User blog comment:Mckrongs/Monster Hunter 4 for the Nintendo 3DS/@comment-3095304-20121109022243/@comment-4212769-20121110112212

Actually in one Famitsu scan (I think) it was revealed that Goa Magara isn't an Elder Dragon but belongs to a new species. I'm guessing it's a new subclass of Dragon as it has many characteristics of them.

So maybe it is a Dragon but not an Elder Dragon.