RAGUSA MINERALS LTD — Capital/Financing Update 2021

Dec 20, 2021

December 21[st] 2021

ASX ANNOUNCEMENT

Restricted Securities to be Released from Escrow

In accordance with ASX Listing Rule 3.10A, Ragusa Minerals Limited (ASX: RAS) advises that the following securities will be released from escrow on 31 December 2021:

• 4,999,999 unlisted first milestone shares;

• 4,999,999 unlisted second milestone shares; and

• 8,160,483 unlisted options exercisable at $0.09 (expiring 31 December 2022).

Yours faithfully,

==> picture [106 x 47] intentionally omitted <==

Melanie Ross

Director/Company Secretary

This announcement has been authorised by Melanie Ross, the Company Secretary.

For more information on Ragusa Minerals Limited and to subscribe for regular updates, please visit our website at www.ragusaminerals.com.au or contact us via admin@ragusaminerals.com.au.

For further information:

Jerko Zuvela Chairperson T | +61 8 6188 8181 E | admin@ragusaminerals.com.au W| www.ragusaminerals.com.au

1