TITANIUM SANDS LIMITED — Major Shareholding Notification 2005

May 19, 2005

NONESCONDITIONS CONTINUES

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	PRECIOUS METALS AUSTRALIA LIMEAL
ACN/ARSN
1. Details of substantial holder (1) Name	SOMBRETTA GRAND LIMITED
ACN/ARSN (if applicable)
The holder became a substantial holder on	2005

2. Details of voting power

The total number of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4) where the mode of the dealership is the state of the theorem	Number of securities	Person's votes (6) .	Voting power (6)
a maandha موسوقة . .			.
		________

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
ヘーゲト $ S_{\text{new}} $ and $S_{\text{new}}$ (mathematic)	" Venctional in スハバク い
والمتقصات والمتاسيسين مسترجلاته والمتاسلة والمتاسك والمتاسي والمتاسر والمتابعات والموارد والمتابعة التابع والمراد

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Redistered holder of	Person entitled to be	Class and number of securities.
interest	securities	redistered as holder (8)
Sambretta Group CI4/Santo ratta Group CI4/Santo retta Group Ltd			FI O

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Oate of acquisition	Consideration (9) Au stral	Dullowe	Class and number of securities
		Cash	:Non-cash
Bernbertta Compose to Luk rink Catal		[15,263-97]		ومرتوسة
າ ນມາເພດຂອງເພດເລຍເລຍເລຍ	$ \mathbf{u} _2$ is the set $ \mathbf{u} _2$ of $ \mathbf{u} _2$ and $ \mathbf{u} _2$			ተረማ	ロのと

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable) and the state of the second state and state of the state of the state of the state of the state of the state of the	_________ . Nature of association $-$ - $ -$
	-------------------------------------- 100907-1- . .

7. Addresses

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

Name	Address
Lén, .tra ATTN Devenia ്തുകരുണ്ട് പെ	PARTIES LL. ست رومانی ا Brown But I flank
	La Septente 1. Pr Grip Correll and Section

998000380039000990000000000000000000000 Signature
print hame	Arkans La Arabel ren ea _________	capacity	Messa
sign here	アレジー・フィー・エ	date م⇔≵	లను " % %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the
  manager and trustee of an equity trust), the names could be included in an ann (1) 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 harnes and addresses of members is clearly set out in paragraph 7 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $\langle 5 \rangle$ The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Include datails of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of $\langle \circ \rangle$ 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.

• $\langle \mathbf{\mathbb{S}} \rangle$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "นกหลางพล"
• $(3)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was 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 banefit 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.