Largo appoints Mr. Michael Mutchler to the position of Chief Operating Officer

Symbol: LGO (TSX.V)
www.largoresources.com

TORONTO, Nov. 11, 2013 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce the appointment of Mr. Michael Mutchler to the position of Chief Operating Officer ("COO").

Mr. Michael Mutchler is a Mining Engineer with over 33 years' experience in mining, including: open pit and underground mining, project development, operational management, and executive management. Mr. Mutchler has most recently served as Chief Operating Officer for Rainy River Resources which was acquired by New Gold. Prior to his tenure with Rainy River, Mr. Mutchler served Kinross both as Vice President of Project Development Services and as Project Director of the Paracatu Mine Optimization in Brazil. In addition, Mr. Mutchler worked for 20 years with ASARCO Incorporated in various operational roles.

Mr. Mutchler holds a Bachelor of Science degree in Mining Engineering from South Dakota school of Mines, an MBA from Webster University and an Executive Juris Doctorate Degree from Concord School of Law.

The appointment of Mr. Mutchler follows the retirement of Mr. Tim Mann who has served as the Chief Operating Officer and previously as Vice President of Engineering to Largo since 2006. Mr. Mann will remain as an Engineering consultant to the Company going forward.

Mark Brennan, the Company's President and Chief Executive Officer, stated: "We are extremely pleased to welcome Michael to the team and believe that his past experience with project development, and his formidable operational expertise will strongly benefit Largo. His appointment occurs at an opportune moment for Largo as we begin the transition from the construction stage into a producing mining Company."

He continued: "I would like to sincerely thank Mr. Mann for his many years of dedication to Largo. Tim's contributions to Largo have been integral during all stages of the Maracas Vanadium Project's assessment, financing and initial development. On behalf of the entire Largo team, we thank him for his considerable efforts, and wish him the very best in his retirement."

In connection with his appointment, Mr. Mutchler was granted 2,000,000 options of the Company, which will expire in five years. The options will vest over three years with 1/4 of the options vesting on the date of grant and 1/4 of the options vesting on each of the first, second, and third anniversaries of the date of grant thereafter. The options will be priced as follows: a third at $0.24, a third at $0.26 and a third at $0.28.

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company. Largo currently holds a 100% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailings Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada. The immediate goal of the Company is to develop the Maracás Vanadium Project by Q1, 2014 and to produce WO₃ concentrate from the reprocessing of tungsten tailings from Currais Novos. Largo's skilled management team both in Canada and Brazil, are confident in their ability to advance these projects.

Largo is listed on the TSX Venture Exchange under the symbol "LGO".

For more information please refer to Largo's website: www.largoresources.com

Disclaimer

This press release contains forward-looking information under Canadian securities legislation. forward-looking information includes, but is not limited to, statements with respect to completion of the private placement, Largo's development potential and timetable of the Maracas and Northern Dancer projects; Largo's ability to raise additional funds necessary; the future price of tungsten and molybdenum; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements 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", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements 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 Largo to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties section of Largo's annual and interim MD&As.

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SOURCE Largo Resources Ltd.