Lara Exploration Ltd. · TSXV:LRA
Lara Exploration — Investor Presentation (January 2024)
24 slides from Lara Exploration's investor presentation, Jan 23, 2024
Slide 1: January 2024
c 2 exploration January 2024
Slide 2: Forward Looking Statements
Forward Looking Statements Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “antici
Slide 3: Introduction
Introduction Intelligent Investment in Exploration and Acquisitions leads to Discovery and Value Creation Acquisition. Exploration. Growth. Acquire and advance Find Joint Venture Deliver significant share projects through partners to fund further price appreciation prospecting and early- exploration
Slide 4: Management
Management Miles Thompson (Chairman) Simon Ingram (President, CEO, and • Lara Exploration founder with +30 years in global mineral exploration. Director) • Founder and Chairman of Reservoir • +25 years in the resource industry. Minerals (TSX: RMC), sold to Nevsun (TSX: • Co-Founder of Reservoir Mine
Slide 5: Cukaru Peki Discovery in Serbia
Cukaru Peki Discovery in Serbia • We were co-founders of Reservoir Minerals (TSX: $12 $10 RMC), listed January 2011 with a CAD ~$13 Million Market Cap. and CAD $9.6 Million in cash. $8 $6 • The Cukaru Peki copper-gold discovery made with $4 JV funding from Freeport MacMoRan in July 2012. $2 • Reserv
Slide 6: Lara Portfolio Summary
Lara Portfolio Summary • In Brazil, Lara’s exploration team in the Carajás Province has already generated three copper discoveries at: Planalto, Celesta and Liberdade. The Brazil portfolio also includes the Itaituba vanadium prospect, the Vertical iron ore deposit and Itaituba Liberdade Celesta four
Slide 7: Planalto Discovery in Brazil
Planalto Discovery in Brazil TSX-V: LRA January 2024 7
Slide 8: Planalto Copper Project
Planalto Copper Project • 26,000m of drilling completed to date, mostly through a JV with Capstone Copper that ended in Q3-2023, project now 100%-owned. • Close to Vale and BHP owned iron and copper mines and Lara's minority owned Celesta copper-gold deposit. • 3,866-hectare property located on a pa
Slide 9: Planalto Deposit – Resource Drilling
Planalto Deposit – Resource Drilling • Drilling 2017-19 defined copper gold mineralization over an area of 350x350m at Homestead, starting at or near to surface. • Northern licenses optioned in 2020. Drilling in 2021- 2022 identified a new area of mineralization denominated Cupuzeiro along strike to
Slide 10: Planalto Deposit – Development Plans
Planalto Deposit – Development Plans • Preliminary metallurgical tests on the original Homestead target showed good recoveries of both copper and gold. Core samples from the Cupuzeiro target are currently undergoing testing. • The Brazilian Mining Agency (ANM) has approved the original Homestead res
Slide 11: Will Planalto be Mined?
Will Planalto be Mined? • Four operating copper mines and four development projects in the same district, in addition to Vale’s two giant iron ore mining projects. Well understood permitting process. TSX-V: LRA January 2024 11
Slide 12: Liberdade Copper Project
Liberdade Copper Project Potential for a world class copper project Liberdade • Also located in the prolific Carajás mining district. Cu • Discovery made in JV partnership with Codelco on the 8,491 hectares Fortuna target; one of several targets on the property. Stage: Resource Drilling Exploration
Slide 13: Celesta Copper-Gold Mine
Celesta Copper-Gold Mine • Mining and processing started in H2-2020, with modest royalty revenue to Lara in 2020-22. • Additional mill and flotation circuits were installed to double plant capacity in 2022. • Lara owns 5% net-profit interest in Celesta and a 2% Net Smelter Returns Royalty on product
Slide 14: Peru Portfolio
Peru Portfolio Tayacoto NSR Au 1,000 hectares Pampas NSR Stage: Project Generation Au 1,200 hectares Stage: Project Generation Corina Partners Au-Ag Alli Allpa 12,800 hectares P2O5 Stage: Resource Drilling & 3,000 hectares Feasibility Stage: Resource Drilling Picha NSR Cu-Ag Puituco-Kenita Lara 4,70
Slide 15: Alli Allpa Phosphate Project
Alli Allpa Phosphate Project Potential for a world class phosphate project • Lara is raising its interest in the Alli Allpa Phosphate Project from 33.33% to 70% by investing US$500,000 in project expenses. • Potential for a world-class sedimentary phosphate deposit*, located 250km east of Lima. • St
Slide 16: Corina Gold-Silver Discovery
Corina Gold-Silver Discovery • New 100% Lara owned discovery of epithermal gold-silver bearing veins and breccias, located near Hochschild’s Pallancata-Selene mining operation and Buenaventura’s Trapiche copper development project. • Multiple intercepts reported in the vein-breccia structures, toget
Slide 17: Corina – Bulk Tonnage Potential
Corina – Bulk Tonnage Potential • Drillhole DHCOR19007: from 134.4 – 139.70 m shows intense stock working of the rhyolitic tuffs hosting the Corina breccia–vein structure. Gold and silver grades for the core sampling are as shown in the table below. • Corina structure only part tested and there are
Slide 18: Lara Copper Royalty
Lara Copper Royalty • Porphyry copper deposit with a mineralized footprint 2km by 0.5km. • Lara ownership 45%. Option signed in July 2020 to sell 100% of the project to Minsur for US$5.75 million and a 1.5% NSR royalty. • Located at low altitude, close to infrastructure and to the coast, in the same
Slide 19: Joint Ventures and Royalties
Joint Ventures and Royalties Country Partner Project Commodity Lara % Receivable US$M Royalties Codelco Liberdade Copper 49% 2% NSR Seven Cumaru Manganese Royalty $2.00/t Brazil Vertical Vertical Iron Royalty 0.8 $0.75 - $1.5/t Tessarema/North Celesta Copper-Gold 5% 0.96 2% NSR Serabi Fofoca Sul Gol
Slide 20: Lara’s Diverse Project Portfolio
Lara’s Diverse Project Portfolio Au Cu Fe Mining Mn Bifox P V Celesta Zn Development and Construction Planalto Resource Drilling Liberdade Corina Cumaru Lara and Feasibility Vertical Alli Allpa Exploration Itaituba Puituco Tocantins Picha Drilling Fofoca South Generative NE Brazil Pampas Tayacoto Ca
Slide 21: Share Capital and Sustainability
Share Capital and Sustainability Adrian Day Asset Capitalization Management Management & 19% Directors 18% Share Price (Close Jan 22, 2024) (C$) $ 0.63 Cash (Q3 filing Sept 30, 2023) (C$ mm) $ 2.96 Sprott 9% Shares Outstanding 45,800,014 Options 4,055,000 Warrants 3,068,703 EuroPacific Gold Fund 5%
Slide 22: Share Performance
Share Performance LRA.V Performance LTM $1.00 1,400,000 $0.90 1,200,000 Capitalization $0.80 Share Price (Jan 22, 2024) (C$) $0.63 Common Shares (O/S) (mm) 45.80 $0.70 1,000,000 Equity Value (C$ mm) $28.85 Add: Debt (C$ mm) - $0.60 Add: Minority Interest (C$ mm) - Share Price (C$) 800,000 Less: Cash
Slide 23: Investment Case
Investment Case Well-established exploration and project generator with experienced technical and commercial team JV partnership with major and junior companies providing risk mitigation and exploration upside New copper discovery at Planalto New gold discovery at Corina available for JV TSX-V: LRA
Slide 24: Contact
Contact For more information please contact: Christopher MacIntyre Vice President, Corporate Development Suite 414, 100 Richmond Street West Toronto, Ontario M5H 3K6, Canada Phone: +1 416-703-0010 Fax: +1 416-964-0823 Or visit us online at: www.laraexploration.com TSX-V: LRA January 2024 24
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