STELLAR RESOURCES LIMITED — Major Shareholding Notification 2009

May 25, 2009

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To, Company Name/Scheme	Stellar Resources Limited
ACN/ARSN	108 758 961

1. Details of substantial holder (1)

Name	WML Investments Pty Ltd
ACN/ARSN (if applicable)	128 818 048
The holder ceased to be a substantial holder on		25/05/09
The previous notice was given to the company on		06/04/09

2. Changes In relevant interests

The previous notice was dated

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting eduction of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

06/04/09

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class $(6)$ and number of securities affected	Person's votes affected
25/05/09	WML Investments Pty Ltd	Sale	\$52,955,75	Ordinary 1,200,000	1,200,000
22/05/09	WML Investments Pty Ltd	Sale	\$9,100.00	Ordinary 200,000	200,000

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows: $\mathbf r$

(Name and ACN/ARSN (if applicable) Nature of association
$N/\lambda$

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
	WML Investments Pty Ltd c/- Unit 7, 100 Railway Road, Subiaco WA 6008

Signature

print name	Morgan Ball	capacity Company Secretary
	$sign here$ $Many-25$	date 25/05/2009

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(4)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ any recovers agreement of once of contractors are several of magnetic and agreement, and a statement by the person giving full and applies, a vopy of ony occurrent occurrence of arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was $(5)$ acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• Give detalls, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(7)$