News 2009

Lara Exploration Completes Acquisition Of Maxy Gold

Dec 21, 2009 Download PDF

(TSX Venture: LRA) - Lara Exploration Ltd. is pleased to report that it has completed its acquisition of all the issued and outstanding shares of Maxy Gold Corp. Effective today, Maxy became a wholly owned subsidiary of Lara and its shares were delisted from the Exchange. André Gauthier, Maxy’s President, has been appointed Lara’s President and joined its Board of Directors. Miles Thompson has become Chairman of Lara’s Board and will continue as its CEO.

Pursuant to the acquisition, each Maxy share was exchanged for 0.125 Lara shares and Maxy options were exchanged for Lara options on the same ratio. A total of 4,307,731 Lara shares and options to purchase a further 340,000 Lara shares were issued. Lara now has 23,571,732 shares issued and outstanding.

About Lara

Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio focused in Brazil, Colombia and Peru. Lara’s common shares trade on the TSX Venture Exchange under the symbol “LRA” and on the pink sheets under “LRAXF”. For further information on Lara Exploration Ltd. please consult our website or contact:

Miles Thompson – 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.