STELLAR RESOURCES LIMITED — AGM Information 2008

Nov 13, 2008

Stellar Resources Limited

AGM 14 November 2008

Ladies and Gentlemen,

As we all know only too well, this past year has been most difficult. Whilst we have shown proactivity in response to the world wide crisis acting decisively in the emerging gloom - sadly, this has not prevented a falling share price. We are suffering the present fallout in global credit and equity markets along with our peers.

Since our last AGM, our focus has moved towards the more advanced projects as we curtailed our higher risk "greenfields" spending. This has preserved important capital and reflects the new risk regime now operating.

We have reduced our administration costs – including at Board level and we continued to joint venture out some of our projects to other explorers. This reduces our risks, whilst retaining significant upside for our shareholders in the event of a discovery.

We added substantially to our tin projects via the acquisition of the quality Heemskirk Tin project at Zeehan Tasmania, which was slated for the IPO of Columbus Metals Ltd. Unfortunately, market conditions forced the postponement of this IPO.

We opened effective communication with potential offshore investors – including interests associated with Chinese companies - to advance our iron ore and we have been able to raise fresh equity in difficult times to continue with the drill assessment at Tarcoola. These raisings reflected well as to the quality of the project.

Tarcoola Iron

This is shaping up to be a large deposit and deserves our priority focus.

We remain optimistic for the size and quality of the Tarcoola iron ore magnetite deposit, located in South Australia - a state which actively encourages the mineral industry. We know that this will take some time, but we aim to be well positioned when the timing is right.

We are presently drilling and our CEO Mr Peter Blight will give a more detailed presentation.

Tasmanian Tin

The quality of our exposure to tin improved with the acquisition of the majority interest in the Heemskirk Tin Project earlier this year. Tasmania is a fabulous place to be and it is very especially well serviced with infrastructure and has a pro-mining culture. The west coast of Tasmania offers ready access to water, power, roads and rail, people, expertise.

Importantly we have a drilled resource – a great asset in a commodity of growing interest for its non toxic properties.

Whilst the IPO of Columbus is postponed, we are receiving approaches from private interests currently being assessed.

Our drilling activity

During the year we drilled at Pernatty, Cowell, Sunshine in S.A. We retain an excellent land position in what we call the "South Australian Copper Belt", where we know more discoveries will be made. The question remains "when and by whom?"

In Tasmania we drilled two more holes at the tantalising Alpine copper project, but these holes returned unexciting results. However, the Alpine copper project remains alive, as we have many modest grade copper intersections over excellent widths.

We hold other exciting projects – including Magnet base metals – ready for improved markets.

Goldfinger

We increased our equity in the Goldfinger base metals project with drilling and intersected some shallow copper, worthy of follow up. Corporate activity within a JV partner contributed to various delays.

This project remains alive and the shallow copper presents an excellent target for follow up.

Joint Ventures

Our JV partners worked diligently on our behalf and we appreciate this extra it gives us, with no risk to Stellar shareholders.

UraniumSA continues to work our Tarcoola ground for uranium and we are the largest shareholder in this active and focussed company. Toro Energy is conducting good work on the nearby Warrior EL.

Red Metal has been active (including drilling) on Olympic Dam style targets at Robins Rise in S.A., but with no especial outcomes. Late in the year we signed with Carpentaria Exploration to further our assessment of the gold potential at our Panama area, south of Broken Hill and its initial sampling has returned encouraging results.

Summary

Over the past year our focus changed towards more advanced projects. As the world economy slowed down, we have reduced costs, including at Board level.

We have acquired an excellent tin project in Tasmania and we are advancing the Tarcoola iron ore project.

We expect the next year to remain subdued. But all downturns eventually end and we are working on being "at the ready". We will do our best to preserve value where we can - and importantly add value in a cost effective way.

On behalf of the Board, I wish to record sincere thanks and appreciation to our hard working staff, consultants and contractors who have showed commitment and dedication during the year.

And of course – a special thank you to you - the Stellar shareholders, owners of this business. In these difficult times the Board expresses greater thanks for your support and loyalty.

T J Burrowes Chairman

		le required majority of votes were cast against that item					* Note that votes relating to a person who abstains on an item are not counted in determining whether or not th
Passed on ashow ofhands	Passed on ashow ofhands	Passed on ashow ofhands		313,051	234,102	10,434,652	4. Approval of previous issue of shares
Passed on aShow ofhands	Passed on ashow ofhands	Passed on ashow ofhands		1,605,463	36,765	17,719,743	3. Reeperton of Thomas J. Burrowes as aDirector
Passed on ashow ofhands	Passed on ashow ofhands	Passed on ashow ofhands	$\mathbf{I}$	1,545,463	11,765	17,804,743	2. Re-election of Christopher G. Anderson as aDirector
Passed on aShow ofhands	Passed on ashow ofhands	Passed on ashow ofhands	ı	1,545,463	973,597	16,832,969	(non-binding advisory vote only)1. Adoption of Director's Remuneration Report
Abstain**	Against	Ęor	AbstainVotes	DiscretionaryVotes	AgainstVotes	VotesĘ	Resolution:
	Manner in which votes were cast in person asby proxy on a Poll (where applicable)		roxy	Manner in which the securityholder directed the proxy vote (as at P		close):
							each resolution on the agendaAs required by section 251AA(2) of the Corporations Act 2001 (Cwlth) the following statistics are provided in respect of
					14 November 2008
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