STELLAR RESOURCES LIMITED — Investor Presentation 2021

Apr 11, 2021

Investor Presentation

Developing The World Class Heemskirk Tin Project and Exploring for Victorian-Style Gold in Tasmania

12 April 2021

ASX: SRZ

Board of Directors and Corporate

S I M O N O ' L O U G H L I N , N O N - E X E C C H A I R M A N L A W Y E R

F o u n d e r o f O ' L o u g h l i n s L a w y e r s , a n A d e l a i d e b a s e d s p e c i a l i s t c o m m e r c i a l l a w f i r m . E x t e n s i v e E x p e r i e n c e o f e q u i t y c a p i t a l m a r k e t s, A S X a n d A S I C r u l e s . H a s h e l d m a n y N o n-E x e c D i r e c t o r s h i p s o n A S X l i s t e d c o m p a n i e s

T H O M A S W H I T I N G , N O N - E X E C D I R E C T O R G E O P H Y S I C I S T

O v e r 4 0 y e a r s i n m i n e r a l s E x p l o r a t i o n b o t h a s a G e o p h y s i c i s t a n d E x p l o r a t i o n M a n a g e r . F o r m e r V P M i n e r a l s E x p l o r a t i o n a t B H P B i l l i t o n . N o n-E x e c D i r e c t o r o f a n u m b e r o f A S X l i s t e d a n d u n l i s t e d c o m p a n i e s

Corporate Summary (9/04/2021)

Share Price	2.4c
Shares on Issue	756,091,058
Market Captialisation	$18.1m
Unlisted Options (majority 1.5c)	29,800,000
NED Share Rights (in lieu of fees)	8,484,294
Cash at 30 Dec 2020	$2.2m*

*Note the Company raised an additional $3.6m before costs as announced on 17 March 2021 ($1.6m is subject to shareholder approval on 4 May 2021)

G A R Y F I E T Z , T E C H N I C A L D I R E C T O R G E O L O G I S T

O v e r 3 0 y e a r s t e c h n i c a l a n d c o m m e r c i a l e x p e r i e n c e i n e x p l o r a t i o n , p r o j e c t d e v e l o p m e n t a n d m i n i n g . P r i n c i p a l c o n s u l t a n t a t W i d e R a n g e C o n s u l t i n g . E x p e r i e n c e d M a n a g i n g D i r e c t o r , a n d N o n-E x e c D i r e c t o r o f A S X a n d f o r e i g n l i s t e d c o m p a n i e s

S I M O N T A Y L O R , N O N - E X E C D I R E C T O R G E O L O G I S T

R e s o u r c e e x e c u t i v e w i t h o v e r 2 5 y e a r s e xpe r i e nc e i nc l ud i n g t e c h n i c a l , C E O a n d B o a r d r o l e s . M a n a g i n g D i r e c t o r o f O k l o R e s o u r c e s a n d N o n-E x e c D i r e c t o r o f C h e s s e r R e s o u r c e s

M E L A N I E L E Y D I N , C O M P A N Y S E C R E T A R Y C H A R T E R E D A C C O U N T A N T

O v e r 2 5 y e a r s e x p e r i e n c e a s a n a c c o u n t a n t a n d 1 5 y e a r s a s a c o m p a n y s e c r e t a r y . L e y d i n F r e y e r p r o v i d e s a c c o u n t i n g a n d c o m p a n y s e c r e t a r i a l s e r v i c e s f o r a n u m b e r o f A S X l i s t e d c o m p a n i e s

Investment Highlights

Heemskirk Tin Project (West Coast Tasmania)

• 1. Why Invest in Tin?
  • This year tin has soared to 10-year high prices as demand growth exceeds falling supply and stocks fall to record lows
  • Tin is rated as the No. 1 new technology metal
• 1. The Heemskirk Tin resource (6.6Mt @ 1.1% Sn) is the highest grade undeveloped tin resource in Australia & 2nd highest globally
• 1. Phase 1 drilling program about to commence targeting new areas of high-grade tin mineralisation:
  • 7 holes targeting depth extensions below key historic silver-lead mines with typical ore grades of 20 to 100 Oz/t silver
  • 2 holes targeting depth extensions of the Severn tin resource
• 1. A Phase 2 drilling program is now under review including:
  • Indicated resource infill drilling program over key Heemskirk deposits
  • A deep hole targeting the main conduit of mineralising fluids
• 1. Other project work streams / studies required to advance the project to PFS and BFS completion are also now under review
• 1. With a scoping study completed in late 2019 confirming attractive economics, the Heemskirk Tin Project is well positioned to take advantage of this years booming tin market

NE Tasmania Gold Exploration

• 1. NE Tasmania is a continuation of the Victorian Western Lachlan Fold Belt, which hosts the Fosterville Mine and other Tier 1 goldfields and has produced >80 MOz gold
• 1. NE Tasmania hosts the Beaconsfield Mine (2.3 MOz), Mathinna and Lefroy Goldfields and hundreds of smaller gold mines and occurrences
• 1. While Victoria is currently experiencing intense gold exploration activity, NE Tasmania has had very little modern gold exploration
• 1. Stellar holds 12 first in time EL applications covering a large area of 2,534 km2 in NE Tas
• 1. Stellar's ground is highly prospective for Vic-style orogenic gold and IRGS and has ~77 historic gold and ~25 tin occurrences
• 1. First 10 EL's expected to be granted ~ June 2021
• 1. Desktop target generation using full GIS capability is well advanced with a number of targets defined
• 1. On-ground exploration planned to commence following grant of EL's and will focus initially on soil and rockchip sampling and geochem

Heemskirk Tin Project

Why Invest in Tin?

In what the London Mining Journal is calling "the great tin squeeze" 1 and Money Week are calling "the next big bull market in metals?" 2 , since the beginning of 2021 tin has soared to 10-year high prices, not seen since the 2011 boom

• Physical tin demand is growing strongly:
  • Covid and the rise of remote working has boosted demand for computers and other home electronics devices. As tin solder is the 'glue' connecting everything electronic, this has resulted in strongly growing demand for tin
  • Continued demand for tin in traditional uses including tinplate, chemicals, lead-acid batteries, alloys and other

• Global tin supply is falling:

• China is the world's largest miner of tin and smelter of tin metal and is also a net tin importer. Production cuts have occurred in many Chinese tin smelters this year due to tin ore shortages. China is stockpiling tin to meet its goal of self-sufficiency in semiconductors
• Indonesia (world's 2 nd largest producer) - production has fallen due to a poor monsoon season, environmental controls and covid issues
• Myanmar (world's 3 rd largest producer) - production has fallen due to the military coup and largely unreliable artisanal and small-scale mining
• South America (world's 4 th largest producer) supply has had Covid issues
• Many existing tin mines now have lower grade and diminishing resources
• There has been limited exploration or investment in new tin projects
• Many new projects are either in risky jurisdictions or are low grade

Strong tin demand growth has exceed falling tin supply and is creating an extremely tight market with LME tin stocks falling to near record lows and tin prices rising to 10-year highs

Tin – The Number 1 New Technology Metal

• Tin ranked as the No. 1 metal best placed to benefit from new technology
• ~50% of all tin is used as solder in electronics. Solder is the 'glue' that connects everything electronic
• Our clean, new technology future will be driven by robotics, computing, EV's, energy storage and renewables – these all use more electronics and semiconductors which all need more tin
• Growing research showing tin may be a more effective anode material in Li -ion batteries

Heemskirk Tin Project – An Enviable 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
• 5 major underground metal mines, 3 currently operating, within 30km – 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
• Competitive market for services, mining & processing inputs and labor

Heemskirk Tin – The Best Portfolio of Tin Assets in Australia

• Secure Tenure: ML's over Heemskirk Tin and St Dizier satellite deposit
• Large EL Package: With a number of significant historic silver-lead mines providing further upside

Geology – Queen Hill and Severn

Schematic W-E Cross-Section 3700N, Showing Queen Hill and Severn Tin Deposits

Heemskirk Mineral Resource Estimate (May 2019) 4

Heemskirk is the Highest grade undeveloped tin resource in Australia & 2nd Highest Globally 5

• Classification Deposit Tonnes (mt) Sn (%) Contained Sn (t) Cassiterite % of total Sn (%) Cu (%) Pb (%) Zn (%) Indicated Upper Queen Hill 0.32 1.0 3,230 87 0.2 2.1 1.0 Lower Queen Hill 0.65 1.4 9,230 97 0.0 0.1 0.1 Severn 1.15 1.0 11,500 99 0.1 0.0 0.1 Total Indicated 2.12 1.1 23,960 97 0.1 0.4 0.2 Inferred Upper Queen Hill 0.11 1.6 1,760 94 0.2 1.9 0.7 Lower Queen Hill 0.36 1.4 5,040 97 0.0 0.2 0.0 Severn 2.74 0.9 24,660 99 0.0 0.0 0.0 Montana 0.68 1.5 10,200 96 0.1 0.7 1.4 Oonah 0.59 0.9 5,310 36 0.8 0.1 0.1 Total Inferred 4.48 1.0 46,970 90 0.1 0.2 0.3 Total Indicated + Inferred 6.60 1.1 70,930 92 0.1 0.3 0.3

• 6.6Mt @ 1.1% Sn total resource reported to JORC 2012 at 0.6% Sn cut-off grade:

• All deposits have higher grade zones & amenable to mining at higher cut-off grades

• All deposits open at depth

Refer to next slide for project benchmarking assumptions including information sources, project stages & project resource categories

Heemskirk Tin Project Benchmarking Assumptions

Project	Company	Country	ProjectStageCompleted	TotalResourceTonnes(Mt)	TotalResourceGrade(%)	TotalResourceContainedTin(kt)	MeasuredResourcein Total(%)	IndicatedResourcein Total(%)	InferredResourcein Total(%)	Source / Company Annouoncemnt Date
Bisie	Alphamin	DRC	Production	4.8	4.6	221	7%	83%	10%	31/12/2019 Bisie 43-101 Report (Mpama Nth)
Syrymbet	JSC Tin One	Kazakhstan	FS	123.3	0.4	489	48%	-	52%	JSC Tin One & ITA websites
Rentails	MetalsX	Australia	FS	23.9	0.4	105	100%	-	-	MetalsX Website / Mineral Resources and Reserves
Renison	MetalsX	Australia	Production	18.5	1.6	292	10%	78%	12%	MetalsX Website / Mineral Resources and Reserves
San Raphael	Minsur	Peru	Production	11.2	2.0	222	-	100%	-	May 2018 Minsurpresentation, Unclassified resource Dec '17-Not adj for depletion
San Raphael Tails	Minsur	Peru	PFS	7.6	1.1	80	100%	-	-	May 2018 Minsurpresentation (unclassified resource at Dec 2017)
Heemskirk	Stellar	Australia	Scoping	6.6	1.1	71	-	34%	66%	16 May 2019 (ASX). Excludes Cu, Pb, Zn credits
South Crofty	CornishMetals	UK	PFS	3.1	1.6	49	-	65%	35%	CUSN website -2016 43-101, Lower + Upper Mine
Achmmach	Kasbah	Morocco	FS	14.9	0.9	127	13%	87%	-	16 July 2018 DFS (ASX)
Mt Lindsay	Venture	Australia	FS	45.1	0.2	81	22%	40%	40%	VMS website Resource Statement @ 0.2% Sn COG, (excludes W and Cu credits)
Cleveland OP	Elementos	Australia	Scoping	1.9	1.0	18	-	89%	11%	ELT 2020 Annual Report. Sept 2018 resource @0.35% Sn COG, Excludes Cucredits
Cleveland UG	Elementos	Australia	Scoping	5.6	0.7	38	-	80%	20%	ELT 2020 Annual Report. Sept 2018 resource @ 0.35% Sn COG, Excludes Cucredits
Oropesa	Elementos	Spain	Scoping	12.5	0.5	68	5%	70%	24%	ELT 2020 Annual Report. July 2018 resource@ 0.15% Sn COG
Mt Garnet	Consolidated	Australia	PFS	10.4	0.4	44	23%	59%	18%	CSD website, 2014/13 resources all deposits @ 0.2% Sn COG (excludes Fe, Flcredits)
Kanbauk	Kanbauk	Myanmar	Exploration	30.0	0.3	79	-	-	100%	Knabaukwebsite. 2017 resource @ 0.1% Sn COG (Excludes W, CaFcredits)
East Kemptville	Avalon	Canada	PFS	37.2	0.1	55	2%	62%	36%	AVL website. May 2018 resource @ 0.1 Sn COG (excludes Indium credits)
Gottesberg	AngloSaxony	Germany	Exploration	42.1	0.3	113	-	25%	75%	Proactive Investors 8 Mar 2018 Panthera Resources-Anglo Saxony Mining Update
Taronga	AusTin	Australia	PFS	36.3	0.2	58	-	79%	21%	23 Feb 2021 (ASX) -excludes potential Cu and Ag credits

2021 Drilling Program – Phase 1 5,6

• Phase 1 drilling program (~ 9 diamond holes, ~ 4 ,900m) aimed at identifying new areas of high -grade tin mineralisation near the defined Heemskirk tin deposits / resources . The program includes :
  • a) 7 holes targeting depth extensions below key historic silver -lead mines
  • b) 2 holes targeting depth extensions of the Severn tin resource
• Program currently out to tender with drilling commencement requested in May (subject to rig availability) . Drilling permits expected by end -April
• $235 ,000 in Tasmanian Government Exploration Drilling Grant Initiative (EDGI) co -funding grants have been applied for over the Phase 1 holes

(a) Historic Silver -Lead Mines - Depth Extension Drilling

• ~ 7 holes for a total of ~ 3 ,000 m planned
• Highly mineralised Zeehan mineral field contains many historically significant high -grade silver -lead mines which lead to the development of a major town and smelters at Zeehan in the late 1800's / early 1900's
• Drilling below 4 of the largest historic silver -lead mines (Montana No . 1 , Zeehan Western, Oonah & Zeehan Queen No . 4 ) which typically had :
  • Ore grades of 20 Oz/t Silver to 100 Oz/t Silver
  • Mining widths of a few cm up to 2.7m (fissure veins)
  • Mining lengths up to 300m
  • Mining depths of 70m to 300m

2021 Drilling Program – Phase 1 5,6

(a) Historic Silver-Lead Mines - Depth Extension Drilling (continued)

• Silver-Lead lodes typically transition into tin (with pyrite) lodes at depth
• Drilling targets depths below the historically mined silver-lead lodes where transition to tin mineralisation is expected although there is also potential to intersect deeper high-grade silver-lead-zinc fissure lodes
• No drilling ever done below these mines

Phase 1 Drilling Program Summary

Target	No.Holes	Approx.HoleLength(m)	HistoricSilverProduction(MOz)	Description
Oonah Mine	2	400	2	Large historic Ag-Pb mine, worked to 120m with Inferredresource based on historic drilling below (0.59 Mt at 0.9%Sn, 0,8% Cu, 0.1% Pb, 0.1% Zn). Remains open at depth
Montana No. 1Mine	2	500-600	7	The largest Ag-Pb mine in Zeehan Field. Worked to 200mdepth on 6 lodes
ZeehanWestern Mine	2	400	5	One of largest Ag-Pb mines in Zeehan Field. Worked to300m depth
Zeehan QueenNo. 4 Mine	1	300	2	Large historic mine, worked to 70m where lode hadtransitioned to pyrite and never assayed for tin
SevernResource Extn.	2	700	None	Targeting ~100m below currently defined Severn tinresource at ~600m depth
Total	9	4900

2021 Drilling Program – Phase 1 6

(b) Severn Resource Depth Extension Drilling

• Two ~700 m holes with provision for wedging & daughter holes planned (total of ~ 1 ,900m)
• Severn is the largest of the Heemskirk Tin Project deposits and has been drilled only to ~500 m depth
• The 2 holes planned target extension of the Severn deposit ~100 m below the current resource limit at a depth of ~600 m
• Severn remains open at depth where it is hoped that mineralisation will continue and increase in grade towards the underlying granite contact, predicted to be > 1 ,000 m below the surface from geophysical surveys

Heemskirk Could Become the Next Renison

• ✓ Renison, Australia's oldest, largest & highest-grade 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 interpreted at <1km from surface
• ✓ Renison started in 1968 with a 4.0Mt reserve and 5-year mine life and has since increased the mine life to 50 years with at least another 15 years to go via successful underground exploration
• ✓ The Heemskirk deposits currently have a total resource of 6.6Mt, just 20% of the tin found at Renison to date

Phase 2 Drilling and Advancement to PFS/BFS Completion 1 6

With the highest grade undeveloped tin resource in Australia & second highest globally, and a scoping study completed in late 2019 confirming attractive economics, the Heemskirk Tin Project is well positioned to take advantage of increasing tin demand and global supply shortages causing tin prices to soar in 2021

Phase 2 Drilling Program

• A Phase 2 diamond drilling program is currently under review by Stellar including:
  • a) Severn and Queen Hill Indicated Resource Infill Program
    • Severn and Queen Hill are the two largest Heemskirk Tin Project deposits with a combined total Mineral Resource of 5.33Mt @ 1.0% Sn, of which 40% is Indicated & 60% Inferred 4
    • Infill drilling to upgrade a significant part of the Severn and Queen Hill Inferred Resource to an Indicated Resource in order to support a PFS / BFS for the project

b) 1 Deep hole

• A deep hole is being considered to target the main conduit of mineralising fluids into the Severn and Queen Hill deposits from the underlying interpreted granite
• Quotes for Phase 2 drilling have been requested as part of the Phase 1 drilling tender enquiry
• Phase 2 drilling may require revision to include new areas of high-grade tin mineralisation identified in Phase 1

Advancement of Heemskirk Tin Project to PFS/BFS Completion

• Other project work streams and studies required to advance the Heemskirk Tin Project to PFS and BFS completion are also now under review by Stellar
• Many of the project work streams and studies have already been completed to a PFS level
• Work towards completion of the DPEMP is well progressed with environmental assessment program agreed and stage 1 surveys completed
• The project has secure Mining Leases granted over mine site, tailings pipeline route and tailings dam site

Heemskirk Tin Project - 2019 Scoping Study 7

• ~350,000tpa underground mine, on site processing plant, tailings storage and surface infrastructure
• Tin concentrate trucked to Port of Burnie (150km via sealed road) for export to Asian smelters
• Tailings pumped to tailings storage facility via 6.7km slurry pipeline
• Underground mining of Queen Hill and then Severn deposits for first 10 years
• Open pit mining of St Dizier satellite deposit and trucking to Heemskirk processing plant included in year 11
• Scoping study mine plan contains 58% Indicated Resource and 42% Inferred Resource over LOM. First 4 years are based on mining 100% Indicated Resource

2019 Scoping Study Demonstrates Attractive Economics for Heemskirk Tin Project 7

Total Ore Production (LOM)	(Mt)	3.70
Annual Ore Production (LOM Ave)	(Tonnes pa)	354,000
Sn Grade (LOM Ave)	(%)	0.94
Tin Recovery (LOM Ave)	(%)	69.4
Total Tin Production (LOM)	(Tonnes)	24,000
Annual Tin Production (LOM Ave)	(Tonnes pa)	2,342
Mine Life	(Yrs)	11
Tin Price (USD)	(US$/t)	20,000
Exhange rate	USD:AUD	0.70
Tin Price (AUD)	(A$/t)	28,571
Gross Revenue	(A$M)	691
Total Operating Costs (AISC)	(A$M)	454
Total Operating Costs (AISC)	(US$/t Tin)	13,100
Operating Cash Flow	(A$M)	237
Operating Margin	(%)	34%
Capital Cost	(A$M)	57
Net Cash Flow (Pre-Tax)	(A$M)	180
Pre-Tax NPV10%	(A$M)	83
Post-Tax NPV10%	(A$M)	71
IRR (Pre-Tax)	(%)	45
Payback Period	(Yrs)	3.0
Pre-Tax NPV / Capex		1.5

• Low All-In Sustaining Cost of ~US$13,100/t of tin generating ~34% operating margin based on US$20,000/t tin price and 0.70 USD:AUD Exchange Rate
• Base Case post-tax NPV10% of ~A$71m and IRR of ~45%
• Cost estimates and valuations to an accuracy of ±35%

AUD:USD	Tin Price (US$/t)
Exchange Rate	16,000	18,000	20,000	22,000	24,000
0.76	-9	23	55	88	120
0.73	2	35	69	102	136
0.70	13	48	83	118	153
0.67	26	62	99	135	172
0.64	39	78	116	154	192

• Sensitivity analysis highlights project robustness:

Cautionary Statement - The Heemskirk Tin Project Scoping Study has been undertaken for the purpose of ascertaining whether a business case can be made to proceed to more definitive studies on the viability of the Heemskirk Tin Project. It is a preliminary technical and economic study of potential project viability based on low level technical and economic assessments that are not sufficient to support the estimation of ore reserves. Further exploration and evaluation work and appropriate studies are required before Stellar will be in a position to estimate any ore reserves or to provide any assurance of an economic development case

2019 Scoping Study – Major Project Studies are Well Advanced 7

Metallurgy and Processing

• Renison Tin style flow-sheet tested at bench scale using drill core from Severn, Queen Hill & St Dizier (testwork by ALS Burnie)
• 69% over-all tin recovery including St Dizier, with 49% tin concentrate
• Opportunities for optimisation of flow sheet and recovery including addition of ore sorting
• Processing plant to be located to NW of Queen Hill to minimize impact on Zeehan and Trial Harbour road

Environment and Community

• 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 12year 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 and is supportive of the project

Low Capital Expenditure of ~A$57m

Section	Estimated By	(A$M)
Mining (QH Decline)	(Mining one)	8
Processing & Surface Infrastructure	(Mincore)	34
Tailings Pipeline (6.7km) and Storage	(J Miedecke & Mincore)	5
Working Capital	(Stellar)	9
Contingency	(Mincore)	2
Total Development Capital Cost	(±35% accuracy)	57

Competitive Operating Costs: ~A$123/t ore / ~US$13,100/t tin All In Sustaining Cash Cost (AISC)

Section	Estimated By	A$/t Ore
Mining (owner operated, leased equip.)	(Mining One & Polberro)	58
Ore Transport (St Dizier ore only)	(Polberro)	1
Processing	(Mincore)	35
Administration	(Stellar)	2
Concentrate transport & treatment	(Stellar & Third Parties)	13
Royalties	(Stellar)	11
Sustaining Capital	(Mining One, Mincore)	4
Total All In Sustaining Cash Costs (AISC)	(±35% accuracy)	123

North East Tasmania Gold Exploration Project

NE Tasmania – A Continuation of Victorian Western Lachlan Fold Belt 8

• NE Tasmania is a continuation of the Victorian Western Lachlan Fold Belt, which hosts the Fosterville Mine, other Tier 1 goldfields including Bendigo, Ballarat, Stawell, Walhalla and Woods Point and has produced >80 MOz gold
• Stellar's ELA areas in NE Tasmania best align with the rich Walhalla-Woods Point belt in the eastern part of the Melbourne structural zone
• NE Tasmania hosts the Beaconsfield Mine (2.3 MOz), New Golden Gate Mine, the Lefroy Goldfield and hundreds of smaller historic gold mines and occurrences
• While Victoria is currently experiencing intense gold exploration activity, NE Tasmania has had very little modern gold exploration undertaken

NE Tasmania – A Continuation of Victorian Western Lachlan Fold Belt 9

Gold deposits in NE Tasmania share the same geological setting as their Victorian counterparts: ✓ Ordovician turbiditic meta-sediments (Mathinna Super-Group) ✓ Ordovician to Devonian deformation and metamorphism (Western Lachlan Orogen) ✓ Associated with nearby Devonian granitoid intrusives ✓ Gold commonly in quartz veins occupying dilational zones along large- scale faults related to folding and deformation during the Lachlan Orogen ✓ Predominantly NW oriented lodes controlled by regional structures and rheological contrasts between sedimentary units ✓ Intrusion Related Gold System (IRSG) deposits also occur in NE Tasmania NE Tasmania Melbourne Zone Walhalla/Woods Point deposits Bendigo Zone Fosterville deposit Legend: Sedimentation Deformation Granitoid Intrusion Gold Mineralisation Time (Ma) 380 360 340 Cambrian Ordovician Silurian Devonian Carboniferous 500 480 460 440 420 400

Timing of Geological Events in NE Tasmania vs Melbourne and Bendigo Zone of Western Lachlan Fold Belt in Victoria (after Bierlein et al, 2005)

NE Tasmania Gold Project – Exploration Licence Applications (ELA's) 8

• Stellar has 12 first-in-time ELA's covering 2,534 km2 in NE Tasmania:
  • 10 ELA's registered Sept 2020 EL's expected to be granted ~ end June 2021
  • 2 ELA's registered March 2021 EL's expected to be granted later in 2021
• Highly prospective for Victorianstyle orogenic gold & IRGS
• ~77 recorded historic gold occurrences and ~25 tin occurrences within Stellar's ELA's
• On-ground exploration planned to commence following grant of EL's

Summary of Gold Exploration Targets on Stellar's NE Tasmania ELA's 8,9

A number of desktop orogenic and IRGS gold exploration targets already identified using full GIS targeting capability developed by Stellar's technical team including; recently reprocessed aeromagnetic, radiometric and gravity data, geology, recorded gold and tin occurrences, historic drilling and geochemical data

Application Name	ApplicationNumber	OrdovicianMathinnaGroup	Regional Structures(MagneticLineaments &Mapped Faults)	GranitoidIntrusionsnearby	GoldOccurrences	TinOccurrences
Beaconsfield	ELA 10/2020	Y	NW	Y	18Nunamara
Bridport Rd	ELA 11/2020	Y	NW	Y	3ELA
Pipers River	ELA 12/2020	Y	NW	Y	15
Lilydale	ELA 13/2020	Y	NW	Y	6	Camden Road ELA
Nunamara	ELA 14/2020	Y	NW & NE	Y	3
Camden Road	ELA 16/2020	Y	NW & N	Y	3
Scottsdale	ELA 15/2020	Y	NW, N & NE & IRGS	Y	2	21
Mt Saddleback	ELA 17/2020	Y	NW & NE	Y	13	1
Peppermint Hill	ELA 18/2020	Y	NW	Y	6
Scamander	ELA 19/2020	Y	N & NE	Y	7	1
South Scamander & Pyengana	ELA 2/2021	Y	NW, N,NE	Y	1	2
Quakers Ranges	ELA 3/2021	Y	NW	Y

Exploration Program – NE Tasmania Gold Project

Year 1
Historic data capture -reprocessed aeromagnetic, radiometric and gravitydata, geology, recorded gold and tin occurrences, historic drilling andgeochemical data captured in GIS -largely completed	Desktop Phase
Desktop target generation (orogenic lineaments/faults and IRGS targets)using full GIS targeting capability developed by Stellar's technical team -welladvanced with a number oftargets defined)	(Prior to Grant of EL's)
Fieldwork –soil and rock chip sampling and analysis over key targets. Otherfield reconnaissance activities
Generation of drill targets foy Year 2 (eganomalous soil geochemistryresults)	Ground Based ExplorationPhase
Year 2	(To commence on grant of
First phase of drilling on drill targets identified in Yr1. Combination of aircoreor RAB for initial shallow drilling of targets, with follow up deeper reversecirculation and diamond drilling planned	EL's)

Disclaimer

Footnotes / Live Links

• 1 The great tin squeeze (The Mining Journal, 15 February 2021)
• 2 The next big bull market in metals?, Look no further than tin (Dominic Frisby, Money Week 10 March 2021)

3 westmetall.com tin prices

• 4 SRZ Announcement, 16 May 2019, "Updated Heemskirk Resource Increases Indicated Category and Confidence in the Project"
• 5 SRZ Announcement, 18 February 2021, "Restart of Tin Exploration Drilling"
• 6 SRZ Announcement, 26 March 2021, "Expanded Tin Exploration Drilling Program at Heemskirk Tin"
• 7 SRZ Announcement, 1 October 2019, "Heemskirk Tin Scoping Study Confirms Attractive Economics"
• 8 SRZ Announcement, 4 March 2021, "Additional NE Tasmania Gold EL Applications"
• 9 SRZ Announcement, 10 September 2020, "NE Tasmania Gold EL Applications"

Forward Looking Statements

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.

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