DGR GLOBAL LIMITED — Interim / Quarterly Report 2015

Apr 6, 2015

A C T I V I T I E S R E P O R T F O R T H E M A R C H 2 0 1 5 Q U A R T E R

QUARTERLY REPORT

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Quarter Highlights

DGR Global (ASX: DGR)

▪ Strong financial backing of JSE listed South African mining specialist Assore Limited and Japanese global trading house Sumitomo Corporation. Cornerstones the raising of approximately AUD19 million in the IPO and successful listing of IronRidge Resources Limited on the LSE AIM in February. DGR holds over 63 million shares (26.3%).

▪ Hartz Rare Earths (DGR 100%) pulls tenement applications and relinquishes granted EPMs as NSW government fails to lift the ban on uranium mining and the new government affirms intentions to reinstate a total ban on uranium mining in Qld.

D’Aguilar Gold holds

▪ Orbis Gold Limited shareholders accept takeover from Canadian 35.2 million shares based gold miner SEMAFO, delivering DGR over AUD26 million for its cornerstone holding of 36.5 million shares. This takeover represents representing 15.6% the first of many potential development or liquidity outcomes of the of Solomon Gold plc. DGR corporate strategy (refer next section of report).

Archer Resources | 67% DGR Owned

▪ Qld Government grants renewal of key tenements in the Mt Abbot and Calgoa Project areas.

prospective gold ground between the former Black Jack and Mt Leyshon mines south west of Charters Towers.

Armour Energy Ltd | ASX: AJQ – DGR 25% - 75m Shares

• Careful management of costs and tenement obligations, combined with a solid cash position, has Armour well placed in a relatively strong position through challenging market conditions, and able to take advantage of attractive oil and gas market fundamentals on the Australian east coast over the next 12 months and beyond.

SolGold plc | LSE: SOLG – DGR 8% - 54.5m Shares

• Focus on high grade world class copper gold porphyry system at Cascabel in Ecuador. Cascabel is close to the capital and ports, low elevation, has adequate water supplies and access to power.

• Assay results from several drill holes confirm discovery of large scale, high grade porphyry system at the Alpala Prospect. Further significant long high grade drill intersections were announced to the London Stock Exchange during the last quarter and can be viewed on the LSE or company website www.solgold.com.au.

IronRidge Resources Ltd (LSE: IRR – DGR 26.3%) – 62.3m shares

Coolgarra Minerals | 100% DGR Owned

• Grant of Boyne tenement prospective for chromite (proximate the Port of Gladstone).

DGR Zambia | 100% DGR Owned

▪ Joint venture partner being sought.

Pinnacle Gold | 94% DGR Owned

• Successful IPO and listing on LSE AIM on 12 February.

• Highly prospective hematite rich iron targets evident in Tchibanga and Belinga Sud licence areas in Gabon – total tenure 5,400 km[2] . Tchibanga is less than 70 km from the port of Mayumba, with a low capex initial small scale open cut mining operation with road haulage to the port subject to desk top study.

• An intense 18 month work program will commence this quarter.

▪ Qld Government grants Mabel Jane tenement covering highly

Figure 5

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Quarter Highlights DGR Global Creates Resource Companies

Navaho Gold Ltd (ASX: NVG – DGR 19.5%) – 113.5m shares

Aus Tin Mining Limited (ASX: ANW – DGR 14.1%) – 133m shares

• can turn former sub economic deposits into viable

• ▪ Maiden JORC resource estimate confirms Taronga as a world class tin projects, DGR Global Projects frequently emerge from project. The details of the resource (79% indicated) can be viewed on

• detailed reassessment and reinthe ASX or on the company website terpretatwww.austnmining.com.auon of large .

• Acquisition of prospective thermal and metallurgical coal projects in Argentina.

• During the quarter DGR Global strongly advanced its

• objective to become a diversified global resource project Appointment of Messrs Neil Stuart and David Mason as Directors of Navaho Gold.

• generator and investment company.

• databases with a new perspective. In the past, DGR Global

• ▪ Metallurgical flow sheet completed for Taronga pre-feasibility study. Directors and Managers have applied new exploration Ore described as coarse grained, having simple metallurgy, and highly

• models to extensive tenement areas which have amenable to pre-concentration.

• Subsidiary NavGas Pty Ltd has released a presentation on the

• DGR Global generates its own large scale resource company’s oil and gas projects in Qld and South Australia, and this

• exploration projects directly through the skills and can be viewed on the ASX or the company website experiewww. n avahogold.comce of its accomplished team of explorationists.

• contributed to the identification of new mineral provinces

• ▪ The Pre-Feasibility Study released to the ASX on 7 April 2014 confirms and the discovery of nationally significant resources. the technical and economic viability of the Taronga Tin Project and

• DGR Global’s highlights areas of potential economic upside.strategy to independently finance, manage

• Most resource investment companies purchase their

• ▪ Relatively low risk oil and gas prospects on the Roma Shelf mixed investment stakes at a high cost with restricted scope and with high volume, higher risk prospects in the Proterozoic Cambrian

• low diversity and it is aged formations in Sou t h Australiahis important difference that gives DGR Global its strong competitive edge.

• and list its key assets on recognised stock exchanges is Agreement with DGR and private investors to invest $1.44m into designed Aus Tin a t 0.4cps (somo deliver n e subject to shareholder approval)gotiability for its key assets, provide less dilutive funding of forward exploration programs and

DGR Global Creates Resource Companies deliver expanded and focussed Project Management Teams independent of DGR Global .

Many exploration companies tend to prematurely focus on the definition of a restricted resource and/or development

DGR Global In contrast, holds key equity positions in its subsidiary DGR Global’s philosophy is to secure provincial companies after listing. As shown in the DGR Global Group tenure positions, prospective for commodities with a high Corporate Structure (see Fig 1), at 30 April DGR Global holds demand growth profile, which attract globally diverse 25% ASX listed Armour Energy Ltd (ASX : AJQ) 10.5% AIM listed Solomon Gold Plc (LSE: SOLG), 30.6% ASX listed capital funds. The company adopts a lateral and creative Mt Isa Metals Ltd (ASX: MET), 41.5% AusNiCo Ltd approach in the identification the exploration target.

without the scope for world class discoveries. In contrast, During the quarter DGR Global continued to advance its DGR Global’s philosophy is to secure provincial tenure objective to become a diversified global resource project positions, prospective for commodities with a high demand generator and investment company. growth profile, which attract globally diverse capital funds. D’Aguilar Gold holds 35.2 million shares DGR Global The company adopts a lateral and creative approach in the generates its own large scale resource identification of both the commodity and exploration representing 15.6% exploration projects directly through the skills and target. of Solomon Gold plc. experience of its accomplished team of explorationists. DGR Global exploration projects tend to be very large, Most resource investment companies purchase their targeting new provinces with the potential to make worldinvestment stakes at a high cost with restricted scope and class discoveries. The exploration concepts are often novel. low diversity and it is this important difference that gives While increased metal prices and advances in technology DGR Global its strong competitive edge.

(ASX: ANW) and 29% Navaho Gold Ltd (ASX: NVG). Table DGR Global exploration projects tend to be very large, 1 and the following figures 2 and 3 demonstrate how DGR targeting new provinces with the potential to make worldGlobal continues to build value for shareholders. class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, DGR Global Projects frequently emerge from detailed reassessment and reinterpretation of large databases with a new perspective.

Many exploration companies tend to prematurely focus on the definition of a restricted resource and/or development without the scope for world class discoveries.

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Figure 1: DGR Global Group
Corporate Structure at 31/03/15
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Fig 1: DGR Global Corporate Structure as at 31 March 2015
Figure 5
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DGR Global Creates Resource Companies Figure 2 The Resource Company Factory

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Table 1: Current portfolio of
Assets held by DGR and market
valuation of listed entities
Market value represents the market quoted
price for listed investments at 27 April 2012
or the price at which the last round of
financing was raised for unquoted
investments. No value has been attributable
to the prospects in development.
1 The LionsGate Metals Inc (‘LionsGate’)
warrants allow the company to take up one
ordinary share in LionsGate to an exercise
price of C$1.50. The warrants are fully
vested and expire on 10 March 2013.
2 The Navaho Gold Ltd (“NVG”) options allow
the Company to take up one ordinary share
in NVG at an exercise price of $0.20. The
options are fully vested and expire on 31
December 2013.
3 The AusNiCo Ltd (“ANW”) options allow the
Company to take up one ordinary share in
ANW at an exercise price of $0.30. The
options are fully vested and expire on 19
November 2013.
D’Aguilar Gold holds 4 The Armour Energy Ltd (“Armour”) options
allow the Company to take up one ordinary
35.2 million shares share in Armour at an exercise price of
representing 15.6% $0.50. The options are fully vested and expire on 31 August 2014.
of Solomon Gold plc. 5 The Archer Resources Ltd (“Archer”) options
allow the Company to take up one ordinary
share in Archer at an exercise price of
$0.20. The options are fully vested and
expire on 31 December 2014.
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In the past, DGR Global Directors and Managers have applied new exploration models to extensive tenement areas which have contributed to the identification of new mineral provinces and the discovery of nationally significant resources.

DGR Global’s strategy to independently finance, manage and list its key assets on recognised stock exchanges is designed to deliver negotiability for its key assets, provide less dilutive funding of forward exploration programs and deliver expanded and focussed Project Management Teams independent of DGR Global.

DGR Global holds key equity positions in its subsidiary companies after listing. As shown in the DGR Global Group Corporate Structure (see Figure 1) at 31 March 2015 DGR Global holds 25% ASX listed Armour Energy Ltd (ASX : AJQ) 8% AIM listed SolGold Plc (LSE: SOLG), 26.3% AIM listed IronRidge Resources Ltd (LSE:IRR), 14.1% Aus Tin Mining Fig 2: (left) DGR Global building Ltd (ASX: ANW) and 19.5% Navaho Gold Ltd (ASX: NVG). shareholder value Figure 2 and Table 1 demonstrate how DGR Global continues to build value for shareholders. Fig 3: (below) DGR Global resource

company creator—Armour Energy raises the bar for the future

Investment	Listed	Number of Shares	Price	Exchange	Market Value
	Code		$ or £	Rate	**AUD **
Lions Gate Metals Inc	TSX V: LGM	75,000	0.08	1.03	6,180.00
SolGold plc	LSE AIM: SOLG	54,517,440	0.028	1.94	2,961,387.34
Navaho Gold Ltd	ASX: NVG	113,543,456	0.003	1	340,630.37
Aus Tin Mining Ltd	ASX: ANW	133,030,650	0.004	1	532,122.60
Armour Energy Ltd	ASX: AJQ	75,050,000	0.056	1	4,202,800.00
IronRidge Resources Ltd	LSE AIM: IRR	62,293,334	0.0575	1.94	6,948,821.41
Total Market Value of Listed Assets 14,991,941.72
Net Cash on hand 22,165,432.00*
Total Liquid Assets 37,157,373.72
Value attributable to each DGR share 0.090
DGR Global Ltd ASX: DGR 412,162,185 0.045 1 18,547,298.33

Table 1: Current Portfolio and Market Valuation of Listed Assets held by DGR Global.

# Market value represents the market quoted price for listed investments at 31 March 2015.

*N.B does not account for non current liabilities and provisions for tax, discounts on liquidation, long term employment liabilities, restoration and termination liabilities

Figure 5

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fied the existence of high grade structures within widespread sub economic grades. DGR Global has also transferred an EL in the Central Porphyry Copper-Gold-Silver-Molybdenum Lachlan Fold Belt near Bathurst, NSW to Archer Re-

sources. This EL contains an exciting gold-silver ProArcher is focussed on the discovery and development of ject at Caloola which already has an historic (nonporphyry copper gold silver molybdenum deposits in EastJORC) gold occurrence of 235,000 tonnes @ 2.5g/t ern Queensland. Au. The deepest historic drill hole CP10 stopped in

mineralisation at 96m, later assaying 14m of 3.86 g/t The company holds a portfolio of 6 very prospective Au from 82 metres. exploration project areas and early-stage resources with huge upside potential. The six project areas (shown in During the quarter Archer completed a small RC Figure 3) contain at least 15 prospects, with several drill drilling program at Caloola of 4 holes to 140 metres. ready targets.

The assay results confirmed the historical drilling The Mt Abbot Project area (see Figure 4) holds several grades and thicknesses, and revealed a folded strucwalk up targets including Stockyard Creek, The Springs and ture likely to indicate additional tonnages. The strucEuri Creek. The Calgoa Project area (see Figure 5) has hightural information obtained will greatly assist in plangrade porphyry style mineralisation evident in historic ning follow up drilling programs. workings within a large alteration zone of > 40 km[2] .

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Figure 3: Archer Resources Project Locations

Marodian is probably the lrgest untested copper molybdenum gold porphyry system in the south west Pacific. Within the 30 – 40 km² Cu Mo and Au zone (see Figure 9–use Fig Figure 4: Mt Abbot Project Area—3 EPMs 8 from Sep report) there are widespread areas of breccia vein stockworks and disseminations of generally low grade but with locally richer patches that have supported small underground mines in the past. Historical surface geochemistry is incomplete, covering less than half the system, and rarely tested for gold. Porphyry copper deposits are normally tested with holes of 300m or deeper (due to the scale of the deposits) but no holes at Marodian are deeper than 100m and almost all are less than 60m. The deepest previous drilling (by the Queensland Government) tested the underground workings around the former Lug I Noor mine at the western extremity of the

Marodian system. These holes gave variable results but veri- Figure 5: Central area – Calgoa Project – showing historic mining sites

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Coolgarra Minerals

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Coolgarra Minerals holds 2 Exploration Permits for Gold and Antimony north of Greenvale, Qld, and a new EPM west of Gladstone prospective for chromite (see photograph on Page 6). The Pandanus Creek EPM (see Figure 6) contains substantial historic gold workings, with identified initial prospects at “Janelles Hope” and “Wades”. Antimony has historically been seen as a potential impediment to good gold recovery, but in today's market is now a very valuable co-product. The EPM contains widespread antimony >20% Sb in rock samples. The potential for a significant discovery is clear when it is realised that Wades prospect contains 2 parallel mineralised belts > 5 km in length.

Figure 6: Pandanus Creek – Old workings and gold/antimony soil anomalies on magnetics

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Pinnacle Gold holds 2 EPMs for gold exploration in Qld, both in close proximity to significant prior gold production. The latest of these EPMs has only been granted this quarter, and as shown in Figure 7, is located between the historic Black Jack and Mt Leyshon Mines near Charters Towers.

Pinnacle Gold’s research shows that most of this area is soil covered, with previous exploration mainly confined to areas of outcrop.

There has been no systematic geochem survey yet the area clearly lies on potentially mineralising structures (Charter TowersBlack Jack – Mt Leyshon). Previous explorers appear to have been distracted by small high grade gold bearing quartz veins with no size potential, mapping and sampling known workings and drilling in only two areas. An initial exploration program focussed on systematic soil sampling is planned for the winter months.

Figure 7: Magnetic Image, EPM 25525 between former Black Jack and Mt Leyshon Mines

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D G R G L O B A L L I M I T E D A C T I V I T I E S R E P O R T | M A R 2 0 1 5 kkkkjkj

QUARTERLY REPORT Corporate Information Directors

William Stubbs (Chairman) Nicholas Mather (Managing Director) Brian Moller Vincent Mascolo

Company Secretary

Karl Schlobohm

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Issued Capital

At 31 March 2015, DGR Global Ltd had the following securities on issue:

▪ 412,162,185 ordinary shares

• 5 million (unlisted) 28 cent options expiring 24/04/15

• 12 million (unlisted) 12 cent options expiring 30/11/16

Exploration Manager

Neil Wilkins

General Manager

Greg Runge

Registered Office and Head Office

D’Aguilar Gold

DGR Global Limited

holds 35.2 million Level 27, 111 Eagle Street Brisbane QLD 4000 Phone:+ 61 (0)7 3303 0680 Fax:+ 61 (0)7 3303 0681 shares representing Website: www.dgrglobal.com.au 15.6% of Solomon

Australian Stock Exchange (“ASX”)

ASX Code: DGR (Ordinary shares) Australian Business Number

ABN 67 052 354 837

Internet Address

• 11 million (unlisted) 12 cent options expiring 29/05/17

• 500,000 Convertible Notes at $1.00 each

Shareholding Enquiries

Link Market Services Limited manages DGR Global Ltd’s share registry.

If you would like to monitor your shareholding online, you can do so by visiting Link Market Services website:

www.linkmarketservices.com.au and follow 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:

Link Market Services Limited

Locked Bag A14 SYDNEY

Phone: 1300 554 474

All Company announcements, reports and presentations are posted on our website www.dgrglobal.com.au If you would like to receive news releases by email, please send email to info@dgrglobal.com.au with the subject “email alerts” or register your details on our website by clicking “Contact Us” and entering your details.

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Chromite Outcrop, Coolgarra Minerals EPM 25547 Boyne
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Exploraton and Mining Tenements

DGR Global interests in mining and exploration tenements at the end of the Quarter are as shown in the attached Appendix.

Competent Persons Statement

The information in this report that relates to Exploration Results and Exploration Targets is based on information complied 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 DGR Global Ltd and a Director of its subsidiaries and associates. 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 2012 Edition of the ‘Australian 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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Appendix

31-March-2015

DGR Global - Group Mining and Exploraton Tenements

Tenement	**Type **	Principal Holder	Locaton
ML 3678 ML 3741 ML 3749 ML 3752 ML 3753 ML 50059 ML 50099 ML 50148 MDL 409 EPM 15238 EPM 19379 EPM 19411 EPM 19815	Mining Lease " " " " " " " Mineral Development Licence	DGR Global Limited " " " " " " " " " Archer Resources Limited¹ " "	Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia Qld, Australia
	Exploraton Permit for Minerals
	" " "
EPM 25266	"	"	Qld, Australia
EPM 15134	"	Barlyne Mining Pty Ltd²	Qld, Australia
EPM 18451 EPM 18808 EPM 19087	" " "	" "	Qld, Australia Qld, Australia Qld, Australia
EPM 25157	"	"	Qld, Australia
EPM 25189	"	"	Qld, Australia
EPM 18534	"	IronRidge Resources Limited³	Qld, Australia
EPM 19164	"	"	Qld, Australia
EPM 19419	"	"	Qld, Australia
EPM 25115	"	"	Qld, Australia
ATP Belinga Sud	Authority to Prospect	IronRidge Gabon S.A.⁴	Gabon, Africa
ATP Tchibanga	"	"	Gabon, Africa
ATP Tchibanga Nord	"	"	Gabon, Africa
EPM 16260	Exploraton Permit for Minerals	Eastern Exploraton Pty Ltd⁵	Qld, Australia
EPM 16261	"	"	Qld, Australia
EPM 25158	Exploraton Permit for Minerals	Hartz Rare Earths Pty Ltd⁶	Qld, Australia
EPM 25160	"	"	Qld, Australia
EPM 25295	"	"	Qld, Australia
EPM 19270	"	Coolgarra Minerals Pty Ltd⁷	Qld, Australia
EPM 25416	"	"	Qld, Australia
EPM 25547	"	"	Qld, Australia
EPM 19625	"	Pinnacle Gold Pty Ltd⁸	Qld, Australia
EPM 25525	"	"	Qld, Australia
16999-HQ-LPL 17308-HQ-LPL	Large Prospectng Licence "	DGR Zambia Limited⁹ "	Zambia, Africa Zambia, Africa
Notes 1 67% owned by DGR Global 2 100% owned by Archer Resources 3 26% owned by DGR Global 4 100% owned by IronRidge Resources 5 100% owned by IronRidge Resources 6 100% owned by DGR Global 7 100% owned by DGR Global 8 94% owned by DGR Global 9 100% owned by DGR Global Legend Granted or acquired during the quarter IronRidge Resources listed on LSE AIM during the quarter Surrendered, Expired or Sale/Disposal during the quarter