Lara Exploration pairs with Triumph Tin Mining on its tin projects

VANCOUVER – Lara Exploration Ltd. (TSXV:LRA) has paired with Triumph Tin Mining Ltd. to explore and develop its tin projects in northwest Brazil.

The Vancouver-based company said Monday the binding agreement will see Triumph assume the rights to Lara’s Sao Lourenco Tin Project for US$50,000 in cash and $500,000 in shares within 30 days of the agreement.

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Further cash and share payments of $1 million over four years, as well as a one per cent net smelter royalty, would follow.

Triumph would also have the option to buy the rights to Sao Lourenco for $1.1 million cash before May 2012.

Triumph also acquired an option to earn up to a 75 per cent interest in Lara’s North Brazilian Tin Project for $35,000 in cash as well as a $2.5-million investment in the project over four years, plus a one per cent net smelter royalty.