TITANIUM SANDS LIMITED — Director's Dealing 2007

Feb 6, 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	Michael John Fry
Date of last notice	9 October 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 interest.	Mr MJ Fry has an interest in INXS Pty Ltd
Date of change	5 & 6 February 2007
No. of securities held prior to change	2,200,000 fully paid ordinary shares held 500,000 directly and 1,700,000 indirectly
Class	Ordinary
Number acquired	Nil
Number disposed	1,000,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1,937,475

⁺ See chapter 19 for defined terms.

No. of securities held after change	Total of 1,200,000 fully paid ordinary shares held as follows
	INXS Pty Ltd $-1,000,000$ Michael John Fry - 200,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Disposal of shares 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	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.