Mr. Chris MacIntyre reports

LARA AGREES TO SETTLE LAWSUIT AND RECOVER THE CURIONOPOLIS IRON PROJECT

Lara Exploration Ltd. has agreed with Vertical Mineracao Ltda. to settle the lawsuit and recover the Curionopolis iron project, which has now been transferred back to Lara's Brazilian subsidiary.

The Curionopolis iron project comprises a 1,348-hectare licence area, covering iron formations located in the Carajas district of northern Brazil that was optioned to Vertical in 2009 for staged cash payments and production royalties. Vertical completed exploration drilling, resource estimates, economic and environmental studies, but defaulted on its payment obligations to Lara. Lara initially filed for arbitration in 2016 which was contested, and then embarked upon legal action in 2022.

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 financed 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.