1. business and industrial
2. energy
3. coal

Building a South American Exploration Business Through the Cycle
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
4000
350000000
2007 Market Peak 3500
300000000
2011 Commodity Price Peak 3000
250000000
2500
200000000
2000
150000000
1500
100000000
1000
50000000
500
0
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 0
•  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
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Timelines for Exploration and Development
Source: Brent Cook – Exploration Insights
1 -­‐2 year
s Rela=ve Value Concept Speculators Leave ears 2-­‐3 y
12 10 8 6 4 2 0 1 yea
r Full Value Sold to a Miner Orphan Period Ins=tu=onal Investment ~4 to 5 years Pre-­‐discovery Discovery Feasibility Development Startup Deplete •  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
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Lara Share Price Chart 2006 to Present
2.5
1400000
Nickel Discovery in Brazil 2
Copper Discoveries in Brazil $5m from sale of Phosphate Project in Peru Sale of Non-­‐Core Assets to Raise Finance 2013-­‐14 $5m equity Financing 1.5
1200000
1000000
800000
Maxy Peru acquisi=on 600000
1
400000
Pan Brazilian 0.5 acquisi=on and $2.5m Financing 0
2005-05-28
2006-10-10
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200000
Looking for Acquisi=ons Again 2008-02-22
2009-07-06
2010-11-18
January 2015
2012-04-01
2013-08-14
0
6
Share Capital and Sustainability
Treasury
Value
Share Capital
Number
Percent
Market Capitalization
~CAD$12 M
Outstanding
30,969,691
94%
Cash & Marketable
Securities
~CAD$1.5 M
Options
1,975,000
6%
Payments due from
Partners (est. 2015-2016)
~CAD$2.0 M
Fully Diluted
32,944,691
100%
2015 Budget
CAD$1.5 M
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 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.
Michael Bennell (VP Exploration)
+30 year track record with multiple discoveries in
Australia, Brazil and Africa. Previously with BHP Billiton
and AngloGold.
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.
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.
TSX-V: LRA
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
Brazil
Vertical
Curionopolis
Iron
Royalty
0.80
5.00
Peru
Aruntani
Grace
Gold
Royalty
2.00
0.50
Peru
Redzone
Lara-Tingo
Copper
45%
Peru
Hochschild
Corina
Gold
Royalty
Peru
Goldplata
Condoroma
Copper
Shares
Chile
Kiwanda
Bahia Inglesa
Phosphate
Shares
Colombia
Kiwanda
Carbhid
Coal
Shares
2% NSR
Colombia
Kiwanda
Pelaya
Coal
Shares
2% NSR
Totals
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January 2015
2% NSR
0.75-1%
NSR
0.85
4.15
$0.75 $1.5/t
2.00
1% NSR
2% NSR
TBD
0.77
11.12
5.00
22.80
2% NSR
10
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
Open Pit Potential
•  Poten=ally large open piYable 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 awai=ng license renewal for next phase of drilling 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
Please refer to ‘Codelco Intercepts 197 Metres At 0.72% Copper Equivalent At Liberdade’, Released: March 1, 2013
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Curionopolis Copper - Brazil
•  Also located in the Carajás district close to opera=ng iron and copper mines. •  Ar=sanal 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 royal=es. Please refer to ‘Positive Drill Results from The Curionopolis Copper-Gold Project’, Released: December 1, 2011
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Vertical Iron - Brazil
•  Iron forma=ons extend for over 10km within the property •  Pilot mining license and permibng in place for small-­‐ scale produc=on •  Final Explora=on Report with Resources and Reserves filed with the Brazilian Dept of Mines •  Ver=cal currently working to secure environmental permits and Mining License •  Lara gets cash and royal=es. Minimum royalty payments due from 2015 TSX-V: LRA
January 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
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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 coppergold 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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Lara Copper - Peru
•  Mineralized footprint 2km by
0.5km. Oxide resource over a midsized 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%
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January 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.
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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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