DGR GLOBAL LIMITED — Capital/Financing Update 2019

May 20, 2019

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DGR Global Limited

21 May 2019

Business Update

The Board of Directors of international resource company creator, DGR Global Limited ( the Company; ASX: DGR ), is pleased to provide an update with regard to various recent developments within the Company’s range of sponsored listed entities.

Interested shareholders are encouraged to read the full releases of each particular company mentioned below, as compliance with the ASX Listing Rules restricts what can be detailed by DGR Global in this announcement. Shareholders are also reminded that updates, photos and articles of relevance for each company are available via Twitter, and by registering to receive news directly via our electronic mail‐out service, available for each company on their respective websites (refer below).

SolGold plc | LSE / TSX: SOLG (11% owned by DGR)

Cascabel Project

Overnight in London, SolGold announced the results of its Preliminary Economic Assessment (PEA) for the Alpala copper‐gold‐silver deposit within the Cascabel Project in Northern Ecuador, held by Exploraciones Novomining SA (ENSA). SolGold holds an 85% registered and beneficial interest in ENSA, with the remaining 15% ultimately owned by TSX‐V listed Cornerstone Capital Resources Inc.

DGR Global is restricted in the information that it can disclose in relation to SolGold’s PEA, and shareholders are therefore encouraged to review the SolGold release in its entirety. The PEA was prepared by independent consultants including Wood, SRK Consulting and SRK Exploration, Mining Plus, Knight Piesold and Ernst & Young. The PEA was prepared on the basis of the November 2018 published resource estimate of the Alpala Deposit.

The full details of SolGold’s market release are available via the following link, or the SolGold website: = = = http://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID 3676&customerKey Solgold&storyID 14318466

Commenting on the findings of the PEA, SolGold and DGR Global CEO Mr Nick Mather said: “The SolGold Board is excited by the opportunity demonstrated for the Alpala Project, which continues to grow. The unusually low operating costs modelled in the PEA are due to the relatively soft, fractured nature of the ore, resulting in enhanced caveability, a high degree of fragmentation in the cave, and ease of crushing and millability, combined with low hydroelectric (consumption and unit) costs. The overall scale efficiencies also assist in the delivery of modelled low operating costs.

The PEA has indicated a range of outstanding financial metrics for a project of this nature, and represents an outstanding value proposition for SolGold shareholders. SolGold looks forward to delivery of the same blueprint across its 12 other wholly owned priority targets throughout Ecuador.”

Activities planned for the balance of 2019 at Cascabel include continued exploration at Alpala, a further revision to the Alpala Deposit resource estimate, metallurgy and process design studies, tailings disposal options and the incorporation of further geotechnical and hydrogeological data into the study program.

DGR Global Limited ACN 052 354 837 street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e info@dgrglobal.com.au w www.dgrglobal.com.au

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In addition, permitting and fiscal discussions with the Ecuadorean Government, and financial discussions with third‐party financiers for SolGold’s share of the project costs, are set to commence.

SolGold is aiming to have a Pre‐feasibility Study completed by December 2019, and a Definitive Feasibility Study scheduled for completion by the end of 2020.

The Alpala Deposit is favourably located at low altitude (600‐1,800masl), with easy access via a sealed highway from the regional capital (Ibarra) some 90km by road to the south, and in proximity to water and high voltage, predominantly hydroelectric sourced, power supply. The deep‐water port at Esmeraldas is located some 180km to the west of the Alpala Project site.

Unlike some other Tier 1 porphyry copper‐gold deposits, which are located in the high Andes in remote locations and at very high altitude, the low elevation and mild climate year‐round in the Alpala area allows exploration activities and mining operations to be conducted throughout the year.

Benefiting from these natural advantages is expected to allow significantly reduced infrastructure requirements at Alpala in comparison to many of its peers.

Regional Projects

In addition to its interest in the flagship Cascabel Project in Northern Ecuador, SolGold has a 100% interest in 72 additional concessions within Ecuador, held through a series of wholly‐owned subsidiary companies. The SolGold geological team have been steadily working on a regional exploration program across these concessions and have identified twelve (12) main priority targets to date.

In the last fortnight, SolGold has announced the following updates in relation to its regional exploration program:

• 7 May 2019 – Large copper‐gold porphyry target identified at Porvenir ;

• 8 May 2019 – Large copper‐gold systems discovered at Chical ;

• 9 May 2019 – Favourable copper‐gold sample results returned at Cisne Loja ; and

• 10 May 2019 ‐ Favourable copper‐gold sample results returned at Coangos .

SolGold continues to actively explore its regional portfolio, defining and refining drill targets ahead of the anticipated receipt of drilling permits later in the year.

Copies of all of SolGold’s market releases are available on the Company’s website: www.solgold.com.au

The current value of DGR Global’s investment in SolGold is approximately $140 million.

Aus Tin Mining Limited | ASX: ANW (17.5% owned by DGR)

Taronga Tin Project (NSW)

On 13 May 2019, Aus Tin announced that it had received final regulatory approval for its Taronga Stage 1 Tin Mining Project. The receipt of the approval for Aus Tin’s Mining Operations Plan ( MOP ) from the NSW Department of Planning & Environment represented the culmination of an approvals process that it commenced in May 2015. Aus Tin will now seek to implement its development plan for site establishment and initial mining, targeting commencement before the end of June 2019.

DGR Global Limited ACN 052 354 837

street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e info@dgrglobal.com.au w www.dgrglobal.com.au

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Brian Moller, Chairman of Aus Tin said: “Final approval for Taronga Stage 1 represents a major milestone for the Company. An enormous amount of work has historically been completed on the Taronga Project by groups such as BHP and Newmont, but Aus Tin’s exciting program including large scale trial mining and pilot processing will aim to demonstrate the Proof of Concept that will enable the development of large‐ scale tin mining operations within one the Australia’s more productive tin fields.”

Granville Tin Project (TAS)

In mid‐March, Aus Tin commenced the transition to owner‐mining following the collapse of the mining contractor Jemrok and their appointment of liquidators, concluding a challenging period that detrimentally impacted the progress of the Granville Project, specifically the construction of the new Tailings Storage Facility (TSF). Aus Tin has since procured mining fleet and employed personnel, and continues to pursue opportunities for operational and financial efficiencies at the Granville Mine, including the potential sale of waste rock to the near‐by wind farm. Jemrok were also contracted to provide crushing services, but Aus Tin has been required to source alternative arrangements, and has tested a 30‐tonne parcel of skarn ore to assist with the selection of crushing equipment and contractor arrangements.

Processing operations resumed in February, following the delayed completion of the new TSF. Throughput rate and tin recovery were both detrimentally impacted because of more metallurgically challenging hanging wall material, but concentrate production ultimately achieved the targeted grade. Throughput rate and tin recoveries are both expected to increase with the commencement of treating skarn material.

Shipment of tin concentrate under Aus Tin’s off‐take arrangements with Traxys recommenced with the first concentrates dispatched from site on 29 April 2019.

Pembroke – Mt Cobalt (QLD)

On 10 May 2019, Aus Tin announced the assay results of its recently completed diamond drill hole program at Mt Cobalt in Queensland. The results confirm the occurrence of nickel at shallow depths in a new zone from where drilling was previously conducted. Aus Tin plans to continue its exploration of Mt Cobalt in due course.

On 27 March 2019, Aus Tin announced the identification of new zones of nickel‐copper mineralization as a result of its RC drill program conducted at Pembroke in Queensland. Aus Tin plans to continue its exploration of the Pembroke and surrounding areas in due course.

Full details of this, and all other Aus Tin Mining announcements, are available on the company’s website: www.austinmining.com.au

The current value of DGR Global’s investment in AusTin is approximately $4 million.

Dark Horse Resources Limited | ASX:DHR (16.75% owned by DGR)

On 5 March 2019, Dark Horse provided an update in relation to its Cachi Gold Project in Argentina. Based on their work and desk top analysis to date, Dark Horse geologists believe the Cachi Project to represent a caldera structure, similar in setting to a number of established gold projects in the region.

Further work, including a ground magnetics survey, is underway, ahead of an initial drilling campaign planned for later in 2019.

DGR Global Limited ACN 052 354 837

street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e info@dgrglobal.com.au w www.dgrglobal.com.au

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On 1 May 2019, Dark Horse announced that it had completed its first phase of drilling at its Las Openas Gold Project in Argentina. Assays are awaited, but Dark Horse geologists were encouraged by visual observations of the core, and have commenced planning follow‐up work to be undertaken in due course.

Full details of this, and all other Dark Horse announcements, are available on the company’s website: www.darkhorseresources.com.au

The current value of DGR Global’s investment in Dark Horse Resources is approximately $1.6 million.

IronRidge Resources Limited | LSE(AIM): IRR (22% owned by DGR)

On 14 February 2019, IronRidge announced its intention to acquire an interest in the highly‐prospective 397km[2] Zaranou Gold Project in Cote d’Ivoire, Africa. The Project contains over 40km strike of highly prospective shear zone structure, multiple recorded gold occurrences, and coincident large‐scale artisanal workings throughout the application area with eight (8) high‐priority targets already identified by IronRidge geologists. On 23 April 2019, IronRidge announced that it had agreed with the vendor of the Zaranou Project for a 2 month extension to the due diligence period.

Under the commercial terms agreed by the parties, IronRidge has the option to acquire up to 100% of the Zaranou Project through staged earn in arrangements and expenditure to Feasibility Study subject to each party retaining an aggregate net smelter royalty, ("NSR") of 2.5% of which 50% may be acquired for US$4 million. IronRidge has the right to make its milestone payments in shares and/or cash.

Full details of this, and all other IronRidge announcements, are available on the Company’s website: www.ironridgeresources.com.au.

The current value of DGR Global’s investment in IronRidge is approximately $20 million.

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The Board of DGR Global will continue to update the market in relation to material developments within its portfolio of sponsored companies and subsidiaries.

On behalf of the Board Karl Schlobohm Company Secretary

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

Email: info@dgrglobal.com

Twitter: @DGRGlobal

For further information contact:

Mr Nicholas Mather Karl Schlobohm Sarah Schuiringa Managing Director Company Secretary Marketing / PR Ph: 07 3303 0680 Ph: 07 3303 0680 Ph: 07 3303 0680

DGR Global Limited ACN 052 354 837

street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e info@dgrglobal.com.au w www.dgrglobal.com.au

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About DGR Global Limited

DGR Global’s business is the creation of resource exploration development and mining companies.

The business uses the skills of a core team of talented geoscientists to identify resource projects capable of yielding world class discoveries of attractive commodities.

This is achieved through:

• The identification of commodities with a favorable 20 year price outlook.

• Geological terranes with:

• A demonstrated strong endowment for that commodity;

• An under‐explored history;

• Opportunity for the application of recently developed exploration techniques;

• Jurisdictions with improving socio‐economic and regulatory frameworks;

• Extensive available tenures.

DGR provides initial seed funding and management support to secure assets in subsidiaries and develop these assets to more advanced funding stages. The Company has a pipeline of projects in daughter companies at various stages of emergence, and in 2015 crystalised a significant return through the sale of its 15% holding in Orbis Gold for $26million. Further development of its holdings in LSE and TSX‐listed SolGold and AIM‐listed IronRidge Resources, ASX‐listed AusTin Mining, Dark Horse Resources and Armour Energy, and unlisted Auburn Resources and Armour Energy Uganda, are expected over the coming years.

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DGR Global Limited ACN 052 354 837

street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e info@dgrglobal.com.au w www.dgrglobal.com.au