News 2006

Technical Report On Its Campos Verdes Project

May 17, 2006

Lara Exploration Ltd. ("Lara Exploration") (TSX VENTURE: LRA) (TSX VENTURE: LRA.WT) is pleased to announce that it has filed a technical report on its Campos Verdes Project, prepared by John P. Barry, P.Geo., of Irus Consulting, entitled Technical Report Campos Verdes Gold Exploration Project Goiás State, Brazil, dated April 14, 2006, under the Corporation's profile on the SEDAR database at Mr. Barry is a Qualified Person as defined by National Instrument 43- 101, and is responsible for the preparation of the technical report.

The 180 square kilometer Campos Verdes project covers part of the Santa Terezinha greenstone belt in Central Brazil and includes two historic small scale gold workings known locally as "garimpos" Reconnaissance sampling at the João Neves garimpo has returned values of up to 49.7 grams gold per tonne from grab samples of vein material, while channel sampling yielded 5.9 grams gold per tonne over 5.8 metres (including a higher grade section running 8.5 grams gold per tonne over 2.8 metres) within a 55.1 metre long trench at the northeast end of the workings. The average uncut grade of all the samples collected along the trench is 0.8 gram gold per tonne. At the Modesto garimpo, 26 surface channel samples collected over a 42 metre long section returned up to 1.03 grams gold per tonne and averaged 0.23 grams gold per tonne (Press Release April 24, 2006).

Lara completed baseline environmental studies at Campos Verdes in April and has now mobilized an exploration team to initiate the work program recommended in the Technical Report. Detailed mapping, geochemistry, geophysics and trenching will be undertaken around the João Neves and Modesto garimpos and to follow up on a coincident geochemical and geophysical anomaly in the southeast corner of the property, to define drill targets.

Richard Graham P.Geol., is a Qualified Person as defined by National Instrument 43-101, and is responsible for the preparation of the technical information in this release.

Forward-Looking Statement
Some statements in this report contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.

On behalf of the Board, Miles Thompson, President & CEO

For further information on Lara Exploration please contact: Miles Thompson or Kim Casswell, Corporate Secretary at +1 604 669 8777

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.