Stellar Resources Limited · ASX:SRZ
Stellar Resources — Investor Presentation (October 2025)
33 slides from Stellar Resources's investor presentation, Oct 23, 2025
Slide 1: Australia's Next Tin Mine
Australia’s Next Tin Mine Aiming to Become a Global Top 10 Tin Producer Company Presentation 23 October 2025 ASX:SRZ
Slide 2: Zeehan Townsite Heemskirk Deposit
Zeehan Townsite Built on mining Heemskirk Deposit Proposed portal
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Stellar Resources Limited (ASX: SRZ) (SRZ or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. Thi
Slide 4: Cautionary Statement
Cautionary Statement Scoping Study Parameters The Scoping Study referred to in this announcement 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
Slide 5: Heemskirk is the highest-grade undeveloped tin project in Australia
Heemskirk is the highest-grade undeveloped tin project in Australia Project to be supplied by and third highest globally 100% Renewable Energy via 5 hydro power stations and Granville Harbour wind farm within 30km. Potential to rank as a top 10 global producer* and the second largest in Australia St
Slide 6: Corporate Snapshot
Corporate Snapshot Board 2,275M $0.028 $63.7M Mark Connelly | NON -EXECUTIVE CHAIR Shares On Issue Share Price Market Cap Corporate executive with over 35 years in mining and a wealth 22 October 2025 of leadership experience in the resources sector. Mr Connelly $6.68M Nil $57.0M has an outstanding t
Slide 7: Differentiated Growth on a Global Scale
Differentiated Growth on a Global Scale Path to becoming a global top 10 tin producer Tin concentrate producers ranked by 2024 tin output (tonnes) Company 2024 Global Location of Market cap Rank Notes Name Prod. (t Sn) Prod. % primary asset (AUD$)# 1 Minsur S.A. 39,851* 14.3% Peru A$5.2B Tier 1 Juri
Slide 8: Heemskirk Tin Project
Heemskirk Tin Project Strategic location with development optionality Ideal location to be developing Australia’s next tin mine ✶ World class fertile metal province → Over 100 years of mining with significant production of Tin, Lead, Silver, Nickel and Gold. ✶ Major underground operating mines → Ren
Slide 9: Development Options
Development Options Targeting reductions in cost, time and environmental impact Evaluating nearby infrastructure as part of PFS ✶ Avebury Plant in care and maintenance ✶ <10km on sealed bitumen from Heemskirk ✶ Nameplate production capacity 900ktpa ✶ Tailings storage facilities (TSF) potential and e
Slide 10: Heemskirk Mineral Resource
Heemskirk Mineral Resource Heemskirk Mineral Resources Estimate1 Highest grade undeveloped project in Australia with clear scope for resource growth High Grade Attractive metallurgy Resource upside Advanced permitting High-grade zones defined 97% tin contained Deposits open at depth Project is on St
Slide 11: Scoping Study – The Base Case…
Scoping Study – The Base Case… Expanded PFS expected to materially improve economics and development optionality Proposed Heemskirk Tin Processing Plant 2024 Base Case (pre-tax) ~1,900 tpa payable tin Initial Mine Life 12 year Average Annual Production 350kt LOM Tin in Concentrate +22kt ROAD FROM DE
Slide 12: Resource Upgrade – Drilling Underway
Resource Upgrade – Drilling Underway Growth and high-grade tin potential Stellar Resources | Corporate Presentation | October 2025 Refer to ASX Announcement 4 September 2023 – Heemskirk Tin Project MRE Update. ASX:SRZ | 12
Slide 13: Mineral Resource Conceptual Mine Plan
Mineral Resource Conceptual Mine Plan Driving Upside Potential Increase in mining inventory Queen Hill Portal 1,180m Rl Vent Shaft 1150m Rl Scoping Study used indicated resource only, Queen Hill Severn Vent Shaft upside into Prefeasibility Study (Upper) Above 1,100m Rl Increase Indicated Resource th
Slide 14: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Queen Hill deposit – growth and ZQ170 high-grade tin potential 17m @ 1.79% Sn ZQ169 inc 7.90m @ 2.74% Sn ✶ Drilling delivers high-grade results outside 5.3m @ 1.85% Sn ZQ170 the Indicated Category ZQ173 ✶ Extensions at depth confirmed and open ZQ181 23.3m @ 2.20%
Slide 15: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential B B ’ Stellar Resources | Corporate Presentation | October 2025 Drill Hole Cross Section, drill hole ZS166, Indicated and Inferred resource blocks from the 2023 MRE Severn Long Section looking west showing Sept
Slide 16: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential Stellar Resources | Corporate Presentation | October 2025 Drillhole Cross Section, new drillholes ZS187 and ZQ182, Indicated and Inferred Resource blocks from the 2023 MRE. Severn Long Section looking west showi
Slide 17: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential Stellar Resources | Corporate Presentation | October 2025 Drillhole Cross Section, drillholes ZS187, ZS187W1B and ZS187W1C, Indicated and Inferred Resource blocks from the Severn Long Section looking west showin
Slide 18: Ore Sorting – Excellent Results Across Severn Deposit
Ore Sorting – Excellent Results Across Severn Deposit Ore Sorting XRT Flow Sheet ✶ High-grade product generated: ▪ Head grade increased to 1.65% Sn from 0.70% Sn average (2.4 x uplift) Stellar Resources | Corporate Presentation | October 2025 ▪ 84.7% Sn recovery achieved ▪ 64.2% of the mass rejected
Slide 19: Ore Sorting – Strong Large-Scale Results at Queen Hill
Ore Sorting – Strong Large-Scale Results at Queen Hill High-grade product generated: ▪ Head grade increased to Stellar Resources | Corporate Presentation | October 2025 1.50% Sn from 0.91% Sn average (1.6 x uplift) ▪ 82.4% Sn recovery achieved ▪ 50.0% mass rejected Optimised product generated: ▪ Fee
Slide 20: Ore Sorting – Major Economic Benefits
Ore Sorting – Major Economic Benefits Stellar Resources | Corporate Presentation | October 2025 ✶ Reduce plant capital costs and optimise size ✶ Lower operating and processing costs ✶ Reduce tailings volumes ✶ Produce coarse backfill material for underground mining ✶ Improved grade blending strategi
Slide 21: Global Tin Supply Falling
Global Tin Supply Falling 2024 Tin Production Unencumbered offtake in a tier 1 jurisdiction (Australia) likely to be highly sought after Tin Concentrate Total 2024 Tin Concentrate Production Percentage 279,067* tonnes -4.36% down from 2023 Indonesia 19% Myanmar 8% DR Congo 9% Banned all unrefined ti
Slide 22: LME Spot Tin Price and Stock Levels
LME Spot Tin Price and Stock Levels $55,000 Spot Tin Price (L) Stock Levels (R) 12,000 $50,000 $45,000 10,000 $40,000 8,000 $35,000 LME Tin Stock Levels (Tonnes) LME Spot Tin Price (US$/t) $30,000 6,000 Stellar Resources | Corporate Presentation | October 2025 $25,000 $20,000 4,000 $15,000 $10,000 2
Slide 23: East Renison Project
East Renison Project ✶ Adjoins the Renison Tin Mine mining lease1 and covers the interpreted continuation of the Federal-Bassett and Montezuma Faults. ✶ These faults are main conduits for hydrothermal fluids that play an important part in the localisation of significant mineralisation in the distric
Slide 24: Tin Rock Chips Antimony Rock Chips
Tin Rock Chips Antimony Rock Chips Stellar Resources | Corporate Presentation | October 2025 East Renison Project Rock Chip Samples Refer to SRZ ASX Announcement 29 July 2025 – East Renison Project Update
Slide 25: New Acquisition - Granite Tor Project
New Acquisition - Granite Tor Project Strategic location with development optionality Consolidates Stellar’s land holding in Tasmania’s World Class Tin Province ✶ Acquired Granite Tor Project ✶ $35k cash and 6m shares (escrowed 12 months) plus 2m shares on milestone of drillhole intersecting 2m @ 1.
Slide 26: Heemskirk Tin Project Development pathway
Heemskirk Tin Project Development pathway De-risking delivered in the last 18 months Reconfigured Board to drive transitional strategy from explorer to developer Successfully raised $13.2m. Fully funded to advance development strategy Reinitiated Baseline Studies 9,500m resource extension & PFS dril
Slide 27: Heemskirk is the highest-grade undeveloped tin project in Australia
Heemskirk is the highest-grade undeveloped tin project in Australia and third highest globally Potential to rank as a top 10 global producer* and the second largest in Australia Stable tier-1 jurisdiction, strong mining history, significant processing capacity and infrastructure, 100% renewable ener
Slide 28: Contact Us
Contact Us Simon Taylor Managing Director E: simon@stellarresources.com.au M: +61 409 367 460 Jason Mack White Noise Communications E: jason@whitenoisecomms.com M: +61 400 643 799 ASX: SRZ
Slide 29: North Scamander Project
North Scamander Project High-grade discovery ✶ Located in the Scamander Mineral Field in Northeast Tasmania. ✶ Numerous high-priority drill ready targets including North Scamander and Pinnacles. ✶ Stream sediment and soil Geochem returned significant rock-chip results up to 1.1% tin. Stellar Resourc
Slide 30: North Scamander Project
North Scamander Project High-grade discovery ✶ Exploration drill hole (NSD005) returned a significant new high-grade Ag-Sn-Zn-Pb-In polymetallic discovery. ✶ 32.0m @ 141 g/t Ag, 0.34% Sn, 3.8% Zn, 2.0% Pb, 77 g/t In, 19 g/t Ga from 130.0m inc. o 5.0m @ 495 g/t Ag, 1.04% Sn, 5.2% Zn, 7.1% Pb, 113 g/t
Slide 31: Appendix – 2024 Scoping Study
Appendix 1 – 2024 Scoping Study Summary of Technical and Financial Parameters Capital Cost Summary Tin Price Sensitivity Unit Total LOM (A$M) (US$M) Tin Price (US$/t Sn) Mining 11 7 26,000 28,000 30,000 32,000 34,000 Ore Production (kt) 3,894 Processing & Surface Infrastructure 40 27 NPV Pre Tax 87
Slide 32: Appendix – Heemskirk Mineral Resource Estimate
Appendix 2 – Heemskirk Mineral Resource Estimate September 2023 Large high-grade 47% of MRE defined in High-grade zones St Dizier Satellite tin resource. Indicated category. defined in all deposits. Tin Project 7.48Mt @ 1.04% Sn 36.99kt of contained tin Mine plan accessing higher-grade 1.20Mt @ 0.69
Slide 33: Appendix – Heemskirk Tin Project Benchmarking Assumptions
Appendix 3 – Heemskirk Tin Project Benchmarking Assumptions As of 20/10/2025 Measured Indicated Inferred Total (M&I&I) Resource Resource Project Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Resource Company Project Country Source Date Products Grade Contained Stage (Mt) (%) T
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