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 Re:  News Release - Tuesday, August 12, 2008
      Lara Reports Results of Campos Verdes Drill Program
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 Lara Exploration ("Lara" or the "Company") is pleased to report results
 of the year-one program at the Campos Verdes Gold Project in central
 Brazil, which included regional soil geochemistry, ground geophysics
 and a 10-hole program of diamond drilling totalling 1,448.31 meters.
 This program was operated by Lara and funded by CCT Capital Ltd.
 (TSX.V: CCW), under the terms of the Mineral Property Option Agreement,
 whereby CCT may earn a 70% interest in the Campos Verdes Property from
 Lara, by spending US$2 million on exploration by February 27, 2010.

 The program focused on past artisanal gold workings on the Joćo Neves
 structural zone in the northern part of the property. This northeast to
 southwest oriented structure has now been covered by soil geochemistry
 for more than 12 kilometers along its strike length. Regolith and
 geological mapping was also carried out along the trend and
 reconnaissance soil sample lines were completed across a number of
 other anomalies. Detailed ground geophysical work, including Induced
 Polarization, Resistivity and Magnetic surveys were completed on both
 the Joćo Neves-Jeovah trend and at Modesto, another area of abandoned
 artisanal workings in the southern part of the property.

 Diamond drilling tested the down-dip extensions of mineralization
 sampled in the abandoned Joćo Neves open pit (978 meters in six drill
 holes) and the Jeovah soil and trench anomalies to the northeast of it
 (408 meters in three holes). A single 60 meter hole was also drilled at
 the Modesto target. The assay results for drill holes testing the Joćo
 Neves and Jeovah targets have only indicated a few uneconomic narrow
 low-grade gold intervals with the best intersections of 0.98 meters at
 4.54 grams per tonne ("g/t") gold at Joćo Neves and 0.94 meters at 6.64
 g/t gold at Jeovah. Gold intersections at better than 0.5 g/t gold from
 the program are given below:

 --------------------------------------------------------------------
 TARGET    Drill hole  From (m)        To (m)  Width (m) Grade (g/t)
 --------------------------------------------------------------------
 Joao Neves    JNDH01    37.00        38.00      1.00        2.89
                          41.00        42.00      1.00        1.44
              -----------------------------------------------------
              JNDH02  No significant result
              -----------------------------------------------------
              JNDH03  No significant result
              -----------------------------------------------------
              JNDH04    115.00        116.00      1.50        1.23
              -----------------------------------------------------
              JNDH05    56.67        57.65      0.98        4.54
              -----------------------------------------------------
              JNDH06  No significant result
 --------------------------------------------------------------------
 Jeovah        JEDH01    30.00        31.00      1.00        0.70
              -----------------------------------------------------
              JEDH02      8.12          9.06      0.94        6.64
                          23.35        23.88      0.53        1.59
                          29.17        30.17      1.00        0.57
              -----------------------------------------------------
              JEDH03  No significant result
 --------------------------------------------------------------------
 Modesto        MODH01  No significant result
 --------------------------------------------------------------------

 The gold results for the holes drilled under the old Joćo Neves pit are
 very disappointing considering that surface channel sampling
 encountered local bonanza gold grades up to 133 g/t gold in the walls
 of the old pit. Supergene enrichment of gold in iron oxides may be
 partly the cause. Although no significant economic gold mineralization
 was located by the drilling at Joćo Neves and Jeovah targets there are
 significant, albeit lower order, soil geochemical anomalies present
 elsewhere in the Joćo Neves regional soil grid that could lie over less
 well exposed, but better mineralized sections in the regional shear
 zone.

 Quality Control

 Michael Bennell, Lara's Vice President Exploration and a member of the
 Australasian Institute of Mining and Metallurgy (AusIMM), is a
 Qualified Person as defined by National Instrument 43-101 Standards of
 Disclosure for Mineral Projects, and is responsible for the preparation
 and verification of the technical information in this release.

 All the drill cores were logged and sampled by Lara's geologists, with
 core samples submitted to the ACME and SGS-Geosol sample preparation
 laboratories  in Goiānia (Brazil) for preparation, with sample pulps
 then sent on to the ACME and SGS-Geosol laboratories  in Santiago,
 (Chile) and Belo Horizonte, Brazil, repectively, for fire assay
 analysis. Blank samples and industrial standards were routinely
 inserted into each sample batch as part of the Lara QA-QC program and a
 selection of check samples of pulps retrieved from Acme were also
 submitted to SGS Geosol to cross check the Acme results. The coarse
 rejects for intervals logged with visible gold and a selection of
 samples with varying gold values were analysed by the metallic screen
 fire assay method at SGS-Geosol to determine if this style of
 mineralization has any serious nugget effect.

 About Lara

 Lara is a natural resource prospect generator, with 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.

 - 30 -

 The TSX Venture Exchange does not accept responsibility for the
 adequacy or accuracy of this news release

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 Copyright (c) 2008 LARA EXPLORATION LTD. (LRA)  All rights reserved.
 For more information visit our website at
 http://www.laraexploration.com/ or send mailto:info@laraexploration.com
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