Largo Provides Operational Update - Maracas on Track for Targeted Q1 2014 Commissioning

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

• Crushing System Fully Operational with 18,000 Tonnes Crushed and Stockpiled
• Grinding and Beneficiation System Commissioning is Underway and Vanadium Pentoxide Concentrate Production has Commenced
• Evaporation System Mechanically Completed and Commissioning Initiated
• Kiln & Cooler Sections Mechanically Completed and Refractory Installation Started
• Remaining Systems Nearing Completion

TORONTO, Feb. 3, 2014 /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").

The milling and beneficiation system is being commissioned and production of vanadium pentoxide concentrate has commenced. Largo expects to stockpile 5,000 tonnes of this concentrate in preparation for the commissioning of the kiln.

The salt evaporation system has been mechanically completed and is presently being commissioned.

The kiln and cooler sections are mechanically complete and refractory is now being installed in the kiln, cooler, and the intake and exhaust chutes.  Assembly work continues on the electrostatic precipitator in preparation for kiln startup.

The leaching, desilication, precipitation, flash drying, deammoniation and fusion furnace systems all remain on track for targeted Q1 2014 completion.

Mr. Mark Brennan, Chief Executive Officer of Largo, stated "We are very excited by the progress of construction and commissioning at the Project, with all systems expected to be commissioned in Q1 of this year".

About Largo

Largo is a growing strategic mineral company with projects in Brazil and Canada. The immediate goal of the Company is to complete the development of its Maracás Vanadium Project which is expected in the first quarter of 2014. Largo also has interests in a portfolio of other projects, including: a 100% interest in the Currais Novos Tungsten Tailings Project in Brazil, which the Company continues to develop; a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project in Brazil; and a 100% interest in the Northern Dancer Tungsten-Molybdenum property 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 under 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

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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.

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

Image with caption: "Ground view of milling and beneficiation system at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36160.jpg

Image with caption: "Main ball mill commissioned at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36161.jpg

Image with caption: "Magnetic separators cyclones and filter in beneficiation plant at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36162.jpg

Image with caption: "The salt evaporation and deammoniation systems at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36163.jpg

Image with caption: "Electrostatic Precipitator at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36164.jpg

Image with caption: "Refractory installation in kiln at the Maracas Vanadium Project (CNW Group/Largo Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140203_C7044_PHOTO_EN_36165.jpg

SOURCE: Largo Resources Ltd.

Darcie Ladd
Manager Business Development
416-861-9406
[email protected]

Mark Brennan
President & CEO