February, 2013 Andre Gauthier President

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 Companys actual results to differ materially from the forward-looking statements, please review the Companys Prospectus, Annual Information Form, and MD&A filed on www.sedar.com. The Qualified Person (QP) for projects in China and Peru is Andre Gauthier. The Qualified Person (QP) for projects in Brazil is Mike Bennell
2

Lara Exploration Prospect Generator

Whats a Prospect Generator our business is about taking geological ideas and performing enough exploration on them to attract outside capital. In so doing, we leverage our investment and retain an interest while other people spend their money. The Business of Discovery even retaining only minority interests or royalties in our projects we remain exposed to the outstanding returns possible when a substantial discovery is made. The Advantages and Disadvantages this low-risk approach to the exploration business can be unpopular during bull markets, but makes the company more sustainable and thus limits the downside in more difficult times. Peer Group our strategy follows that of previously successful exploration companies such as Altius, Almaden, Mirasol, Solitario, Riverside, Azimuth and Virginia, all of which have made substantial discoveries in recent years. De-risking Prospect generator includes the first stage of exploration developing concepts, staking, targets definition and validation.

Laras DNA De-Risking Exploration

People - management has depth (12 geologists), is highly experienced technically, commercially and locally. Insiders are shareholders too. Finance liquid assets (cash and shares) sufficient for 2013-2014 work programs and the company is close to cash-flow from iron ore royalties. Leveraging capital from our partners, avoiding shares dissolution. Paper only 26m shares outstanding, 28m fully diluted. Partnerships exploration paid for by joint ventures with companies from Canada, UK, Australia and South

America.
Commodities diversified portfolio including Au, Ag, Cu, Ni, Fe, Zn, Pb, K, P and C (graphite) exposure. Politics- multiple jurisdictions Brazil, Peru and Colombia Discovery large diverse portfolio gives multiple chances of exploration success and that elusive ten-bagger return from discovery, with limited downside risk.

Corporate Snapshot
Management & Directors
Miles Thompson, Chairman & CEO Andre Gauthier, President

Michael Bennell, Vice President Exploration

Chris MacIntyre, Vice President Corporate David Miles, Chief Financial Office

Lara Exploration (LRA TSX.V) is a publicly traded junior exploration company based in Canada. Focuses on Precious and Base metals exploration and development in Peru, Brazil, Colombia and China. Internationally recognized Management and Exploration Teams. Large and diverse network of contacts throughout China, Europe, North and South America. Can quickly identify new opportunities. Socially and environmentally responsible. 3 alliances: Kiwanda Phosphate, Kiwanda Coal and Antofagasta Copper.
Peru:
15 properties (13 Maxy Gold, 2 Minas Dixon), 4 JV Totaling 128,300 hectares 14 properties, 6 JV Totaling 260,300 hectares 1 property Totaling 6,000 hectares

Kim Casswell, Corporate Secretary

Noel Diaz, Peru General Manager Helio Ikeda, Manager Brazil Independent Directors Michael Winn Byron King Adrian Calvert Chris Jones

Brazil:

Chile:

Projects & Properties Location

Brazil 14 Properties 260,300 has

Peru 15 Properties 128,300 has Chile 1 Property 6,000 has

Share Structure & Price

Share Structure
Issued & Outstanding shares: 30.5 M Stock Option: 2.43 M Fully Diluted: 37.0 M 52 Week High Low: $1.23/$1.44 Stock Exchange: LRA-V Trading Symbol: LRA

Lara Exploration Organization

Mineral Properties, Exploration Stages

Financing

Lara

Partner

Lara & Partner

Quality Gold & Copper prospect generator

World Gold Deposits Lara Properties Gold Mines

10

Quality Gold & Copper prospect generator

World Copper Deposits Lara Properties Copper Mines

11

a Partner of Choice, diversified Metals, Countries and Nationalities

Partner
Socio Joint Venture Aguia Resources

Aguia Resources

Residual Lara % 25% 25% 25%

Project

Sergipe

Inversin en Efectivo Millones USD$

Commodity Potash

Inversin en Exploracin Country Lara Residual Millones USD$ Fase 1 / Fase 2

Brazil

25%

Millones Acciones 10

Payment US$m 0.10

Exploration US$m 1.50

Propiedad Sergipe

Shares m 10.0
K Cu, Au Ni Ni Metal

Years
Pas

Aos 4.0 4.0 4.0

0.1

4.0

JOINT VENTURES

Codelco

Codelco

Liberdade

Copper
Nickel, PGE Tin Graphite 1.5

Brazil
Brazil Brazil Brazil Peru Peru Peru

3.0 2.5 7.0 2.50 6.00 8.00 6.75 5.5

25%
25% 25% 40% 45% 25%+PFS 25%+FS
3.00 1.20 0.5 0.85

3.00

Liberdade

4
Brazil

Avenue Resources

Avanco Resources

Conceicao Brazil

1.50 North Brazil 2.50 Caninde

Tingo Este / 7.00 Lara Cobre Sami Picha 8.00 Chocos 6.75

3 4 5

Avenue Resources Focus Graphite Redzone Resources Antofagasta

North 40%

5.0 3.0 4.0 3.0 6.0 3.0

Focus Graphite Redzone Resources

25%Caninde

0.50 Cu 0.85 Cu, Au

Cu, Ag 3.00 Cu Fosfatos Cu

Lara + Tingo 25% + FS

25%

Este

Copper
1.2 Copper, Silver 1.5

Peru

Network Exploration Ltd. Network Exploration CJL Capital Inc. CJL Resources Kiwanda Group LLC

Picha

3 7
Andes

25% Atenea 25% + 43 - 101 50% Total

Gold

1.50 6.25
14.35

Totals

50.75
Huangnan

Western Mining Group.

China

4.3

45.25

Partner ALLIANCES Antofagasta Kiwanda Kiwanda Totals Partner INTEREST & ROYALTIES Vertical Minerao Horizonte Minerals

Commodity Copper Phosphate Coal Brazil

Countries

Lara Residual % 30% 30% 30%

Payment US$m 3

Exploration US$m/Year 0.6 0.5 0.6

Years 3 3 3

Peru, Chile, Colombia Peru, Colombia

3.00 Project Curionopolis Vila Oito Commodity Iron Nickel Country Brazil Brazil Lara Interest Royalty Shares Cash US$m 0.80

1.7 Royalty 0.75-1.50/t 8.5 Shares m

Avenue Resources
Hochschild CJL Capital Raymondi Cusco Totals

Sao Lourenco
Lampa Chocos Candel 23

Tin
Gold Zinc-Lead Copper

Brazil
Peru Peru Peru

Royalty
Royalty Royalty Royalty

1.00

1.0%
2.0%

3.0

0.45 0.30 2.55

2.0% 2.0%

12

Constant Partners Investment

Investment by Countries (Millions)
0.5 2.7

Brazil Peru China

9.35

Total Possible Cash Payments (Millions)

3.5 3 2.5 2 1.5 1 0.5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016

Total Partners Investment (Millions)

16 14 12 10 8 6

4
2 0 2008 2009 2010 2011 2012 2013 2014 2015 2016

13

Quality and Diversified Partners

Country

Property
Liberdade Copper

Partner
Codelco *

Stage
Exploration drilling

Brazil

Sergipe Potash
Caninde North Brazilian Tin Ready to generate Lara Tingo Este

Aguia
Focus Graphite Avanue Resources Antofagasta Minerals Redzone Res. Redzone Res.

Exploration drilling
Drill ready Grass roots Grass roots Resource Drilling Grass roots

Peru

Chocos
Picha Sami

CJL
Network Antofagasta - Anaconda Kiwanda

Grass roots
Exploration drilling Exploration drilling Grass roots

Andes

Ready to generate

* Miners

14

QAQC Procedures Information Management

General Process
Sampling (Rock, Soils, etc.) Project - Sampling Cards - Access DB File Office
Ensure confidentiality of information

Lab. Assays Results

Office Process
Lab & Sample information

Draft Process
Lab information Digital reports of Assays Excel format

Lab Assays Reports

Digital Assays Access DB & Report (Excel)

Database Manager

2
Maps Digital 1 Information from Access DB to drafting area. 3

Andre Gauthier Noel Diaz

Draft Area

Drafting Area

New map storage rigid file number.

Server

15

Professional Database System

16

Peru - Community Procedures

17

Partners agressive drilling plan

Planned 2012
Picha (Cu) Lara (Cu, Mo) Grace (Au) Sergipe (K) Condoroma (Cu, Au) Coporaque (Cu) Curionpolis (Cu, Au) Curionpolis (Fe) Conceio (Ni) Vila Oito (Ni) So Loureno (Sn)

Planned 2013
Picha (Cu) Lara (Cu, Mo) Grace (Au) Sergipe (K) Condoroma (Cu, Au) Coporaque (Cu) Curionpolis (Cu, Au) Curionpolis (Fe) Corina (Au) Conceio (Ni) Vila Oito (Ni) So Loureno (Sn) Bayovar East (P) Ocucaje (P)
18

5 out of 6 drill programs in 2011 were successful in intercepting signicant mineralization. The 4 programs completed so far in 2012 have all been similarly successful.

19

Brazil Exploration Highlights

Codelco follow-up drilling at Liberdade copper. Curionopolis high-grade copper target, >1% Cu breccias. High-grade tin veins intercepted at So Loureno. Potash JV with Aguia Resources Growing pipeline of iron, copper and graphite prospects. New copper Alliance with Antofagasta

14 projects, 7 funded by JV

20

Canabrava Project VMS

The Canabrava VMS (volcanogenic massive sulphide) Project comprises 28,500 hectares of exploration claims and licenses that covers strike extensions of the Palmeirpolis Deposits, which are a series of zinc, lead, copper and silver sulphide ore bodies discovered by the CPRM (Brazilian Geological Survey) in the 1970's. Lara has been gradually acquiring mineral rights along this trend over the last two years as it sees considerable potential to discover additional mineralization using modern geophysical methods and that the base metal focused exploration work of the 1970's may have under-estimated the gold and silver potential of the district.

The region lies within the Brasiliano Fold belt, a Proterozoic-age mobile belt that extends up through
central Brazil. The Palmeirpolis deposits are hosted by a Mid-Proterozoic greenstone belt of the same name, comprising a meta-volcano-sedimentary sequence of bimodal volcanics (basalt-rhyolite), overlain by cherts, banded iron formations and pelitic and volcanoclastic sediments. Metamorphic grade is amphibolites facies and the sequence is also intruded by granites. Massive sulphide mineralization is stratabound, hosted by the basal volcanics and has been interpreted as volcanic massive sulphide type (VMS) due to the well-developed alteration zones underneath the ore bodies. The ore bodies are highly deformed.

21

Araguaia Project Nickel

The Araguaia Nickel Project comprises 45,000 hectares of 100%-owned exploration licenses near the

important emerging nickel Carajs District, in Par

State, Northern Brazil. Lara holds a significant property position in the Araguaia belt, which has already generated two significant discoveries at Serra da Tapa and Vale dos Sonhos owned by Xstrata.

The target geology is mafic and ultramafic intrusions

that are part of the Araguaa Ophiolite Sequence, host to several large nickel deposits in this region. To date 66 diamond drill holes (47 in 2008) and 96 auger drill holes (mostly in 2008) have been completed on the project, defining significant nickel mineralization on two targets, Vila Oito and Floresta. The Vila Oita deposit is 1km by 1.14Km in size and has been diamond drilled on a minimum 200x200m grid spacing (54 holes). The Floresta deposit is 1.2x0.5km in size defined by soil geochem and auger drilling.
22

So Loureno Project Tin

The So Loureno Tin Project comprises an option to acquire a 100% interest in approximately 3,500 hectares of Mining Licenses in Rondnia State, Northwest Brazil. The Company has completed surface exploration work that outlined a significant body of primary tin mineralization on the adjacent Isaac and Irene targets, with an average grade of 0.61 % tin. An agreement was also reached with the underlying owners of the mining rights to extend the Companys purchase option until 2012. The Isaac target comprises multiple greisen zones ranging up to 500 metres in length and up to 50 metres in thickness, with an average grade of 0.54 % tin. The Irene target includes multiple zones of mineralization, with individual zones of up to 300 metres in length and up to 66 metres in thickness, with an average grade of 0.71 % tin. In outlining zones of mineralization a cut-off grade of 0.14 % tin and a minimum width of 4 metres (2 metres where the grade is over 1 % tin) was applied.

23

Curionpolis Project Copper, Gold

The Companys Curionpolis IOCG Project covers 16,452 hectares and is located in the prolific Carajs District, approximately 10 kilometres south of the Serra Pelada gold project being developed by Colossus Minerals Ltd. The Company is currently conducting exploration programs for iron ore (Vertical JV), copper and gold on the property. The mineralization identified at Curionpolis is IOCG-type (Iron Oxide Copper Gold), typical of the Carajs District. Gold and copper values are accompanied by geochemically anomalous arsenic, silver, bismuth, tungsten, molybdenum and uranium. Geology of the target areas are metamorphosed volcano-sedimentary sequences with wide-spread magnetite and actinolite veining, as well as pervasive actinolite, albite and scapolite alteration that also typical of IOCG systems.

24

Curionpolis Project Iron

The Curionpolis Iron Project is 1,365 hectares in area, covering a ridge of iron formations to the northwest of the town of Curionpolis in the Carajs District, Par State. Mineralization is similar to the iron formations in other parts of the Carajs District that are the main source of high-grade iron ore production for Vale S.A. the Brazilian mining giant. The iron formations have been mapped over a strike length of approximately ten kilometres within Laras property and surface sampling and drilling during the 2010 field season have already confirmed the presence of high iron grades typical of this District. Mapping and surface rock chip sampling on the property indicate that the iron formations extend for over 10 kilometres within the ceded property. To date 17 diamond drillholes have been completed, testing an approximately one kilometre section of iron formations denominated the Serra Morena Target. All the holes have reported significant iron mineralization from x-ray fluorescence analysis with drillhole intervals ranging from 53.81 to 168.4 metres in length returning average iron grades of between 36.41% and 65.51% Fe. The best intercept from hole FD-0011 is 166.5 metres at an average grade of 62.62% iron with low impurities (silica, aluminum and phosphorous).

25

Sergipe Project Potash

The Sergipe Potash Project comprises two separate license blocks, with a total area of 14,114 hectares, which are contiguous with Talons Capela and Panqueca potash prospects and cover the strike extension trend of the known potash deposits in Vales Taquari-Vassouras Mine. A significant amount of exploration data is available on the Project from the oil and gas industry, which includes geological and geophysical data from 11 oil wells. Two of these wells intersected a cumulative 37 and 5 metres of potash mineralization respectively, in ten and two individual potash-bearing horizons, at depths between 1,300 and 1,800 metres. Furthermore, data is available for at least 30 2-D seismic lines over the Project. In November 2008, the Company and Sprott Resource Corp., (Sprott ) agreed to form a strategic alliance (the Alliance), owned 50% each, to acquire phosphate, potash and other resource opportunities. Sprott has contributed starting capital of US$500,000 to the new company, which has been used to acquire and evaluate phosphate and potash exploration properties in Brazil to evaluate acquisition opportunities. During the period the Company undertook field reconnaissance work to complete a preliminary evaluation of the Alliance phosphate and potash properties. Lara is in the process of acquiring the 50% owned by Sprott, and has entered into an Agreement with Talon Metals Corp. (TSX: TLO), whereby Talon has been granted an option to earn 75% interest in the project. To earn the interest, Talon must pay US$500,000 cash, and spend US$4.0 on exploration, both over the next four years. Talon will be the operator of the work programs.

26

Liberdade Project Copper

The Liberdade Copper Project comprises a single exploration license covering 6,969 hectares in rea, located in the Municipality of So Felix do Xingu, Par State, at the western end of the Carajs District.

Geology comprises Proterozoic-age volcano-sedimentary sequences of the Aquiri Group and related calcalkaline intrusives, with evidence of iron-oxide-copper-gold (IOCG) alteration and mineralization seen in small-scale garimpeiro surface workings. Exploration work to date has comprised reconnaissance level mapping and sampling that has identified extensive alteration and anomalous copper values.

In October 2010 the signed an Agreement whereby Codelco do Brasil Minerao Ltda., (Codelco) can earn
up to a 75% interest in the Liberdade property. Under the terms of the Agreement, Codelco may earn an initial 51% interest by investing US$3 million in exploration over a four-year period, with a minimum expenditure of US$400,000 in year one, of which US$300,000 is a work commitment. Codelco may then elect to earn a further 24% interest in the property by sole-funding such additional exploration works as are necessary to define a minimum resource of at least 500,000 tons of copper equivalent, independently reported under National Instrument 43-101 guidelines.

27

28

Peru Exploration Highlights

Drilling substantially expanded footprint of the Lara Cu porphyry. World class epithermal district outlined at Sami. Grace and Corina gold targets drill ready.

Condoroma, Coporaque and Picha copper targets drill ready

15 projects, 7 already covered by partnership agreements Pipeline new Cu-Au discoveries at Sami, still 100%-owned by Lara 4 new properties stacked in 2012, 100%-owned by Lara 2 new properties stacked under Kiwanda Alliance (Lara 50%)
29

Peru: A Leading Mining Country

Copper Gold Zinc Silver Lead Iron Tin Molibdenum

Mining Participation in Exporting

Others 24.1 Agriculture 2.2 Fishing 5.7

Mining Export Structure

Petroleum 8.5
Cobre 41% Otros 0%

Molib. Hierro Estao 4% Plomo 2% 6% 6% Plata 3% Zinc 8% Oro 30%

Mining 59.5

30

Peru: A country of Investment

Marcona Shougang Corporation (China) Refinera Cajamarquilla Votarantim Metais (Brasil) Cerro Verde Freeport Mac Mooran Copper (USA) Lagunas Norte Barrick Gold (USA) Bayovar Compaa Vale Do Rio Doce (Brasil) Colquijirca Buenaventura (Peru) La Arena Rio Alto Mining (Canada) Toromocho Aluminium Corp.of China Las Bambas Xstrata Copper (Suiza)

S TA G E S

Antamina Fundicin y BHP Billiton, Xtrata- Refinera de Ilo Teck-Mitsubishi Grupo Mexico (Canada) (Mexico)

Extensions E X P LO R AT I O N

Cuajone Grupo Mexico (Mexico) Marcobre (Mina Justa) Chariot (Canada)

Toquepala Grupo Mexico (Mexico) Quellaveco Anglo American Quellaveco S.A. (UK)

Invicta Tantahuatay Andean American Newmont, Buenaventura Mining Corp (Canada) (USA, Per) Pucamarca Grupo Brecia (Per) Constancia Hudson Bay Mining (Canada)

Confirmed investment Feasibility studies

Minas Conga Antapaccay Newmont, Xstrata Tintaya S.A. Buenaventura (Peru) (Suiza) San Luis Relian Ventures S.A.C. (Canada)

Magistral Milpo (Canada) Pampa de Pongo Nanjinzhao Group Co. (China) Pukaqaqa Grupo Milpo (Per)

La Granja Rio Tinto (Uk-Australia) Cerro Ccopane-Huillque Cuervo Resources Inc Canada) Los Chancas Grupo Mexico (Mexico)

Caariaco Candente Resources (Canada) Haquira Antares Minerals (Canada) Quechua Mitsui Mining (Japn)

Hilarin Grupo Milpo (Per) Chucapaca Canteras del Hallazgo (Per) Galeno Jiangxi Copper (China)

Michiquillay Anglo American Michiquillay S.A.(UK) Cercana Inmaculada Junefield Group S.A. Hochschild (China) Mining Plc (USA) Crespo Cia. Minera Area (Per) Shahuindo Sulliden Explor. (Canada)

Ro Blanco Zijin Mining Group Co. Ltd (China)

Exploration

Chaquicocha Los Calatos Newmont, Buenaventura Metminco Ltd (USA, Per) (Australia)

Ta Mara Hierro Apurimac Salmueras de Sechura Strike Resources Peru S.A.C. Grupo Mexico Americas Potash Peru S.A.C. (Mexico) (Australia) (Canada)

31

Peru Mineral Belts

Tertiary Volcanics Mesozoic Sediments Paleozoic Sediments

32

LARA Peru Properties, Operations & Mines

Ecuador

Colombia

Ecuador

Colombia

Ecuador

Colombia

! (

( ! ( ! ( ! ! ! ( ( ( ! (! ! ( ( ! !! (( (! ( ! ( ( ! (( ! !! ( ( ! ! ( ! ( ! (! ! ( ( ! ! ( ( (! (! ( ! (! ! ( ! ( !! ( ( ! ( ! ! ( (! ! ( ( ! ( ! ! ( ( ! ( ! ! ( ( ! !( ( ( ! (( ! ( ! ! Brazil ( ! ! ( ! ( ! ( ! ( ! ( ! ( (! ( ! ( ! (! ! ( ! (! (! ! ( ! ( ! ( (! ! ( ( ! ( ! ! ( ! ( ( ! ( ! (! ! ( ! ( (! ! (! (! ( ( (! (! ! ( ! ! (! ! ( ( ( ! ( ! (! ! (( ! ! ( ( (! ! ( ! ( ! ! (! ( ( (! ! ( ! (! ! ( ! ( ( ! ( ! ! ( ! (! ! ( ! ( ! (! ! ( ! ( ( ! (! ( ( ! ( ! ( ! ((! ! ( ! ! (! ! (! ( ( ! (! ! ( ( ! (! (! ! (! ! ( ! ( ! ! ( ( ( ! ( ! ( ( ( ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ( ! (! ! (! ! (! (! ( ! (! ( ! ( ! ! ( ! ( ! ! (! ! ( ( ! (! (! ! ( ( ( ! ( ( ! ( ! ( ! ( ! ( ( ! ( ! ( ! ( ! ( ! ( ! (! ! ( ! ( ! ( ! ( ! (! ( ! ( ! ( ! (! ! (! ( ! ( ! ( ( ( ! ( ! ( ! (! ! ( ! (! ! (! ( ! (! ! ( ( ! ( ! (( (! ! ( ! ( ! (! ( (! ( ( ! ( ! (! (! ! (! ( ! ( ! ( ! (! ! ( ! (! ( ! ! ( ( ! ( Cu occurrences ( ! ( ! ! ( ( ! ( ! ( ! (! ! ( ! ( ! (! ( Lara properties ( ! ( ! (! ! ( ( ! (! ! (! ! ( ! (! ( ( (! ! ( ! ((! ! ( ! ( ! ( ( ! ( ! ! (! (! ( (! ! ( (! (! ! ( ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ( ! ( ! ( ! ( ! ( ! ( ! ( ! (! ! ( ! ( ! ( ! ( ! ( ( ! ( ! ( ! (! (! ! (! ! ( ! ( ! ( ( ! ( ( ! ( ! ( ! ( ! (! ! ( ! ( ! ( ! ( ! (! ! (! (! ! ( ! ( ! ( ( (! ! ( ! (! ( ( ! ( ! (! ! ( ! ( ! ( ! ( ! (( ! (! ( ( ! (! ! ( ! (! ! ( ! ( ! ( ! ( ( ! ( (! ( ! (! ( ! ( ! (! ! (! ( ! (! ! ( ! ( ! (! ( ( ! (! ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! (( ! (! (! ! (! ! (! ! (! (! ! (! ( ! ( ( ( ( ! ( ! (! ( ! ( ( ! ( ! (( ! (! ! (! ! (! ( ( ( (! ! ( ! ( ! ( ! ( ! (! ! ( ( ! ( ! (! ! (! (! ! ( ! ( ! ( ! ( ! ( ! ( (! ! (! (! ( ! ( ! ( ! ( ! ( ! (! (! ( ! ( ( ! ( (! ! ( ! ( ! (! ! ( ! ! (! ( ! ( (! ( ( ( ! (! ! ( !

Brazil

Brazil

Au occurrences Lara properties

(! ! (! ! (! ( ( ( ! ! (! (! ( ( ! (! ! ( ( ! (! ! ( ! ( ( ! ! ( (! (! ( ! ( ! ( ! ( ! ( ! ( ! ( (! ( ! (! ! ( ! (! ! (! (! ! ( ! (! (! ( ! (! ( ! ! ( ( ( ( ! ( ! ( ! ( ! ( ! ( ! ! ( ! ! ( ( ( ( ! ! ( ( ! ! (! ! ( ! ( ! ( ! ( (! ! (! ( ( ! (! ! (! ! ( ! (! ( ! ( ( ! ( ! ( ! ( (! ! (! ( ! ( ( ! ( !

Polymetallic occurrences Lara properties

( ! !! ( ( ! ! ( ( ! (! ! ( (! ! (! ! (! (! (! ( ! ( ! (! ( (! ( ! ( ! ( ! (! ! ( ! (! ( ( ! ( ( ! ( ! ((! ! ( ( ! ( ( ! ! (! (! ( ! ! (! ( ! ( ! (! (! ( (! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! ( ! (! ! ( ! ( ! ( ! ( ( (! ! ( ! ( ! (( ! ( ! ( (! ! (! (! ( (! ! ( ! ! ( ! (! ! (! ( (! ! ( ( ! ( (! !

Bolivia

Chile
0 250 500 Km

Bolivia

Chile

Bolivia

Chile

33

Lara Peru J/V Properties

34

Geology Copper Belts and Trends

35

Peru South: Structures, Mines

36

Peru South: Structures, Mines & LARA Properties

37

Lara Properties, Copper Porphyry - Volcanic Belt

38

Lara Properties, Porphyry Au-Cu Model

Gold Copper Polymetallic

39

Lara Properties Location

40

Lara Project Cu, Mo (J/V Lara Redzone Res.)

41

Lara Project, Location Map

1,800 hectares,

property is located
about 40 km east of the Pan American Highway. 400 km southeast from Lima, in Peru. The claims are 100% owned by Minas Dixon S.A., a wholly owned Peruvian subsidiary of

LARA PROPERTIES

Lara Exploration Ltd.

42

Lara Project, Regional Map Geology review

The report detailed the Lara property, including an inferred mineral resource estimate of 18.6 million tonnes grading 0.53%

copper using a 0.2% copper cut-off. Within this

inventory are higher-grade blocks estimated at 6.5

million

tonnes

grading

0.91% copper using a 0.5% cut-off tonnes and 4.8 million 1.04%

grading

copper using a 0.6% copper cut off. The resource

remains open to the east and to the west.

43

Lara Project, Highlights

A highly altered intrusive body lies beneath what appears to be the leached cap of a porphyry copper deposit situated on the Lara 2A and 4 mineral claims, measuring over 1 km north-south by 1.5 km east-west. An induced polarization (IP) survey conducted in 1997 yielded very encouraging results, extending the target area eastward to include a system named Mina de Socos. The deposit is a Chalcocite blanket with an inferred resource of 18.6Mt@0.53% Cu with a higher- grade core. The property is shallow, and agreeable to open pit mining with a SX-EW recovery. The expanded target area covers about 6 km2. Twenty-five drill holes totaling 2,876 meters have been drilled in three programs since May 1997 comprising 2,742 meters of reverse circulation and 134 meters of diamond drilling. Eleven DDHs totaling 1997.80 meters were completed from Nov. 2010 to Jan 2011. Assays results of 4 short holes in the central part reported 3.60 to 35.00 of Supergene enriched mineralization with 2774 to 8117 ppm Cu and from 20 to 88.7@ppm Mo. DDH 35 to the East reported 230.30 meters with 0.55% Cu and 373 ppm Mo of this, 45.50 meters Supergene with 0.64% Cu and 145 ppm Mo, 184.80 meters were Hypogene with 0.53% Cu and 429 ppm Mo.
44

Lara Project, Oxides Enrichement Hypogene Zones

45

Lara Project, Geological Section - North 8411350

46

Lara Project, 3D Deposit: Drill Model

47

Lara Project, 3D Deposit: Drill Model, Vertical Section

48

Lara Project, Vertical Section, DDH 38 To DDH 35, Cu ppm

49

Lara Project, Vertical Section, DDH 38 To DDH 35, Mo ppm

50

Lara Project, GEOPHYSICS, MAG

51

Lara Project, Geophysics, Chargeability 100m

52

Lara Project Drillings average

53

Lara Project, Lithology & Drilling

54

Lara project, Geophysics 100m Chargeability

55

Lara Project, GEOPHYSICS, Line Section 8411050 N

56

Lara Project, GEOPHYSICS, Line Section 8411350 N

57

Lara Project, GEOPHYSICS, Line Section 8411650 N

58

Picha Property (J/V Lara Network Exploration)

59

Picha, General Overview

General Moquegua department , 6,000 hectares. Tertiary volcanic sediments. overlain by lacustrine

Cu stockwork, hydrothermal breccia, veins and conceptual Cu-Pb, Zn-Ag Manto targets. Soils and grass are covering most part of the property. Mineralogy: Malachite, chrysocolla, azurite minor galena, sphalerite, Fe-Mn-Oxides. Soils and grass are covering most part of the property. Exploration works: 156 chip/rock samples (or 231 chip/rock samples, ?) and 12 soil and 13 stream. Exploration potential large epigenetic, polymetallic (Cu-Ag-Pb-Zn) bulk tonnage deposit. Additional 100 hectares staked

Six zones, located in the northern part of the property were identified; Cobremani, Maricate, Fundicion, Timillo, Huancune and Cumbre Coya zones Mineralization; Cu ore grade values at Cobremani and Maricate (1.5Km N-S by 1.0Km E-W) exhibing breccia pipe or hydrothermal breccia; Fe-Ox stockwork and Cu-Ox and veinlets. This zone needs IP/MAG geophysics survey. Cu-Pb-Zn stratabound mineralized manto at Cumbre Coya structurally controlled, have not been evaluated. Erratic Mineralization.

60

Picha, Results

Cobremani Maricate sector Cobremani, 5 samples 150 x 150m old mine, Hydrothermal breccia and stockwork. Ag (1), 48.8g/t Cu (3), 0.6 up 3.24% Pb (2), 219 589 ppm Zn (3), 107 up to 199 ppm Maricate, 3 samples Ag (2), 5 33.5g/t Cu (3), 0.3 up 1.89% Pb (3), 142 up 251 ppm Zn (3), 94 165 ppm Fundicion, 6 samples Cu-Ox and Fe-Ox in thin short veins Ag (1), 46.6 g/t Cu (1), 1,140 ppm Pb (1), 2.43% Zn (1), 317 ppm U (1), 21.26 ppm

Huancune Quartz veinlets, Cu-Ox, Fe-Ox Timillo Quartz veinlets, Cu-Ox, galena, sphalerite, tetrahedrite (?) Cumbre Coya Ventilla Sector Cumbre Coya, 15 samples. 40m long, 7m wide stratabound mineralised manto outcrop. Ag (4), 2.5 up 127 g/t. Cu (3), 2080 up 6510 ppm Pb (4), 1047 ppm up 26.76% Zn (4), 858 ppm up 1.08% U (3), 10.33 up 26.3 ppm Ventilla, 6 samples Thin veinlets showing quartz-galena, Fe-Ox (Jarosite-Goethite) Ag (3), 4.8 10.2 g/t Cu (1), 0.15% Pb (4), 0.9 up 22.97% Zn (6), 220 up 375 ppm

61

Picha, Regional Map

The Picha property is located in Southern Peru, in the NW part of the Pichacane quadrangle (33-v), near to the Jesus Maria settlement in the San Antonio de Esquilache district, Sanchez Cerro province and Moquegua department.

PICHA

The access from Lima is by commercial flight to Juliaca city with stop-over in Arequipa (about 2 hours). Then, Juliaca to Puno, through a paved road of 44 km (50 min) and from Puno to Jesus Maria in a gravelled road with 89 km (3.5 hours). Access from Arequipa is via a paved road to Juliaca and Puno and then by graveled road to Jesus Maria.

62

Picha project close to new discoveries

63

Picha, Cu PPM Geochemistry

A1

Outcrop of clay sands of Maure group. Jancojahuira canyon, Looking to the NE

A1

7 Zones identified

64

Picha, A A and B B Section

Stratified Volcano Hydrothermal Breccia

Cobremani, Geological Model

Argilic Alteration Faults & Fracturing (Silicified bx)

Faults & Fracturing (Filled of SiO2)

Pre-Volcanic rocks

Sericitic alteration

Potasic alteration Intrusive

65

Picha, Geophisycs Resistivity 100

66

Picha, Mineralization at Cobremani

Oxidized, sulfided copper mineralization. Brecciated, stockwork and disseminated

67

Condoroma Property Cu, Au (J/V Lara GBU)

68

Condoroma-Picha Geological Section Model

69

Condoroma, Summary

General Cuzco department 9,817 hectares. Same metallogenic belt Tintaya copper porphyry - skarn mine. Geology and Exploration Works Tertiary volcanic rocks; Former small-scale producer, Condoroma Pb-ZnAg mine, 1970s. Manto-style disseminated Cu mineralization, structurally controlled Possible conceptual porphyry copper mineralization and High Sulfidation Precious Metals mineralization. Total 1068 samples collected to be Au 50g and ICP analyzed.

PIMA analysis : 76 samples. Microscopic studies : 8 samples. MAG : 24 lines @ 60.955 Km. IP : 13 lines @ 34.2 Km. Digital Ortophotos : 10,000 Has. Trenching : 90 m. NI, 43_101 was completed on Condoroma along with Chocos properties. It was carried out by Paul Dunbar of Watts, Griffis and McOuat. Five indentified targets: Oro y Paloma (NW_SE), Oro y Paloma east, Blanquilla south, Blanquilla west and Cerro Crucero. Good relationships maintained with local communities people and authorities. Drilling program permits approved by the community but needs the proceedings under the mining minister for the approval.

70

Condoroma, Results
At Oro y Paloma (NW_SE) 1,700m x 800m Cu (Au_Ag) mineralization in veinlets and disseminations, as well as within the matrix of hydrothermal

breccias hosted in felsic dome.

Chalcopyrite, partially replaced by Chalcocite, Bornite, Covellite, Goethite, Jarosite and Erythrite. From 469 geochem samples, 13 returned greater than 1% Cu and up 6.94%; 3 samples returned > 1g/t Au and up to 3.17 g/t Au and up to 398 g/t Ag. MAG/IP Geophysics Survey defines 4 moderate chargeability anomalies. IP1 covers the Oro y Paloma (NW_SE) target. Anomalous values of Barium and Cobalt are evident.

71

Condoroma, Property location

72

Condoroma, Alteration

73

Condoroma, Rocks Cu PPM - Iso Contours

74

Condoroma, Blanquilla and Oro y Paloma Sector

75

Condoroma, Cu PPM

76

Condoroma, Geology details

77

Condoroma, Oro y Paloma Target

Geophysics: Resistivity (Depth 350m) Geochemistry: Cu ppm

78

Condoroma, Oro y Paloma Chargeability

Geophysics: Chargeability (Depth 350m) Geochemistry: Cu ppm

79

Condoroma, Oro y Paloma, Cu PPM

80

Condoroma, Section 1-1 Model

LEGEND
STRUCTURE Major Lineaments Minor Lineaments SECTIONS OroyPaloma Sections Condoroma Sections LITHOLOGY Q-al_Alluvial Deposits Q-m_Morrenic Deposits TMa_Maure Group TPa_Palca Group TSi_Sillapaca Group TTa_Tacaza Group Other properties Maxy Gold property Maxy Gold occur.

Section Location

1:15,000
GEOCHEMISTRY Cu ppm 10001 - 100000 1001 - 10000 501 - 1000 101 - 500 61 - 100 31 - 60 5 - 30 Co ppm 1001 - 10000 501 - 1000 101 - 500 51 - 100 31 - 50 11 - 30 2 - 10 Au ppm 1.001 - 10 0.501 - 1 0.101 - 0.5 0.051 - 0.1 0.011 - 0.05 0.006 - 0.01 0.005 Ag ppm 10.1 - 50 5.1 - 10 0.1 - 5

81

Condoroma, Oro y Paloma, Looking SW

Oro y Paloma NW
Oro y Paloma SE

800 m 1200 m

Note whole area of Oro y Paloma outlined in blue. Also note the Oro y Paloma SE intrusive dome and the Oro y Paloma NW dome.

82

Condoroma, Oro y Paloma, looking SE

Oro y Paloma SE

200m

83

Condoroma, Rocks Samples

cm
0 5 10

Fine quartz veinlets associated to chalcopyrite partially replaced by chalcocite and limonites. Also fine disseminated sulfides and limonites. Rock is a strongly argillized and kaolinized rhyolite tuff.

Thick veinlets and blebs of chalcopyrite partially replaced by chalcocite, bornite and green copper oxides hosted in strongly argillized and silicified rhyolite tuff of the Oro Paloma dome.

Oxidized & leached rock. Oxides and sulfides.

Thin and thick chalcopyrite veinlets replaced by chalcocite, bornite and green Cu oxides. Rock is a rhyolitic tuff strongly argillized and silicified. Oro y Paloma SE area.

84

Condoroma, Rock Sample

Veinlets and disseminated oxydized mineralization

85

Coporaque Property Au (J/V Lara GBU)

86

Coporaque, General Overview

Cuzco department, totaling 7,949 hectares. 28Km NW from Cu-Au Skarn-porphyry Tintaya district. Lower Cretaceous clastics rocks, upper Cretaceous intrussions and, tertiary volcanics. Alteration:
A) Silicification and waek limonite B) Fe-Ox halous associated to small vein-structures C) Pervasive phyllic alteration associated to porphyry Cu-Mo systems

Mineralization:
A) Short vein-type structures showing anomalous values in Au, Cu, Pb and Zn. Low potential. B) Vein-Type structures showing anomalous values in Au, As, Cu, Fe and Mn in 700m x 400m. Target of second order. C) Porphyry Cu-Mo (Au) mineralization type, wich outcrops over 3Km long 6-50m wide, associated to Silica-Ox Stockwork.

Anomalous values in Au, Cu, Bi, As, Fe, Mn, Mo, Pb and Zn.

87

Coporaque, Regional lithology

88

Coporaque, Local geology

89

Coporaque, Geochemistry Cu PPM

90

ALTA RESOURCES

Atenea Property JV Lara / Alta Res.

91

ALTA RESOURCES

Atenea, General overview

The property consists of three concessions totaling 3,000 hectares located in Coporaque and Livitaca districts of Espinar and Chumbivilcas provinces,

Cusco department, along of the

Huaylla-Apacheta Cordillera of the southern Peru, at 16km southeast from HudBay Minerals Constancia Cu-Porphyry deposit (400Mt@ 0.43% Cu, 0.011% Mo) and other targets. The property is reached driven from Arequipa city through 378 km in 4x4 wheel

drive.

92

ALTA RESOURCES

Atenea, Lithology

93

ALTA RESOURCES

Atenea, Mineralization and Tectonic

94

ALTA RESOURCES

Atenea, Photos

White granular silice zone, inferior edge brecciated and oxidized

Detail of the granular silice brecciated and oxidized

95

Sami Property

96

Sami, General Overview

General

Ayacucho dept., Sami 47,000 Has., previously Barrick drilled in the surrounding.
Tertiary volcanic rocks belt; High sulphidation gold silver and possible low sulphidation targets. Copper Vein structures probable related to porphyry type mineralization at depth.

Previous Exploration Works by Minera del Suroeste and Minera Peoles Sami, 1:5,000 geological mapping and litho geochemical sampling. Sami, IP ground geophysical surveying; not in possession of the IP data.

97

Sami, Previous Results

Results 647 samples on Sami were collected by Minera del Suroeste grades of 0.2 to 8.89 g/t Au and 1.6 to 28.8 g/t Ag were obtained. First pass was done on the property in approx. 40 Km by 60 Km with Andean orientation. Cluster of Silica-Alunite-Kaolinite altered areas. Two regional fault lineaments, striking NW-SE, and subsidiaries NNE, E-W and N-S systems, favorable ground for mineralization. Block faulting due to structures intersections generate eroded and preserved mineralized blocks. Relevant presence of domes. Probable precious metals high sulfidation and buried porphyry-type mineralization. East sector of the property shows more alteredmineralized outcrops, some of them previously drilled.

Alunite-Dickite-Kaolinite-Prophyry_Diaspore assemblage and punctual silicification. Goethite_Hematite (after pyrite) filling breccia structures with massive and sometimes veggie silica. Also opaline. Best assays from MAXYs sampling Sami Este: 121 ppb Au, 211 ppm Cu, 298 ppm Mo, 4373 Ba. Loclocsa: 163 ppb Au, 805 ppm Cu, 40 ppm Mo, 488 ppm Pb, 472 ppm Zu, 2086 ppm Ba Lerjona South: 147 ppb Au, 56 ppm Cu, 3 ppm Mo, 837 ppm Ba. 17 anomalous areas have been outlined: aate (Probable porphyry_style); Sami Este, Loclocsa, Yanasora (High sulfidation) and Pitusaja. Others: CcelloCruz, Lerjona, Lerjona South, uos, Pirca, Sami Oeste, Sami Norte and Atochujana.

98

Sami, Exploration Works done

Intensive rock geochemical sampling on Sami property in 3 campaigns . 259 rock chips, 23 duplicates and 9 stream sediments. Anomalous areas: Pitusaja Sami Norte aate Titiminas uos Norte Pirca Yanasora Sur Sami Oeste

Pitusaja target: Newly discovered area of 300 x 300 m possible lateral extension covered by quaternary material. Tuffs strongly silicified with dissemination of fine pyrite and also in vein lets. It is highly mineralized Epithermal system with Au-Ag high sulfidation that reported: Au: 22 samples from 93 up to 1450 ppb. Ag: 18 samples from 1 up to 25.4 ppm. Hg: 35 samples from 1.1 up to 152 ppm. As: 30 samples from 293 up to 2298 ppm. Sb: 28 samples from 101 up to 3541 ppm. Anomalous in Bi, Ba, Mo and Pb.

99

Sami, Location at Volcanic Belt

Sami location Tertiary Volcanic Belt Significant deposits of gold hosted un High Sulphidation Systems

100

Sami, Regional Map

101

Sami, Geological Section

102

Sami, Aster Alteration

103

Sami Au PPB & Ag PPM Geochemical Iso-Values

104

Sami, Pitusaja Target, Au ppb

105

Sami, Loclocsa Target Previous Drilling Peoles

BDL 01 -60 190.50 m.

Au g/t

BDL-03 137.1 m BDL-04 176.2 m

00.3 0.05 0.05 0.07 0.07 0.10

ALTERATION
Silicification

BDL-01 190.5 m

Advanced Argilic
Argilic (Kaolinite Diquite)

BDL-02 170.9 m

Illite Esmectite
BDL 04 -50 176.20 m.

BDL 03 -60 137.10 m.

106

Comparison with: Anabi, Yanacocha and La Colosa

107

Sami, Pitusaja Target, Panoramic view

45379: 0.60 g/t Au; 19.9 ppm Ag. 44394: 1.45 g/t Au; 16.7 ppm Ag. 44393: 0.54 g/t Au; 25.4 ppm Ag. 45375: 0.46 g/t Au; 0.3 ppm Ag.

Agglutinate Argilization Silicification

Q-col

Dome (?) Q-col Q-col

Q-col

50m.

NE to SW view, Pitusaja anomaly, bordered by Quaternary (Q-col) covertures, to the right one isolated outcrop which apparently belongs to the main anomaly. Pitusaja, for a total of 28 samples, the weighted average reports 0.32 g/t of Au and 6.24 g7t of Ag. Agglutinate

Argilization

45375: 0.46 g/t Au 45376: 0.23 g/t Au 45377: 0.26 g/t Au

Pitusaja Anomally

Q-col

?Q-col
Q-col

?
50m.

West to East view of Pitusaja anomaly, samples from 45375 to 45377 are shown and apparently correspond to the main anomaly. 45375 (Au 463ppb); 45376 (Au 228ppb); 45377 (Au 256ppb)

108

Sami, Pitusaja Target

0.4 g/t Au 1.4 g/t Au 0.2 g/t Au 0.2 g/t Au 0.2 g/t Au 0.2 g/t Au 0.2 g/t Au 0.3 g/t Au

Q-col Q-col Q-col

PITUSAJA ANOMALY, looking to the North-East; showing the widest part (40 m), the weighted average of this section reports 0.21 g/t Au and 5.44 g/t Ag.

?
Q-col Q-al

Q-al

Pitusaja River Q-al

PITUSAJA ANOMALY, sample44394 of 10 m width, hydrothermal breccia: siliceous fragments (< 1 cm), in gray matrix with plenty disseminated piryte, reports: 1.45 ppm Au, 16.7 ppm Ag, 50 ppm Hg, 399 ppm As, 170 ppm Bi, 240 ppm Sb and 26 ppm Mo.

109

Sami, Panoramic View

View 140 SE (Sami 24) View 250 SW (Sami 21,22)

View 260 SW (Sami 23,24)

View 310 NW (Sami 28,29)

110

Sami, Breccia and Silicification

Hydrothermal Breccia, strong silicification

Sami Este: Area looking east from base

111

Sami, Pitusaja Target

Mineralization Alteration details

Very strong silicification
Hydrothermal Breccia

Hydrothermal Breccia

112

Isy Target

113

Isy Zone 1

Look to SW

Andesite

Andesite and brecciated tuffs

Hydrothermal breccia

114

Isy samples

Tectonic hydrothermal breccia, FeOx matrix, granulated white silica Subangular clasts of gay silica, silicified andesite
115

Isy samples

Abundant limonite and limonite Boxwork with filling fractures and cavities

116

Examples: Puren Discovery Facts

Puren is a blind deposit, covered by colluviums/soils and steam-heated altered volcanic. Property optioned in 1995 by Placer Dome from Codelco. Several geophysically defined targets were drilled (19 holes) without significant success; option was dropped. MDO negotiated a deal with Codelco in 2002 (US$1.75M to earn 65%). Two targets were defined by geological mapping: the southern target failed to produce economic mineralization, the northern target delivered a M&I resource of 1.53 Moz Aueq from 17 Mt of ore at 2.8 g/t Aueq. Puren JV begins Phase 1 pre-stripping later in 2005, Puren Phase I will extend La Coipa mine life by >2 yr. Current reserve (Puren Phase 1 pit) is ~500,000oz Aueq. Estimated mineral reserves and mineral resources as at December 31. Full details and important related information are contained in Placer Domes press release dated February 26, 2004 and February 23, 2005 and available on our website at www.placerdome.com

117

Sami, Geological Model

Sami

118

Sami, Alterations & Mineralization Model

119

Comparison with similar deposits - View of Puren

120

Crofoot Lewis Hot Spring Gold Silver Deposit

Steam Heated Zone

121

Grace Property

122

Grace, Location
Ayacucho department,

totaling 4800 hectares. Hydrothermal breccias

outcropping in E_W and N5OE directions made up by granular silica matrix cementing angular tuff

and alunite in cavities as

alteration.

123

Grace, Geochemical Au PPB

124

Grace - Photos
45440/45441/45442/45443 45445/45446/45447/45448/45449

Zone 2 view, N-S anomaly by Au-Hg-Sb/As, bx: fragments and silica matrix, abundant granular silica (bx phreatomagmatic?) Abundant hematite; samples 45440 to 45443 reports values of Au 238 y 391 ppb, in a sampling, transversal line to the photo; samples 45445 to 45449 in other sampling line reports: 34 to 64 ppb of Au. 45529/45530/45531 45534
Bx: silicon fragments in siliceous sandstone matrix, abundant jarosite powder.

Allunite Quartz alteration

Zone 3 view, N-S anomaly by Ag-As-Sb-Pb-Bi, brown at the right associated to fault N 10 E, bx with abundant presence of hematite and jarosite powder, 45529 to 45531 samples reports values of Ag 4.5 to 13.4 ppm, sample 45534 reports 18.8 ppm.

125

Corina Property J/V Lara Consorcio Minero Horizonte

126

Corina, General Overview

Low Sulphidation Mineralization

Apurimac dept., 13,369 hectares. 4.5 Km long Low Sulfidation Gold structure hosted in Tertiary and domes rocks. Previous 90 samples returned up to 6.67 g/t Au. Due to isolated location, no old or artisan working have been detected. The main mineralized structure shares the same structural corridor NE_SW which controls the goldsilver deposits of Selene, Explorador and Pallacanta mines, also the Cuello Cuello prospect. A fine work must be carried out with the local community to get the permit for the exploration workings Possibility to find gold mineralization within Mesozoic quartzites. Currently optioned to Consorcio Minero Horizonte.

127

Corina, Lithology & Promesa Vein

128

Corina, Promesa Fault

Ryolitic - Dome Vein - Structure

Quartzites -Yura Group

Inferred fault

Zone looking west, note E-W faulting add the quartzite to the south of the ryolitic dome.

129

Corina, Promesa Vein

Hyaline silice

Light-brown silice
Gray-black silice

Hyaline Light-brown silice

Gray silice structure

Promesa vein with banded silica texture (Hyaline Light-brown silice). At the borders coloform silica, average width 80cm. Tipical Low Sulfidation Vein

Gray silice structure striking E-W. Average width 80cm. 6 mt. In length.

130

Corina, Promesa Vein

RUNTUCOCHA Hill

Maxy Gold Claims

DOME
0 1 2 4 Km

PROMESA VEIN
Satellite image showing the Maxy Gold Corina claims location at the morphologic context.

131

Corina, Panoramic View

1.1 Km
Main vein trace

Vein 1

Silica veinlet zone, high grades Outcrop100m x 15m altered tuff rhyodacite, Anomaly Au,Ag,

Pinch & Swell N65E/50S. Anomaly Au, Ag

RS 70201: MaxyGold 6.7gptAu, Horizon1gpt Au@1.5m

13 2

3 Km
132

Corina, Vein trace

Vein Trace

Sample 70201, resampling Zone of Maxy Gold in a width of 0.20m reported values of 6.7 gr/t Au, returned a law of 0.98 gr/t Au in a width of 1.50 m; brecciated zone of opaline gray silice.

133

Corina, Vein view

West side of the Corina vein (sigmoide lace), note a fault follows N65E/50SE. Samples 76999 and 77000.

134

Corina, Sample

Vein at the west side of Corina (Pinch & Swell); only Au and Ag anomalous values were obtained. Note the opaline gray silice due to sulphides presence.

135

Corina, Lithology formation

Quartzites brecciated, weakly mineralized

Altered volcanics and weakly mineralized Quartzites folded

136

Corina, East view

Corina East: Brecciated quartzites, near of the contact zone with the volcanics. 70204 sample was taken reporting values of 249 ppm of barium. Possible extension of the Promesa vein to the east.

137

Corina, Geochemistry - Au PPB

138

Corina Geochemical - Au PPB & Ag PPM

900 m with erratic values of Au until 6.7 g/t in 1.9 m anomalies of Hg and Sb. Silica opaline banded

Probable high zone of the system, high anomalous values of Sb (>1%) and Hg reachs 8.4 ppm Silica vein, hialine with sulphures High laws of Au until 31 g/t, veins of white silica with "dog tooth" in porous volcanics zone with 2 values of Hg in the higher zones

139

Chocos Property Cu, Au

140

Chocos, Summary

General Arequipa Department, 34,448.15 hectares. Tertiary mafic volcanics rocks and lacustrine limestones intruded by andesitic domes. Explore 5,000 hect / 34,400 hct Exploration works Multiple Zn-Pb-Ag-Cu vein systems. Related to radial structures. Miocene Age porphyritic andesitic dome. 8 Zinc-Lead-Silver-Copper vein systems. Trenching NE in area 2Km by 300-800m. Geochemistry: 1,606 samples. Trenching: 2,198.3m. Microscopic studies: 13 samples. Digital Aerophoto: 22,600 Ha. (Includes south sector)

Assessment of the North Sector (14% of the property) 8 Polymetallic Zn_Pb_Ag_Cu_Cd veins in an area of 2Km by 300-800m. Dimensions: 200-800m long; 0.5-2.5m widths Strike N20E, N-S; dips: 5580 NW and SE

141

Chocos, Results

Zone A, 6 veins 1.2 Kmx0.6Km, 400m SE of Cerro Chocos Brecciated veins containing mainly dissemintaed galena, sphalerite, cerusite, anglesite, Fe-Ox, sporadic Cu-Ox in fractures. Zn: 1-5%, exceptional highs 7-13% Pb: 1-7%, exceptional highs 9-17% Ag: 20-66 g/t Cu: 300-4090 ppm, exceptional highs 1.2-4.8% Cd: 30-1858 ppm Zone B, 600m x 500m, near Cerro Chaupiloma Brecciated structure 100-300m long with parallel branches, Galena-spahlerite in chalcedonic silica matrix. Zn: 0.11-2.8%, some highs up 4.55%. Wall rocks up 900 ppm. Pb: 0.11-2.9%, excepcional highs of 8.2-16.9%. Wall rock up 900 ppm

Ag: 18-85 g/t in Chaupiloma vein. 0.5-10 g/t Ag in wall rocks. Cu: 20-259 ppm, 1 value of 0.13% Cu. Cd: 10-60 ppm in four samples Milagros Arequipa department, 2,800 hectares. Covers west and north areas of Chocos property. Crosta image altered area at the contact of Tertiary intrusive with Tertiary Belt volcanics rocks. Targets: Au-Cu veint systems associated with high Pb-Zn-Ag grades. OTHER TARGETS (Need more prospection) Yanajaja, 3Km SE of Cerro Chocos, Two geochemical Pb-Zn-Cu anomalies in 185m x 75m, 250 x 105m. Collpa Capilla, 5 Km NE of Cerro Chocos. Chalcedonic silica structures (pyrite, arsenopyrite, Fe-Mn-Ox) in an anomalous area of 350m x 250m.

142

Chocos, Regional Trend - LARA Properties

143

Chocos, Panoramic View

Panoramic view of Chocos vein system hosted in kaolinized volcanic andesitic. Note strong oxidation and leached zones. 144

Chocos, North View

W
Dome Andesitic

Veins 1 a 5 m. andesites

2.2 Km. aprox North View, mineralization Area

145

Chocos, Vein Outcrops

Note small pit a long C vein and trenches to check vein lateral extension.
Trenches Pit

Sample N 40775 reported 4.1 ppm Ag, 637 ppm Cu, 15.5 % Pb and 12.9 % Zn.

Sample N 40925 reported 3.7 ppm Ag, 9 % Pb, 9 % Zn and 0.22 % Cu. 146

Chocos, Mineralyzed Sample, Vein Type

Brecciated vein structure strongly leached. Only relicts of galena and sphalerite sulfates and carbonates of Pb and Zn associated to limonites. Sample N 40758 reported 7.7 ppm Ag, 315 ppm Cu, 1.79 % Pb and 0.39 % Zn. Sample N 40759 reported 2.3 ppm Ag, 711 ppm Cu, 0.39 % Pb and 0.47 % Zn. 147

Early Properties

148

Early Stage Properties

Indio Ica department; 3,100 hectares. Corimire Ica department; 3,100 hectares.

149

150

151

Prospective areas in Peru

Bayovar East

Sierra Central

Three prospective areas in Peru

Ocucaje

152

Bayovar East - Sedimentary belts

Prospective area

Guayaquil

Ecuador

BAYOVAR

Peru
Silicoclastic Sediment Not Defined Sediment Marine Sediment Indifferentiated Continental Sediment Indifferentiated Calcareous Sediment

153

Bayovar Extensions - High Potential Target

Remote sensing shows the Bayovar host sediments extend beyond existing exploration and mining licenses. The Kiwanda Allaince has filed 4300 hectares of exploration claims. Potential for large-scale strip mining operation like Vale SA has at Bayovar. Close to infrastructure, including the port of Guayaquil.

154

Bayovar Next Step

Environmental studies for Exploration Permits.

Surface reconnaissance of Kiwandas claims.

Elaborate a Drilling program to be executed early 2013.

155

Ica Phosphate Exploration

The Ica phosphates are hosted in massive (850m thick) marine sedimentary unit. Target was multiple, extensive, flat-lying phosphate-rich beds in the upper part of the Pisco Formation that might be suitable for large-scale strip mining like at Bayovar.

Protected Areas
Most of the prospective areas lie within environmentally protected areas, but there is a central zone and some buffer areas where claims were taken.

Metallic claims Non Metallic claims

Exploration area

157

KIWANDA ALLIANCE SAMPLES

WGS84 East North Elevat. Sample m a.s.l. # Type of sample Bed Sampled thicknes (cm) P2O5 % Al2O3 Fe2O3 K2O Na2O MgO CaO

Field reconnaissance reported good grades

424,210 424,031 424,012 424,006 424,006 423,633 422,944 423,713

8,412,950 8,412,875 8,412,850 8,412,813 8,412,813 8,414,028 8,414,870 8,413,826

341 373 380 392 400 369 394 368

50901 50902 50903 50904 50905 50906 50907 50908 50909 50910 50911 50912 50913

Selected nodules Hs. debris Selected nodules Hs. Debris Selected nodules Hs. Debris Matrix + nodules Sd-stone Matrix + nodules Sd-stone Nodules Single nodule Matrix Sd-stone Sd-stone

? ? ? 30 40 60 15 100 ? ? 80 ? 80

13.0 16.6 16.2 6.1 0.8 0.2 1.7 0.6 17.1 0.5 0.2 0.5 0.4

2.6 1.3 1.4 1.8 1.6 2.0 2.7 2.2 1.5 3.1 3.8 2.2 3.0

2.1 1.2 1.5 1.8 1.5 2.0 10.5 1.6 1.4 8.1 3.5 2.7 3.5

0.6 0.4 0.6 0.5 0.3 0.4 0.4 0.4 0.4 0.3 0.4 0.2 0.3

1.4 1.6 1.6 1.6 0.5 0.4 0.7 0.4 1.4 0.5 0.7 0.6 0.6

1.0 0.7 0.7 4.4 12.7 0.7 2.0 0.8 0.8 3.9 1.3 2.7 1.3

20.7 27.4 25.7 17.7 23.2 3.2 4.6 1.2 26.1 13.5 5.6 11.5 6.1

Selected nodules Sd-stone Selected nodules Sd-stone Matrix Sd-stone

428,741

8,394,084

355

428,708

8,394,072

367

Selected nodules Sd-stone Matrix Sd-stone

424,471 424,499
424,477 380,693 380,890

8,400,997 8,400,942
8,400,975 8,455,259 8,455,855

531 548
536 190 168

50914 50915
50916 50917 50918

Limonitic crust Matrix

Single nodule Yellow nodules Surface sand

Sd-stone Sd-stone

20 60
15

0.2 1.5
0.4 3.4 0.2 15.8 0.5 1.1

0.9 2.5
5.0 2.0 1.6 1.5 2.9 1.0

0.9 2.8
8.6 3.0 2.2 1.4 4.3 1.4

0.2 0.4
1.8 0.3 0.3 0.5 0.2 0.2

0.2 2.1
0.9 0.4 0.3 1.3 0.7 0.4

13.7 1.8
0.9 12.6 0.7 0.8 1.2 13.0

19.6 4.8
7.4 24.5 3.7 24.8 5.0 25.5

Sd-stone S. debris

? ?

50919 Dupli. of: 50909 50920 Dupli. of: 50913 50921 Dupli. of: 50905

158

Kiwanda New Ica Properties

Phosphates concentrated in crusts and nodule horizons of <30cm, within a stratigraphic section that is >120m thick.

The nodules and crusts are the only hard rock in the sequence and the matrix is friable sandstones that are easy to break down and separate.

Kiwanda Alliance is taking some new exploration claims (2300 has) over areas where paleo-channels have been identified by remote sensing, where the gravels should comprise just phosphate nodules.

Target area also benefits from being at low elevation, with minimal agricultural activity and good community relations.

159

Ica Next Spet

Environmental studies for Exploration Permits.

Surface reconnaissance of Kiwandas claims.

Elaborate a Drilling program to be executed may - june 2013.

160

Sierra Central - Peru

Geology and mineralization analogous to Stonegate Agricoms Mantaro deposit located 60km west

Kiwanda has the posibility to stak claims covering phosphatebearing Aramachay Formation.

Potential for Low-cost strip mining High elevation, minimal agricultural activity and good community relations.

Peru

Environmental permits for exploration program for all Peruvian properties. Drilling programs for Bayovar East Property. Drilling programs for Ocucaje Property. Exploration Program for Sierra Central Target.

162

KIWANDA CHILE S.A.

163

From where it starts: Chile - Baha Inglesa

Drilling campaign in 80s outlined ~87 Mt @ 8% P2O5. Exploited on a small scale (up to 10,000 tpa), sold as milled phosphorite, @ 18% P2O5. Considered as a natural green fertilizer and not a dirty chemical WPPA fertilizer. Pilot plant scale tests can be upgraded to 25% P2O5 by conventional flotation. Excellent road, energy and port infrastructure encourages further exploration work at this area.

Chile: Baha Inglesa

The Kiwanda Alliance: 6,200 has. all over the Bahia Inglesa deposit extension. Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) and SCM Baha Inglesa , exploits a nearsurface bed ~1m in thickness, which contains several discontinous horizons of hard phosphate crust and nodules, grading 15 20% P2O5. The strip ratio is ~2:1, with the overburden comprising unconsolidated sand and gravels. Current plant capacity ~10,000 tpa of milled

(95% < 100 # mesh), maxi-bagged, natural

phosphate rock.

Chile: Baha Inglesa

Introduction

A LOI between Kiwanda (Buyer) and the Chilean companies

Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) + SCM Baha Inglesa (Sellers) was signed on November 5, 2012. Said

document set up the starting point to perform a due diligence on the phosphate bearing mining properties of Selaqueos 1/2000 at Baha Inglesa, near Copiap, III Region, Chile.

167

Introduction
Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) + SCM Baha Inglesa initiated exploitation and marketing of natural ground phosphate rock in the early 90. Current capacity is of some 15 Ktpa of -100 # mesh, 16-18% P2O5, maxi bagged product. Product is traded under the brand name BIFOX in southern Chile.

A phosphoric acid pilot plant was also set up in the 90 but somehow it never worked
properly. No detailed information about this venture could be obtained yet from the Sellers.

Current milling plant

168

Due Diligence Process General Corporate

Phosphate deposit contained in the Selaqueos 1/2000 tenements is owned by two related companies: Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) and

Sociedad Contractual Minera Baha Inglesa (SCM B. Inglesa). Although there is no

intention to buy both companies it is necessary to be sure that the company exists and that there are no major issues with it.

169

Baha Iglesa: Stakeholders

Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) It is a standard Limited Liability Company where owners are:
Vctor Petermann F. (60%); Mara Petermann F. (20%); Patricio Campos P. (10%) Tehmco (10%).

Sociedad Contractual Minera Baha Inglesa (SCMBI) It is a Conventional Mining Company, similar to a stock company, but ruled by the mining code and targeting exploration and exploitation of mining properties. This type of company has some tax advantages. Owners are:
Victor Petermann (90) Patricio Campos (10%).

170

Corporate Finance and Indebtedness

Compaa Minera de Fosfatos Naturales Ltda. (BIFOX): No accounting registry of environmental liabilities was found. Its accumulated debts with related companies is of US$ 8.6 M. which will be difficult to draw back as the company shows a negative cash flow of some US$ 1 M. since the last 4 years. Sociedad Contractual Minera Baha Inglesa(SCMBI): Neither financial activities nor incomes are registered since the last 4 years. Its accumulated debts with related companies is of US$ 715,000.- The ownership of 280 mining tenements is not stated or considered in accounting books. No registry of environmental liabilities was found. The above statements rely on partial information as not all requests were answered. Both companies dont publish Annual Balances which would allow a better understanding which in turn could command decisions. The Sellers submitted partial information doesnt allow a complete and reasonable analysis of the financial situation of both companies. However, it is hard to believe that the owners (mainly Mr. Petermann) are still injecting money in a company that after so many years it still produces losses. Further details are stated in Victor Sandovalss accounting report, Annex 1.

171

Mining Properties
The tenements Selaqueos 1/2000 were initially filed in 1984 by the Chilean state agencies CORFO and CChEN (Atomic Energy Commission). Selaqueos 1/2000 comprised originally 10,000 hectares. After several transcription between related companies, currently the ownership of Selaqueos tenements is:
1,385 has Sociedad Contractual Minera Baha Inglesa 4,705 has Compaa Minera de Fosfatos Naturales Ltda. (BIFOX) 3,900 has Rejected and nowadays owned by 3d. parties

172

Lara De-Risking Exploration

People - management has depth (12 geologists), is highly experienced technically, commercially and locally. Insiders are significant shareholders. Finance liquid assets (cash and shares) sufficient for 2012 work program and the company expects additional cash from portfolio share sales and iron ore royalties. Paper only 26m shares outstanding, 28m fully diluted. Partnerships $73m potentially spent by partners over 4 to 5 years.
$2m potentially paid to Lara on the next 3 to 4 years. Equity in some investment partners.

Commodities diversified portfolio including Au, Ag, Cu, Ni, Fe, Zn, Pb, K, P and C (graphite) exposure. Politics active in multiple jurisdictions Brazil, Peru, Chile and Colombia

Discovery large diverse portfolio gives multiple chances of exploration success with limited downside risk.