Stellar Resources (ASX: $SRZ) Commences Drilling Program

Stellar Resources Limited (ASX: $SRZ) has initiated an extensive infill and extensional drilling program at the Heemskirk Tin Project in Western Tasmania. The program, which involves the commencement of a planned 24-hole program for approximately 9,500m, aims to target the Severn and Queen Hill deposits. The drilling is designed to upgrade additional resources to the Indicated category, provide samples for metallurgical testwork, and offer geotechnical and hydrological inputs. Additionally, the program will provide a platform for down hole electromagnetic (DHEM) surveys to identify extensional targets. The drilling program is expected to provide key study inputs for a Pre-Feasibility Study (PFS). Concurrently, the Company is updating the 2019 Scoping Study to incorporate the 2023 Mineral Resource Estimate (MRE) of 7.48Mt@1.04% Sn (77.82kt contained tin). The updated Scoping Study is on track to be released this quarter, with work streams to complete a PFS already underway.

Executive Chairman's Comments on Heemskirk Tin Project

This is a pivotal moment for Stellar Resources as we commence a significant infill and extensional drilling program at our flagship Heemskirk Tin Project, designed to accelerate us through Pre-Feasibility Studies, with the first of two drill rigs now commenced work onsite. The primary goal of the program is to make Heemskirk development ready through metallurgical, geotechnical and hydrological workstreams, while also upgrading additional tonnes from the Inferred to the Indicated Resource category and to provide down hole electromagnetic survey platforms to explore for extensions with which to expand the resource. The Company is finalising work in updating the 2019 Scoping Study with the recent 2023 MRE, and results are expected to bolster the Company's confidence in committing to the aggressive Pre-Feasibility workplan.

Summary of Heemskirk Tin Project Developments

Stellar Resources Limited (ASX: $SRZ) has commenced an extensive infill and extensional drilling program at the Heemskirk Tin Project, aiming to upgrade resources and support a Pre-Feasibility Study. The drilling program, which includes a planned 24-hole program for approximately 9,500m, is designed to target specific deposits and provide key study inputs for the PFS. Concurrently, the Company is updating the 2019 Scoping Study to incorporate the 2023 Mineral Resource Estimate (MRE) of 7.48Mt@1.04% Sn (77.82kt contained tin), with the updated Scoping Study expected to be released this quarter. Stellar Resources' focus going forward will be to complete exploration and resource drilling at the Heemskirk Project to further grow the resource and improve confidence by defining more tonnes in the indicated and measured category. The Company has also made a significant new high-grade silver, tin, zinc, lead, and Indium polymetallic discovery at its North Scamander Project in September 2023, and delineated multiple down hole conductions via DHEM and FLEM surveys, providing high-priority follow-up targets.