Stellar Resources Limited announced the results of an updated Mineral Resource Estimate (MRE) for its Heemskirk Tin Project. Updated Mineral Resource Estimate An updated Heemskirk Tin Project Total Mineral Resource Estimate (MRE) of 7.6Mt @ 1.1% Sn (81,976t contained Sn) at a cut-off grade of 0.6% Sn has been defined in accordance with the JORC Code 2012 by Independent Technical Consultant, Ross Corben from Geowiz Pty. Ltd., Additions to the Indicated MRE resulting from the seven Severn infill holes completed in 2021 and 2022 are highlighted on the long section. Basis of Updated Mineral Resource Estimate; The updated MRE has been estimated by Independent Technical Consultant, Ross Corben from Geowiz Pty. Ltd., based upon: Results of all drilling completed over the Heemskirk deposits including the 2021 and 2022 drilling programs, previous drilling completed by Stellar and historical drilling completed by other companies. Mineralised intersections for the three main mineralised zones at Severn were manually coded within each drill hole using a nominal 0.4% Sn cutoff. The mineralised zones are generally stratabound and demonstrate reasonable sectional continuity given the broad drill spacing and style of mineralisation modelled. The boundaries between the three zones are low grade breaks that are parallel with the
orientation of mineralisation. The coded mineralised intersections were loaded into Leapfrog software and vein geological models were generated from the coded intervals for the three main zones. The Leapfrog wireframes were exported into Surpac software to constrain the mineral resource modelling. All samples were composited to 1m lengths within the coded domain intervals. A statistical analysis was undertaken on the sample composites and top cuts were applied to the Sn composites on a domain by domain basis in order to reduce the influence of extreme values on the mineral resource estimates. The top-cut values were chosen by assessing the high-end distribution of the grade population within each domain and selecting the value at which the distribution became erratic. Statistical and geostatistical analysis was carried out using Leapfrog Edge software program on the one metre composited data from the three domains. A block modelled resource estimation was calculated using a dynamic anisotropy ordinary kriged algorithm for Sn constrained by the Leapfrog generated solid models using only composites from within that domain. An ID2 algorithm was used to interpolate S, Cu, Pb, Zn, soluble Sn and SG into the resource model. The estimation was validated by visually checking the interpolation results against drill hole data in plan and section, comparing input and output statistics, generating section swath plots and comparing with previous estimates. The estimate is considered to be robust on the basis of the above checks. Classification of the Heemskirk Tin deposits taking into account data quality and distribution, spatial continuity, confidence in the geological interpretation and estimation confidence. Indicated Mineral Resources have been defined where higher confidence in the geological model and mineral resource estimation exists in areas with where the drill spacing is approximately 30m to 50m. The remainder of the mineral resource is classified as Inferred Mineral Resource due to the low confidence in the local grade estimation and moderate confidence in the geological interpretation resulting from short range variability of the mineralisation and the broad drill spacing (typically 100m between drilling intercepts). Inferred and Indicated Mineral Resources were reported above a 0.6% Sn cut-off and classified according to the guidelines of the 2012 edition of the JORC Code.