Dia Met Minerals -- Exploration update.

KELOWNA, British Columbia--(BUSINESS WIRE)--June 28, 1996--Dia Met Minerals Ltd. wishes to take the opportunity to acknowledge the contribution of the employees and directors of BHP Diamonds Inc. and Dia Met, C.F.Mineral laboratory and field technicians, contractors, investors, brokers, bankers, journalists, First Nations' people, environmentalists, companies and individuals for positive efforts towards the N.W.T. Diamond Project.

Their efforts have contributed to an encouraging decision by the Federal Environmental Assessment Panel recommending mine approval as discussed in the News Release of June 25, 1996.

The following is an update of some of the results of other exploration projects which Dia Met Minerals Ltd. is currently operating:

1. Diamond Exploration Projects (100 percent Dia Met)

More than 80 geophysical targets have been discovered and land positions have been obtained in more than one area of anomalous diamond indicators with chemistry favourable for diamonds. The Board of Directors has approved a budget of approximately four million dollars for an extensive program of heavy mineral sampling and ground geophysics so that core drilling may commence by the spring of 1997. 2. Albert River (Tungsten-Copper-Gold) near Radium, B.C. (51 percent Dia Met/49 percent Goldtex Resources Ltd.)

Seismic and gravity geophysical surveys designed to produce drill targets in areas of strong Au-W-Cu were not as definitive as hoped at producing high confidence drill targets. However, a plus or minus 6000 ft core drilling project designed to confirm the existence of an unexposed granite intrusion is needed. If this indicated, but unexposed intrusion can be located and defined, geologic mapping results can be used to produce the high confidence drill targets for buried W-Cu-Au skarn deposits.

3. Paul-Mike Claims (Sullivan Pb-Zn-Cu-Ag target near Kimberly, B.C. - 100 percent Dia Met Minerals Ltd.)

Proprietary geochemical methods have defined an area between the Sullivan, Kootenay King and Estella Pb-Zn-Cu producing and non- producing mines where deep drilling has been recommended. Subject to confirmation by an independent engineering firm, Dia Met is planning an exploration drilling project, hopefully by the fall of 1996 or winter of 1997. Discussions are being held with potential joint venture partners.

4. Nevada Heap Leach Gold Exploration Project (Dia Met/Goldtex Resources Joint Venture)

Of the 285 regional targets identified to date by Discovery Consultants, 186 have been evaluated, resulting in the following: no further work recommended on 62 targets, 54 are deferred as low priority, and 70 priority targets that warrant continued exploration.

Extensive heavy mineral, soil, and bulk leach sampling has been completed on many of the priority targets, resulting in the staking and acquisition of 224 claims (about 4630 acres) on seven targets with geochemistry favourable for Carlin or heap leach gold deposits.

Although one target has advanced to the stage where drilling is recommended, Discovery and Dia Met wish to advance several to this stage so that drill and exploration efforts can be directed to the highest priority targets.

ON BEHALF OF THE BOARD OF DIRECTORS

CHARLES E. FIPKE, GEOLOGIST & DIRECTOR

CONTACT: Dia Met Minerals Ltd., Kelowna

James E. Eccott, 604/861-8660

604/861-3649 (Fax)

Grant Miller, 604/861-8660

604/861-3649 (Fax)

The American Stock Exchange, Toronto Stock Exchange and the Vancouver Stock Exchange have neither approved nor disapproved the information contained in this release.