UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



Form 10-KSB



[ x ] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL PERIOD ENDED MARCH 31, 2007

[

Commission File No. 000-50915

UTAH URANIUM CORP.

(Exact name of
registrant as specified in its charter)

Nevada
(State or other jurisdiction of incorporation or organization)

98-0434710
(I.R.S. Employer Identification Number)

11850 South Highway
191, Unit B-9, Moab, UT 84532

(Address of principal
executive offices)

(435) 259-0460
(Issuer's telephone number)

McNab Creek Gold Corp.

Suite 1128, 789 West
Pender Street

Vancouver, British
Columbia, V6C 1H2, Canada

(Former name or former
address, if changed since last report)

Securities registered under Section 12(b) of the Exchange Act:
None

Securities registered under Section 12(g) of the Exchange Act:
Common Shares

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

Check whether the Issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. [ x ]
Yes [

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

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

The Issuer's revenues for its fiscal period ended March 31,
2007, were $0.00.

State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at which
the common equity was sold, or the average bid and asked price of such common
equity, as of a specified date within the past 60 days. (See definition of
affiliate in Rule 12b-2 of the Exchange Act.): $20,285,200

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

37,859,200 common shares issued and outstanding as of July 11,
2007

DOCUMENTS INCORPORATED BY REFERENCE

If the following documents are incorporated by reference,
briefly describe them and identify the part of the Form 10-KSB (e.g., Part I,
Part II, etc.) into which the document is incorporated: (1) any annual report to
security holders; (2) any proxy or information statement; and (3) any prospectus
filed pursuant to Rule 424(b) or (c) of the Securities Act of 1933 ("Securities
Act"). The listed documents should be clearly described for identification
purposes (e.g., annual report to security holders for fiscal year ended December
24, 1990).

Transitional Small Business Disclosure Format (Check one): Yes [



FORWARD LOOKING STATEMENTS



Statements made in this Form 10-KSB that are not historical or current facts
are "forward-looking statements" made pursuant to the safe harbor provisions of
Section 27A of the Securities Act of 1933 (the "Act") and section 21E of the
Securities Exchange Act of 1934. These statements often can be identified by the
use of terms such as "may", "will", "except", "believe", "anticipate",
"estimate", "approximate" or "continue", or the negative thereof. We intend that
such forward-looking statements be subject to the safe harbors for such
statements. We wish to caution readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made. Any
forward-looking statements represent management's best judgments as to what may
occur in the future; however, forward-looking statements are subject to risks,
uncertainties and important factors beyond our control that could cause actual
results and events to differ materially from historical results of operations
and events and those presently anticipated or projected. We disclaim any
obligation subsequently to revise any forward-looking statements to reflect
events or circumstances after the date of such statement or to reflect the
occurrence of anticipated or unanticipated events.

AVAILABLE INFORMATION



Utah Uranium Corp. files annual, quarterly, current reports, proxy statements
and other information with the Securities and Exchange Commission (the
"Commission"). You may read and copy documents referred to in this Annual Report
on Form 10-KSB that have been filed with the Commission at the Commission's
Public Reference Room, 450 Fifth Street, N.W., Washington, D.C. You may obtain
information on the operation of the Public Reference Room by calling the
Commission at 1-800-SEC-0330. You can also obtain copies of our Commission
filings by going to the Commission's website at

---



PART I

Item 1. Description of Business

Business Development.

Utah Uranium Corp. was incorporated under the laws of the State of Nevada on
February 15, 2001, under the name "Parthenon Development Corporation.". On
August 19, 2003, we filed an amendment to our articles of incorporation changing
our name to McNab Creek Gold Corp., at which time management determined that our
company would explore gold and silver deposits in the vicinity of the Carlin
Trend and Kennedy District. During early 2007, we again changed our business
operations and focus to the exploration for economic reserves of uranium in the
United States, concentrating in the States of Utah and Colorado. On April 13,
2007, we changed our name to Utah Uranium Corp.

After the effective date of our registration statement filed with the
Securities and Exchange Commission on December 21, 2006, we commenced trading on
the Over-the-Counter Bulletin Board under the symbol "MCNB". Subsequent to our
name change, our symbol was changed to "UTUC." Please note that throughout this
Annual Report, and unless otherwise noted, the words "we", "our", "us", the
"Company", or "Utah Uranium", refer to Utah Uranium Corp.

Business of Issuer.

We are a natural resource exploration and development company engaged in the
exploration and development of properties that may contain uranium minerals in
the United States. Our strategy is to acquire properties that are thought to
contain economic quantities of uranium ore and have undergone some degree of
uranium exploration but have not yet been mined. To date, we have acquired
interests in 11,875 gross acres of leased or staked mineral properties,
consisting of claim blocks located in the States of Colorado and Utah, which we
intend to explore for economic deposits of uranium and vanadium. Certain of
these claims are subject to royalty interests outlined below. Each of these
properties has been the subject of some historical exploration by other mining
companies. Their historical results indicate that further exploration for
uranium is warranted. Our view that our properties are prospective for mineral
exploration is based on either prior exploration conducted by other companies or
management information and work product derived from various reports, maps,
radioactive rock samples, exploratory drill logs, state organization reports,
consultants, geological study, and other exploratory information.

We also have access to historical exploration data consisting chiefly of
drill hole assay results, drill hole logs, studies, publicly published works,
our own created work product, and maps, that help guide our property acquisition
strategy. We plan to use this exploration data as the basis for formulating the
exploration programs that we plan to undertake on our properties.

Our principal mineral property is the Family Butte property, located in Utah,
and consisting of 2,075 acres. We plan to use our exploration data to target
additional exploration properties for acquisition. Going forward in the 2008
financial year, we have plans to acquire further acres of mineral properties
consisting of claim blocks located in, but not limited to, the four corners area
of the United States which includes the states of Utah, Colorado, Arizona and
New Mexico, with our primary focus in Utah and Colorado. Our ability to complete
these acquisitions will be subject to our obtaining sufficient financing and our
being able to conclude agreements with the property owners on terms acceptable
to us. These potential property acquisitions have not yet been specifically
identified.

Our properties do not have any reserves. We plan to conduct exploration
programs on these properties with the object of ascertaining whether any or our
properties contain economic concentrations of uranium and vanadium that are
prospective for mining. As such, we are considered an exploration or exploratory
stage company. Since we are an exploration stage company, there is no assurance
that a commercially viable mineral deposit exists on any of our properties, and
a great deal of further exploration will be required before a final evaluation
as to the economic and legal feasibility for our future exploration is
determined. We have no known reserves of uranium or any other type of mineral.
Since inception, we have not established any proven or probable reserves on our
mineral properties.

Description of our Mineral Properties

Family Butte Property (also known as the San Rafael Swell)



Purchased from Dennis Ekker (50%) and Jeff Adams (50%) on
March 15, 2007



Number of claims 112 totaling approximately 2,075 acres



Legal Description:

> Township 23S, Range
>   10E, Section 10
>   TEC claim numbers 1
>   through 24
>   TEC claim numbers
>   25 through 32 (fractional)
>   Township 23S, Range
>   10E, Section 19
>   RAY claim numbers 1
>   through 24
>   RAY claim numbers
>   25 through 32 (fractional)
>   Township 23S, Range
>   10E, Section 30
>   SUSANNA claim
>   numbers 1 through 24
>   SUSANNA claim
>   numbers 25 through 32 (fractional)
>   Township 23S, Range
>   10E, Section 29
>   URI claim numbers 1
>   through 16

Terms of purchase:



50% from Adams for $330,000 payable $200,000 within 60 days
of the agreement, with a further $130,000 payable on or before March 15, 2008.



In addition, Adams will be issued a total of 300,000 shares,
with 150,000 issuable within 60 days of the agreement and the remaining 150,000
issueable on or before March 15, 2008. Adams retains a 2% Royalty.



50% from Ekker for $88,000 cash payable $38,000 within 60
days of the agreement, and $50,000 payable on or before March 15, 2008. In
addition, Ekker will be issued a total of 200,000 shares, with 100,000 issuable
within 60 days of the agreement and the remaining 100,000 shares issuable on or
before March 15, 2008. No Royalty is payable on this portion of the agreement.



Total purchase cost for 100% interest:

> Cash totaling
>   $418,000
>   Shares totaling
>   500,000
>   Royalty 2%



Additional Terms - None.



Description: The Property is located in the San Rafael Swell area of East
Central Utah, accessible by good condition dirt road within 20 miles of the I-70
freeway. The Property hosts numerous production portals from previous mining
activities. Activities primarily occurred in the 1950's when Union Carbide
performed extensive exploration aimed at providing additional feedstock to
augment their Temple Mountain Mine production for their processing mill located
in nearby Green River. Work included driving of numerous portals, and in excess
of 80 drill holes (visually estimated) on the Butte top located behind these
portals. Activities ceased on the closure of the milling facilities in Green
River. More recently, exploration in the 1970's including drilling a parallel
Butte top, also within the Family Butte Property, with numerous additional holes
(estimated to be 80 - 100 drill holes). The San Raphael Swell area was explored
for uranium and vanadium from the mid-1950's until the early 1980's, when
commodity prices caused the closure of many mining and exploration activities.
Deposits in the area are typically found in meandering formations of historic
channels in the Shinerup formation. In a recent Company inspection of the
property, it was noted at numerous locations the presence of layered formations
of fine grained sands in various thicknesses (prime host for uranium deposits)
in addition to numerous samples of carbon "trash" material, copper and iron
pyrite, all Uranium hosts and or indicators. Past production from this formation
includes the million plus pounds produced from the Happy Jack, the Marquee and
Atlas Minerals first mine, located 10 miles south of the Family Butte property.
Management is currently evaluating a proposed phase 1 work program to consist of
surface mapping, sampling, road rehabilitation, and a potential exploratory
drill program. The company is also engaging the services of researchers to try
and locate and secure previous drilling data on the two phases of drilling that
have occurred on this property in the past.



Henry Mountains Property



Purchased from Jeff Adams (50%) on April 10, 2007, with the
remaining interested held by Dennis Ekker (50%).



Number of claims 112 totaling approximately 2,000 acres



Legal Description:

> Township 35S, Range
>   11E, Section 15
>   JENNY 1 through 16
>   Township 25, Range
>   11E, Section 25
>   JERRY 1 through 24
>   Township 26, Range
>   11E, Section 26
>   AMBER 1 through 32
>   Township 34S, Range
>   11E, Section 35
>   JO 1 through 32



Terms of purchase:

50% interest from Adams

Cash totaling $50,000 [$10,000 on execution, $40,000 within
60 days of agreement]

> Shares totaling
>   600,000 shares [400,000 within 60 days of execution of agreement, and 200,000
>   shares on or before April 10, 2008]
>   Royalty: 2% to
>   Adams

Additional terms - none.



Description: The Henry Mountains Properties are separated into two parcels
located just north and south of Hanksville, Utah, in a historic uranium
producing region. The parcels are accessible via good quality dirt roads. The
southern parcel of the claims in the Henry Mountain Mining District, consists of
320 acres adjacent to the Denison "Bullfrog Mine" and just north of the SXR
Uranium One Ticaboo Mill. The northern parcel of claims are located two miles
northeast of this, just north of the previously operated Del Monte Mine. The
formations in this region have potentially high grade deposits in the Salt Wash
member of the Jurassic Morrison formation. Exploration in past uranium booms has
proven the area to contain viable production grade mineralization within this
formation.



Pinto Property



Purchased from Christian F. Murer on June 1, 2007



Number of claims: 344 consisting of 6,800 acres



Legal Description:

> 344 Pinto Claims
>   located in Wayne County, Utah
>   More specifically;
>   the claims named Pinto 1 through 344
>   All of Township
>   28S, Range 10E, Sections 1, 12, 13, 24, 25
>   The Eastern
>   quarters of Township 28S, Range 10E, Sections 11, 14, 23, 26, 35
>   The Western
>   three-quarters of Township 28S, Range 11E, Sections 6, 7, 18, 19, 30
>   The Western half of
>   Township 28S, Range 11E, Sections 31
>   The Western half of
>   Township 27S, Range 11E, Sections 31



Terms of purchase:

> 100% interest
>   Cash totaling
>   $900,000 [$150,000 on execution, $350,000 June 1, 2008, $400,000 June 1, 2009]
>   Shares totaling
>   900,000 shares [200,000 within 45 days of executing agreement, 300,000 June 1,
>   2008, 400,000 June 1, 2009]
>   Royalty - 4% on
>   Uranium, 2% on Vanadium



Additional Terms: Purchaser must spend a minimum of $300,000
on exploration on the property within 24 months of signing.



Description: The Property is located in the Henry Mountain Basin of South
Central Utah. The property is dissected by a good quality dirt road. The Henry
Mountain Basin is an enclosed structural basin within the Colorado Plateau of
southeastern Utah that is entirely underlain by the extensive uranium bearing
Salt Wash sandstone member of the Morrison formation. The basins first major
discovery, known as the Tony M mine, was made in the 80's by Plateau Resources,
a division of Michigan Light and Power, that developed into a 12,920,000 pound U308indicated and inferred resource (Stockwatch 2006-10-16 Int'l Uranium News
Release) ("reported") based on mining claims owned by Christian F. Murer.
Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M
mine by Exxon Oil Corporation, and consists of an additional 5,300,000 pound U308
inferred resource. The Tony M deposit area includes full mine infrastructure.
Following the discovery of the Tony M deposit in 1977, nearly 20 miles of mine
workings were developed. The mine is accessed via two parallel declines
extending over 10,000 feet into the deposit. The nearby Bullfrog resources can
be accessed via the Tony M infrastructure. This long-life mining operation is
expected to commence production in early 2007 subject to receipt of the
necessary permits. "reported" These mines, collectively known as the Henry
Mountains complex, are currently owned and are being re-activated by Denison
Mines and are one of the largest known uranium resources in the Colorado Plateau
district. Utah Uranium Corp "UTUC" has acquired the Pinto claims from Christian
(Ted) Murer, Exploration Geologist, who conceptualized, discovered and currently
holds a production royalty on the Tony M mine. Mr. Murer assembled the Pinto
uranium claims package by applying similar methodology to a compiled data base
elsewhere in the basin where similar geologic settings such as the Tony M and
Bullfrog mines are postulated. The Morrison formation is approximately 250-300
ft. thick in this area. Drilling depth to the top of the Salt Wash will vary in
depth from 50 to 150 ft. depending on dip and topography. The present plan is to
further define the north-south trend of ore accumulations within the various
sands of the Salt Wash based on known uranium deposition in the area. Based on
area extrapolations, these mining claims could hold significant amounts of
uranium and vanadium. Christian (Ted) Murer is working with the company
designing the drill program which is currently in the permitting stage. Phase
one will consist of a minimum of 20 rotary drill holes ranging from 100 to 400
feet in depth testing the Morrison formation. UTUC has also arranged an
agreement with Ted Murer that it will receive first right of refusal to acquire
any further uranium properties that Ted Murer develops within the Henry Mountain
Basin. The Company is in the process of applying for permits to drill test this
property, with a planned drilling program of up to 50 holes. It is anticipated
that permits for this will be approved in time to allow for a late summer, early
fall drilling program. Results from the first round of drilling will determine
the balance of future activities on this property.



Hat Property



Purchased from Bob Shupe and Gary Vancil on June 1, 2007



Number of claims: 18 totaling approximately 333 acres



Legal Description: Hat claims 1 through 18, located in
Montrose County, Colorado located within Township 45, Range 19, Section 3 and
Township 46, Range 19, Section 34.



Terms of purchase:

100% interest

Cash totaling $375,000 [$10,000 on execution, $10,000 on
    or before August 22, 2007, $45,000 on or before December 22, 2007, $80,000
    on or before June 22, 2008, $100,000 on or before June 22, 2009, and
    $130,000 on or before June 22, 2010].

Shares totaling 400,000 shares [50,000 on or before
    December 22, 2007, 100,000 shares on or before June 22, 2008, 100,000 shares
    on or before June 22, 2009 and 150,000 shares on or before June 22, 2010].

> Royalty - 4% on Uranium



Additional Terms - None.



Description: The Hat property is located across state lines in the Eurovan
Mining Belt of southwestern Colorado, in an area of past producing mines. It is
accessible via a decent quality dirt road, with the final 1/2 mile of road in poor
condition. The Property hosts numerous production adits from previous mining
activity by US Vanadium Corporation (VCA) from the late 40's through to the
60's. Atlas Minerals acquired the property in the late sixties. Previous
drilling, carried out in the late 70's, confirmed the presence of a uranium ore
bearing channel trending NE. An initial property inspection by the company
revealed heavily mineralized sandstone visible in three channel systems from a
lower outcrop with several targeted horizons. Additionally, four smaller
channeling systems and historical workings were also investigated in the upper
exposed horizon. Visually apparent throughout were carbon trash beds, petrified
trees and organic matter that form an intensive reductant medium necessary for
the precipitation of uranium ores. Similar showings approximately 3,000 feet
south of these older workings support good exploration potential for this lower
lens. Lying one mile to south of the Property are the American Eagle Mine and
the Raven Mine which produced approximately one million pounds of uranium
through the 40's, 60's and the early 70's (Union Carbide & VCA). Denison Mines'
currently operating Sunday Mine Complex is 10 miles to the south and on trend.
Management is currently evaluating a proposed phase 1 work program to consist of
surface mapping, sampling, road rehabilitation, and approximately 3,500 feet of
exploration drilling for approximately 10 drill holes planned for within the
next 3 to 6 months. Three to four holes will twin historical holes on the top of
the Hat while 3 to 4 more to be place at the southern extent.



Whale Property



Purchased from David A. Lacy and Michael B. Lacy on June 1,
2007



Number of claims: 33 totaling approximately 660 acres



Legal Description: Stardust 1 through 22, Mint 1 and 2,
Rainbow 1, Footprint 29 through 31, Younglady 69 through 72 and Baggins 1
through 3, all located in San Juan County, Utah, located in Township 31, Range
21, Sections 15, 21, 22, 23, 27 and 28, Township 36, Range 17, Sections 22, and
Township 37, Range 15, Sections 30.



Terms of purchase:

100% interest

Cash totaling $280,000 [$40,000 on execution, $40,000 on
    or before October 1, 2007, $40,000 on or before February 1, 2008, $80,000 on
    or before June 1, 2008, and $80,000 on or before June 1, 2009].

Shares totaling 400,000 shares [100,000 on execution,
    50,000 shares on or before October 1, 2007, 50,000 shares on or before
    February 1, 2008, 100,000 shares on or before June 1, 2008 and 100,000
    shares on or before June 1, 2009].

Royalty - 4.5% on Uranium, of which one half may be
    purchased for $3,000,000 prior to June 1, 2009.



Additional Terms - None.



Description: The Whale property consists of 33 claims located in Lavender
Canyon in southeastern Utah. Access is via decent quality dirt road, with some
sections requiring minor work in order to allow other than four wheel drive
vehicles access.  About half of the property group lies under a mid-level
bench, the rest, under a large mesa. Plateau Resources drilled approximately 100
- 125 holes on the bench in the 1970's, followed by construction of an adit
estimated at 250 feet in length. It is estimated by the property vendors that
the adit was within 10 - 20 feet of the indicated ore when Plateau pulled out of
the project. It is understood that the decision to withdraw from this property
was a corporate decision based upon occurrences away from these particular
claims, and more closely related to financial issues facing the parent company.
Recognizing the importance of the ground cover provided by the Mesa northeast of
the bench containing the drill holes, the company employed the vendors to stake
additional claims which were then included in the agreement on this property.
The company has been attempting to contact an individual who reportedly holds
the drill data from Plateau Resources, although to date, the has been no success
in purchasing this data. In the absence of the data, the company is
contemplating an initial work program that would entail removal of old debris
(if present) from the previous drill holes, and re-logging the drill holes using
down-hole probes. A decision on this will be made during the summer with an
anticipated start of work commencing in the fall of 2007.

Item 2. Description of Property

Office Premises

We have a one year lease, ending on June 1, 2008, on our principal office
space located at 11850 South Highway 191, Unit B-9, Moab, Utah, USA, at a cost
of $2,000 per month.

For information on our mining properties and claims, please see Item 1.
Description of Business above.

Item 3. Legal Proceedings

Management is not aware of any legal proceedings contemplated by any
governmental authority or any other party involving us or our properties. As of
the date of this Annual Report, no director, officer or affiliate is (i) a party
adverse to us in any legal proceeding, or (ii) has an adverse interest to us in
any legal proceedings. Management is not aware of any other legal proceedings
pending or that have been threatened against us or our properties.



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

Subsequent to the fiscal year 2007, certain matters were submitted to our
shareholders for approval as follows:

On March 22, 2007, the Board of Directors authorized and approved, subject to
shareholder approval, the change of our name from "McNab Creek Gold Corp." to
"Utah Uranium Corp.", which the Board of Directors deemed to be in our best
interests and those of our shareholders. The Board further authorized the
preparation and circulation of an Information Statement to be filed under
section 14(c) of the Securities Exchange Act (the "Information Statement"),
which Information Statement was filed on May 18, 2007.

PART II

Item 5. Market for Common Equity and Related Stockholder Matters and Small
Business Issuer Purchases of Equity Securities.

Market information.

Our common stock is traded on the NASD OTC Bulletin Board under the symbol
UTUC. The following table sets for the periods indicated the high and low trades
per share of our common stock. Quotations commenced on the OTC Bulletin Board on
December 21, 2006. These over-the-counter market quotations reflect inter-dealer
prices without retail mark-up, mark-down or commission and may not necessarily
represent actual transactions:

Quarter Ended High Low

March 31, 2007 1.75 0.70

June 30, 2007 1.35 1.04

Holders: We have approximately 66 registered shareholders of record as of
July 11, 2007.

Share Purchase Warrants: At July 11, 2007 the company has warrants
outstanding that allows subscribers to purchase 400,000 shares of the Company's
common shares at a price of $0.50 until December 15, 2008.

Share Purchase Options: At March 31, 2007, there were no share purchase
options outstanding.

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

Dividends: We have not declared any cash dividends, nor do we intend to
do so. We are not subject to any legal restrictions respecting the payments of
dividends, except that they may not be paid to render us insolvent. Dividend
policy will be based on our cash resources and needs and it is anticipated that
all available cash will be needed for our operations in the foreseeable future.



Recent Sales of Unregistered Securities.

In December, 2005, we sold 383,760 shares at $0.10 per share to one
subscriber. This issuance of shares is a conversion of the Issuer's indebtedness
owed to Kenneth Townsend, our C.E.O. and President, in the amount of
US$38,376.00 as of September 30, 2005. This purchaser is not a U.S. person as
defined in Rule 902(k) of Regulation S, and no sales efforts were conducted in
the U.S., in accordance with Rule 903(c). This subscriber acknowledged that the
securities purchased must come to rest outside the U.S., and the certificates
contain a legend restricting the sale of such securities until the Regulation S
holding period is satisfied in accordance with Rule 903(b)(3)(iii)(A).

Also in November and December, 2005, we sold 440,000 common shares at $0.10
per share to four (4) subscribers under Regulation S. All of these subscribers
were friends, relatives or business associates of management and accordingly not
members of the public. None of the offerees or purchasers are U.S. persons as
defined in Rule 902(k) of Regulation S, and no sales efforts were conducted in
the U.S., in accordance with Rule 903(c). Subscribers to the offering
acknowledge that the securities purchased must come to rest outside the U.S.,
and the certificates contain a legend restricting the sale of such securities
until the Regulation S holding period is satisfied in accordance with Rule
903(b)(3)(iii)(A).

The Company completed a forward split of its common shares on a 20:1 basis as
of April 30, 2006.

In April 2006 the Company sold 442,900 (post forward split) shares of common
stock at a price of $0.10 per share. The subscriber was a friend, relative or
business associates of management and accordingly not a member of the public.
 The offeree or purchaser is not a U.S. person as defined in Rule 902(k) of
Regulation S, and no sales efforts were conducted in the U.S., in accordance
with Rule 903(c).  Subscribers to the offering acknowledge that the securities
purchased must come to rest outside the U.S., and the certificates contain a
legend restricting the sale of such securities until the Regulation S holding
period is satisfied in accordance with Rule 903(b)(3)(iii)(A).

In May of 2006, the Company retained Wannigan Capital Corp. ("Wannigan") to
provide consulting services. The Company issued to Wannigan 100,000 at a price
of $0.10/share (post forward split) of its $0.0001 par value common shares as
compensation.

In August 2006, the Company received $49,747 as common stock subscribed
towards the issuance of 500,000 (post forward split) shares of common stock at a
price of $0.10 per share. The shares were issued in February of 2007.

On November 13, 2006 the Company sold 400,000 (post forward split) shares of
common stock at a price of $0.25 per share carrying a warrant that allows the
subscriber to purchase 400,000 additional shares of the Company's common shares
at a price of $0.50 until December 15, 2008. The offeree or purchaser is not a
U.S. person as defined in Rule 902(k) of Regulation S, and no sales efforts were
conducted in the U.S., in accordance with Rule 903(c).  Subscribers to the
offering acknowledge that the securities purchased must come to rest outside the
U.S., and the certificates contain a legend restricting the sale of such
securities until the Regulation S holding period is satisfied in accordance with
Rule 903(b)(3)(iii)(A).



The common shares of the Company are all of the same class,
are voting and entitle stockholders to receive dividends. Upon liquidation or
wind-up, stockholders are entitled to participate equally with respect to any
distribution of net assets or any dividends which may be declared.

Transfer Agent: The Company continues to retain the
services of Computershare Inc., 350 Indiana Street, Suite 800, Golden, CO 80401
to act as transfer agent and registrar.

Item 6. Plan of Operation

Business Overview

The business of our Company is the acquisition, exploration and exploitation
of mineral properties having the potential to host economically viable uranium
deposits. Its geographic area of interest is the state of Utah and the "Four
Corners" area, where the states of Utah, Nevada, Colorado and New Mexico
intersect. The major geographical feature is the 90,000 square mile Colorado
Plateau which is rich in coal, oil shale and uranium.

Specifically, management is focused on the acquisition and development of
near term production properties in the Colorado plateau within economic hauling
distance to Denison's Mines White Mesa uranium & vanadium mill in Blanding,
Utah.

As of July 11, 2007, the Company has acquired interests in five mineral
properties.

Cash Requirements

We are a start-up exploration company and must raise cash to implement our
business plan. The company is in the process of acquiring and evaluating mineral
properties, therefore our cash requirements over the next twelve months depend
to a certain degree on acquisition opportunities as well as discoveries on our
properties. The payment requirements for properties that have been acquired, or
are being acquired after March 31, 2007 for the next twelve months is $55,000.
To continue operations and commence exploration on our current properties,
management estimates that the company will require approximately $3,000,000.

We are in the process of completing a private placement and have received
subscriptions of $80,000 as of July 11, 2007. Summertime is traditionally a slow
time to raise cash for small issuers; however management is in discussions with
numerous groups and individuals and anticipates closing this financing within
the next two months.

Since March 31, 2007 we have received shareholder loans totaling $200,000 for
property payments, office and warehouse expenses, exploration costs and
employees. Management anticipates meeting the company's short term cash
requirements through additional loans from shareholders and subscriptions for
the private placement.

Purchase of Significant Equipment

We do not intend to make any significant equipment purchases over the next
twelve months, other than spectrometers and office furnishings and computers.

Employees

Currently our only employees are our directors and officers. We do not expect
any material changes in the number of employees over the next twelve months. We
do and will continue to outsource contract employment as needed.

Item 7. Financial Statements

Following are the audited financial statements of the Company and the Report
of the Independent Auditor for the period ended March 31, 2007.





















UTAH URANIUM CORP.

(Formerly McNab Creek
Gold Corp.)

(An exploration stage
Company)



Financial Statements





March 31, 2007































---













Index

Report of Independent Registered Public Accounting Firm

Balance Sheets

Statements of Operations

Statement of Stockholders' Equity (Deficit)

Statements of Cash Flows

Notes to the Financial Statements

---



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Stockholders and Board of
Directors of Utah Uranium Corp.

(formerly McNab Creek Gold Corp.)

(an exploration stage Company)

We have audited the accompanying balance sheet of Utah
Uranium Corp. (formerly McNab Creek Gold Corp.) (an exploration stage Company)
as of March 31, 2007 and 2006 and the statements of operations, changes in
stockholders' equity (deficit) and cash flows for the years then ended and for
the period from February 15, 2001 (date of inception) to March 31, 2007. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits. The Company's financial statements as at March 31, 2005 were audited
by other auditors whose report dated June 26, 2005, included an explanatory
paragraph regarding the Company's ability to continue as a going concern. 
The financial statements for the period from February 15, 2001 (date of
inception) to March 31, 2005 reflect a total net loss of $124,878 of the related
cumulative totals.  The other auditors' reports have been furnished to us,
and our opinion, insofar as it relates to amounts included for such prior
periods, is based solely on the reports of such other auditors.



We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United States). Those standards
require that we plan and perform an audit to obtain reasonable assurance whether
the financial statements are free of material misstatement. The Company is not
required to have, nor were we engaged to perform, an audit of its internal
controls over financial reporting. Our audit included consideration of internal
controls over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company's internal controls over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.



In our opinion, these financial statements present fairly, in
all material respects, the financial position of Utah Uranium Corp. (formerly
McNab Creek Gold Corp.) at March 31, 2007 and 2006 and the results of its
operations and its cash flows for the years then ended and for the period from
February 15, 2001 (date of inception) to March 31, 2007 in accordance with
accounting principles generally accepted in the United States of America.



The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in Note
1 to the financial statements, the Company has not generated revenues since
inception, has incurred losses in developing its business, and further losses
are anticipated. The Company requires additional funds to meet its obligations
and the costs of its operations. These factors raise substantial doubt about the
Company's ability to continue as a going concern. Management's plans in this
regard are described in Note 1. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

"DMCL"



DALE MATHESON
CARR-HILTON LABONTE LLP

CHARTERED ACCOUNTANTS

Vancouver, Canada

July 10, 2007



---



---



---



---



---





---

1. Nature and Continuance of Operations

The Company was formed on February 15, 2001 under the laws of
the State of Nevada, USA. The Company is an exploration stage Company, as
defined by Statement of Financial Accounting Standard ("SFAS") No. 7 "Accounting
and Reporting for Development Stage Enterprises". The Company's principal
business is the acquisition and exploration of mineral resources. The Company
has not yet determined whether the properties contain mineral reserves that are
economically recoverable.



The financial statements are presented in US dollars and have
been prepared by management in accordance with generally accepted accounting
principles in the United States ("US GAAP") on a going concern basis, which
contemplates the realization of assets and the discharge of liabilities in the
normal course of business for the foreseeable future.



During the year ended March 31, 2007, the Company incurred a
loss of $160,922 (2006: $109,536) and at March 31, 2007 had an accumulated
deficit of $395,336 (2006: $234,414) and a working capital deficit of $42,337
(2006: $47,567). The ability of the Company to continue as a going concern is
uncertain and dependant upon achieving a profitable level of operations and on
the ability of the Company to obtain necessary financing to fund ongoing
operations.  The outcome of these matters cannot be predicted at this time.

These financial statements do not give effect to any
adjustments which would be necessary should the Company be unable to continue as
a going concern and therefore be required to realize its assets and discharge
its liabilities in other than the normal course of business and at amounts
different from those reflected in the accompanying financial statements.

The Company has not generated any operating revenues to date.
The Company does not have adequate funds to cover overhead expenses for the next
year and is in the process of raising additional financing to fund exploration
activities on its recently acquired mineral properties. Refer to Note 10 -
Subsequent Events.



2.    Significant Accounting Policies

(a)    Accounting Estimates

The preparation of financial statements in conformity with US
GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period.  Actual results could
differ from those estimates and assumptions reported amounts of revenues and
expenses during the reporting period.  Actual results could differ from those
estimates and assumptions.



(b)    Foreign Currency Translation



The Company considers the US dollar as its functional
currency.



At the transaction date, non-monetary assets and liabilities
are translated into US dollar equivalents by the use of the exchange rate in
effect at that date.  At period end, monetary assets and liabilities are
re-measured by using the exchange rate in effect at that date.  Revenues and
expenses are translated at the average rate for the period. The resulting
foreign exchange gains and losses are included in operations.

---

2. Significant Accounting Policies (cont'd...)



(c)    Equipment



Equipment consists of computer equipment, which is recorded
at cost and is depreciated using the declining balance method at a rate of 30%
per annum.



(d)    Mineral Property Costs



The Company is primarily engaged in the acquisition,
exploration and development of mineral properties. Mineral property acquisition
costs are capitalized in accordance with EITF 04-2 when management has
determined that probably future benefits consisting of a contribution to future
cash inflows, have been identified and adequate financial resources are
available or are expected to be available as required to meet the terms of
property acquisition and budgeted exploration and development expenditures.
Mineral property acquisition costs are expensed as incurred if the criteria for
capitalization is not met. Mineral property exploration costs are expensed as
incurred. When it has been determined that a mineral property can be
economically developed as a result of establishing proven and probable reserves,
the costs incurred to develop such property are capitalized. As of the date of
these financial statements, the Company has incurred only acquisition and
exploration costs which have been expensed. To date the Company has not
established any proven or probable reserves on its mineral properties.



(e)    Long-Lived Assets Impairment



The carrying value of long-lived assets with fixed or
determinable lives are reviewed for impairment whenever events or changes in
circumstances indicate the recoverable value may be less than the carrying
amount. Recoverable value determinations are based on management's estimates of
undiscounted future net cash flows expected to be recovered from specific assets
or groups of assets through use or future disposition. Impairment charges are
recorded in the period in which determination of impairment is made by
management.



Assets with indefinite or indeterminable lives are not
amortized and are reviewed for impairment on a reporting basis using fair value
determinations through management's estimate of recoverable value.



(f)    Asset Retirement Obligations



The Company recognizes a liability for future retirement
obligations associated with the Company's mineral properties.  The estimated
fair value of the assets retirement obligation is based on the current cost
escalated at an inflation rate and discounted at a credit adjusted rate.  This
liability is capitalized as part of the cost of the related asset and amortized
over its productive life.  The liability accretes until the Company settles the
obligation.  As of March 31, 2007 and March 31, 2006, the Company had no asset
retirement obligations.

---



2. Significant Accounting Policies (cont'd...)



(g)    Loss per Share



The Company computes loss per share in accordance with SFAS
No. 128, "Earnings per Share" which requires presentation of both basic and
diluted earnings per share on the face of the statement of operations. Basic
loss per share is computed by dividing net loss available to common shareholders
by the weighted average number of outstanding common shares during the period.
Diluted loss per share gives effect to all potentially dilutive common shares
outstanding during the period including stock options and warrants, using the
treasury method, and preferred stock, using the if-converted method. Dilutive
loss per share excludes all potential common shares if their effect is
anti-dilutive. As the Company has no potential dilutive securities, basic loss
per share is equal to diluted loss per share.



(h)    Fair Value of Financial Instruments



Fair value estimates of financial instruments are made at a
specific point in time, based on relevant information about financial markets
and specific financial instruments.  As these estimates are subjective in
nature, involving uncertainties and matters of significant judgment, they cannot
be determined with precision.  Changes in assumptions can significantly affect
estimated fair values.



The respective carrying value of certain on-balance-sheet
financial instruments approximated their fair value. These financial instruments
include cash, accounts payable and accrued liabilities and due to a director.
Fair values were assumed to approximate carrying values for these financial
instruments, since they are short term in nature.  Management is of the opinion
that the Company is not exposed to significant interest or credit risks arising
from these financial instruments.  The Company is operating outside of the
United States and has exposure to foreign currency risk due to the fluctuation
of the currency in which the Company operates and the US dollar. The Company
does not use any hedging instruments.



(i)    Income Taxes



The Company recognizes deferred tax liabilities and assets
for the expected future tax consequences of events that have been recognized in
the Company's financial statements or tax returns using the liability method.
 Under this method, deferred tax assets and liabilities are determined based on
the temporary differences between the financial statement and tax bases of
assets and liabilities using enacted tax rates in effect in the years in which
the differences are expected to reverse.



(j)    Stock-based Compensation



The Company has adopted SFAS No. 123(R), "Share-Based
Payment", which required the compensation cost related to share-based payments,
such as stock options and employee stock purchase plans, be recognized in the
financial statements based on the grant-date fair value of the award. As at
March 31, 2007, the Company has not adopted a stock option plan and has not
granted any stock options. Accordingly, no stock-based compensation has been
recorded to date.

---



2. Significant Accounting Policies (cont'd...)



(k)    Risk management:



Environmental risk:



The Company is engaged in mineral exploration and development
and is accordingly exposed to environmental risks associated with mineral
exploration activity. The Company is currently in the initial exploration stages
on its property interests and has not determined whether significant site
reclamation costs will be required. The Company would only record liabilities
for site reclamation when reasonably determinable and when such costs can be
reliably quantified.



The Company is not exposed to significant interest rate or
credit risk.



(l)    Recent Accounting Pronouncements



In February 2007, the Financial Accounting Standards Board ("FASB")
issued SFAS No. 159, "The Fair Value Option for Financial Assets and Financial
Liabilities". The Statement permits entities to choose to measure many financial
assets and financial liabilities at fair value. Unrealized gains and losses on
items for which the fair value option has been elected are reported in earnings.
SFAS No. 159 is effective for fiscal years beginning after November 15, 2007.
The Company is currently assessing the impact of SFAS No. 159 on its financial
position and results of operations.



In September 2006, the FASB issued SFAS No. 158, "Employers'
Accounting for Defined Benefit Pension and Other Postretirement Plans." This
Statement required an employer to recognize the over funded or under funded
status of a defined benefit post retirement plan (other than a multiemployer
plan) as an asset or liability in its statement of financial position, and to
recognize changes in that funded status in the year in which the changes occur
through comprehensive income. SFAS No. 158 is effective for fiscal years ending
after December 15, 2006. The implementation of SFAS No. 158 has not had any
material impact on the Company's financial position and results of operations.



In September 2006, FASB issued SFAS No. 157, "Fair Value
Measures"("SFAS No. 157"). This Statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles (GAAP),
expands disclosures about fair value measurements, and applies under other
accounting pronouncements that require or permit fair value measurements. SFAS No. 157
does not require any new fair value measurements. However, the FASB anticipates
that for some entities, the application of SFAS No. 157 will change current
practice. SFAS No. 157 is effective for financial statements issued for fiscal
years beginning after November 15, 2007, which for the Company would be its
fiscal year beginning April 1, 2008. The Company is currently evaluating the
impact of SFAS No. 157 but does not expect that it will have a material impact
on its financial statements.



In September 2006, the SEC issued Staff Accounting Bulletin
("SAB") No. 108, "Considering the Effects of Prior Year Misstatements when
Quantifying Misstatements in Current Year Financial Statements." SAB No. 108
addresses how the effects of prior year uncorrected misstatements should be
considered when quantifying misstatements in current year financial statements.
SAB No. 108 requires companies to quantify misstatements using a balance sheet
and income statement approach and to evaluate whether either approach results in
quantifying an error that is material in light of relevant quantitative and
qualitative factors. SAB No. 108 is effective for periods ending after
November 15, 2006. The adoption of SAB No. 108 has not had a material effect on
the Company's financial statements.

---



3.    Equipment



4.    Mineral Properties

On March 15, 2007 the Company entered into a Purchase
Agreement (the "Ekker Agreement") for the purchase of certain mining claims
located in Emery County, Utah. The Company will acquire 100% of the 50% interest
in these claims in exchange for cash and shares of common stock as follows:

- $38,000 cash to be paid within 60 days of the date of
    the Ekker Agreement ($33,029 paid),

- $50,000 cash to be paid by March 15, 2008,

- 100,000 shares of common stock to be issued within 60
    days of the date of the Ekker Agreement (issued subsequent to year end), and

- 100,000 shares of common stock to be issued by March
    15, 2008



On March 15, 2007, the Company entered into another Purchase
Agreement (the "Adams Agreement") for the purchase of certain mineral claims
also located in Emery County, Utah. The Company will acquire 100% of the 50%
interest in these claims, which represents the additional

50% included under the Ekker Agreement, in exchange for cash
and shares of common stock as follows:

- $200,000 within 60 days of the execution of the Adams
    Agreement (paid subsequent to year end),

- $130,000 on or before March 15, 2008,

- 150,000 shares of common stock to be issued within 60
    days of the date of the Adams Agreement (issued subsequent to year end), and

- 150,000 shares of common stock to be issued by March
    15, 2008



During the current year, the Company also spent $3,702 (2006:
$17,060) on general exploration on mineral property interests which the Company
decided not to pursue.



5.    Related Party Transactions

Included in consulting fees is $15,500 (2006: $Nil) paid or
accrued to an officer of the Company.



Included in consulting fees is $5,000 (2006: $Nil) paid or
accrued to the President of the Company. During the year, the Company entered
into a consulting agreement with the President, whereby the Company is obligated
to pay $5,000 per month to the President, for a term of two years.

The amount due to a director of $13,030 at March 31, 2007
(2006: $13,030) is unsecured, non-interest bearing and has no specific terms for
repayment.



6.    Common Stock



During the year ended March 31, 2007, the Company entered
into the following stock related transactions:

---



(a)    The Company completed a forward
    split of its common shares on a 20:1 basis as of April 30, 2006. All share
    amounts have been retroactively adjusted for all periods presented.

(b)    The Company retained Wannigan
    Capital Corp. ("Wannigan") to provide consulting services. The Company
    issued to Wannigan 100,000 at a price of $0.10/share (post forward split) of
    its $0.0001 par value common shares as compensation.

(c)    On August 2, 2006, the Company
    issued 500,000 (post forward split) shares of common stock at a price of
    $0.10 per share for proceeds of $50,000.



(d)    The Company completed a private
    placement on December 15, 2006, issuing 400,000 shares (post forward split)
    at a price of $0.25 per share to ten investors for proceeds of $100,000.



During the year ended March 31, 2006, the Company entered
into the following stock related transactions:



(a) The Company issued 8,800,000 (post forward split)
    shares of common stock at a price of $0.005 per share for total proceeds of
    $44,000.



(b) The Company issued 7,675,200 (post forward split)
    shares of common stock at a price of $0.005 per share to settle indebtedness
    in the amount of $38,376, comprised of amount due to a director of $4,544,
    promissory notes payable of $30,000 and accrued interest of $3,832.



The common shares of the Company are all of the same class,
are voting and entitle stockholders to receive dividends. Upon liquidation or
wind-up, stockholders are entitled to participate equally with respect to any
distribution of net assets or any dividends which may be declared.



Additional Paid-In Capital

The excess of proceeds received for shares of common stock
over their par value of $0.0001, less share issue costs, is credited to
additional paid-in capital.



7.    Donated Capital



The Company records transactions of commercial substance with
related parties at fair value as determined by management. Effective April 1,
2005, the Company recognizes donated services from officers of the Company for
office rent, valued at $500 per month totalling $6,000 for the year ending March
31, 2007 (2006: $6,000).

8.    Segmented Information

The Company's business is operating in one segment, being the
acquisition and exploration of mineral properties, and in one geographical area,
the USA.

9.    Income Taxes



Potential benefits of income tax losses are not recognized in
the accounts until realization is more likely than not. The Company has net
operating losses of approximately $395,000 which commence expiring in 2027.
Pursuant to SFAS No. 109, the Company is required to compute tax assets benefits
for net operating losses carried forward. Potential benefit of net operating
losses have not been recognized in these financial statements because the
Company cannot be assured it is more likely than not it will utilize the net
operating losses carried forward in future years.

---

|                       | March 31, 2007 | March 31, 2006
|---------------------- | -------------- | --------------
|Net loss carryforward  | $ 395,000      | $ 234,000     
|Statutory tax rate     | 30%            | 30%           
|Deferred tax asset     | 118,500        | 70,200        
|Valuation allowance    | (118,500)      | (70,200)      
|Net Deferred tax asset | -              | -             



10.    Subsequent Events



The following transactions occurred after the year ended
March 31, 2007:



(a)    The Company issued 100,000 common
shares pursuant to the Ekker Agreement (Note 4).

(b)    The Company issued 150,000 common
shares pursuant to the Adams Agreement (Note 4).

(c)    The Company entered into Purchase
Agreement (the "Family Butte Property Agreement") for the purchase of certain
mining claims located in Wayne County, Utah. The Company will acquire 100% of
the interest in these claims in exchange for cash and shares of common stock as
follows:

- $10,000 cash to be paid upon execution of the Family
    Butte Property Agreement (paid),

- $40,000 cash to be paid by June 10, 2007 (paid),

- 400,000 shares of common stock to be issued within 60
    days of the date of the Family Butte Property Agreement (issued), and

- 200,000 shares of common stock to be issued by April
    10, 2008.

(d)    The Company entered into four
promissory note agreements with one shareholder and one promissory note
agreement with another shareholder of the Company for total proceeds of
$200,000. These promissory notes are unsecured, non-interest bearing and have no
specific terms for repayment

(e)    The Company entered into a Purchase
Agreement (the "Pinto Claims Agreement") for the purchase of certain mining
claims located in Wayne County, Utah. The Company will acquire 100% of the
interest in these claims in exchange for cash and shares of common stock as
follows:

- $150,000 cash to be paid upon execution of the Pinto
    Claims Agreement (paid),

- $50,000 cash to be paid by June 1, 2008,

- $400,000 cash to be paid by June 1, 2009,

- 200,000 shares of common stock to be issued within 45
    days of the date of the Pinto Claims Agreement (issued),

- 300,000 shares of common stock to be issued by June 1,
    2008, and

- 400,000 shares of common stock to be issued by June 1,
    2009.

The Company also has to expend $300,000 as work commitment on
the Pinto Claims within the 24 month period following the date of execution of
the Pinto Claims Agreement. .

10. Subsequent Events (cont'd...)

(f)    The Company entered into a Purchase
Agreement (the "Hat Claims Agreement") for the purchase of certain mining claims
located in Montrose County, Colorado. The Company will acquire 100% of the
interest in these claims in exchange for cash and shares of common stock as
follows:

- $10,000 cash to be paid upon execution of the Hat
    Claims Agreement (paid),

- $10,000 cash to be paid by August 22, 2007,

- $45,000 cash to be paid by December 22, 2007,

- $80,000 cash to be paid by June 22, 2008,

- $100,000 cash to be paid by June 22, 2009,

- $130,000 cash to be paid by June 22, 2010,

- 50,000 shares of common stock to be issued within 45
    days of the date of the Pinto Claims Agreement (issued),

- 50,000 shares of common stock to be issued by December
    22, 2007,

- 100,000 shares of common stock to be issued by June 22,
    2008,

- 100,000 shares of common stock to be issued by June 22,
    2009, and

- 150,000 shares of common stock to be issued by June 22,
    2010.



The Company received $50,000 in advance proceeds towards the issuance of
62,500 shares of common stock at a price of $0.80 per share pursuant to a
private placement financing.

---

Item 8. Changes in and Disagreement with Accounts on Accounting and
Financial Disclosure.

Our Independent Auditors are Dale Matheson Carr-Hilton Labonte LLP, Chartered
Accountants, 1140 West Pender Street, Suite 1500, Vancouver, British Columbia,
V6E 4G1, Canada. During the period from inception to March 31st, 2007 there have
been no disagreements of any kind with the company's Independent Auditors.

Item 8A. Controls and Procedures

An evaluation was conducted under the supervision and with the participation
of our management, including Peter Dickie, our President and Christopher Turley,
our Chief Financial Officer ("CFO"), of the effectiveness of the design and
operation of our disclosure controls and procedures as of March 31, 2007. Based
on that evaluation, Messrs. Dickie and Turley concluded that our disclosure
controls and procedures were effective as of such date to ensure that
information required to be disclosed in the reports that we file or submit under
the Exchange Act, is recorded, processed, summarized and reported

within the time periods specified in SEC rules and forms. Such officers also
confirm that there was no change in our internal control over financial
reporting during the year ended March 31, 2007, that has materially affected, or
is reasonably likely to materially affect, our internal control over financial
reporting.



Item 8B. Other Information



During the year ended March 31st, 2007 there was no information required to
be reported on Form 8K which was no previously reported.

PART III

Item 9. Directors, Executive Officers, Promoters, Control Persons and
Corporate Governance; Compliance with Section 16(a) of the Exchange Act

All of our directors hold office until the next annual general meeting of our
shareholders or until their successors are elected and qualified. Our officers
are appointed by our board of directors and hold office until their earlier
death, retirement, resignation or removal. Our directors and executive officers
and their respective ages as of the date of this Annual Report are as follows:

|                           | Position Held               |     | Date First Elected or
|-------------------------- | --------------------------- | --- | ---------------------
|Name                       | With the Company            | Age | Appointed            
|                           |                             |     |                      
|Peter Dickie               | President and
    Director  | 43  | March 8, 2007        
|                           |                             |     |                      
|Christopher R.
    Verrico | Director                    | 49  | February 11,
    2005
|                           |                             |     |                      
|Michael H.
    Sandidge    | Director                    | 50  | May 15, 2007         
|                           |                             |     |                      
|Donald O.
    Miller       | Director                    | 56  | June 20, 2007        
|                           |                             |     |                      
|Christopher J.
    Turley  | Chief
    Financial Officer | 38  | December 1,
    2006 

PETER DICKIE. Mr. Peter Dickie has been the President and a director of our
Company since March 8, 2007. Mr. Dickie has over 10 years experience working
with public companies and in the securities industry. A graduate of both the
University of Victoria and the University of British Columbia, Mr. Dickie has a
broad range of management level experience. For the past seven years, Mr. Dickie
has managed his own consulting business and has a variety of senior management
experience with private and public companies.

CHRISTOPHER R. VERRICO. Mr. Christopher Verrico has been a director of our
Company since February 11, 2005. Mr. Verrico has been a director and officer of
Lateegra Gold Corp. (listed on the TSX Venture Exchange) since October, 2006,
and a director and officer of West Hawk Development Corp. (listed on the TSX
Venture Exchange) since November, 2004. He worked as a construction
superintendent for JJM Construction Ltd. from July, 2003, to October, 2004 and a
consultant and promoter for Candente Resources Corp. from April, 2000 to May,
2003. Mr. Verrico has extensive mineral resource public company knowledge.

MICHAEL H. SANDIDGE. Mr. Michael Sandidge has been a director of our Company
since May 15, 2007. Mr. Sandidge earned his Bachelor of Science in geology from
the University of Washington in 1985, and his Masters of Science in geology from
the University if Texas (El Paso) in 1993. Mr. Sandidge has been a director of
West Hawk Development Corp. (listed on the TSX Venture Exchange) since February,
2005 and was a self-employed geologist from November, 1994, to February, 2005.
He has authored or co-authored more than 15 scientific articles relating to
structural geology, metallogenesis, and tectonics. He has affiliations with the
Society of Economic Geologists, Society of Geology Applied to Mineral Deposits,
and is a Washington State Professional Geologist (#2245) and a qualified person
under NI 43-101 (Canadian National Instrument Qualified Person).

DONALD O. MILLER. Mr. Donald Miller has been a director of our Company since
June 20, 2007. Mr. Miller has 35 years in the mining industry in senior
management positions working for seven mining and natural resource companies in
14 countries on 5 continents. He has extensive experience in startups and rapid
growth companies in uranium (Anaconda Mining); gold and silver (Newmont Mining,
Getchell Gold, Apollo Gold); zinc and lead (Apollo Gold); coal (ARCO Coal,
Cyprus Coal); copper (Anaconda Mining, Cyprus Copper); moly (Anaconda Mining,
Cyprus Minerals); talc (Cyprus Talc); lithium (Cyprus Minerals); and oil & gas
(ARCO). He has consulted in organizational design and management development for
20 companies in North and South America, specializing in mergers and
acquisitions and labor relations matters. Mr. Miller completed his undergraduate
work in Business (B.S. degree) at the University of Arizona, attended the Penn
State University Executive Management program and received an MBA with finance
emphasis from the University of Phoenix.



CHRISTOPHER J. TURLEY. Mr. Christopher J. Turley has been the Chief Financial
Officer of our Company since December 1, 2006. Mr. Turley's employment agreement
is for a one year term, cancellable by either party with 30 days' notice, with
compensation of $1,000 per week, plus expenses. Form August, 2003, to November
30, 2006, Mr. Turley was an independent capital markets consultant to venture
companies trading both in Canada and the U.S., negotiating and structuring
financial transactions, raising funds directly and through intermediaries and
creating investor awareness campaigns. Between 1996 and 2003, Mr. Turley was an
investment advisor with Canaccord Capital Corp. in Vancouver, British Columbia,
providing a range of investment services from portfolio allocation to
speculative account management. From 1991 to 1996, Mr. Turley was employed by
ABB (Asea Brown Boveri Inc.), a European multinational electrical engineering
company, in accounting and finance. Mr. Turley holds a Bachelor of Commerce
degree from McGill University and Master of Business Administration degree from
the University of British Columbia.

Significant Employees

On May 15, 2007, our Company appointed Dr. Tibor G. Rozgonyi to its Technical
Advisory Board. Dr. Rozgonyi currently sits as Head Professor of the Mining
Engineering Department at the Colorado School of Mines and from 1990 to 1995 he
served as Dean of Engineering at the University of Wollongong, Australia. In
recognition of his professional accomplishments, Dr. Rozgonyi was elected to the
Australian Academy of Technological Sciences & Engineering.

On June 20, 2007, our Company announced that it had hired Mr. Glenn Harder,
an uranium geologist, to evaluate uranium projects for the Company. Mr. Harder
is a geologist with over 20 years experience in uranium and gold. He has
extensive experience in Canada ranging from Vancouver Island to the Labrador
coast, having work experience with Granges, Rayrock, Brinco, Home Oil, Sherritt
Gordon, Gulf Minerals, Teck, Hunter Dickenson, Saarberg, Geotest, RH Morse and
others. He has explored for uranium in Saskatchewan, Ontario and the Maritimes
and is familiar with all aspects of the industry from grassroots to underground
exploration. He has participated in many projects now in production or at an
advanced stage.  Mr. Harder pioneered the measurement of radon in soil and
water as an effective uranium tool. He has a B.Sc. (Hon) in Geology from the
University of Ottawa and a B.A. in Physics from Queen's.

Family Relationships

There are no family relationships among our directors and officers.

Involvement in Legal Proceedings

None of our directors, executive officers or control persons have been
involved in any of the following events during the past five years: (i) any
bankruptcy petition filed by or against any business or which such person was a
general partner or executive officer either at the time of the bankruptcy or
within two years prior to that time; (ii) any conviction in a criminal
proceeding or being subject to a pending criminal proceeding (excluding traffic
violations and other minor offences); (iii) being subject to any order,
judgment, or decree, not subsequently reversed, suspended or vacated, of any
court of competent jurisdiction, permanently or temporarily enjoining, barring,
suspending or otherwise limiting his involvement in any type of business,
securities or banking activities; or (iv) being found by a court of competent
jurisdiction (in a civil action), the Commission or the Commodity Futures
Trading Commission to have violated a federal or state securities or commodities
law, and the judgment has not been reversed, suspended, or vacated.

Board and Committee Meetings

The Board of Directors of the Company held informal meetings during the year
ended March 31, 2007. All proceedings of the Board of Directors were conducted
by resolutions consented to in writing by all the directors and filed with the
minutes of the proceedings of the directors. Such resolutions consented to in
writing by the directors entitled to vote on that resolution at a meeting of the
directors are, according to the Nevada General Corporate Law and the By-laws of
the Company, as valid and effective as if they had been passed at a meeting of
the directors duly called and held.

For the year ended March 31, 2007, our only standing committee of the Board
of Directors was our audit committee.

Audit Committee

Currently our audit committee consists of our entire Board of Directors. We
currently do not have nominating, compensation committees or committees
performing similar functions. There has not been any defined policy or procedure
requirements for shareholders to submit recommendations or nomination for
directors.

During fiscal 2007, there were informal meetings held by this Committee. The
business of the Audit Committee was conducted by resolutions consented to in
writing by all the members and filed with the minutes of the proceedings of the
Audit Committee.

Audit Committee Financial Expert

Our board of directors has determined that it does not have a member of its
audit committee that qualifies as an "audit committee financial expert" as
defined in Item 401(e) of Regulation S-B, and is "independent" as the term is
used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act of
1934, as amended.

We believe that the members of our board of directors are collectively
capable of analyzing and evaluating our financial statements and understanding
internal controls and procedures for financial reporting. In addition, we
believe that retaining an independent director who would qualify as an "audit
committee financial expert" would be overly costly and burdensome and is not
warranted in our circumstances given the early stages of our development and the
fact that we have not generated any material revenues to date.

Section 16(a) Beneficial Ownership Compliance

Section 16(a) of the Securities Exchange Act requires our executive officers
and directors, and persons who own more than 10% of our common stock, to file
reports regarding ownership of, and transactions in, our securities with the
Securities and Exchange Commission and to provide us with copies of those
filings. Based solely on our review of the copies of such forms received by us,
or written representations from certain reporting persons, we believe that
during fiscal year ended March 31, 2007, all filing requirements applicable to
its officers, directors and greater than 10% percent beneficial owners were
complied with.

Code of Ethics

Effective June 1, 2005, our company's board of directors adopted a Code of
Business Conduct and Ethics that applies to, among other persons, our company's
President and Secretary (being our principal executive officer, principal
financial officer and principal accounting officer), as well as persons
performing similar functions. As adopted, our Code of Business Conduct and
Ethics sets forth written standards that are designed to deter wrongdoing and to
promote:



|1. | honest and
    ethical conduct, including the ethical handling of actual or apparent
    conflicts of interest between personal and professional relationships;                                                        
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                        
|2. | full, fair,
    accurate, timely, and understandable disclosure in reports and documents
    that we file with, or submit to, the Securities and Exchange Commission and
    in other public communications made by us;
|   |                                                                                                                                                                                                                        
|3. | compliance with
    applicable governmental laws, rules and regulations;                                                                                                                                               
|   |                                                                                                                                                                                                                        
|4. | the prompt
    internal reporting of violations of the Code of Business Conduct and Ethics
    to an appropriate person or persons identified in the Code of Business
    Conduct and Ethics; and                      
|   |                                                                                                                                                                                                                        
|5. | accountability
    for adherence to the Code of Business Conduct and Ethics.                                                                                                                                           



Our Code of Business Conduct and Ethics requires, among other things, that
all of our company's Senior Officers commit to timely, accurate and consistent
disclosure of information; that they maintain confidential information; and that
they act with honesty and integrity.

In addition, our Code of Business Conduct and Ethics emphasizes that all
employees, and particularly Senior Officers, have a responsibility for
maintaining financial integrity within our company, consistent with generally
accepted accounting principles, and federal and state securities laws. Any
Senior Officer who becomes aware of any incidents involving financial or
accounting manipulation or other irregularities, whether by witnessing the
incident or being told of it, must report it to our company. Any failure to
report such inappropriate or irregular conduct of others is to be treated as a
severe disciplinary matter. It is against our company policy to retaliate
against any individual who reports in good faith the violation or potential
violation of our company's Code of Business Conduct and Ethics by another.

Our Code of Business Conduct and Ethics is filed with the Securities and
Exchange Commission as Exhibit 14.1 to our annual report. We will provide a copy
of the Code of Business Conduct and Ethics to any person without charge, upon
request. Requests can be sent to: Utah Uranium Corp., 11850 South Highway 191,
Unit B-9, Moab, Utah 84532.

Item 10. Executive Compensation

The following table sets forth the compensation paid to our President and
Chief Executive Officer during the fiscal year ended March 31, 2007. Mr.
Townsend resigned as officer and director on March 8, 2007, and Mr. Peter Dickie
was appointed President and director in his place. No officer, director or
employee earned in excess of $100,000 during the fiscal year.

|SUMMARY COMPENSATION TABLE      
|--------------------------------
|                                
|                                
|(a)                             
|Name and Principle 
    Position
|                                
|2005                            
|2006                            
|                                
|                                
|Peter Dickie,
    President     

Long-Term Incentive Plans

There are no arrangements or plans in which we provide pension, retirement or
similar benefits for directors or executive officers, except that our directors
and executive officers may receive stock options at the discretion of our Board
of Directors. We do not have any material bonus or profit sharing plans pursuant
to which cash or non- cash compensation is or may be paid to our directors or
executive officers, except that stock options may be granted at the discretion
of our board of directors.

We have no plans or arrangements in respect of remuneration received or that
may be received by our executive officers to compensate such officers in the
event of termination of employment (as a result of resignation, retirement,
change of control) or a change of responsibilities following a change of
control, where the value of such compensation exceeds $60,000 per executive
officer.

Compensation Of Directors

We reimburse our directors for expenses incurred in connection with attending
board meetings. We did not pay director's fees or other cash compensation for
services rendered as a director in the year ended March 31, 2007.

We have no formal plan for compensating our directors for their service in
their capacity as directors, although such directors are expected in the future
to receive stock options to purchase common shares as awarded by our board of
directors or (as to future stock options) a compensation committee which may be
established. Directors are entitled to reimbursement for reasonable travel and
other out-of-pocket expenses incurred in connection with attendance at meetings
of our board of directors. Our board of directors may award special remuneration
to any director undertaking any special services on our behalf other than
services ordinarily required of a director. No director received and/or accrued
any compensation for their services as a director, including committee
participation and/or special assignments.

Employment Contracts

During the period ended March 31, 2007, we paid total consulting fees of
$72,578 for consulting services to our Company.

On December 1, 2006, the Company entered into a one year Consulting Agreement
with Mr. Christopher Turley, our CFO, to provide assistance in its day-to-day
operations, for a fee of CDN$1,000 per week. Specifically, he assists in
interaction with the Company's auditors, transfer agent and regulatory
authorities.

On March 8, 2007, the Company entered into a two year Senior Management
Consulting Agreement with Mr. Peter Dickie, the President, to provide senior
management to the Company for a fee of CDN$5,000 per month. Specifically, he
performs the duties of the President, provides administration of the day-to-day
affairs, liaisons with the Company auditors, accountants, and lawyers, develops
financial plans, negotiates future acquisitions and business ventures and
negotiates financings on behalf of the Company.

There are no other arrangements or plans in which we provide pension,
retirement or similar benefits for directors or executive officers. Our
directors and executive officers may receive stock options at the discretion of
our board of directors in the future. We do not have any material bonus or
profit sharing plans pursuant to which cash or non-cash compensation is or may
be paid to our directors or executive officers, except that stock options may be
granted at the discretion of our board of directors.

We have no plans or arrangements in respect of remuneration received or that
may be received by our executive officers to compensate such officers in the
event of termination of employment (as a result of resignation, retirement,
change of control) or a change of responsibilities following a change of
control, where the value of such compensation exceeds $60,000 per executive
officer.

Item 11. Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters

The following table sets forth, as of July 12, 2007, certain information with
respect to the beneficial ownership of our common stock by each stockholder
known by us to be the beneficial owner of more than 5% of our common stock and
by each of our current directors and executive officers. Each person has sole
voting and investment power with respect to the shares of common stock, except
as otherwise indicated. Beneficial ownership consists of a direct interest in
the shares of common stock, except as otherwise indicated.



|Name and Address
    of Beneficial Owner and Position with Company                    | Position with
    Company                         | Amount
    Beneficially Owned | Percentage of
    Beneficial Ownership
|------------------------------------------------------------------------------------- | ------------------------------------------------- | ----------------------------- | --------------------------------------
|Peter Dickie
    2256 Spruce Street
    Vancouver, BC V6H 2P3                         | President and director                            | 90,000                        | 0.2%                                  
|Christopher Verrico
    3385 West 16th Avenue
    Vancouver, BC V6R 3C5               | Director                                          | 40,000                        | 0.1%                                  
|Michael Sandidge
    2741 Easy Street
    Wenatchee, WA 98801                         | Director                                          | 100,000                       | 0.3%                                  
|Kenneth Townsend
    2028 West 53rd Street
    Vancouver, BC, V6P 1H2                 | Former President, CEO, Secretary
    and Director | 20,155,200                    | 53.2%                                 
|Spectre Investments Inc.
    1128 - 789 West Pender Street
    Vancouver, BC, V6C 1H2 | N/A                                               | 3,200,000                     | 8.5%                                  
|Richard Luxford
    1128 - 789 West Pender Street
    Vancouver, BC, V6C 1H2          | N/A                                               | 2,100,000                     | 5.5%                                  
|James Zaniol
    1128 - 789 West Pender Street
    Vancouver, BC, V6C 1H2             | N/A                                               | 2,100,000                     | 5.5%                                  



Item 12. Certain Relationships and Related Transactions; Director
Independence

None of our directors, officers or principal stockholders, nor any associate
or affiliate of the foregoing have any interest, direct or indirect in any
transaction or any proposed transaction or in any proposed transactions, which
has materially affected or will materially affect us during the fiscal years
ended March 31, 2007 and 2006.

Director Independence

None of the members of the Board of Directors are considered to be
independent. We will appoint additional independent directors to our board and
committees in the future. We do not have any independent board members in our
audit committee who are considered to be financial experts.

Item 13. Exhibits and Reports on Form 8-K

|Exhibit |                                                                                                       
|------- | ------------------------------------------------------------------------------------------------------
|Number  | Description                                                                                           
|        |                                                                                                       
|(3)     | (i) Articles of Incorporation; and (ii) Bylaws                                                        
|        |                                                                                                       
|3.1     | Articles of Incorporation (incorporated by reference from our Form 10-SB
    filed on August 25, 2004)
|        |                                                                                                       
|3.2     | Bylaws (incorporated by reference from our Form 10-SB filed on August 25,
    2004)                   
|        |                                                                                                       
|(14)    | Code of Ethics                                                                                        
|        |                                                                                                       
|14.1*   | Code of
    Business Conduct and Ethics                                                               
|        |                                                                                                       
|(31)    | Rule 13a-14(a)/15d-14(a) Certifications                                                               
|        |                                                                                                       
|31.1*   | Section 302 Certification under Sarbanes-Oxley Act of 2002 of Kenneth G.
    Townsend                 
|        |                                                                                                       
|(32)    | Section 1350 Certifications                                                                           
|        |                                                                                                       
|32.1*   | Section
    906 Certification under Sarbanes-Oxley Act of 2002                                        



Item 14. Principal Accountant Fees and Services.

1. Audit Fees: Aggregate fees billed for each of the last two (2) fiscal
    years for professional services rendered by the principal accountant for the
    audit of the annual financial statements and review of financial statements
    included on Form 10-QSB:

2007: $12,000

2006: $6,750

2. Audit-Related Fees: Aggregate fees billed in each of the last two (2)
    fiscal years for assurance and related services by the principal accountant
    that are reasonably related to the performance of the audit or review of the
    financial statements and are not reported previously.

2007: $7,000

2006: $0

3. Tax Fees: Aggregate fees billed in each of the last two (2) fiscal
    years for professional services rendered by the principal accountant for tax
    compliance, tax advice, and tax planning.

2007: $0

2006: $0

4. All Other Fees: Aggregate fees billed in each of the last two (2)
    fiscal years for products and services provided by the principal accountant,
    other than the services previously reported.

2007: $0

2006: $0

5. Audit Committee Pre-Approval Procedures. The Board of Directors has
    not, to date, appointed an Audit Committee.





SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

UTAH URANIUM CORP.

/s/ Peter E. Dickie



Peter E. Dickie, President

Dated: July 16, 2007



In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the registrant in the capacities and on the dates
indicated.

/s/ Christopher R. Verrico



Christopher R. Verrico, Director

Dated: July 15, 2007



/s/ Christopher J. Turley



Christopher J. Turley, Chief Financial Officer

Dated: July 15, 2007