TITANIUM SANDS LIMITED — Director's Dealing 2007

Feb 14, 2007

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	Earl of Warwick
Date of last notice	29 September 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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant	Tagorga Pty Ltd Ltd a company controlled by the Earl of Warwick, and Hillbow Investments Ltd a company associated with
interest.	the Earl of Warwick
Date of change	13 February 2007
No. of securities held prior to change	6,067,331
Class	ordinary
Number acquired	11,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$20,970.37

⁺ See chapter 19 for defined terms.

No. of securities held after change	Total 6,078,331 Tagora Pty Ltd $-1,078,331$ Hillbrow Investments $Ltd - 5,000,000$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	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.