Diaz Completes First Well in Current Macklin, Saskatchewan Development Program

Diaz Resources Ltd. (TSX VENTURE:DZR) today announced that the first well
drilled in the three well horizontal Dina heavy oil well development program at
Macklin, Saskatchewan began production on March 8, 2012. The well is currently
producing at a rate of 110 BOPD.


The success of this key well has significantly expanded the Macklin Dina oil
pool, based on the Company's geological and geophysical interpretation. The well
was drilled immediately to the north of the four currently producing Macklin oil
wells, testing a section of mineral rights acquired by Diaz in late 2011. 


The second well in the program has been drilled and cased and is awaiting the
third well to finish being drilled prior to completion. The third well began
drilling on March 11, 2012. The last two wells in the program are expected to be
on production by March 23, 2012.


Diaz has a 45% working interest in the Macklin project. The remaining 55%
working interest in Macklin is held by Tuscany Energy Ltd.


ADVISORY: Certain information in this news release, including drilling plans and
projected drilling, completion and equipping costs, and production rates from
the Lloydminster and Macklin fields 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. 


Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural
gas volumes have been converted to barrels of oil at six thousand cubic feet
(mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in
isolation. A boe conversion of six thousand cubic feet per barrel is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead. References to oil in
this discussion include crude oil and natural gas liquids (NGLs).


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.