Mr. Miles Thompson reports

LARA ANNOUNCES BOARD AND MANAGEMENT CHANGES

Lara Exploration Ltd. has appointed Simon Ingram as president, chief executive officer and a director of the company, with Miles Thompson remaining in his role as chairman.

Mr. Thompson commented: "On behalf of us all at Lara, I'd like to welcome Simon to the team, we very much look forward to working with him again. The Planalto copper-gold discovery in the Carajas of Brazil is now back 100 per cent owned, and we see a great opportunity to create value for shareholders by moving it through the next development stages."

Dr. Ingram is a senior international executive with strong technical and public company leadership experience, which he gained during over 25 years working globally in natural resource industries. Dr. Ingram was a co-founder of Reservoir Capital (REO.V) and Reservoir Minerals (RMC.V). As president, CEO and director of Reservoir Minerals, Dr. Ingram and his team were awarded the 2016 Thayer Lindsley Award for the discovery of the Cukaru Peki copper gold deposit in the Timok district of Serbia by Reservoir and JV partners Freeport-McMoRan. The Reservoir team was also recognized by the UK Mining Journal Outstanding Achievement Awards for the best Small and Mid-Cap Deal of the Year in 2016, having created over $500-million (U.S.) of value for Reservoir shareholders after a business combination with Nevsun Resources. Dr. Ingram holds an exploration and mining geology BSc and mineral resource evaluation focused PhD from Cardiff University.

Pursuant to the company's stock option plan, 400,000 incentive stock options exercisable at 54 cents per share for a period of five years have been granted to Dr. Ingram.

About Lara Exploration Ltd.

Lara is an exploration company following the prospect and royalty generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol LRA.