Building a South American Exploration Business Through the Cycle! 1

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 Management Discussion & Analysis and Financial Statements filed on

www.sedar.com.!

•  Michael Bennell, Lara’s Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy, is a Qualified Person

as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and

approved the written disclosure of the technical information in this presentation regarding the Company’s projects.!

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Introduction!

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

•  South America-based management team with a history 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 derived from joint

ventures, partnerships and the sale of projects.!•  Recent exploration success at Liberdade (Brazil) in partnership with Codelco,

with significant near-surface copper-gold mineralization intercepted in drilling.!•  Two royalty projects, Curionopolis and Vertical nearing production.!•  Exchange ticker symbol: LRA.V!

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TSX Venture Exchange 2001-Present!

•  The last bear market ran from 1997 to about 2002!•  Market peaked in 2007 and looks at or near a bottom again!•  Valuations on exploration and development companies now very attractive!

2011  Commodity  Price  Peak  

2007  Market  Peak  

0

50,000,000

100,000,000

150,000,000

200,000,000

250,000,000

300,000,000

350,000,000

0

500

1000

1500

2000

2500

3000

3500

4000

2001-­‐12-­‐25   2003-­‐05-­‐09   2004-­‐09-­‐20   2006-­‐02-­‐02   2007-­‐06-­‐17   2008-­‐10-­‐29   2010-­‐03-­‐13   2011-­‐07-­‐26   2012-­‐12-­‐07   2014-­‐04-­‐21  

Volu

me!

TSX-V: LRA! MARCH 2015! 4!

Source: Brent Cook – Exploration Insights

Rela=ve  Va

lue  

12    10    8    6    4    2    0  

Concept   Pre-­‐discovery   Discovery   Feasibility   Development   Startup   Deplete  

Speculators    Leave  

Orphan    Period  

Ins=tu=onal  Investment  

~4  to  5  years  1  -­‐2  years  

2-­‐3  years  

1  year  

Sold  to  a  Miner    

Full  Value  

Timelines for Exploration and Development!

•  Project timelines are longer than the market cycles, the Prospect Generator business model allows Lara to remain active through the cycle and stay focused on finding the value-add discoveries that reward shareholders!

TSX-V: LRA! MARCH 2015! 5!

0

200000

400000

600000

800000

1000000

1200000

1400000

0

0.5

1

1.5

2

2.5

2005-05-28 2006-10-10 2008-02-22 2009-07-06 2010-11-18 2012-04-01 2013-08-14

Lara Share Price Chart 2006 to Present!

Pan  Brazilian  acquisi=on  and  $2.5m  Financing  

Nickel  Discovery  in  Brazil  

$5m  from  sale  of  Phosphate  Project  in  Peru  

Maxy  Peru  acquisi=on  

Copper  Discoveries  in  Brazil  

$5m  equity    Financing  

Sale  of  Non-­‐Core  Assets  to  Raise  Finance  2013-­‐14  

Looking  for  Acquisi=ons  

Again  

TSX-V: LRA! MARCH 2015! 6!

Share Capital and Sustainability!

Treasury! Value!

Market Capitalization! ~CAD$12 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!

Share Capital! Number! Percent!

Outstanding! 30,969,691! 94%!

Options! 1,975,000! 6%!

Fully Diluted! 32,944,691! 100%!

Insider Ownership! ~10%!

•  In 2013-14 Lara has substantially cut exploration costs to now focus on M&A!•  Operations are funded by sale of non-core properties and marketable securities!•  Lara has two royalties that may start to generate some income in 2015-16!

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Management and Directors!

Management! Directors!!Miles Thompson (President & CEO)!Lara founder with +30 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)!+7 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 (Independent 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 (Independent Director)!Member of the Institute of Canadian Chartered Accountants and Institute of Chartered Financial Analysts of Ontario. Vice President of Duff & Phelps.!!Adrian Calvert (Independent 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 (Independent Director)!+20 years in the industry, previously First Quantum. Geology graduate Texas Christian University. !!Andre Gauthier (Director)!+30 years in exploration and mining globally, previously for Falconbridge and Cambior.!

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Mineral Property Portfolio!

•  Diverse property portfolio with several emerging discoveries!

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Joint Ventures, Alliances and Royalties!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!

Peru! Goldplata! Condoroma! Copper! Shares! TBD!

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!  !

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Lara’s Plan for 2015!•  After spending 2013-14 restructuring, cutting costs and selling non-core

projects, the goal for 2015 is to generate or acquire new properties!

•  Listing on the ASX of the Lara-Kiwanda phosphate and coal portfolio in Chile and Colombia is due to be completed in Q1 !

•  Drilling planned at the Canindé graphite project in Q1!

•  Tessarema is planning to initiate test mining at the Curionopolis copper project in Q1 and release a resource statement by mid-year!

•  Lara is working with Hochschild to secure drill permits for the Corina gold project in H1, a highly prospective epithermal vein system!

•  Lara and Goldplata negotiating the merger of their Condoroma copper properties with Goldplata’s Murindo property, targeting agreement in Q1!

•  New permits for the Liberdade copper and the Grace gold prospects could see drilling programs by year end!

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Investment Case for Lara!

•  Business model substantially increases the probability of exploration success, while reducing the cost of failures!

•  Treasury sufficient for 2015 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 a minority interest can generate order of magnitude returns for shareholders. Potential catalyst the Liberdade discovery made with Codelco in Brazil!

•  Also building a portfolio of self-created royalty interests, with two in Brazil approaching production!

•  Despite substantial growth and maturity of the portfolio, Lara’s price today is similar to its 2006 start-up and the lows of the 2008 crash!

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Liberdade Copper - Brazil!

•  The Carajás is one of the most prolific mining districts in the world. Vale 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!

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Liberdade Copper - Fortuna Target!

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!

Please refer to ‘Codelco Intercepts 197 Metres At 0.72% Copper Equivalent At Liberdade’, Released: March 1, 2013!

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•  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 from which Lara receives cash and royalties. !

 

Curionopolis Copper - Brazil!

Please refer to ‘Positive Drill Results from The Curionopolis Copper-Gold Project’, Released: December 1, 2011

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•  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 due from 2015!

Vertical Iron - Brazil!

TSX-V: LRA! MARCH 2015! 16!

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!

TSX-V: LRA! MARCH 2015! 17!

Grace Gold - Peru!•  High sulphidation epithermal target adjacent

to Apumayo (Guide del Castillo) mine!

•  Project optioned to Aruntani for $2 m in cash and a royalty!

!

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Condoroma/Murindo!

Murindo, Colombia - Copper oxides in Quartz-Diorite Porphyry (malachite, azurite, chrysocola)

Murindo, Colombia - Quartz Stockwork in Potassic Altered Porphyry

•  LOI with Goldplata to consolidate Condoroma copper-gold prospect in Peru, together with Goldplata’s Murindo copper prospect in Colombia!

•  Plan to work together to create a new copper porphyry exploration and development company ready for the next cycle!

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•  Mineralized footprint 2km by 0.5km. Oxide resource over a mid-sized porphyry!

•  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 established valuation benchmark!

•  Lara ownership currently 45%!

Lara Copper - Peru!

TSX-V: LRA! MARCH 2015! 20!

Bahia Inglesa Phosphate - Chile!

•  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.!

TSX-V: LRA! MARCH 2015! 21!

Carbhid and Pelaya Coal - Colombia!•  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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Contact!

For more information please contact:!!

Christopher MacIntyre!Vice President, Corporate Development!Suite 414, 100 Richmond Street West!Toronto, Ontario, Canada M5H 3K6!Phone: +1 416-703-0010!Fax: +1 416-964-0823!!Or visit us online at:!www.laraexploration.com!

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