Mr. Paulo Misk reports

LARGO RESOURCES ANNOUNCES EXTENSION OF ITS BRAZILIAN TAX INCENTIVE TO 2028

Largo Resources Ltd. has renewed its Superintendencia do Desenvolvimento do Nordeste (Sudene) tax incentive, which extends the company's current tax rate of 15.25 per cent to December, 2028.

The company's current Sudene tax incentive reduces its effective tax rate from 34.0 per cent to 15.25 per cent, and was granted in January, 2015, for a period of 10 years on annual production of 9,636 tonnes of vanadium pentoxide (V2O5). Under the renewed incentive, the company's current tax rate has been extended to December, 2028, including the calendar year of 2019, and applies to the production of up to 13,260 tonnes of V2O5 per year. In accordance with the Sudene tax incentive, the company can apply for additional extensions within 12 months of the expiry date following continued investment in the regional areas of northeast Brazil.

Paulo Misk, president and chief executive officer of Largo, stated: "Largo remains very committed to the economic development in the local and regional areas of northeast Brazil. We continue to make material investments, which result in significant direct and indirect employment generation in these areas. We are very proud of our contributions to date, and will continue to operate in a manner that supports local culture and identity, while strengthening socioeconomic development for years to come."

About Largo Resources Ltd.

Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high-purity vanadium flake and high-purity vanadium powder at the Maracas Menchen mine, located in Bahia state, Brazil.

We seek Safe Harbor.