Largo Resources Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported loss before other items of CAD 428,158, net loss of CAD 449,068 and cash and cash equivalents used in operating activities of CAD 30,711 against loss before other items of CAD 4,935,552, net loss of CAD 4,997,771 or CAD 0.04 basic and diluted per share and cash and cash equivalents used in operating activities of CAD 554,847 for the same period a year ago. For the six months, the company reported loss before other items of CAD 673,993, net loss of CAD 714,806 and cash and cash equivalents used in operating activities of CAD 638,179 against loss before other items of CAD 5,741,579, net loss of CAD 6,167,530 or CAD 0.06 basic and diluted per share and cash and cash equivalents used in operating activities of CAD 1,981,323 for the same period a year ago.

Largo Resources Ltd. announced project updates. 150 million tonnes combined high grade vanadium (22.5 million tonnes 43-101 compliant and 132 million tonnes non-compliant). Target production of 10-15 million tonnes high grade ferrovanadium per year. Target production of over 20 million tonnes of tungsten oxide per year. Target production of over 6 million tonnes of molybdenum oxide per year. The Maracas Vanadium Project provides Largo with the ability to produce in excess of 155,000,000 pounds of high grade vanadium in ferrovanadium over the currently projected 23 year life of the mine. Following initial investigations and market analysis, Largo is examining options to increase the targeted annual production to 15,000,000 pounds from the currently proposed 10,000,000 pounds of vanadium per annum and accelerate the production schedule. The existing resource at Maracas occupies a small foot print (400 meters) and potential for additional resources can be identified with drilling along strike and at depth. Only 10% of the potential 8 kilometres of strike length has been tested to date and four other targets have been identified that need further drilling in order to upgrade them to a resource category. Drilling at Campo Alegre de Lourdes has not tested the deposit limits and the deposit remains open both along its 22 kilometre strike and to depth. The holes have only tested the deposit to a shallow depth of 60 metres vertical. Largo believes that Campo Alegre provides the company with an opportunity to diversify into the iron ore business with the potential benefit of producing titanium and vanadium as by-products.

Largo Resources Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2009. For the period, the company reported loss before interest and dividend income, interest expense and write down of mineral property of CAD 245,835 against CAD 800,653 a year ago. Loss before and after income taxes was CAD 265,738 against CAD 1,169,759 or CAD 0.01 per basic and diluted share a year ago. Cash and cash equivalents used in operating activities was CAD 607,468 against CAD 303,917 a year ago. The company reported write down of mineral property of CAD 17,301 against CAD 371,643 a year ago.