Titanium Sands : Resource Drilling Program Show Encouraging First Results

Resource Infill and Extension Drilling Program

ASX RELEASE

29th of April 2022

TITANIUM SANDS LIMITED ACN 009 131 533

Level 11, London House 216 St. Georges Terrace Perth Western Australia 6000

Tel: [phone]

Facsimile: [phone] emailhttp://titaniumsands.com.au

Contact:

Dr James Searle Managing Director Tel: [phone]

Directors

Lee Christensen Dr James Searle Jason Ferris

Encouraging First Results

_______________________________________________________

The Board of Titanium Sands Ltd is pleased to advise that the first batch of results from the ongoing resource infill and extension drilling program (Figure 1) at its Mannar Island Project have been received. A total of 77 drill holes have been completed. Results from the first 68 drill holes have been received and all holes have returned significant heavy mineral intercepts with intercepts of up to 11m at over 8% Total Heavy Minerals (THM) (Table 1) (Figure 2) and with individual samples returning values in excess of 20% THM.

As previously announced to the market (ASX:TSL 4/1/221), the program consists of about 300 holes 12m deep for a total meterage of around 3,600m (Figure 1). The primary objective of the drilling is to convert more of the resource in the high-grade zone from an inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal 400m to 200m.

All 77 holes drilled so far in this current program have reached the target depth of 12m. Of the 77 holes completed so far, 33 have been drilled beneath a 2km2 high grade resource zone previously only drilled by 2-3m deep auger drilling. All except two of the 33 12m RC aircore holes in this zone returned intercepts of 2-9% THM below the shallow resource (Figure 2 and Table 1).

The program is contained within the Company's high grade resource zone as outlined in the initial scoping study (ASX:TSL 16/06/20202). This high-grade zone contains a mineral resource3 of 93Mt at 5.24%THM of which 32% is in the indicated category (Table 2). It represents 35% of the total current mineral resource estimate for the project of 265Mt at 4.38%THM (Table 3).

Ticket ASX: TSL

The drilling is being managed by the Sri Lankan Geological Survey and Mines Bureau Technical Services Division ("GSMBTS") using TSL's reverse circulation/aircore drilling rig. Drilling operations have been interrupted several times by issues related to Covid-19 and more recently by political related protests that have resulted in the entire Sri Lankan Ministry resigning and being replaced over recent weeks. Completion of the remaining resource infill and extension drilling program will be completed as soon as practical.

BH ID	WGS84 N	WGS84 E	EOH m	>1mm%	<45 mic%	Fr m	To m	>2% THM
MAC475	9.0755	79.831	12	16.57	10.33	0	12	2.54
MAC476	9.0752	79.8308	12	13.38	0	0	10	3.47
MAC477	9.0741	79.8299	12	14.87	4.22	0	11	3.3
MAC478	9.0716	79.8314	12	24.23	1.88	0	11	2.57
MAC479	9.0742	79.8335	12	22.82	2.79	0	11	2.15
MAC480	9.0725	79.8325	12	10.07	6.19	0	12	3.57
MAC481	9.0734	79.8334	12	28.15	0.23	0	6	2.12
MAC482	9.0751	79.8341	12	21.9	10.27	0	1	2.08
MAC483	9.0728	79.837	12	21.38	0.42	0	11	2.74
MAC484	9.0722	79.8366	12	45.94	0.1	0	8	2.71
MAC485	9.0712	79.8364	12	41.44	4.23	0	12	2.74
MAC486	9.0679	79.8334	12	5.75	2.84	0	11	4.06
MAC487	9.0685	79.8337	12	16.36	2.28	0	10	4
MAC488	9.0691	79.8351	12	28.61	1.4	0	8	6.85
MAC489	9.0703	79.8354	12	14.89	7.05	0	12	3.13
MAC490	9.0658	79.8363	12	36.83	2.34	0	12	6.41
MAC491	9.0685	79.8322	12	14.46	2.56	0	12	2.86
MAC492	9.0706	79.8309	12	28.67	0.55	0	9	3.27
MAC493	9.0691	79.8278	12	11.74	2.27	0	1	2.8
MAC494	9.0686	79.8291	12	17.86	1.93	0	10	2.05
MAC495	9.0733	79.8293	12	14.69	2.53	0	11	3.25
MAC496	9.0722	79.8281	12	35.69	0.81	0	10	3.08
MAC497	9.0728	79.8286	12	31.23	1.44	0	6	4.47
MAC499	9.0638	79.8346	12	8.73	1.47	0	11	2.13
MAC500	9.0644	79.8351	12	39.65	0.31	0	2	2.77
MAC501	9.0652	79.8357	12	42.86	1.53	0	12	3.75
MAC502	9.0639	79.8365	12	73.41	0.38	0	7	4.32
MAC503	9.0631	79.836	12	14.2	3.88	0	11	2.18
MAC505	9.0626	79.8355	12	57.04	0.56	0	3	4.9
MAC509	9.0562	79.8413	12	59.08	0.81	0	3	5.7
MAC510	9.0564	79.8409	12	22.69	0.66	0	5	2.86
MAC511	9.0603	79.839	12	41.17	1.48	0	10	3.33
MAC512	9.0600	79.8388	12	22.38	2.39	0	12	2.53
MAC513	9.0573	79.8421	12	29.82	4.79	0	12	4.86
MAC514	9.0537	79.8451	12	18.78	3.49	0	12	6.55
MAC515	9.0626	79.8355	12	37.13	0.9	0	7	9.2
MAC516	9.0489	79.8488	12	23.13	1.81	0	8	6.85
MAC517	9.0484	79.8483	12	11.96	1.59	0	10	3.22
MAC518	9.0469	79.8468	12	8.96	0.76	0	10	2.14
MAC519	9.0476	79.8477	12	22.51	2.48	0	9	3.03
MAC520	9.0464	79.8463	12	41.02	4.49	0	12	3.58
MAC521	9.0454	79.8458	12	48.92	4.28	0	12	2.07
MAC522	9.0446	79.8453	12	32.57	2.63	0	11	2.32
MAC523	9.0453	79.8434	12	38.66	1.9	0	2	3.87
MAC524	9.0427	79.8436	12	11.54	1.35	0	1	2.24
MAC525	9.0457	79.8515	12	23.69	1.78	0	10	5.61
MAC526	9.0448	79.8507	12	15.85	2.38	0	10	3.64
MAC527	9.0441	79.8501	12	3.69	0.42	0	7	3.23
MAC528	9.0434	79.8496	12	11.03	0.62	0	7	3.76
MAC529	9.0437	79.8495	12	15.92	3.49	0	11	2.43
MAC530	9.0422	79.8485	12	26.11	1	0	1	2.21
MAC531	9.0408	79.8472	12	14.39	2.5	0	10	2.92
MAC532	9.0402	79.8466	12	33.59	1.47	0	1	2.34
MAC534	9.0393	79.8462	12	5.89	0.98	0	1	2.06
MAC535	9.0382	79.8447	12	16	1.07	0	1	2.79
MAC537	9.0428	79.8534	12	22.62	2.41	0	12	6.73
MAC538	9.0420	79.8529	12	29.27	4.14	0	11	4.07
MAC539	9.0400	79.8558	12	21	4.99	0	12	7.07
MAC540	9.0393	79.8552	12	22.44	2.2	0	9	5.48
MAC541	9.0415	79.8548	12	17.91	2.53	0	10	6.03
MAC542	9.0495	79.8542	12	15.44	1.64	0	11	8.03
MAC543	9.0371	79.8513	12	13.67	4.59	0	11	4.82
MAC544	9.0392	79.8532	12	4.07	3.21	0	9	4.47
MAC545	9.0386	79.8525	12	33.22	1.08	0	9	3.82
MAC546	9.0379	79.8519	12	7.56	4.37	0	9	2.15
MAC547	9.0371	79.8518	12	39.7	4.37	0	11	2.81
MAC549	9.0387	79.8569	12	39.4	3.51	0	10	5.71
MAC550	9.0379	79.8563	12	31.27	2.72	0	10	5.07

Table 1 Intercepts in excess of 2% Total Heavy Minerals from the first 68 holes analysed.

Figure 1 RC-aircore drilling prior to the end of 2019 and the current program.

Figure 2 Results from the current RC-aircore program received to date (see Table 1).

Table 2 Mineral resource estimate for a higher grade zone contained within the resources tabulated below for a 2% (THM) lower cut off. Previously reported to the ASX in full compliance with the JORC 2012 requirements see below 3.

Table 3 Mineral Resource Estimate based on a lower cut off of 2% (THM). Previously reported to the ASX in full compliance with the JORC 2012 requirements see below 3.

Ends-

The Board of Directors of Titanium Sands Ltd authorised this announcement to be given to the ASX.

Further information contact:

James Searle

Managing Director T: [phone]

E:[e-mail]

Footnotes

1 Previously reported to the ASX 4th of January 2022 ''Resource Infill and Extension Drilling Program Commences'' .

2 Previously reported to the ASX 16th June 2020 "Scoping Study Confirms Potential for Major Dredging Project" .

3 Previously Reported to the ASX 24th of September 2020 "Project update and garnet added to resource update" .

Competent Persons Statements

Except where indicated, exploration results above have been reviewed and compiled by James Searle BSc (hons), PhD, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy, with over 37 years of experience in metallic and energy minerals exploration and development, and as such has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr Searle is the Managing Director of Titanium Sands Limited and consents to the inclusion of this technical information in the format and context in which it appears.

Compliance Statement

This report includes information (Table 2 and 3) that relates to Exploration Results and Mineral Resources prepared and first disclosed under JORC Code 2012. The information was extracted from the Company's previous ASX announcement as follows:

Released to the ASX 24/9/2020 "'Project update and garnet added to resource estimate".

This announcements is available to view on the Company's websitewww.titaniumsands.com.au

The Company confirms that it is not aware of any new information or data that materially affect the information included in the relevant market announcement and, in the case of estimates of the Company's Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply with respect to the resource block model and total heavy mineral content and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the relevant original market announcements.

This report includes new exploration results and Appendix 1 contains information in compliance with JORC 2012 requirement for reporting of exploration results.

Forward Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the Company's planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may", "potential," "should", "further" and similar expressions are forward-looking statements. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in additional Mineral Resources.