TITANIUM SANDS LIMITED — Director's Dealing 2006

Oct 8, 2006

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.

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	Michael Lawrence Kiernan
Date of last notice	7 August 2006

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	Mr ML Kiernan has an interest in Crawley
(including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Investments Pty Ltd
Date of change	9 October 2006
No. of securities held prior to change	$(1)$ Ordinary shares -250,000 $(2)$ Options - Nil
Class	(1) Ordinary Shares (2) Options expiring 26 September 2011
Number acquired	250,000 options exercisable at \$2.20
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

⁺ See chapter 19 for defined terms.

No. of securities held after change	Crawley Investments Pty Ltd: $(1)$ Ordinary Shares - 250,000 (2) Options $-250,000$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Options are issued pursuant to letter of appointment of Mr Kiernan as a director dated August 2006. The issue of which were approved by shareholders in general meeting 27 September 2006.

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.