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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB

(Mark One)

| | [X] | Quarterly report under Section 13 or
      15(d) of the Securities Exchange Act of 1934 
| | --- | ----------------------------------------------------------------------------------------
| |     |                                                                                         
| |     | For the quarterly
      period ended: September 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.                                                     
|-----------------------------------------------------------------------
|(Exact name of small business issuer as specified 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 V6B 1N2
      Canada        
|----------------------------------------------------------------------------------------
|(Address of principal executive offices)                                                
|                                                                                        
|(604) 488-0860                                                                          
|(Issuers telephone number)                                                             
|                                                                                        
|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 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 [ ]

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

Yes [X] No [ ]

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 Shares
of $0.001 par value Common Stock outstanding as of November 9,2007.

Transitional Small Business Disclosure Format Yes [ ] No
[X]

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TABLE OF CONTENTS

PART 1  FINANCIAL INFORMATION

|ITEM 1  FINANCIAL STATEMENTS                                             | 3 
|------------------------------------------------------------------------- | --
|                                                                          |   
|ITEM 2  MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF
      OPERATION  | 17
|                                                                          |   
|ITEM 3  CONTROLS AND PROCEDURES                                          | 19
|                                                                          |   
|ITEM 3A(T)  CONTROLS AND PROCEDURES                                      | 20
|                                                                          |   
|PART II  OTHER INFORMATION                                              
|ITEM 1  LEGAL PROCEEDINGS                                                | 20
|                                                                          |   
|ITEM 2  UNREGISTERED SALES OF EQUITY SECURITES AND USE OF
      PROCEEDS | 20
|                                                                          |   
|ITEM 3  DEFAULTS UPON SENIOR SECURITIES                                  | 20
|                                                                          |   
|ITEM 4  SUBMISSION OF MATTERS TO A VOTE OF SECURITY
      HOLDERS        | 20
|                                                                          |   
|ITEM 5  OTHER INFORMATION                                                | 20
|                                                                          |   
|ITEM 6  EXHIBITS                                                         | 21

2

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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.

PART 1  FINANCIAL INFORMATION

ITEM 1  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 unaudited financial statements
included in the Form 10-QSB 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 periods
presented are not necessarily indicative of the results to be expected for the
full year.

3

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Dynamic Gold Corp.(A Development Stage Company)

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

****4

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|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Balance Sheets               
|(Expressed in U.S. Dollars)  
|(Unaudited)                  

|                                                  | As at 30  |   | As at 30 
|------------------------------------------------- | --------- | - | ---------
|                                                  | September |   | June 2007
|                                                  | 2007      |   | (Audited)
|                                                  | **$**     |   | **$**    
|                                                  |           |   |          
|Assets                                            |           |   |          
|                                                  |           |   |          
|Current                                           |           |   |          
|Cash and cash equivalents                         | 3,758     |   | 6,653    
|                                                  |           |   |          
|                                                  |           |   |          
|Liabilities                                       |           |   |          
|                                                  |           |   |          
|Current                                           |           |   |          
|Accounts payable and accrued liabilities (Note 4) | 24,051    |   | 22,129   
|Due to related party (Note 5)                     | 30,732    |   | 30,732   
|                                                  |           |   |          
|                                                  | 54,783    |   | 52,861   
|                                                  |           |   |          
|Shareholders deficiency                          |           |   |          
|Capital stock(Note 6)                             |           |   |          
|Authorized                                        |           |   |          
|75,000,000 shares, $0.001 par value               |           |   |          
|Issued and outstanding                            |           |   |          
|30 September 2007  9,515,000 common shares       |           |   |          
|30 June 2007  9,515,000 common shares            | 9,515     |   | 9,515    
|Additional paid-in capital                        | 52,485    |   | 36,585   
|Deficit, accumulated during the development stage | (113,025  | ) | (92,308  
|                                                  |           |   |          
|                                                  | (51,025   | ) | (46,208  
|                                                  |           |   |          
|                                                  | 3,758     |   | 6,653    
|Nature and Continuance of Operations(Note 1)      |           |   |          

On behalf of the Board:

|/ s / Tim Coupland | Director | / s /
      Robert Hall | Director
|------------------ | -------- | ----------------------- | --------

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

5

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

|                                            |  | For the period   |   |  |               |   |  |               |  
|------------------------------------------- |  | ---------------- | - |  | ------------- | - |  | ------------- | -
|                                            |  | from the date of |   |  | For the three |   |  | For the three |  
|                                            |  | inception on 21  |   |  | month period  |   |  | month period  |  
|                                            |  | January 2004 to  |   |  | ended 30      |   |  | ended 30      |  
|                                            |  | 30 September     |   |  | September     |   |  | September     |  
|                                            |  | 2007             |   |  | 2007          |   |  | 2006          |  
|                                            |  | $                |   |  | $             |   |  | $             |  
|                                            |  |                  |   |  |               |   |  |               |  
|Expenses                                    |  |                  |   |  |               |   |  |               |  
|Acquisition of mineral property (Note 3)    |  | 10,607           |   |  | -             |   |  | -             |  
|Advertising and promotion                   |  | 668              |   |  | -             |   |  | -             |  
|Bank charges and interest                   |  | 688              |   |  | 57            |   |  | 59            |  
|Filing and financing fees                   |  | 7,362            |   |  | 744           |   |  | -             |  
|Legal and accounting                        |  | 61,626           |   |  | 3,863         |   |  | 2,000         |  
|Management fees (Notes 7 and 9)             |  | 27,000           |   |  | 15,000        |   |  | -             |  
|Office and miscellaneous                    |  | 574              |   |  | 153           |   |  | -             |  
|Rent (Notes 7 and 9)                        |  | 4,500            |   |  | 900           |   |  | -             |  
|                                            |  |                  |   |  |               |   |  |               |  
|Net loss for the period                     |  | (113,025         | ) |  | (20,717       | ) |  | (2,059        | )
|                                            |  |                  |   |  |               |   |  |               |  
|Deficit, accumulated during the development |  |                  |   |  |               |   |  |               |  
|stage, beginning of period                  |  | -                |   |  | (92,308       | ) |  | (58,463       | )
|                                            |  |                  |   |  |               |   |  |               |  
|Deficit, accumulated during the development |  |                  |   |  |               |   |  |               |  
|stage, end of period                        |  | (113,025         | ) |  | (113,025      | ) |  | (60,522       | )
|                                            |  |                  |   |  |               |   |  |               |  
|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.

6

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

|                                                                  |  | For the period     |   |  |               |   |  |               |  
|----------------------------------------------------------------- |  | ------------------ | - |  | ------------- | - |  | ------------- | -
|                                                                  |  | from the date      |   |  | For the three |   |  | For the three |  
|                                                                  |  | of inception on 21 |   |  | month period  |   |  | month period  |  
|                                                                  |  | January 2004 to    |   |  | ended 30      |   |  | ended 30      |  
|                                                                  |  | 30 September       |   |  | September     |   |  | September     |  
|                                                                  |  | 2007               |   |  | 2007          |   |  | 2006          |  
|                                                                  |  | $                  |   |  | $             |   |  | $             |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|Cash flows from operating activities                              |  |                    |   |  |               |   |  |               |  
|Net loss for the period                                           |  | (113,025           | ) |  | (20,717       | ) |  | (2,059        | )
|Adjustments to reconcile loss to net
      cash used by           |  |                    |   |  |               |   |  |               |  
|operating activities                                              |  |                    |   |  |               |   |  |               |  
|Contributions to capital by related
      party  expenses        |  |                    |   |  |               |   |  |               |  
|(Notes 7 and 9)                                                   |  | 31,500             |   |  | 15,900        |   |  | -             |  
|Changes in operating assets and liabilities                       |  |                    |   |  |               |   |  |               |  
|Decrease in prepaid expenses                                      |  | -                  |   |  | -             |   |  | 2,000         |  
|Increase in accounts payable and
      accrued                    |  |                    |   |  |               |   |  |               |  
|liabilities (Note 4)                                              |  | 24,051             |   |  | 1,922         |   |  | -             |  
|Increase in due to related party (Note
      5)                   |  | 30,732             |   |  | -             |   |  | -             |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|                                                                  |  | (26,742            | ) |  | (2,895        | ) |  | (59           | )
|                                                                  |  |                    |   |  |               |   |  |               |  
|Cash flows from financing activity                                |  |                    |   |  |               |   |  |               |  
|Issuance of common shares for cash                                |  | 30,500             |   |  | -             |   |  | -             |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|Increase (decrease) in cash and cash equivalents                  |  | 3,758              |   |  | (2,895        | ) |  | (59           | )
|                                                                  |  |                    |   |  |               |   |  |               |  
|Cash and cash equivalents, beginning of period                    |  | -                  |   |  | 6,653         |   |  | 2,190         |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|Cash and cash equivalents, end of period                          |  | 3,758              |   |  | 3,758         |   |  | 2,131         |  
|                                                                  |  |                    |   |  |               |   |  |               |  
|Supplemental Disclosures with Respect to Cash
      Flows(Note 9) |  |                    |   |  |               |   | 

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

7

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

|                                    |  |           |  |  |         |  |  |            |  |  | 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                    |  | -         |  |  | -       |  |  | 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       | )
|Contributions to capital by related |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|party  expenses (Notes 7 and 9)    |  | -         |  |  | -       |  |  | 15,900     |  |  | -           |   |  | 15,900        |  
|Net loss for the period             |  | -         |  |  | -       |  |  | -          |  |  | (20,717     | ) |  | (20,717       | )
|                                    |  |           |  |  |         |  |  |            |  |  |             |   |  |               |  
|Balance at 30 September 2007        |  | 9,515,000 |  |  | 9,515   |  |  | 52,485     |  |  | (113,025    | ) |  | (51,025       | )

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

8

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|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|(Unaudited)                  
|30 September
      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 September 2007 and for the three month period 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 $20,717 for the three month period ended 30
September 2007 (30 September 2006 - $2,059, cumulative -$113,025) and has a
working capital deficit of $51,025 at 30 September 2007 (30 June 2007 -
$46,208).

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 fiscal 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 September 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.

9

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

Basis of presentation

These financial statements have peen
prepared in accordance with accounting principles generally accepted in the
United States of America (GAAP) for interim financial information.
Accordingly, they do not include all of the information and footnotes required
by GAAP for complete financial statements. In the opinion of management,
adjustments (consisting of normal recurring accruals) considered necessary for
fair presentation have been included. Operating results for the three month
period ended 30 September 2007 are not necessarily indicative of the results
that may be expected for the year ended 30 June 2008. For further information,
refer to the audited financial statements of the Company for the year ended 30
June 2007.

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.

10

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

11

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

12

---

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

13

---

|Dynamic Gold Corp.           
|-----------------------------
|(A Development Stage Company)
|Notes to Financial Statements
|(Expressed in U.S. Dollars)  
|(Unaudited)                  
|30 September
      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 (30 September 2006 - $10,732) is due to a director and 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.

14

---

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

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

During the three month period ended 30
September 2007, an officer and director of the Company made contributions to
capital for management fees in the amount of $15,000 (30 September 2006 - $Nil,
cumulative - $27,000) and for rent in the amount of $900 (30 September 2006 -
$Nil, cumulative -$4,500) (Note 9).

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

The Company has losses carried forward
for income tax purposes to 30 September 2007. There are no current or deferred
tax expenses for the period ended 30 September 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 carry-forward 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 three  |   |  | For the three  |  
| | --------------------------------------------- |  | -------------- | - |  | -------------- | -
| |                                               |  | month period   |   |  | month period   |  
| |                                               |  | ended 30       |   |  | ended 30       |  
| |                                               |  | September 2007 |   |  | September 2006 |  
| |                                               |  | $              |   |  | $              |  
| |                                               |  |                |   |  |                |  
| | Refundable federal tax asset attributable to: |  |                |   |  |                |  
| | Current operations                            |  | 7,044          |   |  | 700            |  
| | Contributions to capital by related parties   |  | (5,406         | ) |  | -              |  
| | Less: Change in valuation allowance           |  | (1,638         | ) |  | (700           | )
| |                                               |  |                |   |  |                |  
| | Net refundable amount                         |  | -              |   |  | -              |  

15

---

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

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

| |                                   | As at 30  |   | As at 30 June
| | --------------------------------- | --------- | - | -------------
| |                                   | September |   | 2007         
| |                                   | 2007      |   | (Audited)    
| |                                   | **$**     |   | **$**        
| |                                   |           |   |              
| | Net operating loss carry-forward  | 113,025   |   | 92,308       
| |                                   |           |   |              
| | Statutory federal income tax rate | 34%       |   | 34%          
| | Contributed rent and services     | -9.48%    |   | -5.75%       
| | Effective income tax rate         | 0%        |   | 0%           
| |                                   |           |   |              
| | Deferred tax asset                | 27,719    |   | 26,081       
| | Less: Valuation allowance         | (27,719   | ) | (26,081      
| |                                   |           |   |              
| | Net deferred tax asset            | -         |   | -            

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

As at 30 September 2007, the Company
has an unused net operating loss carry-forward balance of approximately $81,525
that is available to offset future taxable income. This unused net operating
loss carry-forward balance expires in 2026.

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

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

During the three month period ended 30
September 2007, an officer and director of the Company made contributions to
capital for management fees in the amount of $15,000 (30 September 2006 - $Nil,
cumulative - $27,000) and for rent in the amount of $900 (30 September 2006 -
$Nil, cumulative -$4,500) (Note 7).

16

---

ITEM 2  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 September 30,
2007

We have not earned any revenues from our incorporation on
January 21, 2004 to September 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.

We incurred net losses of $20,717 for the three month period
ended September 30, 2007 compared to a net loss of $2,059 for the three month
period ended September 30, 2006. The increase in net loss is mainly attributed
to legal and accounting fees, management fees and rent.

17

---

Legal and accounting fees increased to $3,863 for the three
month period ended September 30, 2007 from $2,000 for the three month period
ended September 30, 2006. The increase in legal and accounting fees period over
period is due mainly to professional fees incurred to prepare and file our
regulatory quarterly and annual filings with the United States Securities and
Exchange Commission.

During the three month period ended September 30, 2007, an
officer and director of the Company made contributions to capital for management
fees in the amount of $15,000 (30 September 2006: $Nil) and for rent in the
amount of $900 (30 September 2006: $Nil).

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 September 30, 2007, we had cash on hand of $3,758 and
liabilities of $54,783 consisting of accounts payable and accrued liabilities of
$24,051 and a loan 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 September 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.

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.

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.

18

---

ITEM 3  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 September 30, 2007, 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
quarterly report on Form 10-QSB 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 September 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 quarterly 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.

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.

19

---

Changes in Internal Controls

Based on the evaluation as of September 30, 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 3A(T)  CONTROLS AND PROCEDURES

See Item 8A  Controls and Procedures above.

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  UNREGISTERED SALES OF EQUITY SECURITES AND USE OF
PROCEEDS

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

20

---

ITEM 6  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 commission on April 30, 2007.

SIGNATURE

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.

DYNAMIC GOLD CORP.

| | BY: | / s / Tim Coupland                                        | 
| | --- | --------------------------------------------------------- | 
| |     | Tim Coupland, President and Chief Executive
      Officer | 
| |     |                                                           | 
| |     |                                                           | 
| |     |                                                           | 
| | BY: | / s / Ann-Marie Cederholm                                 | 
| |     | Ann-Marie Cederholm, Chief Financial Officer              | 

21

---

Exhibit 31.a

CERTIFICATION

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

|1. | I have reviewed this quarterly 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: November 9, 2007

/ s / Tim CouplandTim Coupland, President and CEO


(Principal Executive Officer)

22

---

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 this quarterly 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: November 9, 2007

/ s / Ann-Marie
      CederholmAnn-Marie Cederholm, CFO


(Principal Accounting Officer)

23

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Exhibit 32.aCERTIFICATION PURSUANT
TO18 U.S.C. SECTION 1350AS ADOPTED PURSUANT
TOSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Dynamic Gold Corp.
(the "Company") on Form 10-QSB for the quarterly period ended September 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 OfficerNovember 9, 2007/ s / Ann-Marie
      CederholmAnn-Marie Cederholm, Principal Financial OfficerNovember 9, 2007


24

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