Lara Exploration Ltd., reported that it has agreed with Votorantim Metais Zinco S.A. to extend by one year, to May 16, 2012, the Votorantim Metais option to earn an initial 55% interest in the Company’s Canabrava VMS Project in Brazil. Votorantim may raise its interest to 75% by funding Lara’s
equity cost of the mine development, on terms substantially the same as those of the debt financing.
Reported that airborne geophysics has defined twenty-three targets. Of the twenty-three targets, ten are considered priority one, five as priority two and eight as third priority. Stream sediment geochemistry was also completed over the whole belt.
September 30, 2008
Completed a helicopter-borne electromagnetic survey and initiated a surface
geochemical sampling program to define targets for drilling
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