STELLAR RESOURCES LIMITED — AGM Information 2006

Nov 14, 2006

Stellar Resources Limited Chairman's Address

AGM November 2006

Ladies and Gentlemen,

It is with pleasure that we hold today the second Annual General Meeting of Stellar Resources as a publicly listed company. In the two short years since our creation, we have enjoyed a period of significant and fruitful activity and built a solid platform of projects. The backdrop of a world wide boom in resources, with record prices for most metals, gives us continuing cause for optimism.

Some highlights of the past, very busy, year are:

• Advancing our numerous, quality exploration projects in our quest for the discovery of world class orebodies
• Outlining the Alpine copper project in western Tasmania. Five drill holes have indicated potential for a substantial new copper deposit.
• Increasing our exposure to the uranium energy sector
• Accepting joint ventures from respected industry players over several of our assets, where the incoming parties are spending substantial sums on our behalf whilst we retain very meaningful upside
• Since year end, being the major sponsor of the newly created uranium company - Uranium SA Ltd. Our shareholders who accepted the priority offer for shares in the IPO of USA are now sitting on very useful capital gains. In addition, Stellar itself holds over 10m USA shares.
• Being keenly and actively involved in what we call the "South" Australian Copper Belt" – where new discoveries are providing much excitement.
• Steadily progressing the Goldfinger zinc project with drilling and new gravity inversion.

Not all exploration is successful and we therefore relinquished several projects which we considered either lacked sufficient prospectivity or were beyond an acceptable risk/reward profile.

We move steadfastly towards our goal of making valuable discoveries of minerals.

Uranium

Stellar is an active participant in this newly revived and exciting sector. We hold a large tenement position in central South Australia - the preferred uranium state. S.A. actually allows U exploration and mining and is not subject to possible changes in policy.

Our Joint Venture partners include Toro Energy and Uranium SA - who bring long industry experience together with enthusiasm, expertise and focus to these projects. Toro will be actively exploring our Warrior tenements where prior drilling has deomonstrated the presence of palaeochannel uranium. Stellar retains a meaningful 30% equity...a great involvement for our shareholders.

We are delighted to have been key supporters of the newly listed Uranium SA Limited and retain a key shareholding and JV interest.

We are expecting substantial "on ground" activity with our partners this year and we remain firmly exposed to the exciting uranium sector.

TOCG

Stellar holds a large ground position in what I like to call the highly prospective "South Australian copper belt". These are iron oxide copper gold style (IOCG) deposits. Olympic Dam is obviously the flagship - a wonderful pioneering discovery in the mid 1970s by WMC. More recent discoveries now prove that it does not sit in isolation. Prominent Hill. Carapateena and now Punt Hill continue to demonstrate the fertility of this "copper belt" – and this region is a high priority for Stellar. The limits of this belt are not well defined.

Importantly, the application of gravity technology as a method of effective targetting is advancing at rapid pace.

Our JV partners are presently drilling at Robins Rise, west of Prominent Hill and we watch progress with excitement.

We recently acquired a new IOCG project at Cowell, via a JV with Avoca Resources, at the southern end of this key belt.

Goldfinger

Goldfinger is a flagship project for Stellar Resources. It is our most advanced and exciting FALCON® inspired target. We conducted two rounds of drilling on this large target and obtained further evidence of zinc mineralisation in Broken Hill style rocks. The latest inversion of the FALCON® gravity data has given us new insights and the present MIMDAS (IP) survey is aimed to give us more precise targeting for the next round of drilling.

Importantly, our strategic alliance with the "big Australian" has been strengthened as it has agreed to assist us in accelerating Goldfinger by contributing directly into the new phase of our earn in. Having earned a 51% interest, Stellar is now working towards a 60% interest.

Tasmania

The west coast of Tasmania is a fabulously well endowed geological province and a very positive area in which to explore and discover, develop and mine. We were fortunate enough to position ourselves into the west coast early in the cycle.

Alpine copper has led our Tasmanian charge since the April announcement of $22m \omega$ 1.23% Cu in drill hole AP-004. This was within a broader zone of $95m$ @ 0.45% Cu - a very wide and interesting zone indeed! Three subsequent drill holes are showing wide zones at around half a percent copper. We would obviously prefer higher grades – and drilling may yet deliver such – but the width and size, coupled with very favourable logistics, still give us an excellent chance of commercial success. It is still very early days at Alpine.

We also have intersected some low grade zinc at Arthur Dam, which requires further assessment. We have nickel and tin targets vet to test and we recently acquired the Dundas ground, considered prospective for Avebury style nickel.

Stellar holds majority title to the North Heemskirk tinfield, with a number of advanced projects, including St Dizier. Watch out for a tin price rally!

Our other projects in Victoria, N.S.W. and S.A. – including iron ore and base metals and gold - continue to be worked up. We remain alert to new opportunities which fit our strategy...the recent acquisitions bear testimony to this.

On behalf of the Board, I wish to record sincere thanks and appreciation to our hard working staff and consultants and contractors who are putting in 200% in this very exciting $-$ but extremely busy - time.

And of course – a special thank you to all the Stellar shareholders, whose support and loyalty is a critical factor in our developing success.

We look forward to an active and successful year ahead.

T J Burrowes 15 November 2006