Lara Exploration Ltd.: Codelco Expands Mineralized Footprint at Liberdade Cu-Au Discovery

Lara Exploration Ltd. (TSX VENTURE:LRA) is pleased to report additional drilling
results from the Liberdade Copper-Gold Project in northern Brazil, received from
joint venture partner Codelco do Brasil Mineracao Ltda. ("Codelco"). Codelco
completed thirteen new drill holes between April and June this year that have
extended the mineralized footprint of the Fortuna target to approximately 1,200
by 350 metres and intercepted a new zone of mineralization nearby at Fortuna
Sul. 


Miles Thompson, Chairman and CEO of Lara Exploration commented: "While progress
at Liberdade is slower than we'd like due to the current regulatory challenges
in Brazil, these new drill results have significantly extended the known
mineralization at Fortuna and we remain very optimistic about the potential of
this project."


Results from this phase of drilling are summarized in the table below:



----------------------------------------------------------------------------
Drill                        From      To Intercept  Copper   Gold     Cu Eq
hole       Type Target        (m)     (m)       (m)     (%)  (ppb)    (%)(i)
----------------------------------------------------------------------------
LBCD-07    Core Fortuna     60.70   92.55     31.85    0.22    642      0.61
----------------------------------------------------------------------------
                           278.00  298.00     20.00    0.78     81      0.83
----------------------------------------------------------------------------
                           328.00  350.00     22.00    0.73     51      0.76
----------------------------------------------------------------------------
Including                  336.00  346.00     10.00    1.30     98      1.36
----------------------------------------------------------------------------
LBCD-08    Core Fortuna      0.00   18.60     18.60    0.93     27      0.95
----------------------------------------------------------------------------
LBCD-09    Core Pista       64.00   76.00     12.00    0.22     96      0.28
----------------------------------------------------------------------------
LBCD-10    Core Fortuna S       No significant mineralized intercepts       
----------------------------------------------------------------------------
LBCD-11    Core Fortuna     92.00  112.15     20.15    0.39     62      0.43
----------------------------------------------------------------------------
LBCD-12    Core Fortuna S   38.00   50.00     12.00    0.28     54      0.31
----------------------------------------------------------------------------
                            56.00   58.00      2.00   14.66     45     14.69
----------------------------------------------------------------------------
LBCR-01    RC   Fortuna      7.00   21.00     14.00    0.33     11      0.34
----------------------------------------------------------------------------
                            78.00   89.00     11.00    0.78    198      0.90
----------------------------------------------------------------------------
                           174.00  187.70     13.70    0.46     84      0.51
----------------------------------------------------------------------------
LBCR-02    RC   Fortuna    106.00  107.00      1.00    0.82    494      1.12
----------------------------------------------------------------------------
                           121.00  122.00      1.00    1.15   1497      2.05
----------------------------------------------------------------------------
LBCR-03    RC   Fortuna      0.00   38.00     38.00    0.37     18      0.38
----------------------------------------------------------------------------
Including                   13.00   36.00     23.00    0.47     22      0.48
----------------------------------------------------------------------------
LBCR-04    RC   Fortuna      0.00    6.00      6.00    0.26      9      0.27
----------------------------------------------------------------------------
LBCR-05    RC   Fortuna      4.00   56.00     52.00    0.29     18      0.30
----------------------------------------------------------------------------
Including                   41.00   53.00     12.00    0.60      8      0.60
----------------------------------------------------------------------------
                           135.00  150.00     15.00    0.21     12      0.22
----------------------------------------------------------------------------
LBCR-06    RC   Fortuna     52.00   84.00     32.00    0.42    101      0.48
----------------------------------------------------------------------------
                            91.00   99.00      8.00    0.29     42      0.32
----------------------------------------------------------------------------
                           181.00  187.00      6.00    0.52    117      0.59
----------------------------------------------------------------------------
LBCR-07    RC   Fortuna S    0.00   25.00     25.00    0.71     31      0.73
----------------------------------------------------------------------------
(i) Copper Equivalent calculated as ((Copper%) + (0.6 x g/t Gold))          



Codelco has now completed soil geochemistry and geophysical surveys over most of
the property, thirteen core and seven reverse circulation drill holes, for a
total of 4,901 metres (see Company news release of March 1, 2013 for the earlier
drill results). A major NW-oriented Carajas lineament cuts through the northern
part of the Liberdade license, with the Fortuna target related to a northeast
oriented faulting that are secondary structures to this major lineament. Copper
mineralization, mainly in the form of chalcopyrite, is hosted by hydrothermal
alteration and brecciation. The drill hole collar locations are shown on a map
available on the Company website (www.laraexploration.com). 


The host rocks are Archean-aged volcano-sedimentary sequences with mafic
intrusives. Calc-alkaline alteration is pervasive throughout the area,
generating broad second order geochemical anomalies (greater than 200 parts per
million copper "ppm Cu"), with first order geochemical anomalies (greater than
500 ppm Cu) associated with biotite-amphibolite alteration and the higher values
(greater than 1,000ppm Cu) associated with gossans and siliceous breccias. The
target areas also generate magnetic anomalies, but the first order anomalies
tend to be associated with banded iron formations and the mafic intrusives,
while mineralization (with associated chlorite, actinolite, magnetite and
hematite alteration) generates more subdued second order anomalies. Drilling to
date has largely been focused on the Fortuna target, but surface work by Codelco
has identified a number of other anomalies that will be tested in due course.


The 8,491 hectare Liberdade property is located in the Municipality of Sao Felix
do Xingu, Para State, at the western end of the prolific Carajas District.
Codelco is close to earning an initial 51% interest in the property by investing
US$3.3 million in exploration over a four-year period and may then elect to earn
a further 24% interest by sole-funding such additional exploration works as are
necessary to define a minimum resource of at least 500,000 tonnes of copper
equivalent, independently reported under National Instrument 43-101 guidelines.
Exploration licenses in Brazil are valid for three years and may be renewed for
a further three years. The first three-year period on the Liberdade license is
expiring and Codelco has filed a Partial Exploration Report with the Brazilian
Department of Mines, along with a request to renew the license. Codelco has
advised the Company that it expects to complete its initial earn-in and provide
confirmation of election to continue into stage two of the earn-in agreement
only once the license has been renewed.


Quality Control

Codelco follows industry standard quality assurance and quality control
procedures for all its samples, including the insertion of blanks, duplicates
and certified standards into the sample analysis stream. 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 primarily
in Brazil and Peru, where it has signed agreements for ten Joint Ventures and
three Strategic Alliances. 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
Lara Exploration (TSXV:LRA)
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