Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

June 30, 2009 07:30 ET

Lara Acquires the Tingo Este Copper Target in Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2009) - Lara Exploration Ltd. ("Lara" or "the Company") (TSX VENTURE:LRA) is pleased to report that it has signed a Letter of Intent to acquire the Tingo Este porphyry copper target from Tinka Resources Ltd. ("Tinka"). The 3,700-hectare Tingo Este property lies approximately 50 kilometers northwest of the Company's Lara Deposit in a similar geological setting in southwest Peru. Mapping and prospecting by Tinka has defined copper mineralization within a 1,000 meter by 800-meter area with values up to 0.9% copper.

Mineralization at Tingo Este is hosted by granodiorite and quartz monzonite intrusives of the Coastal Batholith. Tinka collected eighty-two channel samples from predominantly fracture-controlled mineralization over 2-meter widths at nominal 50-meter intervals along the major drainages within the target area. Results ranged from 0.012% to 0.9% copper, with 20 samples returning values greater than 0.1% copper. Lara plans to verify these results and conduct its own evaluation work in the coming months.

Under the terms of the letter of intent, Lara will pay the holding taxes of approximately US$10,000 due at the end of June 2009 and undertake to pay Tinka a 1% net smelter return royalty on any production from the property.

Quality Control

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 this release.

About Lara

Lara is a well-funded prospect generator with a multi-commodity exploration portfolio focused on Brazil but with significant holdings in Colombia and Peru. 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
    President
    (604) 669-8777
    or
    Lara Exploration Ltd.
    Kim Casswell
    Corporate Secretary
    (604) 669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    (604) 669-8777
    (604) 688-1157 (FAX)
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    (416) 640-1932
    info@laraexploration.com
    www.laraexploration.com