Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

February 11, 2010 07:30 ET

Lara Exploration Ltd.: Updated NI 43-101 Technical Report Completed on the Araguaia Nickel Project, Brazil

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2010) - Lara Exploration Ltd. (TSX VENTURE:LRA) ("Lara" or "the Company") is pleased to report that it has completed an updated NI 43-101 Technical Report on its Araguaia Nickel Project ("Project") in Pará State, northern Brazil. The report compiles, consolidates and interprets data from the Company's own work programs, with exploration and drilling programs executed under separate joint ventures with the Brazilian subsidiaries of Xstrata plc ("Xstrata") and Teck Cominco Ltd. ("Teck"). The report confirms the project merits further exploration to enable an initial mineral resource estimate for the Vila Oito target and to advance the exploration at the Floresta, D-Grid and Conceição nickel targets.

Lara's 100%-owned Araguaia Nickel Project comprises 53,889 hectares of exploration licenses and claims in a district that has seen several significant nickel discoveries in recent years: Araguaia adjacent to Vila Oito (Teck), Serra da Tapa and Vale dos Sonhos (Xstrata) and Lontra (Horizonte Minerals plc).

Exploration programs on the Araguaia Nickel Project conducted since 2006 have identified bodies of nickel laterite mineralization in the southern part of the Vila Oito license block and in the southwest of the Floresta license block. Preliminary exploration in the Conceição License Block has also identified disseminated nickel and copper sulphide mineralization, associated with layered mafic intrusive bodies.

The report is available for download on the Company's website: www.laraexploration.com.

Qualified Person

Michael Bennell, Lara's Vice President Exploration and a member 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 is responsible for the preparation and verification of the technical information in the Technical Report and in this release.

About Lara

Lara is a South America-focused prospect generator with a multi-commodity exploration portfolio in Brazil, Peru, Colombia and China. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Lara Exploration Ltd.
    Miles Thompson
    Chairman & CEO
    604-669-8777
    or
    Lara Exploration Ltd.
    Andre Gauthier
    President
    604-669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    604-669-8777 ext. 106
    604-688-1157 (FAX)
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    416-640-1932
    www.laraexploration.com