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DGR GLOBAL LIMITED Capital/Financing Update 2015

Sep 29, 2015

64771_rns_2015-09-29_db780edd-2cb9-44e7-95f0-7971c78636fd.pdf

Capital/Financing Update

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ASX Announcement

30 September 2015

Provision of Financial Support

The Board of Directors Navaho Gold Limited (ASX:NVG) advise of the receipt of a written offer of financial support from 19.9% shareholder DGR Global Ltd on commercial terms. The offer of financial support essentially replicates a similar arrangement struck between the parties on a number of previous occasions.

In accordance with the written offer, DGR Global has agreed to provide funds to Navaho to a maximum amount of $1,000,000 to enable Navaho to continue to meet all of its project and corporate expenses. The funding will be provided for a period being the earlier of 12 months or completion by Navaho of a capital raising.

The funding arrangement will be unsecured but attract interest at the rate charged by the bankers for Navaho on any overdraft accommodation for an amount of $100,000 or more, and shall be capitalised and only repayable when the facility is repaid.

The independent Directors of DGR Global and Navaho respectively agreed the terms of the funding arrangement, with Messrs Mather and Moller abstaining.

Navaho continues to progress its Argentinean coal and Australian gas projects, and the Board of Directors will provide the market with an update shortly.

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