Largo Resources Ltd.
TSX VENTURE : LGO

Largo Resources Ltd.

August 08, 2006 16:05 ET

Largo Appoints William Clarke to Board

Adds impressive global reach to the Company's stewardship which will assist with the development of advanced-stage assets

TORONTO, ONTARIO--(CCNMatthews - Aug. 8, 2006) - Largo Resources Ltd. (TSX VENTURE:LGO) is pleased to announce the appointment of Mr. William Clarke to its Board of Directors.

Mr. Clarke is an expert in international trade and investment, with extensive experience as an advocate for Canadian industry. From 2000 to 2004 he served as President and CEO of the Canadian Nuclear Association. Mr. Clarke served in Canada's foreign service for 34 years with assignments around the world, most notably as Canadian Ambassador to Brazil and to Sweden and the Baltic Republics. He retired from public service in 2000 as Canada's Chief Trade Commissioner, leading and directing Canadian government personnel worldwide to promote export growth and investment inflows. He is currently on the Board of several international companies and provides consulting and advocacy services as a member of Trade Commissioner Consulting Services Inc.

Largo President and CEO, Mark Brennan, remarked "Bill will add a strong international dimension to the Board, and this experience is something we hope to rely on as we take the company to the next stage of its development."

"I'm impressed with the potential of Largo's assets and look forward to contributing in the months ahead," stated Mr. Clarke.

The appointment of Mr. Clarke to the Board of Directors follows the resignation of Mr. David Meyer. The Company would like to express its thanks to Mr. Meyer for the significant contributions that he has made.

Largo would like also to announce that it has granted 1,525,000 incentive stock options to officers, directors and consultants of the company. The options have an exercise price of $0.25 and will be valid for five years.

Largo is a Canadian natural resource development and exploration company with an advanced-stage project in the Yukon; the Northern Dancer Tungsten-Molybdenum deposit, and a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador. The Company is listed on the TSX Venture Exchange under the symbol LGO.

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Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".

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