Stellar Resources Limited reported assay results from the Severn wedge hole (ZS143W), along with results from holes ZO144 and ZW145 completed as part of the Phase 1 Drilling Program at the Company's flagship Heemskirk Tin Project in Tasmania. Assay results from Severn wedge hole ZS143W completed in late-January confirm wide zones of high- grade tin (Sn) mineralisation with 20m of cumulative tin mineralisation intersected approximately 600m
below surface, including the following key intercepts: 3.8m @ 1.10% Sn from 585.0m; 3.0m @ 1.31% Sn from 635.0m and 8.4m @ 0.73% Sn from 650.7m The ZS143W results demonstrate continuity of tin mineralisation between the bottom of the Severn Inferred Resource1 (~70m above) and the comparable tin intercepts in parent hole ZS143 (~30m below)7. Results from all three Phase 1 holes at Severn (ZS143W, ZS143 and ZS140) successfully demonstrate continuation of the tin system at depth confirming potential to significantly expand the Severn resource which remains open at depth and along strike. Assay results from the second Phase 1 drillhole at Oonah (ZO144) confirm multiple zones of lower grade tin mineralisation ~40m below the Oonah Inferred Resource1, in line with the previous hole at Oonah (ZO142)5. Assay results from Phase 1 drillhole (ZW145) targeting depth extensions of the Zeehan Western historic mine confirm narrow high-grade silver-lead-zinc fissure veins. Drillhole ZQ146 completed in February, targeting depth extensions of the Zeehan Queen No. 4 historic mine, intersected sulphide mineralisation with anomalous tin observed from portable XRF readings. Assay results expected in mid-May 2022. Eight of the Phase 1 Drilling Program holes now completed with the last Phase 1 hole (ZS148) at 261m targeting extension of the Severn Indicated Mineral Resource with sulphide veining observed from ~235m. First hole in the Phase 2 Drilling Program (ZS149) at Severn commenced. Hole designs for the Phase 2 drilling program currently being finalised with details to be announced shortly. This program will focus on: Infill drilling within the Severn Inferred Resource targeting extension of the Severn Indicated Resource. Drill testing the South Severn magnetic and conductivity target at depth.6 The ZS143W results demonstrate continuity of tin mineralisation between the bottom of the Severn Inferred Resource1 (approximately 70m above) and similar tin intercepts in parent hole ZS1437 (approximately 30m
below). The dip of the Severn deposit appears to flatten around the position of drillhole ZS143W, which also occurs further to the South. Results from all 3 Phase 1 holes at Severn (ZS143W, ZS143 and ZS140) successfully demonstrate continuation of the tin system at depth confirming potential to significantly expand the Severn resource which remains open at depth and along strike. The ZO144 results are comparable to the previous Oonah hole (ZO142)5, both of which intersected lower grade tin mineralisation below the silver-lead-zinc fissure lodes mined in the historically significant Oonah mine and the Oonah Inferred Resource (0.59 Mt at 0.9% Sn, 0.8% Cu, 0.1% Pb, 0.1% Zn. Ag not included) 1 defined by previous drilling below the historic workings. A 9-hole Phase 1 diamond drilling program (for ~4,900m) commenced in June 2021, targeting new areas of high-grade tin mineralisation with 2 rigs on site including: Severn - 2 holes (with wedges and daughter holes) initially planned targeting depth extensions below the Severn tin resource. The 2 parent holes have been completed and wedge/daughter hole was also completed from the second hole. A further 2 holes at Severn were added to the Phase 1 program in Dec 2021 based on the success of the first 2 Severn holes. Depth Extensions of key historic silver-lead-zinc mines - 7 holes initially planned targeting depth extensions below the historic silver-lead mines with typical grades mined ranging from 20 to 100 oz/t Ag. These holes have targeted depths where the interpreted transition of silver-lead-zinc mineralisation into cassiterite (tin) mineralisation may occur. Five of these holes have been completed with two of the holes re-allocated to further drilling at Severn in December 2021.