TITANIUM SANDS LIMITED — AGM Information 2008

Jul 29, 2008

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30 July 2008

Company Announcements Office Australian Stock Exchange Limited Exchange Plaza Sherwood Court PERTH WA 6000

Dear Sir / Madam

EXTRAORDINARY GENERAL MEETING

Please find attached the Chairman’s address and a presentation by the Managing Director, Dr Iain Scott, both of which will be delivered to shareholders at today’s extraordinary general meeting.

The meeting is being held at 10.00 am at the Celtic Club, 48 Ord Street, West Perth.

Yours faithfully WINDIMURRA VANADIUM LIMITED

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MATTHEW LILLY Company Secretary

Windimurra Vanadium Ltd ABN 65 009 131 533 MidWest Vanadium Pty Ltd ABN 65 113 874 712 Level 4, 76 Kings Park Road, West Perth, Western Australia 6005 Tel: +61 8 9423 1900 Fax: +61 8 9423 1999

WINDIMURRA VANADIUM LIMITED ABN 65 009 131 533

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CHAIRMAN’S ADDRESS

EXTRAORDINARY GENERAL MEETING

30 JULY 2008 AT 10.00AM WST

Chairman’s Address

Before I close today’s meeting I want to provide an update on the development Windimurra Vanadium and a quick recap of what I believe has been a pivotal period of development and transition for this Company.

In the past eight months since our AGM, this Company has made great strides in the development of its vanadium project in WA’s Midwest region.

1. Last year we received Section 45C Non Substantial Change approval notice for the reconstruction and improvement of the mine, which is the principal environmental approval required for operations to commence.

2. Finance is in place, following the securing of $225 million in debt and equity funding early this year. Currently, we retain about $170 million cash at bank, and with contingencies, have the necessary funding to complete this project

3. Despite volatility in world finance and energy markets, and high cost pressures, we have advanced plant construction on time and within budget parameters.

4. We remain on schedule to complete construction of the plant and start commissioning in December of this year. At the end of last quarter, we had spent or committed to 75% of the overall project construction budget. All critical long lead items have been procured.

5. Mineral Resources Limited (MRL), the beneficiation plant Build Own Operate and Transfer (BOOT) contractor, is ahead of schedule and approximately 55% complete with the primary, secondary and tertiary crushers installed.

6. By the first quarter of 2009, we expect to recommence as one of the world’s premier suppliers of high grade ferrovanadium.

7. Windimurra currently has more than 290 people working on site with numbers expecting to peak at over 400 within the coming months.

8. I am pleased to say that we have appointed the vast majority senior roles required for operation. A proactive recruitment process for the remainder of the technical workforce and the operational employees is underway and we have a strong response.

9. Mining at Windimurra is expected to commence in September. This will be followed by progressive commissioning of the Beneficiation plant in October. Full power will be available to the site in mid November and the roasting kiln will start turning in December.

10. The economics of our project continue to be boosted by the strong global vanadium market. During the past six months, vanadium prices have traded at 20 year highs, fuelled by continuing strong world demand and tightening of global supply.

11. Windimurra is poised to enter the world vanadium market when other major producers, in South Africa in particular, have had to limit growth plans due to power shortages.

12. Marketing activities for our high grade vanadium product have commenced via the offtake agreement with Noble Group. A feature of this agreement is the minimum price guarantee, which provides further risk protection for shareholders. We have received strong market interest from a number of steel mills, and negotiations with these mills have commenced.

13. 2 -

Chairman’s Address

1. As you can see, we have made significant progress in the recommencement of Windimurra as one the world’s leading vanadium producers. Our achievements in the past twelve months have significantly de-risked this project.

2. In response, shareholders have seen an increase in share prices and market capitalisation over that period – notwithstanding the impact of the recent global capital market softening.

3. Your Board and Management now remain focused on taking Windimurra Vanadium into production, and by doing so, delivering further value to our shareholders.

On that note I officially declare the meeting closed and ask Dr Iain Scott, the Managing Director, to give a brief update on the Project.

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EGM July 2008

This presentation should not be relied upon as a representation of any matter that a potential investor or their adviser should consider in evaluating the Company. Potential investors must make their own independent assessment and investigation of the matter contained herein and should not rely on any statement or the adequacy or accuracy of the information provided. The Company and its related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of the Company, the accuracy or completeness of any information, statements or representations contained in the presentation, and they do not accept any liability whatsoever (including in negligence) for any information, representation or statement made in or omitted from this presentation.

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation with respect to the Company.

Project Update

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Windimurra Kiln
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Process Overview

Production using conventional methods and technology

Lowest cost quartile of producers

Aerial View

Development Time Line

Mining starts Beneficiation – mechanical completion Gas available Power on & magnetite concentrate production Kiln – mechanical completion FeV production

� September

� October

• Mid October

� Mid November

� Mid December

� January 09

Spent and Committed Capital

All major contracts let

Civil

Structural & Mechanical Electrical & Instrumentation

Capital cost steady

Focus on cost containment Sufficient funds in place to complete project

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100%
Spent & Committed
Spent
80%
60%
40%
20%
0%
Oct Nov Dec- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec-
07 08
Date
Value (%)
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Crushing & Screening

The Screen Building

Detail of secondary and tertiary crushing

Detail of secondary and tertiary crushing

Feed end of Rotary Kiln

Overview of Vanadium Refinery

AMV Thickener in Vanadium Refinery

Solar Electric Generators

The Camp

Recruitment

Senior Management team recruited Good response to advertising

New Contracts Mining Transport Aluminium granulation Power Supply

Mine Planning

Selective mining for waste removal/ better ore Opportunity to improve V2O5 grade and recovery in beneficiation

Reserve and Resource Base

Additional in-fill drilling over 1km (5km pit length) Ore body remains open at depth Better delineation of internal waste bands - selective mining? Resource upgrade imminent

Simple, conventional open pit mining with very little risk

A new price base forming?

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100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08
US$/kg V
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Contacts:

Dr Iain Scott Garry Korte Managing Director Finance Director

Ph: +61 8 9423 1900

Ph: +61 8 9423 1900 Ph: +61 8 9423 1910 Fax: +61 8 9423 1999 Fax: +61 8 9423 1999 E-Mail: IAScott@windimurra.com.au E-Mail: Garry.Korte@windimurra.com.au