Scheme of Association turns into Efficient

Figure 1: Campbell Pit and Northern District Targets (Graphic: Business Wire)

Determine 1: Campbell Pit and Northern District Targets (Graphic: Enterprise Wire)

Daniel Tellechea, Director and Interim CEO of Largo, acknowledged: “As part of its ongoing operations, Largo continues to undertake exploration work within the areas surrounding the Campbell Pit to each optimize present operations and plan for future growth and growth by means of the identification and conversion of assets. This exploration program goals to broaden our understanding of the mineralization surrounding the Campbell Pit in order that we could gauge the opportunity of continued mineralization north and south of the Campbell Pit. With evaluation of current drilling and historic exploration work underway, we anticipate offering the market with updates as our program progresses.”

Exploration Program Overview

Largo is working to broaden its information and set up a correlation with the identified mineralization intercepted to the north of the Campbell Pit the place, in 2021, mineral reserves and assets had been reported within the Firm’s present technical report on the Campbell Pit, Gulçari A Norte (” GAN “) and Novo Amparo Notre (” NAN “). At present, the Firm is exploring the potential for a 7 km pattern of mineralization between the Campbell Pit and the satellite tv for pc deposits (from south to north); GAN, São José (” SJO “), Novo Amparo, and NAN (collectively, the ” Northern District “).

Moreover, the Firm can be working to grasp and set up a correlation with the identified mineralization intercepted south of the Campbell Pit, which incorporates additional evaluation of exploration work carried out on satellite tv for pc deposits (from north to south): Gulçari A Sul, Agua Branca, Jacaré, Braga, Ilha Grande, and Rio de Contas (collectively, the ” Southern District “).

2023 Drill Program

In 2022 and 2023, the Firm performed a drill program within the Northern District consisting of 19 drill holes and 245 floor samples, 148 infill holes within the Campbell Pit and 33 holes within the Southern District (the ” 2023 Marketing campaign “). The Firm can be performing a complete overview of its present exploration knowledge within the Northern District, together with, with out limitation, 161 historic drill holes and 5,869 samples collected between 1981 and 2020.

The Firm’s 2023 Marketing campaign within the Northern District contains 19 new diamond drill holes aimed toward enhancing the Firm’s geological information of the Campbell Pit and GAN and SJO deposits. Of these holes, six step-out holes had been drilled between the Campbell Pit and GAN deposit with the purpose of confirming the potential for continued mineralization. The Firm believes the preliminary outcomes for the six step-out holes present higher confidence within the continuity of mineralization between the Campbell and GAN mineralized zones. Assay outcomes from the six step-out drill holes are supplied in Desk 1, together with a plan view and cross-section of the drill holes in Determine 2 and three.

The Firm is within the technique of analyzing its historic drill knowledge and the remaining holes from its 2023 Marketing campaign with outcomes anticipated in Q1 2024.

Desk 1: 2023 Drill Program – GAN Step-out Drill Consequence Highlights

Gap ID	From (m)	To (m)	Size (m)	True Width (m)	V ₂ O ₅ (%)	TiO ₂ (%)	Magnetic Mass Restoration (%)*	Goal
GAN-DD-001	48.00	55.00	7.00	5.25	0.43	8.32	19.61	GAN
	56.00	58.86	2.86	2.15	0.32	6.57	11.62	GAN
	61.00	71.00	10.00	7.58	0.36	6.86	13.69	GAN
	74.00	87.00	13.00	9.97	0.40	6.91	15.35	GAN
	249.00	255.00	6.00	4.84	0.60	14.10	37.82	GAN
	390.00	394.75	4.75	3.93	0.56	7.70	18.87	GAN
	414.00	418.19	4.19	3.48	0.58	5.13	15.01	GAN
GAN-DD-004	83.60	102.32	18.72	14.48	0.65	13.94	38.98	GAN
	293.00	295.97	2.97	2.46	0.67	9.96	25.96	GAN
	339.00	348.00	9.00	7.59	0.43	3.59	3.99	GAN
GAN-DD-005	68.50	71.90	3.40	3.00	0.44	9.31	18.36	GAN
GAN-DD-005	77.00	80.64	3.64	3.22	0.49	9.12	19.19	GAN
GAN-DD-006	322.00	328.00	6.00	4.80	0.48	3.42	2.93	GAN
GAN-DD-007	235.73	240.13	4.40	3.47	0.87	11.43	32.50	GAN
GUA-DD-001	281.00	284.00	3.00	2.87	0.35	2.69	0.82	GAN

* Davis Tube focus

Desk 2: 2023 Drill Program – GAN Step-out Drill Gap Data

Gap ID	X UTM (m)	Y UTM (m)	RL (m)	Az (°)	Dip (°)	Depth (m)	Goal
GAN-DD-001	318878	8486173	275.3	290	60	268.3	GAN
	318876	8486172	268.5	290	60	265.64	GAN
	318870	8486172	264.3	290	60	254.3	GAN
	318861	8486172	253.4	290	60	240.4	GAN
	318763	8486172	110.6	290	60	104.6	GAN
	318678	8486175	-0.95	290	60	-5.7	GAN
	318664	8486176	-19.7	290	60	-23.89	GAN
GAN-DD-004	318800	8486580	237.1	270	60	218.38	GAN
	318689	8486592	65.41	270	60	62.44	GAN
	318658	8486597	29.1	270	60	20.1	GAN
GAN-DD-005	318803	8486579	260.6	270	45	257.2	GAN
GAN-DD-005	318797	8486579	254.6	270	45	250.96	GAN
GAN-DD-006	318619	8486303	39.5	270	60	33.5	GAN
GAN-DD-007	318644	8486386	109	270	60	104.6	GAN
GUA-DD-001	318556	8486228	112.5	270	45	109.5	GAN

Sampling, QA/QC, and Analytical Procedures

Drill core is logged, photographed and cut up in half utilizing a diamond core noticed on the safe core logging and storage amenities of Largo Vanádio Maracás S.A. (” LVMSA “). Half of the drill core is retained on web site and the opposite half core is used for evaluation, with samples collected on one meter pattern intervals except an interval crosses a geological contact.

The pattern preparation and analytical work was carried out on the SGS facility in Belo Horizonte and the LVMSA safe on-site laboratory, that are each ISO 9001 licensed laboratories. All pattern outcomes through the interval have been monitored by means of a QA/QC program that features the insertion of licensed requirements, blanks, and pulp and reject duplicate samples. Davis Tube check work was carried out on all mineralized samples.

Evaluation of Technical Data

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 Particular person as outlined underneath Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks and has reviewed and accredited the scientific and technical data on this press launch.

About Largo

Largo is a globally acknowledged vanadium firm identified for its high-quality VPURE ^TM and VPURE+ ^TM merchandise, sourced from its Maracás Menchen Mine in Brazil. The Firm is presently targeted on implementing an 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 development technique to help a low-carbon future.

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

Cautionary Assertion Relating to Ahead-looking Data:

This press launch comprises “forward-looking data” and “forward-looking statements” throughout the that 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 correlations between identified mineralization intercepted from NAN and the Campbell Pit; exploration outcomes on the Maracás Menchen Mine; future growth and growth on the Campbell Pit; offering future updates on the Firm’s program; the timing and supply of the Firm’s evaluation on historic drill holes its 2023 Marketing campaign and floor sampling; and the timing and supply of the Firm’s evaluation on the Southern District and Northern District exploration work.

The next are a few of the assumptions upon which forward-looking data is predicated: that common enterprise and financial situations is not going to change in a fabric hostile method; demand for, and steady or enhancing value of V ₂ O ₅ , different vanadium merchandise, ilmenite and titanium dioxide pigment; 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 tools or different materials disruption within the Firm’s operations on the Maracás Menchen Mine or regarding Largo Clear Power; the provision of financing for operations and growth; the provision of funding for future capital expenditures; the flexibility to interchange present funding on phrases passable to the Firm; the flexibility to mitigate the influence of heavy rainfall; the reliability of manufacturing, together with, with out limitation, entry to large ore, the Firm’s means to obtain tools, providers and working provides in enough portions and on a well timed foundation; that the estimates of the assets and reserves on the Maracás Menchen Mine are inside cheap bounds of accuracy (together with with respect to dimension, grade and restoration and the operational and value assumptions on which such estimates are based mostly); the accuracy of the Firm’s mine plan on the Maracás Menchen Mine, the competitiveness of the Firm’s vanadium redox move battery (” VRFB “) expertise; the flexibility to acquire funding by means of authorities grants and awards for the inexperienced vitality sector, the accuracy of price estimates and assumptions on future variations of VCHARGE battery system design, that the Firm’s present plans for ilmenite and VRFBs might 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 towards Russia; and the Firm’s means to draw and retain expert personnel and administrators; the flexibility of administration to execute strategic objectives.

Ahead-looking statements might be recognized by way of forward-looking terminology corresponding to “plans”, “expects” or “doesn’t anticipate”, “is predicted”, “funds”, “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 “could”, “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 identified and unknown dangers, uncertainties and different components which will trigger the precise outcomes, degree of exercise, efficiency or achievements of Largo to be materially completely 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 obtainable on www.sec.gov every so often. 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 establish vital components that might 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 meant. There might 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 shouldn’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 overview the dangers and uncertainties sections of Largo’s annual and interim MD&A which additionally apply.

Emblems are owned by Largo Inc.