TITANIUM SANDS LIMITED — Director's Dealing 2006

Apr 2, 2006

ABN 65 009 131 533

3 April 2006

The Companies Announcement Office Australian Stock Exchange Limited Exchange Plaza Sherwood Court Perth WA

Dear Sir

Change In Directors Interests

Please find attached an updated Appendix 3Y and Form 604 Substantial Shareholder Notice in respect to the change in the interest held by Roderick Smith in Precious Metals Australia Limited.

Yours sincerely PRECIOUS METALS AUSTRALIA LIMITED

$\leq$

MIKE DREW Company Secretary

Level 4, 76 Kings Park Road West Perth Western Australia 6005

PO Box 620 West Perth Western Australia 6872

Telephone: +61 8 9423 1900 Facsimile: +61 8 9423 1999

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Precious Metals Australia Limited
ACN/ARSN	009 131 533
1. Details of substantial holder(1) Name	Roderick James Hollas Smith
ACN/ARSN (if applicable).
There was a change in the interests of the substantial holder on The previous notice was given to the company on	31/103/2006 20/12/2005
The previous notice was dated	20/12/2005

2. Previous and present voting power

Thetotal numberof votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ordinary	13,761,308	18.42%	11,791,308	15.78%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change(6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
30/03/06	RJH SMITH	On market sale	\$2.50 each	970,000	970.000
31/03/06	RIH SMITH	On market sale	\$2.50 each	.000.000	.000.000

4. Present relevant interests

Particulars of each refevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
interest	securities	as holder (8)	interest(6)	Securities
Pacific Ouest	Pacific Quest	Pacific Ouest	Director	Ordinary	8,622,876
Investments Pty Ltd	Investments Pty Ltd	Investments Pty Ltd	Shareholder	8.622.876
Pacific Ouest Investment Trust	Pacific Quest Investments Pty Ltd	Pacific Quest Investment Trust	Beneficiary Director of trustee	Ordinary 856.838	856,838
Whitemire Holdings	Whitemire	Whitemire Holdings	Director	Ordinary	2,311,594
Pty Ltd	Holdings Pty Ltd	Pty Ltd	Shareholder	2.311,594

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACNIARSN (if annlicable)	Natura of association

1. Addresses

The addresses of persons named in this form are as follows:

E

Name	Address
Alĺ parties	8 Helpman Close, Mosman Park, WA, 6012

Signature

print name	capacity
Roderick J H Smith sign here N	date
		31 March 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
IABN	009 131533

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	Rođerick James Hollas SMITH
Date of last notice	20 December 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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Pacific Quest Investments Pty Ltd and Whitemire Holdings Pty Ltd companies controlled by Mr RJH Smith. Pacific Quest Investment Trust, a trust of which Mr Smith is a beneficiary, and Pacific Quest Investments Pty Ltd is the trustee.
Date of change	30 March 2006 and 31 March 2006
No. of securities held prior to change	13,761,308
Class	Ordinary
Number acquired
Number disposed	970,000 30 March 2006 1,000,000 31 March 2006
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$2.50 each

⁺ See chapter 19 for defined terms.

No. of securities held after change	Total of 11,791,308 Pacific Quest Investments Pty Ltd-8,622,876 Pacific Quest Investment Trust -856,838 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	Sale 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.