On November 10, 2009, notification was mutually agreed to by Zyrox Mining Company Ltd. ('Zyrox') and the Stellar Resources Ltd. to terminate the letter of Intent signed June 15, 2009 which allowed the Company to explore and further develop Zyrox's currently held Texada Island Project due to the Company's inability to raise sufficient working capital in the allotted timeframe. The terms were that Zyrox agreed to provide its 250 ton per day processing plant, historical exploration data, bulk test permit, reclamation bond, and intellectual property pertaining to Texada Island, together with exclusive rights to allow the Company to acquire a 70% working interest in the Project on or before June 15, 2010 upon receiving a third party evaluation of the assets of Zyrox as they pertain to the Texada Project. No party or any other person or entity shall be entitled to receive any fees or compensation from the Company, Zyrox or any other person arising out of or from any termination of this Letter of Intent.

On 10/29/2009, Stellar Resources Ltd announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Stellar Resources Ltd. announced it has signed a Letter of Intent with Zyrox Mining Company Ltd, for an Earn-In Agreement to explore and utilize the gold, copper and silver resources within Zyrox's mineral tenures located on Texada Island, British Columbia. Under the terms of the letter of intent, and upon completion of the Earn-In Agreement, Stellar will have the right to earn a 70% working interest in 104 mining claims, totaling 3846.345 hectares, hosting precious and base metals on Texada Island. Stellar is to provide $1 million in working capital in order to commission the production facility and commence bulk testing of all priority targets on the island. There are several high priority targets of gold, copper, silver, iron and limestone as well as a gold copper skarn discovery located within these mineral tenements. The near surface gold copper skarn discovery averages 13.66 grams p/t gold and 1.45% copper, and has a historical inferred resource of 102,329 tons and the ore body is open in all directions.