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1. THE ONLY ‘PURE-PLAY’ PRODUCER OF VANADIUM
TSXV: LGO
September 2015
CORPORATE
PRESENTATION
www.largoresources.com

2. TSXV: LGO
Forward Looking Statements
The information presented contains “forward-looking statements,” within the meaning of the United States Private Securities Litigation Reform
Act of 1995, and “forward-looking information” under similar Canadian legislation, concerning the business, operations and financial performance
and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with
respect to the estimation of mineral reserves and mineral resources; the realization of mineral reserve estimates; the timing and amount of
estimated future production; costs of production; metal prices and demand for materials; capital expenditures; success of exploration and
development activities; permitting time lines and permitting, mining or processing issues; government regulation of mining operations;
environmental risks; and title disputes or claims. Generally, forward-looking statements and forward-looking information can be identified by the
use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,”
“forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,”, “projects” or variations of such words and phrases or state that certain
actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur” or “be achieved.” Forward-looking statements and
forward-looking information are based on the opinions and estimates of management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking
information, including, but not limited to, unexpected events during operations; variations in ore grade; risks inherent in the mining industry;
delay or failure to receive board approvals; timing and availability of external financing on acceptable terms; risks relating to international
operations; actual results of exploration activities; conclusions of economic valuations; changes in project parameters as plans continue to be
refined; and fluctuating metal prices and currency exchange rates. Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information,
there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update
any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable
securities laws.
Investors are advised that National Instrument 43-101 Standards for disclosure for Mineral Projects (“NI 43-101”)of the Canadian Securities
Administrators requires that each category of mineral reserves and mineral resources be reported separately. Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources
The information presented uses the terms “measured,” “indicated” and “inferred” mineral resources. United States investors are advised that
while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not
recognize these terms. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal
feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are
cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United
States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
Except as otherwise specifically stated, Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43-
101 has reviewed and approved the scientific and technical disclosure contained herein
2

3. TSXV: LGO
Investment Summary
 Management with operational expertise
 Commodity with strong growth profile
 Only ‘pure-play’ exposure to vanadium
 Ramping up production
 High grade, low cost production project
 Commercial shipments ongoing
3
Substantially de-risked flagship project with near term cash flow
Vanadium Producer
With Tier-1 Asset
Project as at November 19, 2013Project as at December 26, 2013Project as at February 20, 2013

4. TSXV: LGO
Corporate Structure
4
Stock symbol: LGO – TSX-V
Share price (Sep 9, 2015): $0.50
Shares issued (Basic): 203 million
Market Cap C$102 million
52-week High/Low: $3.10 / $.47
Management & Institutions: 75%
Warrants & Options (Basic): 64 million
Institutional Shareholders
Arias Resource Capital – 46.3%
Mackenzie Investments – 7.8%
Eton Park Capital Management – 5.4%
Ashmore Investment Management – 5.4%
Shareholders & Project Partners
Project Finance Deal of the Year Awards - March 2013
Project Partners
Glencore International
100% 6 yr take-or-pay off-take for Maracas
Business Development Bank of Brazil
Bank Itau, Votorantim, Bradesco
Maracás Menchen Mine

5. TSXV: LGO
Largo Resources Overview
5
Key Risk
Mitigants
Offtake Agreement Experienced Operations Team Low-Cost Producer
 Senior management team has
extensive experience operating
mines in Brazil
 Technical team includes some
of the world’s foremost experts
on vanadium processing
 With the highest grade
vanadium resource in the world
and minimal contaminants,
Maracás is anticipated to be one
of the lowest cost producers —
ability to sustain operations in
low price environment
Partnered With World Class Financial and Offtake Partners
Low-Risk
Operational
Profile
Tier 1
Asset
 6-year take-or-pay offtake
agreement with Glencore, the
world’s foremost trader of
vanadium — removes sales
risk, transfers transportation
cost burden and eliminates
need for sales team
 Maracás possesses the world’s highest grade vanadium deposit —
P&P reserve grade of 1.34% V2O5 is over double the industry average
 On track to be one of the lowest cost producers of vanadium once
ramp up and expansion are completed
 Permits are in place to execute a contemplated mine expansion
 Located in Brazil, Maracás benefits from well-defined mining
regulations and excellent infrastructure — low-risk jurisdiction
 Largo currently has a 3-year contract in place with the local
workforce
 Offtake agreement in place with Glencore for 100% of production
Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43 101 Largo has reviewed and approved this information

6. TSXV: LGO
World Class Management Team
6
Name and Title Relevant Experience
Mark Smith
Chief Executive Officer
Years of
Experience
34+
 Experience in finance strategy, financial reporting, internal control and
strategic planning at a variety of multinational mining corporations
Ernest Cleave
Chief Financial Officer 25+
 Mining engineer with expertise in mine optimization and operations —
served as project director of Kinross’ Paracatu mine in Brazil
Mike Mutchler
Chief Operating Officer
33+
 Spent over 20 years as general manager of the Jacobina Gold project
in Bahia State, Brazil for Anglo American, Desert Sun and Yamana Gold
Kurt Menchen
President of
Operations, Brazil
37+
 One of the world’s foremost vanadium experts, having consulted for
and worked on various vanadium projects throughout his career
Les Ford
SVP and Technical
Director, Brazil
40+
 Became involved with Largo at its inception in 2003 and has held
various senior exploration positions throughout the Americas
Andy Campbell
VP, Exploration
35+
 Metallurgical engineer with experience in operating and managing
mining in vanadium, including at Xstrata and Highveld Steel and
Vanadium
Casper Groenewald
Deputy Technical
Director of Operations,
Brazil
20+
 Experience operating, developing and financing mining projects in the
Americas and abroad

7. TSXV: LGO
An Introduction to Vanadium
7Source: Roskill (2014), Vanitec.
What is Vanadium? How is Vanadium Used?
 Small amounts of vanadium added to
steel significantly increase tensile
strength
 Also used in cladding titanium to
steel
 Vanadium pentoxide (V2O5) is used as
a chemical catalyst
Advantages of Vanadium in Steel
 Makes steel stronger, and more
wear/corrosion resistant
 Vanadium can be easily added during
the steel making process
 Vanadium in steel provides
weldability, ductility, elongation, and
good castability
Uses of
Vanadium
Uses in
Steel
 Vanadium is a ductile and malleable
transition metal
 It is harder than most metals and
steels
 It is the most used alloy to strengthen
steel

8. TSXV: LGO
Vanadium is Everywhere
8
 Most effective alloy for
increasing the strength of
reinforcing bars used for
buildings, tunnels, and bridges
Applications Strategic Characteristics
Buildings, bridges,
tunnels
Rail lines, Railway
cars, Cargo containers
Pipelines
Power lines and
Power pylons
Rebar for
construction
Construction
machinery and
equipment
High strength steel
structures
Automotive parts Aviation and
aerospace
Chemical plants, oil refineries,
offshore-platforms
Missiles and defense
Ships
 Natural properties make vanadium alloys
durable in extreme temperature
environments and corrosion resistant
 High-strength vanadium alloys are used
extensively in equipment where abrasion
resistance and toughness are necessary
to operate in unforgiving environments
 High strength-to-weight ratio make
vanadium a vital component in the
manufacturing of automotive and
aviation industries — increases fuel
efficiency and durability
Improves Tensile Strength
Increases Weather Resistance
Limits Regular Wear and Tear
Supports Fuel Efficiency
Source: Vanitec

9. TSXV: LGO
Vanadium Market Overview
9
113 109 109 108 109 110 113 116 119 122 123 124
93 100 103 107
111 114 117 120 123 127 130 135
0
50
100
150
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Supply Demand
(kt vanadium)
 91% of vanadium is used in steel production – highly correlated to gross crude
steel production
 Crude steel production increased at 3.6% CAGR in 2006 – 2014
 However, intensity of vanadium use grew at an 8.0% CAGR over the same time period
Conclusion — Though crude steel production is expected to have a modest CAGR of less than 1%
through 2025, increasing intensity of vanadium use coupled with specific end-use growth drivers
will allow vanadium demand to continue to expand
Source: Roskill (2014), Bloomberg as of September 9, 2015.
Note: Supply and demand projections based on Roskill scenario of $18 - $21/kg equilibrium FeV prices.
Projected Vanadium Supply / Demand Balance

10. TSXV: LGO
Demand for Lightweight Steel
10
Aerospace Delivery Schedule
Growth in Use of High-Strength Steels in Automobiles
462 477
601 648 723 756 759 806 824
510 534
588
626
629 635 669
719 747
0
2
4
6
8
10
12
14
16
18%
0
500
1,000
1,500
2,000
2010 2011 2012 2013 2014 2015 2016 2017 2018
Boeing Airbus % of Total Deliveries
(Aircraft Deliveries) (B-787, A-350 and A-380 as % of Total)
164 188 203 220 233 248 259 274 293 298 312 330 347 36741
47 51
55 58 62 73 77
83 94 99
104
109
116
205
235
254
275 291
310
332
351
376 392
411
434
456
483
0
100
200
300
400
500
600
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Advanced high-strength steel Ultra high-strength steel
(Average Net Pounds per Vehicle)
 Automotive — As fuel efficiency and
emission regulations continue to
tighten, high-strength, low-weight
steels will drive demand for vanadium
 Corporate Average Fuel Economy (CAFE)
standards
 Aerospace — Aircraft usages presently
accounts for 7% of the vanadium
market and is growing rapidly
 Aircraft manufacturers are utilizing higher
amounts of titanium-vanadium alloy in
newer models
 Boeing’s new 787 Dreamliner and Airbus’
A380 and A350XWB models are
comprised of significantly more
vanadium, titanium and aluminum alloys
than their predecessors — 75 – 100+
tonnes per aircraft
Source: Roskill (2014), Steel Market Development Institute, Company disclosures.

11. TSXV: LGO
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
0.02 0.04 0.06 0.08 0.1
China
N.
Am.
China’s Projected Impact on Demand
11Source: Les Ford Vanadium and Steel presentation, PDAC 2010
Source: Roskill 2014
% of Vanadium Used per Tonne of Steel by Region
TotalTonnesbyRegion(V2O5Equiv.)
Projected Impact of China’s
New Rebar Standards
EU
Europe
China
RoA

12. TSXV: LGO
External Pressures to Improve Chinese Rebar
Intensity of Vanadium in Chinese
Rebar to Increase
12
Chinese Standard Improvements
 2008 – China is struck by a series of earthquakes ranging from 4.1 to 7.9 in magnitude, causing
widespread structural damage
 2010 – Chinese government seeks to improve urban safety through use of high-strength rebar in new
construction
 2011 – China announces 12th Five-Year Plan, which includes new standards for rebar reinforcement
 Policy seeks to gradually replace lower-strength rebar with grade 3 rebar – significant increase in
vanadium content
 Increased enforcement of regulations presents an avenue for significant demand growth
 Recent negative attention has been placed on the quality of Chinese rebar exports
 British Standards tests found increased levels of boron in recent imports, making welds more likely
to crack and the supported structures weaker
 Amongst anti-dumping tariffs and quality concerns, China plans to refocus on improving quality rather
than quantity
 Emphasis on high quality steel will require greater quantities of alloy solutes such as vanadium
 Conclusion — internal and external pressures have pushed China to refocus production toward higher
quality steel, driving demand for vanadium and other steel additives
Source: Roskill (2014), Construction Enquirer.

13. TSXV: LGO
0
10,000
20,000
30,000
40,000
50,000
60,000
Other
Supply is Concentrated
13Source: Roskill, 2014 *Tonnage calculated in V2O5 Equivalent
Total Supply 168,332 Tonnes (V2O5 Equiv)
of Global Supply
TonnesV2O5Equiv
Russia
Total Demand 166,012 Tonnes (V2O5 Equiv)
China South Africa
53%
20%
17%
10%

14. TSXV: LGO
Vanadium Historical Pricing
14
Historical floor at $5.00 per lb
$0.00
$5.00
$10.00
$15.00
$20.00
10 Year Vanadium Pricing (per lb V2O5)
$ Price V2O5
10-year low
Source: Metal Bulletin

15. TSXV: LGO
Global Production of Vanadium
15
Co-product (slag) production
Primary Production
Secondary Production
Cost of production per lb V2O5
*The operating costs reported are on a non-GAAP basis. Operating costs reflected are based on a realized BRL/US dollar exchange rate of 3.20.
Includes Royalties, operational SG&A but does not include corporate SG&A or CAPEX
NTD: Prices calculated into V2O5 Equiv
Source: Roskill 2014; TTP Squared/Atlantic, Vanadium Market Outlook
Source: Company information & industry experts
Largo is the only ‘Pure-Play’ producer of vanadium
$3.50$4.50
$6.00
64% of Global Supply is
Produced as a Co-Product
using iron ore that contains
vanadium
$3.91*
(March 2015 Actual)

16. TSXV: LGO
Global Production of Iron Ore
16
China
Brazil
Australia
CIS
India
North America
Africa
Cntrl & Sth America
Europe
Middle East
Other
Source: AME Group
Source: Cowen & Co., Morning note April 8, 2016
Source: Cost of regional production approximate based on data from - CRU ltd, Morgan Stanley, zerohedge.com, Wood mackenzie, Iron Ore
Cost Service
 China is the largest producer of vanadium as a co-product
from iron ore containing vanadium
China is losing market share
due to high cost of production
Global Production of Iron Ore
$40
$35
$125
Cost of production US/t (fob)
$50
$60

17. TSXV: LGO
Maracás Location Highlights
17
 Government and local support
 Arid climate and suitable topography
 Management with experience in region
 Strong tax incentive program
 Local familiarity with mining
 Excellent infrastructure in place
LocationHighlights

18. TSXV: LGO
Concessions and Mineralization
= Campbell Pit (first 12 Years)
Maracás concessions
and strike length
18
29 year life of mine
Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43 101 Largo has reviewed and approved this
information

19. TSXV: LGO
0 10 20 30 40Million Tonnes
Proven & Probable
Measured & Indicated
Inferred
1.34% V2O5
1.11% V2O5
13.1 Million Tonnes
0.83% V2O5
Mineral Resources
19
+2 Times Industry Average Grade
30.4 Million Tonnes
24.6 Million Tonnes
Campbell Pit
Satellite Deposits
Contained within
Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved the technical
information
Mineral Reserves (Proven & Probable Resources) for the Maracas Project as calculated in: Technical Report of the Feasibility Study for the Maracás
Vanadium Project, Brazil, dated May 2009 and filed on SEDAR on June 1, 2009. Reserve estimates are based on a price for contained vanadium in
ferro vanadium of USD 23.08/kg. Mine planning was based on a USD 5.00 pit shell and cutoff grade of 0.45%
Mineral Resources for the Maracas Project as calculated in: Preliminary Economic Assessment of the Maracás Vanadium Project, 1.4 Million Tonnes
per Year Processing Plant, dated and filed on SEDAR March 4, 2013.
Mineral Resources contained within the Campbell Pit (previously called Gulcari “A” utilize an open pit model using USD 34.20/t all in operating costs
and reported at a 0.45% V2O5 cut-off.
Inferred Resources at various “satellite” deposits calculated within a pit shell using USD 34.20/t all in operating cost and reported at a 0.45% V2O5
cut-off.
Resource Estimates that are not Mineral Reserves do not have demonstrable economic viability.

20. TSXV: LGO
0.0 1.0 2.0 3.0 4.0
Concentrate
SiO2%
Concentrate
V2O5%OreV2O5%
Maracas South African
Cost Advantage
20
Highest Grade/Quality Vanadium Deposit in the World
Higher head-grade
and higher iron
content
Concentrate has
much higher V2O5
Concentrate has fewer
contaminants like silica
Low Cost Production
% % % % %
Mr. Robert Campbell, Vice President of Exploration and Michael Mutchler, Chief Operating Officer to Largo, both Qualified Persons as
defined by NI 43-101 have reviewed and approved the technical information.

21. TSXV: LGO
Campbell Pit Cross Section
21Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved this
information.

22. TSXV: LGO
0
10
20
30
40
50
60
70
80
90
100
110
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2015 Ramp-up Target
22
%PlantCapacity
Month
Ramp-up target capacity
Mr. Michael Mutchler, Chief Operating Officer to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved the technical
information.
Actual Production
Milestones
$3.91 per/lb March Actual
cost*
Record daily production at
110% capacity
Record monthly
production at 75% capacity
11 Days at 87% capacity
$
*The operating costs reported are on a non-GAAP basis. Operating costs reflected are based on a realized BRL/US dollar exchange rate of 3.20.
Includes Royalties, operational SG&A but does not include corporate SG&A or CAPEX
$

23. TSXV: LGO
2015 Production Guidance
23
Average Production
(High/Low Range)
Operating
Costs (/Lb)(i)
Year End Exit
Cost (/Lb) (i)
2015
6,500 tonnes
~17.3 million lbs
$4.50 $3.60
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2015
Cost/lb
TonnesV2O5
Production Guidance
Annual Avg. Cost (/Lb)
Year End Cost (/Lb)
 Continue to increase production
rates
 Achieve Phase 1 annual target
capacity in Q4
 Focus on production/operating
expense optimization projects
already underway
2015 Objectives
(i) Reported operating costs for the Maracas Mine include all royalties, SG&A, sales commissions but excludes CAPEX. The
operating costs reported are on a non-GAAP basis. Operating costs reflected are based on the average of the high/low production
rates and on a BRL/US exchange rate of 3.20.
Mr. Michael Mutchler, Chief Operating Officer to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved the technical
information.

24. TSXV: LGO
Investment Summary
 Management with expertise
 Commodity with strong growth profile
 Only ‘pure-play’ exposure to vanadium
 Ramping up production
 High grade, low cost production project
 Commercial shipments ongoing
24
Substantially de-risked flagship project with near term cash flow
Vanadium Producer
With Tier-1 Asset
Project as at November 19, 2013Project as at December 26, 2013Project as at February 20, 2013

25. TSXV: LGO 2525
Darcie Ladd
Vice President, Investor
Relations
dladd@largoresources.com
416-861-9406
Mark Smith
President and CEO
msmith@largoresources.com
416-861-9797LARGORESOURCES.COM
Largo Resources
LargoResources1
Largo Resources
largoresources

26. TSXV: LGO
Appendix
 Photos
 Board of Directors
 Maracas Mining
 Process Flow
 PGM/Chrome Potential
 Secondary Projects
 Currais Novos
 Northern Dancer
 Campo Alegre de Lourdes
26

27. TSXV: LGO 27

28. TSXV: LGO
Appendix: Strong Board
28
Alberto Arias Director Founder & President Arias Resource Capital
David Brace Director CEO of Karmin Exploration. Formerly with Aur
Resources
Wayne Egan Director Partner at WeirFoulds LLP
Koko Yamamoto Director Partner at McGovern, Hurley, Cunningham
L.L.P.
Sam Abraham Director Vice President, Arias Resource Capital
Daniel Tellechea Director Former President & CEO of Sierra Metals and
ASARCO L.L.C.
Independent board with breadth of expertise

29. TSXV: LGO
Simple, Low Cost Mining
29
150 meters
Magnetite
(ore)
Gabbro (waste)
Mining operations in 2014

30. TSXV: LGO
Maracás Processing Flow Chart
30
 Processing circuit currently undergoing optimization — potential to increase production beyond nameplate
capacity through process improvements alone
Flow Chart Process Improvements
Targeted Areas
for Optimization
• Largo is in the process of
optimizing its processing circuit
to reach nameplate capacity,
with multiple initiatives to be
completed by December
• 26.4 tpd by year end 2015
• 28.6 tpd by mid- 2016
• Addition of new leach tank, belt
filter, pan conveyor and
agitators will substantially
increase daily production rates
via improved recoveries
• New bank of 2-drum wet mag
separators are ready for
installation — [improves
separation efficiency]
• Installation of larger feed
screws will alleviate minor
bottlenecks throughout the
circuit, boosting throughput

31. TSXV: LGO
Potential Chrome/PGM Discovery
31
 Chromite and PGMs are often associated in ultra-
mafic rocks like the ones discovered near the Maracas
Menchen Mine
 This discovery potentially resembles deposits like
those in the Bushveld region of South Africa which
produces a significant amount of the world’s chrome,
PGMs and vanadium
 Potential new discovery of chrome and PGMs
located North of current mine area
 Chromite layers trace 3km strike with at least
two zones of chromite layers 20 to 25 metres
wide at surface with fine-grained sulphides
that potentially contain platinum
 Exploration program underway, initial results
pending
Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved this
information

32. TSXV: LGO
Maracás Environment
32
Project as at December 11, 2013

33. TSXV: LGO
The Ford Facility at Maracás
33
Project as at February 20, 2013

34. TSXV: LGO
Recent Photos
34
Crushing System Milling System
Roasting System (Kiln/Cooler)

35. TSXV: LGO
Secondary Projects
35
Currais Novos
Region: Brazil
Metal: Tungsten
Stage: Care & Maintenance
Campo Alegre
Region: Brazil
Metal: V, Ti, Fe
Stage: Exploration
Northern Dancer
Region: Yukon, Canada
Metal: Tungsten
Stage: PEA Complete

36. TSXV: LGO
Appendix: Currais Novos
 Historical production district
 Significant production from 1940s to 1970s
(approx 8% of global supply)
 Production Commenced December 2011
 Plant optimization continued through 2012
 Production suspended due to severe
regional drought in 2013
36
Operational History:

37. TSXV: LGO 37
Appendix: Campo Alegre Project
 100% owned iron, titanium, and vanadium
deposit - seven concessions covering 9,274.66
hectares
 Purchased in 2009 for USD $250,000.00 from
Bahia State Mining Development Agency
(CBPM)
 Preliminary metallurgical testwork completed in
2011 suggested potential for titanium dioxide
(TiO2) project

38. TSXV: LGO 38
Appendix: Northern Dancer Project
 223.4 MT grading 0.102% WO3 and
0.029% Mo (M&I)
 Higher-grade tungsten and molybdenum
zone: 60.3 MT of 0.14% WO3 and 0.045% Mo
(M&I)
 201.2 MT grading 0.09% WO3 and
0.024% Mo (I)
 PEA complete
 Discussions with off-take partners and
JV partner
Development Milestones
Mineral Resources*
Notes: Resource classification categories in accordance with the CIM (2005) Standards on
Mineral Resources and Reserves referred to in NI 43-101. Mineral resources that are not
reserves do not have demonstrated economic viability.
*Resource calculation based on the Preliminary Economic Assessment (the “PEA”) on the
Northern Dancer Project, Yukon, Canada Largo Resources Limited dated March 28, 2011 and filed
on SEDAR April 7, 2011.
The PEA is preliminary in nature, and includes inferred resources that are too speculative
geologically to have economic considerations applied to them. There is no certainty that the
PEA will be realized.
Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved this
information