Consent to Apply for Mining Licence at Heemskirk

• Binding agreement signed with Comstock owners to apply for Mining Licence over proposed Tailings Storage Facility
• Assessing use of Avebury Nickel Mine and Plant as potential processing route for Heemskirk Tin Project
• Aims to become a producer of 3,000 to 3,500 tpa of payable tin over first 6-10 years

Stellar Resources Limited (ASX: SRZ) has signed a binding agreement with Australian Hualong Pty Ltd (AHL) whereby AHL has consented to Stellar applying for a Mining Licence (ML) adjoining Stellar's Heemskirk Tin Project, near Zeehan on the west coast of Tasmania. This follows a detailed assessment by a reputable engineering firm that confirmed the potential for a Tailings Storage Facility (TSF) within the proposed ML area. The agreement grants Stellar consent to lodge the ML application, which will be incorporated into the Company's Prefeasibility Study (PFS) to bring the Heemskirk Tin Project into development. Stellar is also assessing the Avebury Nickel Mine and Plant, located less than 10 kilometres from Heemskirk, through a separate Memorandum of Understanding with the owners. If Stellar determines that the Avebury Nickel Plant is the preferred processing route, the Comstock owners have agreed to negotiate in good faith to permit Stellar to build a haulage road between the two sites. 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, which is an aspirational statement as the company does not have reasonable grounds to believe this can be achieved. 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.