STELLAR RESOURCES LIMITED — Investor Presentation 2008

May 6, 2008

Commercialising Iron Ore and Tin Assets Stellar Resources Limited

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.

Stellar Resources Capital Structure Stellar Resources Capital Structure

SCAXdoe:	SRZ
Shi(illi)aresonssemonu:	807
Oilid(illi)ttponsunsemons:	56	EiD2008N2010xpry:ec;ov
S()hitareprcecens:	150	24thAil2008pr
$Mkilii(illi)tttarecapasaonmon:	117	24hAil2008tpr

Liidtquasses	$illimons
Chas	36	31Mh2008tsarc
106illiUSAhmonsares	16	Shi15tareprcecens
50illlitimonopons	02	Otii4tponprcecens
66illiGOPitmonopons		Eibl20ttercsaeacensx
Ttloa	54

Board MembersBoard Members

• •Executive Chairman - Tom Burrowes

• •Executive Director - Chris Anderson

• •Non-exec Directors - David Isles

• •Chief Executive Officer - Peter Blight

• •Company Secretary - Mel Drummond

• -Barrie Laws

Supply Shortage in Iron Ore and Tin Supply Shortage in Iron Ore and Tin

Iron Ore Market

• ¾Shortage of hematite and magnetite iron ore in China
• ¾Impact of new supply likely to be later than expected
• ¾65+% contract price increase in 2008 will not resolve the supply shortage

• ¾Tin demand growth driven by China and lead free solder
• ¾ITRI see need for production (ex China + Indonesia) to double by 2013 to meet demand
• ¾Prices have increase threefold to US$23,000/t since 2005

Tarcoola Iron Ore LocationTarcoola Iron Ore Location

TARCOOLA IRON PROJECT-100% owned by Stellar

-limited drilling but large tonnage potential

-close to Trans Aus Railway (10km)

-within 480km of Whyalla port and infrastructure

- Ceduna port option 240km to the southwest but no infrastructure

Railway visible from Railway visible from Wilgena Wilgena Hill

Magnetite Deposits Magnetite Deposits Tarcoola Region Tarcoola Region

Hawks Nest (source: Western Plains)

• -Kestrel 220mt @ 35% Fe – magnetite
• Buzzard 9mt @ 60% Fe hematite
• Other deposits 350mt @ 35% Fe?

Giffen Well(source: PIRSA)

-290mt @ 34%Fe - magnetite

Drill section through DD04

(note that holes RC08 and 09 are projected 200 north onto this section)

Coolybring Coolybring 3D Magnetic Image 3D Magnetic Image

Potentially significant depth to magnetite mineralisation

Coolybring Coolybring quality compared quality compared

Onerw	Diteposs	Odregrae	Gidrn	C/Ooncre	Con	tcenra	Gter	daes	Recoervy
		Fe	Size	Ritao	Fe	SiO2	P	Al2O3	Fe
		%	imcrons	%	%	%	%	%	%
Stllear	Clbioorngy	41	38	51	66	8	001	020	82
A		36	25	43	68	4	001	?	81
B		38	75	40	68	5	?	?	72
C		40	75	40	69	4	?	?	69
D		37	45	35	69	4	?	?	65
E		37	35	35	69	5	?	?	65

Ore and concentrate grades taken from company presentations

Coolybring potentially has high ore grade, high mass recovery, high iron recovery but also elevated silica and requires fine grinding – Coolybring numbers based on limited sampling

SA Exploration Tenements SA Exploration Tenements

JV expenditure on Stellar leases is now $2m pa or 60% of total spend

IOCGU targets

• - Strong position in the corridor
• - Focus on Pernatty and Cowell

Gold

- Archaen targets at Tarcoola

Uranium

• - Warrior JV with Toro Energy
• Kingoonya JV with UraniumSA
• Cowell JV with Uranium SA
• - Stellar maintains 30% JV interest

Tasmanian Exploration Tenements Tasmanian Exploration Tenements

Zeehan Tin Geology Zeehan Tin Geology

Deposit location over granite North-south schematic section

Zeehan Tin Historic ResourceZeehan Tin Historic Resource

SLEN	CGOATERY	Mt	%Sn	STonnesn
QHilleenu	Iditdncae	18	082	14800,
Severn	fIdnerre	15	06	30007,
Mtonana	fIdnerre	04	122	4807,
Ttloa		37	069	03057,
IlddHihGdncuegrae
SLEN	CGOATERY	Mt	%Sn	STonnesn
QHilleenu	Iditdncae	09	139	12900,
Seernv	fIdnerre	24	111	26300,
Mtonana	fIdnerre	03	145	4500,
Ttloa		36	121	43007,
(Db200ecemer	7HitiJORCRsorcesou	)rces

Stellar Stellar's Value Proposition Value Proposition

• ¾Restructured to focus on project development
• ¾ Significant resource potential in iron ore in South Australia and tin in Tasmania
• ¾ Iron Ore and Tin markets continue to strengthen and face historic high prices for several years
• ¾Financing plans for project advancement are underway
• ¾Experienced team to guide project development
• ¾ Project value should greatly exceed Stellar's $11million market capitalisation

The drill and exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr. Chris Young (Member of the Australasian Institute of Mining and Metallurgy) who has more than 5 years experience in the field of activity being reported. Mr. Young 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 resources are reported under the December 2007 provision of the JORC code for reporting historic resource estimations.