Largo Resources Ltd. announced that it has negotiated a formal extension of the term during which it can purchase the 30% interest it does not already own at the Northern Dancer Tungsten-Moly deposit in the Yukon Territory. Largo currently holds a 70% interest in the Northern Dancer project.

In consideration for the extension, the Company has made an initial deposit of $200,000 to Strategic Metals Ltd. that will be counted towards the payment of $5 million that Largo will have to make by March 11th, 2011 for Largo to take its interest to 100%