$$42cents auf 3 €.MOLYBDÄN! U.Pfauntsch-Rakete$$

The Agents were entitled to a commission of 6.0% of the gross proceeds raised pursuant to the Offering, which amounted to approximately $600,599. The Agents elected to receive $162,100 of this commission in cash and the remainder in the form of 797,270 commission units (the "Commission Units") at a prescribed value of $0.55 per Commission Unit. The Commission Units have identical terms as the Units. The Agents also received 1,091,997 compensation options (the "Compensation Options") equal to 6.0% of the number of Units issued in connection with the Offering. Each Compensation Option entitles the Agents to purchase one additional common share of the Company at a price of $0.65 per common share for a period of 18 months following the closing date of the Offering.

The net proceeds raised in the Offering will be used to further explore the Company's Northern Dancer Tungsten-Molybdenum deposit in the Yukon and the Maracas Vanadium-PGM deposit in Brazil.

About Largo Resources

Largo Resources is a Canadian natural resource development and exploration company. Largo holds interests in the Northern Dancer Tungsten-Molybdenum deposit in the Yukon and in the Maracas Vanadium-PGM deposit in Brazil. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador; one of which, the 5,000 hectare Macuchi property, is under option to Aur Resources Inc. The company is listed on the TSX Venture Exchange under the symbol LGO. For more information please refer to Largo's website: www.largoresources.com.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

All 10 additional holes sampled returned significant PGM values ranging between 0.42g/t and 1.13g/t over intervals varying in true thickness between 9.00 and 32.00 metres. Individual 1.0 metre sample intervals returned values as high as 4.24 g Pt/t.

Largo is also pleased to announce that Dr. Reid Keays has been retained to review and assist in the evaluation of the platinum and palladium mineralization at Maracas. Dr. Keays is a well known expert in platinum group element (PGE) geochemistry and the development of genetic models and exploration techniques for Ni-Cu-PGE sulphide deposits. He has worked on a wide range of ore deposits including platiniferous PGE horizons in the Bushveld, Stillwater and Great Dyke layered complexes, Ni-Cu-PGE mineralization associated with komatiites (Kambalda, Cape Smith Fold Belt) and the giant Sudbury (Canada) and Noril'sk Ni-Cu-PGE camps. Dr. Keays will be making an initial trip to the Maracas project in May.

As previously reported, platinum group metals values from the original due diligence program of a total of 123 samples in 8 drill holes indicate that in the magnetite-rich zone, PGM's average between 0.52g/t and 1.24g/t over widths of 4.00 metres to 20.00 metres with a Pt:Pd ratio of 4:1. The highest PGM values found thus far correlate with the high-grade vanadium-magnetite zone.

Andy Campbell, P.Geo., Vice President, Exploration commented: "The PGM results continue to be very significant and with a very high platinum-palladium ratio. Once all the sample results are received we will have sufficient data to allow estimation of a PGM resource for the deposit. We are also very pleased to have Dr. Keays assisting us in further evaluating the PGM's at Maracas. It is very possible that the PGM's may have been re-distributed from an original sulphide melt by a later stage hydrothermal event. If this is the case, there could be excellent potential for other areas of significant PGM mineralization; we have initiated petrographic and microprobe work to better understand the nature of the PGM mineralization and provide criteria to aid further exploration."

The Maracas deposit is hosted within lower sequence of gabbros and pyroxenites of the 2.64 billion-year-old, Jacare River mafic-ultramafic intrusion. This sheetlike linear intrusion extends for 70 kilometres along a north-south strike averaging about 1.2 kilometre in width. There are a number of striking similarities to the Great Dyke including age, rock types, platinum and palladium ratio and style of intrusion as well as host rock that it intrudes. The PGMs found thus far are associated with disseminated to massive bodies of titano-magnetite in pyroxenites. This massive, titano-magnetite mineralization at Maracas ranges from 2.0 to 90 metres in thickness with an average true width of 25 metres.

Analytical work was carried out by SGS Minerals in Belo Horizonte, Brazil. Platinum and palladium values were determined by fire assay technique with an ICP finish using a 30 gram-sample. Andy Campbell, M.Sc., P. Geo., Largo's Vice President of Exploration, is the Qualified Person responsible for the scientific and technical work for the program as defined under National Instrument 43-101.

About Largo

Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Northern Dancer Tungsten-Molybdenum deposit in the Yukon and the Maracas Vanadium-PGM deposit in Brazil. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador; one of which, the 5,000 hectare Macuchi property, is under option to Aur Resources Inc. The company is listed on the TSX Venture Exchange under the symbol LGO.

Disclaimer

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".



Table 1: Summary of Significant Assay Results - Maracas Property, Brazil
-------------------------------------------------- Pt + Pd IntervalHole Number From To Pt (g/t) Pd (g/t) (g/t) (metres)--------------------------------------------------FGA10 70.50 100.00 0.44 0.06 0.50 29.50FGA16 121.00 131.29 0.31 0.18 0.48 10.29FGA23 46.00 55.00 0.86 0.42 1.28 9.00 Including 46.00 50.00 1.14 0.64 1.78 4.00FGA25 46.00 65.00 0.74 0.11 0.85 19.00FGA37 98.00 108.00 0.54 0.25 0.79 10.00FGA42 105.90 116.00 0.39 0.03 0.42 10.10FGA43 96.00 105.00 1.08 0.05 1.13 9.00 Including 101.00 105.00 1.73 0.07 1.80 4.00FGA48 47.00 79.00 0.34 0.18 0.52 32.00FGA51 124.00 136.00 0.35 0.27 0.62 12.00FGA54 96.00 112.00 0.26 0.21 0.47 16.00--------------------------------------------------
All holes are shallow depth (less than 100 metres) and the reported intervals reflect true thickness. Core size is BQ.
Table 2: Collar Coordinates and Orientation of Diamond Drill Holes
--------------------------------------------------Hole Number Northing Easting Elevation Azimuth Dip--------------------------------------------------FGA10 8,486,183 318,332 307.01 284 degrees -59 degrees--------------------------------------------------FGA16 8,486,071 318,251 304.76 284 degrees -60 degrees--------------------------------------------------FGA23 8,486,160 318,236 314.84 108 degrees -78 degrees--------------------------------------------------FGA25 8,486,165 318,293 311.13 284 degrees -44 degrees--------------------------------------------------FGA37 8,486,098 318,319 302.07 292 degrees -50 degrees--------------------------------------------------FGA42 8,486,162 318,390 295.75 284 degrees -60 degrees--------------------------------------------------FGA43 8,486,108 318,372 295.71 286 degrees -70 degrees--------------------------------------------------FGA48 8,486,058 318,300 298.45 293 degrees -50 degrees--------------------------------------------------FGA51 8,486,033 318,355 298.00 296 degrees -50 degrees--------------------------------------------------FGA54 8,486,113 318,345 295.93 288 degrees -50 degrees--------------------------------------------------




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CONTACT INFORMATION
Largo Resources Ltd.
Mark Brennan
President & CEO
(416) 861-5886
Email: mbrennan@largoresources.com

or

Largo Resources Ltd.
Tony LaMantia
Corporate Development
(416) 861-5882
Email: tlamantia@largoresources.com
Website: www.largoresources.com