TITANIUM SANDS LIMITED — Capital/Financing Update 2020

Mar 9, 2020

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ASX RELEASE

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10 MARCH 2020

TITANIUM SANDS LIMITED ACN 009 131 533

Level 11, London House 216 St. Georges Terrace Perth Western Australia 6000 Tel: +61 (08) 9481 0389 Facsimile: +61 (08) 94636103 website http://titaniumsands.com.au

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COMPLETION OF ACQUISITION

Titanium Sands Ltd (‘’The Company’’) is pleased to announce completion of the acquisition of Bright Angel Limited that through its wholly owned subsidiaries hold a substantive 38km[2] tenure package (“Acquisition Tenure”) that complements the Company’s existing extensive tenure at Mannar Island in north west Sri Lanka.

The Acquisition Tenure significantly increases the Mannar Island Project resource to a total of 90.03Mt at 6.60% Total Heavy Mineral, of which 66% is in the higher definition indicated resource category[1] .

Having received shareholder approval at the Company’s general meeting on 21 February 2020, the acquisition was completed following the issue today of 417,500,000 ordinary shares and 208,750,000 unquoted options exercisable at $0.05, expiring 10 March 2023, following the satisfaction (or waiver) of all conditions precedent to the Acquisition.

The Company looks forward to updating shareholders over the coming months with another mineral resource update and completion of the scoping study.

Ends-

Contact:

Dr James Searle Managing Director james.searle@titaniumsands.com.au

Authorised for release to ASX by the Board of Directors of Titanium Sands Limited.

For further information contact:

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Directors

Lee Christensen Dr James Searle Jason Ferris

James Searle Managing Director T: +61 8 9481 0389 E: james.searle@titaniumsands.com.au

Ticket ASX: TSL

Previously Reported Information Footnotes

This report includes information that relates to Exploration Results and Mineral Resources prepared and first disclosed under JORC Code 2012. The information was extracted from the Company’s previous ASX announcements as follows:

1ASX announcement 28/01/20 TSL achieves Indicated Resource Upgrade.

This announcement is available to view on the Company’s website www.titaniumsands.com.au

The Company confirms that it is not aware of any new information or data that materially affect the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply with respect to the resource block model and total heavy mineral content and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the relevant original market announcements.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the Company’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should,", “further” and similar expressions are forward-looking statements. Although the Company believes that its expectations reflected in these forward- looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in additional Mineral Resources.