The initial holes will be angled to the southwest on the same sections and as follow-up on the recently reported Cupuzeiro intercepts (see Lara news releases of May 16 and
October 17, 2022 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), is pleased to report that it has
received a new exploration permit from the Para State environmental authority SEMAS, to extend drilling
northwards of the new Cupuzeiro discovery . Two drill rigs h ave been mobilised, with a plan to initially
drill a further 3,000 metres north of Cupuzeiro in the coming months. An additional 1,800 metres of drilling
is planned to test the gap between the Cupuzeiro target and the Homestead deposit, which is still subject to
environmental permitting.
The initial holes will be angled to the southwest on the same sections and as follow-up on the recently
reported Cupuzeiro intercepts (see Lara news releases of May 16 and September 13, 2022 for details) to
extend the footprint and better define the controls of the higher grade mineralization.
About the Planalto Project:
The Planalto Copper Project covers meta -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 Branca mine, in the Carajás Mineral Province of northern Brazil. Lara now owns
100% of the main Planalto Project and the Homestead discovery, subject to a 2% NSR royalty payable on
any production (Lara retains the right to purchase 50% of this royalty for a cash payment of US$2 million).
Lara has further options to acquire outright two adjacent licenses, covering northward strike extensions to
the Homestead mineralization, from Mineração Tariana 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”.
Michael Bennell, Lara’s Vice President Exploration and a Fellow of the Australasian Institute of Mining
and Metallurgy (AusIMM), is a Qualif ied 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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Drilling Resumes at the Planalto Project in Brazil
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