Positive Metallurgical Results for Heemskirk Tin Project

• Robust metallurgical performance with potential total tin recoveries of 75% and high-grade, low-impurity concentrates
• Favorable ore mineralogy with dominant pyrite and only trace amounts of penalty elements
• Reduced reagent consumption through magnetic separation to remove siderite

Stellar Resources Limited has reported positive results from a detailed metallurgical testwork program conducted on core samples from the Severn Deposit, the largest orebody within the Heemskirk Tin Project in Western Tasmania. The program, overseen by former Chief Metallurgist at the nearby Renison Bell Tin Mine, confirmed the quality metallurgical properties of the Severn Deposit. Key findings include high tin recoveries of up to 75%, producing concentrates grading 45-50% Sn, and a favorable sulphide mineralogy dominated by pyrite with only trace amounts of potential smelter penalty elements. Incorporation of magnetic separation has also demonstrated a 75% reduction in consumable flotation agents. The results validate the robustness of the conventional flotation and gravity process flowsheet and identify opportunities for further recovery gains through optimization. Stellar has commenced preliminary offtake discussions, highlighting the project's potential to deliver a clean, high-payability tin concentrate suited to global smelters.

The Prefeasibility Study for the Heemskirk Tin Project is ongoing, with the metallurgical program concluding alongside an updated mineral resource estimation, mine design, and engineering work. These parameters will be incorporated into the PFS, targeted for completion in H1 2026.