Ragusa Minerals Limited announced that it has received notification from the Northern Territory's Mineral Titles office that the Company's 100% owned tenement EL33150 has been granted - part of the NT Lithium Project ("Project"), located ~60 kilometers south of Darwin. EL33150 was granted on 16 September 2022 for a period of 6 years. The Company identified the highly prospective tenement (and associated project area), as prospective for lithium from historical geological mapping works and the interpreted continuation of the geological rock-types found in the neighboring lithium projects, indicating a high level of lithium prospectivity throughout the region.

The Company's NT Lithium Project area hosts hard rock lithium prospects, within the Litchfield Pegmatite Belt - host to discoveries including the neighboring Core Lithium Finnis Project, Lithium Plus, Charger Metals and others. Lithological units found within the Company's Project areas all contain predominantly Burrell Creek Formation sediments adjacent to Late Proterozoic undifferentiated granites, providing the appropriate geological setting to contain LCT pegmatites. The Company's tenements are located within this lithium exploration province.

The Company will now engage with key stakeholders in the project area prior to conducting exploration works targeting outcropping pegmatite rocks and/or potential buried targets using a combination geochemical sampling, extrapolation of known/outcropping targets (outside the Company's tenure) but along strike, and remote sensing with geophysical techniques previously found to be successful in district. A detailed lithium exploration program will then be developed to prepare and submit a Mini Management Plan for Exploration (MMP) seeking approval to conduct exploration and drilling works the tenement area.