• Stellar signs non-binding MOU to evaluate using Avebury Nickel Mine and Plant as part of Heemskirk Tin Project
• Avebury has 900ktpa processing capacity and was recently put into care and maintenance
• Stellar to investigate options for processing, toll treating, or acquiring Avebury

Stellar Resources Limited (ASX: SRZ) has signed a six-month non-binding Memorandum of Understanding (MOU) with Hartree MI UK Limited, Allegiance Mining Pty Ltd, and Avebury (Operating) Pty Ltd, the owner of the Avebury Nickel Mine and Plant ('Avebury'). Avebury is located less than 10 kilometres on sealed bitumen road from Stellar's Heemskirk Tin Project ('Heemskirk') in western Tasmania. The Avebury Nickel Mine and Plant has a nameplate production capacity of 900ktpa and was recently put into care and maintenance due to the decline in the nickel price after producing nickel concentrates from October 2022 to March 2024. Under the MOU, Stellar will investigate commercial options for utilizing Avebury to treat ore from Heemskirk through plant modifications required to enable tin processing, co-processing, toll treating, and/or acquiring the project or any similar transaction, including the rights to explore for and/or exploit minerals on the Avebury Tenements.Stellar is well advanced with its Heemskirk Prefeasibility Study (PFS) and is exploring several options to bring the project into development, including building a standalone project, using existing regional infrastructure, or a combination of both. The MOU provides Stellar a 6-month period to evaluate potential options to use the Avebury plant.

Stellar aims to become a producer of 3,000 to 3,500 tpa of payable tin over the first 6 to 10 years of production at Heemskirk. The PFS studies are focused on advancing towards this goal by improving upon the base case scoping study of 1,900 tpa over a 12-year mine life.