Diaz Announces Closing of Previously Announced Share and Debt Reorganization

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Diaz Resources Ltd. ("Diaz") (TSX VENTURE:DZR) announces that it has completed
its previously announced share and debt reorganization pursuant to which: (i)
Diaz's common shares ("Pre-Consolidation Shares") have been consolidated on the
basis of 25 Pre-Consolidation Shares for one new post-consolidation common share
("New Diaz Share") of Diaz; (ii) the outstanding 10.5% convertible unsecured
subordinated debentures ("Unsecured Debentures") of Diaz have been converted
into 14,853,249 New Diaz Shares based on a conversion rate of one New Diaz Share
for every $0.477 principal amount of Unsecured Debentures; (iii) the outstanding
10.5% convertible secured subordinated debentures ("Secured Debentures") of Diaz
have been converted into 76,190,476 New Diaz Shares based on a conversion rate
of one New Diaz Share for every $0.105 principal amount of Secured Debentures;
and (iv) all accrued and unpaid interest on the Unsecured Debentures and Secured
Debentures has been cancelled without any further payment or consideration.


The New Diaz Shares will commence trading on the TSX Venture Exchange at the
open of business on December 18, 2012.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Diaz Resources Ltd.
Robert W. Lamond
Chairman, President and Chief Executive Officer
[phone]


Diaz Resources Ltd.
Brad Perry
Chief Financial Officer
[phone]
[e-mail]
www.diazresources.com