DGR GLOBAL LIMITED — Capital/Financing Update 2006

Jul 23, 2006

ASX ANNOUNCEMENT

24 July 2006

Anduramba Molybdenum project scoping study

Mt Isa Inlier projects

Share Purchase Plan Closing Date Extended

Highlights:

• Updated independent scoping study on the Anduramba Molybdenum
• Anduramba Molvbdenum project scoping study showing a cumulative net operating cashflow surplus of \$184 million (key assumptions set out below)
• Exploration program planned in the Cloncurry Mt Isa block in north Queensland considered prospective for the development of iron oxide copper gold styles of mineralisation and coincident copper, molybdenum, uranium and gold mineralisation
• Share Purchase Plan Closing Date has been extended to Friday 4 August 2006

As advised on 21 July 2006, the Board of D'Aguilar has extended the closing date for the current Share Purchase Plan ("Plan") at 5.0 cents per share for a period of two weeks until 5.00 pm Friday 4 August 2006. The Plan is underwritten to the sum of \$800,000.

This decision has been taken in light of following update on the Company's current activities:

Anduramba Molybdenum Project

The Company has received the results of an updated independent scoping study on the Anduramba Molybdenum project which shows a cumulative net operating cashflow surplus of \$184 million over an eight year project based on an Inferred Resource of 14.4 million tonnes of ore with a molvbdenum sulphide grade of 0.07% Mo, and 0.03% Cu at a strip ratio of 1.6:1 waste to ore

The following assumptions were used in the study:

• a. Mo Price USD 25/lb
• b. AUD/US exchange rate 0.75
• c. Copper US\$3.20/lb 80%
• d. Mo recovery e. Cu recovery
• 70%
• 2 million tpa f. Ore mining rate
• g. Capital costs A\$45 million
• h. Extracting only molybdenum sulphide assumes no sale of molybdenum oxide co-product

ASX Code: DGR

Phone + 61 7 3303 0680 Fax +61 7 3903 0683 Franti . . . . . . . . . . . . . . . . . . . www.daguilar.com.au Website

.
Head Office Level S. annan ar
50 Edward Straut Brisbane QLD 4000

Postal Address GPD Box 6261. Brisbane QLD 4001 Cov

The project demonstrates upside for additional ore on the southwest and northern end of the Anduramba ore body where the lower limit has not been defined. The Company intends to investigate the potential for the recovery of up to a further 5.5 million pounds of molybdenum in the oxide portion of the orebody, which is not included in the current ore calculation. In addition, as previously reported, D'Aquilar is currently exploring four other targets in the Anduramba region which may yield further molybdenum ore.

The potential for further project optimisation is being investigated.

The Company intends to conduct a drilling program in the next quarter to recover metallurgical samples to assess the recoverability of the oxide molybdenum component, currently considered as waste in the study.

Cloncurry Mt Isa block - exploration planned

D'Aguilar has planned a program of exploration in the Cloncurry-Mt Isa block in north Queensland. The Company has applied for six exploration permits for mineralisation in the region. The areas are considered prospective for the development of iron oxide copper gold styles of mineralisation and coincident copper, molybdenum, uranium and gold mineralisation.

The geological analyses for this strategy has been compiled by D'Aquilar Gold's exploration team, with specialist consulting advice from Switzer Geological Services, which will provide ongoing exploration advice for the Mt Isa-Cloncurry projects.

Share Purchase Plan

All Directors are subscribing to the Share Purchase Plan.

The revised key dates for the Share Purchase Plan are as follows:

Record Date of the Plan	Thursdav	29 June 2006
Opening Date of the Plan	Monday	3 July 2006
(Revised) Closing Date of the Plan	Friday	4 August 2006
Shortfall Applications and funds received from the Underwriters of the Plan	Monday	14 August 2006
Issue and Allotment of new shares under the Plan	Friday	18 August 2006

On behalf of the Board D P Cornish Company Secretary

For further information, contact:

Mr Nicholas Mather, Managing Director or Mr Duncan Cornish, Company Secretary Telephone +61 7 3303 0680 or at info@daquilar.com.au

Electronic copies and more information are available on the Company website: www.daquilar.com.au