TITANIUM SANDS LIMITED — Director's Dealing 2005

Nov 6, 2005

Rule 3.19A.2

Appendix 3Y

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
ACN: 009 131 533

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	Ian Keith Macpherson
Date of last notice	24 January 2005

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	FATS Pty Ltd is an
(including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	entity controlled by Ian K Macpherson.
Date of change	4 November 2005
No. of securities held prior to change	282,812 ordinary shares fully paid 500,000 options exercisable on or before 30/11/2007
Class	Shares – ordinary Options – exercisable on or before 30/11/2007
Number acquired	367,188 ordinary shares
Number disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Net proceeds A\$103,000
No. of securities held after change	(i) 650,000: ordinary shares fully paid $(ii)$ Nil: options $30/11/07$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	(i) on-market sale of $132,812$ shares (ii) exercise of 500,000 unlisted options

$+$ See chapter 19 for defined terms.

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	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
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	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an- estimated valuation.	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.