UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB

[ X ]    Quarterly Report pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

         For the period ended September 30, 2006.

[    ]   Transition Report pursuant to 13 or 15(d) of the Securities Exchange
         Act of 1934

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

                  Commission File Number   333-119823
                                           ----------



                               DYNAMIC GOLD CORP.
 -------------------------------------------------------------------------------
        (Exact name of small Business Issuer as specified in its charter)


             Nevada                                 Applied For
--------------------------------           ---------------------------------
(State or other jurisdiction of            (IRS Employer Identification No.)
incorporation or organization)

675 West Hastings Street, Suite 200
Vancouver, British Columbia, Canada                      V6B 1N2
----------------------------------------          --------------------
(Address of principal executive offices)          (Postal or Zip Code)


Issuer's telephone number, including area code:         604-681-3131
                                                   ---------------------


                                      None
 ------------------------------------------------------------------------
 (Former name, former address and former fiscal year, if changed since
   last report)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act of 1934  during the  preceding  12
months (or for such  shorter  period  that the issuer was  required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days [ X ] Yes [ ] No

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act) [ X ] Yes [ ] No

State the number of shares outstanding of each of the issuer's classes of common
stock, as of the latest  practicable date:  9,515,000 Shares of $0.001 par value
Common Stock outstanding as of November 14, 2006.


<page>




                               DYNAMIC GOLD CORP.

                        (A Pre-exploration Stage Company)

                          INTERIM FINANCIAL STATEMENTS

                               September 30, 2006

                             (Stated in US Dollars)

                                   (Unaudited)


<page>


                               DYNAMIC GOLD CORP.
                        (A Pre-exploration Stage Company)
                             INTERIM BALANCE SHEETS
                      September 30, 2006 and June 30, 2006
                             (Stated in US Dollars)
                                   (Unaudited)

<table>
<caption>


                                                                               September 30,        June 30,
                                                                                    2006              2006
                                                                                    ----              ----

                                                                           <c>               <c>
                                               ASSETS

Current
    Cash                                                                      $         2,131   $         2,190
                                                                              ===============   ===============

                                            LIABILITIES

Current
    Accounts payable and accrued liabilities                                  $        21,421   $        19,421
    Loan payable - Note 3                                                              10,732            10,732
                                                                              ---------------   ---------------

                                                                                       32,153            30,153
                                                                              ---------------   ---------------

                                    STOCKHOLDERS' DEFICIENCY

Common stock
         75,000,000  shares authorized, $0.001 par value
          9,515,000  shares outstanding (June 30, 2006: 9,515,000)                      9,515             9,515
Additional paid in capital                                                             20,985            20,985
Deficit accumulated during the pre-exploration stage                                  (60,522)          (58,463)
                                                                              ---------------   ---------------

                                                                                      (30,022)          (27,963)
                                                                              ---------------   ---------------

                                                                              $         2,131   $         2,190
                                                                              ===============   ===============
</table>

                             SEE ACCOMPANYING NOTES

<page>

                               DYNAMIC GOLD CORP.
                        (A Pre-exploration Stage Company)
                        INTERIM STATEMENTS OF OPERATIONS
              for the three month ended September 30, 2006 and 2005
 and for the period January 21, 2004 (Date of Inception) to September 30, 2006
                             (Stated in US Dollars)
                                   (Unaudited)


<table>
<caption>
                                                                                              January 21, 2004
                                                                                                  (Date of
                                                                 Three months ended            Inception) to
                                                                    September 30,              September 30,
                                                                2006             2005               2006
                                                                ----             ----               ----

                                                       <c>               <c>             <c>
Expenses
    Accounting and audit fees                             $         2,000   $       3,024   $          26,637
    Bank charges                                                       59              36                 510
    Filing fees                                                         -               -               4,405
    Legal fees                                                          -           1,500              18,000
    Office and miscellaneous                                            -               -                 363
    Mineral property costs                                              -               -              10,607
                                                          ---------------   -------------   -----------------

Net loss for the period                                   $        (2,059)  $      (4,560)  $         (60,522)
                                                          ===============   =============   =================

Basic and diluted loss per share                          $         (0.00)  $       (0.00)
                                                          ===============   =============

Weighted average number of shares outstanding                   9,515,000       9,515,000
                                                          ===============   =============
</table>


                             SEE ACCOMPANYING NOTES

<page>


                               DYNAMIC GOLD CORP.
                        (A Pre-exploration Stage Company)
                        INTERIM STATEMENTS OF CASH FLOWS
             for the three months ended September 30, 2006 and 2005
 and for the period January 21, 2004 (Date of Inception) to September 30, 2006
                             (Stated in US Dollars)
                                   (Unaudited)


<table>
<caption>
                                                                                                   January 21, 2004
                                                                                                       (Date of
                                                                      Three months ended            Inception) to
                                                                         September 30,              September 30,
                                                                     2006             2005               2006
                                                                     ----             ----               ----

                                                            <c>              <c>              <c>
Operating Activities
    Net loss for the period                                    $        (2,059) $        (4,560) $         (60,522)
    Change in non-cash working capital balance related
     to operations
      Accounts payable and accrued liabilities                           2,000            1,881             21,421
                                                               ---------------  ---------------  -----------------

Net cash used in operating activities                                      (59)          (2,679)           (39,101)
                                                               ---------------  ---------------  -----------------

Financing Activities
    Capital stock issued                                                     -                -             30,500
    Loan payable                                                             -                -             10,732
                                                               ---------------  ---------------  -----------------

Net cash from financing activities                                           -                -             41,232
                                                               ---------------  ---------------  -----------------

Increase (decrease) in cash during the period                              (59)          (2,679)             2,131

Cash, beginning of the period                                            2,190           13,701                  -
                                                               ---------------  ---------------  -----------------

Cash, end of the period                                        $         2,131  $        11,022  $           2,131
                                                               ===============  ===============  =================
</table>



                             SEE ACCOMPANYING NOTES

<page>

                               DYNAMIC GOLD CORP.
                       (A Pre-exploration Stage Company)
             INTERIM STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)
   for the period January 21, 2004 (Date of Inception) to September 30, 2006
                             (Stated in US Dollars)
                                  (Unaudited)


<table>
<caption>
                                                                                             Deficit
                                                                                           Accumulated
                                                                          Additional        During the
                                               Common Shares               Paid-in       Pre-exploration
                                     ----------------------------------
                                          Number         Par Value         Capital            Stage            Total
                                     ---------------  --------------   --------------   ---------------    --------------

                                  <c>              <c>              <c>              <c>                <c>
Capital stock issued for cash
                     - at $0.001           7,500,000  $        7,500   $            -   $             -    $        7,500
                     - at $0.01            2,000,000           2,000           18,000                 -            20,000
                     - at $0.20               15,000              15            2,985                 -             3,000
Net loss for the period                            -               -                -           (10,267)          (10,267)
                                     ---------------  --------------   --------------   ---------------    --------------

Balance, June 30, 2004                     9,515,000           9,515           20,985           (10,267)           20,233

Net loss for the period                            -               -                -           (26,040)          (26,040)
                                     ---------------  --------------   --------------   ---------------    --------------

Balance, June 30, 2005                     9,515,000           9,515           20,985           (36,307)           (5,807)

Net loss for the period                            -               -                -           (22,156)          (22,156)
                                     ---------------  --------------   --------------   ---------------    --------------

Balance, June 30, 2006                     9,515,000           9,515           20,985           (58,463)          (27,963)

Net loss for the period                            -               -                -            (2,059)           (2,059)
                                     ---------------  --------------   --------------   ---------------    --------------

Balance, September 30, 2006                9,515,000  $        9,515   $       20,985   $       (60,522)   $      (30,022)
                                     ===============  ==============   ==============   ===============    ==============
</table>



                             SEE ACCOMPANYING NOTES

<page>
                               DYNAMIC GOLD CORP.
                        (A Pre-exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                               September 30, 2006
                             (Stated in US Dollars)
                                   (Unaudited)


Note 1        Interim Financial Statements

              While the information  presented in the accompanying  three months
              to September 30, 2006 interim  financial  statements is unaudited,
              it  includes  all  adjustments   which  are,  in  the  opinion  of
              management,  necessary to present  fairly the financial  position,
              results  of  operations  and cash  flows  for the  interim  period
              presented in accordance with the accounting  principles  generally
              accepted  in the  United  States of  America.  In the  opinion  of
              management,  all  adjustments  considered  necessary  for  a  fair
              presentation  of the results of operations and financial  position
              have  been  included  and all  such  adjustments  are of a  normal
              recurring nature. It is suggested that these financial  statements
              be read in conjunction  with the Company's June 30, 2006 financial
              statements.

              Operating  results for the three months ended  September  30, 2006
              are not necessarily indicative of the results that can be expected
              for the year ending June 30, 2007.

Note 2        Continuance of Operations

              These  financial  statements have been prepared in accordance with
              generally  accepted  accounting  principles  applicable to a going
              concern,  which  assumes that the Company will be able to meet its
              obligations  and  continue  its  operations  for its  next  twelve
              months.  Realization  values may be  substantially  different from
              carrying  values as shown and these  financial  statements  do not
              give effect to adjustments that would be necessary to the carrying
              values and  classification  of assets and  liabilities  should the
              Company be unable to continue as a going concern. At September 30,
              2006, the Company had not yet achieved profitable operations,  has
              accumulated  losses of $60,522 since its inception,  has a working
              capital  deficiency of $30,022 and expects to incur further losses
              in the development of its business, all of which casts substantial
              doubt about the Company's  ability to continue as a going concern.
              The Company's  ability to continue as a going concern is dependent
              upon its ability to generate future  profitable  operations and/or
              to obtain the  necessary  financing  to meet its  obligations  and
              repay its liabilities arising from normal business operations when
              they come due.  Management  has no formal plan in place to address
              this concern but considers that the Company will be able to obtain
              additional   funds  by  equity   financing  and/or  related  party
              advances,  however  there is no  assurance of  additional  funding
              being available.

              The Company was incorporated in the State of Nevada on January 21,
              2004.

<page>

Dynamic Gold Corp.
(A Pre-exploration Stage Company)
Notes to the Interim Financial Statements
September 30, 2006
(Stated in US Dollars)
(Unaudited) - Page 2
 ---------

Note 3        Mineral Property

              Sobeski Lake Gold Property

              The Company acquired a 100% undivided right, title and interest in
              and to the 24 claim units,  known as Sobeski  Lake Gold  Property,
              located  in the  Red  Lake  Mining  District  in the  province  of
              Ontario, Canada, for a $3,500 cash payment during the period ended
              June 30, 2004.  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.

Note 4        Loan Payable

              The  loan  from  the   director  of  the  Company  is   unsecured,
non-interest bearing and is due March 31, 2007.

<page>

Forward-Looking Statements

This Form 10-QSB 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.

Item 2. Plan of Operation

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. We have enough funds on hand to complete the first phase of stage
one.  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.

<page>

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 September 30, 2006

We did not earn any revenues during the three-month  period ending September 30,
2006. We incurred operating expenses in the amount of $2,059 for the three-month
period  ended  September  30,  2006,  as compared to a net loss of $4,560 in the
comparative  period in fiscal 2005.  The decrease in net loss was a result of an
decrease in  accounting  and audit fees,  as well as legal fees.  The  operating
expenses in the current  fiscal year were comprised of accounting and audit fees
of $2,000 and bank charges of $59.

At September 30, 2006, we had cash on hand of $2,131 and  liabilities of $32,153
consisting  of accounts  payable and accrued  liabilities  of $21,421 and a loan
from our president, Tim Coupland, for $10,732.

We have not  generated  any  revenue  since  inception  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.

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.

<page>

Item 3 Controls and Procedures

Evaluation of Disclosure Controls

We evaluated the  effectiveness of our disclosure  controls and procedures as of
September 30, 2006.  This  evaluation  was conducted by Tim Coupland,  our chief
executive officer and our principal accounting officer.

Disclosure  controls  are  controls  and other  procedures  that are designed to
ensure that  information that we are required to disclose in the reports we file
pursuant  to  the  Securities  Exchange  Act of  1934  is  recorded,  processed,
summarized and reported.

Limitations on the Effective of Controls

Our  management  does not expect that our  disclosure  controls or our  internal
controls over  financial  reporting  will prevent all error and fraud. A control
system, no matter how well conceived and operated,  can provide only reasonable,
but no absolute,  assurance  that the  objectives  of a control  system are met.
Further, any control system reflects limitations on resources,  and the benefits
of a control system must be considered  relative to its costs. These limitations
also include the realities that judgments in  decision-making  can be faulty and
that  breakdowns  can occur  because of simple  error or mistake.  Additionally,
controls  can be  circumvented  by the  individual  acts  of  some  persons,  by
collusion of two or more people or by management override of a control. A design
of a control  system is also  based upon  certain  assumptions  about  potential
future conditions;  over time, controls may become inadequate because of changes
in conditions,  or the degree of compliance  with the policies or procedures may
deteriorate.  Because of the inherent  limitations in a  cost-effective  control
system, misstatements due to error or fraud may occur and may not be detected.

Conclusions

Based upon their evaluation of our controls,  Tim Coupland,  our chief executive
officer and principal  accounting  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.  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.

PART II- OTHER INFORMATION

Item 1. Legal Proceedings

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

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

None.

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

None.

Item 5. Other Information

None.

<page>

Item 6. Exhibits and Report on Form 8-K

 31.1     Certification pursuant to Rule 13a-14(a) under the Securities
          Exchange Act of 1934
 31.2     Certification pursuant to Rule 13a-14(a) under the Securities
          Exchange Act of 1934
 32.1     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 32.2     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

We did not file any current reports on Form 8-K during the period.


SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

November 14, 2006


Dynamic Gold Corp.


/s/ Tim Coupland
------------------------------
Tim Coupland, President