Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that the Company has received approval from The Nasdaq Stock Market LLC (the "Nasdaq") to list its issued and outstanding common shares ("Common Shares") on the Nasdaq.

Largo’s Common Shares are expected to commence trading on the Nasdaq at the open of market trading on April 19, 2021, under the trading symbol "LGO".

Paulo Misk, President and CEO of Largo commented: “Listing on the Nasdaq represents a significant milestone in the evolution of Largo as we further execute on strategically developing our U.S.-based Largo Clean Energy division into an industry-leading, vertically integrated vanadium redox flow battery business.” He continued: “We believe this listing will provide Largo with increased visibility with prospective U.S. investors, improve the Company’s liquidity and assist in developing a more diversified shareholder base as we continue on our anticipated growth trajectory.”

The Company will continue to maintain the listing of its Common Shares on the Toronto Stock Exchange under the symbol "LGO". The listing of the Company's Common Shares on the Nasdaq remains subject to the satisfaction of all applicable listing and regulatory requirements, including the declaration of effectiveness of the Company’s registration statement by the United States Securities and Exchange Commission.

About Largo Resources

Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange under the symbol "LGO".

For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.

For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of application Canadian securities legislation ("forward-looking statements"). Forward‐looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment, the timing and cost related to the build out of the ilmenite plan, eventual production from the ilmenite plant, the ability to sell ilmenite on a profitable basis and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward‐looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to maintain our listing on the Nasdaq, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, our ability to produce iron ore and the adoption of VFRB technology generally in the market. 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". All information contained in this news release, other than statements of current and historical fact, is forward looking information. 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 Largo or Largo Clean Energy 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. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. 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 which also apply.

Investor Relations: Alex Guthrie Senior Manager, External Relations aguthrie@largoresources.com Tel: +1 416‐861‐9797

Media Enquiries: Crystal Quast Bullseye Corporate Quast@bullseyecorporate.com Tel: +1 647-529-6364

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