TITANIUM SANDS LIMITED — Director's Dealing 2005

Sep 13, 2005

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: 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	Earl of Warwick
Date of last notice	in,∜‼i September 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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Tagora Pty Ltd, a company controlled by the Earl of Warwick. Acquired shares on market Hillbrow Investments Ltd. a company associated with the Earl of Warwick. Acquired shares off market
Date of change	13 th September 2005
No. of securities held prior to change	Tagora $-1,295,331$ Ordinary Shares $HilBrow - 5,000,000$ Ordinary Shares
Class	$Shares - ordinary$
Number acquired	10,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	86 cents per share

$+$ See chapter 19 for defined terms.

No. of securities held after change	Tagora $-1,305,331$ Ordinary Shares Hillbrow $- 5,000,000$ Ordinary Shares
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	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.