Largo Physical Vanadium Announces Director Resignation

Largo Physical Vanadium Corp. ("

LPV

" or the "

Company

") (

TSX.V: VAND

) (

OTCQX: VANAF

) announces that it has accepted the resignation of Justin Reid from the Board of Directors (the “

Board

”) of the Company effective July 10, 2023.

Jonathan Lee, Chairman of the Board of LPV commented: “Justin has been a valuable member of LPV’s Board, and we have benefitted greatly from his knowledge and decades of experience. On behalf of the Board, management and the Company's shareholders, I wish Justin and his family all the best in the future."

The Board is actively engaged in identifying and evaluating alternatives with respect to the appointment of a new independent director to fill the vacancy left by Mr. Reid’s departure.

About Largo Physical Vanadium Corp.

Largo Physical Vanadium Corp. (LVP) aims to provide a secure, convenient and exchange-traded investment alternative for investors interested in having direct exposure to physical vanadium, which is essential to achieve a greener world in key industries such as steel, aerospace and energy storage. Vanadium is non-degrading and fully recyclable when used as electrolyte in vanadium redox flow batteries (VRFBs) and offers carbon reducing attributes when used in steel alloying applications. LPV’s strategy is not only to achieve appreciation through the acquisition of vanadium, but to own and actively supply vanadium to end users of VRFBs to advance to integration of renewable energy in long duration storage. This strategy is integral to LPV’s business plan, as it necessarily defrays the costs associated with using vanadium in VRFBs through the unique non-degradation characteristics of the metal.

LPV’s common shares trade on the TSX Venture Exchange under the symbol "VAND”. For more information, please visit www.lpvanadium.com.

For further information, please contact:

Paul VollantChief Executive Officer [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.