Mr. Chris MacIntyre reports

LARA EXPLORATION TO RAISE UP TO AN AGGREGATE OF C$33,750,000 PURSUANT TO A C$20,250,000 BROKERED PRIVATE PLACEMENT AND A CONCURRENT C$13,500,000 NON-BROKERED PRIVATE PLACEMENT

Lara Exploration Ltd. has entered into an agreement with SCP Resource Finance LP, pursuant to which the lead agent has agreed to act as lead agent for and on behalf of a syndicate of agents in connection with a best efforts brokered private placement of up to 6.75 million common shares of the company at a price of $3 (Canadian) (equivalent to $2.22 (U.S.) based on an exchange rate of $1.35 (Canadian) per $1 (U.S.)) per common share for maximum gross proceeds to the company of up to approximately $20.25-million (Canadian) (equivalent to $15-million (U.S.) based on an exchange rate of $1.35 (Canadian) per $1 (U.S.)). Subject to the closing of the brokered private placement, the company has agreed to pay to the agents a cash fee equal to 6 per cent of the gross proceeds of the brokered private placement (reduced to 0 per cent in respect of any purchasers who are insiders of the company).

The company furthermore intends to complete a concurrent non-brokered private placement for additional proceeds of up to 4.5 million common shares at the issue price for maximum gross proceeds to the company of up to approximately $13.5-million (Canadian) (equivalent to $10-million (U.S.) based on an exchange rate of $1.35 (Canadian) per $1 (U.S.)). No finders' fees are expected to be payable in respect of the non-brokered private placement.

The closing of both the brokered and non-brokered placements is expected to occur concurrently on or about March 31, 2026, or, in respect of the brokered private placement, such other date as may be agreed upon by the company and the agents. Completion of the brokered and non-brokered private placements is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. Securities issued under the non-brokered and brokered placements will be subject to a statutory four-month hold period under applicable Canadian securities laws from the date of closing.

The proceeds of the brokered and non-brokered private placements will be used by Lara to advance the Planalto copper-gold project, and for general corporate and working capital purposes.

About Lara Exploration Ltd.

Lara is an exploration company, focused on advancing its 100-per-cent-owned Planalto copper-gold project in the Carajas mining province in northern Brazil.

The company currently also 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.

We seek Safe Harbor.