----

----

| þ QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------------------------------------------------------------------------------------------------------------|

| o TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|-----------------------------------------------------------------------------------------------------|

|   | GENERAL      METALS CORPORATION                             |   |
|--------|-------------------------------------------------------------|--------|
|   | (Exact      name of registrant as specified in its charter) |   |

| Delaware                                                            |   | 65-0488983                             |
|---------------------------------------------------------------------|--------|----------------------------------------|
| (State      or other jurisdiction of incorporation or organization) |   | (IRS      Employer Identification No.) |

| 615      Sierra Rose Drive, Suite 1, Reno NV  |   | 89511           |
|-----------------------------------------------|--------|-----------------|
| (Address      of principal executive offices) |   | (Zip      Code) |

|   | 775.583.4636                                                    |   |
|--------|-----------------------------------------------------------------|--------|
|   | (Registrant’s      telephone number, including area code) |   |

|   |  N/A                                                                                    |   |
|--------|----------------------------------------------------------------------------------------------|--------|
|   | (Former      name, former address and former fiscal year, if changed since last      report) |   |

| Large      accelerated filer                                                 | o             | Accelerated      filer         | o      |
|------------------------------------------------------------------------------|---------------|--------------------------------|--------|
| Non-accelerated      filer(Do      not check if a smaller reporting company) | o   | Smaller      reporting company | þ |

----

----

----

|                                                                                                                                                                                 |   | January      31, |       |   | April      30 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------|--------|---------------|--------|
|                                                                                                                                                                                 |   | 2010             |       |   | 2009          |   |
| ASSETS                                                                                                                                                                               |   |             |       |   |          |   |
| Current      assets                                                                                                                                                                  |   |             |       |   |          |   |
| Short-term      investments                                                                                                                                                          |   | $                | 355,895    |   |          | $      | 1,275,000 |   |
| Prepaid      expenses                                                                                                                                                                |   |             | 48,906     |   |          |   | 379,019 |   |
| Other      receivables                                                                                                                                                               |   |             | 21,733     |   |          |   | 237,500 |   |
| Other      current assets                                                                                                                                                            |   |             | -          |   |          |   | 245 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      current assets                                                                                                                                                            |   |             | 426,534    |   |          |   | 1,891,764 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Other      assets                                                                                                                                                                    |   |             |       |   |          |   |   |   |
| Land                                                                                                                                                                                 |   |             | 67,742     |   |          |   | 67,767 |   |
| Mineral      property                                                                                                                                                                |   |             | 613,941    |   |          |   | 613,941 |   |
| Property      and equipment, net                                                                                                                                                     |   |             | 24,633     |   |          |   | 25,733 |   |
| Other      assets                                                                                                                                                                    |   |             | 37,800     |   |          |   | 17,444 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      other assets                                                                                                                                                              |   |             | 744,116    |   |          |   | 724,885 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      assets                                                                                                                                                                    |   | $                | 1,170,650  |   |          | $      | 2,616,649 |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                            |   |             |       |   |          |   |   |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Current      Liabilities                                                                                                                                                             |   |             |       |   |          |   |   |   |
| Cash      deficit                                                                                                                                                                    |   | $                | 263        |   |          | $      | 20,057 |   |
| Notes      payable, current portion                                                                                                                                                  |   |             | 106,654    |   |          |   | 2,898 |   |
| Accounts      payable                                                                                                                                                                |   |             | 442,482    |   |          |   | 429,355 |   |
| Accrued      liabilities                                                                                                                                                             |   |             | 120,325    |   |          |   | 216,974 |   |
| Liabilities      to related parties                                                                                                                                                  |   |             | 91,298     |   |          |   | 36,073 |   |
| Loan      from related parties                                                                                                                                                       |   |             | 33,800     |   |          |   | 33,680 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      current liabilities                                                                                                                                                       |   |             | 794,822    |   |          |   | 739,037 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Long-term      liabilities                                                                                                                                                           |   |             |       |   |          |   |   |   |
| Notes      payable, net of current portion                                                                                                                                           |   |             | 42,946     |   |          |   | 44,143 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      long-term liabilities                                                                                                                                                     |   |             | 42,946     |   |          |   | 44,143 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      liabilities                                                                                                                                                               |   |             | 837,768    |   |          |   | 783,180 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Commitments      and Contingencies                                                                                                                                                   |   |             |       |   |          |   |   |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Stockholders'      equity                                                                                                                                                            |   |             |       |   |          |   |   |   |
| Preferred      stock, authorized 50,000,000shares, par value $0.001, zero      issued andoutstanding                                                                                 |   |             | -          |   |          |   | - |   |
|                                                                                                                                                                                 |   |             |       |   |          |
| Common      stock, authorized 220,000,000shares, par value $0.001, issued andoutstanding on      January 31, 2010 and April 30, 2009is 219,021,625 and 168,183,494      respectively |   |             | 219,022    |   |          |   | 168,184 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Additional      paid-in capital                                                                                                                                                      |   |             | 9,421,530  |   |          |   | 7,974,740 |   |
| Subscriptions      (receivable)                                                                                                                                                      |   |             | (44,137    | )      |          |   | (151,012 | ) |
| Accumulated      other comprehensive income/(loss)                                                                                                                                   |   |             | (1,130,461 | )      |          |   | 25,000 |   |
| Accumulated      deficit during exploration stage                                                                                                                                    |   |             | (8,133,072 | )      |          |   | (6,183,443 | ) |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      stockholders' equity                                                                                                                                                      |   |             | 332,882    |   |          |   | 1,833,469 |   |
|                                                                                                                                                                                 |   |             |       |   |          |   |   |   |
| Total      liabilities and stockholders' equity                                                                                                                                      |   | $                | 1,170,650  |   |          | $      | 2,616,649 |   |

----

|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   | March      15, 2006 |        |
|---------------------------------------------|--------|-------------------------------------|-------------|--------|------------------------------------|--------|-------------|---------------------|--------|--------|-------------|--------|--------|---------------------|-------------|
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   | (Inception)         |        |
|                                        |   | Three      Months Ended January 31, |        |   | Nine      Months Ended January 31, |   |        | to      January 31, |   |
|                                        |   | 2010                                |        |   | 2009                               |   |        | 2010                |   |   | 2009        |   |   | 2010                |        |
| Revenue                                     |   | $                                   | -           |   |                               | $      | -           |                |   | $      | -           |   |   | $                   | -           |   |   | $ | - |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Operating      expenses                     |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Depreciation      and amortization          |   |                                | 2,270       |   |                               |   | 1,608       |                |   |   | 5,668       |   |   |                | 4,824       |   |   |   | 22,983 |   |
| General      and administrative             |   |                                | 121,818     |   |                               |   | (20,465     | )                   |   |   | 191,207     |   |   |                | 82,666      |   |   |   | 1,316,816 |   |
| Management      and consulting              |   |                                | 117,330     |   |                               |   | 347,360     |                |   |   | 820,724     |   |   |                | 691,033     |   |   |   | 5,092,493 |   |
| Exploration      and development            |   |                                | 331,239     |   |                               |   | 45,643      |                |   |   | 761,470     |   |   |                | 783,419     |   |   |   | 2,413,980 |   |
| Professional      fees                      |   |                                | 36,937      |   |                               |   | 26,898      |                |   |   | 163,748     |   |   |                | 76,094      |   |   |   | 525,164 |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Total      expenses                         |   |                                | 609,594     |   |                               |   | 401,044     |                |   |   | 1,942,817   |   |   |                | 1,638,036   |   |   |   | 9,371,436 |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| (Loss)      from operations                 |   |                                | (609,594    | )      |                               |   | (401,044    | )                   |   |   | (1,942,817  | )      |   |                | (1,638,036  | ) |   |   | (9,371,436 | ) |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Other      income (expenses)                |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Interest      expense                       |   |                                | (1,287      | )      |                               |   | (57         | )                   |   |   | (4,906      | )      |   |                | (12,823     | ) |   |   | (21,009 | ) |
| Gain      on sale of mineral properties     |   |                                | -           |   |                               |   | -           |                |   |   | -           |   |   |                | 1,249,072   |   |   |   | 1,249,072 |   |
| Realized      (loss) on sale of investments |   |                                | -           |   |                               |   | -           |                |   |   | (1,906      | )      |   |                | -           |   |   |   | (1,906 | ) |
| Other      income                           |   |                                | -           |   |                               |   | 2,500       |                |   |   | -           |   |   |                | 2,500       |   |   |   | 5,000 |   |
| Gain      on foreign currency exchange      |   |                                | -           |   |                               |   | -           |                |   |   | -           |   |   |                | -           |   |   |   | 7,207 |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Net      (loss) before income taxes         |   |                                | (610,881    | )      |                               |   | (398,601    | )                   |   |   | (1,949,629  | )      |   |                | (399,287    | ) |   |   | (8,133,072 | ) |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Provision      for income taxes             |   |                                | -           |   |                               |   | -           |                |   |   | -           |   |   |                | -           |   |   |   | - |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Net      (loss)                             |   | $                                   | (610,881    | )      |                               | $      | (398,601    | )                   |   | $      | (1,949,629  | )      |   | $                   | (399,287    | ) |   | $ | (8,133,072 | ) |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Earnings      per common share:             |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Basic      & diluted                    |   | $                                   | (0.00       | )      |                               | $      | (0.00       | )                   |   | $      | (0.01       | )      |   | $                   | (0.00       | ) |   |   |   |   |
|                                        |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Weighted      average shares outstanding:   |   |                                |        |   |                               |   |        |                |   |   |        |   |   |                |        |   |   |   |   |   |
| Basic      & diluted                    |   |                                | 219,224,629 |   |                               |   | 122,249,450 |                |   |   | 208,066,407 |   |   |                | 111,134,788 |   |   |   |   |   |

----

|                                        |   |   |              |       |   |   |   |   |         |   |   | (Deficit)     |   |   |        |     |   |          |   |
|---------------------------------------------|--------|--------|-------------------|------------|--------|--------|--------|--------|--------------|--------|--------|---------------|--------|--------|-------------|----------|--------|---------------|--------|
|                                        |   |   |              |       |   |   |   |   |         |   |   | Accumulated   |   |   | Accumulated |     |   |          |   |
|                                        |   |   | Common      Stock |       |   |   |   |   | Stock        |   |   | During        |   |   | Other       |     |   |          |   |
|                                        |   |   | Issued            |       |   |   |   |   | Paid      in |   |   | Subscriptions |   |   | Exploration |     |   | Comprehensive |   |   | Total |   |
|                                        |   |   | Shares            |       |   | Amount |   |   | Capital      |   |   | (Receivable)  |   |   | Stage       |     |   | Income/(Loss) |   |   | Equity |   |
|                                        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |
|                                        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Balance,      April 30, 2005                |   |   |              | 31,354,400 |   |   | $      | 31,354 |         |   | $      | 450,523       |   |   | $           | (127,500 | )      |          | $      | (208,251 | ) |   |   | - |   |   | $ | 146,126 |   |
|                                        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Cash      Received for Subscriptions        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Receivable                                  |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        | 127,500  |   |          |   |   |   |   |   |   |   |   |   | 127,500 |   |
| Common      Stock Issued for Cash at $0.25  |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 44,000     |   |   |   | 44     |         |   |   | 4,956         |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 5,000 |   |
| Common      Stock Issued for Cash at $0.125 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 26,400     |   |   |   | 26     |         |   |   | 2,974         |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 3,000 |   |
| Common      Stock Issued at $0.001 to       |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| exercise      lease agreement               |   |   |              | 5,500,000  |   |   |   | 5,500  |         |   |   | 530,350       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 535,850 |   |
| Common      Stock Issued for Cash at $0.125 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 2,782,450  |   |   |   | 2,782  |         |   |   | 313,406       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 316,188 |   |
| Common      Stock Issued in Reorganization  |   |   |              | 8,436,541  |   |   |   | 8,437  |         |   |   | (787,983      | )      |   |        |     |   |          |   | 208,251 |   |   |   |   |   |   |   | (571,295 | ) |
| Common      Stock Issued to Convert Debt at |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| 0.0185      as Agreed in February 2005      |   |   |              | 22,034,546 |   |   |   | 22,035 |         |   |   | 591,998       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 614,033 |   |
| Common      Stock Issued as Incentive       |   |   |              | 550,000    |   |   |   | 550    |         |   |   | (50           | )      |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 500 |   |
| Common      Stock Returned and Cancelled    |   |   |              | (550,000   | )      |   |   | (550   | )            |   |   | 50            |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | (500 | ) |
| Common      Stock Issued in Exercise of     |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Warrants      at $0.25                      |   |   |              | 702,900    |   |   |   | 703    |         |   |   | 159,047       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 159,750 |   |
|        Net (Loss)                      |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   | (637,068 | ) |   |   |   |   |   |   | (637,068 | ) |
| Balance,      April 30, 2006                |   |   |              | 70,881,237 |   |   |   | 70,881 |         |   |   | 1,265,271     |   |   |        | -        |   |          |   | (637,068 | ) |   |   | - |   |   |   | 699,084 |   |
|                                        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Deposit      received on Private Placement  |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        | 76,000   |   |          |   |   |   |   |   |   |   |   |   | 76,000 |   |
| Common      Stock Issued in Exercise of     |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Warrants      at $0.25                      |   |   |              | 110,000    |   |   |   | 110    |         |   |   | 24,890        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 25,000 |   |
| Common      Stock Issued for Cash at $0.125 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 440,000    |   |   |   | 440    |         |   |   | 49,560        |   |   |        | (50,000  | )      |          |   |   |   |   |   |   |   |   |   | - |   |
| Common      Stock Issued for Service at     |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| $0.125      per share                       |   |   |              | 158,400    |   |   |   | 158    |         |   |   | 17,842        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 18,000 |   |
| Common      Stock Issued for Purchase of    |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| fixed      asset at $0.075                  |   |   |              | 220,000    |   |   |   | 220    |         |   |   | 14,780        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 15,000 |   |
| Common      Stock Issued for Cash at $0.075 |   |   |              | 164,495    |   |   |   | 164    |         |   |   | 11,052        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 11,216 |   |
| Common      Stock Issued for Services at    |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| $0.075      per share                       |   |   |              | 330,000    |   |   |   | 330    |         |   |   | 22,170        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 22,500 |   |
| Common      Stock Issued to Convert Debt    |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| $0.075      per share                       |   |   |              | 513,333    |   |   |   | 513    |         |   |   | 34,487        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 35,000 |   |
| Common      Stock Issued for Cash at $0.075 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 3,770,063  |   |   |   | 3,770  |         |   |   | 253,280       |   |   |        | (163,800 | )      |          |   |   |   |   |   |   |   |   |   | 93,250 |   |
| Common      Stock Issued for Cash at $0.075 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| For      Exploration Rights                 |   |   |              | 1,100,000  |   |   |   | 1,100  |         |   |   | 249,828       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 250,928 |   |
| Common      Stock Issued for Cash at $0.075 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| For      Employee Incentive                 |   |   |              | 275,000    |   |   |   | 275    |         |   |   | 18,475        |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 18,750 |   |
| Common      Stock Issued for Cash at $0.125 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 2,332,000  |   |   |   | 2,332  |         |   |   | 262,668       |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 265,000 |   |
| Common      Stock Issued for Cash at $0.125 |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| In      Private Placement                   |   |   |              | 363,440    |   |   |   | 363    |         |   |   | 40,937        |   |   |        | (41,300  | )      |          |   |   |   |   |   |   |   |   |   | - |   |
| Cash      Received for Subscriptions        |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Receivable                                  |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        | 137,800  |   |          |   |   |   |   |   |   |   |   |   | 137,800 |   |
| Stock-based      compensation expense       |   |   |              |       |   |   |   |   |         |   |   | 1,447,734     |   |   |        |     |   |          |   |   |   |   |   |   |   |   |   | 1,447,734 |   |
| Net      (Loss)                             |   |   |              |       |   |   |   |   |         |   |   |          |   |   |        |     |   |          |   | (2,087,666 | ) |   |   |   |   |   |   | (2,087,666 | ) |

----

|   |   |   |              |   |   |   |   |   |         |   |   | (Deficit)     |   |   |        |   |   |          |   |
|--------|--------|--------|-------------------|--------|--------|--------|--------|--------|--------------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------|--------|
|   |   |   |              |   |   |   |   |   |         |   |   | Accumulated   |   |   | Accumulated |   |   |          |   |
|   |   |   | Common      Stock |   |   |   |   |   | Stock        |   |   | During        |   |   | Other       |   |   |          |   |
|   |   |   | Issued            |   |   |   |   |   | Paid      in |   |   | Subscriptions |   |   | Exploration |   |   | Comprehensive |   |   | Total |   |
|   |   |   | Shares            |   |   | Amount |   |   | Capital      |   |   | (Receivable)  |   |   | Stage       |   |   | Income/(Loss) |   |   | Equity |   |

| Balance,      April 30, 2007                  |   |   |   | 80,657,967 |   |   |   | 80,656 |   |   |   | 3,712,974 |   |   |   | (41,300  | )      |   |   | (2,724,734 | )      |   |   | -      |   |   |   | 1,027,596  |   |
|-----------------------------------------------|--------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|--------|--------|----------|--------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|------------|--------|
|                                          |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Common Stock issued to convert      Debt at   |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| $0.075      per share                         |   |   |   | 513,333    |   |   |   | 513    |   |   |   | 34,487    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 35,000     |   |
| Common      Stock Issued for Cash at $0.125   |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 667,040    |   |   |   | 667    |   |   |   | 75,133    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 75,800     |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.075        |   |   |   | 2,520,979  |   |   |   | 2,522  |   |   |   | 157,243   |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 159,765    |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.20         |   |   |   | 654,500    |   |   |   | 655    |   |   |   | 118,345   |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 119,000    |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.125        |   |   |   | 44,000     |   |   |   | 44     |   |   |   | 4,956     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 5,000      |   |
| Common      Stock Issued for purchase of      |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| asset      at $0.125                          |   |   |   | 132,000    |   |   |   | 132    |   |   |   | 14,868    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 15,000     |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.20         |   |   |   | 216,000    |   |   |   | 216    |   |   |   | 42,984    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 43,200     |   |
| Common      Stock Issued for Cash at $0.125   |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 52,470     |   |   |   | 53     |   |   |   | 6,506     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 6,559      |   |
| Cash      Received for Subscriptions          |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Receivable                                    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   | 50,300   |   |   |   |       |   |   |   |   |   |   |   | 50,300     |   |
| Common      Stock Issued for Cash at $0.20    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 2,503,000  |   |   |   | 2,503  |   |   |   | 484,497   |   |   |   | (160,000 | )      |   |   |       |   |   |   |   |   |   |   | 327,000    |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.07         |   |   |   | 733,334    |   |   |   | 733    |   |   |   | 49,267    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 50,000     |   |
| Common      Stock Issued for Cash at $0.15    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 900,000    |   |   |   | 900    |   |   |   | 134,100   |   |   |   | (35,000  | )      |   |   |       |   |   |   |   |   |   |   | 100,000    |   |
| Cash      Received for Subscriptions          |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Receivable                                    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   | 151,000  |   |   |   |       |   |   |   |   |   |   |   | 151,000    |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.068        |   |   |   | 146,667    |   |   |   | 147    |   |   |   | 9,853     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 10,000     |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase Warrants at $0.10         |   |   |   | 110,000    |   |   |   | 110    |   |   |   | 7,390     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 7,500      |   |
| Common      Stock Issued in Exercise of Share |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Purchase      warrants at $0.114              |   |   |   | 176,000    |   |   |   | 176    |   |   |   | 19,824    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 20,000     |   |
| Common      Stock Issued for services to the  |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| advisory      board at $0.15                  |   |   |   | 2,000,000  |   |   |   | 2,000  |   |   |   | 298,000   |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 300,000    |   |
| Common      Stock Issued for Cash at $0.15    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 100,000    |   |   |   | 100    |   |   |   | 14,900    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 15,000     |   |
| Common      Stock Issued in Exercise of Share |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Purchase      warrants at $0.075              |   |   |   | 86,667     |   |   |   | 87     |   |   |   | 8,913     |   |   |   | (9,000   | )      |   |   |       |   |   |   |   |   |   |   | -          |   |
| Common      Stock Issued in Exercise of Share |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Purchase      warrants at $0.114              |   |   |   | 2,200      |   |   |   | 2      |   |   |   | 248       |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 250        |   |
| Common      Stock Issued for Cash at $0.20    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 590,000    |   |   |   | 590    |   |   |   | 58,410    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 59,000     |   |
| Common      Shares issued for Cash at $0.15   |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 44,299     |   |   |   | 44     |   |   |   | 6,601     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 6,645      |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase warrants at $0.068        |   |   |   | 146,300    |   |   |   | 147    |   |   |   | 9,853     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 10,000     |   |
| Common      Stock Issued for services         |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| at      $      0.125                          |   |   |   | 100,000    |   |   |   | 100    |   |   |   | 12,400    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 12,500     |   |
| Common      Stock Issued for Cash at $0.20    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 100,000    |   |   |   | 100    |   |   |   | 9,900     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 10,000     |   |
| Common      Stock Issued for Cash at $0.05    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| In      Private Placement                     |   |   |   | 400,000    |   |   |   | 400    |   |   |   | 19,600    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 20,000     |   |
| Common      Stock Issued in Exercise          |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| of      Share Purchase warrants at $0.05      |   |   |   | 275,000    |   |   |   | 275    |   |   |   | 13,475    |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 13,750     |   |
| Common      Stock Issued in Exercise of       |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Share      Purchase warrants at $0.085        |   |   |   | 29,412     |   |   |   | 30     |   |   |   | 2,470     |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 2,500      |   |
| Cash      Received for Subscriptions          |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   |       |   |
| Receivable                                    |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   | 38,500   |   |   |   |       |   |   |   |   |   |   |   | 38,500     |   |
| Stock-based      compensation expense         |   |   |   |       |   |   |   |   |   |   |   | 139,333   |   |   |   |     |   |   |   |       |   |   |   |   |   |   |   | 139,333    |   |
| Net      (Loss)                               |   |   |   |       |   |   |   |   |   |   |   |      |   |   |   |     |   |   |   | (1,982,382 | )      |   |   |   |   |   |   | (1,982,382 | )      |

----

|                                              |   |   |   | Common      Stock |   |   |   |   |   |   |   | Stock        |   |   |   | (Deficit)AccumulatedDuring |   |   |   | AccumulatedOther |   |   |   |          |   |
|---------------------------------------------------|--------|--------|--------|-------------------|--------|--------|--------|--------|--------|--------|--------|--------------|--------|--------|--------|----------------------------|--------|--------|--------|------------------|--------|--------|--------|---------------|--------|
|                                              |   |   |   | Issued            |   |   |   |   |   |   |   | Paid      in |   |   |   | Subscriptions              |   |   |   | Exploration      |   |   |   | Comprehensive |   |   |   | Total   |   |
|                                              |   |   |   | Shares            |   |   |   | Amount |   |   |   | Capital      |   |   |   | (Receivable)               |   |   |   | Stage            |   |   |   | Income/(Loss) |   |   |   | Equity |   |
|                                              |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| Balance,      April 30, 2008                      |   |   |   | 93,901,168        |   |   | $      | 93,902 |   |   | $      | 5,466,530    |   |   | $      | (5,500                     | )      |   | $      | (4,707,116       | )      |   | $      | -             |   |   | $ | 847,816 |   |
|                                              |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |   |
| Common      Stock Issued for Cash at $0.14        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 7,000,000         |   |   |   | 7,000  |   |   |   | 93,000       |   |   |   | (95,000                    | )      |   |   |             |   |   |   |          |   |   |   | 5,000 |   |
| Common      Stock Issued for Cash at $0.15        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 2,000,000         |   |   |   | 2,000  |   |   |   | 28,000       |   |   |   | (14,387                    | )      |   |   |             |   |   |   |          |   |   |   | 15,613 |   |
| Common      Stock Issued for Cash at $0.18        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 1,000,000         |   |   |   | 1,000  |   |   |   | 16,500       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 17,500 |   |
| Common      Stock Issued for Cash at $0.2         |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 8,400,000         |   |   |   | 8,400  |   |   |   | 159,600      |   |   |   | (15,000                    | )      |   |   |             |   |   |   |          |   |   |   | 153,000 |   |
| Common      Stock Issued for Cash at $0.25        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 2,502,000         |   |   |   | 2,502  |   |   |   | 59,998       |   |   |   | (1,000                     | )      |   |   |             |   |   |   |          |   |   |   | 61,500 |   |
| Common      Stock Issued for Cash at $0.05        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 8,274,000         |   |   |   | 8,274  |   |   |   | 380,326      |   |   |   | (34,000                    | )      |   |   |             |   |   |   |          |   |   |   | 354,600 |   |
| Common      Stock Issued for Cash at $0.075       |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 870,000           |   |   |   | 870    |   |   |   | 64,280       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 65,150 |   |
| Common      Stock Issued for Cash at $0.10        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 150,000           |   |   |   | 150    |   |   |   | 14,850       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 15,000 |   |
| Common      Stock Issued for Cash at $0.15        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| In      Private Placement                         |   |   |   | 416,000           |   |   |   | 416    |   |   |   | 30,784       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 31,200 |   |
| Common      Stock Issued in Exercise of           |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| Share      Purchase warrants at $0.085            |   |   |   | 33,930            |   |   |   | 34     |   |   |   | 2,841        |   |   |   | (625                       | )      |   |   |             |   |   |   |          |   |   |   | 2,250 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.017                                    |   |   |   | 750,000           |   |   |   | 750    |   |   |   | 12,250       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 13,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.02                                     |   |   |   | 3,500,000         |   |   |   | 3,500  |   |   |   | 66,500       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 70,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.021                                    |   |   |   | 4,250,000         |   |   |   | 4,250  |   |   |   | 85,000       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 89,250 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.024                                    |   |   |   | 2,500,000         |   |   |   | 2,500  |   |   |   | 57,500       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 60,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.025                                    |   |   |   | 1,000,000         |   |   |   | 1,000  |   |   |   | 24,000       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 25,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.029                                    |   |   |   | 581,396           |   |   |   | 581    |   |   |   | 20,326       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 20,907 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.03                                     |   |   |   | 10,000,000        |   |   |   | 10,000 |   |   |   | 290,000      |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 300,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.036                                    |   |   |   | 11,000,000        |   |   |   | 11,000 |   |   |   | 385,000      |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 396,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.05                                     |   |   |   | 3,100,000         |   |   |   | 3,100  |   |   |   | 151,900      |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 155,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.075                                    |   |   |   | 838,000           |   |   |   | 838    |   |   |   | 61,912       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 62,750 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.08                                     |   |   |   | 4,147,000         |   |   |   | 4,147  |   |   |   | 327,613      |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 331,760 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.086                                    |   |   |   | 2,000,000         |   |   |   | 2,000  |   |   |   | 170,000      |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 172,000 |   |
| Common      Stock Issued for services             |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| at      $0.10                                     |   |   |   | 150,000           |   |   |   | 150    |   |   |   | 14,850       |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | 15,000 |   |
| Cancellation      of Issued Common Stock          |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| due      to non-payment on receivable             |   |   |   | (180,000          | )      |   |   | (180   | )      |   |   | (8,820       | )      |   |   | 9,000                      |   |   |   |             |   |   |   |          |   |   |   | - |   |
| Cash      Received for Subscriptions              |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| Receivable                                        |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   | 5,500                      |   |   |   |             |   |   |   |          |   |   |   | 5,500 |   |
| Unrealized      Gain/(Loss) on Available-for-sale |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   | 25,000        |   |   |   |   |   |
| Securities      (net of tax)                      |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   |   |   |
| Net      (Loss)                                   |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   | (1,476,327       | )      |   |   |          |   |   |   |   |   |
| Total      comprehensive income (loss)            |   |   |   |              |   |   |   |   |   |   |   |         |   |   |   |                       |   |   |   |             |   |   |   |          |   |   |   | (1,451,327 | ) |

----

|   |   |   |   |              |   |   |   |   |   |         |   |   | (Deficit)     |   |   |        |   |   |          |   |
|--------|--------|--------|--------|-------------------|--------|--------|--------|--------|--------|--------------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------|--------|
|   |   |   |   |              |   |   |   |   |   |         |   |   | Accumulated   |   |   | Accumulated |   |   |          |   |
|   |   |   |   | Common      Stock |   |   |   |   |   | Stock        |   |   | During        |   |   | Other       |   |   |          |   |
|   |   |   |   | Issued            |   |   |   |   |   | Paid      in |   |   | Subscriptions |   |   | Exploration |   |   | Comprehensive |   |   | Total |   |
|   |   |   |   | Shares            |   |   | Amount |   |   | Capital      |   |   | (Receivable)  |   |   | Stage       |   |   | Income/(Loss) |   |   | Equity |   |

| Balance,      April 30, 2009                      |   |   |   | 168,183,494 |   |   | 168,184 |   |   | 7,974,740 |   |   | (151,012 | )      |   | (6,183,443 | )      |   | 25,000     |   |   | 1,833,469  |   |
|---------------------------------------------------|--------|--------|--------|-------------|--------|--------|---------|--------|--------|-----------|--------|--------|----------|--------|--------|------------|--------|--------|------------|--------|--------|------------|--------|
|                                              |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| Common      Stock Issued for Cash at $0.15        |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 17,561,665  |   |   | 17,562  |   |   | 245,863   |   |   | (16,250  | )      |   |       |   |   |       |   |   | 247,175    |   |
| Common      Stock Issued for Cash at $0.02        |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 1,605,000   |   |   | 1,605   |   |   | 30,495    |   |   | (1,700   | )      |   |       |   |   |       |   |   | 30,400     |   |
| Common      Stock Issued for Cash at $0.022       |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 3,050,000   |   |   | 3,050   |   |   | 64,710    |   |   | -        |   |   |       |   |   |       |   |   | 67,760     |   |
| Common      Stock Issued for Cash at $0.025       |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 700,000     |   |   | 700     |   |   | 16,800    |   |   | -        |   |   |       |   |   |       |   |   | 17,500     |   |
| Common      Stock Issued for Cash at $0..033      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 300,000     |   |   | 300     |   |   | 9,700     |   |   | -        |   |   |       |   |   |       |   |   | 10,000     |   |
| Common      Stock Issued for Cash at $0..035      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 240,000     |   |   | 240     |   |   | 8,160     |   |   | -        |   |   |       |   |   |       |   |   | 8,400      |   |
| Common      Stock Issued for Cash at $0..04       |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 1,125,000   |   |   | 1,125   |   |   | 43,875    |   |   | (12,900  | )      |   |       |   |   |       |   |   | 32,100     |   |
| Common      Stock Issued for Cash at $0..045      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 7,047,300   |   |   | 7,048   |   |   | 310,100   |   |   | (30,422  | )      |   |       |   |   |       |   |   | 286,726    |   |
| Common      Stock Issued for Cash at $0..05       |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 1,090,000   |   |   | 1,090   |   |   | 53,410    |   |   |     |   |   |       |   |   |       |   |   | 54,500     |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.02                                     |   |   |   | 1,000,000   |   |   | 1,000   |   |   | 19,000    |   |   |     |   |   |       |   |   |       |   |   | 20,000     |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.028                                    |   |   |   | 8,400,000   |   |   | 8,400   |   |   | 226,800   |   |   |     |   |   |       |   |   |       |   |   | 235,200    |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.032                                    |   |   |   | 1,500,000   |   |   | 1,500   |   |   | 46,500    |   |   |     |   |   |       |   |   |       |   |   | 48,000     |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.035                                    |   |   |   | 12,500      |   |   | 12      |   |   | 428       |   |   |     |   |   |       |   |   |       |   |   | 440        |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.047                                    |   |   |   | 100,000     |   |   | 100     |   |   | 4,600     |   |   |     |   |   |       |   |   |       |   |   | 4,700      |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.050                                    |   |   |   | 750,000     |   |   | 750     |   |   | 36,750    |   |   |     |   |   |       |   |   |       |   |   | 37,500     |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.065                                    |   |   |   | 60,000      |   |   | 60      |   |   | 3,840     |   |   |     |   |   |       |   |   |       |   |   | 3,900      |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.083                                    |   |   |   | 66,666      |   |   | 67      |   |   | 5,433     |   |   |     |   |   |       |   |   |       |   |   | 5,500      |   |
| Common      Stock Issued for Cash at $0..035      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 314,300     |   |   | 314     |   |   | 10,686    |   |   |     |   |   |       |   |   |       |   |   | 11,000     |   |
| Common      Stock Issued for Cash at $0..045      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 2,872,400   |   |   | 2,872   |   |   | 126,358   |   |   | (10,000  | )      |   |       |   |   |       |   |   | 119,230    |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.041                                    |   |   |   | 1,850,000   |   |   | 1,850   |   |   | 74,000    |   |   |     |   |   |       |   |   |       |   |   | 75,850     |   |
| Common Stock Issued for services                  |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| at      $0.050                                    |   |   |   | 250,000     |   |   | 250     |   |   | 12,250    |   |   |     |   |   |       |   |   |       |   |   | 12,500     |   |
| Cash      Received for Subscriptions              |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| Receivable                                        |   |   |   |        |   |   |    |   |   |      |   |   | 110,000  |   |   |       |   |   |       |   |   | 110,000    |   |
| Common      Stock Issued for Cash at $0.05        |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| In      Private Placement                         |   |   |   | 440,000     |   |   | 440     |   |   | 21,560    |   |   |     |   |   |       |   |   |       |   |   | 22,000     |   |
| Common      Stock Issued for settlement           |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| of      lawsuit at $0.05                          |   |   |   | 1,000,000   |   |   | 1,000   |   |   | 49,000    |   |   |     |   |   |       |   |   |       |   |   | 50,000     |   |
| Common      Stock Issued for services             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| previously      unrendered at $0.139              |   |   |   | 500,000     |   |   | 500     |   |   | 69,000    |   |   |     |   |   |       |   |   |       |   |   | 69,500     |   |
| Cancellation      of Issued Common Stock          |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| due      to non-payment on receivable             |   |   |   | (996,700    | )      |   | (997    | )      |   | (42,528   | )      |   | 43,525   |   |   |       |   |   |       |   |   | -          |   |
| Cash      Received for Subscriptions              |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| Receivable                                        |   |   |   |        |   |   |    |   |   |      |   |   | 24,622   |   |   |       |   |   |       |   |   | 24,622     |   |
| Unrealized      Gain/(Loss) on Available-for-sale |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   | (1,155,461 | )      |   |       |   |
| Securities      (net of tax)                      |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   |       |   |
| Net      (Loss)                                   |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   | (1,949,629 | )      |   |       |   |   |       |   |
| Total      comprehensive income(loss)             |   |   |   |        |   |   |    |   |   |      |   |   |     |   |   |       |   |   |       |   |   | (3,105,090 | )      |
| Balance,      January 31, 2010                    |   |   |   | 219,021,625 |   |   | 219,022 |   |   | 9,421,530 |   |   | (44,137  | )      |   | (8,133,072 | )      |   | (1,130,461 | )      |   | 332,882    |   |

----

|                                                               |   |                               |       |   |                |   |       | March      15, 2006 |   |
|--------------------------------------------------------------------|--------|------------------------------------|------------|--------|---------------------|--------|------------|---------------------|--------|
|                                                               |   |                               |       |   | (Inception)         |   |
|                                                               |   | Nine      months ended January 31, |       |   | to      January 31, |   |
|                                                               |   | 2010                               |       |   | 2009                |   |       | 2010                |   |
| Operating      activities                                          |   |                               |       |   |                |   |       |                |   |
| Net      loss                                                      |   | $                                  | (1,949,629 | )      |                | $      | (399,287   | )                   |   | $ | (8,133,072 | ) |
| Adjustments      to reconcile net loss                             |   |                               |       |   |                |   |       |                |   |   |   |   |
|    Stock      issued for services                   |   |                               | 724,048    |   |                |   | 677,091    |                |   |   | 2,786,128 |   |
| Stock      issued for payment of interest on debt                  |   |                               | -          |   |                |   | 12,750     |                |   |   | 12,750 |   |
| Non-cash      financing costs                                      |   |                               | -          |   |                |   | -          |                |   |   | 46,234 |   |
| Realized      loss on sale of investments                          |   |                               | 1,906      |   |                |   | -          |                |   |   | 1,906 |   |
| Gain      on sale of mineral property                              |   |                               | -          |   |                |   | (1,249,072 | )                   |   |   | (1,249,072 | ) |
| Depreciation      and amortization                                 |   |                               | 5,668      |   |                |   | 4,824      |                |   |   | 22,983 |   |
| Stock-based      compensation                                      |   |                               | -          |   |                |   | -          |                |   |   | 1,587,067 |   |
| Impairment      of long-lived assets                               |   |                               | -          |   |                |   | -          |                |   |   | 17,500 |   |
| Other      assets                                                  |   |                               |       |   |                |   |       |                |   |   |   |   |
|    (Increase)/decrease      in other current assets |   |                               | (21,486    | )      |                |   | -          |                |   |   | (21,731 | ) |
|    (Increase)/decrease      in prepaid expenses     |   |                               | (11,777    | )      |                |   | 13,261     |                |   |   | (23,362 | ) |
|    Increase/(decrease)      in accounts payable     |   |                               | 38,352     |   |                |   | 286,587    |                |   |   | 503,780 |   |
|    Increase/(decrease)      in accrued liabilities  |   |                               | 115,455    |   |                |   | 53,790     |                |   |   | 332,429 |   |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Net      cash used by operating activities                         |   |                               | (1,097,463 | )      |                |   | (600,057   | )                   |   |   | (4,116,460 | ) |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Investment      activities                                         |   |                               |       |   |                |   |       |                |   |   |   |   |
| Investments:                                                       |   |                               |       |   |                |   |       |                |   |   |   |   |
| Purchases                                                          |   |                               | (1,356     | )      |                |   | -          |                |   |   | (1,356 | ) |
| Proceeds                                                           |   |                               | 594        |   |                |   | -          |                |   |   | 594 |   |
| Acquisition      of mineral property                               |   |                               | -          |   |                |   | -          |                |   |   | (78,091 | ) |
| Investment      in General Copper                                  |   |                               | -          |   |                |   | -          |                |   |   | (17,500 | ) |
| Investment      in Lahontan                                        |   |                               | (2,563     | )      |                |   | -          |                |   |   | (2,563 | ) |
| Deposit      on water rights                                       |   |                               | (800       | )      |                |   | -          |                |   |   | (800 | ) |
| Deposit      on reclamation bond                                   |   |                               | (16,994    | )      |                |   | -          |                |   |   | (34,438 | ) |
| Proceeds      from sale of mineral property                        |   |                               | -          |   |                |   | 12,500     |                |   |   | 12,500 |   |
| Purchase      of land                                              |   |                               | 25         |   |                |   | -          |                |   |   | (67,742 | ) |
| Purchase      of equipment                                         |   |                               | (4,568     | )      |                |   | -          |                |   |   | (17,616 | ) |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Net      cash used by investment activities                        |   |                               | (25,662    | )      |                |   | 12,500     |                |   |   | (207,012 | ) |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Financing      activities                                          |   |                               |       |   |                |   |       |                |   |   |   |   |
| Proceeds      from loans from related parties                      |   |                               | 5,000      |   |                |   | 11,800     |                |   |   | 101,864 |   |
| Repayments      of loans from related parties                      |   |                               | (4,880     | )      |                |   | -          |                |   |   | (33,064 | ) |
| Proceeds      from issuance of debt                                |   |                               | 102,800    |   |                |   | -          |                |   |   | 149,841 |   |
| Repayments      of debt                                            |   |                               | (1,414     | )      |                |   | -          |                |   |   | (1,414 | ) |
| Proceeds      from the sale of stock                               |   |                               | 1,041,413  |   |                |   | 560,199    |                |   |   | 4,105,982 |   |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Net      cash provided by financing activities                     |   |                               | 1,142,919  |   |                |   | 571,999    |                |   |   | 4,323,209 |   |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Net      increase / (decrease) in cash                             |   |                               | 19,794     |   |                |   | (15,558    | )                   |   |   | (263 | ) |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Cash,      beginning of period                                     |   |                               | (20,057    | )      |                |   | 17,600     |                |   |   | - |   |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Cash,      end of period                                           |   | $                                  | (263       | )      |                | $      | 2,042      |                |   | $ | (263 | ) |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Supplemental      Information:                                     |   |                               |       |   |                |   |       |                |   |   |   |   |
| Interest      paid                                                 |   | $                                  | 4,906      |   |                | $      | 56         |                |   | $ | 8,259 |   |
| Income      taxes paid                                             |   | $                                  | -          |   |                | $      | -          |                |   | $ | - |   |
|                                                               |   |                               |       |   |                |   |       |                |   |   |   |   |
| Non-cash      activities:                                          |   |                               |       |   |                |   |       |                |   |   |   |   |
| Stock      issued for service as prepaid expenses                  |   | $                                  | 40,375     |   |                | $      | 536,945    |                |   | $ | 40,375 |   |
| Stock      issued to acquire mineral property lease                |   | $                                  | -          |   |                | $      | -          |                |   | $ | 783,687 |   |
| Stock      issued for payment of interest on debt                  |   | $                                  | -          |   |                | $      | 12,750     |                |   | $ | 12,750 |   |
| Stock      issued as reduction of accrued expenses                 |   | $                                  | 150,000    |   |                | $      | -          |                |   | $ | 150,000 |   |
| Stock      issued as reduction of contingent liability             |   | $                                  | 50,000     |   |                | $      | -          |                |   | $ | 50,000 |   |

----

----

| · | Level 1: Inputs      based on quoted market prices for identical assets or liabilities in      active markets at the measurementdate. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Level 2: Observable      inputs other than quoted prices included in Level 1, such as quoted      prices for similar assets and liabilities in active markets; quoted prices      for identical or similar assets and liabilities in markets that are not      active; or other inputs that are observable or can be corroborated by      observable market data. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Level 3: Inputs      reflect management’s best estimate of what market participants would use      in pricing the asset or liability at the measurement date. The inputs are      unobservable in the market and significant to the instrument’s      valuation. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                        |   | Level      1 |    |   | Level      2 |   |           | Level      3 |   |   | Total          |   |
|-------------------------------------------------------------|--------|--------------|---------|--------|--------------|--------|----------------|--------------|--------|--------|----------------|--------|
| Marketable      equity securities                           |   | $            | 355,895 |   |         | $      | –– |         |   | $      | –– |   |   | $ | 355,895 |   |
| Total      assets measured at fair value on recurring basis |   | $            | 355,895 |   |         | $      | –– |         |   | $      | –– |   |   | $ | 355,895 |   |

----

----

----

|   |
|--------|
|   |   |  We      currently control a 100% undivided leasehold interest in the      Wilson-Independence Gold – Silver Mine, situated in the Battle Mountain      Mining District, Lander County, Nevada. The property consists of 14 whole      and fractional mining claims encompassing 240 acres.  Our Due      diligence shows that all claims are valid and in good standing through and      for the assessment year ending August 31, 2010. The      Wilson-Independence project is wholly owned by our company through our      subsidiary company General Gold Corporation under a mining lease/option      agreement with Independence Gold Silver Mines of Seattle, Washington.      Under the terms of the agreement we were required to expend a minimum of      $625,000 towards exploration development and commercial production of      ores, minerals or materials. This expenditure requirement was fulfilled      prior to the year ended April 30, 2008, as we expended approximately      $760,000 through that date.  During the year ended April, 30,      2009, we spent approximately $995,000 on exploration and development      including the initiation of the permitting process. Through the nine      months ended January 31, 2010, we spent an additional $761,000 in drilling      and permitting of the Independence project. The term      of the lease is for a period of 20 years commencing October 1, 2005. There      is a production royalty payable for the sale of all gold, silver or      platinum based upon the average daily price of gold on the London Metal      Exchange as follows: 3% when the price of gold per ounce is less than      $375, 4% when the price of gold per ounce is between $375 and $475 and 5%      when the price of gold is over $475. There is also a production royalty of      3% payable on the sale of all substances other than gold, silver and      platinum.  We have the option to purchase the property thereby      eliminating the royalty for $3.0 million within 10 years of the date the      lease commenced provided all obligations have been met.  Gold      Range LLC retains a 1% overriding royalty on the Independence      project. |

----

| 1. | located      all of the sample pulps from the historic (1985-1987) Noranda Minerals      drilling in the Independence Gold Skarn target in the Independence Deep      Target on our Independence Mine Property and inventoried this pulp      library.  |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | validated      the data base for the Independence Skarn assays.  |
|----|-----------------------------------------------------------------------|

| 3.  | released      the diamond drill results from the high grade Independence Gold Skarn      Target at our Independence property in the Battle Mountain Mining District      of Nevada. These intercepts are historic in nature and from diamond      drilling conducted by Noranda Minerals from 1985 through 1989 and Great      Basin Gold Corp. in 1998. Except for Great Basin Gold drill hole WI-001,      none of these results have been previously disclosed.  |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.  | secured      Great Basin Pulps from the High Grade Independence Gold Skarn      Target  |
|----------|----------------------------------------------------------------------------------------------|

| 5.  | through      analysis and modeling of the the Noranda and Great Basin Gold drilling in      the Independence Gold Skarn system, identified a target more than half a      mile wide and three quarters of a mile long which contains three highly      prospective structural / stratigraphic zones.  |
|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.  | completed      the baseline environmental surveys recently including flora, fauna and bat      studies.  The reports of these studies are in our company’s      files.  |
|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.  | collected      characterization samples to define appropriate material for bulk samples      to be used in advanced metallurgical studies, received the assay results      and selected the appropriate material for two bulk samples  |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.  | received      the check assay results required to validate the 2007-2008 drilling      results under evaluation for the Independent Report. These results are      being evaluated by our company's independent qualifiedperson.  |
|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.  | appointed      Henry S. Brock, CPA, MBA, CLU, ChFC to our Advisory Board and as Vice      President of our company |
|----------|--------------------------------------------------------------------------------------------------------------------|

| 1.  | completed      the QA/QC on all final re-assays for the major mineralized drill      intercepts in the Independence Gold Skarn in the Independence Deep Target.      The results correlate exceptionally well with original drill data by      Noranda Exploration and Great Basin Gold. Re-assay of Noranda Exploration      pulps from their 1984 - 1987 diamond core drilling program returned      results that were consistently higher than original assays and on average      four percent (4%) higher in grade than the original      assays.  Importantly, drift in higher grade samples consistently      showed that the original Noranda assays underreported the gold content of      the gold skarn as shown in Chart 1below. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 2. | collected      and delivered two bulk samples of surface oxide mineralization for      metallurgical testing including column leach tests at the Independence.      The samples were collected under the supervision of personnel from      McClelland Laboratories Inc. (McClelland) of Sparks, Nevada. Each sample      weighed approximately 2 1/2 tons and both samples have been delivered to      McClelland for processing.  |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | through      General Gold Corporation, our wholly owned subsidiary, received a grant of      water rights for portions of Sections 28 and 33 (T31N, R43E), in Lander      County, NV, the proposed center of the Independence Mine's process      area.  |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | received      initial metallurgical characterization results for bulk samples of surface      and near surface, oxide mineralization were completed by McClelland      Metallurgical Laboratories of Sparks, Nevada during the quarter ended      October 31, 2009.  Both the Hill Zone and Independence South      Zone samples indicate excellent solution access regardless of feed size      with the 2 inch material returning essentially identical gold extraction      and recovery in the same leach time as the minus 10 mesh material as seen      in the following table. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                        |   |     |   | Au         |   | Ag         |
|-----------------------------|--------|----------|--------|------------|--------|------------|
|                        |   | FeedSize |   | Recovery,% |   | Recovery,% |
| Composite                   |   |     |   |
| Sample      #1 (Hill Zone)  |   | 2"       |   | 82.5       |   | 22.2       |
| Sample      #1 (Hill Zone)  |   | 1"       |   | 84.2       |   | 23.1       |
| Sample      #1 (Hill Zone)  |   | 1/2"     |   | 81         |   | 21.4       |
| Sample      #1 (Hill Zone)  |   | 10M      |   | 82.2       |   | 48.1       |
| Average                     |   |     |   | 82.5       |   | 28.7       |
| Sample      #2 (South Zone) |   | 2"       |   | 63         |   | 22.2       |
| Sample      #2 (South Zone) |   | 1"       |   | 58.8       |   | 27.6       |
| Sample      #2 (South Zone) |   | 1/2"     |   | 61.1       |   | 30.8       |
| Sample      #2 (South Zone) |   | 10M      |   | 63.6       |   | 54.7       |
| Average                     |   |     |   | 61.6       |   | 33.8       |

| 5. | instructed      McClelland to proceed immediately with a large diameter column leach test      on the Hill Zone.  McClelland will be conducting additional      analytical and characterization work to better characterize the leach      parameters to optimize leach results for the large diameter column leach      in the South Zone.  Due to the exceptional recovery in the      coarse fractions of the bottle rolls, column leach tests of each sample      will be conducted at 2 and 6 inch.  |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | received      final approval and has satisfied the required bonding of the drilling      permits with the Bureau of Land Management (BLM).  |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | completed 5 of the planned 44      hole 2009 drilling which is designed with three specificobjectives:  |
|----|--------------------------------------------------------------------------------------------------------------|

|         a. | upgrade      all the Hill Zone gold-silver mineralization into measured and indicated      categories, |
|----------------------|--------------------------------------------------------------------------------------------------------|

|         b. | provide      sufficient drill density to identify higher grade zones within the Hill      Zone mineralization, and |
|----------------------|--------------------------------------------------------------------------------------------------------------------|

|         c. | provide      sufficient detail to facilitate pit design and detailed mine      planning. |
|----------------------|------------------------------------------------------------------------------------------|

----

| 1. | successfully      completed the Company's 2009 - 2010 drilling program of 12,895 feet in 44      drill holes. This drilling program augmented our drilling and added drill      density to the Hill Zone area to confirm continuity of      grade.  Results of the program will be released as pending final      assays are received, reviewed and interpreted.  |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | announced      the significant intercepts contained in holes GM 85, 86, 87, 88, 89, 90,      91, 92, 95, and 99. |
|----|------------------------------------------------------------------------------------------------------------------|

| 3. | announced      that, in keeping with its historic and ongoing efforts to maximize      shareholder value, it has been reviewing highly qualified candidates to      transition the Company from its current status as a junior explorer to an      effective and profitable producing company. To facilitate this transition,      Steve Parent has joined the Company's Advisory Board and stepped down from      the Board of Directors and as President and CEO. The Board of Directors      has appointed Robert Carrington to the Board of Directors and as interim      President to assist in thetransition. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Direct      exploration and development costs        |   |   |      |
|------------------------------------------------------|--------|--------|-----------|
| Hill      zone drilling program                      |   | $      | 600,000   |   |
| North      zone drilling program                     |   |   | 500,000   |   |
| Core      drilling program                           |   |   | 500,000   |   |
| Metallurgical      testing programs                  |   |   | 445,000   |   |
| Additional      permitting costs                |   |   | 500,000   |   |
| Report      completion costs                         |   |   | 30,000    |   |
|                                                 |   |   |      |   |
| Total      direct exploration and development costs  |   |   | 2,575,000 |   |
|                                                 |   |   |      |   |
| Indirect      costs                                  |   |   |      |   |
| Office      rent and other operating expenses        |   |   | 100,000   |   |
| Wages      and salaries and payroll related expenses |   |   | 200,000   |   |
| Insurance      expenses                              |   |   | 40,000    |   |
| Other      general and administrative expenses       |   |   | 55,000    |   |
| Legal      expenses                                  |   |   | 30,000    |   |
|                                                 |   |   |      |   |
| Total      indirect costs                            |   |   | 425,000   |   |
|                                                 |   |   |      |   |
| Total      budget for the next twelve months         |   | $      | 3,000,000 |   |

----

----

|                    |   | Three      Months EndedJanuary 31 |     |   |   |   |
|-------------------------|--------|----------------------------------------|----------|--------|--------|--------|
|                    |   | 2010                                   |     |   | 2009   |   |   | Change |   |
|                    |   |                                   |     |   |   |   |   |   |   |
| Revenue                 |   | $                                      | Nil      |   |   | $      | Nil |   |   | $ | Nil |   |
| Operating      expenses |   | $                                      | 609,594  |   |   | $      | 401,044 |   |   | $ | 208,550 |   |
| Net      (loss)         |   | $                                      | (610,881 | )      |   | $      | (398,601 | ) |   | $ | (212,280 | ) |

|                               |   | Three      Months EndedJanuary 31 |    |   |   |   |
|------------------------------------|--------|----------------------------------------|---------|--------|--------|--------|
|                               |   | 2010                                   |    |   | 2009   |   |   | Change |   |
| Depreciation      and amortization |   | $                                      | 2,270   |   |   | $      | 1,608 |   |   | $ | 662 |   |
| General      and administrative    |   | $                                      | 121,818 |   |   | $      | (20,465 | ) |   | $ | 142,283 |   |
| Management      and consulting     |   | $                                      | 117,330 |   |   | $      | 347,360 |   |   | $ | (230,030 | ) |
| Exploration      and development   |   | $                                      | 331,239 |   |   | $      | 45,643 |   |   | $ | 285,596 |   |
| Professional      fees             |   | $                                      | 36,937  |   |   | $      | 26,898 |   |   | $ | 10,039 |   |
|                               |   |                                   |    |   |   |   |   |   |   |   |   |   |

----

|                    |   | Nine      Months EndedJanuary 31 |       |   |   |   |
|-------------------------|--------|---------------------------------------|------------|--------|--------|--------|
|                    |   | 2010                                  |       |   | 2009   |   |   | Change |   |
|                    |   |                                  |       |   |   |   |   |   |   |
| Revenue                 |   | $                                     | Nil        |   |   | $      | Nil |   |   | $ | Nil |   |
| Operating      expenses |   | $                                     | 1,942,817  |   |   | $      | 1,638,036 |   |   | $ | (304,781 | ) |
| Net loss           |   | $                                     | (1,949,629 | )      |   | $      | (399,287 | ) |   | $ | (1,550,342 | ) |

|                               |   | Nine      Months EndedJanuary 31 |    |   |   |   |
|------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|
|                               |   | 2010                                  |    |   | 2009   |   |   | Change |   |
| Depreciation      and amortization |   | $                                     | 5,668   |   |   | $      | 4,824 |   |   | $ | 844 |   |
| General      and administrative    |   | $                                     | 191,207 |   |   | $      | 82,666 |   |   | $ | 108,541 |   |
| Management      and consulting     |   | $                                     | 820,724 |   |   | $      | 691,033 |   |   | $ | 129,691 |   |
| Exploration      and development   |   | $                                     | 761,470 |   |   | $      | 783,489 |   |   | $ | (22,019 | ) |
| Professional      fees             |   | $                                     | 163,748 |   |   | $      | 76,094 |   |   | $ | 87,654 |   |

----

|                     |   | January 31,2010 |     |   | April      30,2009 |   |      | Change |   |
|--------------------------|--------|----------------------|----------|--------|--------------------|--------|-----------|--------|--------|
| Current      assets      |   | $                    | 426,534  |   |               | $      | 1,891,764 |   |   | $ | (1,465,230 | ) |
| Current      liabilities |   | $                    | 794,822  |   |               | $      | 739,037   |   |   | $ | (55,785 | ) |
| Working      Capital     |   | $                    | (368,288 | )      |               | $      | 1,152,727 |   |   | $ | (1,521,015 | ) |

|                                                  |   | Nine      Months EndedJanuary 31 |       |   |   |   |
|-------------------------------------------------------|--------|---------------------------------------|------------|--------|--------|--------|
|                                                  |   | 2010                                  |       |   | 2009   |   |   | Change |   |
| Net      cash used in operating activities            |   | $                                     | (1,343,629 | )      |   | $      | (600,057 | ) |   | $ | (743,572 | ) |
| Net      cash provided (used) in investing activities |   | $                                     | (25,662    | )      |   | $      | 12,500 |   |   | $ | (38,162 | ) |
| Net      cash provided by financing activities        |   | $                                     | 1,142,919  |   |   | $      | 571,999 |   |   | $ | 570,920 |   |
| Net      increase (decrease) in cash during period    |   | $                                     | 19,794     |   |   | $      | (15,558 | ) |   | $ | 35,352 |   |

----

----

----

----

----

----

| Item   |   | Description                                                                                                                                                                                                                                                                               |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)    |   | Articles      of Incorporation and By-laws                                                                                                                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                      |
| 3.1    |   | Certificate      of Incorporation (incorporated by reference from our Registration      Statement on Form 10-SB12G filed on August 24, 1999)                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                      |
| 3.2    |   | By-Laws      (incorporated by reference from our Registration Statement on Form      10-SB12G filed on August 24, 1999)                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                      |
| 3.3    |   | Amendment      to Certificate of Incorporation (incorporated by reference from our Annual      Report on Form 10-KSB filed on August 15, 2006)                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                      |
| (10)   |   | Material      Contracts                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.1   |   | Letter      of Intent between General Gold Corporation and Gold Range, LLC dated      November 14, 2004  (incorporated by reference from our Annual      Report on Form 10-KSB filed on August 15, 2006)                                                                        |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.2   |   | Amendment      to Letter of Intent between General Gold Corporation and Gold Range, LLC      dated December 31, 2004 (incorporated by reference from our Annual Report      on Form 10-KSB filed on August 15, 2006).=                                                                    |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.3   |   | Assignment      of Lease Agreement between General Gold Corporation and Gold Range      Company, LLC dated April 29, 2005  (incorporated by reference      from our Annual Report on Form 10-KSB filed on August 15,      2006)                                                 |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.4   |   | Assignment      of Lease and Consent Agreement between Independence Gold-Silver Mines      Inc., Gold Range Company, LLC and General Gold Corporation dated June 29,      2005  (incorporated by reference from our Annual Report on Form      10-KSB filed on August 15, 2006) |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.5   |   | Lease      Agreement between Independence Gold-Silver Mines Inc. and Gold Range      Company, LLC dated July 13, 2005  (incorporated by reference      from our Annual Report on Form 10-KSB filed on August 15,      2006)                                                     |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.6   |   | Share      Purchase Agreement dated July 20, 2006 among General Gold Corporation,      Recov Energy Corp. and the selling shareholders of General Gold      Corporation  (incorporated by reference from our Annual Report      on Form 10-KSB filed on August 15, 2006)        |
|   |   |                                                                                                                                                                                                                                                                                      |
| 10.7   |   | Share      Purchase Agreement dated March 15, 2007 between our company and Sanibel      Investments Ltd. (incorporated by reference from our Current Report on      Form 8-K filed on March 22, 2007).                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                      |
| (14)   |   | Code      of Ethics                                                                                                                                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                      |
| 14.1   |   | Code      of Ethics  (incorporated by reference from our Annual Report on      Form 10-KSB filed on August 15, 2006)                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                      |
| (21)   |   | Subsidiaries                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                      |
|   |   | General      Gold Corporation, a Nevada company                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                      |
| (31)   |   | Section      302 Certification                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                      |
| 31.1   |   | Section      302 Certification of the Sarbanes-Oxley Act of 2002 (filed      herewith)                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                      |
| 31.2   |   | Section      302 Certification of the Sarbanes-Oxley Act of 2002 (filed      herewith)                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                      |
| (32)   |   | Section      906 Certification                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                      |
| 32.1   |   | Section      906 Certification of the Sarbanes-Oxley Act of 2002 (filed      herewith)                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                      |
| 32.2   |   | Section      906 Certification of the Sarbanes-Oxley Act of 2002 (filed      herewith)                                                                                                                                                                                                    |

----

|                                  |   | GENERAL      METALS CORPORATION                                      |
|---------------------------------------|--------|----------------------------------------------------------------------|
|                                  |   | (Registrant)                                                         |
|                                  |   |                                                                 |
| Dated:  March      22, 2010 |   | /s/      Robert G. Carrington                                        |
|                                  |   | Robert      G. Carrington                                            |
|                                  |   | President                                                            |
|                                  |   | (Principal      Executive Officer)                                   |
|                                  |   |                                                                 |
|                                  |   |                                                                 |
| Dated:  March      22, 2010 |   | /S/      Daniel J. Forbush                                           |
|                                  |   | Daniel      J. Forbush                                               |
|                                  |   | Chief      Financial Officer                                         |
|                                  |   | (Principal      Financial Officer and Principal Accounting  Officer) |

----