Lara Exploration Ltd. · TSXV:LRA
Lara Exploration — Investor Presentation (October 2026)
32 slides from Lara Exploration's investor presentation, October 2026
Slide 1: Creating Value Through Discovery in South America
CREATING VALUE THROUGH DISCOVERY IN SOUTH AMERICA CORPORATE PRESENTATION OCTOBER 2026 TSXV: LRA
Slide 2: Forward-Looking Statement-1
Forward-Looking Statement-1 Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “antic
Slide 3: Forward-Looking Statement-2
Forward-Looking Statement-2 Note 3- The 43.101 Planalto PEA report, Effective Date: October 15th, 2025 contains certain non IFRS financial performance measures (including “All-in Sustaining Costs”, “Total Site Costs”, “Total Adjusted Operating Costs”, “Average Annual Net Revenue”, “Average Annual Fr
Slide 4: Copper-Gold Mine Development in Brazil
Copper-Gold Mine Development in Brazil Liberdade Mining-Friendly Jurisdiction Flagship Project - Planalto Itaituba Well-established mining district with supportive Celesta 100%-owned open pit copper-gold project Fofoca South local authorities. Fertec PEA Nov. 2025*2,*3 8Mtpa, 36ktpa copper productio
Slide 5: 2026 Highlights & Catalysts
2026 Highlights & Catalysts JAN 2026 Atlantica confirms strike potential Results from the Atlantica licence confirm a potential 3 km strike extension to the Upcoming Catalysts Planalto mineralization. • Assay results from ongoing drilling • Updated Mineral Resource Estimate (Q1 2027) APR 2026 C$33.7
Slide 6: Why Pará, Brazil?
Why Pará, Brazil? Planalto ❖ Agriculture and mining dominate the local economy. ❖ Politically supportive of mining, with the revenues shared locally (State, Municipality and Landowners). STATE OF PARÁ ❖ Clear and proven permitting process with state level project approvals. ❖ Secretariat of Environm
Slide 7: Carajás Infrastructure
Carajás Infrastructure N B R A Z I L ❖ World class mining district, home to Vale’s main iron ore operations, in addition to copper, gold, nickel and manganese production. Belém Port ❖ Vale, BHP and Ero Copper operate the four existing Baracarena Port significant copper mines, but there are several o
Slide 8: Project Location
Project Location Parauapebas, Rail Station DISTANCE TO MINES Antas North Serra Norte (Fe) 2.6Mt @ 1.2% Cu (Mined) 15 km 1.7 Bt @66% Fe (Resources) Celesta Corex BRA I L (Cu,Au) Pedra Branca 5Mt @ 2.1% Cu 38 km Carajás Parauapebas Curionópolis Substation 275 Curionópolis Sossego 32 km ~70 ktpa Cu in
Slide 9: Planalto Deposits and Targets Map
Planalto Deposits and Targets Map Drillholes 28,273m in 92 DH Cu in soil (>284ppm) DIVISA Licenses total 4,211.87 Ha PLANALTO TARGET Targets/Deposits DEPOSIT Power line Highway Gravel road MAIN PIT SODRE HIGHWAY W TARGET TARGET HIGHWAY E SILCA CAP PIT TARGET JB TARGET SILCA CAP DEPOSIT VILA PLANALTO
Slide 10: Planalto PEA Pit
Planalto PEA Pit 1,500m 500m MAIN PIT SILICA CAP N W E (STABLE DESIGN) SECTION 636986 E 10 LARA EXPLORATION | TSXV: LRA | CREATING VALUE THROUGH DISCOVERY IN SOUTH AMERICA
Slide 11: Planalto Long Section
Planalto Long Section S N 100m SECTION 636986 E Long section S-N looking W, showing Block Model cells >0.16% CuEq 11 LARA EXPLORATION | TSXV: LRA | CREATING VALUE THROUGH DISCOVERY IN SOUTH AMERICA
Slide 12: Planalto Mining
Planalto Mining SIMPLE MINING *2 Mining Units Value ❖ Pre-strip - 16.2 Mt. Mining Yr.1-8 (ore + waste) Mt/yr 20 Peak mining rate (ore + waste) Mt/yr 35 ❖ RoM + Silica Cap - 5m benches, 40t trucks, 3.7 m3 excavators. Peak processing Mt/yr 8 ❖ Waste - 10m bench, 100t trucks, 15 m3 excavators. LoM ❖ Di
Slide 13: Planalto Metallurgy
Planalto Metallurgy SIMPLE PROCESSING *2 ❖ Crush - 8 Mtpa, Hard Ore 18.5-20.0 kWh/t. ❖ Grind – SAG Mill + 2x Ball Mill (P80 of 75 µm). ❖ Float. - Chalcopyrite + Gold. Regrind section. ❖ Pyrite - Option to recover pyrite to separate stream. ❖ Recovery - Cu- 90.9% Au 51.1%. QUALITY CHALCOPYRITE CONCEN
Slide 14: Planalto Process Flowsheet
Planalto Process Flowsheet SIMPLE FLOWSHEET • Industry Standard - Recovering only chalcopyrite, diverting pyrite to tails. • OEM Equipment - Major equipment specification and design. Metso - Milling and crushing, FLS - Flotation and thickening, Andritz - Concentrate Filter Presses, Weir – Slurry Pum
Slide 15: Planalto PEA: General Layout
Planalto PEA: General Layout PROPOSED 138kV POWER LINE EXISTING POWER LINES (PEA OPTION 2) 230Kv FRESHWATER POND INFRASTRUCTURE BENEFITS 500Kv MINING ADMINISTRATION CONTRACTOR INFRASTRUCTURE ❖ 4km from highway and power lines PA-160 PYRITE DAM PROCESSING ❖ Flat-lying, with year-round access PLANT LO
Slide 16: Planalto Tailings
Planalto Tailings TAILINGS STORAGE FACILITY OPTIONS *2 ❖ Studies - 2x studies, various options. ❖ Conventional design - Slurry tailings, flat area more challenging. ❖ High Rainfall - Dry stack not so suitable. ❖ Thickened paste - Good option used at Vale's nearby Sossego copper mine, viewed favourab
Slide 17: Planalto Production
Planalto Production 40 45 LoM: Cu- 560 kt (1.2B lb) 0.46% 40 35 0.45% 0.47% Au- 111 koz 30 0.47% 35 120kt pa concentrate 28% 0.42% Process LG 30 stockpile Yr.1-6: Cu 36 ktpa (79M lb) Cu in concentrate (kt) 25 Au- 7.2 koz pa Mined (Mt) 0.52% 0.52% 25 0.56% 0.51% 0.46% 0.45% 0.47% 20 0.42% 0.40% 20 Co
Slide 18: Planalto CAPEX & OPEX
Planalto CAPEX & OPEX Initial Sustaining Total OPEX *2 CAPEX *2 (US$ M) (US$ M) (US$ M) Description Unit Cost Mining Pre-Strip 28.5 -- 28.5 Mining US$/t ex-pit 3.04 Mining US$/t processed 8.34 Processing Plant 238.5 85.9 324.4 Processing US$/t processed 7.66 Tailing Management Facility 13.1 62.1 75.
Slide 19: Initial CAPEX & OPEX
Initial CAPEX & OPEX CAPEX OPEX CAPEX US$ M % ■ Pre-Strip 28.5 5% ■ Plant 238.5 44% ■ Tailings 13.1 2% $17.75 ■ Water 15.0 3% per tonne $546 ■ Infrastructure ■ Power 28.3 20.6 5% 4% produced million ■ Construction 29.5 5% ■ EPCM 47.3 9% ■ Owners Costs 33.7 6% ■ Contingency 90.9 17% Mining $8.34 (47%
Slide 20: Planalto Financial Metrics
Planalto Financial Metrics Key Unit Costs *2 US$/lb Cu payable Post tax NPV Sensitivity to Discount Rate Total site costs*3 2.14 Discount Rate NPV (US$ million) Government royalties 0.08 6% 495 Total adjusted operating costs*3 2.54 8% 378 All in sustaining costs*3 2.70 10% 284 Capital Costs US$ mill
Slide 21: Recent Milestones & Path to Production
Recent Milestones & Path to Production MRE PEA PFS Study FS Study Construction Production Acquire Atlantica Updated MRE PAE Mining Licence (Q1 2027) (Brazil) concession H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 2024 2025 2026 2027 2028 2029 2030 2031 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 360 Days 180 Days 180 Day
Slide 22: Exploration Opportunities
Exploration Opportunities In and Near Pit Exploration • Measured and Indicated DIVISA Resources – Infill drilling to PLANALTO TARGET increase resource confidence. DEPOSIT • Identify new mineralisation in pit – Increase RoM feed MAIN PIT tonnage, reduce strip ratio. SODRE HIGHWAY W TARGET TARGET Pit
Slide 23: Outstanding Development Attributes
Outstanding Development Attributes This project has all the characteristics necessary for successful development Located in the Carajás, a well-established Municipalities with experienced mining district, building new mines. & available labour force. Supportive government that is pro foreign Discove
Slide 24: Shareholder Capital
Shareholder Capital Management and Directors own 16.5% 16.5% 22.1% Management & Float Directors Capital Structure & Valuation Share Price (TSXV close Oct 16, 2026) C$ 3.81 Shares O/S (Oct 2026) M 62.0 16.4% Adrian Day Options (C$0.54–1.20) M 2.7 Asset Management Market Cap C$M 236.2 15.5% Family Off
Slide 25: Management Team
Management Team MILES THOMPSON SIMON INGRAM MICHAEL BENNELL CHRISTOPHER CHAIRMAN PRESIDENT, CEO, AND VP, EXPLORATION MACINTYRE DIRECTOR VP, CORPORATE DEVELOPMENT ❖ Lara Exploration founder with +30 ❖ +40-year track record with years in global mineral exploration. ❖ +25 years in the resource industry
Slide 26: Cukaru Peki Discovery in Serbia
Cukaru Peki Discovery in Serbia CO-FOUNDED RESERVOIR MINERALS Simon, Miles, and Chris co-founded Reservoir Minerals (TSXV: RMC), listed January 2011 at C$0.65 per share with a ~C$13M Market Cap. COPPER-GOLD DISCOVERY MADE The Cukaru Peki copper-gold discovery made with JV funding from Freeport MacMo
Slide 27: Global Copper Discoveries
Global Copper Discoveries Copper Discoveries & Exploration Budgets (1990-2023) Lara Team Discovery Major Copper Discoveries (1990-2023) Lara Team Discovery Liberdade 180 5,000 10 Cukaru Peki March 2013 197m @ 0.72% CuEq Lara Team Discovery 4,500 160 July 2012 266m @ 1.23% CuEq. Celesta Production 20
Slide 28: Copper Discoveries, 2015 – 2025
Copper Discoveries, 2015 – 2025 TOP 10 BY CONTAINED COPPER (1) Discovery Copper in reserves, resources and past production (metric Discovery Year Discovered by Country tons) Western Foreland 2017 Ivanhoe Mines DRC 4,959,000 Cachorro 2015 Antofagasta PLC Chile 3,158,000 Winu 2017 Rio Tinto Australia
Slide 29: Copper
Copper Record Size Structural Deficits Fast Approaching Refined copper supply Copper demand Peak copper supply is approaching Projected deficit Operation in 2035: 9.9Mt1 Construction Potential for Planalto to Deliver Feasibility, Permitting, Financing into Projected Copper Deficit Definition, PEA, P
Slide 30: Planalto Resource Estimate
Planalto Resource Estimate Zone Resource Resource Cu Grade Au Grade Equivalent Cu Cu Au Category (Mt) (%) (g/t) Cu (%) (Kt) (M lbs) (Koz) Main Indicated 47.7 0.53 0.06 0.56 253 557 92 Mineralization Inferred 77.7 0.51 0.06 0.54 396 874 150 Host Rock Inferred 76.3 0.2
Slide 31: Contact
CONTACT Christopher MacIntyre Vice President, Corporate Development Suite 414, 100 Richmond Street West Toronto, Ontario M5H 3K6, Canada Phone: +1 416-703-0010 Email: [email protected] Fax: +1 416-964-0823 www.laraexploration.com TSXV: LRA 31 LARA EXPLORATION | TSXV: LRA | CREATING VALUE THR
Slide 32: LARA EXPLORATION | TSXV: LRA | CREATING VALUE THROUGH DISCOVERY IN SOUTH AMERICA
32 LARA EXPLORATION | TSXV: LRA | CREATING VALUE THROUGH DISCOVERY IN SOUTH AMERICA
Lara Exploration — Investor Presentation (October 2026) on 6ix