Business
Lara Signs Agreement to Acquire License Adjacent to Its Planalto Project
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Lara Exploration Ltd. (TSXV: LRA) ("Lara" or the "Company") is pleased to report that its wholly owned Brazilian subsidiary has signed a purchase and sale agreement with Atlantica do Brasil Mineração Ltda. ("Atlantica"), to acquire an exploration license adjacent to Lara's Planalto Copper-Gold Project in the Carajás Mineral Province in northern Brazil. The 345-hectare license lies along strike from and has the potential to add to
About this update from Atlantica, Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Lara Exploration Ltd. (TSXV: LRA) ("Lara" or the "Company") is pleased to report that its wholly owned Brazilian subsidiary has signed a purchase and sale agreement with Atlantica do Brasil Mineração Ltda. ("Atlantica"), to acquire an exploration license adjacent to Lara's Planalto Copper-Gold Project in the Carajás Mineral Province in northern Brazil. The 345-hectare license lies along strike from and has the potential to add to Lara's Silica Cap resource.","length":566,"tagName":"p"},{"type":"text","content":"Lara has agreed to drill a minimum of 2,000 metres and to prepare a NI-43-101-compliant Technical Report ("TR") by the end of 2027. Under the terms agreed with Atlantica, Lara will make the following staged payments, based predominantly upon exploration success:","length":272,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"CAD$375,000 in Lara shares to Atlantica on acceptance of the agreement by the TSX Venture Exchange. The number of shares will be based on the 20-day volume weighted average price of Lara's shares preceding the issuance date.","length":228,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"By December 2027, Lara will pay a Success Fee equivalent to US$0.06/lb of copper contained in Measured and Indicated Resources in the TR.","length":137,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"By December 2028, Lara will pay an additional Success Fee on the same terms on any additional Measured and Indicated Resources included in an updated TR.","length":153,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"On any additional Measured and Indicated Resources estimated in any subsequent TR after the end of 2028, the Success Fee will be calculated at a rate of US$0.08/lb of copper.","length":174,"tagName":"p","attribs":{}}]}],"tagName":"ol","bulletedList":false,"length":692},{"type":"text","content":"The Success Fee can be paid in installments annually, in either cash or Lara shares at Lara's discretion, with a maximum of US$1.25 million due in any one year. There is a minimum payment of US$500,000 regardless of the resource size discovered due at the end of 2027. Atlantica and an underlying vendor will each be entitled to a 1%...