Lara Exploration Ltd


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Latest Developments

Lara updates northern Brazil copper mine

Lara Exploration Ltd <LRA.V> : Lara updates progress of permitting and development work at the maravaia copper deposit in Northern Brazil . Lara Exploration -tessarema has been issued with installation license for tailings facility and filed its feasibility study with department of mines .Lara Exploration Ltd says tessarema's consultants are currently working to secure operating licenses that will allow start of commercial production.

Lara Exploration Ltd signs option to acquire Serrita Gold Project in Brazil

Lara Exploration Ltd:Says has signed an Option Agreement to acquire the Serrita Gold Project in Pernambuco State, northeast Brazil.Says under terms of agreement, Lara has agreed to make staged and bonus cash payments totalling up to US$1,650,000.Also agreed to pay finders fee of staged (mostly success-based) payments totalling US$100,000.

Lara Exploration Ltd signs option to acquire damolandia nickel sulphide project in Brazil

Lara Exploration Ltd:Signed an option agreement with BCV Consultoria e Projetos Ltd to acquire damolandia nickel project in central Brazil.

Lara Exploration Ltd to acquire the tocantins gold project in Brazil

Lara Exploration Ltd:To acquire the tocantins gold project in Brazil.Signed deal with Brazil americas investments & participation mineracao ltda to acquire tocantins gold project.Will assume project costs,will pay Brazil americas 50% of proceeds from eventual sale of the project to a third-party.

Lara Exploration Ltd says sergipe potash and canindã graphite option agreements terminated

Lara Exploration Ltd:Lara Exploration Ltd : sergipe potash and canindã© graphite option agreements terminated.Option agreement signed with aguia resources to acquire 100% interest in co's sergipe potash project has been terminated.Option agreement with paradigm metals to earn 80% interest in company's caninde graphite project have been terminated.

Lara Exploration Ltd Signs Option to Acquire the Azul Tin Project in Brazil

Lara Exploration Ltd:Signed a purchase option agreement with best Metais E Soldas S.A. to acquire the Azul Tin Project.Co will pay 2% net smelter return royalty to best on any production derived from the property.Says co has right to acquire this royalty at any time for a one-time cash payment of US$3 million.

Lara Exploration signs letter of intent whereby Kiwanda can acquire co's rights to Picha copper project;

Lara Exploration:Signed a letter of intent whereby the kiwanda group, can acquire the company's rights to the picha copper project in southern Peru.Says company has also terminated the loi signed in Dec. 2014 with goldplata mining international corporation.Under the terms of the LOI, Lara has granted Kiwanda a six-month exclusive option to acquire its Picha Project in exchange for assuming mineral rights and community obligations that fall due during 2015.Kiwanda will grant Lara a net smelter returns royalty of 2% on any precious metals and 1% on any base metals or other minerals produced from the Project.Kiwanda will pay or transfer to Lara 30% of the proceeds upon a sale or transfer of the Project to a third-party.Lara and Goldplata entered into a LOI in Dec. 2014 to consolidate their respective mineral property interests in the Condoroma Project in Peru and the Murindo Project in Colombia into a new copper exploration venture.After six months of discussions, the Parties have been unable to consolidate the properties and have thus agreed to terminate the LOI.

Lara Exploration Ltd amends option agreement for caninde graphite project in Brazil

Lara Exploration Ltd:Says that it has amended the Option Agreement on the company's Caninde Graphite Project in northeastern Brazil, changing the buyer to Paradigm Metals Limited, an Australian Stock Exchange listed exploration company.Under the terms of the Agreement Paradigm can earn an initial 51 pct interest in the Project.Paradigm has delivered a Bankable Feasibility Study, Environmental Permitting and applied for a Mining License to earn its additional 19 pct interest, it may earn the final 10 pct interest by paying Lara $100,000 and putting the project into commercial production within 72 months of the Option dat.

Lara Exploration Ltd signs definitive agreement to sell phosphate and coal interests

Lara Exploration Ltd:Says it has signed a definitive agreement with partner Kiwanda Mines LLC to sell the rights and options held under their Phosphate Alliance and Coal Alliance, to Phillips River Mining Ltd.Says the terms of the agreement differ from the heads of agreement, in that Lara has agreed to sell all of its direct project rights under the Alliances to Phillips River in exchange for 50 pct of the vend-in shares to be issued by Phillips River and a 2 pct production royalty.Says it has received $200,000 that was due upon signing of the heads of agreement and is entitled to a further $570,000 upon the earliest of either the completion of the acquisition of the assets by Phillips River or Feb. 15, 2015.Says Phillips River will acquire the assets through the issue new shares at a deemed price of A$0.20 each, based on an independent valuation.Says after payment of the cash amounts due to Lara, the new Phillips River shares will be issued equally to Lara (50 pct) and Kiwanda (50 pct).Says with 50-60 pct of the shares payable upon closing of the transaction and the remainder only payable subject to achieving certain production and resource definition milestones.Says is further entitled to a 2 pct production royalty on the Coal Alliance assets and once an annual production capacity of 50,000 tons has been achieved, a 2 pct production royalty on the Phosphate Alliance Assets.

Lara Exploration Ltd signs option agreement for caninde graphite project in Brazil

Lara Exploration Ltd:Signs an option agreement with a group of private investors to earn up to an 80 pct interest in Caninde Graphite Project in northeastern Brazil by making staged payments of $700,000, funding a minimum $4.5 mln of exploration and development work and putting the project into commercial production.Intent of the Buyer is to seek a stock market listing for Caninde and other graphite projects in Brazil in the coming months.

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