June 22, 2009 (TSX Venture: LRA) - Lara Exploration Ltd. ("Lara" or
"the Company") is pleased to report that it has been granted potash
exploration licenses, totaling approximately 14,000 hectares, in
Sergipe State, northeast Brazil. The claims are adjacent to and cover
the extensions of the potash-bearing sedimentary basins of Vale's
Taquari-Vassouras mine, which produced 607,000 tons of potash in 2008.
These sedimentary basins have been explored extensively for oil and gas
in the past and a database of seismic surveys and exploration drilling
is available through the Brazilian National Petroleum Agency ("ANP").
This ANP data includes eight wells drilled within Lara's new licenses,
several of which intercepted potash, with the best drilled intercept a
cumulative 37.6 meters of potash mineralization in ten separate
sedimentary units between 1,710 and 1,806 meters depth. The Company
plans to access and review the available exploration data in the coming
months.
Brazil is a major consumer of potash, mostly as a feedstock for
fertilizers. Taquari-Vassouras is the only operating potash mine in
Brazil, which currently imports 90% of its potash needs.
The Company's Sergipe Potash exploration licenses are held through Lara
Aliança Ltda., a Brazilian company owned 100% by Lara Alliance BVI
Ltd., which is in turn owned 50% by Lara and 50% by Sprott Resource
Corp.
Quality Control
Michael Bennell, Lara's Vice President Exploration and a member of the
Australasian Institute of Mining and Metallurgy (AusIMM), is a
Qualified Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects, and is responsible for the preparation
and verification of the technical information in this release.
About Lara
Lara is a well-funded prospect generator, with a multi-commodity
exploration portfolio focused on Brazil, but with significant holdings
in Colombia 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: Miles Thompson --
President, or Kim Casswell - Corporate Secretary, at (604) 669-8777.
Investor Relations:
Julia Maxwell - (604) 669-8777
Chris MacIntyre - (416) 640-1932
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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Copyright (c) 2009 LARA EXPLORATION LTD. (LRA) All rights reserved.
For more information visit our website at
or send mailto:info@laraexploration.co...
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