• Material improvement in metallurgical performance with >70% tin recovery
• Flowsheet enhancements including ore sorting, gravity regrind, and magnetic separation
• High-quality saleable concentrate grading 42-49% Sn

Stellar Resources Limited (ASX: SRZ) is pleased to report updated Metallurgical testwork results for the Queen Hill orebody at its Heemskirk Tin Project in Western Tasmania. Comprehensive testwork by ALS Metallurgy Burnie on ore-sorted Queen Hill material demonstrates a clear pathway to >70% tin recovery, representing a material improvement over prior studies (~62.7%). The metallurgical testwork program was designed and overseen by Mr Geoff Beros, former Chief Metallurgist at the nearby Renison Tin Mine. The testwork supports production of a final saleable tin concentrate grading in the 42-49% Sn range, consistent with smelter requirements. Flowsheet enhancements, including incorporation of ore sorting, a gravity regrind stage, and magnetic separation, have resulted in increased overall recovery and concentrate grade. These modifications enhance cassiterite recovery within the coarse gravity circuits, reducing reliance on fine recovery processes. The strong recovery performance highlights the importance of maintaining high tin recovery through the ore sorting stage. The integrated testwork program demonstrates a credible pathway toward achieving overall tin recoveries in excess of 70%, supported by strong recovery through coarse gravity circuits, incremental gains from regrind-assisted liberation and scavenger recovery, and additional recovery contributions from fine gravity and flotation circuits. Improved recoveries at both Queen Hill and Severn are expected to have a positive impact on project economics as part of the ongoing Prefeasibility Study (PFS).

The Company has commenced preliminary, non-binding discussions with potential offtake partners regarding concentrate specifications and requirements. The Heemskirk Project represents a rare alignment of geological quality and Tier-1 jurisdictional security for tin supply, positioning the project to deliver a clean, high payability tin concentrate.