Lara Exploration Ltd.: Hochschild Reports Drilling Results from Lara's Corina Gold Project in Peru

Vancouver, British Columbia--(Newsfile Corp. - January 20, 2021) - Lara Exploration Ltd., (TSXV: LRA) is pleased to report that London-listed miner, Hochschild Mining plc., has included new drill results from Lara's Corina Gold Project in its Q4-2020 Production Report that was released this morning. Lara has requested a copy of the data and will report a full set of results as soon as possible.

Hochschild has the option to purchase the Corina Project from Lara by making staged cash payments totalling US$4,150,000 of which US$650,000 has been paid to date. Hochschild also has the obligation to pay a 2% net smelter return royalty on any production (see Lara's news release of June 23, 2014 for details).

The Corina Gold Project covers part of a belt of Tertiary-age volcanic rocks in southern Peru that also host Ares's Pallancata and Immaculada mining operations and past producer Selene, with Lara's project located approximately 15km north (approximately 25km by road) of the mill at Selene, which currently processes ore from the Pallancata mine.

About Lara

Lara is an exploration company following 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. Lara currently holds a diverse portfolio of prospects, deposits and royalties in Brazil and Peru. 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72438