DGR GLOBAL LIMITED — Interim / Quarterly Report 2007

Jan 24, 2008

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R E P O R T F O R T H E D E C E M B E R 2 0 0 7 Q U A R T E R
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Central Minerals

Excellent gold discoveries with high silver values by subsidiary Central Minerals Pty Ltd on three of the first four targets within the Rannes Project Area, central QLD.

Anduramba Molybdenum

New resource estimation and pit optimisation completed for the Anduramba Molybdenum project confirms increased resource tonnage, increased total contained metals and increased cash flows. Revised optimised pit shows a net present value of cash flows, not including capital costs, in the range A$200 to A$280 million for Anduramba.

Solomon Gold plc

Impressive gold intersection of 32 metres averaging 9.45 grams per tonne by Solomon Gold plc at Sutakiki, Solomon Islands. D’Aguilar holds a relevant interest.

Ban Ban

Preliminary results from Raven’s Gully indicate a possible poly‐metallic system.

Mt Isa Metals

Appointment of Peter Spiers as Chief Executive of Mt Isa Metals Pty Ltd advances progress towards ASX listing.

Capital Raising

Successful oversubscribed Share Purchase Plan completed.

INTRODUCTION

During the quarter the Company was strongly focused on advancing exploration projects within the parent and subsidiary companies. While experiencing the frustrations shared by all other exploration companies in the delays in securing assay results from analytical laboratories and the scarcity of suitable drilling rigs, your company has been encouraged to see the speeding up of processing and grant of Exploration Permits, particularly in Queensland. The move to the new Group Exploration Office based in Gympie also continues to help our success in attracting additional exploration geologists and field staff to carry out the increased exploration program as more Exploration Permits move to grant.

The location of D’Aguilar project interests in the parent and various subsidiary companies in south‐ east Queensland is shown in the accompanying Figure 1. The location of the Mt. Isa Metals projects in central and north‐west Queensland is shown in Figure 2.

www.daguilar.com.au ASX: DGR

Phone: +61 7 3303 0680 Email: info@daguilar.com.au

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N
M OUNT ISA
M ETALS
CLERM ONT ROCKHAMPTON
PROSPECTS EMERALD
MT MORGAN
DUARINGA
GLADSTONE
RANNES GOLD
PROJECT
Central Minerals LATERITIC URANIUM & IRON ORE B UNDABERG
POPERIM A
Navaho Mining CRACOW NICKELPROJECT
Ridge Exploration MARYBOROUGH
GAYNDAH
Anduramba Molybdenum
M OUNT COBALT
Eastern Uranium NICKEL PROJECT
KINGAROY
Mt Isa Metals URANIUM GYMPIE
ROMA PROJECT
Ausnico CHINCHILLA
D'Aguilar Gold ANDURAM BA
M OLYBDENUM
PROJECT
BRISBANE
TOOWOOMBA
0 100 200
SURFERS PARADISE
kilometres
Figure 1: D’Aguilar project locations in South‐East Queensland
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Figure 2: Mt Isa Metals project locations
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CENTRAL MINERALS GOLD DISCOVERIES

One of the most exciting highlights of the quarter was the excellent new gold and silver discoveries on three of the first four targets within the Rannes Project Area for wholly owned subsidiary Central Minerals Pty Ltd.

As announced to the ASX in releases on 14[th] and 21[st] December, excellent widths and gold and silver grades were returned from first pass drilling at Rannes (refer to Location Map, Figure 1). Sixteen (16) reverse circulation drill holes (total 1,302 metres) were drilled on the first four (4) prospects defined by soil sampling. The four prospects drilled – Kauffmans, Crunchie, Homestead and Porcupine Pie are shown in red on the accompanying Figure 3.

The final complete assay results for the 16 holes drilled in late 2007 are shown in Table 1. Currently, 57 grams of silver has the same value as 1 gram of gold (see gold equivalence footnote 3). Recent geological work and the drilling results to date indicate that the deposits are in the form of shallow pitching shoots that are preferentially developed in altered and gently dipping limestone horizons, as opposed to the volcanic rocks. A shallow pitch implies that most of the recorded gold intercepts are close to true thickness (about 75% of the intersections).

Gold mineralisation at the Rannes Gold Project is considered to be “epithermal” in origin – as is the deposit at Cracow 120kms to the South. However, at Rannes, the association of the fine‐grained gold mineralisation with limestone rocks is more akin to the major Carlin‐styled gold orebodies in Nevada, USA. Many gold deposits within the Carlin province in Nevada are silver‐rich like those at Rannes.

Geological knowledge about the Rannes Gold Project in SE QLD is at a very early stage and will increase rapidly as exploration proceeds across this large gold district which lies in tenements held by the Company.

Field work on Rannes prospect areas has been accelerated over recent months, and assay results are awaited for soil and stream sediment samples over several of the other prospect areas shown in Figure 3. The current wet season conditions make exploration over these black soil areas very difficult, and further drilling on the initial prospects and the new targets may be delayed until the next quarter.

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MT ISA METALS

A reconnaissance program of sampling has commenced on the Mt Isa Metals properties in the Clermont district where several tenements have now been granted. The initial focus has been on EPM 16038 Capella West, which covers a poorly exposed area of strong magnetic anomalies adjacent to the historic Peak Downs copper mine. Assay results are awaited.

Mr. Peter Spiers has been appointed to the position of Chief Executive Officer of Mt Isa Metals, 72% owned by D’Aguilar Gold Limited, and commenced with the company on 1 January 2008. He brings a wealth of management and technical experience to Mt Isa Metals Pty Ltd as it heads towards seeking a listing in its own right early in 2008.

Mr. Spiers spent 20 years in numerous roles within Western Mining Corporation (WMC), from exploration geologist through to Group Manager ‐ Business Development, where he took a senior role in the restructuring of several of WMC’s major business interests. In addition Mr. Spiers managed the targeting and evaluation of numerous mineral investment opportunities across four continents including gold, nickel, copper, iron ore and industrial minerals.

More recently Mr. Spiers held an executive position with ASX Listed Atlas Group Holdings Limited where he focused on the development of business‐wide improvement initiatives and definition of strategies for growth.

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Figure 3: Current Prospects within the Rannes Project Area

	Dip Bearing Mag Hole Depth (m) Drillhole Easting Northing	Dip Bearing Mag Hole Depth (m) Drillhole Easting Northing	From (m)	To (m)	Length metres ("m")	Intersection	Intersection	Intersection	Intersection
						Au (g/t) Ag (g/t) Silver factor Au Eq (g/t)
	KAUFFMAN'S PROSPECT DRILLING
	KAU6 205985 7321877 350 60 84 Includes		28	66	38	1.78	25	57	2.22
			50	54	4	6.35	36	57	6.98
	KAU5	205940 7321760 170 60 32.5				no significant results
	KAU4	206022 7321759 170 60 60				no significant results
	KAU4A 206019 7321758 350 60 90 Includes		24	86	62	0.32	4	57	0.39
			42	44	2	1.52	4	57	1.59
	KAU7	205947 7321926 170 60 90	46	52	6	1.15	3.5	57	1.21
	HOMESTEAD PROSPECT DRILLING
	HOM8	205649 7322214 170 60 80				no significant results
	HOM9	205613 7322287 170 60 90				no significant results
	HOM10	205572 7322220 170 60 78				no significant results
	HOM11 205529 7322225 170 60 108 Includes		18	72	54	0.41	8	57	0.55
			20	24	4	1.1	16	57	1.38
	HOM11A	205535 7322219 350 60 67	0	12	12	0.96	13	57	1.19
	and 2nd intercept		40	50	10	1.09	13	57	1.32
	CRUNCHIE PROSPECT DRILLING
	CRU12	203295 7319447 180 60 60				no significant results
	CRU13	203345 7319439 70 60 78	12	46	34	0.15	36.4	57	0.79
	CRU14 203251 7319422 0 60 54 Includes		0	32	32	1.84	41	57	2.56
			2	18	16	3.1	51	57	3.99
	CRU15 203306 7319521 0 60 90 Includes and 2nd intercept		12	52	40	1.17	76.2	57	2.50
			32	38	6	2.76	115.6	57	4.78
			70	78	8	1.82	106.5	57	3.68
	PORCUPINE PIE PROSPECT DRILLING
	POR2	208143 7320965 350 60 138	18	36	18	0.65	8	57	0.79
	POR3	208185 7320964 350 60 102	4	12	8	6.23	5.9	57	6.33

Table 1: Rannes Gold Project ‐ Central Minerals Pty Ltd: Drilling Results to End December 2007

ANDURAMBA MOLYBDENUM

A new resource estimation and pit optimisation for the Anduramba Molybdenum project has been completed and confirms increases in resource tonnage, increased total contained metals and increased discounted cash flow. Revised optimised pit shows a net present value of discounted cash flows, not including capital costs, in the range A$200 million to A$280 million for Anduramba Molybdenum Pty Ltd.

Due to increased drilling density, the resource category has increased to 64% of the tonnes being Indicated Resources and 36% Inferred (previously 100% Inferred in July 2007).

There has been a 21% increase in total ore tonnes, a 19% decrease in Molybdenum grade, a 5% decrease in Silver, and a 14% increase in Copper. These changes amount to an overall 15% decrease in Mo Equivalent grade and 2% increase in contained Mo Equivalent metal (see Table 2). The Company feels this resource is more suited to the low cost bulk mining and milling strategy for the deposit, and is investigating a 3mtpa treatment option.

The price of Molybdenum has continued to hold strongly above US$32 per lb over recent months, and the new estimate has therefore been based on a Mo price of US$30 per lb (previously US$25). Silver recovery has however been conservatively lowered to 65% (previously 85%) pending further metallurgical testing in early 2008.

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The new assessment has used conservative strip ratios (based on an average pit slope of 45 degrees including haul roads). It has assumed conservative mill operating costs pending further metallurgical testing and process plant specification.

A program of oriented HQ diamond core drilling is currently underway at Anduramba to provide material for further detailed metallurgical testing and in situ bulk density measurements. Geotechnical logging will provide information on expected slope stabilities for detailed mine planning.

Inspection of the geological data continues to show high grade shoots emplaced on NE fracture zones. These shoots have not been closed at depth and present further exploration targets.

			Resource Metal Grades	Resource Metal Grades	Resource Metal Grades	Resource Metal Grades	Contained Tonnes Metal	Contained Tonnes Metal
	Resource Category	Tonnes Millions					Mo Equivalent
			Molybdenum (%Mo)	Silver (%Ag)	Copper (%Cu)	% Mo Equiv**	This estimate	Previous estimate Jul'07	% increase
	Inferred Resources*	11.60	0.048%	0.0004%	0.011%	0.052%	6,100	18,700
	Indicated Resources*	20.50	0.056%	0.0007%	0.019%	0.064%	13,000
	TOTAL RESOURCES	32.10	0.053%	0.0006%	0.016%	0.059%	19,100	18,700	2%

• refer Footnote 1 ** refer Footnote 2

Table 2: Anduramba Molybdenum Resources above 0.03% Mo Equiv cut‐off grade

BAN BAN PROJECT AREA

Recent investigations have confirmed the Ban Ban Project Area (EPM 14881) in south east Queensland as a significant base metals prospect. Historically the area has been assessed by several companies, including Cyprus Mines, Esso Australia and CRA Exploration. It contains an Inferred Resource of 1.5 million tonnes averaging 7.4% Zinc from surface in one continuous mineralised zone over 460 metres long and up to 17 metres wide, tested to a depth of 220 metres.

D’Aguilar has now identified new areas where EM conductor anomalies identified in the recent airborne electromagnetic (EM) survey are coincident with elevated soil and rock geochemistry results, leading to recognition of zoned lead, zinc and copper mineralised structures and an adjacent molybdenum porphyry system. Figure 4 shows the existing known zinc deposit in the southern end of the EPM, with the newly identified elevated base metal levels coincident with electromagnetic conductors aligned to the north west within the Mt. Perry Fault corridor. Gossanous zones up to 10m wide outcrop over these electromagnetic targets and in non‐ selective samples assay up to 0.22% copper, 1.5% lead, 0.8% zinc, 356ppm molybdenum, and in excess of 100ppm silver. These values are considered highly encouraging.

EASTERN URANIUM

Further soil geochemical survey and mapping undertaken early in the quarter led to a decision to drill the northern most prospect at Ravens Gully as soon as possible, and the drilling rig brought to undertake the first pass drilling on the two Gayndah prospects was able to be held for sufficient time to allow four (4) relatively short scouting reverse circulation holes to be drilled before being released to the next contractor.

Preliminary results from the Raven’s Gully drilling have just been received. Three of the four holes drilled have provided evidence of a poly‐metallic system, including the following intersections:

Hole RG3 (vertical to 48 metres)

12m from 32‐44 metres @ 18.8ppm Ag, 0.85% Cu, 1.17% Pb and 1.24% Zn

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Hole RG6 (60[o] hole bearing 230 degrees magnetic to 84 metres)

6m from 24‐30 metres @ 21.5ppm Ag, 0.25% Pb and 0.73% Zn

Hole RG7 (vertical to 48 metres)

4m from 0‐4 metres @ 19ppm Ag, 0.78% Cu and 0.27% Zn

A further 800 metres of reverse circulation drilling is proposed for the Ban Ban Project area prospects during the coming quarter.

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GAYNDAH COPPER GOLD PROJECT

Earlier field work on the Gayndah project identified two areas with significant gold, copper and silver zones for drilling. Access tracks and drill pads on the Oaky Creek Prospect south of Gayndah were completed late in the last quarter. Following the receipt of encouraging soil and stream sediment assays, access tracks and drill pads were then constructed to the Wetheron Prospect north east of Gayndah during this quarter. The location of these two prospects near Gayndah, and relative to the Ban Ban Zinc prospect, is shown on Figure 4.

Following completion of the initial 16 hole drill program at the Rannes prospects, the drilling rig was moved to Gayndah and five (5) reverse circulation holes drilled at Oaky Creek and then an initial three (3) 90 metre holes at Wetheron. Some early assay results from Oaky Creek are encouraging (see Figure 5) but final results from both prospects are pending. Depending on encouragement from these initial results and subsequent additional surface sampling further drilling on one or both of the Gayndah prospects will be undertaken.

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EPM 15134EPM 15134EPM 15134EPM 15134
DAGUILARDAGUILARDAGUILARDAGUILAR
WETHERON CU AUWETHERON CU AUWETHERON CU AUWETHERWETHERWETHERWETHERON CU AUWETHERON CU AUWETHERON CU AUN CU AUN CU AUN CU AU
PORPHYRYPORPHYRYPORPHYRYPORPHYRYPORPHYRYPORPHYRYPORPHYRYPORPHYRYPORPHYRY
STAIBSSTAIBSSTAIBSSTAIBSSTAIBSSTAIBSSTAIBSSTAIBSSTAIBS
GAYNDAHGAYNDAHGAYNDAHGAYNDAH HILLHILLHILLGOLDGOLDGOLDHILLHILLHILLGOLDGOLDGOLDHILLHILLHILLGOLDGOLDGOLD
not held by D'Aguilarnot held by D'Aguilarnot held by D'Aguilar not held by D'Aguilar
BAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPERBAN BAN COPPER
EPM 15134 DAGUILAREPM 15134 DAGUILAREPM 15134 DAGUILAREPM 15134 DAGUILAR
OAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEKOAKY CREEK
PORHYRY CU AUPORHYRY CU AUPORHYRY CU AUDIATREME AU AG PB ZNDIATREME AU AG PB ZNDIATREME AU AG PB ZNPORHYRY CU AUPORHYRY CU AUPORHYRY CU AUDIATREME AU AG PB ZNDIATREME AU AG PB ZNDIATREME AU AG PB ZNPORHYRY CU AUPORHYRY CU AUPORHYRY CU AUDIATREME AU AG PB ZNDIATREME AU AG PB ZNDIATREME AU AG PB ZN EPM EPM EPM EPM 14881 DAGUILAR14881 DAGUILAR14881 DAGUILAR14881 DAGUILAR
EPM 14079EPM 14079EPM 14079EPM 14079EPM 14079EPM 14079EPM 14079EPM 14079EPM 14079
RAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLYRAVENS GULLY
CU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MO
CU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MOCU PB ZN MO
D'AGUILAR GOLD LTDD'AGUILAR GOLD LTDUU RR OO SKARNSSKARNSSKARNSZN CU PB MOZN CU PB MOZN CU PB MOSKARNSSKARNSSKARNSZN CU PB MOZN CU PB MOZN CU PB MOSKARNSSKARNSSKARNSZN CU PB MOZN CU PB MOZN CU PB MO
GAYNDAH PROSPECTSN R S T
COMPETING DAGUILAR AND NEWCRESTCOMPETING DAGUILAR AND NEWCRESTCOMPETING DAGUILAR AND NEWCRESTCOMCOMCOMCOMPETING DAGUILAR AND NEWCCOMPETING DAGUILAR AND NEWCRESTCOMPETING DAGUILAR AND NEWCINININ DAGUILAR AND NEWCREST DAGUILAR AND NEWC DAGUILAR AND NEWCRESTESTESTEST
APPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONSAPPLICATIONS
0 5 10
THREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERSTHREE SISTERS
BRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MOBRECCIA PIPE MO kilometres
AU VEIN SYSTEMAU VEIN SYSTEMAU VEIN SYSTEMAU VEIN SYAU VEIN SYAU VEIN SYAU VEIN SYSTEMAU VEIN SYSTEMAU VEIN SYSTEMEMEMEM
Figure 4: D’Aguilar and Newcrest Prospects – Gayndah & Ban Ban Area
Oaky Creek Dec 07 Drilling
. [BAR 5 ][awaiting assays]
30-74m @ 0.16g/t Au
BAR 3
36-78m @ >0.1% Cu . 2-12m @ 0.19g/t Au, 45g/t Ag
. [BAR 1] 28-44m @ 0.48g/t Au, 66g/t Ag, 0.52%Pb, 1.01%Zn72-86m @ 0.20g/t Au, 33g/t Ag, 0.46%Pb, 1%Zn
.
bottom of hole 94-97m @ 0.71g/t Au, 17g/t Ag
BAR 2 6-40m @ 0.16g/t Au
N
0 500 1,000
meters
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Figure 5: Early assay results – Oaky Creek, Gayndah

RIDGE EXPLORATION

OTHER ACTIVITIES

While the company waits for the 21 Exploration Permit applications to process through the Department of Mines and Energy, the wholly owned subsidiary Ridge Exploration Pty Ltd has been progressing it’s iron ore strategy (outlined in the previous September Quarterly Report) on two fronts.

From an exploration viewpoint, significant research of past explorer’s reports is continuing. Further, detailed radiometric and landsat remote sensing images have been sourced to assist in focussing the upcoming field program to the most prospective areas.

From a metallurgical viewpoint, discussions have been held with minerals processing expert consultants in the fields of iron ore and uranium to commence research programs on the most economic way to recover the uranium and produce a high value iron ore or intermediate product. The company remains very positive and encouraged by recent discussions.

A detailed field program for the Bathurst Base Metals Project is currently in preparation, and is expected to include the use of an Induced Polarisation (IP) survey to narrow target definition ahead of an initial drilling campaign planned for later in 2008.

A short 200 metre reverse circulation drilling campaign (2‐3 holes) is planned for the Court Le Roi gold prospect area in the Kilkivan area, SE QLD late this quarter.

At Elginvale‐Peenam , south east of Gympie, the recent VTEM survey indicated an EM conductor coincident with elevated soil copper geochemistry anomalies. After detailed consideration of the existing data it has been concluded that a single deep hole will be effective in assessing the prospect. D’Aguilar is targeting a significant copper porphyry deposit in the area. A single 300 metre hole is planned to be drilled with the same rig that will be contracted to drill the Mt. Cobalt nickel/cobalt areas late in this quarter and in to the next quarter.

Footnote 1: Explanatory Notes regarding Anduramba Molybdenum Resource Statement :

Competent Person and JORC Code

The resource report was prepared in accordance with the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) by Alex Virisheff, Principal Resource Geologist and Troy Lowien, Resource Geologist, of consultants Coffey Mining Pty Ltd, who are Members of The Australasian Institute of Mining and Metallurgy (“AusIMM”).and have a minimum of five years of experience in the estimation, assessment and evaluation of Mineral Resources of this style and are the Competent Persons as defined in the JORC Code. Troy Lowien conducted the geological modelling, statistical analysis, variography, grade estimation, and report preparation. This announcement accurately summarises and fairly reports his estimations and he has consented to the resource report in the form and context in which it appears.

Estimation Procedures

Molybdenum mineralisation occurs as coarse molybdenum associated with quartz veining and also disseminated through the host rock in areas. Exploration has been conducted in the area since 1967. The investigations of the Anduramba porphyry have include detailed mapping, soil sampling, stream sediment sampling, the rock chip sampling of an adit, geophysical surveys and various diamond, percussion and reverse circulation drilling programs.

Adequate quality control procedures have been implemented for all data collection by the Company from 2006 onwards so that appropriate levels of analytical precision and accuracy have been achieved for use in resource estimation. A limited amount of quality control data was collected for the pre‐2006 drilling. What data is available indicates a reasonable level of quality. Coffey Mining is satisfied that the pre‐2006 exploration data is appropriate for use in resource estimation.

The usual sampling interval is 2 metres in each drill hole. Mineralised domain boundaries for the purpose of constraining grade estimation have been interpreted and modelled based on the geological logging, grade constraints and interpreted geological and structural controls. Statistical and geostatistical analyses within domains were carried out on 2m composites. An outlier analysis resulted in the cutting of some high grade composites to avoid overestimation of grade. All Mineral Resources quoted in this report are based on grade estimates contained in 3 dimensional block models created with Surpac® Software. All metal grades were interpolated using an Ordinary Kriging algorithm and validated by visual and statistical comparison. Tonnage calculation was based on limited in situ bulk density measurements obtained from diamond core. Resource classification was in accordance with guidelines as set out in the JORC Code (2004). The key criteria used in classification were drill density, geological and grade continuity, and quality of grade estimates.

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Footnote 2 ‐ Molybdenum equivalents (“Mo Eq”) assumptions :

Cut‐off grades are based on Molybdenum Equivalence (“Mo Equiv”) and the inputs for this calculation are:

	1	troyounce(oz)	troyounce(oz)	=	31.103477	grams(gm)	grams(gm)
	1	pound(lb)		=	453.5924	grams(gm)
	Metal*		Prices (US$) Feb 2007 outlook		Units		Price (US$) per gram (gm)		Ratio
	Mo Ag C		$25.00 $13.50 $250		/ lb / troy ounce /lb		$0.055 / gm $0.434 / gm $0006/		1.00 7.88 01
	u		.				. gm		.	.

Where Mo = Molybdenum, Ag = Silver and Cu = Copper (all in ppm)

In the Company’s opinion all elements included in the metal equivalents calculation have a reasonable potential to be recovered, approximately in the proportions of 70% to 85% for Mo, 75% to 85% for Ag and 70% to 80% for Cu based on preliminary metallurgical testwork results to date. Recoveries may change as testwork proceeds. On this basis, the formula used to calculate Mo Equiv is as follows (note no recoveries have been included in this calculation):

Mo Equiv = Mo + 7.88xAg + 0.1xCu

Footnote 3 ‐ Gold Equivalents (“Au Eq”) assumptions :

In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:

	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:	Footnote 3‐ Gold Equivalents (“Au Eq”) assumptions: In most gold‐silver mines of this geological type, both gold and silver are recovered and sold. Gold is far more valuable per gram than silver but the two precious metals can be combined into a gold equivalent value “Au Eq”. The assumptions used for this Au Eq calculation are:
	1 troyounce(oz) = 31.103477 grams(gm) Metal* Prices (US$) Dec 2007 outlook Units Price (US$) per gram (gm) Ratio Today’s Spot Prices for comparison with the December 2007 outlook prices used Ag $14 / troy ounce $0.450 / gm 57 US$16.40/oz A $800 /t $2572/ 1 US$91250/
	Metal*	Prices (US$) Dec 2007 outlook	Units	Price (US$) per gram (gm)	Ratio
	Ag A	$14 $800	/ troy ounce /t	$0.450 / gm $2572/	57 1
	u		royounce	. gm		.oz

Where Ag = Silver and Au = gold (all in grams per tonne of ore “g/t”)

In the Company’s opinion all elements included in the metal equivalents calculation have a reasonable potential to be recovered, approximately in the proportions of 85% to 95% for Ag, 90% to 95% for Au based on standard industry practice. Recoveries may change as testwork proceeds. On this basis, the formula used to calculate Au Equiv is as follows (note no difference in relative recovery rates have been included in this calculation):

Au Eq = Au + Ag / 57

Competent Persons Statement

The information in this report (excluding the Anduramba Molybdenum resource statement) that relates to Exploration Results and Mineral Resources is based on information compiled by Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr. Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr. Mather as the Managing Director of D’Aguilar Gold Ltd and director of Central Minerals Pty Ltd of which D’Aguilar Gold owns 100%.

Mr. Mather has sufficient experience which is relevant to the style of mineralisation and type of deposit being reported and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (the JORC Code). Mr. Mather has consented in writing to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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CORPORATE INFORMATION

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DIRECTORS

Nicholas Mather (Managing Director) Ian Levy (Chairman) Brian Moller Vincent Mascolo

ISSUED CAPITAL

At 31 December 2007, D’Aguilar Gold Ltd had the following securities on issue:

• 145.6 million ordinary shares

• 2.4 million (unlisted) 12.7c staff options expiring 31/7/08

COMPANY SECRETARY Duncan Cornish

EXPLORATION MANAGER Neil Wilkins

• 16.7 million (unlisted) 19.7c options expiring 30/9/08

• 1.0 million (unlisted) options (12.7c to 25.0c) expiring 30/6/09 (certain vesting conditions apply)

• 4.0 million (unlisted) 27.5c options expiring 30/6/11

GENERAL MANAGER

Greg Runge

AUSTRALIAN STOCK EXCHANGE (“ASX”)

REGISTERED OFFICE AND HEAD OFFICE

D’Aguilar Gold Ltd Level 5, 60 Edward Street Brisbane QLD 4000 Phone:+ 61 (0)7 3303 0680 Fax: + 61 (0)7 3303 0681

SHAREHOLDING ENQUIRIES

Link Market Services Limited manages D’Aguilar Gold Ltd’s share registry.

If you would like to monitor your shareholding online, you can do so by visiting Link Market Services Limited’s website, www.linkmarketservices.com.au and following the instructions.

For issuer‐sponsored shareholders, if you change address, or if you have any other queries regarding the details of your shareholding, please contact the Company’s share registry directly:

ASX Codes: DGR (Ordinary shares)

INTERNET ADDRESS

All Company announcements, reports and presentations are posted on our website www.daguilar.com.au

If you would like to receive news releases by email, please send us an email to info@daguilar.com.au with the subject “email alerts” or register your details on our website by clicking “Contact Us” and entering your details.

Website: www.daguilar.com.au

AUSTRALIAN BUSINESS NUMBER

ABN 67 052 354 837

Link Market Services Limited Locked Bag A14 SYDNEY SOUTH NSW 1235 Phone: 1300 554 474