Vancouver, British Columbia--(Newsfile Corp. - January 19, 2026) - Lara Exploration Ltd. (TSXV: LRA) (OTC Pink: LRAXF) ("Lara" or the "Company") is pleased to provide an update on work at the recently acquired Atlantica exploration license, contiguous to the southeast of the Planalto Project, in the Carajás Mineral Province of northern Brazil. New surface work, core relogging and resampling undertaken by Lara since the acquisition last October, demonstrate potential to extend the Planalto resource along strike to the southeast from the Silica Cap deposit for approximately 3km within the enlarged license block.

Figure 1: Planalto Copper Project - Exploration Upside

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Mineração Atlantica Ltda. completed five widely spaced diamond drill holes for a total of 1,754.20m in late 2020 to early 2021. All the drill core for these holes, along with the sample analysis data and geological database, has been recovered and geological relogging completed. The volcanic host rocks, hydrothermal alteration features and the chalcopyrite mineralization style logged in the cores are very similar to those observed in drill core at the Planalto Project (better described in the technical reports on the Mineral Resource Estimation of October 9, 2024, and the more recent Preliminary Economic Assessment of October 21, 2025 both available on the Company website www.laraexploration.com and filed on SEDAR+ (www.sedarplus.ca ) on October 16, 2024 and November 17, 2025, respectively.

In Q4-2025 Lara completed a soil sampling survey covering most of the Atlantica license, outlining three distinct anomalous copper zones trending NW-SE through the license. The strongest copper anomaly zone is in the west along the highly metasomatized granite-intermediate volcanics contact, a similar setting to the Silica Cap mineralized structure at the Planalto Project. Of the five historic holes only hole DDATL21-003 drill tested this target trend. The other two copper zones, both several hundred meters wide, are approximately parallel to the granite contact zone and are at approximately 500m and 1000m, respectively, to the east of the contact zone within mafic to intermediate andesitic volcanic rocks. Sample results indicate the presence of anomalous copper intersections in the other four drill holes, which have only been partially sampled for analysis.

Core logging suggests that the previous sampling of the drill core was restricted to the main chalcopyrite-rich sections of the core, with many intervals having been only partially sampled. Resampling of the core is in progress, with some analyses already available. Resampling of the cores has been extended to include the weathered oxide zone in all holes and has been instrumental in identifying two of the drill holes (holes DDATL21-002 and DDATL21-004) significant oxide copper intersections which are coincident with copper soil anomalies identified in the recent soil sampling study as follows:

• Hole ATL21-002: 35.80m at 0.35% Cu from 3.2 m down hole
• Hole ATL21-004: 17.00m at 0.25% Cu from the surface down hole.

Based on the experience at the Planalto Project, the down dip extensions of both these intersections into the fresh rock sulfide zones to the east constitute high priority drill targets. Neither of these two areas was tested by the historical drilling. Drill testing by Lara is planned for late Q1-26 towards the end of the current wet season.

The more significant copper intersections now recognized in the five holes, incorporating the historical and recent sample assay data, are as follows:

Ongoing sampling of the core continues to check for extensions of other chalcopyrite zones in the core historically only partially sampled, and to validate the historical Atlantica sampling and analysis database.

Drillhole collars, Sampling methodology, Chain of Custody, Quality Assurance and Quality Control

Atlantica drill hole collars are as follows:

The recent sampling of the drill core by Lara has been undertaken with the supervision of the company's Vice President Exploration and the chain of custody of the drill core from the previous owner's core storage facility near Parauapebas to the Company's sample preparation facility in Canãa dos Carajás was continuously monitored. Sample intervals for the drill core were mostly maintained at approximately 2m with some variation in the weathered saprolite and fresh rock zones being at times guided by the core recovery rates and the degree of copper mineralization present. Blank, duplicate core or certified gold and copper reference materials were inserted at approximately every 10th sample by Lara. Resampling of historical sample intervals is in progress to validate the historical sample assay data set.

The drill core samples were delivered by courier to the SGS-Geosol preparation laboratory located in Parauapebas, 65km to the north from the Project, where they were crushed and pulverized. The sample pulps were then dispatched to the SGS-Geosol laboratory in Minas Gerais Lima for analysis. The pulps were subjected to multi-acid digestion with copper and 47 other elements determined by ICP-OES/ICP MS. Gold was determined by the fire assay fusion with a AAS finish on a 50-gram charge.

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara Exploration:

Lara is an exploration company, focused on advancing its 100%-owned Planalto Copper-Gold Project in the Carajás mining district in northern Brazil. Based on the recent Planalto PEA report ¹, it is anticipated that Planalto will be developed as a conventional open pit mine with a low strip-ratio, processing 8 Mtpa via a conventional crushing and grinding circuit followed by froth flotation. A single saleable chalcopyrite concentrate with a minor gold credit is to be transported internationally to third-party smelters. During the first 6 years, the PEA¹ production schedule produces on average 36 kt (79 million lb) of copper and 7200 oz of gold per year, and over an 18-year mine life, Planalto will produce 560 kt (1.2 billion lb) of copper and 111,000 oz of gold. The project is located on private farmland, 4 km from the state highway with high tension powerlines alongside and close to two major Carajás mining towns within excellent infrastructure.

Note 1: A NI 43.101 Preliminary Economic Assessment (PEA) and Mineral Resource Estimate are detailed in reports filed on SEDAR+ (www.sedarplus.ca) on November 17, 2025 and October 17, 2024 respectively. The PEA is preliminary in nature, and it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and, as such, there is no certainty that the PEA results will be realized.

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".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.
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