Grant of Incentive Stock Options

September 1, 2020 (TSX Venture: LRA) - Lara Exploration Ltd., ("Lara" or the "Company") announces that pursuant to the Company's stock option plan, 1,565,000 incentive stock options exercisable at $0.76 per share for a period of five years have been granted to directors, officers, management company employees and consultants of the Company.

About Lara

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects, deposits and royalties predominantly 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 Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.