SPROTT RESOURCE CORP.

Lara Exploration report that it has registered claims, totaling approximately 80,000 hectares, covering a series of highgrade phosphate beds in the Cretaceous sedimentary sequences in the Boyacá District of the Central Colombian Andes. There are three main phosphate-bearing units within the sequence. In various places these phosphate beds are mined on a small-scale to produce 25-35% P2O5 phosphate rock, which is generally milled and consumed locally as direct application fertilizer.