UNITED STATES SECURITIES AND EXCHANGE
                                   COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


(X)  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

                For the quarterly period ended September 30, 2005

( ) TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE  SECURITIES  EXCHANGE
    ACT

                        For the transition period from to
                            ----------- -------------

                        COMMISSION FILE NUMBER 000-50541

                           DRAGON GOLD RESOURCES, INC.
                 (Name of small business issuer in its charter)

         NEVADA                                               88-0507007
----------------------                                 ------------------------
(State of incorporation or organization)                (IRS Identification No.)

                                 338 Euston Road
                                 London NW1 3BT
                                       UK
                    (Address of principal executive offices)

                              +44 (0) 207 416 4920
                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such Shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No

53,221,724 shares of issuer's common stock, $.001 par value, were outstanding as
of November 11, 2005. The Company has no other class of common equity.

       Transitional Small Business Disclosure Format (Check One) Yes    No  X
                                                                   ----   ----



<PAGE>


Dragon Gold Resources, Inc.
(Formerly Folix Technologies, Inc.)
(An Exploration Stage Company)
(Unaudited)

                          PART I.  FINANCIAL INFORMATION
<TABLE>


                                       Index
<S>                                                                                     <C>

Item 1 Financial Statement
     Consolidated Balance Sheet as of September 30, 2005 [Unaudited]
     and March 31, 2005 [audited]
                                                                                         3

     Consolidated Statement of Operations for the three months ended September
     30, 2005 and 2004
     And from inception (June 13, 2000) to September 30, 2005                            4

     Unaudited Consolidated Statement of Cash Flows for the three months ended
     in September 30, 2005
     And September 30, 2004                                                              5

     Notes to the Consolidated Financial Statements                                      6

Item 2.  Management's Discussion and Analysis or Plan of Operation                      10

Item 3.  Controls and Procedures                                                        14

                        PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings                                                              15

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds                    15

Item 3.  Defaults upon Senior Securities                                                15

Item 4.  Submission of Matters to a Vote of Security Holders                            15

Item 5.  Other Information                                                              15

Item 6.  Exhibits                                                                       15

     Signatures                                                                         16

     Certifications                                                                 17 &18
</TABLE>



Dragon Gold Resources, Inc.
(An Exploration Stage Company)
Balance Sheets
(expressed in U.S. dollars)
<TABLE>


                                                              September 30,      March 31,
                                                                 2005             2005
                                                                  $                 $
                                                              (Unaudited)        (Audited)
<S>                                                          <C>                 <C>

Assets

Current Assets

Cash                                                            60,494           11,280
Prepaid expenses and deposits                                    9,692            7,806
Due from related parties (Note 6(a))                               680                -
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------

Total Current Assets                                            70,866           19,086

Intangible Assets (Note 4)                                      10,938           12,813
Property and Equipment (Note 5)                                  4,137            4,536
-----------------------------------------------------------------------------------------

Total Assets                                                    85,941           36,435
-----------------------------------------------------------------------------------------


Liabilities and Stockholders' Equity

Current Liabilities

Accounts payable                                                30,212           17,484
Accrued liabilities                                              5,742           16,899
Due to related parties (Note 6(a))                                   -            1,153
-----------------------------------------------------------------------------------------

Total Current Liabilities                                       35,954           35,536
-----------------------------------------------------------------------------------------

Commitments (Note 1 and 10)

Stockholders' Equity

Common Stock,
500,000,000 common shares authorized with a par
value of $0.001, 54,221,724 and 51,321,724 common
shares issued and outstanding, respectively                     54,222           51,322

Additional Paid In Capital                                   1,280,362          643,262

Stock Subscription Receivable                                        -         (100,000)

Deferred Compensation                                           (7,812)         (17,188)

Deficit Accumulated During the Exploration Stage            (1,276,785)        (576,497)
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------

Total Stockholders' Equity                                      49,987              899
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------

Total Liabilities and Stockholders' Equity                      85,941           36,435
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------

</TABLE>


                                       3
<PAGE>

Dragon Gold Resources, Inc.
(An Exploration Stage Company)
Statements of Operations
(expressed in U.S. dollars)
(Unaudited)
<TABLE>
                                                                                                          Accumulated From
                                                                                                         December 13, 2000
                                              Three Months Ended               Six Months Ended         (Date of Inception)
                                                 September 30,                   September 30,            to September 30,
                                             2005             2004            2005           2004               2005
                                              $                $               $              $                  $
<S>                                          <C>              <C>             <C>              <C>              <C>



Revenue                                           -               -              -               -                 -
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------


Expenses

Accounting and audit                          8,365           3,300         10,295           6,650            49,615
Depreciation and amortization                 1,431             312          2,861             312             5,840
Consulting (Note 6(b))                       77,733          39,800        476,511          41,800           614,127
Foreign exchange                                855             573          1,993             730             4,166
General and administrative                    7,074          10,176         18,785          12,418            42,273
Legal and organizational                      8,675          20,607         14,032          33,652            67,469
Mineral property costs                       14,219         184,579         79,070         184,579           279,873
Rent                                          9,157           6,120         18,560           6,120            47,404
Travel and promotion                         27,552           7,142         78,181           7,142           167,018
--------------------------------------------------------------------------------------------------------------------------

Total Expenses                              155,061         272,609        700,288         293,403         1,277,785

Gain on sale of assets                            -          (1,000)             -          (1,000)           (1,000)
--------------------------------------------------------------------------------------------------------------------------

Net Loss for the Period                    (155,061)       (271,609)      (700,288)       (292,403)       (1,276,785)
--------------------------------------------------------------------------------------------------------------------------


Net Loss Per Share - Basic and Diluted            -           (0.01)            (0.01)       (0.01)
--------------------------------------------------------------------------------------------------------------------------


Weighted Average Shares Outstanding      53,630,000      50,763,000     52,850,000      50,630,000
--------------------------------------------------------------------------------------------------------------------------
</TABLE>


                                       4
<PAGE>

    (The accompanying notes are an integral part of the financial statements)


Dragon Gold Resources, Inc.
(An Exploration Stage Company)
Statements of Cash Flows
(expressed in U.S. dollars)
(Unaudited)
<TABLE>



                                                                                 Six Months         Six Months
                                                                                   Ended              Ended
                                                                               September 30,       September 30,
                                                                                    2005               2004
                                                                                     $                  $
<S>                                                                             <C>                <C>

Operating Activities

Net loss for the period                                                         (700,288)           (292,403)

Adjustments to reconcile net loss to net cash used in operating activities

   Depreciation and amortization                                                   2,861                 312
   Deferred compensation                                                           9,376                   -
   Shares issued for services                                                    340,000                   -
   Mineral property costs                                                              -             165,000

Change in operating assets and liabilities
Increase in prepaid expenses                                                      (1,886)             (6,287)
Increase (decrease) in accounts payable and accrued liabilities                    1,571              (2,585)
Decrease in amounts due to related parties                                        (1,833)               (309)
------------------------------------------------------------------------------------------------------------------
-
Net Cash Used in Operating Activities                                           (350,199)           (136,272)
------------------------------------------------------------------------------------------------------------------

Investing Activities

Purchase of intangible assets                                                          -              (5,000)
Purchase of property and equipment                                                  (587)                  -
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------

Net Cash Used in Investing Activities                                               (587)             (5,000)
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------

Financing Activities

Payment received on stock subscription receivable                                100,000                   -
Proceeds from issuance of common stock                                           300,000             200,000
------------------------------------------------------------------------------------------------------------------

Net Cash Provided by Financing Activities                                        400,000             200,000
------------------------------------------------------------------------------------------------------------------

Increase in cash                                                                  49,214              58,728

Cash - beginning of period                                                        11,280             101,029
------------------------------------------------------------------------------------------------------------------

Cash - end of period                                                              60,494             159,757
------------------------------------------------------------------------------------------------------------------


Non-Cash Financing Activities

   Amount owing for purchase of intangible assets                                      -              10,000
   Issuance of common stock for acquisition of subsidiary                              -             165,000
   Cancellation of common stock                                                        -             (16,400)

Supplemental Disclosures

Interest paid                                                                          -                   -
Income tax paid                                                                        -                   -

</TABLE>



                                       5
<PAGE>





1.       Development Stage Company

     Dragon Gold Resources, Inc. (the "Company") was incorporated in the State
     of Nevada, U.S.A. on December 13, 2000 under the name "Folix Technologies,
     Inc." Effective June 14, 2004, the Company changed its name to Dragon Gold
     Resources, Inc. The Company's principal business was the development of a
     Linux based application server and thin client computing systems. During
     the year ended March 31, 2005, the Company entered the mineral resource
     exploration business through the acquisition of a 100% interest in Dragon
     Minerals Holdings Inc. ("DMHI"), a private British Virgin Island company.
     DMHI is involved in the mineral property acquisition and exploration in
     China.

     The Company was previously in the development stage as defined by Statement
     of Financial Accounting Standard ("SFAS") No.7 "Accounting and Reporting by
     Development Stage Enterprises" related to its Linux based business. The
     Company changed to the exploration stage during the year ended March 31,
     2005 with the acquisition of its interest in DMHI. The Company has not
     presently determined whether its properties contain mineral reserves that
     are economically recoverable. These financial statements have been prepared
     on a going concern basis, which implies the Company will continue to
     realize its assets and discharge its liabilities in the normal course of
     business. The Company has never generated revenues since inception and is
     unlikely to generate earnings in the immediate or foreseeable future. The
     continuation of the Company as a going concern is dependent upon the
     continued financial support from its shareholders, the ability of the
     Company to obtain necessary equity financing to continue operations and to
     determine the existence, discovery and successful exploitation of
     economically recoverable reserves in its resource properties, confirmation
     of the Company's interests in the underlying properties, and the attainment
     of profitable operations. As of September 30, 2005, the Company has
     accumulated losses of $1,277,785 since inception. These financial
     statements do not include any adjustments to the recoverability and
     classification of recorded asset amounts and classification of liabilities
     that might be necessary should the Company be unable to continue as a going
     concern. These factors raise substantial doubt regarding the Company's
     ability to continue as a going concern.


2.   Basis of Presentation

     The accompanying unaudited condensed consolidated financial statements have
     been prepared in accordance with the generally accepted accounting
     principles for interim financial information and with the instructions to
     Form 10 QSB and Article 10 of the Regulation S-X. Accordingly, they do not
     include all of the information and footnotes required by generally accepted
     accounting principles for complete financial statements. In the opinion of
     management, all adjustments (consisting of normal recurring accruals)
     considered necessary for a fair presentation have been included. Operating
     results for the six month period ended September 30, 2005 are not
     necessarily indicative of the results that may be expected for the year
     ended March 31, 2006.

     The balance sheet at March 31, 2005 has been derived from the audited
     financial statements at that date but does not include all of the
     information and footnotes required by generally accepted accounting
     principles for complete financial statements.

     For further information, refer to the consolidated financials statements
     and footnotes thereto included in the Registrant Company and Subsidiaries'
     annual report on Form 10-KSB for the year ended March 31, 2005.


                                       6
<PAGE>


3.   Recent Accounting Pronouncements

     In May 2005, the Financial Accounting Standards Board (FASB) issued SFAS
     No. 154, "Accounting Changes and Error Corrections - A Replacement of APB
     Opinion No. 20 and SFAS No. 3". SFAS 154 changes the requirements for the
     accounting and reporting of a change in accounting principle and applies to
     all voluntary changes in accounting principle. It also applies to changes
     required by an accounting pronouncement in the unusual instance that the
     pronouncement does not include specific transition provisions. SFAS 154
     requires retrospective application to prior periods' financial statements
     of changes in accounting principle, unless it is impracticable to determine
     either the period-specific effects or the cumulative effect of the change.
     The provisions of SFAS No. 154 are effective for accounting changes and
     correction of errors made in fiscal years beginning after December 15,
     2005. The adoption of this standard is not expected to have a material
     effect on the Company's results of operations or financial position.

     In December 2004, the FASB issued SFAS No. 153, "Exchanges of Nonmonetary
     Assets - An Amendment of APB Opinion No. 29". The guidance in APB Opinion
     No. 29, "Accounting for Nonmonetary Transactions", is based on the
     principle that exchanges of nonmonetary assets should be measured based on
     the fair value of the assets exchanged. The guidance in that Opinion,
     however, included certain exceptions to that principle. SFAS No. 153 amends
     Opinion No. 29 to eliminate the exception for nonmonetary exchanges of
     similar productive assets and replaces it with a general exception for
     exchanges of nonmonetary assets that do not have commercial substance. A
     nonmonetary exchange has commercial substance if the future cash flows of
     the entity are expected to change significantly as a result of the
     exchange. The provisions of SFAS No. 153 are effective for nonmonetary
     asset exchanges occurring in fiscal periods beginning after June 15, 2005.
     Early application is permitted and companies must apply the standard
     prospectively. The adoption of this standard is not expected to have a
     material effect on the Company's results of operations or financial
     position.

     In December 2004, the FASB issued Statement of Financial Accounting
     Standard (SFAS) No. 123R, "Share Based Payment". SFAS 123R is a revision of
     SFAS No. 123 "Accounting for Stock-Based Compensation", and supersedes APB
     Opinion No. 25, "Accounting for Stock Issued to Employees" and its related
     implementation guidance. SFAS 123R establishes standards for the accounting
     for transactions in which an entity exchanges its equity instruments for
     goods or services. It also addresses transactions in which an entity incurs
     liabilities in exchange for goods or services that are based on the fair
     value of the entity's equity instruments or that may be settled by the
     issuance of those equity instruments. SFAS 123R focuses primarily on
     accounting for transactions in which an entity obtains employee services in
     share-based payment transactions. SFAS 123R requires a public entity to
     measure the cost of employee services received in exchange for an award of
     equity instruments based on the grant-date fair value of the award (with
     limited exceptions). That cost will be recognized over the period during
     which an employee is required to provide service in exchange for the award
     - the requisite service period (usually the vesting period). SFAS 123R
     requires that the compensation cost relating to share-based payment
     transactions be recognized in financial statements. That cost will be
     measured based on the fair value of the equity or liability instruments
     issued. Public entities that file as small business issuers will be
     required to apply SFAS 123R in the first interim or annual reporting period
     that begins after December 15, 2005. The adoption of this standard is not
     expected to have a material effect on the Company's results of operations
     or financial position.

     In March 2005, the SEC staff issued Staff Accounting Bulletin No. 107 ("SAB
     107") to give guidance on the implementation of SFAS 123R. The Company will
     consider SAB 107 during implementation of SFAS 123R.

<TABLE>


4.   Intangible Assets
                                                                 September 30,       March 31,
                                                                      2005             2005
                                                   Accumulated    Net Carrying     Net Carrying
                                        Cost      Amortization       Value             Value
                                          $             $              $                 $
        <S>                              <C>     <C>             <C>              <C>


         Website development costs      15,000        4,062          10,938           12,813
         ------------------------------------------------------------------------------------------
         ------------------------------------------------------------------------------------------
</TABLE>

                                       7
<PAGE>
<TABLE>


5.   Property and Equipment
                                                      September 30,       March 31,
                                                           2005             2005
                                        Accumulated    Net Carrying     Net Carrying
                               Cost    Amortization       Value             Value
                                 $           $              $                 $
         <S>                    <C>     <C>             <C>             <C>


         Computer equipment     5,916      1,779           4,137            4,536
         -------------------------------------------------------------------------------
         -------------------------------------------------------------------------------
</TABLE>


6.       Related Party Transactions
(a)      The amount due from related parties at September 30, 2005 of $680
         represents expenses of $159 paid on behalf of the Company by a former
         Director offset by $839 advanced to current directors. These amounts
         are non-interest bearing, unsecured and have no specific terms of
         repayment.
(b)      During the six month period ended September 30, 2005, the Company
         incurred $60,000 for consulting services performed by a director of the
         Company, $33,860 for consulting services provided by a company owned by
         a significant shareholder of the Company and $372,500 for consulting
         services provided by the Chairman of the Board of Directors of the
         Company, which includes $32,500 as part of an employment agreement and
         a one time bonus of 1,000,000 shares of restricted common stock with a
         fair value of $340,000.

7.       Mineral Properties
(a)      On September 21, 2005, the Company entered into a cooperative agreement
         with Yinchuan Gaoxin District Shijin Mining Ltd. ("Yinchuan Mining") to
         form a Sino-Foreign cooperative joint venture company ("JV Company")
         for the exploration and development of the Xijishui Gold Property and
         its surrounding area located in Jingyuan County, Gansu Province, China.
         Pursuant to the agreement, the Company must pay $150,000 to Yinchuan
         Mining over a period of 12 months after Yinchuan Mining transfers its
         mineral exploration rights to the JV Company. The Company will have the
         right to earn an 80% interest in the JV Company by spending $1,200,000
         for exploration activities over a two year period. The term of the
         cooperation agreement is 30 years.
(b)      On September 10, 2005, the Company entered into a cooperative agreement
         with the Guilin Research Institute of Geology and Mineral Resources
         ("Institute") to form a Sino-Foreign cooperative joint venture company
         ("JVC") for the exploration and development of the Maling and Longhou
         Gold Properties located in Guangxi Province, China. Pursuant to the
         agreement, the Company must pay $800,000 to the Institute in stages
         over a period of 30 months after the Institute transfers its mineral
         exploration rights to the JVC. The Company will have the right to earn
         a 75% interest in the JVC by spending $2,500,000 for exploration
         activities over a three year period. The term of the cooperation
         agreement is 30 years.
(c)      On June 2, 2005, the Company entered into an Exploration License
         Transfer Agreement to acquire a 100% interest in two mining claims
         located in Mongolia. The Company is required to pay $9,500 on execution
         of the agreement, and an additional $9,500 upon the transfer of the
         exploration licenses.
(d)      On March 15, 2005, the Company entered into a Letter of Intent with the
         Hanzhong Geological Brigade of the Bureau of Geology & Mineral
         Exploration of Shaanxi Province, China ("Brigade") to form Sino-Foreign
         cooperative joint venture companies for the exploration and development
         of up to seven properties located in Hanzhong, Shaanxi Province.
         Pursuant to the Letter of Intent, the Company would contribute cash to
         the joint ventures and Brigade would contribute the Exploration Permit
         and their previous exploratory findings.
(e)      On January 20, 2005, the Company entered into an option agreement (the
         "Agreement") to acquire a 100% interest, subject to a 2% net smelter
         royalty, in certain mining claims located in Mongolia. To acquire its
         interest, the Company paid CDN$20,000 upon execution of the Agreement,
         and must pay CDN$30,000 on or before January 20, 2006, and an
         additional CDN$50,000 on or before January 20, 2007. The Company has
         the right to purchase the first two-thirds of the royalty interest at
         any time in consideration of payments of CDN$300,000 for each one-third
         portion. The Company also has the right of first refusal for the
         remaining one-third royalty interest.


                                       8
<PAGE>

7.        Mineral Properties (continued)

(f)       On March 1, 2004, DMI entered into a Letter of Intent with the
          Northwest Geology and Exploration Bureau for Nonferrous Metals Party
          ("Party") in China to form a Sino-Foreign cooperative joint venture
          company for the exploration and development of a property located in
          Southern Shaanxi Province. Pursuant to the Letter of Intent, the
          Company would contribute cash to the joint venture and Party would
          contribute the Permit and their previous exploratory findings.

(g)       On February 24, 2004, the Company's wholly-owned subsidiary Dragon
          Minerals Inc. ("DMI") entered into a Letter of Intent with the Bureau
          of Geology and Mineral Exploration & Development of Shaanxi Province
          ("Bureau") in China to form a Sino-Foreign cooperative joint venture
          companies for the exploration and development of up to twelve
          properties located in the Southern Shaanxi Province. Pursuant to the
          Letter of Intent, the Company would contribute cash to the joint
          ventures and Bureau would contribute the Permits and their previous
          exploratory findings.


8.        Common Stock
(a)       On August 23, 2005, the Company entered into a stock subscription
          agreement whereby the Company issued 1,000,000 shares of common stock
          at $0.10 per share for cash proceeds of $100,000.
(b)       On June 22, 2005, the Company entered into a stock subscription
          agreement whereby the Company issued 500,000 shares of common stock at
          $0.20 per share for cash proceeds of $100,000.
(c)       On May 16, 2005, the Company issued 1,000,000 shares of common stock
          as a stock bonus under the terms of a consulting agreement with a fair
          value of $340,000. The shares were valued based upon the closing price
          of the Company's common stock on the date of issue. Refer to Note
          10(b).
(d)       On May 17, 2005, the Company entered into a stock subscription
          agreement whereby the Company issued 400,000 shares of common stock at
          $0.25 per share for cash proceeds of $100,000.
(e)       On April 1, 2005, the Company received the proceeds from the stock
          subscription receivable of $100,000.
(f)       On June 14, 2004, the Company completed a forward split of its common
          stock on a seven for one basis whereas every share of fully paid
          common stock issued and outstanding immediately prior to the forward
          split was changed into seven new shares of common stock of the
          Company. All share amounts have been retroactively adjusted for all
          periods presented. The increase in common stock was accounted for as a
          reduction in additional paid in capital for all periods presented.
          Additionally, the authorized common stock was increased to 500,000,000
          shares of common stock and the par value was re-authorized at $0.001
          per common stock.


9.        Stock Options

     During the six-month period ended September 30, 2005, the Company granted
     stock options to acquire up to 3,000,000 shares of common stock exercisable
     at $0.366 per share on or before May 12, 2010. One-third of the options
     vest each year, for the first three years, on the anniversary date of the
     agreement. Refer to Note 10(b).

     The fair value of the options granted during the period was estimated at
     the date of the grant using the Black-Scholes option pricing model with the
     following assumptions: dividend yield of 0%; risk-free interest of 3.71%;
     expected volatility of 114%; and weighted average life of 3 years. The
     Company will recognize stock-based compensation expense in the amount of
     $535,952, ratably on each of the vesting dates of the options.



                                       9
<PAGE>


9.       Stock Options (continued)

     A summary of the Company's stock option activity is as follows:
<TABLE>

                                                        Six months ended                          Year ended
                                                       September 30, 2005                       March 31, 2005
                                               ------------------------------------     -------------------------------
                                               ------------------ -----------------     ------------- -----------------
                                               Number of Options          Weighted         Number of          Weighted
                                                                           Average                             Average
                                                                    Exercise Price           Options    Exercise Price
    ------------------------------------------ ------------------ -----------------     ------------- -----------------
<S>                                              <C>               <C>                  <C>            <C>

    Balance, beginning of period                               -            $    -                 -            $    -

    Granted                                            3,000,000             0.366                 -                 -

    Cancelled / Forfeited                                      -                 -                 -                 -

    Exercised                                                  -                 -                 -                 -
    ------------------------------------------ ------------------ ----------------- --- ------------- -----------------
    ------------------------------------------ ------------------ ----------------- --- ------------- -----------------

    Balance, end of period                             3,000,000          $  0.366                 -            $    -
    ------------------------------------------ ------------------ ----------------- --- ------------- -----------------

     As at September 30, 2005, the following options are outstanding:

                                                   Outstanding                                Exercisable
                                   ---------------------------------------------     ------------------------------
                                   -------------- -------------- ---------------     --------------- --------------
         Exercise price                                Weighted        Weighted                           Weighted
                                                        average         Average                            Average
                                                      remaining        Exercise                           Exercise
                                       Number of    contractual           Price           Number of          Price
                                $         shares   life (years)               $              shares              $
                                   -------------- -------------- ---------------     --------------- --------------
                                   -------------- -------------- ---------------     --------------- --------------

              0.366                  3,000,000           4.63       $ 0.366                       -          $   -
                                   -------------- -------------- ---------------     --------------- --------------
</TABLE>



10.           Commitments
(a)           On April 1, 2005, the Company entered into a consulting agreement
              ("the Agreement") with a company owned by a significant
              shareholder of the Company, for management and geological
              services. The Agreement is for a period of one year commencing
              April 1, 2005 at CDN$6,875 per month. This Agreement replaces in
              full a previous agreement for CDN$5,625 per month signed on
              October 1, 2004. Either side can terminate the Agreement with 60
              days written notice.
(b)           On May 12, 2005, the Company entered into a five-year employment
              agreement for the position of Chairman Non-Executive (the
              "Employee") for the provision of services for 52 days per year in
              consideration for an annual salary of $60,000. The Company will
              pay $500 per day for each day in excess of 52 days. The Employee
              received 1,000,000 shares of common stock of the Company upon
              execution of the agreement. The Company also granted stock options
              to acquire 3,000,000 shares of common stock for a term of 5 years,
              exercisable at $0.366 per share. One-third of the options vest
              each year, for the first three years, on the anniversary date of
              the agreement.
On March 3, 2005, the Company entered into an agreement to issue 50,000 shares
of common stock to an individual in exchange for consulting services to be
rendered over a two year period. Upon execution of the agreement, the Company
issued 25,000 shares of common stock and will issue the remaining 25,000 shares
within 30 days after the end of the first year of service.


                                       10
<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

FORWARD LOOKING STATEMENTS

THIS REPORT CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF SECTION
27A OF THE SECURITIES ACT OF 1933, AS AMENDED AND SECTION 21E OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED. THE COMPANY'S ACTUAL RESULTS COULD DIFFER
MATERIALLY FROM THOSE SET FORTH ON THE FORWARD LOOKING STATEMENTS AS A RESULT OF
THE RISKS SET FORTH IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION, GENERAL ECONOMIC CONDITIONS, AND CHANGES IN THE ASSUMPTIONS USED IN
MAKING SUCH FORWARD LOOKING STATEMENTS.

As used in this quarterly report, the terms "we", "us", "our", "our company",
and "Company" mean Dragon Gold Resources, Inc., unless otherwise indicated.

GENERAL

     Dragon Gold Resources, Inc. was originally incorporated under the laws of
the state of Nevada as Folix Technologies Inc. ("Folix"), on December 13, 2000.
Pursuant to an exchange agreement executed on July 15, 2004, the Company
acquired 100% of the issued and outstanding common stock of Dragon Minerals
Holdings, Inc. ("Dragon"), the holding company for Dragon Minerals Inc., an
international business company incorporated under the laws of the British Virgin
Islands ("Dragon Minerals"). Thereafter, Folix changed its name to Dragon Gold
Resources, Inc.

THREE MONTHS ENDED  September 30, 2005 COMPARED TO THREE MONTHS ENDED  SEPTEMBER
30, 2004

     The Company earned no revenue for the three months ended September 30, 2005
or for the three months ended September 30, 2004.

     Total expenses decreased by $117,548 from $272,609 during the three months
ended September 30, 2004 for the three months ended September 30, 2005. The
decrease in expenses was mostly attributable to decreases of $170,360 in mineral
property costs, $11,932 in legal and organizational costs, and $3,102 in general
administrative costs. These were partly offset by increases in accounting and
audit of $5,065, $37,933 in consulting expense, $3,037 in rent, and $20,410 in
travel and promotion.

     As a result of the forgoing, the net operating loss of the company
decreased form $271,609 for the three months ended in September 30, 2004 to
$155,061 for the three months ended in September 30, 2005.

RISK FACTORS

     We are subject to all the risks inherent to a Exploration stage company.
These risks include, but are not limited to, a limited operating history,
dependency on key personnel, limited resources, possible failure of our research
and Exploration efforts, failure to complete adequate financings and failure to
meet contractual obligations. Our operating results may be materially affected
by the "RISK FACTORS" discussed below as well as other risks and uncertainties
not discussed herein:

RISKS RELATED TO OUR BUSINESS

     NEED FOR ADDITIONAL FINANCING. The Company will be required to contribute
cash to the potential joint ventures on a continuing basis, however, the exact
amount of continued capital commitment required by the Company is not known at
this time. The Company believes it can continue for approximately six (6) months
if no additional financing is raised, due to the $300,000 the Company has raised
throughout the last three (3) months in connection with offshore subscription
agreements, and will require approximately $200,000 of additional financing to
continue administrative activities for the next twelve (12) months, which does
not include any additional amounts which will be required for exploration
activities or the formation of joint ventures, which the Company anticipates
being substantial.

                                       11
<PAGE>

     Additionally, if the Company does enter into joint ventures or the
Company's management decides to acquire licenses to the Mongolian Properties,
the Company will need a substantial amount of additional financing, which the
Company will determine if the joint ventures are entered into. The Company does
not have any commitments or identified sources of capital from third parties or
from the Company's officers, directors or majority shareholders. There is no
assurance that financing will be available on favorable terms, if at all. If the
Company is unable to raise such financing, it will not be able to enter into the
joint ventures, complete the purchase of the Mongolian licenses or continue
business operations and its business will fail.

     MINERAL PROPERTIES. On January 20, 2005, the Company entered into an option
agreement (the "Agreement") to acquire a 100% interest, subject to a 2% net
smelter royalty, in five mining claims located in Mongolia. To acquire its
interest, the Company paid CDN$20,000 upon execution of the Agreement, and is
required to pay, CDN$30,000 on or before January 20, 2006, and CDN$50,000 on or
before January 20, 2007. The Company has the right to purchase the first
two-thirds of the royalty interest at any time in consideration of payments of
CDN$300,000 for each one-third portion. The Company also has the right of first
refusal for the remaining one-third royalty interest.

In addition, on June 2, 2005, the Company entered into an Exploration License
Transfer Agreement to acquire a 100% interest in two additional mining claims
located in the Taragt subprovince of the Uvurkhangai Province of Mongolia.

The Company can give no assurances that the Company will be able to raise
sufficient funding to carry out the exploration activities in any of these
areas, that the company will have sufficient funds to pay the agreed payments on
its optioned properties, that the Company will explore the properties covered by
the licenses, or if explored that the properties will contain any mineral
reserves.

     LETTERS OF INTENT. The Company has entered into three letters of intent
whereby the Company intends to enter into joint ventures for the development and
exploration of up to twenty (20) properties in Shaanxi Province, China. Pursuant
to one letter of intent, the Company will enter in a Sino-Foreign cooperative
joint venture company with the "Bureau" for the development and exploration of
up to twelve (12) properties. Pursuant the second letter of intent, the Company
will enter into a Sino-Foreign cooperative joint venture company with
"Northwest" for development and exploration of one (1) property. Pursuant to the
third letter of intent, the Company would form Sino-Foreign cooperative joint
venture companies with "Hanzhong" for development and exploration of up to 7
properties. Pursuant to the letters of intent, the Company will contribute cash
to the joint ventures. The other parties to the joint ventures will contribute
up to twenty (20) properties on which the gold exploration and potential
Exploration will be conducted. The Company has not currently entered into any
definitive agreements or joint ventures.

     The Company is in continued negotiations with the other parties to the
letters of intent regarding contributions of the properties and the Company's
contribution of cash. Currently, the joint ventures have not been formed, the
Company has not contributed any cash, none of the properties have been
contributed, and there is no program of development and exploration. There can
be no assurance that the Company will enter into any definitive agreements or
joint ventures, or that the Company will make any cash contributions or that
other parties to the letters of intent will contribute any property. In the
event that any of the foregoing events do not occur, the Company's business will
fail.

     TITLE TO THE PROPERTIES. The government of China owns the land on which the
Company intends to conduct development and exploration through joint ventures
with the Bureau, Northwest and Hanzhong. These are local government departments
that hold permits that give them the right to the mineral resources found under
the surface of the properties. Pursuant to the letters of intent, the Bureau,
Northwest and Hanzhong will contribute Permits for up to an aggregate of twenty
(20) properties and the Company will contribute cash to the joint venture. The
Company has not currently entered into any definitive agreements or joint
ventures. The Company is in continued negotiations with the Bureau, Northwest
and Hanzhong regarding contributions of the properties and the Company's
contribution of cash. Currently, the joint ventures have not been formed, the
Company has not raised or contributed any cash, none of the properties have been
contributed, and there is no program of development and exploration. However,
after a due diligence review of the prospective properties, the Company has
determined that one (1) of the twenty (20) properties and one (1) additional
property meet the Company's criteria for investment, and the Company plans to
proceed in establishing joint ventures for the purpose of developing these two
(2) properties, which the Company can make no assurances that it will be
successful in establishing. If the Company, the Bureau, Northwest and Hanzhong
do not make the contributions contemplated under the letters of intent, the
Company will not have any rights with respect to the properties.

                                       12
<PAGE>

     RELIANCE ON KEY MANAGEMENT. The Company's success depends upon the personal
efforts and abilities of Johannes Petersen, a Director of the Company and the
Company's Chief Executive Officer and President, and Xiaojun ("Albert") Cui, a
Director of the Company. The Company's ability to operate and implement its
business plan is heavily dependent on the continued service of Messrs. Petersen
and Cui, and the Company's ability to attract, retain and motivate qualified
consultants and other outsourced labor, particularly in the area of gold
development and exploration. The Company faces aggressive and continued
competition for such personnel, qualified consultants and other outsourced
labor. The Company cannot be certain that it will be able to attract, retain and
motivate such personnel, qualified consultants and other outsourced labor. The
loss of Mr. Petersen or Mr. Cui, or the Company's inability attract, retain and
motivate such personnel, qualified consultants and other outsourced labor would
have a material adverse effect on the Company's business and operations.

     BECAUSE MR. TSAKOK OWNS 21.6% OF THE COMPANY'S OUTSTANDING COMMON STOCK, HE
WILL EXERCISE SIGNIFICANT CONTROL OVER CORPORATE DECISIONS THAT MAY BE ADVERSE
TO OTHER MINORITY SHAREHOLDERS. Raoul Tsakok beneficially owns 21.6% of the
issued and outstanding shares of the Company's common stock. Accordingly, he
will exercise significant control in determining the outcome of all corporate
transactions or other matters including mergers, consolidations and the sale of
all or substantially all of our assets, and also the power to prevent or cause
change in control. The interest of Mr. Tsakok may differ from the interests of
the other stockholders and thus result in corporate decisions that are adverse
to other shareholders.

     OUR AUDITORS HAVE EXPRESSED SUBSTANTIAL DOUBT AS TO WHETHER OUR COMPANY CAN
CONTINUE AS A GOING CONCERN. Our Company is in its early Exploration stage, as
the Company does not currently offer any products or services and planned
principal activities have not begun. We have not generated any revenues since
inception and have incurred substantial losses. The Company had accumulated
losses of $1,121,724, as of September 30, 2005. Additionally, the Company has no
current prospects for future revenues. These factors among others indicate that
the Company may be unable to continue as a going concern, particularly in the
event that it cannot raise capital through debt or equity financing to conduct
its operations.

RISKS RELATED TO OUR COMMON STOCK

     WE HAVE NOT CREATED A MARKET TO SUSTAIN THE SIGNIFICANT AMOUNT OF SHARES IN
OUR PUBLIC FLOAT. We have a substantial amount of shares of common stock in our
public float that were issued prior to the acquisition of Dragon and our change
in business focus, however, we have not created a market for our common stock.
We may not have adequate time to create such a market prior to the time our
shareholders resell their shares. If our shareholders resell their shares before
we can create a market, it may exert downward pressure on the price of our
common stock.

     IF THERE'S A MARKET FOR OUR COMMON STOCK, OUR STOCK PRICE MAY BE VOLATILE.
If there is a market for our common stock, we anticipate that such market will
be subject to wide fluctuations in response to several factors, including, but
not limited to:
     (1) actual or anticipated variations in our results of operations;
     (2) our ability or inability to generate new revenues;
     (3) increased competition; and
     (4) conditions and trends in the gold exploration and production
         industry.

                                       13
<PAGE>

Furthermore, because our common stock is traded on the NASD over the counter
bulletin board, our stock price may be impacted by factors that are unrelated or
disproportionate to our operating performance. These market fluctuations, as
well as general economic, political and market conditions, such as recessions,
interest rates or international currency fluctuations may adversely affect the
market price of our common stock.

ITEM 3.   CONTROLS AND PROCEDURES

     (a) Evaluation of disclosure controls and procedures. Our chief executive
officer and principal financial officer, after evaluating the effectiveness of
the Company's "disclosure controls and procedures" (as defined in the Securities
Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)) as of the end of the period
covered by this quarterly report (the "Evaluation Date"), have concluded that as
of the Evaluation Date, our disclosure controls and procedures were effective
and designed to ensure that material information required to be disclosed by the
Company in the reports that it files or submits under the Exchange Act of 1934
is 1) recorded, processed, summarized and reported, within the time periods
specified in the Commission's rules and forms; and 2) accumulated and
communicated to him as appropriate to allow timely decisions regarding required
disclosure.

     (b) Changes in internal control over financial reporting. We have not
experienced any changes in our internal control over financial reporting during
our most recent fiscal quarter that materially affected, or were reasonably
likely to materially affect, our internal control over financial reporting.


                           PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS.

     The Company currently is not a party to any material legal proceedings and,
to the Company's knowledge, no such proceedings are threatened or contemplated.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

     The Company sold equity securities pursuant to ___ during the three month
period ended September 30, 2005.

ITEM 3.  DEFAULT UPON SENIOR SECURITIES.

None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5.  OTHER INFORMATION.

None.

ITEM 6.  EXHIBITS

                                       14
<PAGE>

     a.   Exhibits

Exhibit Number              Description of Exhibit
- --------------              ----------------------

     2.1        Exchange Agreement (1)

     3.1        Articles of Incorporation   (2)

     3.2        Certificate of Amendment (3)

     3.3        By-Laws (2)

    10.1        Business Plan Purchase Agreement     (2)

    10.2        Option Agreement (4)

    10.3        Consulting Agreement with Sagit Investment Management
                Ltd.  (5)

    31.1        Certification of Chief Executive Officer and Chief
                Financial Officer pursuant to 18 U.S.C.  Section 1350,
                as adopted pursuant to Section 302 of the Sarbanes-
                Oxley Act of 2002

    32.1        Certification of Chief Executive Officer and Chief Financial
Officer pursuant to 18 U.S.C.  Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002

(1) Filed as Exhibit 2.1 to our report on Form 8-K filed on July 30, 2004, and
incorporated herein by reference.

(2) Filed as Exhibits 3.1, 3.2 and 10.1 to our SB-2 Registration Statement filed
on August 13, 2003, and incorporated herein by reference.

(3) Filed as Exhibit 3.1 to our report on Form 8-K filed on June 14, 2004, and
incorporated herein by reference.

(4) Filed as Exhibit 10.1 to our report on Form 8-K filed on January 25, 2005,
and incorporated herein by reference.

(5) Filed as an Exhibit to the Quarterly Report as filed on February 14, 2005,
and incorporated herein by reference


                                       15
<PAGE>


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                      DRAGON GOLD RESOURCES, INC.

                                       By:  /s/ Johannes Petersen
                                     ----------------------------
                                                Johannes Petersen
                                         Dated: November 14, 2005
                                          Chief Executive Officer
                                      and Chief Financial Officer


                                       16
<PAGE>


Exhibit31.1

Certification of Chief Executive Officer and Chief Financial Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002

I, Johannes Petersen, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Dragon Gold
Resources, Inc.

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

         b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Dated: November 14, 2005

By: /s/ Johannes Petersen
Johannes Petersen
Chief Executive Officer
And Chief Financial Offer


<PAGE>



Exhibit 32.1


CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO
18  U.S.C.   SECTION  1350,   AS  ADOPTED   PURSUANT  TO  SECTION  906  OF  TEHE
SARBANES-OXLEY ACT OF 2002

I, Johannes Petersen, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly
Report of Dragon Gold Resources, Inc. on Form 10-QSB for the quarterly period
ended September 30, 2005 fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 and that information contained
in such Form 10-QSB fairly presents in all material respects the financial
condition and results of operations of Dragon Gold Resources, Inc.

----------------------------

By: /s/ Johannes Petersen
Name: Johannes Petersen
Title: Chief Executive Officer

And Chief Financial Officer

November 14, 2005