DGR GLOBAL LIMITED — Interim / Quarterly Report 2020

Oct 13, 2020

==> picture [205 x 70] intentionally omitted <==

QUARTERLY REPORT July - September 2020

==> picture [198 x 69] intentionally omitted <==

==> picture [493 x 40] intentionally omitted <==

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 historically under-explored region

• Opportunity for the application of newly 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 innovative 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 crystallised 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 2020, DGR Global holds:

• 13.92% of Armour Energy Ltd (ASX : AJQ),

• 9.85% of SolGold Plc (LSE/TSX : SOLG),

• 17.79% of IronRidge Resources Ltd (LSE : IRR),

• 10.53% of AusTin Mining Ltd (ASX : ANW),

• 11.13% of New Peak Metals Ltd (ASX : NPM).

==> picture [504 x 68] intentionally omitted <==

1

Figure 1 - DGR Global Group Corporate Structure

==> picture [497 x 324] intentionally omitted <==

Figure 2 - DGR Global Blueprint

==> picture [504 x 261] intentionally omitted <==

2

DGR GLOBAL MEDIA ROUND UP

QUARTER 3: ECONOMIC RECOVERY THROUGH THE RESURGENCE OF MINING AND METALS

In September 2020, it was announced that Australia had officially entered its first recession in 30 years. The technical definition of a recession used by economists is two consecutive quarters (two, 3-month periods) when an economy declines.

While the Australian economy works to rebuild after the economic fallout from the Covid-19 global pandemic, we have taken the opportunity in this quarterly report to confirm the role of mining and metals in rebuilding the Australian economy.

In the early stages of Covid-19, there were interruptions to global markets, and various sectors of the Australian market were collapsing; meanwhile the mining and resources industry continued to perform at almost full production. Metals such as gold, silver and copper saw a resurgence in terms of price, met with increases in demand.

When we look ahead at the road to recovery for Australia, there are short term resolutions; such as financial injections from the government into the economy including Job Keeper and Job Seeker, coupled with the lowering of interest rates. However, until international travel borders re-open and a vaccine has been developed to act against Covid19, we also need to look at sectors within the Australian economy that are sustainable in the medium and long terms and that will support job growth.

The mining and resources sector makes up over “8 per cent of Australia’s economy and according to the Australian National Resources Statement; it’s economic impact extends to jobs, higher wages, investment and tax revenues to Australians”. [1.]

This report also notes that impact that the resources sector directly benefits workers. “Since 2005, direct employment in the resources sector has more than doubled from 104 000 to 255 800. When mining services are included, the broader sector accounts for more than 1 million employees”. Due to the rich amount of resources located within Australia; this provided many local employment opportunities, with the benefits of the sector are increasingly felt by all Australians. It is important to note also, that the resources sector invests in all capabilities of the Australian workforce. An example of this positive ripple effect in Australia’s history was in 2017, where “Australia broke world records for the longest run of uninterrupted growth in the developed world. The resources sector played a key role in achieving this, particularly during the general economic downturn in the global financial crisis of 2007–10.” [1.]

The Australian Government’s September 2020 Resources and Energy Quarterly notes that in the outlook period, “resource and energy commodity exports are likely to remain a major source of support to the Australian economy as it recovers from the largest global contraction since World War II. In line with IMF forecasts, we assume the world economy contracts by about 5 per cent in 2020, but grows by 5.4 per cent in 2021”. [ 2.]

DGR Global has often referenced the future use of commodities, and the 2020 Australian Resources Statement confirms this, stating “Global demand for resources is projected to grow at a steady rate over coming decades, driven by growing populations and economic development in emerging economies. Demand will increase in both traditional commodities, such as coal, iron ore, liquefied natural gas (LNG), base metals, such as copper and nickel, and emerging minerals, like lithium and rare earths which have many applications for the digital age.” [ 2.]

The resources industry supports numerous facets of the economy including transportation, manufacturing, technology, construction, food and energy supply. Each of these areas require various commodities to operate, covering gold and coper, lithium, nickel, zinc, oil and gas, of which the DGR Global portfolio allows investors access to through significant holdings in five listed companies.

Footnotes: 1. https://www.industry.gov.au/data-and-publications/australias-national-resources-statement/the-australian-resources-sector-significanceandopportunities#:~:text=Together%20with%20mining%20services%2C%20the,even%20higher%20on%20other%20measures%3A&text=Since%2020 05%2C%20the%20resources%20sector,total%20investment%20over%20this%20period. 2. https://publications.industry.gov.au/publications/resourcesandenergyquarterlyseptember2020/index.html#:~:text=In%20the%20outlook%20p eriod%2C%20resource,contraction%20since%20World%20War%20II.

3

QUARTERLY REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2020

The quarter has again been dominated by the challenges presented in the context of the global pandemic, however DGR and its related entities have continued to remain active and continued to advance projects within their respective portfolios as permitted by prevailing conditions. Highlights for each entity for the current quarter follow.

DGR Global [ASX:DGR]

• COVID-19 has temporarily impacted DGR’s capacity to carry out its normal business, however DGR has implemented a number of financial and operational strategies to minimise risk and endeavour to maintain shareholder value during this challenging period and to be appropriately prepared to resume exploration activities as soon as conditions permit.

• The Company continues to focus on new project generation and value creation 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 $A10m 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] .

• HSEC 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 sustainable and safe operations.

Share Price Discount To Net Tangible Assets to 30 September 20

==> picture [499 x 284] intentionally omitted <==

----- Start of picture text -----

60%
54%
55%
53%
50%
50%
45% 47%
45% Percentage
Average
40%
35%
30%
Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20
----- End of picture text -----

4

==> picture [92 x 34] intentionally omitted <==

SolGold Plc (LSE and TSX: SOLG) – DGR Interest 9.85% 204.2M Shares

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

• Exploration activities at a number of SolGold’s 72 wholly owned Mineral Concessions in Ecuador, that were temporarily suspended of due to COVID-19 in late March, have recommenced in June, with strict COVID-19 protocols in place[3] .

• SolGold remains the dominant explorer in the country.

• A second cluster of large, fertile porphyry systems discovered at the Rio Amarillo Project. An enhanced heli-mag survey identified 4 high priority porphyry targets with recent field work upgrading the Varela target. Drill rig mobilisation is planned for late October[4] .

• SolGold continues to progress with work on the Pre-Feasibility Study ( PFS ), which is well advanced, although the completion timetable has been impacted by COVID restrictions[5] .

• • Net Smelter Returns ( NSR ) Financing Agreement of $US100m with upscale to $US150m from Franco-Nevada completed and repayment of $US15m under a Bridge Loan Agreement[6] .

• Fundraising completed comprising placement, conditional subscription, and retail offer raising gross proceeds of approximately $US33.6m[7] . A subsequent further subscription by certain institutional and private investors raised approximately $US6.1m[8] .

• Commencement of offer to acquire Cornerstone Capital Resources Inc.[9] .

• Drilling commenced at La Hueca to test large copper gold porphyry target that is exposed at surface[10] .

• Drilling commenced at Cerro Qiroz target at the Blanca Project in Northern Ecuador[11] .

• Drilling at Porvenir Project that commenced in September discovers a new, highly mineralised copper gold porphyry system with the first drill hole continuing in mineralised porphyry system at over 600 metres depth[12] .

• Appointment of Mrs Elodie Grant Goodey to the Board of Directors as Non-Executive Director and Mr Liam Twigger as Chairperson[13] .

==> picture [499 x 38] intentionally omitted <==

5

==> picture [78 x 33] intentionally omitted <==

Armour Energy Ltd (ASX:AJQ) – DGR Interest 13.92% 150.0M 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.

• Following extensive review of potential oil exploration, appraisal and development acreage, new material oil reserves and resources added to the Company’s portfolio[14] .

• • 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[15] .

• Force majeure conditions currently in operation with the 2D seismic programme planned to recommence once conditions are favourable and travel restrictions are lifted[16] .

• Acquisition of Oilex’s Cooper Eromanga Basin assets[17] .

• Agreement entered into with Australia Pacific LNG (APLNG) for the sale of Armour’s interest in Petroleum Lease 1084 (PL 1084) known as the Murrungama Block for $A4.0m[18] .

• Capital raising through Private Placement and Accelerated Non-Renounceable Entitlement Offer raising in excess of $A8.0m[19] .

• Addition of Block CO2019-E (PELA 677) (“Block C”) permit in the northern flank of the Cooper Basin in South Australia[20] .

• Acceleration of contingent farm-in payments from Santos with immediate payment of $A6.0m replacing future contingent permit payments[21] .

• Term sheet for the sale of wholly owned subsidiary Ripple Resources to public, unlisted Auburn Resources Ltd[22] .

• Commencement of the Surat 2020 work programme at the 100% owned and operated Kincora Gas Project[23] .

• Capital raising programme to raise a total of $A15m well supported[24] .

6

==> picture [108 x 26] intentionally omitted <==

IronRidge Resources Ltd (LSE:IRR) – DGR Interest 17.79% 73.0M 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.

• Retention of highly prospective hematite rich iron targets in Tchibanga and Belinga Sud licence areas in Gabon (total tenure 5,400km[2] ).

• Second phase drill programme commenced and subsequently increased to approximately 15,000 metres of combined Air Core (AC) drilling and Reverse Circulation (RC) drilling along strike from previously reported high-grade drill intersections over the Ehuasso target, with an additional 6,000 metres of reconnaissance AC drilling over the Ebilassokro target within the Zaranou Gold Project in the Ivory Coast Project area[25] .

• Historical data secured from previous explorers of the Zaranou Gold Project confirms a significant, drill ready target at Yakasse[26] .

• Visible gold in RC drilling and multiple additional high grade results at the Zaranou Gold Project[27] .

• Exceptional high grade drilling results at the Ebilassokro target and the Ehuasso target withing the Zaranou Gold project[28] .

• Accepted as a member of the European Battery Alliance (EBA250)[29] .

• Third phase drilling programme commenced at the Zaranou Gold Project with a total of approximately 50,000 metres of combined Air Core (AC) and Reverse Circulation (RC) drilling planned[30] .

• Binding agreement for the divestment of non-core May Queen Gold project to public, unlisted Australasian Gold Ltd[31] .

7

==> picture [112 x 36] intentionally omitted <==

New Peak Metals Ltd (ASX:NPM) – DGR Interest 13.92% 485.7M Shares

• Focused on exploring for alternative world class gold deposits in multiple, diverse jurisdictions including Argentina and Finland as well as other precious and base metals project opportunities.

• Final obligations first year obligations to earn 25% equity in the Las Openas Gold Project completed[32] .

• Execution of Permit Purchase Agreements with Sotkamo Silver AB to acquire 100% interest in 7 gold exploration permits in the Tampere Gold region of Finland and 7 tungsten exploration permits in the Bergslagen Tungsten Project in Sweden[33] .

• Share Purchase Plan (SPP) closes exceeds target, raising a total of $A1.532m[34] .

• Further private placement of $A0.34m completed[35] .

• First phase drilling programme for the Tampere Gold project in Finland designed with drilling planned to commence during the final calendar quarter of 2020[36] .

• Binding term sheets executed to earn a 75% interest in the Cap Burn Gold project and acquire 100% interest in the Rock and Pillar, Raggedy Range and Filly Burn Gold projects in Otago, New Zealand[37] .

• Maiden drilling programme at the Cachi Gold project in Argentina planned to commence in December 2020[38] .

==> picture [102 x 46] intentionally omitted <==

AusTin Mining (ASX:ANW) – DGR Interest 10.53% 362.2M Shares

• Focussing on minerals critical for future electrification including tin, copper, cobalt and nickel.

• 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.

• Non-binding term sheet signed with Lachlan Copper for a farm-in over three exploration licences prospective for copper and gold located in the Lachlan Fold Belt in NSW[39] .

• Binding term sheet to acquire 100% interest in the Ashford Coking Coal project from Laneway Resources Ltd in northern NSW[40] .

8

==> picture [93 x 31] intentionally omitted <==

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 several highly prospective areas in the NT.

• Key Iron Oxide Copper Gold (IOCG) and lead-zinc targets identified and secured in the Tanumbirini district of the Northern Territory[41] – refer later section for further details.

• Potential for major copper gold discoveries at Mt Abbott, Calgoa and Marodian Projects and large sulphide nickel-cobalt-copper discoveries near Hawkwood[42] .

• Exploration targets defined for zinc at the Ban Ban Project.

• Successful Collaborative Exploration Initiative (CEI) Grant application for $85k funding a ground based Moving Loop Electromagnetic (MLEM) survey at the Hawkwood Project[43] .

• Term sheet executed with Armour Energy Ltd for the 100% acquisition of Ripple Resources Pty Ltd[44] .

• Planning well advanced for ASX listing (subject to market conditions) in 2020.

==> picture [498 x 37] intentionally omitted <==

9

==> picture [66 x 31] intentionally omitted <==

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.

Within the block there are multiple developed (untested) on-trend structural traps (3-way and 4- way dip closures) and multiple untested stratigraphic traps.

The Kingfisher oil discovery (40km NE of Kanywataba) oil seeps confirm local working petroleum system.

Force majeure conditions are currently in operation as a result of wet weather and the COVID-19 pandemic. Activities will resume once conditions become favourable and travel restrictions are lifted.

Activities have included the following:

• Reprocessing of existing 2D seismic data

• Geochemical surface soil gas sampling program

• 2D seismic programme

• Basin Analysis study

==> picture [462 x 261] intentionally omitted <==

==> picture [498 x 37] intentionally omitted <==

10

==> picture [124 x 43] intentionally omitted <==

NEW OPPORTUNITIES

Coolgarra Minerals | 100% DGR owned

• 6 Exploration Permits (EPMs) for gold , nickel , cobalt and antimony in North Qld.

• No exploration activities were undertaken in the current quarter.

Pinnacle Gold | 94% DGR owned

• 6 EPMs for gold in Queensland .

• 2 MELs for gold and copper the Northern Territory .

• No exploration activities were undertaken in the current quarter.

Hartz Rare Earths | 100% DGR owned

• 2 MEL applications for uranium the Northern Territory .

• No exploration activities were undertaken in the current quarter.

11

Footnotes

1DGR ASX Releases 22/8, 25/10/17, 26/9/18 2AJQ ASX Release 14/9/17 3SOLG LSE & TSX Releases 25/3, 22/06/20 4SOLG LSE & TSX Releases 13/2, 10/7, 8/10/20 5SOLG LSE & TSX Releases 11/3, 30/9/20 6SOLG LSE & TSX Releases 11/5, 14/9/20 7SOLG LSE & TSX Releases 4/6, 5/6/20 8SOLG LSE & TSX Release 8/6/20 9SOLG LSE & TSX Release 30/6/20 10SOLG LSE & TSX Release 13/8/20 11SOLG LSE & TSX Release 6/10/20 12SOLG LSE & TSX Releases 16/9, 1/10, 5/10/20 13SOLG LSE & TSX Releases 17/7, 5/8, 4/9/20 14AJQ ASX Release 18/2/20 15AJQ ASX Release 19/9/17 16AJQ ASX Releases 28/10, 11/12/19, 15/6/20 17AJQ ASX Releases 28/5, 15/6, 15/9/20 18AJQ ASX Releases 18/6, 11/8, 20/8/20 19AJQ ASX Releases15/6, 19/6, 10/7/20 20AJQ ASX Release 1/7/20 21AJQ ASX Release 27/7/20 22AJQ ASX Releases 18/8, 20/8/20 23AJQ ASX Release 10/9/20 24AJQ ASX Release 18/9/20 25IRR LSE:AIM Releases 28/4, 2/7, 9/7/20 26IRR LSE:AIM Release 2/7/20 27IRR LSE:AIM Releases 23/7, 30/7, 5/8, 19/8/20 28IRR LSE:AIM Releases 5/8, 19/8, 17/9/20 29IRR LSE:AIM Release 27/8/20 30IRR LSE:AIM Release 9/9/20 31IRR LSE:AIM Release 14/9/20 32NPM ASX Release 8/7/20 33NPM ASX Releases 9/6, 7/7, 29/7, 17/8/20 34NPM ASX Release 20/7/20 35NPM ASX Release 31/8/20 36NPM ASX Release 3/9/20 37NPM ASX Release 7/9/20 38NPM ASX Release 9/10/20 39ANW ASX Release 16/4/20 40ANW ASX Release 31/7/20 41DGR ASX Release 20/5/19 42DGR ASX Releases 3/7, 5/7/17, 8/11/18 43DGR ASX Release 30/7/20 44DGR ASX Release 18/8/20

12

==> picture [93 x 30] intentionally omitted <==

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).

==> picture [487 x 233] intentionally omitted <==

==> picture [487 x 18] intentionally omitted <==

----- Start of picture text -----

[Figure 1] [Figure 2]
----- End of picture text -----

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.

Catchment outlet sediment samples were collected at 776 sites (including duplicates) and analysed for elemental composition using three different analytical techniques1. The black dots in Figure 3 show all the

13

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 ).

==> picture [487 x 176] intentionally omitted <==

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

==> picture [487 x 157] intentionally omitted <==

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.

==> picture [487 x 89] intentionally omitted <==

14

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.

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.

15

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

16

CORPORATE ACTIVITIES

DGR Global [ASX:DGR]

September Quarter Expenditure

Total exploration expenditure for DGR entities for which DGR is the appointed Operator (excluding Central Minerals Pty Ltd and Acapulco Mining Pty Ltd) during the quarter was $317,951.

Use of Funds

		Actual
	Prospectus	Mar-Jun Qtr 2020	Jul-Sep Qtr 2020	Balance
Sources of Funds
Cash on hand	871,000	871,000	-	-
Proceeds of Retail Entitlement Offer	5,671,932	5,671,932	-	-
Management fees	552,000	84,000	352,000	116,000
Proceeds form sale of Armour Notes	-	91,000	529,484	(620,484)
Interest on Armour Notes	273,000	94,555	92,564	85,881
Government Grants	-	30,000	135,000	(165,000)
Total Sources of Funds	7,367,932	6,842,487	1,109,048	(583,602)
Uses of Funds
Auburn Resources		(112,080)	(66,898)
Pinnancle Gold		(7,052)	(31,598)
Coolgarra Minerals Hartz Rare Earths	600,000	(8,615) (88)	(4,387) -	103,809
DGR Energy		-	(273)
DGR Exploration		(50,405)	(214,796)
SecurityDeposits	-	-	(185,556)	(185,556)
Interestpayable to Tribeca investmentpartners on Convertible notes	900,000	(299,178)	(299,178)	301,644
Uganda Oil Project	1,000,000	(154,225)	(204,563)	641,213
Corporate overheads	2,005,000	(363,932)	(1,041,869)	599,199
Additional investments in DGR investee companies	1,000,000	(862,498)	-	137,502
Costs of Retail Entitlement Offer	380,000	(356,047)	(53,651)	(29,698)
Creditors and accruals	1,095,000	(776,897)	(78,712)	239,391
WorkingCapital	387,932	-	-	387,932
Total Uses of Funds	7,367,932	(2,991,016)	(2,181,481)	2,195,436
Cash at Bank		3,851,471	2,779,038

Related Party Disclosures/Payments

During the quarter DGR made payments totalling $196,251 to associates or related parties being payment of director fees for the current quarter and previously unpaid director fees for the prior quarter.

17

QUARTERLY ACTIVITIES REPORT

FOR THE PERIOD ENDED 30 SEPTEMBER 2020

Directors

Nicholas Mather (Managing Director) Brian Moller Vincent Mascolo Ben Cleary

Company Secretary Karl Schlobohm

General Manager John Bierling

Internet Address

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.

Issued Capital

Principal Exploration Geologist Russell Dow

At 30 September 2020, DGR Global Ltd had the following securities on issue:

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

766,477,633 ordinary shares 50 million (unlisted) convertible notes maturing 6/10/20 16.875 million (unlisted) 20 cent options expiring 8/11/20 15.1875 million (unlisted) 20 cent options expiring 28/11/20 4.2 million (unlisted) 20 cent options expiring12/02/21 36.665803 million (unlisted) 8.4 cent options expiring 28/05/22

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.

18

			Appendix	Appendix
30-September-2020
		DGR Global- Group Mining and Exploration Tenements
Tenement		Type		Principal Holder	Location
ML 3678		MiningLease		DGR Global Limited1	Qld,Australia
ML 3741		"		"	Qld,Australia
ML 3749		"		"	Qld,Australia
ML 3752		"		"	Qld,Australia
ML 3753		"		"	Qld,Australia
ML 50059		Surrendered		"	Qld,Australia
ML 50099		Surrendered		"	Qld,Australia
ML 50148		MiningLease		"	Qld,Australia
ML 50291		"		"	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		"		"	Qld,Australia
EPM 26523		"		"	Qld,Australia
EPM 18534		"		"	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 27250		"		"	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 PtyLtd⁵	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
EPM 32031		"		"	NT,Australia
EPM 32032		"		"	NT,Australia
EPM 27289		"		"	Qld,Australia
Notes
1	100	% owned byDGR Global
2	45%	owned byDGR Global
3	100	% owned byAuburn Resources
4	100	% owned byAuburn Resources
5	100	% owned byDGR Global
6	94%	owned byDGR Global
Legend
	Gr	anted or acquired during thequarter
	Change in Ownership %(eg: Farm-in) or transfer during thequarter
	Surrendered, Expired or Sale/Disposal during thequarter

19

DGR Global

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

==> picture [151 x 52] intentionally omitted <==

20