Ragusa Minerals Limited provided an update on drilling operations at the NT Lithium Project ­ located in the highly prospective Litchfield Pegmatite Belt in Northern Territory, approximately 120km south of Darwin. The drilling program is targeting lithium bearing pegmatites beneath the weathering profile ­ evident at the Core Lithium Project located to the north. The Company has currently completed eight RC drillholes for a total of 719m drilled.

Several of these drillholes have intercepted pegmatite of significant thickness at varying depths, providing greater understanding of pegmatite morphology within the project area and assisting with pegmatite delineation. Geological logging in multiple drillholes has reported a substantial amount of "apple-green crystals" within the pegmatite (and are yet to be classified), but are of major interest given beryl, spodumene and amblygonite all commonly exist as a green crystals within LCT (lithium-bearing) pegmatites. The drilling to date has confirmed the presence of shallow depth pegmatites within the Company's project area.

The Company is planning to complete sufficient RC drilling during this initial phase program to attain necessary geological data to delineate an exploration target (or targets) (subject to analysis results). The Company's approved Mining Management Plan for Exploration Activities (MMP) allows for up to 38 drill sites, plus additional drilling in pre-approved designated areas. The Company plans to continue RC drilling until the wet season prohibits further site access and operations, and will then, subject to regulatory approval via an MMP variation, seek to continue the drilling program during the wet season via diamond drilling operations (subject to drill rig access).