Lara Signs Agreement to Acquire License Adjacent to Its Planalto Project

Executive Summary

• Lara Exploration Ltd. signed a purchase‑and‑sale agreement to acquire a 345‑hectare exploration license adjacent to its Planalto Copper‑Gold Project in Brazil’s Carajás Mineral Province.
• The deal includes an upfront payment of CAD $375,000 in Lara shares and tiered success fees based on future measured & indicated copper resources, with a minimum $500,000 payment due by the end of 2027.
• Atlantica and its vendor will each receive a 1% net smelter return royalty on any production derived from the newly acquired license.

Key Details

• License: 345 ha adjacent to Planalto Copper‑Gold Project; potential to add to Lara’s Silica Cap resource.
• Upfront Share Payment: CAD $375,000 in Lara shares issued at the 20‑day VWAP preceding issuance date, payable upon TSX Venture Exchange acceptance of the agreement.
• Drilling Commitment: Lara will drill a minimum of 2,000 m on the license and deliver an NI‑43‑101 Technical Report (“TR”) by end‑2027.
• Success Fee Structure:
• By Dec 2027 – US $0.06 per lb Cu contained in Measured & Indicated Resources reported in the TR.
• By Dec 2028 – Same rate for any additional Measured & Indicated Resources included in an updated TR.
• Post‑2028 – US $0.08 per lb Cu for Measured & Indicated Resources in subsequent TRs.
• Payment Terms: Success fees may be paid annually in cash or Lara shares (at Lara’s discretion), capped at US $1.25 M per year; a minimum payment of US $500,000 is required regardless of resource size discovered by end‑2027.
• Royalties: Atlantica and its underlying vendor each entitled to a 1% net smelter return royalty on production from the license.

Notable Quotes

(No direct quotes were provided in the release.)