Capstone can raise its interest from 51% to 61% by delivering a feasibility study by
February 21, 2023 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), is pleased to report that Capstone
has elected to raise its interest in the Planalto Copper Project from 49% to 51% and become the operator,
by agreeing to fund exploration work and feasibility studies, and by paying US$400,000 in cash to Lara.
Capstone can raise its interest from 51% to 61% by delivering a feasibility study by December 31, 2026.
Lara and Capstone have amended the Planalto Option Agreement, extending the timeframe to start the
feasibility study, given that further exploration drilling is needed to find the limits of the mineralization and
infill drill ing for resource estimates. Under the terms of th is amendment, Capstone will deliver a
Preliminary Economic Assessment and pay US$750,000 cash to Lara on or before March 31, 2024 .
Capstone has agreed to completing a total of 32,000 meters of exploration and infill drilling on the Property
by December 31, 2024, with a minimum of 10,000 metres of exploration drilling to be completed by
December 31, 2023. Capstone will make a final payment of US$1,000,000 in cash to Lara by June 30, 2025,
and deliver a Feasibility Study by December 31, 2026.
About the Planalto Project:
The Planalto Copper Project covers altered volcano-sedimentary sequences and intrusives of early
Proterozoic-age, with IOCG-type mineralization, located near Vale’s Sossego mine and Cristalino deposit
and Oz Minerals’ Pedra Branc a mine, in the Carajás Mineral Province of northern Brazil. The Project
comprises 100% ownership of the mineral rights covering the Homestead discovery (subject to a 2% NSR
royalty payable on any production , with the right to purchase 50% of this royalty for a cash payment of
US$2 million), and options to acquire outright two adjacent licenses, covering northward strike extensions
to the Homestead mineralization, from Mineração Tariana , site of the new Cupuzeiro discovery , and
Mineração Zaspir (see news releases of January 11 and March 15, 2021, for details). Lara has a staged earn-
in agreement with a subsidiary of Capstone Copper Corp., (see Company news release of February 4, 2019,
for details), whereby Capstone can earn up to a 70% in the Project by funding exploration, feasibility studies
and electing to finance, build and manage a commercial mining operation, with Lara repaying its pro -rata
share of the production financing out of cash flow.
About Lara Exploration:
Lara is an exploration company following the Prospect and Royalty Generator business model, which aims
to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint
ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a
diverse portfolio of prospects, deposits and royalties in Brazil, Peru, and Chile. Lara’s common shares trade
on the TSX Venture Exchange under the symbol “LRA”.
Capstone Exercises Option to Become Operator of the Planalto Copper Project
TSX-Venture: LRA
Suite 501-543 Granville Street
Vancouver BC, Canada
V6C 1X8
www.laraexploration.com
T: 604.669.8777
F: 604.688.1157
News Release
Michael Bennell, Lara’s Vice President Exploration and a Fellow of the Australasian Institute of Mining
and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical
information in this news release.
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or
contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
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