Mr. Robert Campbell reports

INITIAL GRAB SAMPLES CONFIRM HIGH-GRADE CHROMITE AND PGM SHOWINGS AT CAPIVARA PROSPECT IN BAHIA STATE, BRAZIL

Largo Resources Ltd. has released the results from initial grab samples as part of a continuing exploration program at its Capivara prospect, which is located in the Maracas region of Bahia state, Brazil. The initial 12 grab samples were collected from surface over the prospective area described further herein. Samples were analyzed by both SGS Canada Inc. (eight samples), Lakefield, Ont., and ALS Mineral Division (four samples), Vancouver, B.C. The results were as follows:

• Chromite reporting as Cr2O3 ranging from 30.04 to 41.68 per cent;
• Platinum values reported as ppb (parts per billion) ranging from 110 to 2,500.

Largo has recently announced the discovery of this new chromite showing on its Capivara (see press release dated Nov. 10, 2014). The Capivara prospect lies 32 kilometres north of the Campbell pit at the Maracas Menchen mine.

Currently a gravity survey has begun over the prospective area to identify targets for further evaluation and drill testing. The prospective area, which includes the chromite layers, has been traced over an area of three kilometres (north-south) by 0.5 kilometre (east-west). There are at least two zones of chromite layers from 20 to 25 metres wide. These zones lay 400 metres west of the magnetite horizon that contains vanadium and anomalous platinum.

Robert Campbell, PGeo, vice-president of exploration to Largo, commented, "We continue to be encouraged by the results and intend to complete further work, including drilling in the near term, to delineate this prospective area."

Quality assurance and quality control

The potential quantity and grade are conceptual in nature at this stage, and additional work will be required to define any mineral resource. The data verification and analytical work for the results herein were carried out by SGS Canada in Lakefield, Ont., Canada, and ALS Mineral Division, Brazil. The scientific and technical information in this press release has been reviewed and approved by Mr. Campbell, PGeo, vice-president of exploration to Largo, a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.