#1STELLAR Heemskirk Tin Project - Tasmania CEO Peter Blight TRI International Tin Conference 24-25 April 2012 INTERNATIONAL TIN CONFERENCE 2012 25 APRIL 2012#2Focused on Tin ■ Rapidly advancing Heemskirk Tin near Zeehan, STELLAR Tasmania - single commodity - single project focus ■ Established mining region ■ Good historical drilling data base ■ Potential to discover blind deposits Mining and environmental scoping are positive Project target: production by early 2015 2#3Simplifying Ownership Structure STELLAR □ Historical JV - 60% Stellar, 40% Gippsland with Stellar as operator ■ Stellar acquired Gippsland's 40% for 43.5 m Stellar shares and a royalty ⚫ Simple share transaction with no changes to Stellar board or focus ㅁ 100% ownership allows Stellar to control program through to production Ownership impediments to financing, feasibility and development removed 3#4Corporate ASX Code: Shares on Issue: Share Price: Market Capitalisation: Cash: Investment: SRZ (listed April 2005) 223.4M 13.0c (12 month range: 4-24c) $29M $6.0M (March 12) $0.6M (USA shareholding) Board & Management STELLAR Ownership Structure Top 20 Gippsland Ltd RCF JP Morgan Noms HSBC Noms 65.0% Phil Harman - Non-Executive Chairman 19.5% Tom Burrowes - Non-Executive Director 16.2% Dr David Isles - Non-Executive Director 9.5% Dr Tom Whiting - Non-Executive Director 2.4% Peter Blight - Chief Executive Officer 4 Chris Kemp - Company Secretary#5Great Location - Multiple Deposits 5 STELLAR Head Queen Hill Severn Bass RL5/1997 Main Road Local Road Access Road Tin Prospect Stellar Tenement Montana Zeehan 1000m Heemskirk Project rait MAP AREA Heemskirk Project ㅁ HOBART TASMANIA BURNIE Airfield Tasmania Que River N 100% owned Heemskirk tin project 100% owned St Dizier tin deposit Significant mining district Easy access to water & power Sealed road between both deposits Rail & road connect to Burnie port 18 km from Australia's largest tin mine Renison Bell St Dizier Southern Ocean Avebury Rosebery Renison Bell Henty Heemskirk Project Strahan Mt Lyell 20km#6CO 6 High Grade Resource ⚫ Heemskirk Mineral Resource 4.4mt grading 1.1% ㅁ ㅁ tin - 48kt of contained tin in 3 nearby deposits Queen Hill, 1.6Mt @1.2% tin as indicated resource All deposits open at depth ■ Highest grade tin project with JORC resource Heemskirk Mineral Resource STELLAR Deposit Indicated Inferred Total kt % Sn kt Sn kt % Sn kt Sn kt % Sn kt Sn Queen Hill 1,600 1.2 19 1,600 1.2 19 Montana 360 1.6 6 360 1.6 6 Severn 2,400 0.9 23 2,400 0.9 23 Total 1,600 1.2 19 2,760 1.0 29 4,360 1.1 48 cut-off grade 0.6% tin estimated on 3 March 2011 by Mining One Pty Ltd#7Positive Metallurgy ■ Traditional tin ore processing circuit proposed - comparable with Renison Bell circuit STELLAR ■ Tin present as cassiterite rather than more difficult to treat stannite Pre-concentration works well Mineral characterisation shows potential to produce 50% tin concentrate at 70% recovery Test work is on-going 7#88 Scoping Study Greenlight STELLAR ■ Attractive rate of return and 3.5yr payback advance project to pre-feasibility stage ⚫ US$12,780/t cash cost positions project competitively on the industry cost curve ⚫ Life of mine revenue of $673 million net of smelter charges 600,000 tpa throughput over 7.6 years provides economies of scale 3,900 tpa of tin in concentrate production ranks project as 2nd in Australia to Renison Bell#9Conservative Project Assumptions Parameter Units Assumption Comment Mine life years 7.6 Mining dilution % 15 ROM grade % 0.93 Treatment rate tpa 600,000 minimum life typical for underground mines average resource grade is 1.1% drawing from all three deposits Recovery % 70 target rate Tin in concentrate tpa 3,900 Concentrate grade % 50 Tin price (net) US$/t 22,500 average annual production rate typical grade net of 10% smelting charge Exchange rate US$ 1.00 Operating cash US$/t tin 12,780 43% operating margin cost Capital cost US$m 108 pre-production capital STELLAR#1010 Excellent Exploration Potential Precambrian Shale Sandstone Carbonates Volcanics Faut Tin Sulphide Outcrop Surface Projection of known Deposits Exploration Targets 1-8 STORMSDOWN Harbour FAULT Road QUEEN HILL PAYNES QUEEN 50 100 150 200m 360 600mE GOLF COURSE Heemskirk Road FAULT SEVERN Fowler Street 361 400mE MONTANA SEVERN 5 362 200mN N 5361800m 361 000mE Map Area RLS 1997 Zeehan Tasmania STELLAR#1111 Drilling Plan STELLAR 3000m in 5 diamond drill holes to test extension of Severn to a depth of 650m from surface 1000m of diamond drilling to test geophysical targets identified by aeromagnetic survey 2,000m of diamond drilling to upgrade Severn from inferred to indicated 3,000m of infill and extension drilling at the high grade Queen Hill and Montana deposits 1,000m of diamond drilling at St Dizier to upgrade historical results to JORC status#12Severn Long Section Southwest 5 361 750mN 5 362 000mN ⚫ ZS82 [email protected]% • ZS69 [email protected]% ZS73 [email protected]%. ZS42 [email protected]% 5362 250mN Northeast Surface at 1180mRL ZM27 [email protected]% ZM105 [email protected]% ZM20 [email protected]% ZS39 [email protected]% ZM67 [email protected]% ZS65 [email protected]% •ZS65 [email protected]% SEVERN DEPOSIT ZM37 [email protected]% 1000mRL- ZM86 [email protected]% • ZS43 [email protected]% •ZS72 [email protected]% •ZS87 [email protected]% Untested Potential 12 Granite Source ZM78 [email protected]% • • ZS74 [email protected]% MONTANA DEPOSIT •ZM85A [email protected]% • ZS84 [email protected]% •ZS81 [email protected]% • ZS107A [email protected]% ZS107 [email protected]% 750mRL- 200m Diamond Drill Hole and Tin Intersection Legend Historical Planned Infill Planned Expansion Crimson Creek Formation Resource Envelope STELLAR#13Is Heemskirk Another Renison ? STELLAR 13 67 500mN 66 000mN 66 500mN North South Surface -2000mRL 1500mRL 1000mRL 500m Source: MetalsX Group - Modified by Stellar Resources RENISON BELL TIN MINE QUEEN HILL MONTANA + SEVERN Heemskirk Tin Project Resource envelope Renison Bell Tin Mine Mined resource Unmined resource Success Creek group sediments Granite source rock + + +#14Feasibility Program STELLAR Indicative Timing Drilling Severn Extension RL Exploration Queen Hill Extension Montana Extension Infill Drilling Metallurgy Environmental Prefeasibility Feasibility Financing 2012 2013 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 14#15Disclaimer Forward Looking Statement STELLAR 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. Competent Persons Statement - Heemskirk Mineral Resource The information in this report that relates to Mineral Resources is based on information compiled by Michael McKeown who is a fellow of the Australasian Institute of Mining and Metallurgy. Michael McKeown is employed by Mining One Pty Ltd and he has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Michael McKeown consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Competent Person's 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 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2004 Edition). Mr Hazeldene 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. 15#16Stellar Resources Limited Level 17, 530 Collins Street Melbourne VIC 3000 Phone +61 3 9618 2540 Fax +61 3 9649 7200 www.stellarresources.com.au