Lara Exploration Ltd. reported that since the company's press release of May 23, 2023, drill permits for the 11 drill pads have been received for the Gap Zone (200m wide) between the Homestead and Cupuzeiro copper targets on the Planalto project in northern Brazil. To date six of the holes (for a total meterage of 2,432.80m) have been completed on two east-west orientated drill fences, 100m apart, across this east-west trending gap zone. Chalcopyrite mineralization has been observed in the drill cores over several tens of meters in several of the drill holes and confirms the continuation of the copper mineralization between the previously defined Homestead and Cupuzeiro target zones.

Results for sampling of these holes are expected within 6 to 8 weeks and the results will be used to plan further drilling. At the Cupuzeiro target a further 4 holes (for a total of 1,845.04m) have now been completed to help define the eastern and western limits of the high-grade copper mineralized zone defined by the previous drilling on this target. Chalcopyrite mineralization is now identified across a north-south trending zone from 400m to 500m wide and chalcopyrite mineralization is observed in drill cores down to depths of 300m vertical below the surface.

Complete sample results are expected within 4 to 6 weeks. Drilling will resume on this target once the sample results have been compiled and interpreted to plan further drilling in the open extensions in this target. At the Homestead target the program of holes to test the eastern and southwestern extensions of the Homestead target is now underway with three drill rigs operating on site.

One hole (final depth of 228.05m) has been completed and two others are in progress testing the eastern contacts of the mineralization.