1. An Emerging Market Leaderfor VANADIUM and TUNGSTEN ProductionCORPORATE PRESENTATIONAugust 2012 www.largoresources.com

2. Forward Looking StatementsThe information presented contains forward-looking statements, within the meaning of the United States Private Securities Litigation Reform Act of 1995, andforward-looking information under similar Canadian legislation, concerning the business, operations and financial performance and condition of the Company.Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the estimation of mineral reserves and mineralresources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; metal prices and demand formaterials; capital expenditures; success of exploration and development activities; permitting time lines and permitting, mining or processing issues; governmentregulation of mining operations; environmental risks; and title disputes or claims. Generally, forward-looking statements and forward-looking information can be identifiedby 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,, projects or variations of such words and phrases or state that certain actions, events or results may, could,would, might or will be taken, occur or be achieved. Forward-looking statements and forward-looking information are based on the opinions and estimates ofmanagement as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements orforward-looking information, including, but not limited to, unexpected events during operations; variations in ore grade; risks inherent in the mining industry; delay orfailure to receive board approvals; timing and availability of external financing on acceptable terms; risks relating to international operations; actual results of explorationactivities; conclusions of economic valuations; changes in project parameters as plans continue to be refined; and fluctuating metal prices and currency exchangerates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained inforward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can beno 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 and forward-looking information. The Company does not undertake to update anyforward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.Investors are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resourcesbe reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred ResourcesThe information presented uses the terms measured, indicated and inferred mineral resources. United States investors are advised that while such terms arerecognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. Inferred mineralresources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of aninferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibilityor other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be convertedinto mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legallymineable. 2 3. Company OverviewEstimated Production Profile 5 Year Target Target Production Date Estimated Approx. Cash Flow August 2011: Currais Novos $8+ million per annum (Funded) 4th Quarter 2013: Maracas$75+ million per annum (Funded) March 2017: Northern Dancer$200+ million per annum$280+ million per annumThe information presented contains forward-looking statements, within the meaning of the United States Private Securities Litigation Reform Act of 1995, and forward-looking information under similar Canadian legislation, concerning thebusiness, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the estimation of mineral reserves andmineral resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; metal prices and demand for materials; capital expenditures; success of exploration and developmentactivities; permitting time lines and permitting, mining or processing issues; government regulation of mining operations; environmental risks; and title disputes or claims. Generally, forward-looking statements Forward-looking statements andforward-looking information are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to, unexpectedevents during operations; variations in ore grade; risks inherent in the mining industry; delay or failure to receive board approvals; timing and availability of external financing on acceptable terms; risks relating to international operations;actual results of exploration activities; conclusions of economic valuations; changes in project parameters as plans continue to be refined; and fluctuating metal prices and currency exchange rates.3 4. Capital StructureStock symbol:LGO TSX-VShare price (July 31, 2012): $0.24Shares issued (Basic): 824 millionMarket Cap C$197 million52-week High/Low:$0.40 / $0.22Management & Institutions: 75%Warrants & Options (Basic):222 million 4 5. Shareholders and Partners Institutional Shareholders Arias Resource Capital-16.8% Mackenzie Investments-15.9%Eton Park Capital Management-13.3% Ashmore Investment Management13.3%Project PartnersGlencore International100% Take-or-pay off-take agreement for Maracas vanadium projectMajor Tungsten End User 100% off-take agreement for Currais Novos tungsten project 5 6. Experienced Management Team Mark Brennan, President & CEO Founding member of Desert Sun Mining with over 20 years financing experience in North America and Europe. Founder and Principal of Linear Capital, Brasoil Corporation, Castle Resources, James Bay Resources, Morumbi Oil & Gas and former President, CEO and Chairman of Admiral Bay Resources. Tim Mann, P.Eng., Chief Operating Officer Mining Engineer with extensive international operations and management experience in mine engineering, development and operations with SNC Lavalin, Placer Dome and Goldcorp. Andy Campbell, M.Sc., P.Geo., Vice President Exploration Over 33 years experience in mining and exploration, including LAC Minerals and Noranda. Kurt Menchen, General Manager, Brazil Former Jacobina Mine Manager, Brazil. Mining Engineer with over 30 years experience including Anglo Gold and Desert Sun Mining. Les Ford, Technical Director of Brazilian Operations With over 40 years of experience in constructing, developing and producing vanadium projects, Mr. Ford is arguably one of the worlds foremost experts in vanadium. Previously Assistant General Manager of Highveld Steel and a member of the Highveld Executive Committee, and Managing Director of Rand Mines Vansa. Douglas Herbst, Maracas Project Manager Kevin Brewer, P.Geo., General Manager Northern Dancer Project Geologist with over 20 years of mining and exploration experience, combined with extensive knowledge of regulatory and environmental assessment processes. John Laurie, C.G.A.,Chief Financial Officer Over 20 years of accounting and financial management experience. 6 7. Management BreakdownTim Mann, P.Eng. Mark Brennan John Laurie Chief Operating Officer President & CEO Chief Financial OfficerKurt MenchenDarcie LaddRobert Campbell, P.Geo. General Manager, BrazilManager Business DevelopmentVP ExplorationKevin Brewer Paulo Vianna Luciano Chaves General Manager, Yukon Chief of Administration, Brazil Chief of Finance, Brazil Douglas HerbstLes FordIsrael NonatoProject Manager Technical Director of OperationsSenior Exploration GeologistMauricio ColettiDonald ClarkeEldes Bittencourt Mining Engineer Mining EngineerGeologist Mauro Silva Carlos LorenzoMike HendersonElectrical EngineerEnvironmental GeologistGeologist Toronto Main Office Location BrazilYukon 8. Strong Board of Directors Mark Brennan, President/CEO and Director Founding member of Desert Sun Mining with over 20 years financing experience in North America and Europe. Founder and Principal of Linear Capital, Brasoil Corporation, James Bay Resources, and Morumbi Oil & Gas and former President, CEO and Chairman of Admiral Bay Resources. Dirk Donath, Director Senior Managing Director and Partner at Eton Park Capital Management, responsible for Eton Parks private equity and direct investment activities in emerging markets. Eton Park is a global, multi-disciplinary investment fund with a capital base of over US$14 billion. Dan Ioschpe, Director Mr. Ioschpe is currently Chief Executive Officer of Lopche-Maxion, an international company operating in the automotive and railroad sectors.. Alberto Arias, Director Founder and President of Arias Resource Capital Management. He worked for Goldman Sachs & Co and was ranked for five consecutive years as the #1 Equity Research Analyst for the metals and mining industry in Latin America. Prior to Goldman Sachs, he worked at UBS as Executive Director and Analyst covering the Latin American mining sector. David Brace, Director Mr. Brace is currently Chief Executive Officer and a director of Karmin Exploration and a director of Viking Gold Exploration Inc. Mr. Brace previously served as President of Lambton Capital Inc., a private investment firm focused on evaluating mining investments. He has also served as the Chief Executive Officer and as a director of Globe Star Mining as well as Executive Vice-President of Business Development with Aur Resources Inc. until August, 2007. Wayne Egan, Director Mr. Egan is a partner at the law firm of WeirFoulds LLP and acts for several public companies on the TSX and TSX Venture Exchange.Dr. Alan Alper, Director Dr. Alper is an accomplished senior executive, with 30 years of experience at Osram Sylvania, Inc., formerly GTE Sylvania.8 9. Vanadium 9 10. Vanadium Uses:Steel Drives Demand*Roskill Information Services Ltd** Byron Capital Markets.10 11. Vanadium Uses:Growth in Green TechnologiesVanadium AdvantagesStorage Applications Vanadium has shown to increase the Wind turbines effectiveness of energy storage in traditional Solar panels batteriesBackup electrical systems Mass amounts of energy can be stored longer and batteries can be re-charged fasterHybrid/electric cars Low-cost, low-volatility, high-performance batteriesVanadium Redox Storage BatteriesVanadium redox storage batteries are the potential solution to green energys storage issues.Source: USGS, Byron Capital Markets11 12. Vanadium Uses:Growth in Green TechnologiesVoltage with Different Cathodes (v)Vanadium phosphate cathode material cansupport 20% more energy storage than 4.8 Advantagescobalt oxide, 26% more than iron phosphate 4.14.0Vanadium 3.7 3.6and 56% more than manganese oxide, 3.3solving the issue of quick discharge inelectric carsHighest voltages measured, generating amore powerful batteryLi3V2(PO4)3LiVPO4F LiMn2O4 LiCoO2 Li2FePO4F LiFePO4Lithium Vanadium Electric CarPhoto Courtesy of Tesla MotorsThe potential demand for electric cars can substantially increase the demand for lithium-ion batteries withcathodes compounded by vanadium.Source: USGS, Byron Capital Markets 12 13. Tungsten 13 14. Tungsten Uses:Supply Constraints Drive Pricing Strategic metal with highest melting point of all metals*14 15. Near-Term Cash FlowTwo Advanced-Stage Projects with Potential to ExpandVanadium [V] Maracas: Highest grade/quality vanadium deposit90% ownershipProduction Q4 2013: 5,000 TPA FeV (cost