Company Information for Lara Exploration Ltd

TSX.V-LRA

www.laraexploration.com

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TSX.V; LRA

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Company Statement

Lara Exploration (LRA-TSXV) Lara is a Brazil-focused exploration company trading on the TSX Venture Exchange (symbol LRA.V) with a mandate to build a portfolio of exploration, mining and royalty interests in South America. The Company is concentrating its efforts on exploring for gold, copper, nickel, tin and diamonds in Brazil and Peru, but retains an opportunistic approach for projects in neighboring countries and other commodities. Lara follows the Project Generator business model, using joint ventures to fund exploration to reduce technical risk and minimize shareholder dilution.

Lara has ~17.5m shares outstanding and ~23.5m shares on a fully diluted basis. With annual budget of ~$2.0m and ~$4.3m in treasury as of September 2007 the Company is adequately funded to execute its mandate through 2008 and 2009. The Company expects to add a further $2.0m to treasury from the exercise of warrants at $0.75 each before February 2008. Large shareholders include Management (17%), Exploration Capital Partners (15%) and the Lundin Family (9%).

Current Operations

The Lara Copper Oxide Deposit comprises an 1,800 hectare property in the Andean coastal range inland from the town of Nazca in Southern Peru. The property hosts an oxide copper deposit with a 43-101 compliant inferred resource of 18.6Mt at 0.53% that could be developed into a low capital cost solvent extraction electro-winning (SX-EW) leach project. On-going exploration and feasibility studies have been funded by a joint venture with Solid Resources Ltd ("Solid", TSXV: SRW). Solid may earn a 55% interest in the project by making cash payments to Lara totaling $500,000 and undertaking exploration expenditures totaling $2 million (including 8,000m of drilling) over a three year period. Solid also has the option to acquire a further 20% by completing a bankable feasibility study and making a payment of $1.5 million within an additional two years.
The Araguaia Nickel Laterite Project comprises 300,000 hectares of 100%-owned exploration claims and licenses near the town of Conceição de Araguaia in Pará State, Northern Brazil. Lara is the second largest holder of mineral rights in this important emerging nickel district, where Xstrata is conducting feasibility studies on its new discoveries at Serra da Tapa and Vale dos Sonhos. No recent statements have been made, but in a March 2006 release an inferred resource of 73.3 million tonnes grading 1.5% nickel was reported for the combined deposits. In 2006 Lara intercepted significant nickel mineralization at Vila Oito, hosted both by laterite and saprolite material. Follow-up work on airborne geophysical data has since identified a series of other targets on the property and in October 2007, the Company entered into an option and joint venture agreement with Teck Cominco, which holds adjacent properties, to fund up to $8.0m of exploration work and pay Lara $0.6m in cash to earn a 75% interest in the Project.
The Campos Verdes Gold Property comprises 33,000 hectares of exploration claims and licenses surrounding the famous emerald mining town of Campos Verdes in Goiás State, Central Brazil. Significant mining operations in the same district include the Crixás Mine (AngloGold Ashanti and Kinross Gold Corporation) producing at 180,000oz/year of gold and the Chapada Mine (Yamana Gold Inc.) which produces 200,000oz/yr of gold and 135Mlb/yr copper. Lara has been exploring and area of abandoned artisanal gold workings on the Campos Verdes Property and in July 2007 completed an Option and Joint Venture Agreement with TSXV-listed CCT Capital, whereby that company could earn a 70% interest in the Campos Verdes Property by funding $2m of exploration expenditures.
The Colorado Gold Property comprises 20,000 hectares of exploration licenses around the town of Colorado do Oeste in Rondônia State, NW Brazil. Lara has the option to purchase the property outright for $70,000 in cash, $310,000 of work commitments and a royalty capped at $1m. Previous drilling along a trend of abandoned artisanal workings intercepted gold mineralization hosted by veining and breccias in altered mafic rocks. Lara has compiled and checked historical data and completed channel, soil and trench sampling the 1,600m zone of known mineralization and some reconnaissance work on other targets. A partner is now being sought to drill the targets outlined.
The São Lourenço Tin Project comprises an option to acquire 3,549 hectares of mining licenses over the mothballed São Lourenço tin mine in Rondônia State, Northwest Brazil. Reconnaissance work continues to identify and map primary tin mineralization within the area of previously mined alluvials (river gravels). The Company plans to follow up this work with geophysics and systematic sampling.

The Tapajós Gold-Copper Project comprises a joint venture to explore for intrusion-related gold and copper deposits in the Tapajós District of Pará State, northern Brazil. Under terms of a Letter of Intent signed on April 19, 2007 the Company will provide US$ 300,000 of seed funding for 50% of the new joint venture company T’Gold Mineração Ltda (“T’Gold”) that will initially own 44,800 hectares of exploration claims covering old surface gold workings (“garimpos’) at Santa Felicidade, Santa Cecilia, Castelo, Colibri (Beija-Flor), Caic-1 and Caic-2. The Santa Felicidade, Santa Cecilia, Castelo and Colibri claims are subject to a 1.5% NSR royalty, half of which (0.75%) may be purchased by T’Gold for US$750,000.

Geographical Spread

The Company’s main projects are the Lara Oxide Copper Project which is a near-surface leachable copper deposit in Peru and the Araguaia Nickel Project in Brazil which includes the Vila Oito nickel laterite discovery. Brazilian gold projects include the Campos Verdes, Fortuna and Colorado Projects. Tin projects include the São Lourenço Mine, a past producer and the Serra Azul Project, both in Northwest Brazil. Lara currently has three joint ventures which it expects to fund exploration drilling in 2007.

Board of Directors and Key Management

Directors:
Miles Thompson	President and CEO
Michael Winn	Director
Dr. Craig Bow	Director
Alan F. Matthews	Director
Narinder Nagra	Director
Kim Casswell	Corporate Secretary

Management:
Michael Bennell	Vice President Exploration
Michael Sadhra	Chief Financial Officer
Paulo Fragomeni	General Manager, Brazil
Robert Plenge	General Manager, Peru
Helio Ikeda	Project Manager, Brazil
Mauricio Mendes	Administrative Manager, Brazil

Company Address

9th Floor
570 Granville Street
Vancouver, British Columbia, Canada V6C 3P1


Telephone:	604.669.8777
Facsimile:	604.688.1157
Email:	miles[at]laraexploration.com
Website:	http://www.laraexploration.com

Additional Address/Key Contact

Brazil Office
Avenida Nilo Pecanha 50, Grupo 1518
Rio de Janeiro, RJ
CEP: 20020-906
Brazil
Telephone: 55.21.2292.3712
Fax: 55.21.2157.3636

Annual General Meeting

June

Year End

December 31

Major Shareholders

Management ~17%

Exploration Capital Partners Ltd ~16%

Lundin Family ~9%

Most Recent Statement

17/09/07 - Lara To Raise $1,275,000 By Way Of Private Placement
10/08/07 - Joint Venture Agreement Concluded for the Campos Verdes Gold Project
24/07/07 - Lara targets two diamondiferous kimberlites in Northwest Brazil
17/07/07 - Lara completes due diligence and starts exploring in the Tapajos
29/05/07 - Lara delineates new Araguaia nickel targets
15/05/07 - Appointment Of Chief Financial Officer

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