TITANIUM SANDS LIMITED — Board/Management Information 2006

Nov 2, 2006

ABN 65 009 131 533

3 November 2006

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

Dear Sir / Madam

Appointment of Ricardo Leiman as Non-Executive Director

The board of Precious Metals Australia Limited ("Company") are pleased to announce the appointment of Mr Ricardo Leiman as a Non-Executive Director of the Company.

Mr Leiman is currently the Chief Operating Officer and Executive Vice President of Noble Group Limited.

Ricardo holds MBAs from the University of Rochester NY, USA and the University of Nyenrode, the Netherlands as well as an Economics degree from the University of Sao Paulo, Brazil.

He started his career with Credit Lyonnais Bank in Brazil followed by management positions with Louis Dreyfus in Brazil, Eximcoop in the Netherlands and Trader Classified Media in London and Paris. In 2002 he rejoined Louis Dreyfus as COO North America, EMEA (Europe, Middle East, Africa) and Asia, later becoming COO Soft Commodities.

On behalf of my fellow directors I would like to welcome Ricardo to the board and look forward to having the benefit of his experience in commodities, logistics and international business in the coming months as the Company accelerates toward the re-development of the Windimurra vanadium mine.

Mr Leiman has also been appointed as a Director of Windimurra Vanadium Pty Ltd, which holds the Windimurra vanadium assets and which is owned 90% by the Company and 10% by Noble Resources Limited.

Yours sincerely PRECIOUS METALS AUSTRALIA LIMITED

RODERICK SMITH Managing Director

Mr Ricardo Leiman

Level 4, 76 Kings Park Road West Perth Western Australia 6005 PO Box 620 West Perth Western Australia 6872 Telephone: +61 8 9423 1900 Facsimile: +61 8 9423 1999