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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 2, 2016) - Lara Exploration Ltd., ("Lara" or the "Company") (TSX VENTURE:LRA) announced on November 9, 2015 an initial resource estimate for its Maravaia Copper Gold Deposit, located within its Curionopolis exploration license in northern Brazil. Following a review by the British Columbia Securities Commission, Lara was advised that the technical report filed on November 9, 2015 in support of the Maravaia resource estimate did not fully comply with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Lara has worked with the report author to revise the report and believes it now complies with NI 43-101. Despite such revision, there are no material differences in the resource estimate for the Osmar Target, which is the principal component of the Maravaia Deposit. The report no longer estimates a resource for the Galpão Target and Lara's previous disclosure of a resource for the Galpão Target should not be relied upon until the estimate is verified and supported by a NI 43-101 compliant technical report. The revised report has been filed on SEDAR.
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 prospects and deposits in Brazil, Paraguay, Peru, Colombia and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lara Exploration Ltd.
VP Corporate Development
+1 416 703 0010