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Largo Resources Ltd. ("Largo"
or the "Company") (TSX VENTURE:LGO - News) is pleased to announce
the appointment of Leslie John Ford ("Les Ford") to the position of
Technical Director of Brazilian Operations. Les has over 40 years of
experience constructing, developing and producing vanadium projects, Mr. Ford
is one of the world's foremost experts in vanadium.
Mr. Ford began his career in 1970 with
Highveld Steel and Vanadium Corp. ("Highveld") where he was
appointed Assistant Technical Manager at the Vantra Project in South Africa.
During his tenure with Highveld, Mr. Ford developed an innovative change to
the process chemistry used in the production of V2O5 which allowed for a
major increase in production at a significant reduction in operating costs.
Mr. Ford later went on to become Assistant General Manager of Highveld and a
member of the Highveld Executive Committee.
Since 1989, Mr. Ford's expertise has
been consulted for several major vanadium projects, including, the Rand Mines
Vansa vanadium plant where Ford was appointed Managing Director and
successfully redesigned and commissioned the plant, making Rand Mines Vansa
one of the lowest cost producers of V2O5 in the world.
Mr. Ford has also held senior positions
with Xstata Alloys, Precious Metals Australia, and Windimurra where he has
similarly been appointed to evaluate and reform production processes and to
appraise potential ventures in the vanadium industry.
Stated Mark Brennan, President & CEO
of Largo Resources, "We are extremely excited to have Mr. Ford join the
Largo team. Not only do we see it as a validation of the merits of Maracas,
but we also believe it gives us a tremendous competitive advantage with
respect to Largo's knowledge base of Vanadium production processes, global
reserves and technology."
Largo is also pleased to announce the
appointment of Ms. Darcie Ladd to the position of Business Development
Manager. Ms. Ladd has an Honours Bachelor of Arts from the University of
Ottawa and has previously worked as a consultant for several other listed
issuers in the resource and mining sector. Ms. Ladd was granted 100,000
options of the Company upon her appointment. The options have an exercise
price of $0.395 and shall expire five years from the date of grant. The
options shall vest immediately, subject to the four month regulatory hold
period. The grant of options is subject to regulatory approval.
About Largo
Largo is a Canadian-based mineral
resource exploration and development company focused on creating a world
leading strategic metals company. The Company currently holds an 80% interest
in the Maracas Vanadium Project, 100% interest in the Currais Novos Tungsten
Tailing Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium
Project, all in Brazil, and a 70% interest in the Northern Dancer
Tungsten-Molybdenum property located in the Yukon Territory, Canada. The
immediate goal of the Company is to develop the Maracas Vanadium Project by
Q1 2013 and begin production of WO3 concentrate from the reprocessing of
tungsten tailings from Currais Novos by June, 2011. Largo has a very skilled
management team both in Canada and Brazil with the ability to advance these
projects.
Largo is a publicly listed company on
the TSX Venture Exchange under the symbol LGO. For more information please
refer to Largo's website: www.largoresources.com
Mr. Tim Mann, an officer of the Company,
is the Qualified Person as defined under National Instrument 43-101
responsible for the scientific and technical disclosure in this press
release.
Cautionary Note
This press release contains
forward-looking information under Canadian securities legislation.
Forward-looking information includes, but is not limited to, information with
respect to the anticipated impact of the appointment, the timing and amount
of estimated future production, development and exploration; costs of future
activities; capital and operating expenditures; and success of exploration
activities. Generally, forward-looking information 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".
Forward-looking information is based on the opinions and estimates of
management as of the date such statements are made. Estimates regarding the
anticipated impact of the appointment are based on previous professional
achievements and competencies. Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Largo to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to those risks identified by the
Company in its annual information form as filed under the Company's profile
on SEDAR. Although management of Largo has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such Information. Accordingly, readers should not place undue reliance on
forward-looking information. Largo does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.
NEITHER THE TSX VENTURE EXCHANGE (NOR
ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contact:
Darcie Ladd
Largo Resources Ltd.
Business Development Manager
(416) 861-5938
dladd@largoresources.com
Mark Brennan
Largo Resources Ltd.
President & CEO
(416) 861-5886
mark@largoresources.com |
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