Diaz Announces Q3 2011 Results and Updates Drilling Activity

Diaz Resources Ltd. (TSX VENTURE:DZR) announces that it has filed on SEDAR its
Interim Financial Statements and MD&A for the nine months ended September 30,
2011.


The Company made significant progress towards increasing oil production rates
during Q3 2011 as it drilled four new wells in its ongoing development program
with funds sourced from property sales. Diaz sold four non-core properties which
generated approximately $1.6 million. Diaz did not need to draw on its bank line
during the third quarter, which leaves the Company positioned to proceed with
additional planned drilling in the fourth quarter.


Diaz drilled three wells in its ongoing Lloydminster development program - all
of which were successful. 


Of note, and more significant, was the Company's participation in the drilling
of a horizontal well at Macklin, Saskatchewan, which was placed on production
September 18, 2011, and has steadily produced in excess of 100 barrels of oil
per day (45 bopd net), to date. Diaz plans to drill two offset wells to this
well in November and anticipates a continuous development program if results
warrant. 


The Company will continue to focus on its heavy oil development programs in the
Lloydminster and Macklin areas and if successful, Diaz should exit 2011 with a
significant increase in its oil production from current levels. 


Diaz is an oil and gas exploration and production company based in Calgary,
Alberta. Diaz's current focus is on oil development and exploration in Alberta
and Saskatchewan.


ADVISORY: Certain information in this news release, including drilling plans and
projected drilling, completion and equipping costs, may constitute
forward-looking statements under applicable securities laws and necessarily
involve risks including, without limitation, risks associated with oil and gas
exploration, development, exploitation, production, marketing and
transportation, loss of markets, volatility of commodity prices, currency
fluctuations, environmental risks, competition from other producers, inability
to retain drilling rigs and other services, capital expenditure costs, including
drilling, completion and facilities costs, delays resulting from or inability to
obtain required regulatory approvals and ability to access sufficient capital
from internal and external sources. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements. Readers are
cautioned that the foregoing list of factors is not exhaustive. 


The forward looking statements contained in this press release are made as of
the date hereof and Diaz undertakes no obligations to update publicly or revise
any forward looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

Diaz Resources Ltd (TSXV:DZR)
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