Lara Appoints Anthony Polglase as a Technical Advisor

Vancouver, British Columbia--(Newsfile Corp. - January 30, 2024) - Lara Exploration Ltd. (TSXV: LRA) ("Lara") is pleased to announce the appointment of Mr. Anthony (Tony) Polglase as a Technical Advisor, to provide support to the management team on the development of the Company's Planalto Copper Project in the Carajás Mineral Province of northern Brazil.

Mr. Polglase has a Bachelor of Engineering First Class Honours degree in Metallurgy from the Camborne School of Mines and Higher National Certificates in both Mechanical Engineering and Electrical Engineering. He began his career at the South Crofty Tin Mine in Cornwall and since then, has accumulated over 40 years' international experience working in multiple mining disciplines for companies including AngloGold Ashanti Ltd., Rio Tinto Ltd., TVX Gold Inc., and Ivernia Inc., in Africa, Europe, the Former Soviet Union, Australia, and, for the last decade, in Brazil. Mr. Polglase has significant experience in the development, execution, and operation of new mining projects, having been responsible for, or closely involved with, the commissioning of over seven mines, both open-pit and underground inclusive of plant and maintenance management.

Mr. Polglase was the Founder and Managing Director of ASX listed Avanco Resources Ltd, which he led from pre-IPO into production at the Antas Copper Mine (located approximately 12km from the Planalto Project) in Carajás Mineral Province. Avanco was acquired by OZ Minerals for A$418 million in 2018. He has subsequently become a Founder and Lead Director of TSX listed Bravo Mining, focused on advancing the multi-million ounce Luanga Platinum Group Metals, Gold, and Nickel Project, which is also located nearby in the Carajás Mineral Province of Brazil.

Pursuant to the Company's stock option plan, 100,000 incentive stock options exercisable at $0.64 per share for a period of five years have been granted to Mr. Polglase.

About the Planalto Project:

The Planalto Copper Project covers volcano-sedimentary sequences and intrusives of early Proterozoic-age, located between Vale's Sossego mine and Cristalino deposit, and BHP's Pedra Branca mine and Antas mill, in the Carajás Mineral Province of northern Brazil. Lara owns 100% of 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; and containing the new Cupuzeiro discovery, from Mineração Tariana and Mineração Zaspir (see news releases of January 11 and March 15, 2021, for details). To date 26,016m of diamond drilling has been completed on the Planalto Copper Project, with the latest holes reported Q4-2023 linking Homestead and Cupuzeiro into a single body of mineralization.

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".

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.

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196090