STELLAR RESOURCES LIMITED — Capital/Financing Update 2006

Apr 27, 2006

MARKET RELEASE

28 April 2006

Stellar Resources Limited

TRADING HALT

The securities of Stellar Resources Limited (the "Company") will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Tuesday, 2 May 2006 or when the announcement is released to the market.

Security Code: SRZ

Dean Litis Senior Adviser, Issuers (Melbourne)

28 April 2006

Mr Dean Litis Companies Advisor Australian Stock Exchange Limited 530 Collins Street Melbourne VIC 3000

By facsimile: (03) 9614 0303

Dear Mr Litis,

REQUEST FOR TRADING HALT

Further to our earlier telephone conversation, I now write to confirm that the Directors of Stellar Resources Limited hereby request that the shares of the company be placed in a trading halt under ASX Listing Rule 17.1.

The trading halt is requested to enable the Company to complete a share placement to private investors.

The trading halt commencing at 10.00am on Friday 28 April 2006 is requested for two trading days - with trade to commence again on Tuesday 2 May 2006.

The company is not aware of any reason why the trading halt should not be granted.

Yours sincerely,

Bill Michaelidis

Company Secretary

STELLAR RESOURCES LIMITED

AUN 88 108 758 981

Level 7 Exchange Too sso Little Collite StreetMelbourne Victoria 3000Tel + 81 3 9909 7618 Fex + 61 3 9909 7021

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