LRA Lara Exploration Ltd

Lara Exploration Ltd. ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to
announce that it has signed a Letter of Intent with Apumayo S.A.C., a subsidiary
of Peruvian gold miner Aruntani S.A.C., to acquire 100% of the Company's Grace
Gold Project in southern Peru for US$2 million payable as follows:




----------------------------------------------------------------------------
Amount US$   Timing                                                         
----------------------------------------------------------------------------
75,000       On signing of the Definitive Agreement                         
----------------------------------------------------------------------------
125,000      12 months from approval by Direccion General de Mineria for the
             start of activities                                            
----------------------------------------------------------------------------
300,000      24 months from approval by Direccion General de Mineria for the
             start of activities                                            
----------------------------------------------------------------------------
1,500,000    36 months from approval by Direccion General de Mineria for the
             start of activities                                            
----------------------------------------------------------------------------



Lara will also be entitled to Net Smelter Return ("NSR") royalty payments on
gold and gold equivalent production from all metals as follows:




----------------------------------------------------------------------------
                                                                 Applicable 
                                                                NSR Royalty 
Gold (or Equivalent) Production (Troy Ounces)                           (%) 
----------------------------------------------------------------------------
0 to 199,999                                                           None 
----------------------------------------------------------------------------
200,000 to 499,999                                                     0.75%
----------------------------------------------------------------------------
500,000 or more                                                        1.00%
----------------------------------------------------------------------------



Aruntani and its subsidiary, Apumayo, are further committed to minimum
exploration expenditures on the property of US$500,000 and the execution of a
minimum of 3,000 metres of drilling within a year from granting of drilling
permits. Aruntani and Apumayo are currently developing open pit mining
operations for gold on epithermal deposits immediately to the south of Lara's
Grace Gold Project and which are derived from mineralized alteration zones
similar to those outlined at Grace.


The Company's 6,600 hectare Grace Project covers Tertiary-age volcaniclastics,
cut by brecciated silica bodies and veins with wide quartz-alunite and granular
silica halos, indicative of a well-preserved high-sulphidation epithermal
system. An area of hydrothermal alteration extending approximately 6 kilometres
in length by 1 to 1.5 kilometres in width, has been outlined to date, where rock
chip samples have returned anomalous gold, silver, arsenic, mercury and antimony
values. 


Quality Control

Andre Gauthier, Lara's President and a member of the Quebec Order of Engineers,
is a Qualified Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects of the Canadian Securities Administrators, has
verified the technical information and approved the form of its disclosure 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, where it has fifteen Option and Joint Venture
Agreements and three Strategic Alliances, including one to explore for copper
with Antofagasta in Brazil. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lara Exploration Ltd.
Chris MacIntyre
VP Corporate Development
+1 416 703 0010
info@laraexploration.com
www.laraexploration.com

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