TITANIUM SANDS LIMITED — Director's Dealing 2004

Nov 8, 2004

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

PRECIOUS METALS AUSTRALIA LIMITED

ACN: 091 542 451

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director
	Michael John Frv
Date of last notice	22 April 2004

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	INXS Pty Ltd, a company controlled by MJ Fry, acquired shares on market.
Date of change	5 November 2004
No. of securities held prior to change	100,000
Class	Ordinary
Number acquired	5/11/04: MJ Fry - 200,000 Ordinary shares 5/11/04: INXS Pty Ltd - 1,270,000 Ordinary shares
Number disposed
Valne/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$118,247
No. of securities held after change	MJ Fry - 300,000 INXS Pty Ltd - 1,270,000

$+$ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back-	On market trade

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.