DGR GLOBAL LIMITED — Interim / Quarterly Report 2020

Oct 23, 2019

DGR Global Quarterly Report

DGR GLOBAL (ASX: DGR) is not just another resources company. DGR Global is a resource company creator .

Our project generation, strategic tenure acquisition, corporate development and investment capabilities provide diversity across several different commodities, sovereign jurisdictions and international financial exchanges. With our group of talented geoscientists, we focus on identifying and securing projects that will yield valuable world-class resource assets.

JULY 2019 – SEPTEMBER 2019

DGR Global (ASX:DGR) 27/111 Eagle Street, Brisbane, QLD 4000 www.dgrglobal.com.au 07 3303 0680

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ASX ANNOUNCEMENT

QUARTERLY REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2019

DGR Global [ASX:DGR]

• The company continues to be focussed on new project generation and value creation (see later sections) and also continues to seek out new investment and development opportunities to drive the creation of new resource companies.

• Business model endorsed by the best performing hedge fund in the world for 2016 with Tribeca Investment Partners providing $10 million in convertible note funding to further develop the resource company creation business[1] .

• DGR holds an 83.16% (Armour Energy 16.84%) interest in a highly prospective oil project in the Kanywataba Block, Uganda[2] .

• HSE for the group entities for which DGR acts as Operator, maintains a rolling 12-month TRIFR of 0.00 and zero environmental incidents for the corresponding period, highlighting the continuous commitment to safe operations.

• Consolidated cash of $1.31 million at 30 September.

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SolGold Plc (LSE and TSX: SOLG) – DGR Interest 11.06% 204.1M Shares

• Focus on high-grade world-class copper gold porphyry systems at Cascabel in Ecuador. Cascabel is close to Quito, (the Capital) and seaports, is at low elevation, and has abundant water supplies and access to hydropower.

• Updated NI 43-101 compliant Alpala Mineral Resource estimate, released in November 2018, more than doubled the initial estimate reported in January 2018 – refer SolGold website for details[3] .

• Sampling and mapping continued across SolGold’s additional 72 wholly owned Mineral Concessions in Ecuador to remain the dominant explorer in the country.

• Extensive high-grade copper, gold and zinc mineralisation already discovered in outcrops on several concessions in Southern Ecuador, particularly at the La Hueca, Timbara and Porvenir Projects[4] . High grade epithermal gold mineralisation discovered at the Blanca and Cisne Loja Project[5] .

• Ongoing mapping and sampling at the Porvenir Project have identified a significant porphyry copper gold system[, ] with a new discovery at Porvenir Target 15[6] .

• Over 201,930 metres resource drilling now assayed ahead of upcoming third Mineral Resource update (MRE#3)[7] .

• Large copper and gold systems discovered at the Chical Project in Northern Ecuador[8] .  Strong epithermal gold and copper porphyry results for the Cisne Loja Project with copper, gold and silver mineralisation identified over an area 1.5km by 1km[9] .

• Strong initial copper gold porphyry results for the Coangos Project in southern Ecuador indicate very high potential for a major copper gold porphyry project in the broader tenement area[10] .

• Positive PEA Study results announced for Alpala with the PFS being advanced for release in Q1, 2020. Full details available on the SolGold website[11] .

• Extensive lithocap identified at Rio Amarillo with significant copper and gold results[12] .  The Constitutional Court in Ecuador unanimously rejected the petition by the applicant that challenged the legality and validity of the future of mining in the Carchi and Imbabura Provinces in northern Ecuador and furthermore, unanimously dismissed the petition to prohibit mining in Azuay Province in Southern Ecuador[13] .

• Discovery of a new copper gold molybdenum porphyry target at the Sharug Project in Central Ecuador[14] .

• Finalising formal documentation for the bid for the share capital of TSV-listed Cornerstone Capital Resources Inc. ( Cornerstone ) in Explorationes Novomining SA (ENSA) which holds the Cascabel concession in which the Alpala resource is located, of which SolGold holds a registered and beneficial interest of 85%[15] .

• Recent mapping and rock chip sampling at the Cielito Vein Prospect within the Blanca Project have returned additional high-grade results over 400m of strike confirming it as a highgrade epithermal priority drill target[16] .

• Appointment of Mr. Ingo Hofmaier to the position of Executive General Manager, Project and Corporate Finance , focusing on the establishment of a development financing solution for SolGold’s share of development costs incurred by ENSA on the Cascabel Project[17] .

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Armour Energy Ltd (ASX:AJQ) – DGR Interest 19.01% 112.0M Shares

• Holds highly prospective whole basin oil and gas positions in Northern Territory and North West Qld covering 139,000 km[2] , and a track record of exploration success.

• Binding term sheet for $A95 million agreed after the end of the quarter with Santos QNT Ltd for farm-in to Armour’s South Nicholson Basin oil and gas exploration project in Northern Australia. This agreement includes an upfront cash payment of $A15 million[18] .

• $A55 million refinancing through secured and amortising debt notes finalised, enabling the retirement of existing convertible note funding and assisting with the delivery of a material work program that is geared towards achieving ongoing growth objectives[19] .

• The LPG system of the Kincora Gas Plant has been successfully recommissioned and the whole plant is fully operational. Gas, LPG and condensate from existing production wells has been processed and sold for the last twelve months[20] .

• Awarded further Roma Shelf petroleum acreage near the Kincora plant[21] .

• Independently verified 2P reserves have increased by 56% since the previous assessment in October 2018[22] .

• Armour holds an interest in an Exploration Licence (DGR 83.16%, Armour 16.84%) over the highly prospective Kanywataba Block in the Albertine Graben, Uganda. Less than 40% of the Albertine Graben has been subjected to exploration to date where 101 wells of approximately 115 wells drilled have encountered hydrocarbons[23] .

• Petroleum acreage near Chinchilla awarded to the Armour-APLNG JV with first gas from this tenement area planned for delivery by mid-2021[24] .

• Phase 3 growth strategy to increase production by end 2019 continues with the spudding and drilling of Myall Creek North 1 development well[25 ] and the spudding of the Horseshoe 4 well[26] .

• $4 million cash raised pursuant to a private placement to further progress the Kincora Project[27] .

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IronRidge Resources Ltd (LSE:IRR) – DGR Interest 21.94% 68.5M Shares

• Primary focus on gold (in Chad and Ivory Coast ) and lithium (in Ghana and Ivory Coast ) now firmly established with extensive tenement packages secured in all three countries.

• Major new gold discovery at the Dorothe Project and nearby Ouchar and Echbara licence areas in Chad, gold projects in Ivory Coast, and lithium projects with proven large, high grade lithium spodumene pegmatites in Ghana and Ivory Coast[28] .

• Earn-In Agreement executed over the Zaranou Gold Project covering 397 km[2] , complimenting and enhancing the existing Ivory Coast portfolio for a combined total of 3,584 km[2] gold focussed land package. Mapping and early stage rock chip and channel sampling field programmes have commenced with consistent and high-grade results being returned[29] .

• Exceptional metallurgical results for the Ewoyaa Pegmatite Project which forms part of the Cape Coast Lithium Portfolio demonstrating the project’s capacity to deliver a premium product, with bulk sample test work delivering high grade concentrate with low contaminants with ongoing Reverse Circulation (RC) drilling[30] .

• Completion of the acquisition of the Vavoua Projects , a highly prospective gold exploration portfolio in the Ivory Coast[31] .

• Detailed face mapping, channel sampling, rock chip sampling, airborne magnetics geophysical survey and over 3,900m of air-core drilling undertaken in the Ivory Coast project portfolio with high-grade results received[32] .

• 3,000 hole auger geochemical drilling programme and regional geochemical soil sampling programme commenced in the Ivory Coast project portfolio[33] .

• Retention of highly prospective hematite rich iron targets evident in Tchibanga and Belinga Sud licence areas in Gabon – total tenure 5,400km[2] . Tchibanga is less than 70 km from the port of Mayumba.

• Binding Memorandum of Understanding (MoU) entered into with GeoDrill for up to US$4 million or 40,000 metres of drilling across the African portfolio which will allow the Company to pay up to 50% in scrip[34] .

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Dark Horse Resources Ltd (ASX:DHR) – DGR Interest 16.81% 385.7M Shares

• Focussed on gold and lithium in Argentina.

• Initial assay results from the extensive field exploration programme over the Santa Cruz Gold Projects reveal encouraging gold and silver results on several tenements with infill sampling at Cachi Prospects confirming gold-silver anomalism with further surface exploration work continuing to define drilling targets[35] .

• Visible gold identified in iron sulphide/oxide breccia at the Morena Project[36] .

• First phase drilling at Las Openas Gold Project targeting high grade gold silver and base epithermal veins discovered during surface mapping and sampling has been completed with high grade mineralised zones to moderate depths being confirmed. Recent rock chip samples and channel samples cut have further confirmed high-grade zones[37] .

• Work continues at Las Openas to define further targets for the next phase of drilling and to define the extent of further channel sampling[38] .

• Mapping at the Presagio Target identified 5 new zones of mineralization visible at surface with likely extension to depth, with visible gold and silver sulfosalts identified in rock chips, followed by the release of highly encouraging assay results[39] .

• Mapping and geophysical programmes have been completed over some of the mineralised Cachi targets providing drill targets, with recent assay results showing continuity of gold mineralisation within the project area[40] .

• Capital raising of $807,178 pursuant to a Non-Renounceable Entitlement Offer comprising shares and attaching options[41] .

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AusTin Mining (ASX:ANW) – DGR Interest 15.32% 362.2M Shares

• Further high-grade cobalt results from drilling at Mt Cobalt (QLD). Initial target zone 350m long and 25m wide open at depth[42] with a further 5 hole drilling programme completed in April targeting areas to the north and west of the previous drill programme[43] .

• August 2013 JORC resource estimate confirmed Taronga as a world class tin project. The details of the resource (79% indicated) can be viewed on the ASX or on the AusTin Mining website.

• Metallurgical flow sheet completed for Taronga (NSW) pre-feasibility study. Ore described as coarse grained, having simple metallurgy, and highly amenable to pre-concentration.

• High grade rock chip exploration results from the most recent exploration programme in the Emmaville/Torrington exploration licences[44] .

• Granville Tin Project (TAS) placed on care and maintenance following a strategic review conducted to investigate potential improvements to mining and processing, and to determine the best way for the Company to extract value from the asset[45] .

• Interim work programme being finalised for Taronga to facilitate an upgrade to the established resource before advancing to Stage 1 trial mining after the severe drought conditions ease[46] .

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Auburn Resources | 44.79% DGR Interest 17.3M Shares

• Continuing to develop and consolidate as a zinc-lead, nickel-copper-cobalt, copper-gold company exploring in QLD and NT, with highly prospective areas in the NT covered by recent EL applications which are going through due process in the NT.

• Key Iron Oxide Copper Gold (IOCG) and lead-zinc targets identified and secured in the Tanumbirini district of the Northern Territory47 – refer later section for details.

• Potential for world class copper gold discoveries at Mt Abbott, Calgoa and Marodian Projects and large sulphide nickel-cobalt-copper discoveries near Hawkwood48.

• Exploration targets defined for the Ban Ban Zinc Project.

• Planning well advanced for IPO and ASX listing (subject to market conditions) during late 2019/early 2020.

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Armour Uganda | DGR Interest 83.16% (AJQ 16.84%)

Project: Kanywataba Block | Area: 344km[2 ] | Prospective for: Oil and Gas Location: Albertine Graben, Uganda

Armour Uganda’s flagship project is the ‘The Kanywataba Block’ it is located in a rift basin within the Albertine Graben, within close proximity to the Total and CNOOC operations in the North.

Activities have included the below, and are ongoing:

• Reprocessing of existing 2D seismic data

• Geochemical surface soil gas sampling program

• 2D seismic programme

• Basin Analysis study

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DGR Global

NEW OPPORTUNITIES

Coolgarra Minerals | 100% DGR owned

• 5 Exploration Permits (EPMs) for gold , nickel , cobalt and antimony in North Qld (refer later section).

• First pass shallow drilling campaign on the Greenvale South project area result highlights include a gold intercept of 14 metres @ 1.67g/t and a cobalt-nickel intercept of 8 metres @ 0.16% cobalt and 0.74% nickel[49] .

Pinnacle Gold | 94% DGR owned

• 5 EPMs for gold near Charters Towers (refer later section).

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Footnotes:
1DGR ASX Release 22/8, 25/10/17, 26/9/18	2AJQ ASX Release 14/9/17
3SOLG LSE & TSX Releases 20/11/18, 3/1/19	4SOLG LSE & TSX Releases 24/2, 25/5/18
5SOLG LSE & TSX Releases 20/03, 7/6, 18/7/18	6SOLG LSE & TSX Releases 2/1, 7/5/19
7SOLG LSE & TSX Release 19/7/19	8SOLG LSE & TSX Release 08/5/19
9SOLG LSE & TSX Release 09/5/19	10SOLG LSE & TSX Release 10/5/19
11SOLG LSE & TSX Releases 20/5, 28/6/19	12SOLG LSE & TSX Release 30/5/19
13SOLG LSE & TSX Releases 6/6, 21/6, 27/6, 19/9/19	14SOLG LSE & TSX Release 13/6/19
15SOLG LSE & TSX Release 26/3/19	16SOLG LSE & TSX Release 5/8/19
17SOLG LSE & TSE Release 29/7/19	18AJQ ASX Release 15/10/19
19AJQ ASX Release 29/3/19	20AJQ ASX Releases 21/1, 12/2/18
21AJQ ASX Releases 15/11, 21/12/18	22AJQ ASX Release 18/2/19
23AJQ ASX Release 19/9/17	24AJQ ASX Releases 30/5, 18/7/19
25AJQ ASX Releases 23/9, 2/10/19	26AJQ Release 22/10/19
27AJQ ASX Releases 30/9, 3/10/19	28IRR LSE:AIM Releases 2/5, 16/8, 24/9/18
29IRR LSE:AIM Releases 14/2, 23/4, 06/6, 20/6, 25/6, 23/7/19	30IRR LSE:AIM Releases 21/5, 20/8, 26/9/19
31IRR LSE:AIM Release 12/6/19	32IRR LSE:AIM Releases 1/7,19/9/19
33IRR LSE:AIM Release 19/9/19	34IRR LSE:AIM Release 8/8/19
35DHR ASX Releases 16/1, 5/3/19	36DHR ASX Release 16/1/19
37DHR ASX Releases 2/4, 1/5, 27/5, 26/7,20/8, 20/9/19	38DHR ASX Release 18/10/19
39DHR ASX Releases 20/8, 26/9, 10/10/19	40DHR ASX Releases 27/5, 30/7/19
41DHR ASX Releases 1/8, 12/9/19	42ANW ASX Releases 23/1, 16/2/18
43ANW ASX Releases 21/3, 27/3, 10/05/19	44ANW ASX Release 11/9/19
45ANW ASX Releases 20/9, 11/10/19	46ANW Releases 20/9/19
47DGR ASX Release 20/5/19	48DGR ASX Releases 3/7, 5/7/17, 8/11/18
49DGR ASX Release 8/2/19

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DGR GLOBAL CREATES RESOURCE COMPANIES

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 favourable 20-year demand, growth and price outlook. DGR searches for geological terranes with:

• A demonstrated strong endowment for that commodity in an historical under-explored region

• Opportunity for the application of recently developed exploration and metallurgical techniques to assist in the definition of economic resources

• Jurisdictions with improving socio-economic and regulatory frameworks

• Extensive available tenures

• Existing data sets which provide the basis for novel reinterpretation

DGR Global provides initial seed funding and management support to secure these 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/TSX listed SolGold and AIM listed IronRidge Resources and ASX listed AusTin Mining, Dark Horse Resources and Armour Energy and unlisted Auburn Resources are expected over the coming years.

The previous resource exploration and funding activities of DGR’s key personnel underscore the opportunities provided by the DGR business model. DGR Global does not generally purchase its exploration projects. DGR’s in house generative capabilities gives the Company a strong competitive edge. DGR’s focus on provincial tenement positions covering entire sedimentary basins or structural blocks where possible, delivers capital, government and major resource corporate attention.

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 30 September 2019, DGR Global holds:

• 19.01% Armour Energy Ltd (ASX : AJQ),

• 11.06% SolGold Plc (LSE/TSX : SOLG),

• 21.94% IronRidge Resources Ltd (LSE : IRR),

• 15.32% Aus Tin Mining Ltd (ASX : ANW),

• 16.81% Dark Horse Resources Ltd (ASX : DHR).

*See diagrams over page

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Auburn Resources | 44.79% DGR Interest 17.3M Shares

COPPER-GOLD-ZINC-NICKEL-COBALT

Auburn Resources is focused on the discovery and development of copper, gold, nickel, cobalt and zinc deposits in Eastern Queensland and the Northern Territory.

• Significant iron oxide copper gold (IOCG) indicators at Tanumbirini West.

• Large pyritic dolomitic sub-basin highly anomalous in lead (prospective for lead zinc deposits in the broader McArthur Basin) at Tanumbirini East.

• The Northern Territory Government has granted all 12 Exploration Licence Applications at the Victoria River Project (Zinc, Lead) and the Tanumbirini Project Area west of the McArthur River Zinc Mine.

• The Tanumbirini Project Area strongly supported by Northern Australia Geochemical Survey data base and Airborne Electromagnetic Surveys (both Geoscience Australia databases).

Figure 1: Location of the Tanumbirini and Victoria River Projects in the Northern Territory.

Figure 2: The Tanumbirini Project Area – traversed by the sealed Carpentaria Highway and the gas pipeline to the McArthur River Mine

The Northern Territory Government has now granted 11 of the 12 Exploration Licences that make up the Tanumbirini and Victoria River Projects to Pennant Resources Pty Ltd, a wholly owned subsidiary of Auburn Resources Limited, 47% owned by DGR Global ( see Figures 1 and 2 ).

Tennant Creek and Mt Isa are the preeminent mineral resource hubs for the Northern Territory and Queensland. The region between these two hubs is a vast prospective frontier covered by a thin veneer of sediments. Geoscience Australia (GA), as part of the Federal Government’s “Exploring for the Future” program, undertook an extensive soil sampling survey in collaboration with the Northern Territory Geological Survey and the Geological Survey of Queensland.

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Catchment outlet sediment samples were collected at 776 sites (including duplicates) and analyzed for elemental composition using three different analytical techniques1. The black dots in Figure 3 show all the sample points. Subsequently, GA undertook a wide spaced airborne Electro-Magnetic survey over the whole area, principally to define sulphide mineralization targets.

In mid-2018 GA started the public release of the Northern Australian Geochemical Survey2, and DGR Global geoscientists started to interrogate the massive data sets. With a primary interest in base metals, DGR focused on the total lead assays rather than other base metals such as copper and nickel, since lead is relatively insoluble, not moving far from its point of origin. Figure 3 shows the result of this data search. The total lead footprint at Tanumbirini is larger in area than that at Mt Isa to the east, and comparable in magnitude given that Tanumbirini is all under cover and Mt Isa is exposed and has been mined for approximately a century. Lead high values to 46.2 ppm characterize Mt Isa and 34 ppm characterizes the Tanumbirini area. Auburn Resources subsidiary Pennant Resources immediately lodged Exploration Licence applications over the area as shown ( see also Figure 2 ).

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Figure 3: Geoscience Australia overbank fine stream sediment sample points, with regional lead anomalism (Total Lead > 25 ppm by ICP-MS) shown in dark pink

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Figure 4: Lead (light green) and Copper (light blue) anomalism by MMI (partial leach) geochemistry

More detailed investigation of the NAGS data sets further confirmed the large area of base metal anomalism at Tanumbirini. Examining the data sets for lead and copper by Mobile Metal Ion™ (partial leach) geochemistry indicates an even larger anomalous footprint at Tanumbirini, with a significant indication of copper on the western section of the project area ( see Figures 4 and 5 ). Highest copper in the unpolluted Tanumbirini area is 4310 ppb by MMI™. This compares to a high of 11,600 ppb in the polluted tailings creek at Mt Isa, but otherwise the Mt Isa area high is 2970 ppb. Copper in a blue copper sulphate stained polluted creek at the Mt Oxide mine is off scale at >20,000 ppb but is otherwise 2 – 3,000 ppb in the Mt Oxide Gunpowder copper district.

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IOCG Targets

Coinciding with the timing of DGR’s research, Greatland Gold plc announced its Havieron IOCG discovery at the Paterson Ranges about 40 kms east of Telfer. Noting that Greatland had previously announced that anomalous rare earths in soils were an exploration tool for IOCG deposits, DGR went back to the NAGS data sets to search for rare earths. As shown in Figure 5 (below), rare earths point to a massive IOCG target zone on the western section at Tanumbirini (yet to be supported by gravity and magnetic data).

Figure 5: Copper, gold, uranium, rare earths and molybdenum association at Tanumbirini– indicative of large IOCG (Iron Oxide Copper

Gold) targets under relatively shallow cover

DGR therefore considers that in the Tanumbirini Project Area the company has secured two new potential mineral fields:

1. A pyritic dolomitic shale sub basin of the broader McArthur Basin prospective for lead zinc deposits at Tanumbirini East; and

2. An iron oxide copper gold target area at Tanumbirini West.

Figure 6 is a composite diagram incorporating mapped fault structures and EM supported geology on a magnetic image, indicating the interpretation of a fault bounded pyritic dolomitic shale sub basin prospective for lead zinc deposits on the east, and iron oxide copper gold (IOCG) targets on the west. The stand-out feature through Tanumbirini is an 80 km long magnetic terrane boundary (shaded in purple), and which DGR considers is the source of the copper-gold-uranium-molybdenum-rare earth anomalism. The soil geochemistry and EM data from the Geoscience Australia surveys adds to an already extensive knowledge of surface geology and faults in the area, as well as available detailed magnetic data and a general understanding of the local stratigraphy.

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Figure 6: Geological Interpretation on Magnetic Image – a fault bounded pyritic dolomitic shale sub basin on the east (similar to Mt Isa in NW Qld), and IOCG targets on the west – similar but shallower than Olympic Dam or Havieron.

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The following Figure 7 shows a conceptual SW – NE geological cross-section of the Tanumbirini Project Area.

Figure 7: Conceptual SW – NE Geological Cross-Section of the Tanumbirini Project Area

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Pinnacle Gold Pty Ltd

As shown in Figure 9 , Pinnacle Gold holds substantial and extensive gold exploration tenements south of Charters Towers, Qld. Most of the area is soil covered, with previous exploration efforts by earlier explorers largely confined to areas of outcrop and focused on mapping and sampling known workings. Only two areas have been drilled.

No systematic geochemical survey has ever been undertaken, yet the area clearly lies on potentially mineralising structures (Charters Towers – Black Jack – Mt Leyshon). It would appear that earlier explorers have been distracted by small high-grade gold bearing quartz veins with no size potential. Significant steam anomalism (see Figure 10 ) may not all be due to “noise” from small veins. After reviewing the historical exploration programs Pinnacle considers it time to reconsider the exploration strategy for this mostly soil covered area. Looking for large targets, Pinnacle has undertaken a field program of low gold detection limit soil lines on a grid pattern with infill gridding of any elevated results. Initial drilling programmes on 2 of the EPMs were undertaken late in the 2018 quarter, with assay results pending.

Figure 9: EPM Locations Queensland

Figure 10: overview of gold stream sediment geochemistry south of Charters Towers (compiled from historical data)

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Coolgarra Minerals Pty Ltd

Coolgarra Minerals holds 5 granted EPMs south of Greenvale, Qld and one EPM west of Theodore in Central Queensland as shown in Figure 11 .

Figure 11: Coolgarra Tenement Map

As announced to the ASX on 9 February 2017, Coolgarra identified several strong gold and cobalt targets during field work. The initial exploration program was focused around several historical small-scale mining areas, in particular Wally’s Hope and Janelle’s Hope Prospects in the southern section of EPM 19270, and what is recorded as a long (several kilometres) stratabound gold occurrence in the northern section now referred to as Wade’s Prospect.

Figure 12 is a satellite image of the southern section of EPM 19270 showing the soil grid lines, where each red diamond indicates a soil sample taken and assayed. A macro view of the soil gold concentrations is evident by plotting the soil gold contours at >25 ppb (parts per billion), > 50 ppb, and > 100 ppb.

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A highlight was a one metre wide surface exposure of non-veined sediments on the western side of the Wally’s Hope Prospect assaying 40.3 g/t gold ( see Figure 13 ). The Wally’s Hope Prospect clearly presents several walk-up gold drill targets which are accessible from existing tracks on the EPM. As evident from the underlying geology, the gold would seem to occur mainly as disseminations in calcareous sediments, and over several kilometres. The potential therefore exists for a large-scale gold discovery.

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Figure 14 shows an overview of the northern section of EPM 19270 on magnetic imagery. Each red diamond indicates a soil sample taken and assayed. Stream sediments were also taken for cobalt, and several rock chip samples are shown by the blue dots. Coolgarra Minerals has been granted a new exploration permit over the northern extension of the Wade’s Prospect where historical data suggests the gold mineralization continues stratabound for several kilometres beyond the recent exploration.

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As revealed at the Wally’s Hope Prospect much further south, the soil sampling indicates that the gold occurs as disseminations within calcareous sediments. The highest gold in soil recorded was 1.1 ppm, or 1.1 g/t. The company considers this to indicate “Carlin” style potential.

Quartz veins did not return gold values over 0.3 g/t. Wade’s Prospect has equally demonstrated that it is highly prospective for cobalt. The soil sampling revealed extensive cobalt mineralization, with a maximum soil result of 0.13% Co.

To the north of the cobalt mineralized area revealed by the soil sampling, rock chip sampling of absolite float assayed 1.1% Co, 0.13% Cu and 0.54% Ni.

As with the Wally’s Hope Prospect further south on EPM 19270, Wade’s Prospect clearly presents several walk-up drill targets for gold and cobalt. During the quarter an initial reverse circulation drilling program was undertaken at Wally’s Hope and Wade’s Prospects on EPM 19270, and samples have been dispatched for assay. A stream sediment survey was also conducted on EPMs 26265 and 26382.

Coolgarra Minerals also holds EPM 26386 Roebourne in Central Queensland ( Figure 15 ). The Roebourne Project is west of Theodore and 60 km north of Taroom. Mafic rocks (mainly olivine gabbro) have intruded the Surat Basin, and have subsequently been deeply weathered within a lateritic plateau. Large scale very strong cobalt stream sediment anomalies appear to be sourced from the garnet altered contact between the intrusives and some of the iron rich sediments.

Figure 15: Roebourne Project

Previous exploration work was mainly for iron ore, but high cobalt assays to 1.2% were recorded from rock specimens away from the main cobalt area, which is on the lateritic plateau. A prospecting program has been undertaken on the Roebourne EPM involving completion of the stream sediment survey around the ultrabasic contacts, and more particularly, the sourcing of the very strong cobalt (>800 ppm in stream sediments) already known.

The Greenvale South project consists of four granted exploration permits and one recent application, covering a belt of gold, antimony, nickel cobalt copper mineralization extending south from Australian Mines +$1 Billion SCONI development which has received Queensland Government “Prescribed Project” status.

To date Coolgarra has conducted surface geochemistry over selected parts of the southern portion of the project area, partially outlining targets at Wally’s Hope, Janelle’s Hope and the Wade prospect. Most areas

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have poor to no outcrop. A small mobile drilling rig was used to drill traverses of shallow holes over the peak geochemical targets at Wally’s and Wade, as well as a traverse designed to locate ultrabasic host rocks under alluvium north of Wade.

At Wally’s Hope, the shallow drilling traverses intercepted metasediments and small bodies of granite with fine veinlets and in the deepest holes, minor pyrite and arsenopyrite. The northern traverse successfully intercepted the bedrock gold between 0m and 14m in PAN3. The southern traverse over the main target intercepted low grades. A traverse over the central portion of the main Wally’s Hope zone was abandoned as the granite bodies proved too difficult for the small rig to penetrate. The completed drilling may have missed the central line of bedrock gold mineralization.

Figure 17: Drilling Hole PAN 22 – Intercepted 0.16% cobalt and 0.74% nickel over 6 metres

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Figure 18: Wally’s Hope Drilling Plan on Gold Geochemistry Figure 19: Wally’s Hope North Drilling Traverse

At Wade, the drilling traverse tested an unclosed zoned cobalt nickel gold soil anomaly with 7 holes. The holes intersected a gently dipping structure containing zoned nickel cobalt mineralization (with associated anomalous gold platinum and palladium). The distribution of the mineralization, and the precious metal association suggests that this deposit is the enriched oxidized portion of a sulphide lode occupied by an unusually chrome rich gabbro.

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Figure 20: Wade Drilling Plan on geochemical targets Figure 21: Wade Drilling Section with geological interpretation

Coolgarra is encouraged by both the gold and cobalt nickel results from this program and intends to extend its activities into newer areas of the Greenvale South project.

It is considered noteworthy that the highest cobalt grades occur in a manganese oxide enriched body within the regional weathering profile. This is also seen at Greenvale mine and Lucknow just outside the Coolgarra project area. Floaters of absolite, a manganese oxide with associated high grade cobalt (1% Co) nickel occur in the Wade streams.

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QUARTERLY ACTIVITIES REPORT

FOR THE PERIOD ENDED 30 SEPTEMBER 2019

Internet Address

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

Company Secretary Karl Schlobohm

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 an email to info@dgrglobal.com.au with the subject line “email alerts” or register your details on our website by clicking “Contact Us” and entering your details.

Group Operations Manager John Bierling

Principal Exploration Geologist Russell Dow

Issued Capital

At 30 September, DGR Global Ltd had the following securities on issue:

613,181,877 ordinary shares

Registered Office and Head Office

DGR Global Limited Level 27, 111 Eagle Street Brisbane QLD 4000 Phone: +61 7 3303 0680 Fax: +61 7 3303 0681 Website: www.dgrglobal.com.au

Australian Stock Exchange (“ASX”)

ASX Code: DGR (Ordinary shares) Australian Business Number ABN 67 052 354 837

50 million (unlisted) convertible notes maturing 29/9/20 19.375 million (unlisted) 20 cent options expiring 8/11/20 17.5 million (unlisted) 20 cent options expiring 28/11/20 5.2 million (unlisted) 20 cent options expiring12/02/21

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.

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

Competent Persons Statement

The information in this report that relates to Exploration Results and Exploration Targets 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 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 is he undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr Mather has consented in writing to the inclusion in this report of the matters based on information in the form and context in which it appears.

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			Appendix	Appendix
30‐September‐2019
		DGR Global‐ Group Mining and Exploration Tenements
Tenement		Type		Principal Holder	Location
ML 3678		Mining Lease		DGR Global Limited	Qld, Australia
ML 3741		"		"	Qld, Australia
ML 3749		"		"	Qld, Australia
ML 3752		"		"	Qld, Australia
ML 3753		"		"	Qld, Australia
ML 50059		"		"	Qld, Australia
ML 50099		"		"	Qld, Australia
ML 50148		"		"	Qld, Australia
ML 50291		"		"	Qld, Australia
EPM 26838		Exploration Permit for Minerals		Albatross Bauxite Pty Ltd¹	Qld, Australia
EPM 26839		"		"	Qld, Australia
EPM 19379		Exploration Permit for Minerals		Auburn Resources Limited²	Qld, Australia
EPM 25948		"		"	Qld, Australia
EPM 26013		"		"	Qld, Australia
EPM 26245		"		"	Qld, Australia
EPM 26248		"		"	Qld, Australia
EPM 26526		"		"	Qld, Australia
EPM 26529		"		"	Qld, Australia
EPM 26758		"		"	Qld, Australia
EPM 27217 EPM 26523 EPM 18534		"		"	Qld, Australia
		"		"	Qld, Australia
		"		"	Qld, Australia
EPM 15134		Exploration Permit for Minerals		Barlyne Mining Pty Ltd³	Qld, Australia
EPM 18451		"		"	Qld, Australia
EPM 19087		"		"	Qld, Australia
EPM 26274		"		"	Qld, Australia
EPM 26607		"		"	Qld, Australia
EPM 26796		Exploration Permit for Minerals		Pennant Resources Pty Ltd⁴	Qld, Australia
EPM 31980		"		"	NT, Australia
EPM 31981		"		"	NT, Australia
EPM 32002		"		"	NT, Australia
EPM 32006		"		"	NT, Australia
EPM 32008		"		"	NT, Australia
EPM 32009		"		"	NT, Australia
EPM 32010		"		"	NT, Australia
EPM 32011		"		"	NT, Australia
EPM 32012		"		"	NT, Australia
EPM 32013		"		"	NT, Australia
EPM 32014		"		"	NT, Australia
EPM 32039		"		"	NT, Australia
EPM 19270		Exploration Permit for Minerals		Coolgarra Minerals Pty Ltd⁵	Qld, Australia
EPM 26265		"		"	Qld, Australia
EPM 26355		"		"	Qld, Australia
EPM 26382		"		"	Qld, Australia
EPM 26386		"		"	Qld, Australia
EPM 27061		"		"	Qld, Australia
EPM 25525		Exploration Permit for Minerals		Pinnacle Gold Pty Ltd⁶	Qld, Australia
EPM 25963		"		"	Qld, Australia
EPM 25964		"		"	Qld, Australia
EPM 25965		"		"	Qld, Australia
EPM 25966		"		"	Qld, Australia
Notes
1	10	0% owned by DGR Global
2	45	% owned by DGR Global
3	10	0% owned by Auburn Resources
4	10	0% owned by Auburn Resources
5	10	0% owned by DGR Global
6	94	% owned by DGR Global
Legend
		Granted or acquired during thequarter
	C	hange in Ownership %(eg: Farm‐in) or transfer during thequarter
	S	urrendered, Expired or Sale/Disposal during thequarter

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DGR Global

27/111 Eagle Street, Brisbane. QLD 4000 07 3303 0680 www.dgrglobal.com.au info@dgrglobal.com.au

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