www.largoresources.com

An Emerging Market Leader

for VANADIUM and TUNGSTEN Production

PDAC

March, 2012

CORPORATE PRESENTATION

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 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.

2

Company Overview

Positioned to be a leading player in the primary production of vanadium

Highest grade, highest quality vanadium deposit in the world

Potential lowest cost producer of vanadium (US$14 kg vs industry avg. of US$23 kg

FeV)

Near-term producer; estimated $75+ million cash flow per annum

Significant expansion potential

Potential to be a leading non-Chinese producer of tungsten

Two potential low-cost operating mines

Largest undeveloped tungsten-moly deposit in the world

Near-term production; $8+ million cash flow per annum

Surging commodity price

3

Focused Portfolio of Strategic Mineral Assets

4

Company Overview

Target Production Date Estimated Approx. Cash Flow

August 2011: Currais Novos (Funded)

$8+ million per annum

2nd Quarter 2013: Maracas (Equity funded; debt confirmed)

$75+ million per annum

March 2017: Northern Dancer $200+ million per annum

$280+ million per annum

Estimated Production Profile – 5 Year Projection

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 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.

Capital Structure

5

Stock symbol: LGO – TSX-V

Share price (February, 2011): $0.30

Shares issued (Basic): 465 million

Management & Institutions: 75%

52-week High/Low: $0.51 / $0.22

Market cap (Basic): C$139 million

Subscription receipts: 211 million

Warrants & Options: 62 million

Debt: $4 million

Shareholders and Partners

6

Project Partners

Glencore International 100% Take-or-pay off-take agreement for Maracas vanadium project

Major Tungsten End User 100% off-take agreement for Currais Novos tungsten project

Institutional Shareholders

Mackenzie Investments-14%

Arias Resource Capital-10%

Eton Park Capital Management-10%

Ashmore Investment Management-10%

Mark Brennan, President & CEO

Founding member of Desert Sun Mining with over 20 years financing experience in North America and Europe. Founder and

Principal of Linear Capital, Brasoil Corporation, Castle Resources, James Bay Resources, Morumbi Oil & Gas and former President,

CEO and Chairman of Admiral Bay Resources.

Tim Mann, P.Eng., Chief Operating Officer

Mining Engineer with extensive international operations and management experience in mine engineering, development and

operations with SNC Lavalin, Placer Dome and Goldcorp.

Andy Campbell, M.Sc., P.Geo., Vice President Exploration

Over 33 years experience in mining and exploration, including LAC Minerals and Noranda.

Kurt Menchen, General Manager, Brazil

Former Jacobina Mine Manager, Brazil. Mining Engineer with over 30 years experience including Anglo Gold and Desert Sun

Mining.

Les Ford, Technical Director of Brazilian Operations

With over 40 years of experience in constructing, developing and producing vanadium projects, Mr. Ford is arguably one of the

world’s foremost experts in vanadium. Previously Assistant General Manager of Highveld Steel and a member of the Highveld

Executive Committee, and Managing Director of Rand Mines Vansa.

Rodrigo Costa, Operations Director

Most recently Metallurgy Manager with a major mining company in Brazil. His previous experience includes commissioning and

constructing mines as well as acting as General Manager with one of Brazil's largest private mining companies.

Kevin Brewer, P.Geo., General Manager – Northern Dancer Project

Geologist with over 20 years of mining and exploration experience, combined with extensive knowledge of regulatory and

environmental assessment processes.

John Laurie, C.G.A., Chief Financial Officer

Over 20 years of accounting and financial management experience.

Experienced Management Team

7

Mauro Silva Electrical Engineer

Mauricio Coletti Mining Engineer

Rodrigo Costa Director of Operations

Israel Nonato Senior Exploration Geologist

Kurt Menchen General Manager

Carlos Lorenzo Environmental Geologist

Les Ford Technical Director of Operations

Eldes Bittencourt Geologist

Management Breakdown

Main Office Location

Mike Henderson Geologist

Mark Brennan President & CEO

Tim Mann, P.Eng. Chief Operating Officer

Robert Campbell, P.Geo. VP Exploration

Kevin Brewer General Manager, Yukon

Brazil

Toronto

Yukon

8

Donald Clarke Mining Engineer

Douglas Herbst Mining Engineer

Ken Kuchling VP Engineering

John Laurie Chief Financial Officer

Darcie Ladd Manager, Business Development

Stan Bharti, P.Eng., Chairman

Over 25 years experience in operations, public markets and finance. Has raised over $5 billion in the last decade. Former Founder

and Chairman of Desert Sun Mining.

Mark Brennan, President/CEO and Director

Founding member of Desert Sun Mining with over 20 years financing experience in North America and Europe. Founder and

Principal of Linear Capital, Brasoil Corporation, James Bay Resources, and Morumbi Oil & Gas and former President, CEO and

Chairman of Admiral Bay Resources.

Dirk Donath, Director

Senior Managing Director and Partner at Eton Park Capital Management, responsible for Eton Park’s private equity and direct

investment activities in emerging markets. Eton Park is a global, multi-disciplinary investment fund with a capital base of over

US$14 billion.

Dan Ioschpe, Director

Mr. Ioschpe is currently Chief Executive Officer of Lopche-Maxion, an international company operating in the automotive and railroad sectors..

Alberto Arias, Director

Founder and President of Arias Resource Capital Management. He worked for Goldman Sachs & Co and was ranked for five

consecutive years as the #1 Equity Research Analyst for the metals and mining industry in Latin America. Prior to Goldman Sachs,

he worked at UBS as Executive Director and Analyst covering the Latin American mining sector.

Mike Hoffman, P.Eng., Director

Professional mining engineer with over 25 years experience; former Vice President at Yamana Gold and Desert Sun Mining.

William Clarke, Director

Former Ambassador to Brazil and Sweden. Former Advisor to Desert Sun Mining.

Strong Board of Directors

9

Vanadium

Strategic metal with highest strength to weight ratio of any

engineering material

World production of approximately 60,000 tonnes growing at 4-

5% per year between 2012 and 2015*

China increasing usage in steel

New product offerings

Main commercial use: steel industry

Small amount of vanadium enhances the strength of steel alloys

and increases corrosion and abrasive resistance

*Roskill Information Services Ltd. 10

*Source: CRU, Vanadium Outlook

Steel Industry: 90% Vanadium End Use

Carbon steel 36%

High strength low alloys 22%

Stainless/tool 9%

Full alloy 20%

Ferro-vanadium (FeV) Used in High Performance Steels for:

Construction (building frames, bridges, etc.)

Ship construction

Structural applications

Airplanes

Automobiles and parts

Railways & railcars

Tools

Vanadium Uses: Steel Drives Demand

11

Vanadium Redox Storage Batteries

Vanadium Uses: Growth in Green Technologies

Vanadium has shown to increase the

effectiveness of energy storage in traditional

batteries

Mass amounts of energy can be stored

longer and batteries can be re-charged faster

Low-cost, low-volatility, high-performance

batteries

Vanadiu

m A

dvanta

ges

Sto

rage A

pplic

ations

Wind turbines

Solar panels

Backup electrical systems

Hybrid/electric cars

Source: USGS, Byron Capital Markets

Vanadium redox storage batteries are the potential solution to green energy’s storage issues.

12

Voltage with Different Cathodes (v)

4.8

4.1 4.0 3.7 3.6

3.3

Li3V2(PO4)3 LiVPO4F LiMn2O4 LiCoO2 Li2FePO4F LiFePO4

Photo Courtesy of Tesla Motors

Vanadium Uses: Growth in Green Technologies

Vanadium phosphate cathode material can

support 20% more energy storage than

cobalt oxide, 26% more than iron phosphate

and 56% more than manganese oxide,

solving the issue of quick discharge in

electric cars

Highest voltages measured, generating a

more powerful battery

Vana

diu

m

Ad

va

nta

ge

s

Lithium Vanadium Electric Car

The potential demand for electric cars can substantially increase the demand for lithium-ion batteries with cathodes compounded by vanadium.

Source: USGS, Byron Capital Markets 13

Tungsten Uses: Supply Constraints Drive Pricing

Strategic metal with highest melting point of all metals

Main commercial use: steel industry

Heavy equipment and machinery automotive, drilling, electronics,

construction materials & pipelines

Market dominated by China China produces 90% of

global supply

Tight export restrictions

Chinese supply dwindling

Surging commodity price

14 Source: Roskill: Tungsten Market Outlook

*

Near-Term Cash Flow

Vanadium [V]

Maracas: Highest grade/quality vanadium deposit

90% ownership

Production Q2 2013: 5,000 TPA V2O5 (cost <$13)

Approximate cash flow: $75+ million per annum

Tungsten [W]

Currais Novos: Near-term, low-cost production

100% ownership

1.5 million pounds per annum Commercial Production announced in

December 2011 (cost <$59 MTU)

Approximate targeted cash flow: $700,000 per month ($400 MTU APT)

Two Advanced-Stage Projects with Potential to Expand

15

Maracás Vanadium Project

16

Maracás Resource Estimate

Mineral Reserve: 13.1 million tonnes grading

1.34% vanadium pentoxide (V2O5)

Includes 8.7 million tonnes grading 1.94%

vanadium pentoxide (V2O5)

Mineral Resource: 23.2 million tonnes grading

1.27% vanadium pentoxide (V2O5) (M&I)

Near-Term Production – Summer 2013

5,000 tonnes Fe-V annual production

Lowest cost producer (less than $13 kg Fe-V)

23-year production plan

1.94% V2O5 mill feed during first eight years

Open pit: low strip ratio of 2.23:1

Mill throughput 1,600 tpd

Proven mining technology and processes

Six-year off-take with Glencore (take or pay)

Good local infrastructure

208,000 ounces 0.75g/t platinum/palladium

Maracas: Concentrate Quality

Deposit Characteristics

Vanadium is contained in magnetite with a

higher iron content than others

Better recoveries, less power required, less

chemicals

concentrate with much higher V2O5, higher

Fe, and lower SiO2 (contaminant) than any

other deposit

LOWEST COST PRODUCTION

*Average grade comparisons compiled by Les Ford, presentation March 8, 2011 17

Highest Grade/Quality Vanadium Deposit in the World

=

=

=

Largo – Comparative Landscape

Ore Quality* Concentrate Quality*

* Average grade comparisons compiled by Les Ford, presentation March 8, 2011 18

Ore V2O5% Concentrate

SiO2%

Concentrate

V2O5%

Concentrate

V2O5%

SiO2% in

Concentrate

V2O5:SiO2

Ratio

Gulcari “A” Deposit Detail

Maracás concessions

and strike length

Maracás Resource and Property Maps

19

8km

Gulcari “A” Potential to Expand

Location of Gulcari “A” and proposed open pit

(400 m x 150 m)

Present NI 43-101

Resource

was defined solely

on Gulcari “A” deposit

11,000 Meter Drill Program

Completed Q1 2012

Target to double existing

mineral resource – new

resource expected for Q2 2012

Extend Glucari “A” deposit

along strike and at depth

Multiple high priority targets

have returned positive high-

grade drill results

20

(5,000 Tonne Per Annum Scenario) + 200,000 tonnes of low

grade iron bi-product

Maracás: Current Operating Parameters

Recent ferrovanadium price US$28.00 per kg (FeV)

Average cash operating costs US$12.89 per kg (FeV)

Average pre-tax cash flow US$75.6 million per year

Initial Capex US$240 million

Payback 3.2 years

21

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 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.

projection

Maracas Cash Flow Projections

Maracas: Catalysts for Growth

Year 1 = Current production parameters

Year 2 = Sale of tailings material (pig-iron)

Years 4+ = 50% increase in production capacity

22

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 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.

•Projections assumes FeV pricing of $2800 per Kg

Maracás Milestones to Production

2012 Milestones to Cash-Flow

Project equity financing – Complete – Announced April 11, 2011

Basic engineering – Complete

Installation License – Complete – Received November 2011

Project debt financing – Confirmed – Funds Anticipated by April 2012

Equipment purchase – Underway & Ongoing

Construction – To Commence Q2, 2012

Production – To Commence summer 2013

23

Currais Novos: Summary Highlights

24

Short-Term Target of 1.5 Million Pounds

of WO3 per Year

Commercial Production Announced

December 2011

$8+ million per annum cash flow

Reprocessing and recovery of tungsten

from two tailing piles

To produce1.5 million pounds per year:

65,000 MTUs

Low cost producer (less than $60

per MTU)

4.3 million tonne NI 43-101 Resource

Off-take agreement for 100% of

production for four years

Currais Novos: Potential to Expand

Historical production district

Significant production from 1940s to 1970s

Numerous potential acquisitions in

immediate vicinity – both underground and

tailings

Provides significant expansion potential

Exploration underway with goal of defining

additional resources

25

Exploration has Commenced at Four Additional & Highly Prospective Properties

Currais Novos Cash Flow Projections

Currais Novos: Catalysts for Growth

Year 2 = Current production parameters

Year 4+ = following 3 year exploration ramp-up on

recently acquired additional underground properties

* Projections assumes exploration success on aditional properties ramp up

26

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 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.

projection

Long-Term Growth

Tungsten [W]

Northern Dancer: Largest undeveloped Tungsten deposit

100% owned

2011 PEA: 27.8% IRR & $1.8 billion NPV @ 8% ($365 MTU APT –

Current APT price: $440 MTU)

Vanadium/Titanium Dioxide [V]

Campo Alegre: Titanium, iron, vanadium deposit/high grade

100% owned

133 million tonnes (Non NI 43-101 compliant) @ 0.75% V2O5, 50% Fe,

21% Ti

Potential 1.5 billion tonnes

Two Early-Stage Projects with Tremendous Potential to Add Value

27

28

Northern Dancer Project

Northern Dancer Resource Estimate

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)

Development Milestones

PEA complete

Pre-feasibility underway

Environmental permitting under way

Discussions with off-take partners and

JV partner

Northern Dancer: PEA Highlights

Highlights*

Positive NPV of US$918 million at $275 MTU APT and an 8% discount rate

Current trading price of US$465 MTU

Low cash cost producer: US$116 per MTU

Cumulative cash flow US$4.8 billion

Average annual production of 833,000 MTU tungsten (18.3 million pounds)

Average annual production of 5,959,000 pounds molybdenum over initial 23 years

Pre-production capital costs: $645 million

Tungsten

(US$ per MTU)

Molybdenum

(US$ per lb) IRR (%)

NPV @ 8%

(US$ millions)

$275 $17.50 20.0 918

$300 $17.50 22.2 1,110

$325 $17.50 24.4 1,302

$350 $17.50 26.5 1,494

$365 $17.50 27.8 1,769

* 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. 29

30

Northern Dancer: Highlights

IRR and NPV’s at Higher Tungsten Price Points*

* Derived from PEA sensitivity analysis

Tungsten

(US$ per MTU)

Molybdenum

(US$ per lb) IRR (%)

NPV @ 8%

(US$ millions)

$400 $17.50 31.0 2,074

$450 $17.50 35.0 2,500

* ** Roskill: Tungsten Market Outlook, 2012

**

31

Campo Alegre Project

Non NI 43-101 Compliant Resource:

133 Million Tonnes Grading 50% Fe,

21% TiO2, 0.75% V2O5*

100% owned iron, titanium, and vanadium

deposit

650 kilometres northwest of Salvador

Excellent access and infrastructure

Seven concessions covering 9,274.66 hectares

24 kilometres by 5.5 kilometres

Location Highlights

Located in mining-friendly and politically stable

Brazil

Two railway lines in development within

140 kilometres with direct access to major

ports

Several major iron-ore projects in vicinity * Historical resource provided by CBPM (Bahia State Mining Development Agency)

14 km x 2.5 km trend

Multiple mag-targets

Historical drill program

only tested to 60 m

Potential expansion at

depth

Mag-survey indicates

fold structure

Campo Alegre: Potential to Expand

32

Summary of Portfolio

33

Vanadium [V]

Maracas: Highest grade/quality vanadium deposit

Production Summer 2013: 5,000 TPA V2O5 (cost <$13)

Approximate cash flow: $75+ million per annum

Campo Alegre: Titanium, iron, vanadium deposit/high grade

133 million tonnes (non NI 43-101 compliant) @ 0.75% V2O5, 50% Fe,

21% Ti

Potential 1.5 billion tonnes

Tungsten [W]

Currais Novos: Near-term, low-cost production

1.5 million pounds per annum commenced December 2011 (cost <$59

MTU)

Approximate targeted cash flow: $700,000 per month ($400 MTU APT)

Northern Dancer: Largest undeveloped tungsten deposit

423 MT Resource (M, I&I)

2011 PEA: 27.8% IRR & $1.8 billion NPV @ 8% ($365 MTU APT)

34

Near-Term Objectives & Recent Milestones

Maracas

Received Installation License (LI): October 2011

Secured US$150 debt facility: November 2011

Completed FEED study: December 2011

Complete exploration drill program: December 2011

Double existing resource: Q2 2012

Purchase outstanding 10% interest: Q1 2012

Currais Novos

Commercial Production commenced: December 2011

Additional acquisitions: October 2011

Start underground exploration program: 2012

Campo Alegre

Permits pending for exploration program

Commence exploration drill program upon receipt of permits

Expand Inferred resource to 1.5 billion tonnes:

Northern Dancer

Complete pre-feasibility: Q2 2012

Complete feasibility: December 2012

Largo Resources

@LargoResources1

Largo Resources

35

Darcie Ladd Business Development Manager

dladd@largoresources.com

416-861-9406

Mark Brennan President and CEO

mbrennan@largoresources.com

416-861-9797

Investor Connect

www.LARGORESOURCES.com

55 University Ave. Suite 1101

Toronto, ON – M5J 2H7