Annual Report For Year Ending Dec 31, 2009
(TSX Venture: LRA) - Lara Exploration Ltd., Annual Report
Dear Shareholders,
On behalf of the Board of Directors of Lara Exploration Ltd. (“Lara” or the “Company”), we are pleased to report on the activities and progress of the Company in 2009, and our plans moving forward in 2010. After a profitable year in 2008 from the sale of the Mantaro Phosphate deposit in Peru, 2009 was marked by tougher market conditions and the need for reorganization as several joint ventures fell away and new partners were harder to come by. However, we were able to clean up the portfolio and complete several transactions by year-end that promise to make 2010 a much more productive year.
Lara’s business model is that of a Prospect Generator, very different from most listed exploration juniors, in that we make modest investments in many projects across a broad range of commodities and seek to develop them through joint ventures, rather than betting our treasury on risky drill programs. The core business of the Company is thus a mixture of prospecting, exploration, joint ventures and strategic acquisitions and alliances.
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About Lara
Lara is an exploration company following the Prospect Generator business model which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio prospects and deposits in Brazil, Peru, Colombia and China. 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 – CEO or Andre Gauthier – President, at 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.