Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

June 16, 2008 07:30 ET

Lara Exploration Ltd.: More Nickel Intercepts From the Araguaia Nickel Project in Brazil

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2008) - Lara Exploration ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report that Teck Cominco Brasil S.A. ("Teck Cominco"), a wholly-owned subsidiary of Teck Cominco Limited, has delivered the remaining analytical results from their diamond drilling program on the Vila Oito target on Lara's Araguaia ("Araguaia") nickel project in Para State, northern Brazil. The program comprised 42 vertical holes drilled on a 200 meter spaced grid testing a lateritic nickel target area of approximately 1.4 by 1.0 kilometers.

Vila Oito Drill Program

Analytical results have now been received for all 42 holes drilled at Vila Oito. The Company reported results for 33 of the holes earlier in the year (see Lara press release dated January 28, 2008), the new results from the remaining holes are summarized in Table 1. Nickel intersections are reported with a minimum of 2 meters width and with a lower cut-off grade of 0.9% nickel.



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Table 1 - Vila Oito Infill Diamond Drilling Program (Partial)
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Drill Hole Target From (m) To (m) Interval (m) Nickel %
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PCA-DD-0446 Vila Oito 0 8.80 8.8 1.25
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PCA-DD-0448 Vila Oito No significant results
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PCA-DD-0449 Vila Oito 3.20 6.20 3.0 1.27
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PCA-DD-0451 Vila Oito 14.20 18.40 4.2 0.958
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PCA-DD-0453 Vila Oito 10.0 17.0 7.0 0.944
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PCA-DD-0464 Vila Oito No significant results
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PCA-DD-0465 Vila Oito 1.6 5.2 3.6 1.07
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PCA-DD-0466 Vila Oito 4.1 16.1 12.0 1.25
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PCA-DD-0473 Vila Oito 1.7 5.2 3.5 1.192
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7.7 11.0 3.3 1.01
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The Vila Oito mineralization is adjacent to, and contiguous with, mineralization already being explored by Teck Cominco.

Regional Exploration

Lara's Araguaia project comprises a total of 310,000 hectares of mineral rights, with Vila Oito one of several targets selected from airborne geophysical surveys and regional prospecting. In addition to the drilling at Vila Oito, Teck Cominco has field checked 17 other targets, conducting follow-up soil sampling and mapping on 7 of them. The best of these targets, "Floresta", comprises a 1200 by 500 metre soil anomaly with a maximum value of 3850 parts per million ("ppm") nickel. Auger drilling is being employed to better understand the soil anomalies and has been completed on two targets and is on-going on a third.

Quality Control

Michael Bennell, Lara's Vice President Exploration and a member of the Australasian Institute of Mining and Metallurgy, 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.

Teck Cominco, who holds the project under option from Lara, is the operator of the Project and employs a rigorous QA/QC protocol including the use of standards and blanks and insertion of duplicate samples at regular intervals. Samples are taken at nominal one meter intervals with breaks occurring at geological contacts. Sample preparation is made locally in a dedicated sample preparation facility operated by Teck Cominco near Conceicao de Araguaia and samples are assayed using X-Ray Fluorescence methods at the commercial SGS-Geosol Laboratory in Belo Horizonte, Minas Gerais State.

About Lara

Lara is a well-funded junior exploration company with projects in Brazil and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

The TSX Venture Exchange does not accept 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
    (604) 688-1157 (FAX)
    Website: www.laraexploration.com