Corporate Update

Suite 501-543 Granville Street T: 604.669.8777 www.laraexploration.com Vancouver BC, Canada F: 604.688.1157 [email protected] V6C 1X8 TSX-Venture: LRA

NEWS RELEASE

CORPORATE UPDATE

May 27, 2016 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara” or the “Company”) is pleased to announce that all matters were successfully passed at its Annual General Meeting held on May 25, 2016. The nominated directors that were elected are Miles Thompson, Adrian Calvert, Christopher Jones, and William Steers.

Lara also announces that pursuant to the Company’s stock option plan, 100,000 incentive stock options exercisable at $0.86 per share for a period of five years have been granted to a director of the Company.

About Lara

Lara is an exploration company following the Prospect Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits in Brazil, Peru, Colombia and Chile. Lara’s common shares trade on the TSX Venture Exchange under the symbol "LRA".

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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