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Lara Exploration Ltd., (CVE:LRA) announces that the company has agreed with Votorantim Metais Zinco S.A. to extend by one year, to May 16, 2012, the Votorantim Metais option to earn an initial 55% interest in the Company’s Canabrava VMS Project in Central Brazil.
Lara Exploration Ltd., (TSXV:LRA) announces that the company has agreed with Votorantim Metais Zinco S.A. to extend by one year, to May 16, 2012, the Votorantim Metais option to earn an initial 55% interest in the Company’s Canabrava VMS Project in Central Brazil.
The press release is quoted as saying:
Under the terms of the agreement Votorantim Metais can earn an initial 55% interest in the Canabrava VMS Project, by funding $2.5 million of exploration expenditures (approximately $750,000 spent to date) over a three year period (now ending May 16, 2012).
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