Vancouver, British Columbia, June 18, 2008 (TSX Venture: LRA) – Lara Exploration Ltd. (“Lara” or the “Company”) is pleased to announce that Dr. Wojtek A. Wodzicki and Mr. Mark W. Monaghan were elected to the board of directors (the “Board”) at the annual general meeting of shareholders of the Company thereby replacing Mr. Colin Benner and Dr. Craig Bow who did not stand for re-election.
Dr. Wodzicki is currently the President and Chief Executive Officer of Sanu Resources Ltd. (“Sanu”) and has worked in the international mining industry since 1987, managing exploration programs on five continents. Prior to joining Sanu he developed an impressive career with Teck Cominco Ltd. that included managing exploration offices in Bolivia, Peru, Chile, and Argentina. In 2001 Dr. Wodzicki was appointed Teck Cominco’s General Manager of Exploration for North America and Europe-Africa. He holds a Ph.D. in Geosciences from the University of Arizona. Dr. Wodzicki also currently serves as Vice President of Strategic Partnerships for Lundin Mining Corporation where he is responsible for developing and managing strategic partnerships.
Mr. Monaghan currently serves as a consultant to companies and financial institutions in corporate development and merchant banking. Mr. Monaghan has over 15 years of investment banking and corporate development experience with Canadian investment banking firms and public companies. Most recently he held the position of President, Quest Securities Corporation, where he acted as financial advisor, raising equity capital for resource companies. Mr. Monaghan currently sits on the board of directors of several public companies and on the advisory committees of Reservoir Capital Corp. and Forsys Metals Corp. Mr. Monaghan holds a B.A. in Economics from Queen’s University and a B. Comm. from the University of Windsor.
Miles Thompson, President and Chief Executive Officer of Lara says, “We’d like to thank both Craig Bow and Colin Benner for their help up to this point and look forward to an on-going relationship with Craig in his new capacity as Technical Advisor to the Company. We are very pleased to welcome Wojtek and Mark to our team; their experience will greatly strengthen both our Board and management and we look forward to having access to their knowledge and experience.”
The Board of the Company comprises the following: Miles F. Thompson, Michael D. Winn, Narinder Nagra, Mark W. Monaghan, and Wojtek A. Wodzicki.
In addition, Lara announces the grant of 410,000 incentive stock options exercisable at CDN$0.80 per share for a period of five years to certain directors, officers and consultants of the Company.
Lara is a well-funded natural resource prospect generator, with a multi-commodity exploration portfolio in Brazil 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.