Lara Exploration Ltd. reported that it has signed an option agreement with Mineração Tariana Ltda., a subsidiary of Anglo American do Brasil Ltda., to acquire an exploration licence adjacent to the company's Planalto Copper Project in the Carajás Mineral Province of northern Brazil. The license is being acquired by Lara's subsidiary Planalto Mineração Ltda., and will form part of the company's staged earn-in agreement with Capstone Mining Corp. Under the terms of the agreement with Tariana, Planalto will make a payment of USD 50,000 upon the date of publication of the transfer of title by the Brazilian Mining Agency and payments of USD 50,000 on the first and second anniversaries of that date. Planalto has committed to complete a minimum of 2,000 meters of diamond drilling together with resource and reserve studies by May 2022. Planalto then has until the date of filing of the Final Exploration Report with the ANM to notify Tariana of its intention to exercise the option and put the project into production. Planalto will pay a 1.25% Net Smelter Return Royalty to Tariana on production. If the project is not operating from July 31, 2026, at such date Planalto will make advanced royalty payments of USD 50,000 per year for five years or until the start of production if that is sooner, which amounts are recoverable from 50% of the royalties payable to Tariana thereafter.