Increased Vanadium and Iron Focus Grades Highlighted in Testwork

Determine 1: View of Non-Magnetic Tailings Ponds Two and Pond Three with the Auger Drill Gap Positions (Photograph: Enterprise Wire)

Daniel Tellechea, Director and Interim CEO of Largo, acknowledged: “Preliminary evaluation of the Firm’s non-magnetic tailings pond and ilmenite stockpile has returned vital PGM grades, prompting our workforce to plan for an extra drill program to boost our data of grade distribution inside the non-magnetic tailings ponds. Concurrently, our workforce is performing a database evaluate, relogging, and re-assay program of previous exploration work associated to PGMs, alongside a centered drilling initiative to realize a deeper understanding of PGM grade distribution in deposits north and south of the Campbell Pit, the place previous exploration efforts have demonstrated varied grades of PGMs.”

He continued: “In 2014, Largo contracted Société Générale de Surveillance SA. (SGS) to conduct metallurgical and PGM flotation assessments on the huge vanadium ore on the Maracás Menchen Mine with encouraging outcomes. The most important significance of as we speak’s announcement is that greater grades of PGMs might be related to the Firm’s non-magnetic materials moderately than huge vanadium ore, as beforehand thought. We plan to conduct additional research to judge the potential to get well PGMs as an extra by-product of Largo’s vanadium and ilmenite operations following the completion of our ilmenite focus plant. We anticipate offering updates on this initiative and different exploration progress as our efforts proceed going ahead.”

Non-Magnetic Tailings Pond Auger Drill Gap Highlights

• BN3TR15: 3.0 metres grading 0.410g Pt/t and 0.209g Pd/t and 0.07g Au/t totalling 0.687g PGM equal (“PGM eq.”)
• BN2TR1: 4.3 metres grading 0.321g Pt/t and 0.118g Pd/t and 0.04g Au/t totalling 0.480g PGM eq.

There are three non-magnetic tailings ponds on the Maracás Menchen Mine (see Determine 1). Pond 4 is lively however has not been sampled as it’s nonetheless underneath operation and receiving non-magnetic materials from ongoing operations. The present tonnage of pond 4 is roughly 3.0 million tonnes as of December 31, 2023. Additional evaluation has additionally recognized gold grades, which has been added to the continuing evaluation.

Desk 1: Non-Magnetic Tailings Ponds Tonnage Statistics

The non-magnetic tailings materials is the results of the method of separating materials that incorporates vanadium. The non-magnetic move incorporates silicates (largely amphiboles and pyroxenes) and ilmenite. This materials feeds the flotation plant after which the ilmenite is separated from the silicates producing the ilmenite focus.

Desk 2: Auger Drill Program Outcomes (Non-Magnetic Tailings Ponds Two and Three)

The Firm additionally carried out random sampling across the restrict of its ilmenite stockpile (8,700 tonnes of fabric efficient date of January 19, 2024). A complete of 19 samples had been collected and submitted for additional evaluation with the outcomes introduced in desk 2.

Desk 2: Results of 2023 Ilmenite Stockpile Sampling Program

Previous Exploration Work Carried out: PGMs on the Maracás Menchen Mine

Previous exploration work was carried out on the Firm’s Gulçari A Norte (” GAN “), São José (” SJO “), Novo Amparo (” NAO “), and Novo Amparo Norte (” NAN “) targets, (collectively, the ” Northern District “) in 2006, 2008, 2011 , 2012 and 2014 and 2018. These exploration efforts demonstrated varied grades of PGMs, nevertheless, additional research to discover PGMs was discontinued because the Firm centered solely on advancing its vanadium operations.

Highlighted PGMs Outcomes from Previous Exploration Work

• FGA23 – 9.0 metres grading 0.860g Pt/t and 0.410g Pd/t
• FGA43 – 9.0 metres grading 0.108g Pt/t and 0.005g Pd/t
• FGA25 – 9.0 metres grading 0.740g Pt/t and 0.110g Pd/t

Desk 3: Previous PGM Outcomes of the Campbell Pit (see information launch dated April 24, 2007)

The Firm is performing an additional evaluate of previous drill information with the intention of creating a brand new database to evaluate the opportunity of the continuity of PGMs within the Northern District.

Desk 4: Previous PGM Drill Consequence Highlights from the Northern District

Sampling, QA/QC, and Analytical Procedures

The Auger pattern developed in 2023 was logged and photographed by the Largo Vanádio Maracás S.A. workforce. The pattern preparation and analytical work was carried out on the SGS facility in Belo Horizonte, which is ISO 9001 licensed laboratory. All pattern outcomes in the course of the interval have been monitored by way of a QA/QC program that features the insertion of licensed requirements, blanks, and pulp and reject duplicate samples developed by SGS. The sampling, logging, custody of samples and QAQC routines had been validated by Emerson Ricardo Re in the course of the web site go to developed in December 2023.

The QAQC program carried out throughout previous exploration work carried out utilized business and market practices that embody licensed requirements, blanks, rejects and pulp samples.

Evaluation of Technical Info

Mr. Emerson Ricardo Re., MSc, MBA, MAusIMM (CP) (No. 305892), Registered Member (No. 0138) (Chilean Mining Fee) is the geology advisor and answerable for the geological administration of the Maracás Menchen Mine. Mr. Re is a Certified Individual as outlined underneath Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks and has reviewed and permitted the scientific and technical data on this press launch.

About Largo

Largo is a globally acknowledged vanadium firm recognized for its high-quality VPURE ^TM and VPURE+ ^TM merchandise, sourced from its Maracás Menchen Mine in Brazil. The Firm is at the moment centered on ramping-up manufacturing of its ilmenite focus plant and is enterprise a strategic analysis of its U.S.-based clear vitality enterprise, together with its superior VCHARGE vanadium battery expertise to maximise the worth of the group. Largo’s strategic marketing strategy facilities on sustaining its place as a number one vanadium provider with a progress technique to help a low-carbon future.

Largo’s frequent shares commerce on the Nasdaq Inventory Market and on the Toronto Inventory Change underneath the image “LGO”. For extra data on the Firm, please go to www.largoinc.com .

Cautionary Assertion Concerning Ahead-looking Info:

This press launch incorporates “forward-looking data” and “forward-looking statements” (collectively, “forward-looking statements”) inside the which means of relevant Canadian and United States securities laws. Ahead‐wanting data on this press launch contains, however shouldn’t be restricted to, statements with respect to work to determine the existence of PGMs within the deposits surrounding the Campbell Pit; exploration outcomes on the Maracás Menchen Mine; future growth and enlargement on the Campbell Pit; offering future updates on the Firm’s program; and the evaluation of potential PGMs within the Northern District.

The next are a few of the assumptions upon which forward-looking statements based mostly: that basic enterprise and financial situations is not going to change in a fabric opposed method; receipt of regulatory and governmental approvals, permits and renewals in a well timed method; that the Firm is not going to expertise any materials accident, labour dispute or failure of plant or gear or different materials disruption within the Firm’s operations; the provision of financing for operations and growth; the provision of funding for future capital expenditures; the power to switch present funding on phrases passable to the Firm; the power to mitigate the impression of heavy rainfall; the Firm’s capacity to obtain gear, companies and working provides in enough portions and on a well timed foundation; the accuracy of the Firm’s mine plan on the Maracás Menchen Mine; the power to acquire funding by way of authorities grants and awards for the inexperienced vitality sector; that the Firm’s present plans for drilling and exploration could be achieved; the Firm’s “two-pillar” enterprise technique might be profitable; the Firm’s gross sales and buying and selling preparations is not going to be affected by the evolving sanctions in opposition to Russia; the Firm’s capacity to draw and retain expert personnel and administrators; and the power of administration to execute strategic targets.

Ahead-looking statements could be recognized by way of forward-looking terminology reminiscent of “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “might”, “might”, “would”, “would possibly” or “might be taken”, “happen” or “be achieved”. All data contained on this information launch, aside from statements of present and historic reality, is ahead wanting data. Ahead-looking statements are topic to recognized and unknown dangers, uncertainties and different components that will trigger the precise outcomes, degree of exercise, efficiency or achievements of Largo to be materially totally different from these expressed or implied by such forward-looking statements, together with however not restricted to these dangers described within the annual data type of Largo and in its public paperwork filed on www.sedarplus.ca and accessible on www.sec.gov every now and then. Ahead-looking statements are based mostly on the opinions and estimates of administration as of the date such statements are made. Though administration of Largo has tried to determine necessary components that would trigger precise outcomes to vary materially from these contained in forward-looking statements, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There could be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements. Largo doesn’t undertake to replace any forward-looking statements, besides in accordance with relevant securities legal guidelines. Readers also needs to evaluate the dangers and uncertainties sections of Largo’s annual and interim MD&A which additionally apply.

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For additional data:

Investor Relations
Alex Guthrie
Senior Supervisor, Exterior Relations
+1.416.861.9778
aguthrie@largoinc.com