STELLAR RESOURCES LIMITED — Investor Presentation 2008

Apr 7, 2008

Challenging Conventional WisdomStellar 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

ASXCdoe:	SRZ
Shi(illi)aresonssuemon:	720	2dAil2008npr
Oilid(illi)ttponsunsemon:	56	EiD2008N2010xpry:ec;ov
S()hitareprcecens:	150	2dAil2008npr
$()Mktitlitiilliarecapasaonmon:	108	2dAil2008npr

Liidtquasses	$illimons
Chas	33	Mh2008arc
106illiUSAhmonsares	17	Shi16tareprcecens
50illlitimonopons	02	Otii4tponprcecens
O66illiGPtimonopons		Eiblt20txercsaeacens
Ttloa	25

Board MembersBoard Members

• •Executive Chairman - Tom Burrowes
• •Chief Executive Officer - Peter Blight
• •Executive Director - Chris Anderson
• •Non-exec Directors - David Isles

•Company Secretary - Mel Drummond

• -Barrie Laws

China driving magnetite market China driving magnetite market

• shortage of hematite and magnetite iron ore in China
• impact of new supply likely to be later than expected
• BHPB's takeover offer for RIO adds to pricing tension
• spot prices for Indian fines 100% above contract prices
• STELLAR RESOURCES LIMITED65% price increase in 2008 will not resolve the shortage

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

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

View southeast from View southeast from Wilgena Wilgena Hill

Tarcoola Iron Ore progress to date Tarcoola Iron Ore progress to date

• Detailed aeromagnetics & airborne gravity gradiometry(100m line spacing)
• RC drilling 4 holes totalling 620m with routine assaying
• 2 diamond drill holes totalling around 420m with routine assaying (drilled with assistance from PACE funding)
• Metallurgical testing on 11 x 2m samples from the diamond holes
• Metallurgical testing on 4 composited 2m samples, 2 from each diamond hole
• Surface geological mapping at Wilgena Hill (J A Anderson, 2005)
• - Preliminary evaluation of the commercial potential by iron ore industry specialist (C J Robinson, Hematite Consultants, June2007)

Drilling at Drilling at Coolybring Coolybring

PACE funded drilling program

COOLYBRING COOLYBRING –Magnetic Model Magnetic Model

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 Core

Fe – SiO2relationship relationship

Coolybring Coolybring quality compared quality compared

Owner	Diteposs	Odregrae	Gidrn	C/Ooncre	Cdttoncenraegraes				Recovery
		Fe	Size	Ritao	Fe	SiO2	P	Al2O3	Fe
		%	imcrons	%	%	%	%	%	%
Slltear	Clbiooyrng	41	38	15	66	8	0.01	0.20	82
Gidlbinae	Karara	36	25	43	68	4	0.01	?	81
Ctenrex	Blungaow	38	75	40	68	5	?	?	27
Ildronca	Wilhcerry	40	75	40	69	4	?	?	69
Grange	Sthdouown	37	45	35	69	4	?	?	65
AtlIasron	Pdaroo	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

Development Plan Development Plan

April 2008 - Commence scoping study – metallurgical and resource definition drilling

May 2008 - Complete heads of agreement with partner to fund project through to development

March 2009 – Commence feasibility study – define mineable resource

January 2010 – Commence project financing, complete government approvals, finalise off-take agreement

May 2010 – Construction to commence

Magnetite developers by capitalisation Magnetite developers by capitalisation

Project strengths remain to be reflected in Stellar capitalisation

The drill and exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr. C.G. Anderson (Fellow of the Australasian Institute of Mining and Metallurgy) who is a Director of the Company with more than twenty years experience in the field of activity being reported. Mr. Anderson 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 exploration results are preliminary.