STELLAR RESOURCES LIMITED — Capital/Financing Update 2020

Apr 19, 2020

20 April 2020

Capital Structure

Shares:	442,714,441
Share Price (SRZ):	A$0.009
Listed Options:	59,142,857
Unlisted Options:	37,000,000

Commodity

Tin Price: US$15,200/t Exchange Rate US$ 0.63

Main Shareholders European Investors 16.5% Capetown SA 14.1%

Board & Management Simon O'Loughlin Non-Executive Chairman Simon Taylor Non-Executive Director Thomas Whiting Non-Executive Director Gary Fietz Non-Executive Director

Melanie Leydin Company Secretary

Expiry of SRZO Quoted Options

Stellar Resources Limited ("Stellar" or the "Company") (ASX: SRZ) advises holders of 59,142,857 quoted options, exercisable at $0.05 (5 cents) each (ASX: SRZO) that these quoted options will expire at 5.00pm (AEST) on Monday, 18 May 2020.

The Company advises that under ASX Listing Rule 6.24 in conjunction with Appendix 6A item 5.3, the Company does not need to send expiry notices in relation to the SRZO Listed Options as they're substantially out of the money. Accordingly, SRZO expiry notices will not be sent to SRZO option holders.

In accordance with the ASX Listing Rules, the Company is required to provide SRZO Option holders with the following information:

• The number of SRZO options to which this notice applies is 59,142,857.
• On exercise, each SRZO option entitles the holder to receive one fully paid ordinary share in the Company. If all SRZO options were exercised, 59,142,857 fully paid ordinary shares in the Company would be issued.
• The exercise price for each SRZO option is $0.05 (5 cents) each.
• The due date for payment of the exercise price is 5.00pm (AEST) on Monday, 18 May 2020.
• If payment is not received by 5.00pm (AEST) on Monday, 18 May 2020, the SRZO options will lapse and all rights under the SRZO options will cease.
• Official quotation of the SRZO options on ASX will cease at 5.00pm (AEST) Tuesday, 12 May 2020 being four business days before the expiry date.
• The market price of the Company's shares on 17 April 2020, being the last trading day prior to the date of this Announcement, was $0.008 (0.8 cents).
• The highest and lowest market price of the Company's shares during the three months preceding the date of this notice was $0.012 (1.2 cents) and $0.005 (0.5 cents) respectively.
• The exercise price of the SRZO options is not underwritten.

ASX Code: SRZ

About Stellar:

ABN 96 108 758 961 Level 17, 530 Collins Street Melbourne Victoria 3000 Australia

Telephone +61 3 9692 7222 Facsimile +61 3 9077 9233 Stellar Resources (SRZ) is an exploration and development company with assets in Tasmania. The company is advancing its high-grade Heemskirk Tin Project, located near Zeehan in Tasmania, and plans to become Australia's second largest producer of tin.

www.stellarresources.com.au

If the market price of the Company's fully paid ordinary shares exceeds $0.0375 (3.75 cents) before 18 May 2020, the Company will immediately send an option expiry notice to the SRZO option holders.

For and on behalf of the Board of Directors of Stellar Resources Limited and for further information, please contact:

Melanie Leydin Company Secretary Stellar Resources Limited Tel: +61 3 9692 7222

or visit our Website at: http://www.stellarresources.com.au