Lara Provides a Project Portfolio Update

Lara Provides a Project Portfolio Update

Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Lara Exploration Ltd. (TSXV: LRA)

("Lara") is pleased to provide an update of work on various of its projects.

Planalto Copper Project (Brazil): The Company made the final purchase option payment to Anglo

American Niquel Ltda., for the Tariana license, completing the consolidation of the now 100% owned

mineral rights over the project and has engaged Belo Horizonte based GE-21 Consultoria Mineral Ltda.,

to prepare a mineral resource estimate and a preliminary economic assessment (PEA) to both Brazilian

and Canadian standards. The Company expects to publish the NI 43-101 standard mineral resource

report in Q2 and complete technical studies for the PEA in Q3.

Celesta Copper Project (Brazil): The Company has signed off on the restructuring of Celesta Mineração

S.A., with Tessarema now having the option to buy-out North's 55% interest in the project. Tessarema

has already leant Celesta an initial US$5m to make a downpayment to North and undertake a minimum

5,000-metre diamond drilling program to define additional reserves and resources. Lara owns 5% net

profits interest via preferred shares of Celesta without the obligation to contribute to the re-start costs

and a 2% Net Smelter Returns Royalty (NSR) on production.

Picha Copper Royalty (Peru): Firetail Resources is undertaking a 5,000m maiden drill program on

various geochemical and geophysical anomalies defined on the Picha property and has already

intercepted anomalous copper values in the first two reported holes (see Firetail news release of March

13, 2024) into the Cumbre Coya Target. Lara holds a 2% NSR on any precious metals and a 1% NSR

on base metals produced on the original core licenses totaling 3,800 hectares in which the Cumbre

Coya and the other targets being tested are located.

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".

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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