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Building a South American Exploration Business Through the Cycle

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”, “anticipate” and other similar words, or statements that certain events or conditions “may” or “will”

occur. Forward-looking statements are based on the opinions and estimates of management on the date the statements

are made, and are subject to a variety of risks and

• uncertainties and other factors that could cause actual events or results to differ materially from those projected in the

forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, as

actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers

should not place undue reliance on such statements.

• The Company does not undertake to update any forward-looking statements that are incorporated by reference herein,

except in accordance with applicable securities laws. For a description of material factors that could cause the Company’s

actual results to differ materially from the forward-looking statements, please review the Company’s Annual Information

Form and Financial Statements filed on www.sedar.com.

• The Qualified Person (QP) for projects is Michael Bennell, Vice President Exploration of the Company.

2 TSX-V: LRA November 2014

http://www.sedar.com

General Overview

• TSXV listed mineral exploration company active in Brazil, Peru, Colombia and Chile.

• South America-based management team that has a track record of exploration

success.

• Multi-commodity mineral property portfolio: precious metals, base metals,

industrial minerals, agricultural commodities and coal.

• Prospect Generator business model with exploration funding mainly derived from

joint ventures and partnerships.

• Recent success at Liberdade (Brazil) in partnership with Codelco, with significant

near-surface copper-gold mineralization intercepted in drilling.

• Exchange ticker symbol: LRA.V


Management and Directors

4

Management Directors

Miles Thompson (President & CEO) Lara founder with +25 years in exploration globally. Previously Manager of Business Development for Gold Fields. Founder and Chairman of Reservoir Minerals. Michael Bennell (VP Exploration) +30 year track record with multiple discoveries in Australia, Brazil and Africa. Previously with BHP Billiton and AngloGold. Christopher MacIntyre (VP Corporate) +6 years in public markets and the resource sector. Commerce and Business graduate Queen’s University. Helio Ikeda (Project Manager Brazil) Lara founder, with +30 years experience of exploration in Brazil. Worked previously for Vale, Billiton and Barrick. Carlos Caceres (Exploration Director Colombia) +30 years experience in coal, metals and oil and gas exploration in Colombia. Carlos Theune (Exploration Manager Chile) +30 years experience in industrial minerals exploration in Chile and internationally.

Michael Winn (Director) Geologist +30 years in oil and gas and mining. Director of several listed exploration companies. Byron King (Director) Geologist and lawyer following the resource industry +30 years. Served in the U.S. Navy, graduate of Harvard, U.S. Naval War College and Pittsburgh. Christopher Jones (Director) Member of the Institute of Canadian Chartered Accountants and Institute of Chartered Financial Analysts of Ontario. Vice President of Duff & Phelps. Adrian Calvert (Director) +15 years in resource industry. Founder of WindRose Capital Ltd. Holds law degree from the University of Queensland and an MBA from Insead. Geoff Chater (Director) +20 years in the industry, President & CEO of Luna Gold, previously First Quantum. Geology graduate Texas Christian University. Andre Gauthier (Director) +30 years in exploration and mining globally, previously for Falconbridge and Cambior.

TSX-V: LRA November 2014

Share Capital and Sustainability

5

Metric Value

Market Capitalization CAD$15 M

Cash & Marketable

Securities ~CAD$1.5 M

Payments due from

Partners (est. 2015-2016) ~CAD$2.0 M

2015 Budget CAD$1.5 M

Insider Ownership ~10% shares

Category Number Percent

Outstanding 30,519,687 82%

Options 3,390,000 7%

Warrants 4,083,135 11%

Fully Diluted 37,019,697 100%


Source: Brent Cook – Exploration Insights

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Concept Pre-discovery Discovery Feasibility Development Startup Deplete

Speculators Leave

Orphan Period

Institutional Investment

Sold to a Miner

Full Value

Timelines for Exploration and Development

6

TSX Venture Exchange 2001-Present

2011 Commodity Price Peak

2007 Market Peak

• The last bear market ran from 1997 to about 2002

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Project Generator Business Model


Joint Ventures, Alliances and Royalties

9

Country Partner Project Commodity Lara % Cash $m Expl $m Shares m Royalties

Brazil Codelco Liberdade Copper 25% 3.30 2% NSR

Brazil Tessarema Curionopolis Copper-Au Royalty 2.00 1.00 2 - 5% NSR

Brazil Aguia Sergipe Potash Shares 0.50 1.50 19.0

Brazil Paradigm Canindé Graphite 20% 0.70 4.50 2% NSR

Brazil Vertical Curionopolis Iron Royalty 0.80 5.00 $0.75 -

$1.5/t

Peru Aruntani Grace Gold Royalty 2.00 0.50 0.75-1%

NSR

Peru Redzone Lara-Tingo Copper 45% 0.85 1% NSR

Peru Hochschild Corina Gold Royalty 4.15 2.00 2% NSR

Chile Kiwanda Bahia Inglesa Phosphate Shares 0.77 5.00 2% NSR

Colombia Kiwanda Carbhid Coal Shares 2% NSR

Colombia Kiwanda Pelaya Coal Shares 2% NSR

Totals 11.12 22.80


Liberdade Copper - Brazil

10

• The Carajás is one of the

most prolific mining

districts in the world. Vale

SA operates its richest iron

mines here, in addition to

producing copper, gold,

nickel and manganese.

• Liberdade has unpaved

road access from Tucumã

and landing strip for light

aircraft on-site.

• Mineral rights are within

farm land cleared for cattle

grazing, with only

secondary growth forest

cover


Liberdade Copper - Fortuna Target

11

Liberdade Table 1 - Best Intercepts - Primary Chalcopyrite Zone

Drill Hole Target From (m) To (m) Intercept

(m) Copper (%) Gold (ppb) Cu Eq (%)

LBCD - 02 Fortuna 49 246 197 0.65 118 0.72

LBCD - 06 Fortuna 72.6 200.7 128.1 0.69 104 0.75

• Potentially large open pittable Carajás-type IOCG system with a 1200 x 350m surface footprint. • Codelco funding drilling to earn 51% and must deliver a minimum compliant resource of 500,000t of

contained copper to raise that to 75%. • Currently awaiting license renewal for next phase of drilling

Open Pit Potential


• Also located in the Carajás district

close to operating iron and copper

mines.

• Artisanal workings exposed high-

grade copper-gold veins.

• Codelco drill holes include: 53.8m

at 9.59% Cu & 29.05m at 4.56%

Cu.

• Codelco work found small high

grade deposit that is being

developed with a new partner

Tessarema. Lara receives cash and

royalties.

Curionopolis Copper - Brazil


13

• Iron formations extend for over

10km within the property

• Pilot mining license and

permitting in place for small-

scale production

• Final Exploration Report with

Resources and Reserves filed

with the Brazilian Dept of Mines

• Vertical currently working to

secure environmental permits

and Mining License

• Lara gets cash and royalties.

Minimum royalty payments

start in 2015

Vertical Iron - Brazil

TSX-V: LRA

Corina Gold - Peru

• Low sulphidation epithermal

veins targets close to Hochschild

owned mines

• Lara trenched and sampled

mineralization for >2km of strike

on the Promesa vein

• Project optioned to Hochschild for

$4.15m in cash and a royalty


15

• Mineralized footprint 2km by

0.5km. Oxide resource over a

mid-sized porphyry

• Attractive because low altitude,

close to infrastructure and the

coast.

• Purchase by Minsur of a 70%

interest in the nearby Marcona -

Mina Justa deposit for $505 million

establishes valuation target

benchmark

Lara Copper - Peru

Bahia Inglesa Phosphate - Chile

16

• Large historical phosphate resource in

northern Chile, close to port and already

producing on a small scale.

• Lara and partner Kiwanda have an option to

acquire the 6,100 hectare producing Bifox

mine.

• Lara and partner Kiwanda also hold 16,500

hectares of 100%-owned licenses where

drill permits have been secured.

Historic Phosphate Resource


Carbhid and Pelaya Coal - Colombia

17

• Lara and partner Kiwanda own

19.9% of Carbhid SAS, operator

of the Escalones underground

coal mine in Colombia.

• Plus the option to acquire the

Pelaya claim which has the

potential for a large-scale

resource that could be mined

from open-pit

• ASX listing of the coal and

phosphate into Phillips River.

Lara gets 50% of the vend, cash

and royalties on production.


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Lara Price Chart 2006-Present

Pan Brazilian acquisition and $2.5m Financing

Nickel Discovery in Brazil

$5m from sale of Phosphate

Project in Peru

Maxy Peru acquisition

Copper Discoveries in Brazil

$5m Financing

Sale of Non-Core Assets to Raise

Finance 2013-14

Looking for Acquisitions

Again!!


Investment Case for Lara

19

• Business model substantially increases the probability of success, while

reducing the cost of failures

• Treasury sufficient for 2014-15 budget, subject to additions from

payments from JV partners and sale of marketable securities

• Management team with deep roots in South America, multiple discoveries

and significant ownership in the Company

• Focus on larger discoveries of interest to miners where even minority

interest generates order of magnitude returns for shareholders; potential

near term catalyst the Liberdade discovery with Codelco in Brazil

• Also building a portfolio of self-created royalty interests

• Despite substantial growth and maturity of the portfolio, Lara’s price today

is similar to 2006 start and the 2008 crash


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