Oh Feeling that's a tough call. Are you this person that wants to tell someone about your illness, or is it the other person who you are talking about the one who has a mental illness?
It was easy for me because I was already married when I got my official diagnosis. So, he was stuck with me, lol.
If you trust this individual and you're the one who wants to disclose this info., then I would say go for it, but don't make it out to be a big deal. Whenever I tell friends, I joke about it while I am telling them to lessen the blow and that usually works.
If it's the other person who has a mental illness, it has to be up to them whether to disclose this info. or not, but if you say that you will be there with them through anything, I think they would be comfortable telling you.
Good Luck!