TITANIUM SANDS LIMITED — Director's Dealing 2006

Sep 11, 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	Roderick James Hollas SMITH
Date of last notice	3 April 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	Direct and Indirect
Nature of indirect interest	Pacific Quest Investments Pty Ltd and
(including registered holder)	Whitemire Holdings Pty Ltd companies
Note: Provide details of the circumstances giving rise to the relevant interest.	controlled by Mr RJH Smith.
	Pacific Quest Investment Trust of which Mr
	Smith is a beneficiary and Pacific Quest
	Investments Pty Ltd is trustee.
Date of change	7 September 2006
No. of securities held prior to change	11,791,308
Class
	ordinary
Number acquired	45,000
Number disposed
Value/Consideration	\$74,036.42
Note: If consideration is non-cash, provide details and estimated
valuation

⁺ See chapter 19 for defined terms.

No. of securities held after change	Total 11,836,308 Pacific Quest Investments Ptv Ltd 8,622,876 Pacific Quest Investment Trust – 921,838 Whitemire Holdings Pty Ltd $-2,311,594$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Purchase on market.

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
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.