DGR GLOBAL LIMITED — AGM Information 2003

Nov 27, 2003

Chairman's address to Shareholders

Annual General Meeting

28 November 2003

Ladies and Gentlemen,

I would like to welcome you to the first Annual General Meeting for D'Aguilar Gold Limited. It is a pleasure to be able to address you of the formative and current circumstances of your company and to consider the opportunities and challenges to be managed over the current year.

The Company listed on the ASX on 25^th August 2003 with a capital raising of \$4 million. I would like to acknowledge the participation of Gympie Gold Limited, who as a major cornerstone investor, was immensely important to the success of the float. It is also a vote of confidence, that so many new shareholders come from the region around Kilkivan, Gympie and south-east Queensland, and, that many investors are also Gympie shareholders. It greatly encourages and motivates the Company's executives to grow personal wealth for investors in D'Aguilar and, at the same time, to achieve positive economic benefits for the south-east Queensland region.

The Company also announced last Friday that the prospectus for an issue of shareholder options has been lodged with ASIC and should be in shareholders hands from December the 5th. This issue was foreshadowed in the IPO prospectus. It is intended that the options would be issued on the 29^th December and should begin trading on or about the 5^th January. This issue will conclude our initial capital raising program.

Your Company has been actively preparing for, and initiating, the exploration program to be undertaken on the D'Aguilar leases in the Kilkivan area. An exploration office has been set up and equipped at the currently inoperative Shamrock Mine. A geological team has been established and is led by Ron Cunneen, who has vast experience in exploration and an intimate knowledge of the Gympie Region geology. We are very fortunate that Ron has joined the organisation as his leadership is enabling the exploration program to get off to a flying start.

D'Aguilar was first conceptualised in 1982, when the potential of the Kilkivan area to host bulk mineable gold deposits, was recognised by the Managing Director, Nick Mather. Nick, then a geology student at the University of Queensland, saw the regional

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potential of the geological system to host economic mineralisation and kept a watching brief on lease ownership ever since. This Company's formation is a testament to his patience and persistence.

Leases in the area were held by many small mining and exploration companies, who implemented discrete and disjointed exploration programs. A consequence was the haphazard nature of exploration hampered by a variety of unmet challenges including small holdings, uncommercial joint ventures, poorly conceived exploration models and mining activities on small or ill defined resources before exploration activities had been completed.

D'Aguilar Gold is meeting these challenges.

• We have accumulated a very large land position over 2,000 $km^2$ ;
• We have assembled and merged disiointed geophysical and geochemical data $\bullet$ sets over this area:
• We have developed an intrusive related regional mineralisation model;
• Over 24 exploration targets have been defined and we are prioritising the exploration sequence; and
• We have assembled a well qualified and well equipped exploration team.

Exploration has commenced, with shallow drilling initially on the Clara Fault targeted to define the potential for the gold bearing resources in close proximity to the processing plant at the Shamrock Mine. Geological interpretations from the drilling indicate that the host structure is persistent and mineralised. Preliminary indications show that gold is present in the Clara Fault system but not vet discovered at an economic grade. Assay results have been received this morning from this drilling and will be released to the market this afternoon.

The next phase of the exploration program will utilise large reverse circulation rigs capable of deeper drilling. Initial targets will be investigating the ground beneath the Tablelands, Shamrock, Manumbar and Long Tunnel mines.

D'Aquilar is very excited by the prospects before the Company. We have a large tenure area. Further, we have identified a large number of exploration targets within our tenures, each of which require detailed exploration and evaluation.

With the exploration programs currently under investigation within the D'Aguilar tenements, your Board believes there is potential to find a world class ore body. Our conceptual geological model for that orebody is similar to existing large ore bodies found in comparable geology in NSW and Queensland.

The upper portions of such orebodies have great potential for higharade epithermal gold deposits. D'Aquilar has identified three epithermal fields at Manumbar, Cinnabar and Mt Clara. Manumbar has previously yielded 50,000 ounces of gold and the potential of Mt Clara will be tested by the Company in the coming months. At Cinnabar the Company has identified an area of 25 $km^2$ , which exhibits mercury and gold anomalism, which may be indicative of gold mineralised systems at depth.

With such a large number of opportunities, each with the potential to bear economic gold, it is fundamental for the Company to undertake detailed preliminary analysis to ensure that the Company's precious financial and personnel resources are utilised wisely to maximise value creation for shareholders. This program of preliminary evaluation of each of the targets, prior to committing to exploration drilling, is underway. Your Company is implementing appropriate Governance procedures, within the limits of its resources, to meet the requirements of Australian Corporate law, ASX Listing Rules and to meet the expectations of the investment community.

Finally, I would like to say it is an honour to Chair this Company at what will be an exciting developmental stage of its life at an exciting time in the gold industry.

I look forward to being able to progressively report on the positive results of exploration programs as they come to hand.

Dr. Chris Rawlings Chairman