D'Aguilar Gold Limited (ASX:DGR) Quarterly Report for Period Ending 31 March 2010

Brisbane, May 3, 2010 AEST (ABN Newswire) - D'Aguilar Gold (ASX:DGR) Quarterly Report for Period Ending 31 March 2010 with the following highlights and summary. The full quarterly report is available for download from the link at the end of this release.

Gold exploration subsidiary Central Minerals Pty Ltd (DGR 79%) sold to Solomon Gold Plc in exchange for 29.388 Million shares in Solomon.

D'Aguilar now holds 17% of Solomon, now an integrated diversified south west Pacific gold exploration and development company (see Solomon Gold website).

Solomon Gold has announced recent drill intersections at Rannes and Mt Perry in Queensland; target definition at its Lihir look-a-like Fauro Project (100% owned ), and on the Guadalcanal porphyry project with JV partner Newmont (earning 70%). Solomon repaid D'Aguilar AUD1Million cash and AUD1Million convertible notes for past exploration costs in Central Minerals.

AusNiCo Ltd now proceeding to an IPO and ASX listing following withdrawal from proposed merger with TSX Listed Lions Gate Metals Inc.

Navaho Gold Pty Ltd acquires Mingoola Gold Pty Ltd and appoints Mark Dugmore as CEO.

Navaho Gold Pty Ltd now proceeding to IPO and ASX Listing and exploring for "Carlin style" world class gold projects.

Barlyne Mining Pty Ltd receives high grade copper molybdenum results from historic drill core in the Calgoa Project area. Barlyne focuses on a diverse South East Queensland porphyry copper gold molybdenum portfolio.

Grant of Ridge Exploration iron bauxite and titanium tenements now pending following finalisation of native title access and cultural heritage agreements.

Mt Isa Metals Ltd (ASX:MET) acquisition of extensive interests, and five project areas in Burkina Faso, West Africa continues to provide the base for definition of greenstone belt hosted gold resources over 1m oz gold. Geological similarities to the Eastern Goldfields, Western Australia.

SUMMARY

During the quarter D'Aguilar advanced its objectives to become a diversified resource project generator and investment company. In particular the holdings in unlisted Central Minerals (gold) were sold to Solomon Gold Plc on 19 February 2010 giving D'Aguilar a substantial 17.05% interest in a diversified gold explorer with world class targets.

Mt Isa Metals (DGR 48% owned) continues to grow its project base in Burkina Faso, West Africa. A detailed review of global gold exploration theatres identified Burkina Faso as having a combination of stable Government, encouragement of exploration, strong gold mineralisation and well understood predictable geology, with strong similarities to the Western Australian Goldfields greenstone belts.

Mt Isa Metals under the guidance of CEO Peter Spiers has spent the last 6 months in exhaustive analysis of exploration opportunities in Burkina Faso and has now secured the rights to 11 tenements covering 5 project areas with a combined strike tenements length of 160 kms. Artisanal gold workings are registered over sites and cover significant targets. Mt Isa Metals is targeting resources in excess of 1m oz gold in Burkina Faso and has established an operation base in the Capital, Ouagadougou.

The company's planned merge of its subsidiary AusNiCo Limited with the Canadian listed Lions Gate Metals Inc (TSX:LGM) proceeded throughout the quarter. The filing statement was lodged with the TSX for approval on 18 March 2010 however market volatility in Lion Gate Metals Inc, a failure by North American interests to subscribe to the Lions Gate issue and access and tenure defects of Lions Gate Metals two flagship copper porphyries (The ROK and Poplar) and other conditions not being met led to termination of the merger.

D'Aguilar is now proceeding with an IPO and ASX listing of AusNiCo following strong indications of support from the investment community. The IPO and ASX Listing should give D'Aguilar a prospective AUD550,000 repayment of costs and AUD14.4M in stock at IPO prices.

A further significant announcement has been made by the company after the end of the quarter but prior to the release of this report. On 28 April 2010 D'Aguilar subsidiary Navaho Gold Pty Ltd acquired Mingoola Gold Pty Ltd in exchange for 7 million Navaho shares and 7 million options. The Managing Director of Mingoola, former BHP Exploration Manager of Global Base Metals, Mark Dugmore has been appointed CEO of Navaho Gold, and will lead the team taking Navaho to an IPO and ASX listing.

For the Full Quarterly Report please visit:
http://www.abnnewswire.net/media/en/docs/62779-ASX-DGR-220399.pdf

Contact

Mr Nicholas Mather Managing Director D'Aguilar Gold Limited Tel: +61-7-3303-0680 Mob: +61-417-880-448 Email: info@daguilar.com.au