TITANIUM SANDS LIMITED — Board/Management Information 2007

Nov 6, 2007

PMA

PRECIOUS METALS AUSTRALIA LIMITED

MEDIA RELEASE

7 November 2007

WINDIMURRA APPOINTS KEY EXECUTIVE

Precious Metals Australia (ASX:PMA) is pleased to announce it has appointed experienced mining executive, Martin Reed, to the position of Chief Operating Officer for the company. PMA is developing the world-class Windimurra vanadium project, 600km north east of Perth.

Martin, a qualified mining engineer, will have responsibility for managing the construction of the Windimurra mine and bringing the project to production on time and on budget.

PMA Managing Director Dr Iain Scott said this was a key appointment in the establishment of the Company as a vanadium producer.

“Martin brings considerable experience to the Company having worked in numerous senior management roles in the mining industry for over 30 years.” Dr Scott said.

“Martin was most recently employed as Chief Operating Officer for St Barbara Ltd. Before that he was responsible for establishing the Jundee and Bronzewing mines for Great Central Mines Ltd, experience which is particularly relevant to his role at Windimurra” he said .

“In recent months the Company has taken some major strides toward our production goals, with the appointment of Merrill Lynch to secure a $200 million debt funding package, the signing of a 10 year, $300 million contract with Mineral Resources to build, own, operate and transfer the beneficiation plant, the receipt of the project’s principal environmental approvals and the securing of gas supply. Martin’s appointment marks another step towards production.” Dr Scott said.

PMA is expected to commence production at the Windimurra mine in the second half of 2008. The mine is expected to produce 6,400 tonnes per annum of ferrovanadium, which will represent approximately 7% of the world demand.

For further enquiries call:

Dr Iain Scott Managing Director Tel: +61 (0) 8 9423 1900 0407 473 025

PMA PRECIOUS METALS AUSTRALIA LIMITED

Background

Precious Metals Australia (PMA) is a mining company based in Perth, Western Australia and is listed on the Australian Stock Exchange (ASX:PMA). PMA’s focus is the development of the Windimurra Vanadium Mine, located 600km north east of Perth in WA’s Mid-West region.

PMA has a strategic alliance and off-take agreement with leading global supply chain manager, Noble Group Limited, based in Hong Kong. Noble has agreed to purchase the total vanadium output of the Windimurra mine, at prevailing market prices for the life of the mine.

Originally discovered by PMA in 1985, Windimurra contains one of the largest reported proven vanadium Ore Reserves in the world with current mineable reserves of 79.0 million tonnes at a bulk grade of 0.47% V205 (vanadium pentoxide), which will underpin an initial mine life of 20 years at the proposed mining rate of 3.9mtpa. A total of 148 million tonnes of resources have been modelled at a bulk grade of 0.46%.

Since 2003, world demand for vanadium and the price of the commodity have increased strongly, largely driven by growth in Chinese steel production. Marketing studies commissioned by PMA forecast that vanadium demand will continue to increase through 2015 at a compound annual growth rate of 7.8%.

For more information, please visit www.pmal.com.au