Lara Exploration Ltd. reported that Capstone has elected to raise its interest in the Planalto Copper Project from 49% to 51% and become the operator, by agreeing to fund exploration work and feasibility studies, and by paying US$400,000 in cash to Lara. Capstone can raise its interest from 51% to 61% by delivering a feasibility study by December 31, 2026. Lara and Capstone have amended the Planalto Option Agreement, extending the timeframe to start the feasibility study, given that further exploration drilling is needed to find the limits of the mineralization and infill drilling for resource estimates.

Under the terms of this amendment, Capstone will deliver a Preliminary Economic Assessment and pay USD 750,000 cash to Lara on or before March 31, 2024. Capstone has agreed to completing a total of 32,000 meters of exploration and infill drilling on the Property by December 31, 2024, with a minimum of 10,000 metres of exploration drilling to be completed by December 31, 2023. Capstone will make a final payment of USD 1,000,000 in cash to Lara by June 30, 2025, and deliver a Feasibility Study by December 31, 2026.