TITANIUM SANDS LIMITED — Director's Dealing 2006

Oct 8, 2006

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.

Name of entity:	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	Shaun Ronald Bunn
Date of last notice	-

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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Direct
Date of change	9 October 2006
No. of securities held prior to change	Nil
Class	Options to acquire ordinary shares expiring 26 September 2011
Number acquired	125,000 options exercisable at \$1.50 125,000 options exercisable at \$1.70
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	Options-250,000

⁺ See chapter 19 for defined terms.

Appendix 3Y

Nature of change securities under dividend reinvestment plan, participation in buy-back	Options are issued pursuant to letter of Example: on-market trade, off-market trade, exercise of options, issue of appointment of Mr Bunn as a director dated February 2006. The issue of which were approved by shareholders in general meeting 27 September 2006.
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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	Not Applicable
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.