Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

June 01, 2015 16:05 ET

Lara Exploration Ltd.: Drilling Intersects 56 Metres at 16.51% Copper at Curionopolis in Brazil

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 1, 2015) - Lara Exploration Ltd. ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report results from fourteen diamond drill holes (total 2,156.9 metres) completed by partner Tessarema Resources Inc. ("Tessarema"), at the Osmar target within the Curionópolis Copper Project, in Pará State, Brazil. The best intercepts from this program and summarized in the following table:

Hole # Section From
(m)
To
(m)
Interval
(m)
Copper
(%)
Gold
(ppm)
CuEq*
(%)
MO-FD3 9327500 N 102 158 56 16.51 0.34 16.71
MO-FD6 9327450 N 56 66 10 2.48 2.13 3.76
MO-FD9 9327550 N 7 49 42 4.48 0.27 4.64
MO-FD10 9327550 N 89 101 12 8.94 0.47 9.22
MO-FD11 9327500 N 178 196 18 5.51 0.68 5.92
MO-FD14 9327600 N 129 137 8 6.83 0.25 6.98
MO-FD15 9327500 N 191 198 7 4.40 0.77 4.86
MO-FD16 9327450 N 9 43 34 3.04 0.87 3.56
MO-FD18 9327475 N 121 162 41 6.17 0.96 6.74
MO-FD19 9327525 N 52 103 51 5.38 0.79 5.85

Copper Equivalent calculated as ((Copper %) + (0.6 x g/t Gold))

Lara previously reported results for a significant drill hole CRCD-06 with strong supergene copper and gold mineralization from this target, with a mineralized interval of 53.8 metres at 9.59 % Cu and 3.3 g/t Au from 90 metres down hole (see Company News Release of December 1, 2011 for details). The results reported here are for drill holes on the same section as CRCD-06 and on cross-sections at a 25 metre and 50 metre spacing both to the north and to the south of the section, in order to define the extensions along the strike trend and down-dip of the supergene mineralization identified previously. The following table summarizes all the results and intercepts from this program:

Hole # Section From
(m)
To
(m)
Interval
(m)
Copper
(%)
Gold
(ppm)
CuEq*
(%)
MO-FD3 9327500 N 0 34 34 1.79 0.37 2.01
41 58 17 0.69 0.08 0.74
68 71 3 0.47 0.09 0.52
90 93 3 2.94 0.85 3.45
102 158 56 16.51 0.34 16.71
including 111 130 19 43.31 0.63 43.69
163 174 11 6.46 0.26 6.62
MO-FD5 9327450 N No significant intersections
MO-FD6 9327450 N 11 52 41 2.28 0.3 2.46
56 66 10 2.48 2.13 3.76
71 73 2 1.52 0.36 1.74
MO-FD9 9327550 N 7 49 42 4.48 0.27 4.64
79 84 5 0.31 0.01 0.32
MO-FD10 9327550 N 6 17 11 2.73 0.02 2.74
29 36 7 0.88 0.01 0.89
44 53 9 0.73 0.10 0.79
68 70 2 0.93 0.03 0.95
89 101 12 8.94 0.47 9.22
130 135 5 0.52 0.02 0.53
MO-FD11 9327500 N 0 23 23 1.14 0.44 1.41
129 151 22 0.89 0.16 0.99
166 169 3 1.94 0.37 2.16
178 196 18 5.51 0.68 5.92
MO-FD13 9327600 N 4 50 46 2.11 0.25 2.26
60 68 8 0.41 0.00 0.41
107 109 2 0.76 0.02 0.77
MO-FD14 9327600 N 7 11 4 0.67 0.00 0.67
129 137 8 6.83 0.25 6.98
MO-FD15 9327500 N 3 10 7 0.72 0.04 0.74
185 187 2 0.53 0.07 0.57
191 198 7 4.40 0.77 4.86
214 217 3 1.04 0.13 1.12
MO-FD16 9327450 N 9 43 34 3.04 0.87 3.56
78 80 2 5.2 0.42 5.45
MO-FD17 9327425 N 11 33 22 1.35 0.02 1.36
MO-FD18 9327475 N 4 41 37 1.27 0.52 1.58
61 72 11 0.84 0.16 0.93
76 80 4 1.27 1.03 1.89
92 108 16 1.15 0.16 1.24
121 162 41 6.17 0.96 6.74
MO-FD19 9327525 N 0 38 38 2.36 0.11 3.02
52 103 51 5.38 0.79 5.85
MO-FD20 9327525 N 0 22 22 1.31 0.97 1.89
62 64 2 4.07 0.37 4.29
95 103 8 1.63 0.14 1.71
109 116 7 1.76 0.11 1.82
125 148 23 2.29 0.18 2.40

Copper Equivalent calculated as ((Copper %) + (0.6 x g/t Gold))

The mineralized intervals have been calculated using a cut-off of 0.3% copper and reporting weighted average gold values within the copper intervals. A maximum of 3 metres of internal waste was incorporated into the mineralized intervals. No top cut was applied to the gold values. All the holes reported here are vertical holes and as such cut the steep east-dipping mineralized structure at an oblique angle, so the intervals reported do not necessarily represent true mineralized thicknesses.

Quality Control

Intertek Brasil (part of Intertek Group plc.) carried out the sample preparation and copper and gold analyses at its laboratory Parauapebas close to the project, and multi-element analyses were made in their laboratory in São Paulo. Intertek follows industry standard quality assurance and quality control procedures with duplicates, multiple standards and blank samples run with each sample batch. 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 is responsible for the preparation and verification of the technical information in this release.

About Lara

Lara is an exploration company following 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. The Company 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".

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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