STELLAR RESOURCES LIMITED — Capital/Financing Update 2023

Dec 12, 2023

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SHARE PURCHASE PLAN RESULTS

Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company”) confirms that the Share Purchase Plan (“ SPP ”) announced to the ASX on 26 October 2023 closed 5pm Friday, 8 December 2023. The SPP was subscribed with the Company receiving valid applications for 31,951,092 shares raising $287,560 (before costs). The Directors have accepted all valid applications in full in accordance with the SPP Offer Booklet dated 3 November 2023.

Under the SPP, shareholders in the Company registered in Australia or New Zealand on the record date of 25 October 2023 (“ Eligible Shareholders ”) were entitled to subscribe for up to $30,000 of new fully paid ordinary shares (“ SPP Shares ”) in the Company at the issue price of $0.009 per SPP Share.

The capital raised under SPP will be used to advance mining studies on the Heemskirk Tin Project, exploration programs on Stellar’s West coast and NE Tasmania Project portfolio including follow up drill testing of the recent polymetallic discovery at North Scamander and working capital.

It is expected that the SPP Shares will be issued on Friday, 15 December 2023, with quotation to occur on or around Monday, 18 December 2023. The SPP Shares will rank equally with existing shares in the Company.

Non-Executive Chairman, Simon Taylor, commented:

“On behalf of the Board of Stellar Resources Limited I wish to thank existing and new shareholders for their participation in the Company’s fund-raising initiatives via the Share Purchase Plan. The SPP strengthens our balance sheet to allow us to advance mining studies on the Heemskirk Tin Project, exploration programs on Stellar’s West coast and NE Tasmania Project portfolio including follow up drill testing of the recent polymetallic discovery at North Scamander and working capital.

For further details please contact:

Mathew Watkins Company Secretary Stellar Resources Limited Tel: +61 3 9692 7222

This announcement is authorised for release to the market by the Stellar Resources Limited Board of Directors.

Stellar Resources Limited ABN: 96 108 758 961

Level 4, 96 – 100 Albert Road, South Melbourne Victoria 3205, Australia T: +61 3 9692 7222 F: +61 3 9077 9233 E: srzinfo@stellarresources.com.au Web: www.stellarresources.com.au Twitter: @SRZ_Tin