Mr. Mark Brennan reports

LARGO RENAMES MARACAS PROJECT, PROCESSING FACILITY AND DEPOSIT

Largo Resources Ltd. will rename the Maracas project, the processing facility and the Gulcari A deposit to honour key members of Largo's management team who have been critical in driving the Maracas project's success.

The Maracas vanadium project will be renamed the Vanadio de Maracas Menchen mine in honour of Kurt Menchen, Largo's president of Brazilian operations.

Mr. Menchen is a mining engineer with over 30 years of experience operating and managing mining projects in Brazil.

Mr. Menchen joined Largo in 2006, and has been integral in every aspect of the project's development since the initial acquisition, through to production, including technical studies, licensing, financing, construction, community and government relations, as well as overseeing the company's general operations throughout his tenure.

The processing facility at the project will be named the Ford facility to recognize the significant contribution of Les Ford, Largo's senior vice-president and technical director of Brazilian operations.

Mr. Ford is one of the world's foremost experts in the processing of vanadium, with over 40 years of experience in the field.

Mr. Ford initially became involved with the project when he was brought in as a consultant during the technical review process for the definitive feasibility study for the project in 2008. Recognizing the significant potential of the project, Mr. Ford officially joined Largo full-time in 2010, and has been the principal technical expert for the project's metallurgy, process design, construction, commissioning and production.

The Gulcari A deposit will today likewise be renamed the Campbell pit to recognize the contribution of Andy Campbell, Largo's vice-president of exploration.

Mr. Campbell is an exploration geologist with over 30 years of experience. Joining Largo in 2003, he is the longest-serving member of Largo's team. Mr. Campbell has played a critical role in the project through defining the geology of the deposit, from its first resource estimate in 2007, through the reserve estimate for the feasibility study in 2008, and to the discovery and initial drilling of additional satellite deposits as defined in 2012, and now the mining of the deposit in 2014.

Mark Brennan, president and chief executive officer, stated, "I think it is only appropriate, following the announcement of first production, to distinguish the contributions of these three members of our technical team who have been fundamental to the success of Largo Resources."

He continued: "I would further like to congratulate everyone on our team for the diligence and hard work they have committed to the project over the years and particularly during the past several months. The construction, commissioning and ongoing ramp-up process at Maracas has certainly been demanding on us all, and I believe everyone at Largo should be extremely proud of our success."

Michael Mutchler, chief operating officer of Largo and a qualified person under National Instrument 43-101, has reviewed and approved the contents of this press release.

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