TITANIUM SANDS LIMITED — Major Shareholding Notification 2005

Nov 7, 2005

AFS Licensee No. 238333

FACSIMILE TRANSMISSION

TO:	ASX - Companies	From:	Keith Coughlan - Director
Coy:		Fax No.	+618 9325 7355
Fax No.:	1900 999 279	Mobile No.	041 999 6333
$\text{Date}$ :	8 Nov. 05	E-mail	kcoughlan@montagu.com.au

Number of pages sent including cover sheet 3_

Please see following Form 605 for release to the Market.

MONTAGU STOCKBROKERS PTY LTD ABN 46 009 368 432 LEVEL 2, 37 ST GEORGES TERRACE PERTH WESTERN AUSTRALIA 6000

PO BOX Z5005 PERTH ST GEORGES TERRACE WESTERN AUSTRALIA 6831

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605 Page 1 of 2 15 July 2001

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme ACN/ARSN	PRECTOUS METALS AUSTRALIA LIMITED
1. Details of substantial holder (1)
Name	SOMBRETTA GROUP LIMITED
ACN/ARSN (if applicable)
The holder ceased to be a substantial holder on	03/11/2005
The previous notice was given to the company on	16/05/2005

The previous notice was dated 29/04/2005

1. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting
securities of the company or scheme, since the substantial holder was last required scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
03/11/2005	Sombretta Group Limited	Sale causing Sombratta to no longer be a substantial shareholder	AUD 2,691,890	FPO 2.000.000	3 1% interest sold - remaining interest now $3.88*$

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

---- i Name and ACN/ARSN (If applicable)	Nature of association .
	-------- . .

4. Addresses

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

Name	Address
Sombratta Group Limited	Suite A5, Hirzel Court, St. Peter Port, Guernsey, GY1 4PG

Signature

print name

$\sim$

Peter Alan Lainé

Director capacity

605 Page 2 of 2 15 July 2001

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DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(2)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• Include details of: $(4)$
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection B71B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was $(5)$ acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• The voting shares of a company constitute one class unless divided into separate classes. $(6)$
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the fast substantial holding notice.

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