Lara Exploration Ltd. · TSXV:LRA
Lara Exploration — Investor Presentation (April 2022)
33 slides from Lara Exploration's investor presentation, April 2022
Slide 1: Lara Exploration April 2022
c 2 exploration April 2022
Slide 2: Forward Looking Statements
Forward Looking Statements 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”, “antici
Slide 3: Management
Management Miles Thompson (Chairman, President & CEO) • Lara Exploration founder with +30 years in global mineral exploration. • Founder and Chairman of Reservoir Minerals (TSX: RMC), sold to Nevsun(TSX: NSU) for $512m in 2016. • Prior to Lara, was Manager Business Development for Gold Fields Explor
Slide 4: Acquisition. Exploration. Growth.
Strategy Intelligent Investment in Exploration and Acquisitions leads to Discovery and Value Creation Acquisition. Exploration. Growth. Acquire and advance Find Joint Venture Deliver significant share projects through partners to fund further price appreciation prospecting and early- exploration and
Slide 5: Reservoir Minerals
Reservoir Minerals • Miles Thompson and Christopher MacIntyre were co-founders of TSX.V:RMC Reservoir Minerals (TSX: RMC), which listed January 2011 at $12 $0.65/share plus a full warrant at $0.90/share. • World class Cukaru Peki copper-gold discovery made with JV $10 funding from Freeport in July 2
Slide 6: Brazil Portfolio
Brazil Portfolio Itaituba V Liberdade Celesta 951 hectares Cu Stage: Exploration Cu 8,491 hectares Stage: Resource Drilling 857 hectares Stage: Production Vertical Partners Fe 1,227 hectares Stage: Development Planalto Cu Fofoca 3,866 hectares Stage: Resource Drilling Au 947 hectares Stage: Explorat
Slide 7: Liberdade Copper Project
Liberdade Copper Project Potential for a world class copper project with a world class partner Liberdade • Prolific Carajás mining district in northern Brazil Cu • Discovery made in JV partnership with Codelco on the 8,491 hectares Fortuna target; one of several on the property. Exploration Stage: R
Slide 8: Liberdade Copper Project
Liberdade Copper Project Potential for a world class copper project with a world class partner Characteristics of Liberdade that will lead to a successful development: In a prolific Brazilian Favourable fiscal & Access to water mining belt legal jurisdiction Supportive Unpaved road access High tonna
Slide 9: Planalto Copper Project
Planalto Copper Project Potential for a midsized copper project and a Brazilian entry point for Capstone • IOCG Copper discovery made by Lara in 2018. Celesta (Cu,Au) • Capstone can earn 70% by Serra Norte (Fe) carrying Lara's 30% share through to production. • Located on a paved road, in Antas Nort
Slide 10: Homestead Target - Drilling
Homestead Target - Drilling • Copper-gold mineralization over 350m N-S and 350m E-W in area • Open to the north in the newly optioned Zaspir and Anglo properties, and to the east and southeast within the existing property. • Budget approved for ~4,350m of step- out drilling in 2021-2022. • Drilling
Slide 11: Homestead Northern Extension
Homestead Northern Extension • Signed option agreements to purchase neighbouring licenses from Anglo American Brazil and Zaspir in late 2020, which potentially extends Homestead for 1,500m along strike to the north. • Completed surface mapping, sampling and IP surveys on the new areas in 2021. Outcr
Slide 12: Planalto Copper Project
Planalto Copper Project Potential for a midsized copper project and a Brazilian entry point for Capstone Characteristics of Planalto that will lead to a successful development: In a prolific Brazilian Supportive Favourable fiscal & mining belt government legal jurisdiction Near to roads and Access t
Slide 13: Celesta Copper-Gold Mine
Celesta Copper-Gold Mine • Mining from Celesta Pit-1 and processing started in H2-2020, with modest royalty revenue to Lara in 2020-21. • Additional mill and flotation circuits have been installed to more than double plant capacity in 2022. • Second pit developed at Celesta-2 in 2021 with a third to
Slide 14: Celesta Pit-1
Celesta Pit-1 • Inferred resource of 2.14Mt grading 4.2% copper and 0.66ppm gold. • Cut-back planned for Q2-2022 to access high- grade transition zone (chalcocite) material. Please refer to the Company’s 43-101 Technical Report “Maravaia Copper-Gold Deposit, Carajas Mining District, Para, Brazil” by
Slide 15: Celesta - Pit 1
Celesta - Pit 1 • Secondary copper minerals, including higher-grade chalcocite zones. Mining the weathered transition zone with supergene enrichment of both copper and gold. April 2022 15
Slide 16: Celesta - Pit 2
Celesta - Pit 2 • Panoramic view of Celesta Pit 2 – chalcopyrite mineralization hosted in metamorphosed, brecciated and altered mafic lithologies, similar in style to the nearby Antas North mine operated until recently by Oz Minerals. April 2022 16
Slide 17: Celesta - Pit 2
Celesta - Pit 2 • Chalcopyrite exposed in the pit wall. Pile of blasted material with chalcopyrite waiting trucking to the plant April 2022 17
Slide 18: Celesta – Pit-2 Drilling
Celesta – Pit-2 Drilling Drill hole From Width ID (m) To (m) (m) Cu (%) Au (g/t) DH-NES-12 2.00 8.52 6.52 1.09 0.05 DH-NES-12 13.50 23.00 9.50 3.71 0.42 DH-NES-12 25.60 32.00 6.40 2.97 0.31 DH-NES-14 0.00 20.58 20.58 3.04 0.30 DH-NES-14 22.93 35.27 12.34 1.42 0.48 DH-NES-16 7.04 24.53 17.49 2.85 0.7
Slide 19: Celesta - Growth Targets
Celesta - Growth Targets • Five IOCG breccia bodies so far identified, with Osmar-1 (Pit 1) and Osmar-2 (Pit-2) already in production and Galpão ready for development. • Pit-2 started operating in early 2021 to replace Pit-1 during the cut-back. From Q3-2021 production was derived from both pits. •
Slide 20: Celesta – Plant Expansion
Celesta – Plant Expansion • A second milling and flotation circuit has been added in Q3-Q4-2021 to double the plant capacity, in addition to a filter press and upgrades to the water recycling and management systems, commissioning underway in Q1-2022. April 2022 20
Slide 21: Itaituba Vanadium Project
Itaituba Vanadium Project • Lara 100%-owned iron-titanium-vanadium prospect. • Scout drilling was completed targeting titano-magnetite bodies with concentrate samples containing 1% V2O5 (maximum of 1.03% V2O5). • The gabbroic host rocks also contain disseminated vanadium- bearing magnetite that can
Slide 22: Peru Portfolio
Peru Portfolio Huaylas Tayacoto Cu-Au Au 1,400 hectares 1,000 hectares Stage: Project Generation Stage: Project Generation Pampas Partners Au 1,200 hectares Stage: Project Generation Corina Au-Ag 12,800 hectares Puituco-Kenita Stage: Resource Drilling & Feasibility Cu-Zn-Ag 2,600 hectares Stage: Pro
Slide 23: Corina Gold Royalty - Peru
Corina Gold Royalty - Peru • New discovery of epithermal gold-silver bearing veins and breccias, located within trucking distance of Hochschild’s Selene processing plant. • Optioned to Hochschild for $4.15m in cash payments and 2% NSR royalty. Lara has received $0.65m to date. • Multiple Au-Ag inter
Slide 24: Corina Gold-Silver Discovery
Corina Gold-Silver Discovery Please refer to: “Multiple Gold-Silver Intercepts from Drilling at the Corina Gold Project in Peru” released October 1, 2019 and “Hochschild Intercepts 31.55m Averaging 4.9g/t Gold and 43g/t Silver at Lara’s Corina Gold Project in Peru” released February 2, 2021 for deta
Slide 25: Corina Gold-Silver Discovery
Corina Gold-Silver Discovery • Corina lies in a mountain valley above 4,000m altitude, with good unpaved road access. • The land is used by the local community for seasonal grazing and there is no-one living fulltime in the vicinity. • The Corina discovery is located approximately 25km from Hochschi
Slide 26: Lara Copper Royalty
Lara Copper Royalty • Porphyry copper deposit with a mineralized footprint 2km by 0.5km. • Lara ownership 45%. • Option signed in July 2020 to sell 100% of the project to Minsur for US$5.75 million and a 1.5% NSR royalty. • Located at low altitude, close to infrastructure and to the coast, in the sa
Slide 27: Puituco Zinc-Lead-Silver-Project
Puituco Zinc-Lead-Silver-Project • Adjacent to the Riqueza project being drilled by ASX-listed Inca Minerals. Lara acquired the license at government auction. Surface sampling (63 channel samples) returned significant zinc-lead-silver values in vertical brecciated structures and two related low-angl
Slide 28: Joint Ventures and Royalties
Joint Ventures and Royalties Country Partner Project Commodity Lara % Receivable US$m Royalties Full Carry to Capstone Planalto Copper 30% 0.40 Production Codelco Liberdade Copper 49% 2% NSR Brazil Seven Cumaru Manganese Royalty $2.00/t Vertical Vertical Iron Royalty 0.80 $0.75 - $1.5/t Tessarema/No
Slide 29: Lara’s Diverse Project Portfolio
Lara’s Diverse Project Portfolio Au Cu Fe Mining Mn Bifox P V Celesta Zn Development Cumaru and Construction Vertical Resource Drilling Planalto Planalto Corina and Feasibility Liberdade Lara Exploration Itaituba Puituco Tocantins Drilling Fofoca South Picha Generative NE Brazil Pampas Tayacoto Expl
Slide 30: Lara Exploration in Summary
Lara Exploration in Summary Canadian-listed prospect and royalty generator, with experienced local teams working to identify, acquire and define targets, then introduce partners to fund further exploration and project Itaituba Liberdade Celesta development. Fofoca South Vertical Puituco Planalto In
Slide 31: Share Capital and Sustainability
Share Capital and Sustainability Capitalization Capitalization Share Price (April 05,2022) (C$) $ 0.62 Shares Outstanding 39,627,608 Cash (Dec 2021) (C$ mm) $ 1.90 Options 3,700,000 Payments due from Partners (US$ mm) $ 3.65 Warrants 2,000,000 (est. 2022) 2022 Budget (C$ mm) $ 1.50 Fully Diluted 45,
Slide 32: Summary and Conclusions
Summary and Conclusions • Lara has multiple opportunities for exploration success within its portfolio, in addition to a growing portfolio of royalties, with the Celesta Copper Mine in Brazil generating first royalty revenues. • Flagship copper discovery at Planalto in Brazil being advanced by a JV
Slide 33: Contact
Contact For more information please contact: Christopher MacIntyre Vice President, Corporate Development Suite 414, 100 Richmond Street West Toronto, Ontario M5H 3K6, Canada Phone: +1 416-703-0010 Fax: +1 416-964-0823 Or visit us online at: www.laraexploration.com April 2022 33
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