Minsur Terminates its Option to Acquire the Lara Copper Project in Peru

Rhea-AI Summary

Lara Exploration (OTC: LRAXF) announced that Minsur S.A. has notified the company of its intention to relinquish its option to acquire the 45%-owned Lara Copper Project in southern Peru.

The Lara Copper Project hosts a partly defined copper-molybdenum porphyry with 9,850 metres of drilling completed, a mineralized footprint of approximately 2,000 metres east–west and 500–800 metres north–south, and historical drill highlights including 108 m @ 0.81% Cu, 0.015% Mo (LA-10-32) and 218 m @ 0.57% Cu, 0.042% Mo (LA-10-35).

Technical disclosure was approved by Lara's VP Exploration, a qualified person under NI 43-101.

Positive

• Completed 9,850 metres of diamond and RC drilling
• Mineralized footprint ~2,000 m by 500–800 m
• Drill intercept 218 m @ 0.57% Cu, 0.042% Mo (LA-10-35)

Negative

• Minsur notified it will relinquish its option to acquire the 45% owned Lara Copper Project

News Market Reaction

-4.57%

1 alert

-4.57% News Effect

On the day this news was published, LRAXF declined 4.57%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - November 10, 2025) - Lara Exploration Ltd. (TSXV: LRA) (OTC Pink: LRAXF), ("Lara" or the "Company") advises that its has been notified by Minsur S.A. ("Minsur") of its intention to relinquish its option to acquire the Company's 45%-owned Lara Copper Project in southern Peru.

The Lara Copper Project comprises mineral rights covering a partly defined copper-molybdenum porphyry deposit, located in the Laramate Province of the Ayacucho Department, approximately 40km inland from the town of Palpa on the Panamerican Highway. To date 9,850 metres of diamond and reverse circulation drilling have been completed, outlining a mineralized footprint of 2,000 metres east to west and between 500 metres and 800 metres north to south.

Lara diamond drilling highlights include:

• LA-10-32 which intercepted 108 meters at 0.81% Cu and 0.015% Mo.
• LA-10-35 intercepted 218 meters at 0.57% Cu and 0.042% Mo.

Drilling results from the Lara Project were previously disclosed by Lara in news releases dated January 21, 2008, January 31, 2011 and February 28, 2012, which can be found in the News and Projects sections of the Company website (www.laraexploration.com) and filed on SEDAR+ (www.sedarplus.ca).

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara Exploration

Lara is an exploration company, advancing its 100%-owned Planalto Copper-Gold Project in the Carajás Mineral Province of northern Brazil, with an open pitable Mineral Resource detailed in a NI 43-101 Technical Report filed on October 17, 2024. Scoping studies completed in 2025 are detailed in NI 43-101 Preliminary Economic Assessment, results of which were published on October 21, 2025. Lara follows the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently 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".

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273911

FAQ

What did Lara Exploration announce about the Lara Copper Project (LRAXF) on November 10, 2025?

Lara announced that Minsur notified the company of its intention to relinquish its option to acquire the 45%-owned Lara Copper Project.

How much drilling has been completed at the Lara Copper Project (LRAXF)?

A total of 9,850 metres of diamond and reverse circulation drilling have been completed.

What are the key drill highlights from the Lara Copper Project reported by Lara (LRAXF)?

Notable historic intercepts include 108 m @ 0.81% Cu, 0.015% Mo (LA-10-32) and 218 m @ 0.57% Cu, 0.042% Mo (LA-10-35).

What is the size of the mineralized footprint at the Lara Copper Project (LRAXF)?

The mineralized footprint is reported at approximately 2,000 metres east–west and 500–800 metres north–south.

Who verified the technical information for Lara Exploration's Lara Copper Project (LRAXF)?

Technical disclosure was approved and verified by Michael Bennell, Lara's VP Exploration, as a qualified person under NI 43-101.