RAGUSA MINERALS LTD — Capital/Financing Update 2021

Jul 4, 2021

Announcement Summary

Entity name

RAGUSA MINERALS LTD

Announcement Type

New announcement

Date of this announcement

5/7/2021

The Proposed issue is: A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +security code	+Security description	Maximum Number of+securities to be issued
New class-code to beconfirmed	Unlisted options expiring 3 years from date of issue	2,000,000
New class-code to beconfirmed	Unlisted options expiring 2 years from date of issue	2,000,000
RAS	ORDINARY FULLY PAID	6,153,847

Proposed +issue date

19/8/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of +Entity

RAGUSA MINERALS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ACN

143194165

1.3 ASX issuer code

RAS

1.4 The announcement is

New announcement

1.5 Date of this announcement

5/7/2021

1.6 The Proposed issue is:

A placement or other type of issue

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes

7A.1a Conditions

Approval/Condition +Security holder approval Date for determination 18/8/2021

Is the date estimated or actual? Estimated

** Approval received/condition met?

Comments

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

RAS : ORDINARY FULLY PAID

Number of +securities proposed to be issued

6,153,847

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash
consideration being paid?

AUD - Australian Dollar

What is the issue price per +security? AUD 0.06500

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation fromASX that the terms of the proposed+securities are appropriate andequitable under listing rule 6.1?No	Will the entity be seeking quotationof the 'new' class of +securities onASX?No
ASX +security code	+Security description
New class-code to be confirmed	Unlisted options expiring 3 years from date of issue
+Security typeOptions
Number of +securities proposed to be issued
2,000,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?Yes

In what currency is the cash consideration being paid? AUD - Australian Dollar What is the issue price per +security? AUD 0.00001

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Options details

	+Security currency	Exercise price	Expiry date
	AUD - Australian Dollar	AUD 0.1200	19/8/2024
	Details of the type of +security that will be issued if the option is exercisedRAS : ORDINARY FULLY PAIDNumber of securities that will be issued if the option is exercisedOne fully paid ordinary share (ASX:RAS)
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securitiesproposed to be issued or provide the information by separate announcement.
	Is the proposed security a 'Newclass' (+securities in a class that isnot yet quoted or recorded by ASX)or an 'Existing class' (additionalsecurities in a class that is alreadyquoted or recorded by ASX)?New class	Will the proposed issue of this+security include an offer ofattaching +securities?No
	Details of +securities proposed to be issuedISIN Code (if Issuer is a foreign company and +securities are non CDIs)
	Have you received confirmation fromASX that the terms of the proposed+securities are appropriate andequitable under listing rule 6.1?Yes	Will the entity be seeking quotationof the 'new' class of +securities onASX?No
	ASX +security code	+Security description
	New class-code to be confirmed	Unlisted options expiring 2 years from date of issue
	+Security type
	Options
	Number of +securities proposed to be issued2,000,000
	Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Incentive options issued to directors and officers of the company.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

27,811.000000

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.1200	19/8/2023

Details of the type of +security that will be issued if the option is exercised

RAS : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX:RAS)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 7C - Timetable

7C.1 Proposed +issue date 19/8/2021

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 18/8/2021

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Vert Capital Pty Ltd

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

a) Lead manager fee of 6% plus GST of the total funds raised under the Placement; b) Issue of 2,000,000 options with an exercise price of $0.12, expiring 3 years from date of issue.

7E.2 Is the proposed issue to be underwritten?

No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Funds raised under the Placement will enable RAS to finalise the acquisition of the Monte Cristo Gold and Burracoppin Halloysite projects, and for general working capital.

Director options issued as a performance linked incentive to directors and officers.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)