Stelar Metals Limited - High-grade copper rock chip assays along 3km strike at Baratta

Stelar Metals Limited (ASX:SLB) ('Stelar Metals' or the 'Company') is pleased to provide an update on the laboratory-assayed rock chip samples collected during June at the Baratta Copper Project in South Australia.

Baratta is considered highly prospective for Sedimenthosted Stratabound Copper mineralisation and is analogous to the Central African Copper Belt (CACB). Laboratory assays of rock chips collected along the 3-kilometre strike length of the gossans sampled in June have returned high-grade copper assays up to 28.7% copper, which validates the recently announced (ASX:SLB 3/7/24 & 5/7/24) soil results. 21 of the assayed 72 rock chips samples returned over 10% copper distributed along the strike length of a series of stacked gossans mapped and sampled in June 2024 by Stelar. Geological mapping and surface sampling is still ongoing

The historic Baratta Copper Mine produced copper ore between 1896 and 1904 from a 1.5 km-long zone of stratabound workings in a structure splaying off the major Bibliando Thrust structure. At least four mineralised horizons of quartz-haematite gossan extend for several kilometres through Stelar's tenements, coincident with a recently discovered large Induced Polarisation (IP) chargeable anomaly as it approaches the Bibliando Thrust

Sediment-hosted Stratabound Copper (SSC) deposits are the world's second most important source of copper and account for 20% of the world's copper production. In 2024, the Central African Copper Belt (CACB), which spans the Democratic Republic of Congo and Zambia, is positioned to be the second-largest global copper producer behind Chile's large porphyry deposits. In Australia, only the Flinders Ranges and the Sturt Shelf are considered prospective for this highly prized style of copper mineralisation.

Surface Sampling at Baratta

Stelar is currently undertaking a detailed surface sampling and geological mapping study over a 7-kilometre corridor that contains the historic Baratta Copper Mines. Assay results have been received from the initial 72 rock chip samples collected along a 3.4-kilometre strike length portion between the main historic Baratta Mine and east towards North Bore. In conjunction with the systematic soil sampling program1 , rock chip samples were selected from outcrops of weathered gossan, historic mine spoil, and minor excavations. Intertek Laboratories (Adelaide) undertook the analysis using a 4-acid digest and 48-element suite. In June, 1,182 soil samples were also collected over the central portion of the Baratta Copper Mine area. The Company's Niton XL5-plus portable XRF consistently returned highly anomalous copper values along several gossanous horizons, which have now been substantiated by the rock chip laboratory assays. Anomalous copper was consistently identified along the strike of the surveyed area in parallel sets of gossans. 21 samples returned copper assays over 10% Cu and close to two-thirds of samples returned over 5% Cu. Additional sampling will be undertaken in July along the 7-kilometre strike of the prospective Baratta Copper Area.

Four distinct, stratigraphically controlled, continuous, mineralised gossans have been mapped to date along a central 3.4-kilometre strike length at Baratta. The gossans and sampling are open to both East and West. Throughout the area mapped, there are abundant shallow historical excavations beyond the mined area, where there are numerous shallow shafts. At the surface, the gossans, which comprise quartz, haematite, chalcocite, malachite, azurite, siderite and ankerite, occur in reduced dark grey-green metasiltstones and dolomitic mudstones. Individual gossans have been mapped up to five metres thick. The Wilyerpa Formation at Baratta is a package of sedimentary rocks comprising cyclical beds of sandstones, siltstones, mudstones and shales. Better gossan development occurs in the less permeable mudstones. Located on the northern flank of the Bibliando Dome, the stratigraphy dips moderately to the north.

Next Steps

Surface sampling and geological mapping will continue in July, extending the mapped gossans to the west over the large GA-IP chargeable anomaly and east towards North Bore. Further sampling is also planned to the north of the current survey area over the recently discovered new gossans. Additional rock chips have been submitted for laboratory assay, with results expected in August. Future work will also focus on the Bibliando Thrust, where several recorded mineral occurrences are located, and the elongated Bibliando Diapir in the south of EL 6863. The Company continues to monitor the Native Title situation and will lodge applications for drilling at Baratta when the Adnyamathanha Traditional Owners come out of Administration.

Contact:

Colin Skidmore

Chief Executive Officer

Stelar Metals Limited

Tel: [phone]

Email: [e-mail]

ABOUT STELAR METALS

Stelar Metals' experienced and successful exploration and development team is targeting the discovery and production of critical minerals, with increasing global demand to enable the world to achieve net zero emissions. Stelar's Trident Lithium Project is located near mining, industrial, transport and green power infrastructure at Broken Hill in NSW. The Trident Lithium Project extends over the 20km strike length of the Euriowie Tin Pegmatite Field and is highly prospective for hard rock lithium mineralisation. Mapped LCT-type pegmatites vary in size but can be up to 100 metres wide and extend in outcrop for over 1 kilometre in length. Trident was one of Australia's first lithium and tin mining provinces, highlighting both the fertility and large scale of Stelar's lithium-rich pegmatite system. Stelar's Baratta Copper Project, located in South Australia, is hosted within the Adelaidean rocks of the Flinders Ranges. The Project is considered highly prospective for sedimenthosted copper mineralisation, akin to the Central African Copper Belt. The historic Baratta Copper Mine produced copper ore between 1896 and 1904 from a 1.5 km-long zone of stratabound workings in a structure splaying off the Bibliando Thrust. Stelar is conducting exploration activities in a 7-kilometre corridor of copper mineralisation and geophysical targets that have been overlooked by previous explorers

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