The Curionópolis Iron Project comprises a 1,348-hectare license area, covering iron formations located in the Carajás District of northern Brazil that was optioned to Vertical in 2009 for staged cash payments and production royalties. Vertical completed exploration drilling , resource estimates, eco
April 30, 2024 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”) is pleased to announce that it has
agreed with Vertical Mineração Limitada., to settle the lawsuit and recover the Curionopolis Iron Project,
which has now been transferred back to Lara’s Brazilian subsidiary.
The Curionópolis Iron Project comprises a 1,348-hectare license area, covering iron formations located in
the Carajás District of northern Brazil that was optioned to Vertical in 2009 for staged cash payments and
production royalties. Vertical completed exploration drilling , resource estimates, economic and
environmental studies, but defaulted on its payment obligations to Lara. Lara initially filed for arbitration
in 2016 which was contested, and then embarked upon legal action in 2022.
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.
-30-
Lara Agrees to Settle Lawsuit and Recover the Curionopolis Iron 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