Lara Exploration Ltd. · TSXV:LRA
Lara Exploration — PDAC 2023
25 slides from Lara Exploration's conference presentation, March 2023
Slide 1: PDAC 2023
c 2 exploration PDAC 2023
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: 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 4: Management
Management Miles and Chris were co- Miles Thompson (Chairman, President & CEO) • Lara Exploration founder with +30 years in global mineral exploration. founders of Reservoir • Founder and Chairman of Reservoir Minerals (TSX: RMC), sold to Minerals, an Eastern Nevsun (TSX: NSU) for $512m in 2016. • P
Slide 5: Cukaru Peki Discovery in Serbia
Cukaru Peki Discovery in Serbia • We were co-founders of Reservoir Minerals (TSX: $12 RMC), listed January 2011 at $0.65/share. $10 $8 • The Cukaru Peki copper-gold discovery made with $6 JV funding from Freeport MacMoRan in July 2012. $4 • Reservoir was sold to Nevsun Resources for $2 US$512M in Ju
Slide 6: Lara Portfolio Summary
Lara Portfolio Summary • In Brazil, Lara’s exploration team in the Carajás Province has already generated three copper discoveries at: Planalto, Celesta and Liberdade. The Brazil portfolio also includes the Itaituba ferro-vanadium prospect, the Vertical iron ore Itaituba Liberdade Celesta deposit an
Slide 7: Planalto Discovery in Brazil
Planalto Discovery in Brazil TSX-V: LRA March 2023 7
Slide 8: Planalto Copper Project
Planalto Copper Project • Lara discovery holes into the Homestead target in 2018. • Capstone can earn 70% by funding Lara's 30% share through to production. • Close to Vale and Oz Minerals owned iron and copper mines and Lara's minority owned Celesta operation. • Located on a paved road, in an area
Slide 9: Homestead Target - Drilling
Homestead Target - Drilling • Drilling to the end of 2019 defined copper gold mineralization over an area of 350x350m at Homestead. • Mineralization starts at or near to surface. • Preliminary metallurgical tests show good recoveries of both copper and gold. • Mineralization open to the north. Pleas
Slide 10: Northern Extensions
Northern Extensions • In 2020 we signed option agreements to purchase neighbouring licenses to the north. • Completed surface mapping, sampling and IP surveys on the new areas in 2021, showing potential to triple the strike length. • Outcropping mineralization, copper in soil anomalies and IP charge
Slide 11: Cupuzeiro Drilling Results
Cupuzeiro Drilling Results • The 16 holes drilled so far at Cupuzeiro have outlined a high- grade core (>1% Cu Eq) within a wider zone of mineralization that is 22-010 open to the north and south 21-005 140.56m @ 0.34% Cu 339.75m @ 0.49% Cu Including: 26.65m @ 0.85% Cu and: 7.98m @ 0.78% Including:
Slide 12: Exploration Potential
Exploration Potential Z3 Z1 Zones defined using a Z2 0.15% Cu cutoff • Cupuzeiro results at least double the size potential of Homestead • Only half the strike length of the system tested so far. • 10,000m of drilling planned in 2023, with delivery of a PEA in Q1-2024. TSX-V: LRA March 2023 12
Slide 13: Will Planalto be Mined?
Will Planalto be Mined? • Four operating copper mines and four development projects in the same district, in addition to Vale’s two giant iron ore mining projects. Well understood permitting process. TSX-V: LRA March 2023 13
Slide 14: Liberdade Copper Project
Liberdade Copper Project Potential for a world class copper project Liberdade • Also located in the prolific Carajás mining district. Cu • Discovery made in JV partnership with Codelco on the 8,491 hectares Fortuna target; one of several targets on the property. Stage: Resource Drilling Exploration
Slide 15: Celesta Copper-Gold Mine
Celesta Copper-Gold Mine • Mining and processing started in H2-2020, with modest royalty revenue to Lara in 2020-22. • Additional mill and flotation circuits were installed to double plant capacity in 2022. • Lara owns 5% net-profit interest in Celesta and a 2% Net Smelter Returns Royalty on product
Slide 16: Peru Portfolio
Peru Portfolio Tayacoto Au 1,000 hectares Pampas Stage: Project Generation Au 1,200 hectares Stage: Project Generation Corina Partners Au-Ag Mantaro 12,800 hectares P2O5 Stage: Resource Drilling & 3,000 hectares Feasibility Stage: Resource Drilling Picha Cu-Ag Puituco-Kenita Lara 4,700 hectares Stag
Slide 17: Mantaro Phosphate Project
Mantaro Phosphate Project Potential for a world class phosphate project • Lara is raising its interest in Mantaro Phosphate Project from 33.33% to 70% by investing US$500,000 to reactivate the project. • Potential for a world-class phosphate deposit*, located 250km east of Lima. • Strategically loca
Slide 18: 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$5.75 million and a 1.5% NSR royalty. • Located at low altitude, close to infrastructure and to the coast, in the same
Slide 19: Corina Gold-Silver Discovery
Corina Gold-Silver Discovery • New discovery of low sulphidation epithermal gold- silver bearing veins and breccias, located within trucking distance of Hochschild’s Selene processing plant. • Until recently under option to Hochschild. • Multiple Au-Ag intercepts reported. • Lara plans to review dat
Slide 20: Joint Ventures and Royalties
Joint Ventures and Royalties Country Partner Project Commodity Lara % Receivable US$M Royalties Full Carry to Capstone Planalto Copper 30% 1.75 Production Codelco Liberdade Copper 49% 2% NSR Brazil Seven Cumaru Manganese Royalty $2.00/t Vertical Vertical Iron Royalty 0.80 $0.75 - $1.5/t Tessarema/No
Slide 21: Lara's Diverse Project Portfolio
Lara’s Diverse Project Portfolio Au Cu Fe Mining Mn Bifox P V Celesta Zn Development and Construction Planalto Resource Drilling Liberdade Corina and Feasibility Cumaru Vertical Lara Mantaro Exploration Itaituba Puituco Tocantins Drilling Fofoca South Picha Generative NE Brazil Pampas Tayacoto Explo
Slide 22: Share Capital and Sustainability
Share Capital and Sustainability Capitalization Share Price (Feb 24, 2023) (C$) $ 0.76 Management & Directors 15% Float 27% Cash (C$ mm) $ 4.73 Adrian Day Asset Shares Outstanding 45,800,010 Management 16% Options 3,530,000 High-Net- EuroPacific Asset Worth Management 15% 2% Sprott Asset Warrants Ma
Slide 23: Share Performance
Share Performance 5 Year Performance $1.20 800,000 Capitalization 700,000 $1.00 Share Price (Feb 24, 23) (C$) $ 0.76 600,000 Common Shares (O/S) 45,801,010 Equity Value (C$ mm) $ 34.809 $0.80 Add: Debt (C$ mm) 500,000 Add: Minority Interest (C$ mm) Less: Cash & ITM Proceeds (C$ mm) $ 4.73 $0.60 400,
Slide 24: Investment Case
Investment Case Well-established exploration and project generator with experienced technical and commercial team JV partnership with major and junior companies providing risk mitigation and exploration upside New copper discovery at Planalto with Capstone – market recognition of business model Plan
Slide 25: 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 March 2023 25