Stellar Resources Limited · ASX:SRZ

Stellar Resources — Noosa Mining Conference 2014

25 slides from Stellar Resources's conference presentation, Jul 18, 2014

1. Slide 1: Heemskirk Tin Project - Tasmania

   For personal use only Heemskirk Tin Project - Tasmania MD: Peter Blight Noosa Mining Conference July 2014 ASX: SRZ www.stellarresources.com.au

2. Slide 2: Agenda

   Agenda For personal use only  Company Overview  Tin Market Update  Project Review  Exploration Potential  Targets for 2014 2

3. Slide 3: Stellar is well funded

   Stellar is well funded For personal use only ASX Code SRZ (listed April 2005) Shares on Issue 300.2M Options on Issue 25.0M Share Price 4.4c (12 month range: 4-8c) Market Capitalisation $13M Cash $5.0M (31 Mar 2014) Debt $0.0M Ownership Structure Top 20 70.2% Capetown SA 20.8% Bunnenberg Family 14.9

4. Slide 4: Strong board and management

   Strong board and management For personal use only  Phil Harman (Non-Executive Chairman) geophysicist with 30 years experience in BHP Billiton minerals exploration. Past and present Director of several ASX listed companies.  Peter Blight (Managing Director) geologist and mining analyst with 31 year

5. Slide 5: Indonesia creates short-term tin price uncertainty

   Indonesia creates short-term tin price uncertainty For personal use only  Indonesian exports down 15% yoy  High exports in May and June confusing the market  Unreported stocks drawn into the market increasing LME stocks  Underlying production rates should see LME stock decline resume later in 20

6. Slide 6: Long-term market trends = high tin prices

   Long-term market trends = high tin prices For personal use only  Demand growth emerging from a low base  Exciting outlook for new uses  Indonesian production reforms restraining supply  Strategic supply of tin back on the radar  New production delayed by weak equity markets  ITRI forecasting m

7. Slide 7: Stellar's well located tin assets

   Stellar’s well located tin assets For personal use only  Tin assets100% owned  High grade Heemskirk + St Dizier  Renison-style deposit well known  Exploration potential high  Significant mining district  Infrastructure on door step  Low political risk  Low environmental risk 7

8. Slide 8: Project History

   Project History For personal use only  1960s - Gippsland Ltd explored the outcropping Queen Hill tin deposit.  1970s – Aberfoyle Ltd earned a 60% interest.  1980s – Aberfoyle Ltd discovered Severn and Montana deposits.  1986 – Project suspended following the tin price collapse.  2008 – Stellar

9. Slide 9: Excellent progress to date

   Excellent progress to date For personal use only  Maximised tin price leverage by moving to 100% ownership  Increased resource by 49% to 71,500t contained tin - worth $1.6bn  Demonstrated presence of high grade tin – best result: 7m@4% tin  Demonstrated recovery of 70% through bench scale met te

10. Slide 10: High-grade Heemskirk resource

    High-grade Heemskirk resource For personal use only  49% increase in contained tin to 71,500 tonnes (from 48,000 tonnes)  Resource risk reduced through greater geological consistency Classification Deposit Tonnes Grade Contained Tin millions % tin tonnes Indicated All 1.41 1.26 17,790 Inferred All

11. Slide 11: St Dizier – adds low cost resource

    St Dizier – adds low cost resource For personal use only  Add-on resource for the Heemskirk Project  Open pittable Indicated Resource  Potential iron by-product credit Classification Millions Tonnes Sn% Sol Sn% WO3 % Fe % S% Indicated 1.20 0.69 0.09 0.04 23.70 2.64 Inferred 1.06 0.52 0.22 0.05 22

12. Slide 12: Heemskirk + St Dizier = 85kt tin

    Heemskirk + St Dizier = 85kt tin For personal use only Heemskirk: highest grade undeveloped ASX listed tin resource 2.00 bubble size = kt of contained tin Renison Bell 1.75 MLX 50% 1.50 Heemskirk 1.25 Tin Grade % 2013 Heemskirk + St Dizier 2011 1.00 2014 Achmmach KAS 100% MGT 83.5% 0.75 Rentails 0.5

13. Slide 13: PFS defines baseline for project

    PFS defines baseline for project For personal use only Description Units Value Mining inventory Mt 3.95 Mined ore tin grade % tin 1.06 Average Mill Throughput Mtpa 0.6 Initial mine life Years 6.75 Tin recovery % 70 Average concentrate grade % 48 Average tin in concentrate production tpa 4,327 Mine g

14. Slide 14: Focus on enhancing economics

    Focus on enhancing economics For personal use only Description Economic Outputs Tin price scenarios -10% Base Case +10% LME tin price US$/t 22,950 25,500 28,050 NPV 8% A$M 11 61 103 IRR % 10 19 26 Payback years 4.7 3.7 3.1 Operating margin A$/t ore treated 51 70 86 Total cash surplus A$M 77 152 215

15. Slide 15: Potential to optimise mine plan

    Potential to optimise mine plan For personal use only Queen Hill Long Hole Stoping Montana Long Hole Stoping Severn Drift & Fill Severn Long Hole Stoping 15

16. Slide 16: Optimisation will add value

    Optimisation will add value For personal use only  Resource expansion:  Each additional year of life adds $13 million or 22% to NPV  Deeper drilling at Queen Hill and Severn will add life  St Dizier could add 1 to 2 years to resource life  Higher grade at Severn:  Increasing overall head grade

17. Slide 17: Excellent exploration potential

    Excellent exploration potential For personal use only  Mineralisation emplaced along structures by explosive exhalations from a deep-seated tin granite  Potential for additional deposits within large halo of low grade tin surrounding known tin deposits  All deposits open at depth, poorly explored

18. Slide 18: Mineral zonation implies more tin

    Mineral zonation implies more tin For personal use only  Historical mining focused on silver-lead veins surrounding Queen Hill  Queen Hill and Montana: silver-lead veining associated with tin  Severn: low grade copper associated with tin 18

19. Slide 19: Deposits open at depth

    Deposits open at depth For personal use only  ZQ117 and ZS120 show mineralisation is open at depth  Thicker Queen Hill intersections where sediments faulted against black shales  Carbonate – rich sediments at Severn increase potential for higher grade replacement mineralisation  Very encouraged

20. Slide 20: Potential for high grade hits

    Potential for high grade hits Best Intersections: For personal use only  Queen Hill QH 125 - 32m @ 1.6% Sn  Severn ZS113 – 7m @ 4.0% Sn  Montana ZM67 – 8m @ 3.9% Sn 20

21. Slide 21: For personal use only

    St Dizier in close proximity 20 km from planned process plant via a sealed road For personal use only   Low development risk in an area previously mined for alluvial tin 21

22. Slide 22: St Dizier – potential open pit

    St Dizier – potential open pit Pipe-like tin-magnetite skarn in serpentised carbonate For personal use only   Best grades within 70m of surface 22

23. Slide 23: Targets for 2014

    Targets for 2014 For personal use only  Complete a scoping study on St Dizier  Extend Queen Hill and Severn resources at depth  Optimise metallurgical test results to improve recovery  Lodge notice of intent - environmental permitting  Upgrade preliminary feasibility study  Commence in-fill dr

24. Slide 24: Disclaimer

    Disclaimer Forward Looking Statement For personal use only This presentation was prepared by Stellar Resources Limited ( the “company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the company or as an offer or invitation with respect to those

25. Slide 25: Stellar Resources Limited

    Stellar Resources Limited Level 17, 530 Collins Street For personal use only Melbourne VIC 3000 Phone +61 3 9618 2540 Fax +61 3 9649 7200 www.stellarresources.com.au 25

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