Quarterly Activities/Appendix 5B Cash Flow Report

• Stelar entered an earn-in agreement for the Hill of Leaders Tungsten Project in the Northern Territory.
• Initial field programs completed with high-grade tungsten assays exceeding 1% WO3.
• The company has fast-tracked a Reverse Circulation (RC) drilling program to test continuity and grade at depth.

Stelar Metals Limited (ASX:SLB) has reported promising results from its initial field programs at the Hill of Leaders Tungsten Project in the Northern Territory. The company entered an earn-in agreement with F&H Brothers Metals Pty Ltd, securing an option to acquire 100% of the project. Surface rock chip and grab samples collected during the quarter returned multiple high-grade tungsten assays exceeding 1% WO3, indicating widespread scheelite and wolframite mineralization. The mineralisation comprises multiple subparallel and stacked quartz veins in mineralised corridors extending over widths of 100m and over 2km in length. Stelar has fast-tracked planning for its maiden RC drilling program to test continuity and grade at depth, with drilling expected to commence in the coming weeks. An Ultra High Definition (UHD) airborne survey completed after the quarter identified subtle structures and alteration patterns, defining new tungsten-rich areas to target in the upcoming RC drill program.

Stelar Metals is optimistic about the potential of the Hill of Leaders Tungsten Project, positioning it as a significant early-stage tungsten discovery with high-grade mineralization.