Ann: NT Lithium Project Update, page-3

The continued positive results from ongoing field sampling combined with the increasing number of drill targets from both new pegmatite bodies and extensions to existing outcrops, together with continued identification of LCT indicator minerals gives the Company increasing optimism for the potential of a major new discovery beneath the superficial weathering surface.

The Company’s joint venture partner - May Drilling, indicates commencement of the drilling program is expected next week (following completion of their current drilling works). Ragusa’s planned drilling program is targeting pegmatite beneath the weathering profile - evident at the Core Lithium Project located to the north, with the aim to test several of the known pegmatites. The Company plans to drill the most prospective pegmatites with a view to defining a maiden mineral resource for the project.