STELLAR RESOURCES LIMITED — AGM Information 2010

Nov 25, 2010

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STELLAR RESOURCES LIMITED
AGM Presentation
November 2010
CEO Peter Blight
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I would also like to add my welcome to that of the Chairman and say that it is indeed a pleasure to present to you today on the excellent results that Stellar has achieved in 2010 and the exciting outlook faced by the company in 2011.

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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.

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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.
Competent Person’s Statement
The drill and exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr
R.K. Hazeldene who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hazeldene 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 Hazeldene 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.
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First our company disclaimer and competent person’s statement.

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Corporate
� ASX Code: SRZ (listed in April, 2005)
� Shares on issue: 94.8M
� Share price: 16c (12 month range: 4-24 c)
� Market capitalisation: $15.2M
� Cash: $1.8M (Sep 10)
� Investment: $1.5M (USA shareholding)
� Ownership structure: Top 20 - 31%
Board/Management - 5%
Private investors - 95%
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Stellar is currently trading at a share price of 16 cents representing a market capitalisation of $15 million. The company has a cash position a little lower than the $1.8 million balance at the 30 September and has a shareholding in UraniumSA that is now valued at $1.5 million. The shareholder base is made up of private investors with the top 20 owning 31% of the company.

Achievements in 2010

• Excellent drilling results at Heemskirk tin project - confirms potential for development

• Stellar focused on Tasmanian tin assets

• Exploration portfolio enhanced with additional Tasmanian EL

• Iron Ore Information Memorandum completed & development partner sought

• Pirie Basin Uranium exploration joint ventured to high quality partners – early results encouraging

• IOCGU exploration in South Australia joint ventured to AngloGold Ashanti

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Stellar had a rewarding year in 2010 with many achievements and strong progress in advancing the Heemskirk Tin Project in Tasmania toward development.

The success of drilling at Heemskirk also focused attention on Stellar’s significant portfolio of Tasmanian tin assets particularly given that many of them lie in close proximity to Heemskirk.

The company also enhanced its Tasmanian exploration program with the addition of the Huskisson licence in an area considered to be highly prospective for Voisey’s Bay style nickel.

The Tarcoola Iron Ore Project advanced with completion of an information memorandum that was distributed to a number of interested investors. In addition, drilling at the satellite Hicks Hill deposit demonstrated it to be a potentially valuable addition to the portfolio.

Uranium exploration properties in the Pirie Basin are now joint ventured to high quality partners. Likewise the company is fortunate enough to have attracted a partner of the calibre of AngloGold Ashanti to explore its iron ore copper gold targets in central South Australia. The joint ventures allow Stellar to increase its focus on tin.

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Strong Tin Market
� Strong global demand growth of 9% in 2010
� Supply interruptions in Indonesia
� Supply down by 47% to 14,295t since January
� Price up 47% to US$24,300/t year to date
30,000 30,000
Tonnes US$/tonne
25,000 25,000
20,000 20,000
15,000 15,000
10,000 price responding 10,000
to stock reduction
5,000 LME Stocks 5,000
LME Price Source: UBS
- -
5 1/09/2009 1/10/2009 2/11/2009 2/12/2009 6/01/2010 5/02/2010 9/03/2010 12/04/2010 13/05/2010 15/06/2010 15/07/2010 16/08/2010 16/09/2010
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I would now like to say a few words about the tin market a key driver of investor interest in tin assets.

Solder has replaced can sheet as the major end use and China’s high growth electronics industry has and will continue to drive solder use. In addition, legislated prohibition of lead use in solder by the US and some European countries has underpinned the growth in tin use by this sector. The strong rebound in demand growth this year probably includes some consumer restocking.

On the supply side, the industry has consolidated to two major suppliers, China and Indonesia, with little exploration over the last 20 years and no significant new mines coming into the market. In 2010, Indonesian production has declined significantly resulting in a 47% decline in LME stocks as consumers sought to bridge the shortfall.

The tin price has responded strongly to the shortage, rising 47% in the year to date to US$24,300/tonne. The sustainability of this price improvement is supported by the rapid reduction in LME stocks.

Great Location & multiple deposits

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• 60% owned Heemskirk plus 100% owned St Dizier tin deposits

• Significant mining district

• Easy access to water & power

• Sealed road between both deposits

• Rail & road connect to port of Burnie

• � 18 km from Renison tin concentrator

• Yunnan Tin Group buying into area

• No serious project review for 20 yrs

EXTENSIVE TIN FOOTPRINT

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Stellar owns 60% and is the operator at the Heemskirk Tin Project with joint venture partner Gippsland Limited. The project is located on the outskirts of Zeehan on Tasmania’s west coast. In addition, 20 kilometres to the north-west of Zeehan lies Stellar’s 100% owned but smaller St Dizier tin project.

Location is important. Heemskirk is located on the edge of a mining town – there are 4 operating mines within 30 kilometres of the town, power and water lie on the doorstep, a railway to the north coast is within 18 kilometres and the port of Burnie lies 130 kilometres to the north at the end of the railway or by a sealed road.

Renison Bell, Australia’s largest tin producer is within 18 kilometres of Heemskirk and could provide a processing option for the project. In addition, Yunnan Tin the largest tin producer in the world is now a 50% owner of the Renison Bell mine and should bring its expertise and desire for additional resources to the district.

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Extensive Tin Position
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Stellar’s strong tin asset position is shown in this tenement map of western Tasmania.

The Heemskirk project lies within the purple area defining RL5/1997 Queen Hill with the yellow dots extending to the northwest

representing tin anomalies that remain to be properly drill tested. The company’s St Dizier deposit is identified by a red dot and

the Gourlays prospect which is scheduled for drilling as soon as a rig can be mobilised is identified by the northeastern most yellow dot.

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Drilling at Queen Hill
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In June, Stellar commenced a six hole drilling program at Queen Hill one of three deposits in the Heemskirk project and the one that outcrops. The purpose was to test the more sparsely drilled near surface mineralisation. In addition, the fresh assay results could be used to in-fill the data base and allow an update of the resource estimate to JORC standards.

Fresh sampling also provides the opportunity to more extensively test the metallurgy and consider the different processing options.

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Results Enhancing
Historical Figures
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This long-section shows the position of the Stellar holes ZQ93 to ZQ98 relative to the historic drill holes.

The results are very pleasing with all holes intersecting high grade mineralisation over potentially mineable widths. ZQ96 provided the best result with a down-hole intersection of 21m grading 0.8% tin from a depth of 86m. Within this zone a 3m intersection graded 1.9% tin indicating continuity of high grade mineralisation encountered in historic drill holes ZQ1,3 and 4.

ZQ93 and 94 also show that mineralisation of good grade continues southwest of the high grade envelope defined by Aberfoyle providing an opportunity to add tonnage in this direction.

Its also important to note that the assay results showed negligible acid soluble tin implying that the mineralisation is in the form of cassiterite rather than the more difficult to treat tin mineral stannite.

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Stellar - Highest Grade
Gold Equivalent Grade Versus Tonnage
10.0
9.0
8.0
SRZ high grade
7.0
6.0
KAS
5.0
4.0
CSD
3.0
2.0
VMS
1.0
0.0
0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000
Gold Resource Ounce Equivalent
10
Gold Grade Equivalent g/t
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Many investors have asked what makes a good tin project ? And the answer is the same as for any other project – tonnage and grade. However, in the case of tin with few listed opportunities for investors the question becomes what is an attractive tonnage and grade. To answer that question in terms that can be understood I have converted the reported estimates for tin resources by the four listed companies with significant tin projects and converted them to gold equivalent using prevailing metal prices. Stellar stands out as having the highest grade at around 7.5g/t and a tonnage of 870,000 oz. The tonnage is similar in size to that of Consolidated Tin and Kasbah’s projects however, the grade is significantly higher.

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Unlocking Value
Proposed Development Timeline
August 2010 Queen Hill Resource Drilling (complete – positive results)
December 2010 Assay Results & Metallurgical Testwork
January 2011 Establish JORC Resource
Q1 2011 Drilling
Q2 2011 Scoping Study
Q1 2012 Feasibility Study
Q3 2012 Development Commencement
Q1 2014 Production
� Resources & Reserves sufficient for at least 10 years production
� Develop 500,000 tpa mine
� Produce 4,000 tpa of tin concentrate
� Operating costs of $10,000/t -$12,000/t of contained tin
� Expand through development of regional deposits
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To provide a clearer plan for the Heemskirk Tin Project, Stellar has proposed a development timeline ending with production in early 2014.

In the short-term, there is much to look forward to with assay verification and metallurgical testwork to be reported in December and a JORC compliant resource to follow in early January.

Drilling is expected to resume following testing of the Gourlays prospect in the first quarter of 2011 with parallel work scoping project development.

Stellar’s vision is to define a resource and reserve sufficient to support a 500,000 tpa mill for 10 years with annual production of 4,000 tpa of contained tin in concentrate and operating costs in the $10,000/t to $12,000/t range.

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Tarcoola Iron Ore
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• 100% owned by Stellar

• Large Coolybring magnetite deposit – 700Mt exploration target

• 10km to Trans-Australian Railway

• Closest central to rail &port

• Outside of Woomera Prohibited Area

• Very supportive mining jurisdiction

• Secure partner to fund drilling for inferred resource at Coolybring

• Expand exploration target by increasing access at Hicks Hill

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During the year, Stellar completed a number of studies that scoped various aspects of the 100% owned Tarcoola Iron Ore Project.

In particular, an exploration target of up to 700 million tonnes was defined by an independent expert for the Coolybring deposit with potential to expand that number by the inclusion of a target for Hicks Hill.

The project area is located within 10 kilometres of the TransAustralian railway which links the project to the proposed bulk commodity terminal at Port Bonython.

It is also the closest of the central South Australian iron deposits to rail and lies outside of the Woomera Prohibited Zone.

The information memorandum prepared from the scoping studies has attracted interest from a number of potential investors and discussions are on-going.

Uranium: Pirie Basin - Exciting Target

• Pirie Basin confirmed as new sedimentary uranium province in South Australia

• Stellar well represented with ELs 4242 & 3978

• UraniumSA drilling has proved mineralisation on EL 4242

• � Renaissance Uranium brings experienced team to explore EL 3978

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Stellar has a strong tenement position in the Pirie Basin of South Australia which is rapidly making its mark as a new uranium province. The basin is located between Whyalla and Cowell along the east coast of the Eyre Peninsula.

UraniumSA a company that Stellar helped float and a joint venture partner has shown the way with three significant sedimentary uranium discoveries in the northern Pirie Basin on its Mullaquana property. It now has proved a JORC Resource on its leases of 10,000 tonnes of contained uranium oxide and identified potential ore grade mineralisation on Stellar’s EL 4242.

Stellar has also recently joint ventured its EL 3978 to Renaissance Uranium a uranium focussed company comprising the highly successful exploration and development team from Heathgate Resources.

• A busy 2011

• � Focus on Heemskirk Tin Project & move towards scoping study

• � Explore tin satellite targets in Tasmania

• � JV South Australian iron ore project

• � Uranium & copper/gold results delivered by JV

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In conclusion, Stellar is in for a busy year in 2011.

The Heemskirk Tin Project will be the focus of activity with exploration of tin satellite targets in Tasmania adding to the picture.

Advancement of the Tarcoola Iron Ore Project will be funded by a suitable joint venture partner and uranium and copper/gold exploration results will be delivered by our highly skilled partners.

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Stellar Resources Limited
Level 7 Exchange Tower,
530 Lt. Collins Street
Melbourne VIC 3000
Phone +61 3 9909 7618 Fax +61 3 9909 7621
www.stellarresources.com.au
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