UNITED STATESSECURITIES AND EXHCHANGE COMMISIONWashington, D.C.
20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 or 15(d) of the Securities
  Exchange Act of 1934
  For the fiscal year ended: **June 30, 2007**.

[]
  Transition report under Section 13 or 15(d) of the Securities Exchange Act of
  1934 
  For the transition period from ______ to _______.

Commission file number: **333-119823**

**DYNAMIC GOLD CORP.**
  (Name of small business issuer in its charter)

|Nevada                                                               | Applied For                         
|-------------------------------------------------------------------- | ------------------------------------
|                                                                     |                                     
|(State or other jurisdiction of incorporation or
      organization) | (IRS Employer Identification Number)
|                                                                     |                                     

506  675 West Hastings Street, Vancouver, British
  Columbia, Canada V6B 1N2(Address of principal executive offices)
  Issuers telephone number (604) 488-0860

Securities registered under Section 12(b) of the Exchange Act:

Title of each class
      Name of each exchange on which registeredNone
      None Securities registered under Section 12(g) of the Exchange
    Act:


Common Stock 
  (Title of class)

Check whether the issuer is not required to file reports pursuant
  to Section 13 or 15(d) of the Exchange Act: [ ]

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 [   ]

Check if there is no disclosure of delinquent filers in response
  to Item 405 of Regulation S-B contained in this form, and no disclosure will
  be contained, to the best of registrant's knowledge, in definitive proxy or
  information statements incorporated by reference in Part III of this Form 10-KSB
  or any amendment to this Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company
  (as defined in Rule 12b-2 of the Exchange Act.)

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Yes [X]     No [   ]

State issuers revenues for its most recent fiscal year:
  Nil

State the aggregate market value of the voting and non-voting
  common equity held by non-affiliates computed by reference to the price at which
  the common equity was sold, or the average bid and asked price of such common
  equity, as of a specified date within the past 60 days. (See definition of affiliate
  in Rule 12b-2 of the Exchange Act.)

$903,000 as at September 12,2007

State the number of shares outstanding of each of the issuers
  classes of common equity, as of the latest practicable date.

9,515,000 as at September 12,2007

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TABLE OF CONTENTS

|PART I   | 4                                                                                                                                                             
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                               
|         | ITEM 1  DESCRIPTION OF BUSINESS                                                                                                                              
|         | ITEM 2  DESCRIPTION OF PROPERTY                                                                                                                              
|         | ITEM 3  LEGAL PROCEEDINGS                                                                                                                                    
|         | ITEM 4  SUBMISSION OF MATTERS TO
      A VOTE OF SECURITY HOLDERS                                                                                            
|         |                                                                                                                                                               
|PART II  | 12                                                                                                                                                            
|         |                                                                                                                                                               
|         | ITEM 5  MARKET FOR COMMON EQUITY
      AND RELATED STOCKHOLDER MATTERS AND SMALL **BUSINESS ISUER PURCHASES
      OF EQUITY SECURITIES**                     
|         | ITEM 6  MANAGEMENTS DISCUSSION
      AND ANALYSIS OR PLAN OF OPERATION                                                                                      
|         | ITEM 7  FINANCIAL STATEMENTS                                                                                                                                 
|         | ITEM 8A  CONTROLS AND PROCEDURES                                                                                                                             
|         | ITEM 8A(T)  CONTROLS AND PROCEDURES                                                                                                                          
|         | ITEM 8B  OTHER INFORMATION                                                                                                                                   
|         |                                                                                                                                                               
|PART III | 30                                                                                                                                                            
|         |                                                                                                                                                               
|         | ITEM 9  DIRECTORS, EXECUTIVE OFFICERS,
      PROMOTERS, CONTROL PERSONS AND CORPORATE **GOVERNANCE; COMPLIANCE
      WITH SECTION 16(A) OF THE EXCHANGE ACT**
|         | ITEM 10  EXECUTIVE COMPENSATION                                                                                                                              
|         | ITEM 11  SECURITY OWNERSHIP OF
      CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND **RELATED STOCKHOLDER
      MATTERS**                                      
|         | ITEM 12  CERTAIN RELATIONSHIPS
      AND RELATED TRANSACTIONS, AND DIRECTOR  INDEPENDENCE                                                                    
|         | ITEM 13  EXHIBITS                                                                                                                                            
|         | ITEM 14  PRINCIPAL ACCOUNTANT FEES
      AND SERVICES                                                                                                        

3

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FORWARD-LOOKING STATEMENTS

This Form 10-QKB includes "forward-looking statements" within
the meaning of the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are based on management's current
expectations and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements.

All statements other than historical facts included in this
Form, including without limitation, statements under "Plan of Operation",
regarding our financial position, business strategy, and plans and objectives of
management for the future operations, are forward-looking statements.

Although we believe that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ materially from our expectations include, but are not
limited to, market conditions, competition and the ability to successfully
complete financing.

PART I

ITEM 1  DESCRIPTION OF BUSINESS

Business Development

We were incorporated in the State of Nevada on January 21,
2004. Our principal offices are located at 675 West Hastings Street, Suite 506
Vancouver, British Columbia, Canada, V6B 1N2. Our telephone number is (604)
488-0860.

We have not had any bankruptcy, receivership or similar
proceeding since incorporation.

There have been no material reclassifications, mergers,
consolidations or purchases or sales of any significant amount of assets not in
the ordinary course of business since the date of incorporation.

General

We are a development-stage company and have not yet generated
or realized any revenues from our business operations.

On June 16, 2004, we acquired our interest in and to the three
mineral claims, known collectively as the Sobeski Lake Gold, property located in
the Red Lake Mining District, in the province of Ontario, Canada for a cash
payment of $3,500. The former owner of the claims, Dan Patrie Exploration Ltd.,
remains the registered owners of the property. It holds a 100% interest in the
property in trust for us.

To date we have performed only mapping and compilation work on
our property. As such, there is no assurance that a commercially viable mineral
deposit exists on our sole mineral property interest, the Sobeski Lake Gold
property. Further exploration will be required before a final evaluation as to
the economic and legal feasibility of the Sobeski Lake Gold property is
determined. Economic and legal feasibility refers to a formal evaluation
completed by an engineer or geologist, which confirms that the property can be
successfully operated as a mine.

We also anticipate we will be engaged in the acquisition, and
exploration of other mineral properties with a view to the exploitation any
mineral deposits we discover that demonstrate economic feasibility. Exploitation
of a mineral deposit occurs when the company overseeing production processes
rock from the property in order to remove and sell gold contained in the
rock.

Because we are a development stage company, in the event that
we discover mineral deposits on the Sobeski Lake Gold property, we will not have
the capability to remove and refine those minerals. When development stage
companies discover mineral deposits, which are a rare occurrence, they typically
sell their interest in the property to larger development or production stage
mining companies, or they enter into a joint venture arrangement. The larger
companies are then responsible for operating the property as a mine. If we
discover a mineral deposit on the Sobeski Lake Gold property, we anticipate
entering into a similar arrangement with a more advanced mining company.

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Our plan of operation is to determine whether this Sobeski Lake
Gold property contains reserves that are economically recoverable. The
recoverability of amounts from the property will be dependent upon discovering
economically recoverable reserves and obtaining the necessary financing to prove
gold content on the property sufficient enough to justify operating the property
as a mine by processing rock in order to remove and sell the gold found in the
rock.

As a development stage corporation, we are engaged in the
search for mineral deposits (reserves). We are not a development stage company
involved in the preparation of an established commercially minable deposit for
its extraction or a production stage company engaged in the exploitation of a
mineral deposit.

Mineral Property Exploration

Mineral property exploration is typically conducted in phases.
Each subsequent phase of exploration work is recommended by a geologist based on
the results from the most recent phase of exploration. The initial two phases of
an exploration program generally involve geochemical and geophysical surveys of
a property. Subsequent exploration phases typically involve drilling.

Geochemical exploration involves gathering soil samples or
pieces of rock from the property areas with the most potential to host
economically significant mineralization based on past exploration results. All
samples gathered will be sent to a laboratory where they are crushed and
analysed for metal content. Geophysical surveying is the search for mineral
deposits by measuring the physical property of near-surface rocks, and looking
for unusual responses caused by the presence of mineralization. Electrical,
magnetic, gravitational, seismic and radioactive properties are the ones most
commonly measured. Drilling involves extracting a long cylinder of rock from the
ground to determine amounts of metals at different depths. Pieces of the rock
obtained, known as drill core, are analysed for mineral content.

We have not yet commenced the initial phase of exploration on
the Sobeski Lake Gold property. Once we have completed each phase of
exploration, we will make a decision as to whether or not we proceed with each
successive phase based upon the analysis of the results of that program. Our
directors will make this decision based upon the recommendations of the
independent geologist who oversees the program and records the results, as well
as upon the recommendations of Brian Game, our director who is a professional
geologist.

Even if we complete the currently recommended exploration
programs on the Sobeski Lake Gold property and they are successful, we will need
to spend substantial additional funds on further drilling and engineering
studies before we will ever know if there is a commercially viable mineral
deposit (a reserve) on the property.

Compliance with Government Regulation

We will be required to conduct all mineral exploration
activities in accordance with the Mining Act of Ontario. While we do not require
any authorization to proceed with the initial two phases of the recommended
exploration program, we will be required to obtain work permits from the Ontario
Ministry of Northern Development and Mines for the drilling program and any
subsequent exploration work that results in a physical disturbance to the land
if the program calls for the disturbance of more than 10,000 square meters of
the property surface, or such areas that would total that amount when combined.
A work permit is also required for the erection of structures on the property.
There is no charge to obtain a work permit under the Mining Act. We have not
applied for a work permit for the drilling phase of our proposed exploration
program, as the application requires that we disclose details of the planned
exploration. We will not be able to determine this until we have the results
from Stage 1 of our exploration program. We anticipate that we can obtain a work
permit within one month from filing an application.

When our exploration program proceeds to the drilling stage, we
may be required to post small bonds if the rights of a private land owner may be
affected. We may also be required to file statements of work with the Ministry
of Northern Development and Mines. We will also be required to undertake
remediation work on any exploration that results in physical disturbance to the
land. The cost of remediation work will vary according to the degree of physical
disturbance. However, for the drilling programs that we have planned, we do not
expect remediation costs to exceed $10,000. We have budgeted for regulatory
compliance costs in our proposed exploration program. We will need to raise
additional funds in order to proceed with any drilling and to cover the costs of
remediation.

5

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The amount of these costs is not known at this time as we do
not know the extent of the exploration program that will be undertaken beyond
completion of the recommended exploration program. Because there is presently no
information on the size, tenor, or quality of any minerals or reserve at this
time, it is impossible to assess the impact of any capital expenditures on
earnings or our competitive position.

An environmental review is not required under the Environmental
Assessment Act to proceed with the recommended exploration program on our
mineral claims.

In order to keep the three mineral claims comprising the
Sobeski Lake Gold property in good standing, we must incur at least $6.00 per
hectare in exploration work on the claims prior to November 14, 2005 with
respect to three of the claims, and prior to February 16, 2006 with respect to
one of the claims. The expiry date is thereby extended for an additional two
years. As the total area of the claims is 219 hectares, we must spend $1,314 on
exploration in order to meet this requirement.

Employees

At present, we have no employees, other than our current
officers and directors, who devote their time as required to our business
operations.

Research and Development Expenditures

We have incurred a total of $1,000 in connection with Mr.
Ostensoes preparation of a geological report concerning the Sobeski Lake Gold
property. We have not incurred any other research and development expenditures
since our incorporation.

Competition

While the mineral property exploration business is competitive,
we do not anticipate having any difficulties retaining qualified personnel to
conduct exploration on the Sobeski Lake Gold property.

Despite competition amongst gold producers, there is a strong
market for any gold that is removed from the Sobeski Lake Gold property. While
it is unlikely that we will discover a mineral deposit on the property, if we
do, the value of the property will be influenced by the market price for gold.
This price, to some degree, is influenced by the amount of gold sold by advanced
gold production companies.

There are a large number of mineral exploration companies such
as us that look to acquire interests in properties and conduct exploration on
them. Given the large number of unexplored or under explored mineral properties
that are currently available for acquisition, we do not expect competition to
have a material impact on our business operations.

In the mineral exploration sector, our competitive position is
insignificant. There are numerous mineral exploration companies with
substantially more capital and resources that are able to secure ownership of
mineral properties with a greater potential to host economic mineralization. We
are not able to complete with such companies. Instead, we will attempt to
acquire properties without proven mineral deposits that may have the potential
to contain mineral deposits.

Subsidiaries

We do not have any subsidiaries.

Patents and Trademarks

We do not own, either legally or beneficially, any patents or
trademarks.

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Risk Factors

An investment in our common stock involves a high degree of
risk. You should carefully consider the risks described below and the other
information in this annual report before investing in our common stock. If any
of the following risks occur, our business, operating results and financial
condition could be seriously harmed. The trading price of our common stock could
decline due to any of these risks, and you may lose all or part of your
investment.

If we do not obtain additional financing, our business
will fail.

Our current operating funds are less than necessary to complete
all intended exploration of the Sobeski Lake Gold property, and therefore we
will need to obtain additional financing in order to complete our business plan.
We currently do not have any operations and we have no income.

Our business plan calls for significant expenses in connection
with the exploration of the Sobeski Lake Gold property. We do not have
sufficient working capital to conduct an initial phase of exploration on the
property estimated to cost $5,000. We will require additional financing of
$210,000 to complete the balance of the recommended stage one work program and
for the stage two drill program and significant additional funding in order to
determine whether the property contains economic mineralization. We will also
require additional financing if the costs of the exploration of the Sobeski Lake
Gold property are greater than anticipated.

We will require additional financing to sustain our business
operations if we are not successful in earning revenues once exploration is
complete. We do not currently have any arrangements for financing and we can
provide no assurance to investors that we will be able to find such financing if
required. Obtaining additional financing would be subject to a number of
factors, including the market price for gold, investor acceptance of our
property and general market conditions. These factors may make the timing,
amount, terms or conditions of additional financing unavailable to us.

The most likely source of future funds presently available to
us is through the sale of equity capital or loans from our directors. Any sale
of share capital will result in dilution to existing shareholders. The only
other anticipated alternative for the financing of further exploration would be
our sale of a partial interest in the Sobeski Lake Gold property to a third
party in exchange for cash or exploration expenditures, which is not presently
contemplated.

Because we have not commenced business operations, we
face a high risk of business failure.

We have not yet commenced exploration on the property.
Accordingly, we have no way to evaluate the likelihood that our business will be
successful. To date, we have been involved primarily in organizational
activities and the acquisition of our mineral property. We have not earned any
revenues as of the date of this annual report.

Potential investors should be aware of the difficulties
normally encountered by new mineral exploration companies and the high rate of
failure of such enterprises. These potential problems include, but are not
limited to, unanticipated problems relating to exploration, and additional costs
and expenses that may exceed current estimates.

Prior to completion of our exploration stage, we anticipate
that we will incur increased operating expenses without realizing any revenues.
If our exploration programs are successful in establishing minerals of
commercial tonnage and grade, we will require additional funds in order to
further develop the property.

We expect to incur significant losses into the foreseeable
future. We recognize that if we are unable to generate significant revenues from
development of the Sobeski Lake Gold property and the production of minerals
from the claims, we will not be able to earn profits or continue operations.

There is no history upon which to base any assumption as to the
likelihood that we will prove successful, and we can provide investors with no
assurance that we will generate any operating revenues or ever achieve
profitable operations. If we are unsuccessful in addressing these risks, our
business will most likely fail.

The probability of an individual mineral exploration
prospect, such as the Sobeski Lake Gold Property, containing reserves is
extremely remote. As a result, you could lose your entire
investment.

7

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Very few exploration stage mineral properties, such as the
Sobeski Lake Gold property contain sufficient quantities of mineralization to
constitute a reserve. A "reserve" is that part of a mineral deposit which could
be economically and legally extracted or produced.

In all probability, the Sobeski Lake Gold property does not
contain any reserves and all funds that we intend to spend on its exploration
will be ultimately lost.

Because of the speculative nature of exploration of
mining properties, there is a substantial risk that our business will
fail.

The search for valuable minerals as a business is extremely
risky. We can provide investors with no assurance that our mineral claims
contain economic mineralization of gold.

Exploration for minerals is a speculative venture necessarily
involving substantial risk. Our exploration of the Sobeski Lake Gold property
may not result in the discovery of commercial quantities of mineralization.
Problems such as unusual or unexpected formations and other conditions are
involved in mineral exploration and often result in unsuccessful exploration
efforts. In such a case, we would be unable to complete our business plan.

Because of the inherent dangers involved in mineral
exploration, there is a risk that we may incur liability or damages as we
conduct our business.

The search for valuable minerals involves numerous hazards. As
a result, we may become subject to liability for such hazards, including
pollution, cave-ins and other hazards against which we cannot insure or against
which we may elect not to insure. The payment of such liabilities may have a
material adverse effect on our financial position.

Our independent auditor believes there is substantial
doubt that we will continue as a going concern. If we do not continue as a going
concern, you will lose your investment.

The Independent Auditor's Report to our audited financial
statements for the period ended June 30, 2007, indicates that there are a number
of factors that raise substantial doubt about our ability to continue as a going
concern. Such factors identified in the report are our net loss position, our
failure to attain profitable operations and our dependence upon obtaining
adequate financing. If we are not able to continue as a going concern, it is
likely investors will lose their investments.

Because our directors own 53.60% of our outstanding
common stock, they could make and control corporate decisions that may be
disadvantageous to other minority shareholders.

Our directors own approximately 53.60% of the outstanding
shares of our common stock. Accordingly, they will have a significant influence
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. They will also have the power to prevent or cause a change in
control. The interests of our directors may differ from the interests of the
other stockholders and thus result in corporate decisions that are
disadvantageous to other shareholders.

Because our directors have other business interests, they
may not be able or willing to devote a sufficient amount of time to our business
operations, causing our business to fail.

Our President will be devoting only 25% of his time to our
business upon commencement of business operations. Currently our President,
Chief Financial Officer and Corporate Secretary devote approximately 10% of
their time to our affairs. It is possible that the demands on our officers and
directors from their other obligations could cause them to be unable to devote
sufficient time to the management of our business. In addition, they may not
possess sufficient time for our business if the demands of managing our business
increased substantially beyond current levels.

If a market for our common stock does not develop,
shareholders may be unable to sell their shares.

There is currently no market for our common stock and we can
provide no assurance that a market will develop. We currently plan to apply for
listing of our common stock on the over the counter bulletin board. However, we
can provide investors with no assurance that our shares will be traded on the
bulletin board or, if traded, that a public market will materialize. If no
market is ever developed for our shares, it will be difficult for shareholders
to sell their stock. In such a case, shareholders may find that they are unable
to achieve benefits from their investment.

8

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Reports to Securities Holders

We are required to file annual reports on Form 10-KSB and
quarterly reports on Form 10-QSB with the Securities and Exchange Commission on
a regular basis, and will be required to timely disclose certain material events
(e.g., changes in corporate control; acquisitions or dispositions of a
significant amount of assets other than in the ordinary course of business; and
bankruptcy) in a current report on Form 8-K.

You may read and copy any materials we file with the Securities
and Exchange Commission at their Public Reference Room Office, 100 F Street, NE,
Room 1580, Washington, D.C. 20549-0102. You may obtain information on the
operation of the Public Reference Room by calling the Securities and Exchange
Commission at 1-800-SEC-0330. Additionally, the Securities and Exchange
Commission maintains an Internet site (http://www.sec.gov) that contains
reports, proxy and information statements and other information regarding
issuers that file electronically with the Securities and Exchange
Commission.

ITEM 2  DESCRIPTION OF PROPERTY

Mining Properties  General

We hold an interest in and to the three mineral claims, known
as the Sobeski Lake Gold property, located in the Red Lake Mining District in
the province of Ontario, Canada. Dan Patrie Exploration Ltd. holds a 100%
interest in the mineral claims in trust for us. This property comprises three
claims with an approximate area of 219 hectares. Our property interest in the
claims is limited to mineral exploration and extraction rights. We do not have
any real property interest in the claims.

We do not own or lease any property other than the Sobeski Lake
Gold property.

Sobeski Lake Gold Property Purchase Agreement

We acquired the mineral claims located at Sobeski Lake in the
Red Lake Mining district of northwestern Ontario, Canada from Dan Patrie
Exploration Ltd., a private company owned by Dan Patrie on June 16, 2004. We
paid the owner $3,500 in order to acquire a 100% interest in the mineral claims.
Mr. Patrie and his company are both at arm's length to us. There are no other
underlying agreements or interests in the mineral claims.

Title to the Sobeski Lake Gold Property

The Sobeski Lake Gold Property consists of three mineral
claims. A "mineral claim" refers to a specific section of land over which a
title holder owns rights to explore for and extract minerals from the ground.
Such rights may be transferred or held in trust. The claims will be held in
trust by Dan Patrie Exploration Ltd. on behalf of Dynamic Gold Corp. under
prospector license #36646 in the name of Dan Patrie Exploration Ltd., registered
in the Province of Ontario, Canada. We do not own any real property interest in
the land covered by the claims.

If the trustee becomes bankrupt or transfers the claims to a
third party, we may incur significant legal expenses in enforcing our interest
in the claims in Ontario courts.

The registration of the claims in the name of a trustee does
not impact a third party's ability to commence an action against us respecting
the Sobeski Lake Gold property or to seize the claims after obtaining
judgment.

The business purpose of us having the title to the Sobeski Lake
Gold property held in trust is to avoid expenses we would incur in registering
the claims in our corporate name.

A summary of the three mineral claims can be found below:

Name
    
    Claim Number
    
    No. of Claim Units
    
    Date of ExpirySOBESKI LAKE
    
    4201052
    
    9
    
    January 28, 2008SOBESKI LAKE
    
    4201053
    
    4
    
    January 28, 2008SOBESKI LAKE
    
    4201054
    
    4
    
    January 28, 2008


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These claims expired and were restaked during the year ended
June 30, 2006 at a cost of $5,732. As a result, the property comprises three
mineral claims consisting of 17 claim units.

Description, Location and Access

The Sobeski Lake Gold property is located in the Red Lake
Mining District of northwestern Ontario. The district is at the west end of the
Uchi - Red Lake greenstone belt and is accessed by Highway 105 of the Ontario
road system. The four claims are situated approximately 22 kilometers northeast
of Balmertown and 30 kilometers northeast of Red Lake. Red Lake is a
long-established mining and resort town with a population of about 3,000. It is
located on Highway 105, 175 kilometers north of Vermilion Bay on the
Trans-Canada Highway. A full service airport with daily service from Kenora and
Winnipeg is located 10 kilometers north of the town, near Balmertown, the site
of Placer Dome's Campbell Red Lake gold mine and Goldcorp Inc.'s Red Lake gold
mine. Red Lake provides most services and supplies required in support of mining
and exploration work, as well as a ready supply of experienced exploration
personnel. We have not entered into any agreement or negotiations, preliminary
or otherwise, with any personnel or geologists to help us with the exploration
of the Sobeski Lake Gold property.

Access to the claims from Red Lake is northerly by Highway 125
to Balmertown (10 kilometers), then by Nungasser Road to its intersection with a
seasonal logging road about 5 kilometers away. An easterly logging road then
leads to the property about four kilometers away. A logging road is a dirt road
created by forestry companies for the purpose of removing timber from an area.
Such roads are often difficult to traverse in wet or winter weather
conditions.

A side road suitable only for small four wheel drive vehicles
in summer and snowmobiles in winter is followed for about 2 kilometers to the
west side claim line. The narrow side road continues easterly across the
claims.

The Sobeski Lake Gold property is free of any mineral workings
as there is no known history of previous work having been completed on the
claims. Accordingly, there is no equipment located on the claims and no power
source located on the claims. We will need to use portable generators if we
require a power source for exploration of the property.

To date, we have not incurred any exploration expenditures on
the Sobeski Lake Gold property. The property is without known reserves and our
proposed exploration is exploratory in nature.

Mineralization and Rock Formation

The Sobeski Lake Gold property is located in an area of altered
volcanic rocks that have the potential to host economic gold mineralization.
Property sites favorable for mineralization commonly are in proximity to
relatively thin beds of sedimentary rock, particularly tuff beds (layers of
volcanic ash). Canadian Shield rocks, like those found on the property, are
commonly profoundly altered from their original characteristics.

Exploration History

There is no known history of previous work having been
completed on the actual Sobeski Lake Area property but the entire district has
been actively explored by prospectors, airborne surveys, and by detailed
geological mapping by government agencies.

Geological Report: Sobeski Lake Gold Property

We have obtained a geological report on the Sobeski Lake Gold
property that was prepared by Mr. Erik A. Ostensoe, a professional geologist
from Vancouver, British Columbia. The geological report summarizes the results
of exploration in the area of the Sobeski Lake Gold property and makes a
recommendation for further exploration work.

We acquired the four claims of the Sobeski Lake project due to
their proximity to the large block of claims that has been under exploration by
Planet Resources Ltd. That ground, in joint venture with Goldcorp., has been
examined by prospecting, geophysical surveys, both airborne and ground-based,
and by diamond drilling.

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Stage 1

The first stage of exploration that Mr. Ostensoe recommends
consists of data acquisition, grid preparation and surveys and can be broken
down into two phases:

Phase 1

Mr. Ostensoe recommends engaging a technically trained person
to thoroughly search the geological database in order to assemble the available
historical information relevant to the Sobeski Lake area. This would involve
reviewing data filed with the Geological Survey of Canada, the Ontario
Department of Mines and the Ministry of Natural Resources.

He then recommends that based upon this review, we should
pursue an exploration program of prospecting. This would involve determining the
extent, distribution and geology of outcrops. Outcrops are exposed rock on the
surface of the property that is not covered by soil. These outcrops are analysed
to determine whether they potentially containing gold mineralization based on
the rock types.

This preliminary Phase I reconnaissance work requires
approximately one week of fieldwork by a two person crew. The whole phase,
including the initial compilation and the later presentation to management, is
estimated to cost $5,000. Our current working capital will not cover the cost of
this program. We will need to raise additional financing to cover the
anticipated the cost of this phase. We anticipate commencing this phase of
exploration in the spring of 2008, when weather conditions permit. The entire
phase, including the interpretation of data, should take a total of one to two
months.

Phase 2

Upon completion of Phase I, Mr Ostensoe recommends pursuing a
field program of prospecting, as well as geochemical and geophysical surveying
to determine the extent and distribution of mineralization which may indicate
the potential presence of a gold reserve.

Geochemical surveys involve a consulting geologist gathering
samples of soil and rock from property areas with the most potential to host
economically significant mineralization. All samples gathered will be sent to a
laboratory where they are crushed and analysed for metal content.

Geophysical surveying is the search for mineral deposits by
measuring the physical property of near-surface rocks, and looking for unusual
responses caused by the presence of mineralization. Electrical, magnetic,
gravitational, seismic and radioactive properties are the ones most commonly
measured. Geophysical surveys are applied in situations where there is
insufficient information obtainable from the property surface to allow informed
opinions concerning the merit of properties.

Mr. Ostensoe's report recommends that a budget of $10,000 for
phase two. He recommends that the geochemical portion of the program be
completed in the summer, when rock exposure is maximized due to melting of all
snow on the property. He recommends that the geophysical portion of the
exploration be conducted in the winter when the property surface is frozen so
that it can be easily traversed.

We will need to raise additional financing to cover the
anticipated the cost of this program.

Stage 2

Results from the Stage 1 exploration programs will allow us to
choose specific property areas that are more likely to host a mineral deposit.
Such areas will then be tested by meaning of drilling techniques which provide
subsurface information concerning the underlying rock formations.

Drilling involves extracting a long cylinder of rock from the
ground to determine amounts of metals at different depths. Pieces of the rock
obtained, known as drill core, are analysed for mineral content.

Drilling programs commonly include about five to eight initial
drill holes, with a follow up stage, if warranted, of a further six to eight
holes. The cost of the Stage 2 drilling work will be based entirely upon the
results of the programs from Stage 1 and cannot be accurately forecast. However,
we expect that such a program will cost a minimum of $200,000. A follow up

11

---



drill program would likely cost an additional $300,000. We will
not determine the exact number and location of drill holes until we have
completed Stage 1.

We do not have an agreement with Mr. Ostensoe, or any other
geologist, to provide geological services for planned exploration work on the
Sobeski Lake Gold property.

Description of Other Properties

Our president, Mr. Tim Coupland, provides office space to us
free of charge.

We do not own nor lease office space. Our President Tim
Coupland makes contributions to capital for rent of the offices in Vancouver,
British Columbia. This arrangement is expected to continue until such time as
our activities necessitate we relocate, as to which no assurances can be given.
We have no agreements with respect to the maintenance or future acquisition of
an office.

ITEM 3  LEGAL PROCEEDINGS

The Company is not a party to any pending legal proceeding.
Management is not aware of any threatened litigation, claims or assessments.

Our address for service of process in Nevada is 1802 N. Carson
Street, Suite 212, Carson City, Nevada, 89701.

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

No matters were submitted during the fourth quarter of our
fiscal year to a vote of security holders, through the solicitation of proxies
or otherwise.

PART II

ITEM 5  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS AND SMALL BUSINESS ISUER PURCHASES OF EQUITY SECURITIES

Market Information

Our shares of common stock do not trade on any stock exchange
or through the facilities of any quotation system. While we anticipate applying
to have our shares of common stock quoted on the National Association of
Securities Dealers' OTC Bulletin Board, there is no guarantee that we will be
successful.

Holders of Common Stock

As of September 12, 2007, we had 42 stockholders of record
holding 9,515,000 shares of common stock.

Dividend Policy

There are no restrictions in our articles of incorporation or
bylaws that prevent us from declaring dividends. The Nevada Revised Statutes,
however, do prohibit us from declaring dividends where, after giving effect to
the distribution of the dividend:

|1. | we would not be able to pay our debts as they become due
      in the usual course of business; or                                                                                                                                          
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                             
|2. | our total assets would be less than the sum of our total
      liabilities plus the amount that would be needed to satisfy the rights of
      shareholders who have preferential rights superior to those receiving the
      distribution.

We have not declared any dividends, and we do not plan to
declare any dividends in the foreseeable future.

12

---



Equity Compensation Plan

We do not have any securities authorized for issuance under any
equity compensation plans.

Recent Sales of Unregistered Securities

None.

ITEM 6  MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF
OPERATION

Plan of Operations

Our plan of operation for the twelve months following the date
of this report is to complete the recommended stage one exploration program on
the Sobeski Lake Gold property. According to his geology report, Mr. Ostensoe
estimates that the first phase, consisting of a geological data review and
prospecting, will cost approximately $5,000 and will take about one to two
months to complete. This exploration will be completed by a two-person crew,
including a qualified geologist.

We will then commence the second phase of exploration. This
phase will consist of further prospecting and geochemical and geophysical
surveying and is estimated to cost $10,000. This exploration will be completed
by a two or three-person crew, including a qualified geologist. The geophysical
portion of the exploration will be conducted in the winter when the property
surface is frozen so that it can be easily traversed.

We do not have any arrangement with a qualified geologist to
oversee these programs. However, subject to availability, we intend to retain
Mr. Ostensoe. He will be responsible for hiring any additional personnel needed
for the exploration programs.

As well, we anticipate spending an additional $25,000 on
administrative fees, including professional fees payable in connection with the
filing of this registration statement and complying with reporting obligations.
Total expenditures over the next 12 months are therefore expected to be
approximately $40,000.

Our cash reserves are not sufficient to meet our obligations
for the next twelve-month period. As a result, we will need to seek additional
funding in the near future. We currently do not have a specific plan of how we
will obtain such funding. However, we anticipate that additional funding will be
in the form of equity financing from the sale of our common stock. As well, our
management is prepared to provide us with short-term loans, although no such
arrangement has been made.

We cannot provide investors with any assurance that we will be
able to raise sufficient funding from the sale of our common stock or through a
loan from our directors to meet our obligations over the next twelve months. We
do not have any arrangements in place for any future equity financing.

If we do not secure additional funding for exploration
expenditures, we may consider seeking an arrangement with a joint venture
partner that would provide the required funding in exchange for receiving a part
interest in the Sobeski Lake Gold property. We have not undertaken any efforts
to locate a joint venture partner. There is no guarantee that we will be able to
locate a joint venture partner who will assist us in funding exploration
expenditures upon acceptable terms.

If we are unable to arrange additional financing or find a
joint venture partner for the Sobeski Lake Gold property, our business plan will
fail and operations will cease.

Results of Operations for Period Ending June 30,
2007

We have not earned any revenues from our incorporation on
January 21, 2004 to June 30, 2007. We have not commenced the exploration stage
of our business and can provide no assurance that we will discover economic
mineralization on the property.

The Companys net loss for the year ended June 30, 2007 was
$33,845 compared to a net loss of $22,156 for the year ended June 30, 2006.
Contributing to the period over period differences were an increase in
advertising and promotion of $668, filing and financing fees of $122, legal and
accounting fees of $2,052, management fees of $12,000 and rent of $3,600 offset
by a decrease in office and miscellaneous of $22 and mineral property
expenditures of $6,732.

13

---



We have not attained profitable operations and are dependent
upon obtaining financing to pursue exploration activities. For these reasons our
auditors believe that there is substantial doubt that we will be able to
continue as a going concern.

Liquidity and Capital Resources

At June 30, 2007, we had cash on hand of $6,653 and liabilities
of $52,861 consisting of accounts payable and accrued liabilities of $22,129 and
loans from our president, Tim Coupland, for $30,732.

We will require additional funding in order to cover all
anticipated administration costs and to proceed with the phase one and two of
stage one exploration program that is estimated to cost $10,000, as well as the
stage two drilling program on the property, estimated to cost $200,000.

Capital Expenditures

The Company expended no amounts on capital expenditures for the
period from inception to June 30, 2007. At present there are no transactions
being contemplated by management or the board that would affect the financial
condition, results of operations and cash flows of any asset of the Company.

Off-balance Sheet Arrangements

The Company has no off-balance sheet arrangements that would
require disclosure.

Critical Accounting Policies

Our financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America.
Preparing financial statements in accordance with generally accepted accounting
principles requires management to make estimates and assumptions which affect
the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities at the balance sheet dates, and the recognition of
revenues and expenses for the reporting periods. These estimates and assumptions
are affected by management's application of accounting policies.

Mineral Properties

We charge all of our mineral property acquisition and
exploration costs to operations as incurred. If, in the future, we determine
that a mineral property in which we have an interest can be economically
developed on the basis of established proven and probable reserves, we will
capitalize the costs incurred to develop the property. Such costs will be
amortized using the units-of-production method over the estimated life of the
probable reserve.

ITEM 7  FINANCIAL STATEMENTS

As used herein, the terms Company, our,, we, and us
refer to Dynamic Gold Corp., a Nevada corporation, unless otherwise indicated.
In the opinion of management, the accompanying audited financial statements
included in the Form 10-KSB reflect all adjustment (consisting only of normal
recurring accruals) necessary for a fair presentation of the results of
operations for the period presented. The results of operation for the years
presented are not necessarily indicative of the results to be expected for the
future years.

14

---











Dynamic Gold
Corp.(A Development Stage Company)

Financial Statements (Expressed in
U.S. Dollars)30 June 2007









15

---



|JAMES**STAFFORD****** |                                                        
|--------------------- | -------------------------------------------------------
|                      |                                                        
|                      | James Stafford                                         
|                      | Chartered Accountants*                                 
|                      | Suite 350  1111 Melville Street                       
|                      | Vancouver, British Columbia                            
|                      | Canada V6E 3V6                                         
|                      | Telephone +1 604 669 0711                              
|                      | Facsimile +1 604 669 0754                              
|                      | *
      Incorporated professional, James Stafford, Inc.

Report of Independent Registered Public Accounting
Firm

To the Board of Directors and Stockholders of Dynamic
Gold Corp.(A Development Stage Company)

We have audited the balance sheet of Dynamic Gold Corp.(the Company) as at 30 June 2007, and the related statements of operations
and deficit, cash flows and changes in stockholders deficiency for the year
then ended. We have also audited the statements of operations and deficit, cash
flows and changes in stockholders deficiency for the period from the date of
inception on 21 January 2004 through 30 June 2007, except that we did not audit
these financial statements for the period from the date of inception on 21
January 2004 through 30 June 2006; those statements were audited by other
auditors whose report dated 11 September 2006, expressed an unqualified opinion
on those statements. These financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on these
financial statements based on our audit.

We conducted our audit in accordance with the standards of the
Public Company Accounting Oversight Board (United States of America). Those
standards require that we plan and perform the audits to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position of the Company
as of 30 June 2007 and the results of its operations and deficit, cash flows and
changes in stockholders deficiency for the year then ended and for the period
from the date of inception on 21 January 2004 to 30 June 2007 in conformity with
accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in Note
1 to the financial statements, conditions exist which raise substantial doubt
about the Companys ability to continue as a going concern unless it is able to
generate sufficient cash flows to meet its obligations and sustain its
operations. Managements plans in regard to these matters are also described in
Note 1. The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

|                  | */s/ James
      Stafford*
|----------------- | ----------------------------
|                  |                             
|Vancouver, Canada | Chartered Accountants       
|                  |                             
|15 August 2007    |                             

16

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Balance Sheets               
|(Expressed in U.S. Dollars)  
|As at 30 June                

|                                                        |  | 2007    |   |  | 2006    |  
|------------------------------------------------------- |  | ------- | - |  | ------- | -
|                                                        |  | **$**   |   |  | **$**   |  
|                                                        |  |         |   |  |         |  
|Assets                                                  |  |         |   |  |         |  
|                                                        |  |         |   |  |         |  
|Current                                                 |  |         |   |  |         |  
|Cash and cash equivalents                               |  | 6,653   |   |  | 2,190   |  
|                                                        |  |         |   |  |         |  
|                                                        |  |         |   |  |         |  
|Liabilities                                             |  |         |   |  |         |  
|                                                        |  |         |   |  |         |  
|Current                                                 |  |         |   |  |         |  
|Accounts payable and accrued liabilities (Note 4)       |  | 22,129  |   |  | 19,421  |  
|Due to related party (Note 5)                           |  | 30,732  |   |  | 10,732  |  
|                                                        |  |         |   |  |         |  
|                                                        |  | 52,861  |   |  | 30,153  |  
|                                                        |  |         |   |  |         |  
|Shareholders deficiency                                |  |         |   |  |         |  
|Capital stock(Note 6)                                   |  |         |   |  |         |  
|Authorized                                              |  |         |   |  |         |  
|75,000,000 shares, $0.001 par value                     |  |         |   |  |         |  
|Issued and outstanding                                  |  |         |   |  |         |  
|30 June 2007  9,515,000 common shares                  |  |         |   |  |         |  
|30 June 2006  9,515,000
      common shares            |  | 9,515   |   |  | 9,515   |  
|Additional paid-in capital                              |  | 36,585  |   |  | 20,985  |  
|Deficit, accumulated during the
      development stage |  | (92,308 | ) |  | (58,463 | )
|                                                        |  |         |   |  |         |  
|                                                        |  | (46,208 | ) |  | (27,963 | )
|                                                        |  |         |   |  |         |  
|                                                        |  | 6,653   |   |  | 2,190   |  

Nature and Continuance of Operations(Note 1)

On behalf of the Board:

|/ s / Tim Coupland | Director |  | / s /
      Ann-Marie Cederholm | Director
|------------------ | -------- |  | ------------------------------- | --------

The accompanying notes are an integral part of these financial
statements. 17

---



|Dynamic Gold Corp.                  
|------------------------------------
|(A Development Stage Company)       
|Statements of Operations and Deficit
|(Expressed in U.S.
      Dollars)   

|                                                  |  | For the period   |   |  |               |   |  |              |  
|------------------------------------------------- |  | ---------------- | - |  | ------------- | - |  | ------------ | -
|                                                  |  | from the date of |   |  |               |   |  |              |  
|                                                  |  | inception on 21  |   |  | For the year  |   |  | For the year |  
|                                                  |  | January 2004 to  |   |  | ended 30 June |   |  | ended 30     |  
|                                                  |  | 30 June 2007     |   |  | 2007          |   |  | June 2006    |  
|                                                  |  | **$**            |   |  | **$**         |   |  | **$**        |  
|                                                  |  |                  |   |  |               |   |  |              |  
|Expenses                                          |  |                  |   |  |               |   |  |              |  
|Acquisition of mineral property (Note 3)          |  | 10,607           |   |  | -             |   |  | 6,732        |  
|Advertising and promotion                         |  | 668              |   |  | 668           |   |  | -            |  
|Bank charges and interest                         |  | 631              |   |  | 180           |   |  | 179          |  
|Filing and financing fees                         |  | 6,618            |   |  | 2,213         |   |  | 2,091        |  
|Legal and accounting                              |  | 57,763           |   |  | 15,126        |   |  | 13,074       |  
|Management fees (Notes 7 and 9)                   |  | 12,000           |   |  | 12,000        |   |  | -            |  
|Office and miscellaneous                          |  | 421              |   |  | 58            |   |  | 80           |  
|Rent (Notes 7 and 9)                              |  | 3,600            |   |  | 3,600         |   |  | -            |  
|                                                  |  |                  |   |  |               |   |  |              |  
|Net loss for the year                             |  | (92,308          | ) |  | (33,845       | ) |  | (22,156      | )
|                                                  |  |                  |   |  |               |   |  |              |  
|Deficit, accumulated during the development       |  |                  |   |  |               |   |  |              |  
|stage, beginning of year                          |  | -                |   |  | (58,463       | ) |  | (36,307      | )
|                                                  |  |                  |   |  |               |   |  |              |  
|Deficit, accumulated during the
      development |  |                  |   |  |               |   |  |              |  
|stage, end of year                                |  | (92,308          | ) |  | (92,308       | ) |  | (58,463      | )
|                                                  |  |                  |   |  |               |   |  |              |  
|Basic and diluted loss per common share           |  |                  |   |  | (0.01         | ) |  | (0.01        | )
|                                                  |  |                  |   |  |               |   |  |              |  
|Weighted average number of common shares          |  |                  |   |  |               |   |  |              |  
|used in per share calculations                    |  |                  |   |  | 9,515,000     |   |  | 9,515,000    |  

The accompanying notes are an integral part of these financial
statements. 18

---



|Dynamic Gold Corp.               
|---------------------------------
|(A Development Stage Company)    
|Statements of Cash Flows         
|(Expressed in U.S.
      Dollars)

|                                                           |  | For the period     |   |  |              |   |  |              |  
|---------------------------------------------------------- |  | ------------------ | - |  | ------------ | - |  | ------------ | -
|                                                           |  | from the date      |   |  |              |   |  |              |  
|                                                           |  | of inception on 21 |   |  | For the year |   |  | For the year |  
|                                                           |  | January 2004 to    |   |  | ended 30     |   |  | ended 30     |  
|                                                           |  | 30 June            |   |  | June         |   |  | June         |  
|                                                           |  | 2007               |   |  | 2007         |   |  | 2006         |  
|                                                           |  | **$**              |   |  | **$**        |   |  | **$**        |  
|                                                           |  |                    |   |  |              |   |  |              |  
|                                                           |  |                    |   |  |              |   |  |              |  
|Cash flows from operating activities                       |  |                    |   |  |              |   |  |              |  
|Net loss for the year                                      |  | (92,308            | ) |  | (33,845      | ) |  | (22,156      | )
|Adjustments to reconcile loss to net
      cash used by    |  |                    |   |  |              |   |  |              |  
|operating activities                                       |  |                    |   |  |              |   |  |              |  
|Contributions to capital by related
      party  expenses |  |                    |   |  |              |   |  |              |  
|(Notes 7 and 9)                                            |  | 15,600             |   |  | 15,600       |   |  | -            |  
|Changes in operating assets and liabilities                |  |                    |   |  |              |   |  |              |  
|Decrease in prepaid
      expenses                         |  | -                  |   |  | -            |   |  | 1,000        |  
|Increase (decrease) in accounts payable
      and accrued  |  |                    |   |  |              |   |  |              |  
|liabilities (Note 4)                                       |  | 22,129             |   |  | 2,708        |   |  | (1,087       | )
|Increase in due to related party (Note
      5)            |  | 30,732             |   |  | 20,000       |   |  | 10,732       |  
|                                                           |  |                    |   |  |              |   |  |              |  
|                                                           |  | (23,847            | ) |  | 4,463        |   |  | (11,511      | )
|                                                           |  |                    |   |  |              |   |  |              |  
|Cash flows from financing activity                         |  |                    |   |  |              |   |  |              |  
|Issuance of common shares for cash                         |  | 30,500             |   |  | -            |   |  | -            |  
|                                                           |  |                    |   |  |              |   |  |              |  
|Increase (decrease) in cash and cash
      equivalents     |  | 6,653              |   |  | 4,463        |   |  | (11,511      | )
|                                                           |  |                    |   |  |              |   |  |              |  
|Cash and cash equivalents, beginning of
      year         |  | -                  |   |  | 2,190        |   |  | 13,701       |  
|                                                           |  |                    |   |  |              |   |  |              |  
|Cash and cash equivalents, end of
      year               |  | 6,653              |   |  | 6,653        |   |  | 2,190        |  

Supplemental Disclosures with Respect to Cash Flows(Note 9)

The accompanying notes are an integral part of these financial
statements. 19

---



|Dynamic Gold Corp.                               
|-------------------------------------------------
|(A Development Stage Company)                    
|Statements of Changes in Shareholders Deficiency
|(Expressed in U.S.
      Dollars)                

|                                          |  |           |  |  |         |  |  |            |  |  | Deficit     |   |  |               |  
|----------------------------------------- |  | --------- |  |  | ------- |  |  | ---------- |  |  | ----------- | - |  | ------------- | -
|                                          |  |           |  |  |         |  |  |            |  |  | accumulated |   |  |               |  
|                                          |  | Number of |  |  |         |  |  | Additional |  |  | during the  |   |  | Total         |  
|                                          |  | shares    |  |  | Share   |  |  | paid-in    |  |  | development |   |  | shareholders |  
|                                          |  | issued    |  |  | capital |  |  | capital    |  |  | stage       |   |  | deficiency    |  
|Balance at 21 January 2004                |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|(inception)                               |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Common shares issued for cash             |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|($0.001 per share)                        |  | 7,500,000 |  |  | 7,500   |  |  | -          |  |  | -           |   |  | 7,500         |  
|Common shares issued for cash             |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|($0.01 per share)                         |  | 2,000,000 |  |  | 2,000   |  |  | 18,000     |  |  | -           |   |  | 20,000        |  
|Common shares issued for cash             |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|($0.20 per share)                         |  | 15,000    |  |  | 15      |  |  | 2,985      |  |  | -           |   |  | 3,000         |  
|Net loss for the year                     |  | -         |  |  | -       |  |  | -          |  |  | (10,267     | ) |  | (10,267       | )
|                                          |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Balance at 30 June 2004                   |  | 9,515,000 |  |  | 9,515   |  |  | 20,985     |  |  | (10,267     | ) |  | 20,233        |  
|Net loss for the year                     |  | -         |  |  | -       |  |  | -          |  |  | (26,040     | ) |  | (26,040       | )
|                                          |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Balance at 30 June 2005                   |  | 9,515,000 |  |  | 9,515   |  |  | 20,985     |  |  | (36,307     | ) |  | (5,807        | )
|Net loss for the year                     |  | -         |  |  | -       |  |  | -          |  |  | (22,156     | ) |  | (22,156       | )
|                                          |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Balance at 30 June 2006                   |  | 9,515,000 |  |  | 9,515   |  |  | 20,985     |  |  | (58,463     | ) |  | (27,963       | )
|Contributions to capital by
      related |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|party  expenses (Notes 7 and 9)          |  | -         |  |  | -       |  |  | 15,600     |  |  | -           |   |  | 15,600        |  
|Net loss for the year                     |  | -         |  |  | -       |  |  | -          |  |  | (33,845     | ) |  | (33,845       | )
|                                          |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Balance at 30 June 2007                   |  | 9,515,000 |  |  | 9,515   |  |  | 36,585     |  |  | (92,308     | ) |  | (46,208       | )

The accompanying notes are an integral part of these financial
statements. 20

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

|1. | Nature and Continuance of
  Operations
|-- | --------------------------------------

Dynamic Gold Corp. (the Company) was
incorporated under the laws of the State of Nevada on 21 January 2004 and is in
the development stage.

The Company is in the business of
acquiring and pre-exploring mineral properties. The recoverability of the
amounts expended by the Company on acquiring and pre-exploring mineral
properties is dependent upon the existence of economically recoverable reserves,
the ability of the Company to complete the acquisition and/or development of the
properties and upon future profitable production.

The Companys financial statements as
at 30 June 2007 and for the year then ended have been prepared on a going
concern basis, which contemplates the realization of assets and the settlement
of liabilities and commitments in the normal course of business. The Company has
a loss of $33,845 for the year ended 30 June 2007 (30 June 2006 - $22,156,
cumulative - $92,308) and has a working capital deficit of $46,208 at 30 June
2007 (30 June 2006 - $27,963).

Management cannot provide assurance
that the Company will ultimately achieve profitable operations or become cash
flow positive, or raise additional debt and/or equity capital. Management
believes that the Companys capital resources should be adequate to continue
operating and maintaining its business strategy during the fiscal year ending 30
June 2008. However, if the Company is unable to raise additional capital in the
near future, due to the Companys liquidity problems, management expects that
the Company will need to curtail operations, liquidate assets, seek additional
capital on less favourable terms and/or pursue other remedial measures. These
financial statements do not include any adjustments related to the
recoverability and classification of assets or the amounts and classification of
liabilities that might be necessary should the Company be unable to continue as
a going concern.

At 30 June 2007, the Company had
suffered losses from development stage pre-exploration activities to date.
Although management is currently attempting to implement its business plan, and
is seeking additional sources of equity or debt financing, there is no assurance
these activities will be successful. Accordingly, the Company must rely on its
president to perform essential functions without compensation until a business
operation can be commenced. These factors raise substantial doubt about the
ability of the Company to continue as a going concern. The financial statements
do not include any adjustments that might result from the outcome of this
uncertainty.

|2. | Significant Accounting
Policies
|-- | -------------------------------

The following is a summary of
significant accounting policies used in the preparation of these financial
statements.

21

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|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

Basis of presentation

The financial statements of the Company
have been prepared in accordance with accounting principles generally accepted
in the United States of America applicable to development stage enterprises, and
are expressed in U.S. dollars. The Companys fiscal year end is 30 June.

Cash and cash equivalents

Cash and cash equivalents include
highly liquid investments with original maturities of three months or less.

Mineral property costs

The Company has been in the exploration
stage since its formation 21 January 2004 and has not yet realized any revenues
from its planned operations. It is primarily engaged in the acquisition and
exploration of mining properties. Mineral property acquisitions and exploration
costs are charged to operations as incurred. When it has been determined that a
mineral property can be economically developed as a result of establishing
proven and probable reserves, the costs incurred to develop such property, are
capitalized. Such costs will be amortized using the units-of-production method
over the estimated life of the probable reserve.

Although the Company has taken steps to
verify title to mineral properties in which it has an interest, according to the
usual industry standards for the stage of exploration of such properties, these
procedures do not guarantee the Companys title. Such properties may be subject
to prior agreements or transfers and title may be affected by undetected
defects.

Environmental expenditures

The operations of the Company have
been, and may in the future, be affected from time to time, in varying degrees,
by changes in environmental regulations, including those for future reclamation
and site restoration costs. Both the likelihood of new regulations and their
overall effect upon the Company vary greatly and are not predictable. The
Companys policy is to meet or, if possible, surpass standards set by relevant
legislation, by application of technically proven and economically feasible
measures.

Environmental expenditures that relate
to ongoing environmental and reclamation programs are charged against earnings
as incurred or capitalized and amortized depending on their future economic
benefits. Estimated future reclamation and site restoration costs, when the
ultimate liability is reasonably determinable, are charged against earnings over
the estimated remaining life of the related business operation, net of expected
recoveries.

22

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

Foreign currency translation

The Companys functional and reporting
currency is in U.S. dollars. The financial statements of the Company are
translated to U.S. dollars in accordance with SFAS No. 52, Foreign Currency
Translation. Monetary assets and liabilities denominated in foreign
currencies are translated using the exchange rate prevailing at the balance
sheet date. Gains and losses arising on translation or settlement of foreign
currency denominated transactions or balances are included in the determination
of income. The Company has not, to the date of these financial statements,
entered into derivative instruments to offset the impact of foreign currency
fluctuations.

Use of estimates

The preparation of financial statements
in conformity with accounting principles generally accepted in the United States
of America requires management to make estimates and assumptions that affect the
amounts of assets and liabilities and disclosures of contingent assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenditures during the reporting period. Actual results could
differ from these estimates.

Concentration of credit risk

The Companys financial instruments
that are exposed to concentrations of credit risk primarily consist of its cash
and related party payables. The Company places its cash and cash equivalents
with financial institutions of high credit worthiness. At times, its cash and
cash equivalents with a particular financial institution may exceed any
applicable government insurance limits. The Companys management also routinely
assesses the financial strength and credit worthiness of any parties to which it
extends funds and as such, it believes that any associated credit risk exposures
are limited.

Risks and uncertainties

The Company operates in the resource
exploration industry that is subject to significant risks and uncertainties,
including financial, operational, technological, and other risks associated with
operating a resource exploration business, including the potential risk of
business failure.

Financial instruments

The Companys financial instruments
consist of cash, prepaid expenses, accounts payable and accrued liabilities and
loan payable. The carrying value of the financial instruments is approximate
fair value due to their short term to maturity. Unless otherwise noted, it is
managements opinion that the Company is not exposed to significant interest,
currency or credit risk arising from these financial instruments.

23

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

Income taxes

Deferred income taxes are reported for
timing difference between items of income or expense reported in the financial
statements and those reported for income tax purposes in accordance with SFAS
No. 109, Accounting for Income Taxes, which requires the use of the
asset/liability method of accounting for income taxes. Deferred income taxes and
tax benefits are recognized for the future tax consequences attributable to
differences between the financial statement carrying amounts of existing assets
and liabilities and their respective tax bases, and for tax loss and credit
carry-forwards. Deferred tax assets and liabilities are measured using enacted
tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The Company
provides for deferred taxes for the estimated future tax effects attributable to
temporary differences and carry-forwards when realization is more likely than
not.

Basic and diluted loss per
share

The Company computes net loss per share
in accordance with SFAS No. 128, Earnings per Share. SFAS No. 128
requires presentation of both basic and diluted earnings per share (EPS) on
the face of the income statement. Basic EPS is computed by dividing net loss
available to common shareholders (numerator) by the weighted average number of
shares outstanding (denominator) during the period. Diluted EPS gives effect to
all potentially dilutive common shares outstanding during the period using the
treasury stock method and convertible preferred stock using the if-converted
method. In computing diluted EPS, the average stock price for the period is used
in determining the number of shares assumed to be purchased from the exercise of
stock options or warrants. Diluted EPS excludes all potentially dilutive shares
if their effect is anti-dilutive.

Comprehensive loss

SFAS No. 130, Reporting
Comprehensive Income, establishes standards for the reporting and display
of comprehensive loss and its components in the financial statements. As at 31
March 2007, the Company has no items that represent a comprehensive loss and,
therefore, has not included a schedule of comprehensive loss in the financial
statements.

Comparative figures

Certain comparative figures have been
adjusted to conform to the current years presentation.

24

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

Recent accounting
pronouncements

In May 2005, the Financial Accounting
Standards Board (the FASB) issued SFAS No. 154, Accounting Changes and
Error Corrections  A Replacement of APB Opinion No. 20 and SFAS No. 3. SFAS
No. 154 changes the requirements for the accounting for 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 No. 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 15 December 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 (SAB) No. 107 to give guidance on the implementation
of SFAS No. 123R. The Company will consider SAB No. 107 during implementation of
SFAS No. 123R.

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 15 June 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 its financial position.

In December 2004, the FASB issued SFAS
No. 123R, Share Based Payment. SFAS No. 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 No. 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 No. 123R focuses primarily on accounting for
transactions in which an entity obtains employee services in share-based payment
transactions. SFAS No. 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 No. 123R requires that the compensation cost
relating to share-based payment transactions be recognized in the financial
statements. That cost will be measured based on the fair value of the equity or
liability instruments issued.

25

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

Public entities that file as small
business issuers will be required to apply SFAS No. 123R in the first interim or
annual reporting period that begins after 15 December 2005. The adoption of this
standard is not expected to have a material effect on the Company's results of
operations or its financial position.

The FASB has also issued SFAS No. 151
and 152, but they will not have an effect of the financial reporting of the
Company.

Management does not believe that any
recently issued, but not yet effective accounting standards if currently adopted
could have a material effect on the accompanying financial statements.

|3. | Mineral Property
|-- | ----------------

During the year ended 30 June 2004, the
Company acquired a 100% undivided right, title and interest in and to the 24
claim units located in the Red Lake Mining District in the province of Ontario,
Canada (the Sobeski Lake Gold Property) for $3,500 cash. These claims expired
and were restaked during the year ended 30 June 2006 at a cost of $5,732. As a
result, the Sobeski Lake Gold Property comprises three mineral claims consisting
of 17 claim units.

|4. | Accounts Payable and Accrued
  Liabilities
|-- | ------------------------------------------

Accounts payable and accrued
liabilities are non-interest bearing, unsecured and have settlement dates within
one year.

|5. | Due to Related Party
|-- | --------------------

The amount due to related party of
$30,732 (2006 - $10,732) is due to a director/shareholder of the Company. A
total of $10,000, $10,732 and $10,000 are due and repayable on 8 December 2007,
31 March 2008 and 3 April 2008 respectively.

|6. | Capital Stock
|-- | -------------

Authorized

The total authorized capital is
75,000,000 common shares with a par value of $0.001.

Issued and outstanding

The total issued and outstanding
capital stock is 9,515,000 common shares with a par value of $0.001 per common
share.

26

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

|7. | Related Party Transactions
|-- | --------------------------

During the year ended 30 June 2007, an
officer and director of the Company made contributions to capital for management
fees in the amount of $12,000 (30 June 2006 - $Nil, cumulative - $12,000) and
for rent in the amount of $3,600 (30 June 2006 - $Nil, cumulative - $3,600)
(Note 9).

|8. | Income Taxes
|-- | ------------

The Company has losses carried forward
for income tax purposes to 30 June 2007. There are no current or deferred tax
expenses for the year ended 30 June 2007 due to the Companys loss position. The
Company has fully reserved for any benefits of these losses. The deferred tax
consequences of temporary differences in reporting items for financial statement
and income tax purposes are recognized, as appropriate. Realization of the
future tax benefits related to the deferred tax assets is dependent on many
factors, including the Companys ability to generate taxable income within the
net operating loss carryforward period. Management has considered these factors
in reaching its conclusion as to the valuation allowance for financial reporting
purposes.

The provision for refundable federal
income tax consists of the following:

| |                                             |  | For the year  |   | For the year  |  
| | ------------------------------------------- |  | ------------- | - | ------------- | -
| |                                             |  | ended 30 June |   | ended 30 June |  
| |                                             |  | 2007          |   | 2006          |  
| |                                             |  | **$**         |   | **$**         |  
| |                                             |  |               |   |               |  
| | Deferred tax asset attributable to:         |  |               |   |               |  
| | Current operations                          |  | 11,507        |   | 8,769         |  
| | Contributions to capital by related parties |  | (5,304        | ) | -             |  
| | Less: Change in valuation allowance         |  | (6,203        | ) | (8,769        | )
| |                                             |  |               |   |               |  
| | Net refundable amount                       |  | -             |   | -             |  

The composition of the Companys
deferred tax assets as at 30 June 2007 and 30 June 2006 are as follows:

| |                                            |  | As at 30 June |   | As at 30 June |  
| | ------------------------------------------ |  | ------------- | - | ------------- | -
| |                                            |  | 2007          |   | 2006          |  
| |                                            |  | **$**         |   | **$**         |  
| |                                            |  |               |   |               |  
| | Net income tax operating loss carryforward |  | 92,308        |   | 58,463        |  
| |                                            |  |               |   |               |  
| | Statutory federal income tax rate          |  | 34%           |   | 34%           |  
| | Contributed rent and services              |  | -5.75%        |   | 0%            |  
| | Effective income tax rate                  |  | 0%            |   | 0%            |  
| |                                            |  |               |   |               |  
| | Deferred tax assets                        |  | 26,081        |   | 19,877        |  
| | Less: Valuation allowance                  |  | (26,081       | ) | (19,877       | )
| |                                            |  |               |   |               |  
| | Net deferred tax asset                     |  | -             |   | -             |  

27

---



|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|30 June
      2007           

The potential income tax benefit of
these losses has been offset by a full valuation allowance.

As at 30 June 2007, the Company has an
unused net operating loss carry-forward balance of approximately $76,708 that is
available to offset future taxable income. This unused net operating loss
carry-forward balance expires between 2024 and 2027.

|9. | Supplemental Disclosures with Respect to Cash
      Flows
|-- | ---------------------------------------------------------

| |                                          |  | For the period  |  |  |          |  |  |          | 
| | ---------------------------------------- |  | --------------- |  |  | -------- |  |  | -------- | 
| |                                          |  | from the date   |  |  |          |  |  |          | 
| |                                          |  | of inception on |  |  | For the  |  |  | For the  | 
| |                                          |  | 21              |  |  | year     |  |  | year     | 
| |                                          |  | January 2004 to |  |  | ended 30 |  |  | ended 30 | 
| |                                          |  | 30 June         |  |  | June     |  |  | June     | 
| |                                          |  | 2007            |  |  | 2007     |  |  | 2006     | 
| |                                          |  | **$**           |  |  | **$**    |  |  | **$**    | 
| |                                          |  |                 |  |  |          |  |  |          | 
| | Cash paid during the period for interest |  | -               |  |  | -        |  |  | -        | 
| | Cash paid during the period for income   |  |                 |  |  |          |  |  |          | 
| | taxes                                    |  | -               |  |  | -        |  |  | -        | 

During the year ended 30 June 2007, an
officer and director of the Company made contributions to capital for management
fees in the amount of $12,000 (30 June 2006 - $Nil, cumulative - $12,000) and
for rent in the amount of $3,600 (30 June 2006 - $Nil, cumulative - $3,600)
(Note 7).

28

---



ITEM 8  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANICAL DISCLOSURE

We did not have any disagreements on accounting and financial
disclosures with our present accounting firm during the reporting period.

ITEM 8A  CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Based on the managements evaluation (with the participation
our President and Chief Financial Officer), our President and Chief Financial
Officer have concluded that as of December 31, 2006, the Companys disclosure
controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the
Securities Exchange of 1934 (the "Exchange Act") are effective to provide
reasonable assurance that the information required to be disclosed in this
annual report on Form 10-KSB is recorded, processed, summarized and reported
within the time period specified in Securities and Exchange Commission rules and
forms.

(b) Internal control over financial reporting

Management's annual report on internal control over
financial reporting

Management is responsible for establishing and maintaining
adequate internal control over financial reporting as defined in Rules 13a-15(f)
and 15d-15(f) under the Exchange Act. Our internal control over financial
reporting is intended to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external
purposes in accordance with U.S. GAAP. Our internal control over financial
reporting should include those policies and procedures that:

- pertain to the maintenance of records that, in reasonable detail,
  accurately and fairly reflect the transactions and dispositions of our assets;
- provide reasonable assurance that transactions are recorded as necessary
  to permit preparation of financial statements in accordance with applicable
  GAAP, and that receipts and expenditures are being made only in accordance
  with authorizations of management and the Board of Directors; and
- provide reasonable assurance regarding prevention or timely detection of
  unauthorized acquisition, use or disposition of our assets that could have a
  material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.

Under the supervision and with the participation of our
management, including Tim Coupland, our President and Chief Executive Officer,
and Ann-Marie Cederholm, our Chief Financial Officer, we have evaluated the
effectiveness of our disclosure controls and procedures as of June 30, 2007.

Based upon their evaluation of our controls, Tim Coupland, our
President and Chief Executive Officer, and Ann-Marie Cederholm, our Chief
Financial Officer, has concluded that, subject to the limitations noted above,
the disclosure controls are effective providing reasonable assurance that
material information relating to us is made known to management on a timely
basis during the period when our reports are being prepared.

Attestation report of the registered public accounting
firm

This annual report does not include an attestation report of
the company's registered public accounting firm regarding internal control over
financial reporting. Management's report was not subject to attestation by the
company's registered public accounting firm pursuant to temporary rules of the
Securities and Exchange Commission that permit the company to provide only
management's report in this annual report.

29

---



Changes in internal control over financial
reporting

There were no changes in our internal controls that occurred
during the quarter covered by this report that have materially affected, or are
reasonably likely to materially affect our internal controls.

Changes in Internal Controls

Based on the evaluation as of March 31, 2007, Tim Coupland, our
President and Chief Executive Officer, and Ann-Marie Cederholm, our Chief
Financial Officer have concluded that there were no significant changes in our
internal controls over financial reporting or in any other areas that could
significantly affect our internal controls subsequent to the date of his most
recent evaluation, including corrective actions with regard to significant
deficiencies and material weaknesses.

ITEM 8A(T)  CONTROLS AND PROCEDURES

See Item 8A  Controls and Procedures above.

ITEM 8B  OTHER INFORMATION

None.

PART III

ITEM 9  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, CONTROL
PERSONS AND CORPORATE GOVERNANCE; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE
ACT

Our executive officers and directors and their respective ages
as of the date of this annual report are as follows:

Directors

Name of
      Director
    
    Age
    
    SinceTim Coupland
    
    48
    
    01/24/2004Brian Game
    
    44
    
    01/24/2004Ann-Marie Cederholm
    
    31
    
    04/26/2007Robert Hall
    
    29
    
    04/26/2007


Executive Officers and Management

Name of
      Officer
    
    Age
    
    Office
    
    SinceTim Coupland
    
    48
    
    President, Chief Executive Officer
    
    01/24/2004Ann-Marie Cederholm
    
    31
    
    Chief Financial Officer
    
      04/26/2007Tamiko Coupland
    
    40
    
    Corporate Secretary
    
    04/26/2007


The following describes the business experience of our
directors and executive officers, including other directorships held in
reporting companies:

Tim Coupland, President and Chief Executive
Officer

Mr. Coupland has acted as our President, Chief Executive
Officer and director since our incorporation on January 21, 2004. Mr. Coupland
has held numerous officer and directorship positions with TSX-V listed companies
and OTCBB listed junior mining companies. Since 2000, Mr. Coupland has acted as
President, Director and Chief Executive Officer of Alberta Star Development
Corp., (TSX-V-ASX) (OTCBB-ASXSF) an exploration company engaged in the
acquisition, exploration and development of exploration properties. Since 1996,
he has acted as President, Secretary and sole director of T8X Capital Ltd., a
private

30

---



British Columbia company involved in public company structuring
and reorganization, preparing business plans, sourcing public and private
financing and completing due diligence reviews of companies. In 2006, he was
appointed director of Max Resource Corp. (TSX-V-MXR) (OTCBB-MXROF). Mr. Coupland
has also acted as director of Anglo-Sierra Resources Corp., a non-reporting
junior resource company whose shares were quoted on the OTCBB. Mr. Coupland has
over 20 years of business experience with both public and private companies and
has been successfully involved in raising both debt and equity financings of
over $60 million dollars. He brings expertise in raising equity capital and then
assembling highly seasoned teams of professionals, consultants, financial
consultants and mineral exploration advisors who have proven track records in
financing, negotiation and promotion required to secure and develop successful
mineral exploration projects. Mr. Coupland brings a wealth of technical and
financial experience as well as long-term business relationships with many
Canadian First Nations and Métis groups operating in Canadas Northwest
Territories. Mr. Coupland has a Bachelors degree in Geography from Simon Fraser
University.

Ann-Marie Cederholm, Chief Financial Officer

Ms. Cederholm joined us as director and Chief Financial Officer
for the Company on April 26, 2007. Ms. Cederholm has been the Corporate
Secretary for Alberta Star Development Corp., (TSX-V-ASX) (OTCBB-ASXSF) since
October 19, 2005. Ms. Cederholm graduated from the University of British
Columbia with a Bachelors degree in Education in 2006. She also received a
Bachelors degree in Commerce from Royal Roads University in 1997. In 2003, she
was admitted as a member of the Certified General Accountants of British
Columbia. Ms. Cederholm has over 10 years of accounting experience in public
practice and industry with a variety of private and public companies.

Tamiko Coupland, Corporate Secretary

Mrs. Coupland joined us as Corporate Secretary for the Company
on April 26, 2007. Mrs. Coupland was the Corporate Secretary for Alberta Star
Development Corp., (TSX-V-ASX) (OTCBB-ASXSF) from October 20, 2004 to October
19, 2005. Since 1996, she has acted as the secretary for T8X Capital Ltd., a
private British Columbia company involved in public company structuring and
reorganization, preparing business plans, sourcing public and private financing
and completing due diligence reviews of companies.

Brian Game, Director

Mr. Game has acted as a director for the Company since our
incorporation on January 21, 2004 and as the Companys Corporate Secretary from
January 21, 2004 to April 26, 2007. Mr. Game has been the Vice-President of
Explorations for Westminster Resources Ltd. since January 26, 2006 and the
Vice-President of Geology for Pacific Cascade Minerals Inc. (TSX-V-PCV) since
January 24, 2006. Mr. Game holds a B.Sc. (Geology) degree which he received from
the University of British Columbia in 1985. He also has a designation of P.Geo
from the Association of Professional Engineers and Geoscientists of BC which was
granted in 1992. Since February 1995, Mr. Game has been self-employed and
President of BGame Associated Inc., a private company in the business of
providing geological consulting services. Mr. Game was a director of three
public companies which traded on the Exchange; Takepoint Ventures Ltd. from
April 1993 to December 2001, Goldzone Explorations Inc. from April 1996 to
November 2001 and Iciena Ventures Inc. from May 1998 to March 2002. Mr. Game has
over 15 years experience in the junior mineral exploration business in British
Columbia and internationally.

Robert Hall, Director

Mr. Hall joined us as a director for the Company on April 26,
2007. Mr. Hall joined us as a Director. Since 2006, Mr. Hall has acted as a
director and VP of Field Operations of Alberta Star Development Corp.,
(TSX-V-ASX) (OTCBB-ASXSF). Mr. Hall holds a Bachelors degree in Education from
the University of British Columbia. Mr. Hall has over 14 years of industry
experience, nine of which were in a senior management capacity, with the Keg
Steakhouse Restaurants of Canada. His accomplishments as a senior manager
included receiving the Top Keg Restaurant Franchise Award for all of Canada in
2005. Mr. Hall was the recipient of The Franchise of the Year award
exemplifying excellence in all fields including sales, teamwork, leadership,
human resources management, administration, financial analysis and the ability
to follow the Keg Restaurants rigorous high standards of excellence.

31

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Conflict of Interest

Each of our directors are involved in non-company business
ventures that involve mineral properties and exploration. As our present
business plan is focused entirely on the Sobeski Lake Gold property, there is no
expectation of any conflict between our business interests and those of our
directors. However, possible conflicts may arise in the future if we seek to
acquire interests in additional mineral properties.

Our bylaws provide that each officer who holds another office
or possesses property whereby, whether directly or indirectly, duties or
interests might be created in conflict with his duties or interests as our
officer shall, in writing, disclose to the president the fact and the nature,
character and extent of the conflict and be approved by a majority of the
disinterested directors of our board of directors.

Significant Employees

The Registrant does not presently employ any person as a
significant employee who is not an executive officer but who makes or is
expected to make a significant contribution to the business of the Company.

Family Relationships

President and Chief Executive Officer Tim Coupland, and
Corporate Secretary Tamiko Coupland are married, though no other familial or
marital relationships exist amongst our officers and directors.

Involvement in Certain Legal Proceedings

No event listed in Sub-paragraphs (1) through (4) of
Subparagraph (d) of Item 401 of Regulation S-B, has occurred with respect to any
present executive officer or director of the Registrant or any nominee for
director during the past five years which is material to an evaluation of the
ability or integrity of such director or officer.

Section 16(A) Beneficial Ownership Reporting
Compliance

Section 16(a) of the Exchange Act requires our executive
officers and directors, and persons who beneficially own more than 10% of our
equity securities, to file reports of ownership and changes in ownership with
the Securities and Exchange Commission. Officers, directors and greater than 10%
shareholders are required by Securities and Exchange Commission regulation to
furnish us with copies of all Section 16(a) forms they file. Based on our review
of the copies of such forms we received, we believe that during the fiscal year
ended June 30, 2007 all such filing requirements applicable to our officers and
directors were current in their filings.

Code of Ethics

We have not adopted a written Code of Ethics at this time that
applies to our principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions. Our Board of Directors are reviewing the necessity of adopting such a
document given we are still in the start-up development stage and have limited
employees, officers and directors.

Board Committees

Nominating Committee

We do not have a Nominating Committee. Since our formation we
have relied upon the personal relationships of our President to attract
individuals to our Board of Directors.

32

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We do not have a policy regarding the consideration of any
director candidates which may be recommended by our stockholders, including the
minimum qualifications for director candidates, nor has our Board of Directors
established a process for identifying and evaluating director nominees. We have
not adopted a policy regarding the handling of any potential recommendation of
director candidates by our stockholders, including the procedures to be
followed. Our Board has not considered or adopted any of these policies as we
have never received a recommendation from any stockholder for any candidate to
serve on our Board of Directors. Given our relative size and lack of directors
and officers insurance coverage, we do not anticipate that any of our
stockholders will make such a recommendation in the near future. While there
have been no nominations of additional directors proposed, in the event such a
proposal is made, all members of our Board will participate in the consideration
of director nominees.

Compensation Committee

We do not have a Compensation Committee. Our entire Board of
Directors review and recommend the salaries, and benefits of all employees,
consultants, directors and other individuals compensated by us.

Audit Committee

We do not have a standing Audit Committee. The functions of the
Audit Committee are currently assumed by our Board of Directors.

Our Board of Directors has determined that we have at least one
financial expert, Ann-Marie Cederholm. Since Ann-Marie Cederholm is an officer
of the Company, as well as a director, she is not considered independent.

An audit committee financial expert means a person who has the
following attributes:

| | (a) | An understanding of generally accepted accounting
      principles and financial statements;                                                                                                                                                                                                                                                                                                                                             
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (b) | The ability to assess the general application of such
      principles in connection with the accounting for estimates, accruals and
      reserves;                                                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (c) | Experience preparing, auditing, analyzing or evaluating
      financial statements that present a breadth and level of complexity of
      accounting issues that are generally comparable to the breadth and
      complexity of issues that can reasonably be expected to be raised by the
      small business issuer's financial statements, or experience actively
      supervising one or more persons engaged in such activities;
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (d) | An understanding of internal control over financial
      reporting; and                                                                                                                                                                                                                                                                                                                                                                 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (e) | An understanding of audit committee
  functions.                                                                                                                                                                                                                                                                                                                                                                                         

Ms. Cederholm received a Bachelors degree in Commerce from
Royal Roads University in 1997. In 2003, she was admitted as a member of the
Certified General Accountants of British Columbia. Ms. Cederholm has over 10
years of accounting experience in public practice and industry with a variety of
private and public companies.

33

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ITEM 10  EXECUTIVE COMPENSATION

The table below summarizes all compensation awarded to, earned
by, or paid to our executive officers by any person for all services rendered in
all capacities to us for the fiscal years ended June 30, 2007 and 2006.

Summary Compensation Table

|                                                                   |      |        |       |        |        | Non-Equity   |              |              |      
|------------------------------------------------------------------ | ---- | ------ | ----- | ------ | ------ | ------------ | ------------ | ------------ | -----
|                                                                   |      |        |       |        |        | Incentive    | Nonqualified | All          |      
|                                                                   |      |        |       | Stock  | Option | Plan         | Deferred     | Other        |      
|Name and Principal                                                 |      | Salary | Bonus | Awards | Awards | Compensation | Compensation | Compensation | Total
|Position                                                           | Year | ($)    | ($)   | ($)    | ($)    | ($)          | ($)          | ($)          | ($)  
|                                                                   |      |        |       |        |        |              |              |              |      
|Tim Coupland President, Chief
      Executive Officer and Director | 2007 | -      | -     | -      | -      | -            | -            | -            | -    
|                                                                   |      |        |       |        |        |              |              |             
|2006                                                               | -    | -      | -     | -      | -      | -            | -            | -           
|                                                                   |      |        |       |        |        |              |              |              |      
|Ann-Marie Cederholm Chief
      Financial Officer and Director     | 2007 | -      | -     | -      | -      | -            | -            | -            | -    
|                                                                   |      |        |       |        |        |              |              |             
|2006                                                               | -    | -      | -     | -      | -      | -            | -            | -           
|                                                                   |      |        |       |        |        |              |              |              |      
|Tamiko Coupland Corporate
      Secretary                          | 2007 | -      | -     | -      | -      | -            | -            | -            | -    
|2006                                                               | -    | -      | -     | -      | -      | -            | -            | -           
|                                                                   |      |        |       |        |        |              |              |              |      
|Brian Game Director                                                | 2007 | -      | -     | -      | -      | -            | -            | -            | -    
|2006                                                               | -    | -      | -     | -      | -      | -            | -            | -           
|                                                                   |      |        |       |        |        |              |              |              |      
|Robert Hall Director                                               | 2007 | -      | -     | -      | -      | -            | -            | -            | -    
|2006                                                               | -    | -      | -     | -      | -      | -            | -            | -           

Outstanding Equity Awards

As of September 14, 2007, our directors and executive officers
did not hold any unexercised options, stock that had not vested, or equity
incentive plan awards.

Compensation of Directors

Our directors did not earn any compensation during the fiscal
year ended June 30, 2007.

Employment Contracts and Termination of Employment or Change
of Control

We have no plans or arrangements in respect of remuneration
received or that may be received by our executive officers to compensate such
officers in the event of termination of employment (as a result of resignation
or retirement) or change of control transaction.

No retirement, pension, profit sharing, stock option or
insurance programs or other similar programs have been adopted by us for the
benefit of our employees.

34

---



ITEM 11  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table provides the names and addresses of each
person known to us to own more than 5% of our outstanding common stock as of the
date of this annual report, and by the officers and directors, individually and
as a group. Except as otherwise indicated, all shares are owned directly.

|Title of |                                                 | Amount and nature of | Percent of
|-------- | ----------------------------------------------- | -------------------- | ----------
|class    | Name and address of beneficial owner
      (2)  | beneficial owner     | class     
|(1)      |                                                 | (3)                  | (4)       
|         |                                                 |                      |           
|Common   | Tim Coupland                                    | 3,500,000            | 36.78%    
|Stock    | President, Chief Executive Officer and Director | Direct               |           
|         | Suite 506  675 West Hastings Street            |                      |           
|         | Vancouver, BC V6B 1N2                           |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Ann-Marie Cederholm                             | 100,000              | 1.05%     
|Stock    | Chief Financial Officer and Director            | Direct               |           
|         | Suite 506  675 West Hastings Street            |                      |           
|         | Vancouver, BC V6B 1N2                           |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Brian Game                                      | 1,500,000            | 15.76%    
|Stock    | Director                                        | Direct               |           
|         | Suite 300  675 West Hastings Street            |                      |           
|         | Vancouver, BC V6B 1N2                           |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Robert Fedun                                    | 500,000              | 5.25%     
|Stock    | Suite 2901  193 Aquarius Mews                  | Direct               |           
|         | Vancouver, BC V6Z 2Z2                           |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Dr. Douglas Coupland                            | 500,000              | 5.25%     
|Stock    | 586 Barnham Place                               | Direct               |           
|         | West Vancouver, BC V7S 1T7                      |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | David Lorne                                     | 500,000              | 5.25%     
|Stock    | Suite 101  1184 Denman Street                  | Direct               |           
|         | Vancouver, BC V6G 2M9                           |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Mark Foreman                                    | 500,000              | 5.25%     
|Stock    | 2531 Borden Cres.                               | Direct               |           
|         | Prince George, BC V2L 2X4                       |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | Larry Ilich                                     | 500,000              | 5.25%     
|Stock    | 1635 53 A. Street                               | Direct               |           
|         | Delta, BC V4M 3G3                               |                      |           
|         | Canada                                          |                      |           
|         |                                                 |                      |           
|Common   | All Officers and Directors                      | 5,100,000            | 53.60%    
|Stock    | as a Group that Consists of Three People        |                      |           

The percent of class is based on 9,515,000 shares of common
stock issued and outstanding as of the date of this annual report.

35

---



Changes in Control

We know of no arrangements the operation of which may result in
a change of our control.

ITEM 12  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
AND DIRECTOR INDEPENDENCE

Certain Relationships and Related Transactions

None of the following parties has, during the fiscal year ended
June 30, 2007, had any material interest, direct or indirect, in any transaction
with us or in any presently proposed transaction that has or will materially
affect us:

|* | Any of our directors or officers;                                                                                                                                           
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|* | Any person proposed as a nominee for election as a
      director;                                                                                                          
|* | Any person who beneficially owns, directly or indirectly,
      shares carrying more than 10% of the voting rights attached to our
      outstanding shares of common stock;
|* | Any of our promoters;                                                                                                                                                       
|* | Any relative or spouse of any of the foregoing persons
      who has the same house as such person.                                                                         

Director Independence

We currently do not have any independent directors, as the term
independent is defined by the rules of the Nasdaq Stock Market (Note: Our
shares of common stock are not listed on NASDAQ or any other national securities
exchange and this reference is used for definition purposes only).

ITEM 13  EXHIBITS

The following exhibits are furnished as required by Item 601 of
Regulation S-B.

|Exhibit No. | Exhibit Title                                                                                                                                                                                 
|----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|            |                                                                                                                                                                                               
|3(i)        | Articles of Incorporation*                                                                                                                                                                    
|3(ii)       | Bylaws *                                                                                                                                                                                      
|10.1        | Mineral Property Bill of Sale*                                                                                                                                                                
|16.1        | Letter from Amisano Hanson,
      Chartered Accountants***                                                                                                                                    
|31.a        | Certificate of CEO as Required by
      Rule 13a-14(a)/15d-14                                                                                                                                 
|31.b        | Certificate of CFO as Required by
      Rule 13a-14(a)/15d-14                                                                                                                                 
|32.a        | Certificate of CEO and
      CFO as Required by Rule Rule 13a-14(b) and Rule 15d-14(b) (17 CFR
      240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United
      States Code
|
|
|99.1        | Claims location map**                                                                                                                                                                         



|*   | Included in our original SB-2 Registration Statement
      filed on December 9, 2004.                       
|--- | ------------------------------------------------------------------------------------------------------------
|**  | Included in our SB-2 Amended Registration Statement filed on October
      19, 2005.                        
|*** | Included in our Form 8-K that was filed with the
      Securities and Exchange Commission on April 30,
2007.

ITEM 14  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Fees and Services

James Stafford Chartered Accountants, audited our financial
statements for fiscal 2007 as well as the quarterly statements for the nine
month period ended March 31, 2007. Our previous accountant, Amisano Hanson,
Chartered Accountants audited our financial statements for fiscal 2006 as well
as the quarterly statements for the three month period ended September 30, 2006
and six month period ended December 31, 2006. The following is an aggregate of
fees billed for each of the last two fiscal years for professional services
rendered by our current and prior principal accountants:

36

---



|                                                              |   | 2007   |  |   | 2006  | 
|------------------------------------------------------------- | - | ------ |  | - | ----- | 
|Audit fees*                                                   | $ | 4,863  |  | $ | 4,795 | 
|Audit-related fees**                                          |   | 7,040  |  |   | 4,293 | 
|Tax fees                                                      |   | -      |  |   | -     | 
|All other fees                                                |   | -      |  |   | -     | 
|Total fees paid or accrued to our principal
      accountants | $ | 11,903 |  | $ | 9,088 | 

*   Audit fees consist of fees related to
professional services rendered in connection with the audit of our annual
financial statements.

** Audit related fees consist of fees related to professional
services rendered in connection with the review of our quarterly reports on Form
10-QSB.

Pre-Approval Policies and Procedures

Our policy is to pre-approve all audit and permissible
non-audit services performed by the independent accountants. These services may
include audit services, audit-related services, tax services and other services.
Under our audit committee's policy, pre-approval is generally provided for
particular services or categories of services, including planned services,
project based services and routine consultations. In addition, the audit
committee may also pre-approve particular services on a case-by-case basis. We
approved all services that our independent accountants provided to us in the
past two fiscal years.

37

---



SIGNATURE

In accordance with Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended (the Exchange Act) the Registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.

DYNAMIC GOLD CORP.BY:
    / s /
      Tim CouplandTim Coupland, President and Chief Executive
      OfficerBY:
    / s /
      Ann-Marie CederholmAnn-Marie Cederholm, Chief Financial OfficerDATE:
    September 12, 1007


Pursuant to requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on behalf of
the registrant and in the capacities and on the dates indicated:

BY:
    / s /
      Tim CouplandTim Coupland, President and Chief Executive
      OfficerDate:
    September 12, 2007


BY:
    / s /
      Ann-Marie CederholmAnn-Marie Cederholm, Chief Financial OfficerDATE:
    September 12, 1007


38

---



Exhibit 31.a

CERTIFICATION

I, Tim Coupland, President and Chief Executive Officer of
Dynamic Gold Corp., certify that:

|1. | I have reviewed the report of Dynamic Gold
  Corp.;                                                                                                                                                                                                                                                                                                                                      
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                          
|2. | Based on my knowledge, this 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 report;                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                          
|3. | Based on my knowledge, the financial statements, and
      other financial information included in this report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the small business issuer as of, and for, the periods presented
      in this report;                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                          
|4. | The small business issuer's other certifying officer(s)
      and I are responsible for establishing and maintaining disclosure controls
      and procedures (as defined in Exchange Act Rules 13a15(e) and 15d15(e))
      and internal control over financial reporting (as defined in Exchange Act
      Rules 13a15(f) and 15d15(f)) for the small business issuer and
    have:

| | (a) | Designed such disclosure controls and procedures, or
      caused such disclosure controls and procedures to be designed under our
      supervision, to ensure that material information relating to the small
      business issuer, including its consolidated subsidiaries, is made known to
      us by others within those entities, particularly during the period in
      which this report is being prepared;                                              
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (b) | Designed such internal control over financial reporting,
      or caused such internal control over financial reporting to be designed
      under our supervision, to provide reasonable assurance regarding the
      reliability of financial reporting and the preparation of financial
      statements for external purposes in accordance with generally accepted
      accounting principles;                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (c) | Evaluated the effectiveness of the small business
      issuer's disclosure controls and procedures and presented in this report
      our conclusions about the effectiveness of the disclosure controls and
      procedures, as of the end of the period covered by this report based on
      such evaluation; and                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (d) | Disclosed in this report any change in the small business
      issuer's internal control over financial reporting that occurred during
      the small business issuer's most recent fiscal quarter (the small business
      issuer's fourth fiscal quarter in the case of an annual report) that has
      materially affected, or is reasonably likely to materially affect, the
      small business issuer's internal control over financial reporting;
    and

|5. | The small business issuer's other certifying officer(s)
      and I have disclosed, based on our most recent evaluation of internal
      control over financial reporting, to the small business issuer's auditors
      and the audit committee of the small business issuer's board of directors
      (or persons performing the equivalent
functions):
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a) | All significant deficiencies and material weaknesses in
      the design or operation of internal control over financial reporting which
      are reasonably likely to adversely affect the small business issuer's
      ability to record, process, summarize and report financial information;
      and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                             
| | (b) | Any fraud, whether or not material, that involves
      management or other employees who have a significant role in the small
      business issuer's internal control over financial
  reporting.                                                                                                         

Date: September 12, 2007

/ s / Tim CouplandTim Coupland, President and
CEO(Principal Executive Officer)

39

---



Exhibit 31.b

CERTIFICATION

I, Ann-Marie Cederholm, Chief Financial Officer and principal
accounting officer of Dynamic Gold Corp., certify that:

|1. | I have reviewed the report of Dynamic Gold
  Corp.;                                                                                                                                                                                                                                                                                                                                       
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                           
|2. | Based on my knowledge, this 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 report;                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                           
|3. | Based on my knowledge, the financial statements, and
      other financial information included in this report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the small business issuer as of, and for, the periods presented
      in this report;                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                           
|4. | The small business issuer's other certifying officer(s)
      and I are responsible for establishing and maintaining disclosure controls
      and procedures (as defined in Exchange Act Rules 13a15(e) and 15d 15(e))
      and internal control over financial reporting (as defined in Exchange Act
      Rules 13a15(f) and 15d15(f)) for the small business issuer and
    have:

| | (a) | Designed such disclosure controls and procedures, or
      caused such disclosure controls and procedures to be designed under our
      supervision, to ensure that material information relating to the small
      business issuer, including its consolidated subsidiaries, is made known to
      us by others within those entities, particularly during the period in
      which this report is being prepared;                                              
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (b) | Designed such internal control over financial reporting,
      or caused such internal control over financial reporting to be designed
      under our supervision, to provide reasonable assurance regarding the
      reliability of financial reporting and the preparation of financial
      statements for external purposes in accordance with generally accepted
      accounting principles;                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (c) | Evaluated the effectiveness of the small business
      issuer's disclosure controls and procedures and presented in this report
      our conclusions about the effectiveness of the disclosure controls and
      procedures, as of the end of the period covered by this report based on
      such evaluation; and                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (d) | Disclosed in this report any change in the small business
      issuer's internal control over financial reporting that occurred during
      the small business issuer's most recent fiscal quarter (the small business
      issuer's fourth fiscal quarter in the case of an annual report) that has
      materially affected, or is reasonably likely to materially affect, the
      small business issuer's internal control over financial reporting;
    and

|5. | The small business issuer's other certifying officer(s)
      and I have disclosed, based on our most recent evaluation of internal
      control over financial reporting, to the small business issuer's auditors
      and the audit committee of the small business issuer's board of directors
      (or persons performing the equivalent
functions):
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a) | All significant deficiencies and material weaknesses in
      the design or operation of internal control over financial reporting which
      are reasonably likely to adversely affect the small business issuer's
      ability to record, process, summarize and report financial information;
      and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                             
| | (b) | Any fraud, whether or not material, that involves
      management or other employees who have a significant role in the small
      business issuer's internal control over financial
  reporting.                                                                                                         

Date: September 12, 2007

/ s / Ann-Marie Cederholm Ann-Marie Cederholm,
CFO(Principal Accounting Officer)

40

---



Exhibit 32.a

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS
ADOPTED PURSUANT TOSECTION 906 OF THE SARBANES-OXLEY ACT OF
2002

In connection with the Companys Report of Dynamic Gold Corp.
(the "Company") on Form 10-KSB for the year ended June 30, 2007, as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I, Tim
Coupland, Principal Executive and I, Ann-Marie Cederholm, Principal Financial
Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

|(1) | The Report fully complies with the requirements of
      Section 13(a) or 15(d) of the Securities Exchange Act of 1934;
  and                                  
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                
|(2) | The information contained in the Report fairly presents,
      in all material respects, the financial condition and result of operations
      of the Company.

/ s / Tim CouplandTim Coupland, Principal Executive
Officer September 12, 2007

/ s / Ann-Marie CederholmAnn-Marie Cederholm,
Principal Financial Officer September 12, 2007

41