1. TSX.V: LRA
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Investor Presentation
May 2013
Creating Value Through Discovery in South America
“Creating Value Through Exploration, Acquisitions
and Discovery”

2. 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 Company’s actual results to differ materially from the
forward-looking statements, please review the Company’s 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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3. TSX.V: LRA
• 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
• ~$5m in treasury covers 2013-14 budgets
• New copper-gold discovery at Liberdade in Brazil
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
Helio Ikeda, Manager Brazil
Independent Directors
Michael Winn
Byron King
Adrian Calvert
Chris Jones
Geoff Chater
Share Capital Price Shares % Total
Outstanding 1.30 30,499,687 83%
Warrants 1.85 4,683,175 11%
Options 1.04 2,436,875 6%
Fully Diluted 37,019,697
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TSX.V: LRA
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.
Prospect Generator Business Model
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TSX.V: LRA
Breaking News – Liberdade Discovery
IOCG – drilling indicates a
potentially large Carajás-
type copper-gold system
Codelco JV – $3 million of
exploration to earn 51%
and delivering a minimum
compliant resource of
500,000t of contained
copper to earn 75%
Next Step - 3,000m to
4,000m drill program
starting up in April 2013
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TSX.V: LRA
Multi-Commodity Project Portfolio
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TSX.V: LRA
Option and Joint Venture Agreements
Partner Project Commodity Country
Lara Residual
%
Payment
US$m
Exploration
US$m
Shares
m Years
Aguia Resources Sergipe Potash Brazil 25% 0.10 1.50 10.0 2
Codelco Liberdade Copper Brazil 25% 3.00 4
Avenue Resources North Brazil Tin Brazil 25% 2.50 4
Focus Graphite Caninde Graphite Brazil 40% 7.00 0.50 5
Antofagasta Sami Copper, Gold Peru 25%+FS 6.00 4
Redzone Resources Lara + Tingo Este Copper Peru 45% 0.85
Network Exploration Picha Copper, Silver Peru 25%+PFS 1.20 8.00 3.00 3
Halston Exploration Condoroma Copper Peru 25%+FS 1.80 10.50 6
Halston Exploration Coporaque Copper Peru 25%+FS 1.65 10.00 6
Alta Resources Atenea Gold Peru 25%+FS 1.50 6.75 7
Totals 6.15 55.25
• Partnerships leverage Lara’s investment in target
identification and acquisition and significantly increase
the number of opportunities that we’re able to test
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TSX.V: LRA
3 Strategic Alliances
Partner Commodity Countries
Lara Residual
%
Payment
US$m
Exploration
US$m/Year Years
Antofagasta Copper Brazil 30% 3 0.6 3
Kiwanda Phosphate Peru, Chile, Colombia 30% 0.5 3
Kiwanda Coal Peru, Colombia 30% 0.6 3
Totals 3.00 1.7
• 3 Strategic Alliances formed in 2012
• Each Alliance provides funding for generative work, with new projects going to
joint ventures where the partner will fund exploration to earn a 70% interest
• Low-risk way for Lara to leverage its experience and database to acquire new
joint venture project interests
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TSX.V: LRA
Listed Interests and Royalty Agreements
Partner Project Commodity Country Lara Interest Cash US$m Royalty Shares m
Vertical Mineração Vertical Iron Brazil Royalty 0.80 0.75-1.50/t
Horizonte Minerals Vila Oito Nickel Brazil Shares 8.5
Avenue Resources Sao Lourenco Tin Brazil Royalty 1.00 1.0% 3.0
Avanco Resources Conceicao Ni-PGE Brazil Royalty 3.00 2.0%
Hochschild Lampa Gold Peru Royalty 2.0%
CJL Capital Chocos Zinc-Lead Peru Royalty 0.45 2.0%
Totals 2.25
• 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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TSX.V: LRA
• 2012
– Lara (Cu, Mo)
– Curionópolis (Cu, Au)
– Vertical (Fe)
– São Lourenço (Sn)
– Conceição (Ni)
– Liberdade (Cu)
Six Drill Programs JV Funded Again in 2012
• 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
• 2013
– Liberdade (Cu)
– Sergipe (K)
– Condoroma (Cu)
– Picha (Cu-Ag)
– Sami (Cu-Au)
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TSX.V: LRA
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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TSX.V: LRA
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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TSX.V: LRA
• 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.
Sami (Peru) – District-Scale Epithermal System

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TSX.V: LRA
• Drilling has materially expanded
the mineralization to 2km by
0.5km.
• Low altitude, close to
infrastructure and the coast.
Lara Copper (Peru) – Mid-Size Cu-Mo Porphyry
• 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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TSX.V: LRA
• Iron formations extend for over
10km within the property
• Pilot mining license and
permitting in place for small-
scale 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
Vertical Iron (Brazil) - Royalty Project

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TSX.V: LRA
• Located in the Carajas IOCG
district close to several operating
iron and copper mines.
• Artisanal workings expose high-
grade copper-gold veins.
• Recent drill holes include: 53.8m
at 9.59% Cu & 29.05m at 4.56% Cu
Curionopolis (Brazil) - High-Grade Copper

17. TSX.V: LRA
• 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.
De-Risking Exploration
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