Stellar Resources Limited · ASX:SRZ
Stellar Resources — Investor Presentation (February 2026)
34 slides from Stellar Resources's investor presentation, February 2026
Slide 1: Australia’s Next Tin Mine
Australia’s Next Tin Mine Aiming to Become a Global Top 10 Tin Producer Company Presentation February 2026 ASX:SRZ
Slide 2: Zeehan Townsite and 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: Stellar Resources Corporate Presentation February 2026
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 2,713M $0.036 $97.7M Mark Connelly | NON -EXECUTIVE CHAIR Shares On Issue Share Price Market Cap Corporate executive with over 35 years in mining and a wealth 25 February 2026 of leadership experience in the resources sector. Mr Connelly $13.3M Nil $84.4M has an outstanding
Slide 7: Differentiated Growth on a Global Scale
Differentiated Growth on a Global Scale Path to becoming a global top 10 tin producer Tin concentrate producers ranked by 2024 tin output (tonnes) Company 2024 Global Location of Market cap Rank Notes Name Prod. (t Sn) Prod. % primary asset (AUD$)# 1 Minsur S.A. 39,851* 14.3% Peru A$8.38B Tier 1 Jur
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: 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 98% tin contained Deposits open at depth Project is on St
Slide 10: Positive Severn Metallurgical Results
Positive Severn Metallurgical Results Strong tin recoveries and clean concentrate quality Potential for a highly sought-after unencumbered product from a stable Tier-1 jurisdiction Stellar Resources | Corporate Presentation | February 2026 Robust High tin Favourable ore Clean concentrate metallurgic
Slide 11: Development Options
Development Options Targeting reductions in cost, time and environmental impact Evaluating nearby infrastructure as part of PFS ✶ Comstock Mine Site closed in 1990’s ✶ Agreement signed to lodge Mining Licence application over area adjacent to Heemskirk ✶ Detailed assessment by reputable engineering
Slide 12: 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 (2023) Queen Hill Severn Vent Shaft only, upside into Prefeasibility Study (Upper) Above 1,100m Rl Increase Indicated Reso
Slide 13: 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 14: Resource Upgrade – Drilling Ongoing at Severn
Resource Upgrade – Drilling Ongoing at Severn Growth and high-grade tin potential ✶ Queen Hill drilling completed, Resource increased by 41% in February 2026 ✶ Severn drilling near completion, Resource upgrade due 2Q 2026 ✶ Montana no drilling since 2012, growth potential Stellar Resources | Corpora
Slide 15: Resource Upgrade Success
Resource Upgrade Success Queen Hill deposit – growth and high-grade tin potential ✶ 41% increase in Total Resource ZQ169 ✶ 46% increase in Indicated Category 5.3m @ 1.85% Sn ZQ181 ZQ173 8m @ 1.42% Sn 23.3m @ 2.20% Sn ZQ173 inc 3.45m @ 2.68% Sn inc 4.2m @ 3.76% Sn Stellar Resources | Corporate Presen
Slide 16: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential B B ’ Stellar Resources | Corporate Presentation | February 2026 Drill Hole Cross Section, drill hole ZS166, Indicated and Inferred resource blocks from the 2023 MRE Severn Long Section looking west showing Sept
Slide 17: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential Stellar Resources | Corporate Presentation | February 2026 Drillhole Cross Section, new drillholes ZS187 and ZQ182, Indicated and Inferred Resource blocks from the 2023 MRE. Severn Long Section looking west show
Slide 18: Resource Upgrade – Drilling Success
Resource Upgrade – Drilling Success Severn deposit – growth and high-grade tin potential Stellar Resources | Corporate Presentation | February 2026 Drillhole Cross Section, drillholes ZS187, ZS187W1B and ZS187W1C, Indicated and Inferred Resource blocks from the Severn Long Section looking west showi
Slide 19: 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 Stellar Resources | Corporate Presentation | February 2026 (2.4 x uplift) ▪ 84.7% Sn recovery achieved ▪ 64.2% of the mass rejecte
Slide 20: 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 | February 2026 1.50% Sn from 0.91% Sn average (1.6 x uplift) ▪ 82.4% Sn recovery achieved ▪ 50.0% mass rejected Optimised product generated: ▪ Fe
Slide 21: Ore Sorting – Major Economic Benefits
Ore Sorting – Major Economic Benefits Stellar Resources | Corporate Presentation | February 2026 ✶ 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 strateg
Slide 22: Global Tin Supply Falling
Global Tin Supply Falling 2025 Tin Production Unencumbered offtake in a tier 1 jurisdiction (Australia) likely to be highly sought after Tin Concentrate Total 2025 Tin Concentrate Production Percentage 284,059* tonnes -0.3% down from 2024 Indonesia 21% Myanmar 5% DR Congo 10% Banned all unrefined ti
Slide 23: LME Tin Spot Price and Stock Levels
LME Spot Tin Price and Stock Levels Spot Tin Price (L) Stock Levels (R) $55,000 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 | February 2026 $25,000 $20,000 4,000 $15,000 $10,000
Slide 24: 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 25: Tin Rock Chips Antimony Rock Chips
Tin Rock Chips Antimony Rock Chips Stellar Resources | Corporate Presentation | February 2026 East Renison Project Rock Chip Samples Refer to SRZ ASX Announcement 29 July 2025 – East Renison Project Update
Slide 26: Granite Tor Project
Granite Tor Project Strategic location with development optionality Consolidates Stellar’s land holding in Tasmania’s World Class Tin Province ✶ Acquired Granite Tor Project ✶ Tin potential – Stream sediment sampling has returned up to 8.1% Sn with follow up soil sampling delineating a 4km long >100
Slide 27: Heemskirk Tin Project Development Pathway
Heemskirk Tin Project Development pathway De-risking delivered Reconfigured Board to drive transitional strategy from explorer to developer Fully funded to advance development strategy Scoping Study refresh with Sept 23 MRE completed 9,500m resource extension & PFS drilling program Severn Ore Sortin
Slide 28: Stellar Resources Corporate Presentation February 2026
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 29: 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 30: 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 31: 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 32: 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 33: Appendix – Heemskirk Mineral Resource Estimate
Appendix 2 – Heemskirk Mineral Resource Estimate February 2026 Large high-grade 49% of MRE defined in High-grade zones St Dizier Satellite tin resource. Indicated category. defined in all deposits. Tin Project 9.51Mt @ 0.93% Sn 43.71kt of contained tin Mine plan accessing higher-grade 1.20Mt @ 0.69%
Slide 34: Appendix – Heemskirk Tin Project Benchmarking Assumptions
Appendix 3 – Heemskirk Tin Project Benchmarking Assumptions As of 24/02/2026 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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