Ragusa Minerals Limited advised progress towards commencement of the maiden drilling program at the NT Lithium Project, with completion of site preparation earthworks, including access track and drill pad clearing. Executive Director Olaf Frederickson and the Company's project team conducted the recent site trip to arrange the site works, using a local Daly River contractor ahead of the upcoming drilling program. During the site visit, additional reconnaissance and sampling was undertaken, with new pegmatite occurrences identified, in addition to the known mapped pegmatite outcrops.

A newly identified pegmatite of ~150m outcrop width was found along the eastern edge of the project area, to the north of the White Rocks prospect. Sample SM018 collected from the exposure returned a strongly anomalous lithium grade consistent with what would be expected from a depleted lithium-bearing pegmatite outcrop. It is not known if the intersection represents the true width of the pegmatite.

Further inspection of some of the known pegmatite outcrops highlights the presence of strong lithium indicator minerals, such as albite feldspar and more of the same suspected weathered spodumene crystals within clearly zoned pegmatites - up to an estimated 30m wide outcrop. 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.