Largo Provides Operational Update - Maracás on track for Q1 Commissioning

• Significant Progress on Mechanical and Electrical Construction Activities
• Kiln Rollers on Site and Kiln Erection on track for Q1 Commissioning
• Crushing System Commissioning Successful and Ongoing
  
  Symbol: LGO (TSX.V)

TORONTO, Nov. 26, 2013 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to provide the following operational update for its Maracás Vanadium Project in Bahia, Brazil (the "Project").

Electrical-mechanical erection at the Project, which includes the installation of equipment and structures, continues on track for expected commissioning in the first quarter of 2014 (see pictures 1-8).

A summary of recent developments is listed below.

Highlights of Ongoing Development:

• Mine
  
  Pre-stripping of the Gulçari "A" open pit is proceeding as planned with the first bench at the 300 level and the main pit access ramp well underway. First loads of ore have been delivered into the crushing plant.

• Utilities
  
  The electrical power line was completed in October (as announced on October 21) and electrical substations at the project have been commissioned.
  
  The water treatment plant is complete and has been commissioned. The steam boiler and its stack have been installed while associated pipe work and auxiliary equipment installation continues.

• Crushing and Beneficiation (see photos 1-3)
  
  Full commissioning of the crushing system commenced in October (see press release October 3, 2013) and is continuing on track. A crushed ore stock pile of around 25,000 tonnes is planned.
  
  Construction and erection of the steel structure and conveyors for the beneficiation plant has concluded. Pipework on the slurry lines for the ball mill, magnetic separators and belt filters is well advanced.
  
  Commissioning of portions of the beneficiation plant has started and concentrate will be produced and stockpiled during December and will be ready for kiln commissioning.

• Kiln (see photos 4 - 6)
  
  Construction of the steel structures for the kiln feed, kiln discharge platforms as well as for the electrostatic precipitator has concluded.
  
  All the remaining rollers for the kiln and cooler arrived at site in early November and have been installed on their piers. The rollers are now fully aligned and grouted.
  
  Ground assembly of the kiln and cooler shells is well advanced with the installation of refractory anchors clips and live rings progressing well.
  
  The first section of the cooler was lifted into place today (see photo 6) and the remaining cooler and kiln sections are expected to be resting on the piers by the end of December.

• Leaching (see picture 7)
  
  Installation of the quench and scrubber system and stack has progressed very well. The belt filter has been installed and connections to the vacuum system are in progress. The metallic conveyor which conveys cooler discharge to the quench vessel is partially installed and progressing.

• Desilication
  
  All the previously completed tanks required for the desilication process are now fitted with agitators. Only pipe work remains to be completed in this area.

• Evaporator (Salt Recovery Plant)
  
  The main components of the evaporator (i.e. the crystallizer, fans, heat exchanger ducting and pumps) have all been installed and the plant is physically close to completion. Work is continuing on small piping and instrumentation. Vendor technical staff are on site guiding the contractor with the installation

• AMV Precipitation
  
  The tanks and thickener are both complete. The ammonium sulfate storage silo is being constructed on site and progressing well. The belt filter installation is complete and awaiting connection to the vacuum system. The conveyor transporting belt filter product to the flash dryer has been completed.

• Flash Dryer, Deammoniator and Fusion Furnace (see picture 8)
  
  The flash dryer installation nears completion with only final alignment and electrical and instrumentation still required.
  
  The deammoniator is installed with the discharge screw feeding fusion furnace attached.
  
  Refractory lining of the fusion furnace base will commence this week.
  
  The flaking wheel is installed in place and installation of the metal conveyor conveying flake from the wheel to the storage and weighing facility is progressing well.
  
  The product storage silo has been completed, and the bag filling and weighing equipment is installed and awaiting electrical connection.
  
  The product handling and final product storage building is complete. Roofing of this building will commence this week.

• Auxiliary/Administrative Areas
  
  The mechanical workshop has advanced well and is expected to be completed by mid-December.
  
  The change house is now complete and suitable for use.

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company. 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 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.

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

Mr. Michael Mutchler, Chief Operating Officer to Largo and a Qualified Person as defined by the National Instrument 43-101, has reviewed and approved the contents of this press release.

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

Join our mailing list to receive regular photo updates of our progress: www.largoresources.com/English/about-us/contact/default.aspx

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 Maracás 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 sections of Largo's annual and interim MD&As.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

SOURCE Largo Resources Ltd.

Image with caption: "Picture 1: Commissioning of Crushing Circuit (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33855.jpg

Image with caption: "Picture 2: Crushed Ore Stockpile (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33856.jpg

Image with caption: "Picture 3: Milling and Beneficiation Area with Pipework well Advanced (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33857.jpg

Image with caption: "Picture 4: Final Rollers for Kiln Arrived at Site in Early November (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33858.jpg

Image with caption: "Picture 5: Final Roller for Kiln Being Lifted into Place (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33859.jpg

Image with caption: "Picture 6: First Cooler Shell Being Lifted and Placed on its Pedestal (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33868.jpg

Image with caption: "Picture 7: Leaching System with Filtrate Tank and Scrubber in place (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33860.jpg

Image with caption: "Picture 8: Flash Dryer, Deammoniator, Final Product Building (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20131126_C5048_PHOTO_EN_33861.jpg