STELLAR RESOURCES LIMITED — Investor Presentation 2019

Mar 27, 2019

HEEMSKIRK TIN PROJECT

Investor Presentation 28 March 2019 ASX: SRZ

www.stellarresources.com.au

AGENDA

• Enviable project location
• Secure tenure over Australia's best portfolio of tin assets
• Heemskirk project highlights
• Tin expected to continue to perform strongly against other metals
• Refocused Heemskirk Fast Start development strategy in 2019
• Mt Razorback and St Dizier satellite deposits offer early production options
• Exploration potential
• 2019 work plan
• The investment proposition

ENVIABLE PROJECT LOCATION

WEST COAST TASMANIA – AUSTRALIA'S LARGEST AND MOST PRODUCTIVE TIN FIELD

• Stellar owned (100%) tin properties:
  • Heemskirk Project (Queen Hill, Severn, Montana and Oonah deposits),
  • Razorback and St Dizier Satellite deposits
  • Large Exploration Licence package
• Five underground metal mines, three currently operating, within 30km of Heemskirk – significant sunk capital in associated infrastructure
• Port of Burnie, 150km to the north, services all west coast mines and will provide access to world markets
• Renewable power and water nearby and accessible
• Competitive market for services, mining and processing inputs and labour exists in Tasmania's NW

BEST PORTFOLIO OF TIN ASSETS IN AUSTRALIA

Secure Tenure: ML's over Heemskirk deposits and St Dizier Large EL Package Providing Further Upside/Flexibility

HEEMSKIRK PROJECT HIGHLIGHTS

• Stellar's flagship Heemskirk Tin Project i s the highest grade undeveloped tin project i n Australia and the third highest globally .
• Refocusing i n 2019 o n progressing a Heemskirk Fast Start development strategy, rapidly advancing the project towards production
• Severn and Queen Hill resource updates recently commenced targeting a n increased drilling density and resource confidence (2019 Q2)
• Maiden resource estimate t o b e completed for Oonah targeting a n increase i n total Mineral Resource for the Heemskirk Project (2019 Q2)
• Scoping Study o n a Fast Start Heemskirk Project (2019 Q3)
• 2019 Q3 focus will b e funding a reduced drilling program t o define a Probable Reserve for a Heemskirk project PFS
• M t Razorback and S t Dizier potential t o add value t o the Heemskirk Project through low cost early production

6 TIN EXPECTED TO CONTINUE TO PERFORM STRONGLY

• Tin supply tightening a s exports from Myanmar decline and production i n China and Indonesia faces greater regulation – exchange stocks also low
• Mine development queue i s limited only one new mine under development (Bisie i n DRC) and n o significant exploration occurring
• Demand for tin u p 2.5% i n 2018. New uses i n the electronic and energy storage sectors t o drive above trend demand growth post 2022

• Tin ranked as the metal best placed to benefit from new technologies
• Tin use in electrical and energy storage applications is easy to achieve and potentially disruptive
• New uses of tin could have a major impact on market size

HEEMSKIRK – REFOCUSED FAST START STRATEGY

• Resource update underway for Heemskirk deposits:
  • incorporating drilling results from 2017
  • tighter drilling pattern in upper Severn
  • maiden resource estimate for recently acquired Oonah deposit
• Scoping study on Fast Start Heemskirk development to follow resource update
• Mining studies completed to date support a sequential development approach that requires moderate initial capital
• Metallurgy test work has demonstrated good recovery of tin in concentrate using a conventional Renison Tin flow-sheet
• Stage 1 Environment Studies showed no impediment to the project and supported the granting of Mining Leases
• Outstanding exploration potential below and around the known tin deposits

HEEMSKIRK: HIGH GRADE CASSITERITE TIN RESOURCE

• Current resource is 6.35mt grading 1.13% tin or 72,000t of contained tin
• Cassiterite is the dominant tin mineral (97%) and the most easily recovered using conventional methods
• All deposits are open at depth and have potential for repetition along a northwest tending structural corridor

Heemskirk Mineral Resource – (JORC 2012, compiled in 2016)

Classification	Deposit	Tonnage	Total Sn	Contained	Cassiterite	Pb	Zn
		mt	%	Sn t	% of total Sn	%	%
Indicated	Upper Queen Hill	0.47	1.15	5,000	91	1.30	0.81
	Lower Queen Hill	0.82	1.42	12,000	99	0.22	0.23
Total Indicated		1.29	1.32	17,000	96	0.61	0.44
Inferred	Lower Queen Hill	0.35	1.50	5000	98	0.14	0.09
	Severn	4.03	0.97	39000	99	0.03	0.05
	Montana	0.68	1.56	11000	96	0.72	1.18
Total Inferred		5.06	1.09	55000	98	0.13	0.25
Total Indicated + Inferred		6.35	1.13	72,000	97	0.23	0.29

INCREASED DRILL DENSITY IN UPPER SEVERN

SEVERN LONG PROJECTION

HEEMSKIRK MINE PLAN

• Mine plan developed by Mining One studies completed in 2013 and 2016
• Fast Start focus on sequential development of deposits beginning with Queen Hill
• Sequential development is lower initial capital development cost and faster access to ore (6 months from commencing portal)
• Severn development has potential to increase scale and lower unit cost
• Renison Tin experience shows significant opportunity for underground drilling to expand resources

HEEMSKIRK – METALLURGY

• Renison Tin flow-sheet tested at bench scale using drill core from Severn and Queen Hill deposits
• Test-work undertaken by ALS Burnie and supervised by Worley Parsons
• Circuit optimised using Severn sample:
  • grind size coarsened t o 250 µ from 130 µ
  • tin losses from sulphide float reduced to <3% from 10%
  • gravity recovery increased to 69% from 63%
  • optimised tin float and finishing
• Over- all recovery of 73% tin into a 49% tin concentrate

Proposed Tin Processing Plant

HEEMSKIRK – ENVIRONMENT

• Notice of Intent submitted to Tasmanian EPA and environmental assessment program agreed (DPEMP)
• No environmental impediments identified by Stage 1 surveying of mine, tailings transport and storage sites
• Mining Leases granted for 12 year initial period over mine site, tailings pipeline route and tailings dam site
• West Coast Council has inspected the project and provided positive feed back (WCC responsible for final mining approval)
• Zeehan is a mining community that is very keen to see a new mine developed – strong support for the Heemskirk Tin Project

Secure Long-Term Tailings Dam Site

RENISON IS WHAT HEEMSKIRK COULD BECOME

• Renison, Australia's oldest and largest tin mine is located 18km to the NE of Heemskirk
• Heemskirk and Renison share the same ore genesis and geology
• Heemskirk deposits drilled to a depth of 500m – all deposits open at depth to granite source rocks 1km from surface (see long projection)
• Renison started with a 4.0mt reserve or 5 year mine life in 1968
• Successful underground exploration increased mine life to 50 years with at least another 15 years to go
• The Heemskirk deposits total 72kt of contained tin or just 20% of the tin found at Renison to date

Renison long projection with overlay of Heemskirk deposits

RAZORBACK TAILINGS

RAZORBACK SATELLITE DEPOSIT OFFERS THE POTENTIAL TO ADD EARLY PRODUCTION AT LOW COST

• Initial Focus on re-processing the Razorback mine tailings
• Encouraging results from initial sampling and testwork in 2018
• Hand auger sampling program of upper tailings dam completed in 2019.
• Pilot scale testing of cassiterite concentration using low- cost gravity spirals currently being undertaken at ALS Burnie using hand auger samples. Results expected 2019 Q2

Razorback open pit and tailings dams

RAZORBACK MINE

RAZORBACK SATELLITE DEPOSIT OFFERS THE POTENTIAL TO ADD EARLY PRODUCTION AT LOW COST

• Razorback Mine operated from 1975 to 1978 producing approximately 158 tonnes of tin in concentrate
• Potential to define a mineral resource from historical drilling and operating data being assessed
• Encouraging results from 3 trench samples taken from the pit floor in 2018 (results on previous page)
• Metallurgical testing of Razorback mine trench samples to be completed subject to results of tailings testwork

Razorback open pit showing face sampling

ST DIZIER SATELLITE DEPOSIT OFFERS THE POTENTIAL TO ADD VALUE VIA LOW COST OPEN - PIT DEVELOPMENT

• Total St Dizier Indicated Mineral Resource of 1.20mt @ 0.69% tin or 8,280t contained tin
• Higher grades near surface in Central Lode making open pit mining attractive
• Open Pit minable resource of 409kt @ 0.90% tin in pit shell over upper part of Central Lode

ST DIZIER SCOPING STUDY

UPDATED STAND - ALONE S T DIZIER SCOPING STUDY COMPLETED JAN 2019

Technical & Financial	Units	Base Case
Parameters
Tin Price	US$/t	20,000
Realisation Cost	US 5 /t	2,500
Exchange Rate	US$/A$	0.72
Mine Life	months	30
Strip Ratio (dil)	X	4.7
Ore Mined (dil)	tonnes	409,179
Tin Grade (dil)	%	0.90
Tin Recovery	%	50
Tin in Concentrate	tonnes	1,841
Unit Cash Cost	US$/t tin	10,539
Capital Expenditure	A$m	3.8
NPV 10% pre-tax	A$m	10.4
IRR	℅	166
Payback	months	8

• Early production may be possible subject to access to 3r d party processing plant
• Alternatively St Dizier may be mined and processed in Stellar's proposed Heemskirk project processing plant to supplement ore supply from the Heemskirk deposits.

Mt RAZORBACK: >4KM OF LATERAL EXPLORATION

• EL11/2017 lies within 10km of the Renison processing plant and a similar distance from the proposed processing plant at Heemskirk
• Significant exploration potential along the 3.0km Razorback and 1.5km Grand Prize Faults
• Razorback and Grand Prize Faults are major northwest trending structures that parallel the Federal Basset Fault at the Renison tin mine
• Highly reactive Red Lead Conglomerate is located at Razorback, Grand Prize and Renison
• Most prospective areas occur where Faults carrying alteration fluids intersect Red Lead Conglomerate

MONTANA FLATS: 3KM LATERAL EXPLORATION

• EL13/2018 lies immediately north of the Heemskirk tin deposits and contains the Oonah deposit
• Adds 3 km of exploration strike length along the northwest trending, tin-mineralising Oonah and Montana Faults
• All tin deposits and major silver deposits lie along or between the Oonah and Montana Faults
• Silver miners of the 1900s ignored sulphide associated tin mineralisation because of perceived metallurgical complexity
• Exploration potential around Zeehan Western and other silver mines remains to be fully tested

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2019 WORK PLAN

St Dizier Scoping Study - completed

Razorback Tailings – sampling complete and metallurgical testing underway

• Razorback Resource Evaluation to follow tailings test-work
• Heemskirk Resource Estimate Update underway
• Heemskirk Fast Start Scoping Study to follow resource update and to include St Dizier
• Fund and implement reduced drilling program to define a Probable Reserve for Heemskirk Fast Start project PFS

THE INVESTMENT PROPOSITION

Investment in the best tin project in Australia – highest grade undeveloped tin project listed on the Australian Stock Exchange

• Low cost investment market capitalisation undervalues Stellar's tin assets
• Re-focused Fast Start Heemskirk development strategy potential for early production from satellite deposits

Significant exploration potential – both laterally and at depth

Opportunity to invest in the next Rension Tin

Tin is emerging as an energy metal – second generation battery raw material demand to drive opportunities for tin and higher tin prices

DISCLAIMER

FORWARD LOOKING STATEMENT

This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to statements concerning Stellar Resources Limited's planned activities and other statements that are not historical facts. When used is this report, words such as "could", "plan", "estimate", "expert", "expect", "intend", "may", "potential", "should", and similar expressions are forward-looking statements. In addition, summaries of Exploration Results and estimates of Mineral Resources and Ore Reserves could also be forward-looking statements. Although Stellar Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward–looking statements. The entity confirms that it is not aware of any new information or data that materially affects the information included in this report and that all material assumptions and technical parameters underpinning this announcement continue to apply and have not materially changed. Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell Stellar Resources Limited securities.

COMPETENT PERSONS STATEMENT - RESOURCES

The information in this report that relates to Mineral Resources was prepared in accordance with the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code) by Tim Callaghan of Resource and Exploration Geology. Tim Callaghan is a Member of The Australasian Institute of Mining and Metallurgy ("AusIMM"), has a minimum of five years' experience in the estimation, assessment and evaluation of Mineral Resources of this style and is the Competent Person as defined in the JORC Code. This report accurately summarises and fairly reports his estimations and he has consented to the resource report in the form and context in which it appears.

COMPETENT PERSONS STATEMENT - EXPLORATION

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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Hazeldene consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

APPENDIX

FINANCIAL SUMMARY BOARD OF DIRECTORS TIN DEMAND DRIVERS

COMPANY OVERVIEW

• 100% owner of Heemskirk Tin Project, 150km south of Burnie, Tasmania
• Stand- out high grade resource ( 1.13% Sn) with vision to be a major Australian tin producer
• 18km from the world class Renison tin mine – same ore genesis and geology

Financial information

Enterprise value	A$3.3m
Debt (31-Dec-18)	No Debt
Cash (31-Dec-18)	A$0.9m
Market Capitalisation	A$4.2m
Number of shares	379.7m
Share price (27-Mar-19)	A$0.011

15m unlisted options (exercise prices A$0.06 to A$0.12, expiring on 20-Nov-19) and 59m A$0.05 options expiring on 18 May 2020

O wnership

CapetownS.A.	16.7%
BunnenbergFamily	11.9%
Directors & Management	2.1%
Top 20 Shareholders	52.2%

BOARD OF DIRECTORS EXPERIENCED AND MULTI - DISCIPLINARY WITH STRONG GLOBAL CONNECTIONS

PHIL HARMAN, NON - EXECUTIVE CHAIRMAN GEOPHYSICIST

Over 30 years experience in BHP Billiton minerals exploration Past and present Director of several ASX listed companies

PETER BLIGHT, MANAGING DIRECTOR GEOLOGIST

30 years experience in exploration, mining and finance sectors Previously worked for UBS, UC Rusal and Rio Tinto

MIGUEL LOPEZ DE LETONA, NON - EXECUTIVE DIRECTOR MANAGEMENT CONSULTANT

Experience as a management consultant and banker with leading financial institutions. Based in Belgium and advises on investment in the mining and oil and gas sectors

THOMAS WHITING, NON - EXECUTIVE DIRECTOR GEOPHYSICIST

Former manager of BHP Billiton exploration Chairman of Deep Exploration Technologies Cooperative Research Centre

MELANIE LEYDIN , COMPANY SECRETARY CHARTERED ACCOUNTANT

Over 2 5 years experience as an accountant and 15 years as a company secretary . Leydin Freyer provides accounting and company secretarial services for a number of ASX listed companies.

FUTURE GROWTH FOR TIN IN EV BATTERIES

WILL 2ND GENERATION EV BATTERIES DRIVE GROWTH?

ITA VIEW OF TIN'S ROLE

ADVANTAGES OF USING TIN IN EV AND PV TIN DEMAND

Increases energy density in battery anodes = increased battery life University of Alberta, Cornell University, Furukawa Group, University of Texas

Improves conductivity of silicon and graphite anodes = improved cycle times Nissan, Daimler, Samsung applied for patents

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Stabilises lithium and sodium anodes in solid state batteries = improved safety Toyota, Japanese Car Industry Research JV, Penn State University

Tin nano-particles for SnS, SnSC and SnCoC anodes = reduced battery cost

China's largest car company BYD conducting research

Superior performance in PV straps = easier and cheaper to apply than silver EI Dupont, Samsung, Hitachi applied for patents

Tin perovskite in PV cells = increased energy efficiency and improved economics University of Groningen research

STELLAR RESOURCES LIMITED

Level 17, 530 Collins Street Melbourne VIC 3000 Phone +61 3 9692 7222 Fax +61 3 9077 9233 www.stellarresources.com.au