STELLAR RESOURCES LIMITED — AGM Information 2009

Nov 25, 2009

STELLAR RESOURCES LIMITEDSTELLAR RESOURCES LIMITED

AGM Presentation AGM Presentation26 November 200926 November 2009

Peter Blight Peter Blight Chief Executive Officer Chief Executive OfficerChris Anderson Chris Anderson Executive Director Executive DirectorTom Burrowes Tom Burrowes - Chairman Chairman

Forward Looking Statement

This presentation contains only a brief overview of Stellar Resources Limited ("Stellar") and its activities and operations. The contents of this presentation, including matters relating to the geology of Stellar's projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which may not have been subject to any independent verification.

This presentation may contain a number of forward-looking statements. Known and unknown risks and uncertainties, and factors outside of Stellar's control, may cause the actual results, performance and achievements of Stellar to differ materially from those expressed or implied in this presentation. To the maximum extent permitted by law and stock exchange listing rules, Stellar does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Stellar, and will not be responsible for any loss or damage arising from the use of the information.

Company Profile

• Listed on the ASX in 2005. Code: SRZ

• Exploration and development company

• Experienced and successful management team

• Asset base centred in South Australia and Tasmania

• Key deposits:

  • Magnetite iron ore in South Australia
  • Uranium in South Australia
  • High-grade tin in Tasmania

• Exploration potential:

  • Metals – copper, gold, zinc and nickel

Our Objectives - 2010

• Advance iron ore resource definition to validate 700 million tonne exploration target
• Identify uranium grade and quantify the exploration target for the Pirie Basin
• Unlock value in the Heemskirk Tin project

Priority Project – Tarcoola Magnetite

100% owned by Stellar

• Large magnetite deposits – 700mt target
• 10km from Trans-Australian Railway
• Railway links project to proposed bulk ore terminal at Port Bonython
• Closest of the central SA iron ore projects to rail and port
• Outside of Woomera Prohibited Area

Tarcoola Magnetite Deposits

Tarcoola Iron Ore – Outcomes 2009

• Coolybring drilling identifies an exploration target of 500 million tonnes at a 35% Fe grade
• Preliminary mining studies show satisfactory costs at an overall waste to ore ratio of 1.44:1.00
• Standard blast furnace concentrate production demonstrated at bench scale
• Possible ground water targets identified within 100km of Tarcoola
• Competitive rail freights evident from model simulations

Tarcoola Iron Ore – Program for 2010

Ground magnetics and gravity surveying to define drill targets – December 2009

Stage 1 drilling comprising 1,500m of RC – March quarter 2010

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RC samples assayed and tested using Davis Tube Recovery – March/June quarter 2010

Uranium Projects - WHY??

• there are proposals for over $20$ new masters and the first 17 combined construction. Line DIA and operating homose for these have been applied for. All are for late third-generation plants, and a further proposal is for two ABWR units.
• there are plane to build up to 3000 MWB of new capacity in Ontario, and proposals for similar capacity in Alberta and one resolute in New Brunswick. La Canada
• construction is now under way on a field, way large mector which will come on line in 2012, and plans on firming for another large case to follow it. in Finland
• is building a similar 1600 MWs unit at Flamenville, for operation from 2012, and a Trace send is to failure it.
• TIK. flour studier 1600 MWs units on planned for operation by 2019, and a further 6000 MWe is proposed.
• second power mester stated up in 2007, and plans am being implemented fighters Romanda v further Canadian write
• is completing two 478 MWs came at Monkowns, to operate from 2011-12. وأتأدهم
• Bulmoin is shoul to start building two 1888 M.W. Russian mestors at Balana.
• Ruscia. stalazzo zeasteze en underestivo construction, coe being a large fast neutron. matter, Seven for the section of the planned in a planned and the plants, and a plant and the plants and the planned in the planned in the section of the planned in the planned in the section of the section of the planned
• Sends Karna plans to bring a further sight measure into speculing by 2014, giving total new corporty of 9200 billige. The first flow, now under construction, are improved OPR-1000 designs.
• has the markets under construction and another four thinly to start building in 2010. It also has place and through the cad encouraged that thing in 2010. It also has place and, in most cases, designated sides and concerns متوازي come on line by 2020.
• In China now with sleven operating reactors on the mainland, the country is well into the next phase of its number power program. So in 72 more in here where we derconstruction or likely to be so by the end of 2009. These moinds the world's first contributions AP1000 units and educated pink in the temperature gas-cooled mestor plent. And there I waits are plasme I with construction due to start within three venue

Q "THE" low carbon, base load fuel

□ Weapons material removed from supply $\Box$ Mine supply shortfall

BOURGE - WORLD NUCLEAR ABBOGLATION

Stellar – S.A. Tenements and Uranium Projects

Warrior / EL3369W

• Tarcoola /Kingoonya Palaeochannel (SRZ 100%, USA earning 70%)
• Cowell / Pirie Basin EL4242 – USA earning 73% EL3978 – SRZ 100% (both subject to REX 2% royalty)
• Excellent potential for further growth in Stellar's uranium assets

Stellar - UraniumSA Pirie Basin

• $\Box$ Extent and stratigraphy Not well known - largely offshore
• $\Box$ Comparable to the Frome Basin
• Q Uranium endowment in Gawler Craton source regions - Hiltaba granites

Uranium – Southern Pirie Basin An Exciting Target

UraniumSA has a 2,700t initial inferred U3O8resource at Mullaquana

USA to explore EL 4242 (SRZ 100%, USA earning 73%)

Stellar has reported anomalous uranium values in basement rocks in the adjoining EL3978

Schematic Geological Section –Southern Pirie Basin

Section based on drilling by CRA Exploration in 1978 and SRZ in 2006

Advancing Pirie Basin Uranium

AEM survey to define basement contact with uraniferous Eocene sand on EL3978 – January 2010

Initial rotary mud drilling program across the contact – March Quarter 2010

Aim is to define high grade U 3O8 within the sedimentary roll front with an initial target of 5,000 tonnes of U 3O8

Warrior Uranium

Largest channel-hosted uranium deposit discovered to date in the Gawler Craton

Toro Drilling Very Focused on Areas "A" and "B"

Warrior Uranium

"AREA A" – narrow high grade ribbon

Relationship to channel margins not clear

Exploration potential for further narrow high grade resources

Warrior Uranium

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"..program of drilling the highly prospective Warrior palaeochannel south of the rail line is being planned. The interpreted 2006 AEM survey data for this area suggests uranium trap areas (pinch outs) and an extensive lagoonal depositional area exists in the tenement." – Toro Annual Report.

Heemskirk Tin – Strategic Review

• 60% owned Heemskirk Tin Project plus 100% owned St Dizier Tin Deposit
• Heemskirk is largest undeveloped high grade tin resource in Australia
• Located next to well established infrastructure
• Tin concentrator 18km away at Renison Bell
• Yunnan Tin Group buying into the area
• No serious review of the project for 20 years
• Tin price has recovered to US$15,000/tonne

Heemskirk Tin – Strategic Review

Drilling deep beneath the known deposits could substantially upgrade the size of the project

Potential for high-grade development within the Queen Hill deposit requires in-fill drilling

Tin requires a single focus by a specialist team

What will Stellar deliver in 2010?

Demonstrate potential for at least 700 million tonnes of magnetite banded iron within the Tarcoola Project

Demonstrate uranium grade and tonnage potential in the southern Pirie Basin

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Unlock value in tin assets

Competent Person Statements

The drill and exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr C.G. Anderson (Fellow of the Australasian Institute of Mining and Metallurgy) who is a Director of the Company. Mr Anderson has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2004 Edition). Mr Anderson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. It should be noted that the abovementioned exploration results are preliminary.