Largo Resources Ltd.
TSX VENTURE : LGO

Largo Resources Ltd.

September 17, 2010 07:30 ET

Largo Repays Bridge Loan

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2010) - Largo Resources Ltd. (TSX VENTURE:LGO) ("Largo" or the "Company") is pleased to announce that it has repaid in full its previously announced Bridge Loan pursuant to which it borrowed CAD $750,000 (the "Principal") for exploration and for general corporate purposes (See News Release dated August 27, 2010).

Pursuant to the repayment of principal, fees and interest of the Bridge Loan, Largo has satisfied all of its obligations in full to the lender and has no further obligations to the lender.

Largo and the lender have a common director, being Mark Brennan, who is the President, C.E.O and a director of Largo and a director of the lender. Accordingly, the Bridge Loan is considered a non-arm's length transaction for the purposes of the TSX Venture Exchange.

ABOUT LARGO:

Largo Resources Ltd. is a Canadian natural resource development and exploration company with three advanced stage projects: the Maracas Vanadium-PGM deposit in Bahia, Brazil, the Currais Novos Tungsten project in Rio Grande de Norte, Brazil and the Northern Dancer Tungsten-Molybdenum deposit in the Yukon, Canada. The Company also owns the Campo Alegre de Lourdes Vanadium exploration project in Brazil. The Company is listed on the TSX Venture Exchange under the symbol LGO. For more information please refer to Largo's website: www.largoresources.com.

FORWARD LOOKING INFORMATION

This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to the impact of the Loan on the Company, and future exploration expenses and plans. Forward looking information is subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon negotiations between the Company and prospective investors, extensive technical and scientific analysis conducted by the management of the Company, and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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