Minera Apumayo S.A.C. (“Apumayo”) has completed 88 shallow drill holes on Lara’s Grace Gold Project in Southern Peru , 34 of which intercepted anomalous gold mineralization (tabled below) , associated with high sulphidation epithermal alteration and brecciation of andesitic volcanics.
April 10, 2018 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to report that
Minera Apumayo S.A.C. (“Apumayo”) has completed 88 shallow drill holes on Lara’s Grace Gold Project in
Southern Peru , 34 of which intercepted anomalous gold mineralization (tabled below) , associated with high
sulphidation epithermal alteration and brecciation of andesitic volcanics.
Miles Thompson, President of Lara, commented th at “While we would have focused exploration more on the areas
of silica flooding and drilled deeper holes, results of the work by Apumayo are highly encouraging, outlining several
areas of epithermal gold mineralization that warrant further drilling.”
Drillhole Target From (m) To (m) Length (m) Gold g/t
GRA-01 Zone 4 0 8 8 0.22
GRA-02 Zone 4 0 14 14 0.21
GRA-03 Zone 4 0 10 10 0.22
GRA-04 Zone 4 0 10 10 0.19
GRA-05 Zone 4 0 8 8 0.31
GRA-06 Zone 4 0 22 22 0.37
GRA-07 Zone 4 0 10 10 0.20
GRA-08 Zone 4 0 52 52 0.47
GRA-08A Zone 4 0 76 76 0.42
GRA-09 Zone 4 0 30 30 0.52
GRA-10 Zone 4 2 34 32 0.29
GRA-11 Zone 4 18 26 8 0.15
GRA-16 Zone 4 10 26 16 0.21
GRA-17A Zone 4 0 10 10 0.51
GRA-18 Zone 4 0 38 38 0.27
GRA-19 Zone 4 0 34 34 0.41
GRA-20 Zone 4 0 6 6 0.26
GRA-22 Zone 4 0 34 34 0.22
GRA-23 Zone 4 0 28 28 0.30
GRA-24 Zone 4 14 26 12 0.18
GRA-25 Zone 4 0 14 14 0.27
GRA-42 Zone 4 0 28 28 0.32
GRA-45 Zone 4 0 8 8 0.31
Zone 4 26 54 28 0.29
GRA-46 Zone 4 18 40 22 0.67
Zone 4 40 50 10 0.69
GRA-47 Zone 4 0 26 26 0.21
GRA-49 Zone 4 4 14 10 0.19
Zone 4 20 28 8 0.11
Zone 4 32 46 14 0.21
GRA-50 Teton 50 72 22 0.44
Teton 82 98 16 0.22
Minera Apumayo Drill Results and Lapse of the Grace Option
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
Drillhole Target From (m) To (m) Length (m) Gold g/t
GRA-58 Teton 60 112 52 0.53
GRA-59 Teton 8 26 18 0.28
GRA-62 Teton 36 46 10 0.11
GRA-65 Teton 6 34 28 0.24
GRA-68 Teton 8 16 8 0.15
GRA-69 Ana Paula 10 32 22 0.17
GRA-72 Ana Paula 32 40 8 0.19
Apumayo’s option to acquire the Grace property from Lara expired in December 2017 and despite a stated wish to
extend, Apumayo has been unwilling to make financia l commitments, still owes the property fees for 2017 and has
not provided details of the work completed . Lara formally notified Apumayo of its default in March, requesting
immediate payment of the 2017 property fees and copies of all the data related to th e 2017 work program. While
Lara is still open to further negotiations with Apumayo, it also intends to begin the search for a new partner for the
project.
The Grace Project lies immediately to the north of Apumayo’s open pit mines and mill (currently on ca re and
maintenance), which have reportedly produced more than 150,000 troy ounces of gold from oxide material . The
Grace project area covers Tertiary-age andesitic volcanics, cut by brecciated silica bodies and veins with wide
quartz-alunite and granular s ilica halos, indicative of a well -preserved high-sulphidation epithermal system. Surface
work by Lara and subsequently by Apumayo outlined various hydrothermal alteration zones, where rock chip
samples have returned anomalous gold values.
Qualified Person
Apumayo has not provided Lara with the detailed data to back up its report of the work completed at the Grace Gold
Project during the 2017 program and this news release is drawn from Apumayo’s summary report, a copy of which
was provided to Lara. While Lara has no reason to doubt the quality of the work by Apumayo, it has not been able to
verify the results in the report which is disclosed in this 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 in this news release.
About Lara
Lara is an exploration company followi ng 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. It 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.
-30-