TSX-V: DOS MARCH 25, 2010
Diamond drilling program ongoing on the Shipshaw Carbonatite Complex
MONTREAL, QUEBEC, CANADA - DIOS EXPLORATION INC. reports the actual continuation of an ongoing Diamond drillling program on its Shipshaw Carbonatite Complex.
Evaluation of the Shipshaw carbonatite complex requires a lot of drilling, but it is interesting to note that overburden was only seven feet thick in the center of the geophysical anomaly with a further 6-7 meters of limestones and conglomerates only before reaching the complex. A lot of care was taken for mineralogical descriptions as it is very complex before a hundred one-meter long core samples were sent out for every commodity analysis possible two weeks ago. Three holes to date were drilled through the carbonatite complex and some rock type photos are shown on DIOS website at:
http://www.diosexplo.com/shipshaw.php
as well as photos from a short exploratory hole some 2.4 km away that intersected several horizons of ultramafic rocks bearing a lot of similarities with kimberlite looking rocks, for instance. The Diamond drilling campaign is being pursued in the scope of the acquisition of a further 15% in the project for a $300,000 in exploration expenditures. DIOS already owns a 60 % interest in the project. The Shipshaw Carbonatite Complex is related to the Saguenay Rift Zone and a fault zone related to the Shipshaw River, discovered through testing an ancient topographic parallel bedrock low.
BOARD MEETING
DIOS announces that, following its yearly Planning Board meeting, held this week, it has granted an aggregate 980,000 incentive stock options under Stock Option Incentive Plan to directors, officers and employees at an exercise price of $0.34 per share. Of these options, an aggregate 785,000 options have been granted to the Company's directors and officers. The options expire five (5) years from the date of grant, vest quarterly over an 18-month period, and are subject to the required four (4) month hold period and other applicable regulatory approvals.
A major exploration budget has also been approved for 2010 for exploration of Shipshaw, U33, 33 Carats, Hotish and Pontax projects, mainly. DIOS is in a good financial position with its 4.1 M$ non-flow through working capital to pursue its exploration programs. DIOS focuses on its high potential research programs, without incurring any share capital dilution in the short term, to ensure some sort of upside leverage in case of discovery. DIOS has only 34,333,839 shares and no warrants outstanding.
This press release was prepared by Marie-Jose Girard, M.Sc., P.Geo, and a Qualified Person pursuant to National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact :
Marie-Jose Girard, President & CEO
mjgirard@diosexplo.com
Tel. : (514) 510-7962 ou (514) 483-5149
Fax : (514) 510-7964
Website : www.diosexplo.com
