TSX.

V: LRA

Creating Value Through Exploration, Acquisitions and Discovery Investor Presentation

May 2013

Creating Value Through Discovery in South America

TSX.V: LRA

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.

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Company Snapshot
Management & Directors
Miles Thompson, Chairman Andre Gauthier, President Michael Bennell, VP Exploration Chris MacIntyre, VP Corporate David Miles, CFO Kim Casswell, Corp Secretary Noel Diaz, Manager Peru

TSX Venture Exchange listed in Canada, symbol LRA Exploring in Brazil, Peru, Chile and Colombia

Experienced South American management team

Large portfolio across a diverse range of commodities 15 partnerships and three alliances potentially delivering over $61m in cash and third-party funded exploration

Helio Ikeda, Manager Brazil

Independent Directors Michael Winn Byron King

~$5m in treasury covers 2013-14 budgets

New copper-gold discovery at Liberdade in Brazil
Share Capital Outstanding Warrants Options Fully Diluted Price 1.30 1.85 1.04 Shares 30,499,687 4,683,175 2,436,875 37,019,697
3

% Total 83% 11% 6%

Adrian Calvert
Chris Jones Geoff Chater

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Prospect Generator Business Model

Prospecting we acquire mineral prospects and work up targets on them, then bring in Joint Venture partners to fund on-going exploration and development Alliances we conduct high-risk generative work for specific commodities/regions, funded by partners, with any targets acquired then going into Joint Ventures Joint Ventures we retain risk-free minority interests in the projects we generate, shares in partner companies and/or royalties

Risk this approach makes Lara a more sustainable business than most of its peers, while remaining exposed to the substantial returns generated by a major discovery
Liberdade this is what its all about our JV with Chilean copper giant Codelco has intercepted significant copper-gold mineralization at Liberdade. Codelco must carry Lara through additional drilling and resource definition to earn its interest.

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Breaking News Liberdade Discovery

IOCG drilling indicates a potentially large Carajstype copper-gold system Codelco JV $3 million of exploration to earn 51% and delivering a minimum compliant resource of 500,000t of contained copper to earn 75% Next Step - 3,000m to 4,000m drill program starting up in April 2013

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Multi-Commodity Project Portfolio

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Option and Joint Venture Agreements

Partner Aguia Resources Codelco Avenue Resources Focus Graphite Antofagasta Project Sergipe Liberdade North Brazil Caninde Sami Commodity Potash Copper Tin Graphite Copper, Gold Country Brazil Brazil Brazil Brazil Peru Lara Residual % 25% 25% 25% 40% 25%+FS Payment US$m 0.10 Exploration US$m 1.50 3.00 2.50 7.00 6.00 0.50 Shares m 10.0 Years 2 4 4 5 4

Redzone Resources
Network Exploration Halston Exploration Halston Exploration Alta Resources Totals

Lara + Tingo Este

Picha Condoroma Coporaque Atenea

Copper
Copper, Silver Copper Copper Gold

Peru
Peru Peru Peru Peru

45%
25%+PFS 25%+FS 25%+FS 25%+FS 1.20 1.80 1.65 1.50 6.15 8.00 10.50 10.00 6.75 55.25

0.85
3.00 3 6 6 7

Partnerships leverage Laras investment in target identification and acquisition and significantly increase the number of opportunities that were able to test

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3 Strategic Alliances
Partner
Antofagasta Kiwanda Kiwanda Totals

Commodity
Copper Phosphate Coal

Countries
Brazil Peru, Chile, Colombia Peru, Colombia

Lara Residual %
30% 30% 30%

Payment US$m
3

Exploration US$m/Year
0.6 0.5 0.6

Years
3 3 3

3.00

1.7

3 Strategic Alliances formed in 2012 Each Alliance provides funding for generative work, with new projects going to joint ventures where the partner will fund exploration to earn a 70% interest Low-risk way for Lara to leverage its experience and database to acquire new joint venture project interests

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Listed Interests and Royalty Agreements

Partner
Vertical Minerao

Project
Vertical

Commodity
Iron

Country
Brazil

Lara Interest
Royalty

Cash US$m 0.80 1.00 3.00 0.45 2.25

Royalty
0.75-1.50/t

Shares m

Horizonte Minerals
Avenue Resources Avanco Resources Hochschild CJL Capital Totals

Vila Oito
Sao Lourenco Conceicao Lampa Chocos

Nickel
Tin Ni-PGE Gold Zinc-Lead

Brazil
Brazil Brazil Peru Peru

Shares
Royalty Royalty Royalty Royalty 1.0% 2.0% 2.0% 2.0%

8.5
3.0

Most joint venture agreements result in a royalty interest if Lara elects not to fund its minority interest Market currently puts high value on royalties and Lara intends to grow this part of its portfolio in the coming years The Vertical iron project is now permitted to begin small-scale production and, subject completion of project finance, could be the first royalty to start paying out

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Six Drill Programs JV Funded Again in 2013

2013 Liberdade (Cu) Sergipe (K) Condoroma (Cu) Picha (Cu-Ag) Sami (Cu-Au)

12 third-party funded drill programs completed 2011-2012. 2012 programs substantially expanded the Lara Copper and Vertical Iron deposits and confirmed the Liberdade copper discovery. 5 drill programs already planned for 2013

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Brazil Exploration Highlights

Copper-gold discovery at Liberdade with Codelco. Curionopolis high-grade copper target, >1% Cu breccias. Sergipe Potash target to be drilled in 2013

Growing pipeline of iron, copper and graphite prospects.

New copper exploration Alliance with Antofagasta 16 projects, 7 funded by JV

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Peru Exploration Highlights

Drilling substantially expanded footprint of the Lara Cu porphyry. World class epithermal district outlined at Sami. Drill permits secured for Condoroma and Picha 18 projects, 8 JVs

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Sami (Peru) District-Scale Epithermal System

20 high sulphidation epithermal gold and porphyry style copper-gold targets indentified. The large area of prospective alteration is indicative of district potential.

Pitusaja zone of strong silica alteration with gold values. Similar outcrops nearby suggest mineralization extends under cover for several kilometres.

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Lara Copper (Peru) Mid-Size Cu-Mo Porphyry

Drilling has materially expanded the mineralization to 2km by 0.5km. 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 establishes valuation target benchmark

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Vertical Iron (Brazil) - Royalty Project

Iron formations extend for over 10km within the property Pilot mining license and permitting in place for smallscale production Final Exploration Report with Resources and Reserves filed with the Brazilian Dept of Mines Vertical currently working to secure a Mining License and project finance

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Curionopolis (Brazil) - High-Grade Copper

Located in the Carajas IOCG district close to several operating iron and copper mines.

Artisanal workings expose highgrade copper-gold veins.

Recent drill holes include: 53.8m at 9.59% Cu & 29.05m at 4.56% Cu

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De-Risking Exploration
People - management has depth (10 geologists), is highly experienced technically, commercially and locally. Insiders are significant shareholders. Politics active in multiple jurisdictions Brazil, Peru, Chile and Colombia. Finance $5m treasury sufficient for 2013-14. The company expects additional cash from portfolio sales, share sales and royalties going forward. Paper approximately 31m shares outstanding and 37m fully diluted. Partnerships over $61m of exploration to be potentially paid for by joint ventures and alliances with companies from Canada, UK, Australia and South America. Commodities diversified portfolio including Au, Ag, Sn, Cu, Ni, Fe, Zn, Pb, K, P, C (graphite) and coal exposure. Portfolio - includes a number of significant discoveries and projects maturing towards resource definition and mining. Payback large diverse portfolio gives multiple chances of the kind of exploration success that generates outstanding returns to shareholders, while the partnerships funding limits the downside risk.

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