EXHIBIT 15.3

                             Financial Statements of

                                0724000 BC Ltd..

                         For the year ended May 31, 2005

                               and the period from

                        February 4, 2004 to May 31, 2004




<PAGE>




--------------------------------------------------------------------------------



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)

                              FINANCIAL STATEMENTS
                       FOR THE YEAR ENDED MAY 31, 2005 AND
            THE PERIOD FROM FEBRUARY 4, 2004 (DATE OF INCORPORATION)
                                 TO MAY 31, 2004

            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)

--------------------------------------------------------------------------------







                                      -1-
<PAGE>


DAVIDSON & COMPANY LLP               A Partnership of Incorporated Professionals
                      ----Chartered Accountants---------------------------------


                          INDEPENDENT AUDITORS' REPORT


To the Shareholders of
0724000 B.C. Ltd. (formerly Centrasia Mining Corp.)

We have audited the balance  sheets of 0724000  B.C.  Ltd.  (formerly  Centrasia
Mining Corp.) as at May 31, 2005 and 2004 and the statements of loss and deficit
and  cash  flows  for the  year  ended  May 31,  2005  and for the  period  from
incorporation  on February 4, 2004 to May 31, 2004.  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.

We conducted our audits in accordance with Canadian  generally accepted auditing
standards  and 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.  An audit 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.

In our opinion,  these  financial  statements  present  fairly,  in all material
respects,  the financial position of the Company as at May 31, 2005 and 2004 and
the results of its operations and cash flows for the year ended May 31, 2005 and
for the  period  from  incorporation  on  February  4,  2004 to May 31,  2004 in
accordance with Canadian generally accepted accounting principles.

                                                   /s/ DAVIDSON & COMPANY LLP


Vancouver, Canada                                    Chartered Accountants

October 5, 2005


                COMMENTS BY AUDITORS FOR U.S. READERS ON CANADA -
                            U.S. REPORTING DIFFERENCE

In the United States,  reporting  standards for auditors require the addition of
an explanatory  paragraph  (following the opinion  paragraph) when the financial
statements are affected by conditions and events that cast substantial  doubt on
the Company's ability to continue as a going concern, such as those described in
Note 1 to the financial statements. Our report to the shareholders dated October
5, 2005 is expressed in accordance  with Canadian  reporting  standards which do
not permit a reference to such events and  conditions  in the  auditors'  report
when these are adequately disclosed in the financial statements.

                                                   /s/ DAVIDSON & COMPANY LLP


Vancouver, Canada                                    Chartered Accountants

October 5, 2005

                          A Member of SC INTERNATIONAL

                  1200 - 609 Granville Street, P.O. Box 10372,
                 Pacific Centre, Vancouver, BC, Canada, V7Y 1G6
                   Telephone (604) 687-0947 Fax (604) 687-6172

                                      -2-
<PAGE>


                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                                 BALANCE SHEETS
                                  AS AT MAY 31
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


                                                     2005             2004
                                                      $                $

                                   A S S E T S

CURRENT ASSETS

Cash                                                    22,634           11,186
Receivables                                              1,329                -
Prepaids                                                 5,253              749
                                                  ------------     ------------
                                                        29,216           11,935
OPTION ON BMC (Note 4)                                 306,727                -
                                                  ------------     ------------
                                                       335,943           11,935
                                                  ============     ============


                              L I A B I L I T I E S

CURRENT LIABILITIES

Accounts payable and accrued liabilities (Note 7)      107,076           21,719
Indebtedness  (Note 5)                                 418,125           57,374
                                                  ------------     ------------
                                                       525,201           79,093
PROMISSORY NOTE (Note 3)                                25,000                -

AMOUNT PAYABLE (Note 7(a))                                   -            2,000
                                                  ------------     ------------
                                                       550,201           81,093
                                                  ------------     ------------


                  S H A R E H O L D E R S ' D E F I C I E N C Y

SHARE CAPITAL (Note 6)                                   4,654            1,349

CONTRIBUTED SURPLUS (Note 6)                            18,457            5,396

DEFICIT                                               (237,369)         (75,903)
                                                  ------------     ------------
                                                      (214,258)         (69,158)
                                                  ------------     ------------
                                                       335,943           11,935
                                                  ============     ============

NATURE AND CONTINUANCE OF OPERATIONS (Note 1)


APPROVED BY THE DIRECTORS


/s/ LINDSAY BOTTOMER     , Director
------------------------

/s/ DOUGLAS TURNBULL     , Director
------------------------


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

                                      -3-
<PAGE>

                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                         STATEMENTS OF LOSS AND DEFICIT
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


                                                                   PERIOD FROM
                                                                   FEBRUARY 4,
                                                                       2004
                                                      YEAR       (INCORPORATION)
                                                     ENDED              TO
                                                  MAY 31, 2005     MAY 31, 2004
                                                        $                $
EXPENSES

Audit                                                   12,000            5,000
Filing fees                                              2,449            1,600
Foreign exchange (gain)                                 (1,167)             (71)
Interest on indebtedness                                25,062            1,381
Legal                                                   38,198            9,596
Management fees                                         45,500           18,000
Office                                                  17,792            6,230
Rent                                                     9,640            2,247
Professional fees                                        9,514           15,128
Travel and related costs                                 2,478           16,792
                                                  ------------     ------------
                                                       161,466           75,903
                                                  ------------     ------------
LOSS FOR THE PERIOD                                   (161,466)         (75,903)
DEFICIT - BEGINNING OF PERIOD                          (75,903)               -
                                                  ------------     ------------
DEFICIT - END OF PERIOD                               (237,369)         (75,903)
                                                  ============     ============


LOSS PER COMMON SHARE                                   $(0.11)      $(2,371.97)
                                                  ============     ============

WEIGHTED AVERAGE NUMBER OF COMMON
    SHARES OUTSTANDING                               1,469,962               32
                                                  ============     ============






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


                                      -4-
<PAGE>




                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                            STATEMENTS OF CASH FLOWS
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


                                                                   PERIOD FROM
                                                                   FEBRUARY 4,
                                                                       2004
                                                      YEAR       (INCORPORATION)
                                                     ENDED              TO
                                                  MAY 31, 2005     MAY 31, 2004
                                                        $                $

CASH FLOWS PROVIDED FROM (USED FOR)

OPERATING ACTIVITIES
Loss for the period                                   (161,466)         (75,903)
Adjustments for items not involving cash
    Accrued interest on indebtedness                    25,062            1,381
    Common shares issued for management services        10,000                -
    Accrued management services                              -            2,000
                                                  ------------     ------------
                                                      (126,404)         (72,522)
Increase in receivables                                 (1,329)               -
Increase in prepaids                                    (4,504)            (749)
Increase in accounts payable and
    accrued liabilities                                 46,976           21,719
                                                  ------------     ------------
                                                       (85,261)         (51,552)
                                                  ------------     ------------
FINANCING ACTIVITIES

Issuance of common shares                                3,732                1
Issuance of preferred shares                               634            6,744
Promissory note                                         25,000                -
Indebtedness                                           335,689           55,993
                                                  ------------     ------------
                                                       365,055           62,738
                                                  ------------     ------------
INVESTING ACTIVITIES

Option on BMC                                         (268,346)               -
                                                  ------------     ------------
INCREASE IN CASH DURING THE PERIOD                      11,448           11,186

CASH - BEGINNING OF PERIOD                              11,186                -
                                                  ------------     ------------
CASH - END OF PERIOD                                    22,634           11,186
                                                  ============     ============

SUPPLEMENTARY CASH FLOW INFORMATION

Interest paid in cash                                        -                -
                                                  ============     ============
Income taxes paid in cash                                    -                -
                                                  ============     ============


Significant non-cash  transactions for the year ended May 31, 2005, consisted of
the Company exchanging  1,000,000  preferred shares, with a value of $7,378, for
1,000,000  common shares and issuing  2,000,000  common shares,  with a value of
$12,000, to settle amounts payable relating to management services rendered. The
Company  also  incurred  $38,381 of accounts  payable  and  accrued  liabilities
relating to deferred acquisition costs on its option on BMC.


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

                                      -5-
<PAGE>



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


1.       NATURE AND CONTINUANCE OF OPERATIONS

         On February 4, 2004,  Magellan Gold Corp. was incorporated in the State
         of Nevada.  On May 9, 2005,  Magellan  Gold Corp.  changed  its name to
         Centrasia  Mining Corp.  and was continued into the Province of British
         Columbia.  On September 14, 2005,  Centrasia  Mining Corp.  changed its
         name to  0724000  B.C.  Ltd.  (the  "Company").  The  Company is in the
         business  of  acquiring  and  exploring   mineral   properties  and  is
         considered to be in the exploration stage.

         As described in Notes 3 and 4, the Company has entered into  agreements
         to:

                  i)  acquire a  privately  owned  mineral  exploration  company
                      engaged in the  acquisition  and  evaluation  of  unproved
                      mineral interests in the Krygyz Republic; and
                  ii) conduct a corporate  reorganization  (completed subsequent
                      to May 31, 2005).

         As at May 31, 2005,  the Company had a working  capital  deficiency  of
         $495,985.  These financial  statements have been prepared in accordance
         with  Canadian  generally  accepted  accounting  principles  ("Canadian
         GAAP")  applicable  to a going  concern  which assumes that the Company
         will realize its assets and  discharge  its  liabilities  in the normal
         course of business.  Realization values may be substantially  different
         from the carrying values shown in the financial  statements  should the
         Company be unable to  continue as a going  concern.  The ability of the
         Company to complete its  acquisition,  settle its  liabilities  as they
         come due and to fund ongoing  operations is dependent  upon the ability
         of the Company to complete the proposed corporate  reorganization  and,
         or obtain additional funding from equity financing. Failure to continue
         as a going concern would require  restatement of assets and liabilities
         on a liquidation  basis,  which could differ  materially from the going
         concern basis.


2.       SIGNIFICANT ACCOUNTING POLICIES

         BASIS OF PRESENTATION

         These  financial  statements  have been  prepared  in  accordance  with
         Canadian GAAP. The significant differences between these principles and
         those that would be applied  under  United  States  generally  accepted
         accounting principles ("US GAAP") are disclosed in Note 10.

         These financial statements have, in management's opinion, been properly
         prepared  within  reasonable  limits  of  materiality  and  within  the
         framework of the significant accounting policies summarized below.

         USE OF ESTIMATES

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



                                      -6-
<PAGE>



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


2.       SIGNIFICANT ACCOUNTING POLICIES (continued)

         DEFERRED ACQUISITION COSTS

         Costs,  such as  legal,  accounting,  due  diligence  and  travel  fees
         relating to potential  business  acquisitions  are deferred and applied
         towards  the cost of the  acquisition  when  completed.  Such costs are
         expensed if the potential acquisition is no longer considered viable by
         management.

         INCOME TAXES

         Future income taxes are recorded  using the asset and liability  method
         whereby future tax assets and liabilities are recognized for the future
         tax  consequences  attributable  to  differences  between the financial
         statement carrying amounts of existing assets and liabilities and their
         respective tax bases.  Future tax assets and  liabilities  are measured
         using the enacted or substantively  enacted tax rates expected to apply
         when the asset is  realized  or the  liability  settled.  The effect on
         future  tax  assets  and  liabilities  of a  change  in  tax  rates  is
         recognized  in income  in the  period  that  substantive  enactment  or
         enactment  occurs.  To the extent that the Company does not consider it
         more  likely  than not that a future  tax asset will be  recovered,  it
         provides a valuation allowance against the excess.

         TRANSLATION OF FOREIGN CURRENCIES

         Monetary assets and liabilities  denominated in foreign  currencies are
         translated  into  Canadian  dollars at the  balance  sheet date rate of
         exchange and  non-monetary  assets and  liabilities  are  translated at
         rates  approximating  those in effect at the date of the  transactions.
         Revenues and expenses are  translated  at historical  rates.  Gains and
         losses are included in income.

         LOSS PER SHARE

         Basic loss per share is computed by dividing income available to common
         shareholders   by  the  weighted   average   number  of  common  shares
         outstanding during the period.


3.       CORPORATE REORGANIZATION

         On March 17,  2005,  the Company and its  shareholders  entered  into a
         letter  agreement (the "Letter  Agreement") with Centrasia Mining Corp.
         (FORMERLY BARADERO RESOURCES LIMITED)  ("Centrasia"),  a public company
         trading  on  the  facilities  of  the  TSX  Venture  Exchange  and  the
         Over-the-Counter  Bulletin Board, pursuant to which Centrasia agreed to
         purchase all of the issued and outstanding common shares of the Company
         in exchange for common shares of Centrasia on a one-for-one  basis (the
         "Acquisition").  The terms of the Letter  Agreement were finalized by a
         share purchase agreement (the "Formal  Agreement") dated July 25, 2005.
         On completion of the  Acquisition,  Centrasia also agreed to assume the
         common share issuance  obligations of the Company and settlement of the
         Company's indebtedness described in Notes 4 and 5.




                                      -7-
<PAGE>


                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


3.       CORPORATE REORGANIZATION (continued)

         Completion of the  Acquisition  was subject to a number of  conditions,
         including  shareholder  and regulatory  approvals.  On completion,  the
         Acquisition  will be treated,  for  accounting  purposes,  as a reverse
         take-over of Centrasia by the Company.

         On April 29,  2005,  the Company  received  an advance of $25,000  from
         Centrasia in exchange for a promissory note to Centrasia.  In the event
         the Acquisition was not completed, the advance would bear interest at a
         rate of 10% per annum,  commencing  from the date of termination of the
         Letter Agreement.

         On September  14, 2005,  the  Acquisition  was  completed and Centrasia
         assumed  the common  share  issuance  obligations  of the  Company  and
         settlement of the Company's indebtedness described in Notes 4 and 5.


4.       OPTION ON BMC

         By agreement dated September 24, 2004 and amended,  the Company entered
         into a letter  agreement (the "Marsa Option") to acquire all the issued
         and outstanding share capital of Bulakashu Mining Company Ltd. ("BMC"),
         a Krygyz limited liability  company,  from Marsa Gold Corp.  ("Marsa"),
         also a  privately  owned  Kyrgyz  company.  The sole  asset of BMC is a
         license  permitting  the  exploration  of the Bulakashu  Gold Property,
         located in the north central area of the Kyrgyz Republic.

         In order to exercise  the Marsa  Option in full,  the Company must make
         cash payments totalling US$120,000 and issue 1,025,000 common shares to
         Marsa  as  well  as  provide  advances  to  BMC  or  incur  exploration
         expenditures   on  the  Bulakashu  Gold  Property   (collectively   the
         "Commitments") of $200,000 and US$2,200,000, as follows:

<TABLE>
<CAPTION>

                                     CASH             SHARE
         DATE                      PAYMENTS         ISSUANCES               COMMITMENTS
                                                                   -----------------------------
                                      US$                               US$               $
<S>                             <C>              <C>              <C>              <C>

         Signing of agreements              -                -          110,000                -
         January 2, 2005               40,000                -                -                -
         September 1, 2005             40,000                -                -                -
         Closing of Transaction             -          200,000                -                -
         December 31, 2005                  -                -                -          200,000
         January 2, 2006               40,000          200,000                -                -
         December 31, 2006                  -                -          690,000                -
         January 2, 2007                    -          250,000                -                -
         December 31, 2007                  -                -          650,000                -
         January 2, 2008                    -          375,000                -                -
         December 31, 2008                  -                -          750,000                -
                                 ------------     ------------     ------------     ------------
                                      120,000        1,025,000        2,200,000          200,000
                                 ============     ============     ============     ============
</TABLE>



                                      -8-
<PAGE>



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


4.       OPTION ON BMC (continued)

         The Marsa Option provides for staged conversions of the Company's loans
         and  advances  to BMC  into  common  shares  of BMC at the  end of each
         calendar  year,  beginning  December 31, 2005. In the event the Company
         fails to meet any of its  commitments  or commits a material  breach of
         the Marsa Option,  Marsa has the right to require the Company to return
         any shares of BMC received and forgive the Commitments.

         As at May 31, 2005, the Company has advanced  US$110,000 and $10,000 to
         BMC and paid  US$40,000 to Marsa.  Under the terms of the Marsa Option,
         the  amounts  advanced  to  BMC  are to be  spent  on  exploration  and
         development  of the Bulakashu  Gold  Property.  As at May 31, 2005, the
         Company has also incurred  deferred  acquisition  costs of $110,142 for
         due diligence, professional, travel and legal costs associated with the
         acquisition of BMC.  Subsequent to May 31, 2005, the Company advanced a
         further  US$110,000 and $4,500 to BMC and paid an additional  US$40,000
         to Marsa.

         As described in Note 3, the  Acquisition was completed on September 14,
         2005 and Centrasia  assumed the share  obligations of the Company under
         the Marsa Option and issued  200,000 common shares of its capital stock
         to Marsa.  In addition,  the Marsa Option was assigned to Magellan Gold
         (BVI) Inc., an indirect wholly- owned subsidiary of Centrasia.


5.       INDEBTEDNESS

                                                      2005             2004
                                                        $                $

         Loans and advances                            391,682           55,993
         Accrued interest                               26,443            1,381
                                                  ------------     ------------
                                                       418,125           57,374
                                                  ============     ============

         The  Company  has  received  loans and  advances  from  creditors  (the
         "Creditors"). The loans and advances bear interest at a rate of 10% per
         annum. During the year ended May 31, 2005, the Company recorded $25,062
         (2004 -  $1,381)  interest  expense.  Effective  March  30,  2005,  the
         Company,  Centrasia  and the  Creditors  entered  into debt  settlement
         agreements  (the  "Debt  Settlements"),  whereby  Centrasia  agreed  to
         purchase  an  aggregate  of $371,682  of the  indebtedness  owed to the
         arm's-length  Creditors  through the issuance of  Centrasia  units (the
         "Centrasia Units") and an aggregate of $20,000 of the indebtedness owed
         to  directors  and  officers  of the Company  through  the  issuance of
         Centrasia common shares and repay the accrued interest in cash.

         Subsequent to May 31, 2005,  the Company  received a further  $8,318 of
         advances.  These  creditors  have also  entered  into  debt  settlement
         agreements on the same terms as negotiated with arm's-length creditors.

         As  described  in Note  3,  Centrasia  assumed  the  settlement  of the
         Company's  indebtedness.   On  September  14,  2005,  Centrasia  issued
         1,900,000   units  and  100,000  common  shares  to  the  Creditors  as
         consideration  for purchasing the $400,000 of  indebtedness.  Each unit
         consisted of one common share of Centrasia and share  purchase  warrant
         entitling  the  holder  to  purchase  one  additional  common  share of
         Centrasia  at a price of $0.40  per share  until  September  14,  2007.
         Centrasia also repaid in cash all accrued interest on the indebtedness.



                                      -9-
<PAGE>



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


6.       SHARE CAPITAL

         Authorized:   10,000,000 common shares
                       with par value of US$0.001 per share

                       10,000,000 preferred shares
                       with par value of US$0.001 per share
<TABLE>
<CAPTION>

                                                    NUMBER OF        PAR VALUE       CONTRIBUTED         TOTAL
         Issued:                                     SHARES              $             SURPLUS             $
        <S>                                      <C>              <C>              <C>              <C>

         Common Shares
            Balance, February 4, 2004                        -                -                -                -
            Issued for cash                                100                1                -                1
                                                  ------------     ------------     ------------    ------------
            Balance, May 31, 2004                          100                1                -                1
                                                  ------------     ------------     ------------     ------------
            Issued for cash                            600,000              746            2,986            3,732
            Issued pursuant to employment
              agreement (Note 7 (a))                 2,000,000            2,432            9,568           12,000
            Share exchange from preferred shares     1,100,000            1,475            5,903            7,378
                                                  ------------     ------------     ------------     ------------
                                                     3,700,000            4,653           18,457           23,110
                                                  ------------     ------------     ------------     ------------
            Balance, May 31, 2005                    3,700,100            4,654           18,457           23,111
                                                  ------------     ------------     ------------     ------------
         Preferred Shares
            Balance, February 4, 2004                        -                -                -                -
            Issued for cash                          1,000,000            1,348            5,396            6,744
                                                  ------------     ------------     ------------     ------------
            Balance, May 31, 2004                    1,000,000            1,348            5,396            6,744
                                                  ------------     ------------     ------------     ------------
            Issued for cash                            100,000              127              507              634
            Share exchange to common shares         (1,100,000)          (1,475)          (5,903)          (7,378)
                                                  ------------     ------------     ------------     ------------
                                                    (1,000,000)          (1,348)          (5,396)          (6,744)
                                                  ------------     ------------     ------------     ------------
            Balance, May 31, 2005                            -                -                -                -
                                                  ------------     ------------     ------------     ------------
         Total Share Capital, May 31, 2005           3,700,100            4,654           18,457           23,111
                                                  ============     ============     ============     ============
</TABLE>


7.       RELATED PARTY TRANSACTIONS

         (a)      Effective   April  1,  2004,  the  Company   entered  into  an
                  employment  agreement  whereby  the  President  is paid a base
                  salary of $5,000 per month for an  initial  term of two years.
                  The agreement will be automatically renewed for successive one
                  year periods  unless either party gives written notice of non-
                  renewal.  Under the  agreement,  the initial  twelve months of
                  salary was  satisfied by monthly cash  payments of $4,000 with
                  the  balance  of $1,000 to be  satisfied  by the  issuance  of
                  166,666  common  shares  of the  Company,  at a fair  value of
                  $0.006 (US$0.005) per share.



                                      -10-
<PAGE>



                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


7.       RELATED PARTY TRANSACTIONS (continued)

                  During  fiscal 2005,  the President  was  compensated  $60,000
                  (2004 - $18,000),  of which  $45,500 (2004 - $18,000) has been
                  recorded by the Company as management fees and $14,500 (2004 -
                  $nil) as part of due  diligence  costs on the  option  on BMC.
                  During fiscal 2005, the Company also issued  2,000,000  common
                  shares  in   satisfaction   of  the  common   share   issuance
                  obligation.  As at May  31,  2005,  $39,055  (2004  -  $9,291)
                  remained  unpaid of which $39,055 (2004 - $7,291) was included
                  in accounts  payable and accrued  liabilities and $nil (2004 -
                  $2,000) was recorded as amount payable.

         (b)      During the year ended May 31,  2005,  the  Company  was billed
                  $58,027 (2004 - $6,608) for professional  services provided by
                  certain  officers of the  Company and $25,818  (2004 - $3,437)
                  for legal services  provided by an officer of the Company.  As
                  at May 31, 2005, $49,700 (2004 - $4,173) remained  outstanding
                  and was included in accounts payable and accrued liabilities.

         See also Notes 4 and 5.

         These  transactions  are in the  normal  course of  operations  and are
         measured at the exchange  amount,  which is the amount of consideration
         established and agreed to by the related parties.


8.       INCOME TAXES

         A reconciliation of income taxes at statutory rates is as follows:

                                                      2005             2004
                                                        $                $

         Loss before income taxes                     (161,466)         (75,903)
                                                  ============     ============
         Expected income tax recovery                   57,482           27,021
         Unrecognized benefit of non-capital
              loss carryforwards                       (57,482)         (27,021)
                                                  ------------     ------------
         Income tax recovery                                 -                -
                                                  ============     ============

         The significant  components of the Company's future income taxes assets
         are as follows:

                                                      2005             2004
                                                        $                $
         Future income tax assets:
              Non-capital loss carryforwards            84,503           27,021
         Valuation allowance                           (84,503)         (27,021)
                                                  ------------     ------------
         Future income tax assets                            -                -
                                                  ============     ============

         The Company has available for deduction  against  future taxable income
         non-capital  losses of  approximately  $237,300.  These losses,  if not
         utilized,  will expire up to 2015.  Future tax benefits which may arise
         as a result of these  non-capital  losses have not been  recognized  in
         these  financial  statements  and  have  been  offset  by  a  valuation
         allowance.



                                      -11-
<PAGE>


                                0724000 B.C. LTD.
                        (FORMERLY CENTRASIA MINING CORP.)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEAR ENDED MAY 31, 2005 AND THE PERIOD
            FEBRUARY 4, 2004 (DATE OF INCORPORATION) TO MAY 31, 2004
            (EXPRESSED IN CANADIAN DOLLARS, UNLESS OTHERWISE STATED)


9.       FAIR VALUE OF FINANCIAL INSTRUMENTS

         The  Company's  financial  instruments  consist  of cash,  receivables,
         accounts  payable  and  indebtedness.  Unless  otherwise  noted,  it is
         management's  opinion  that the Company is not  exposed to  significant
         interest,  currency  or  credit  risks  arising  from  these  financial
         instruments. The fair value of these financial instruments approximates
         their carrying value, unless otherwise noted.


10.      DIFFERENCES BETWEEN CANADIAN AND UNITED STATES GENERALLY ACCEPTED
         ACCOUNTING PRINCIPLES

         (a)      These  financial  statements of the Company have been prepared
                  according to Canadian GAAP.  There are no material  variations
                  in the  accounting  principles,  practices and methods used in
                  preparing   these  financial   statements   from   principles,
                  practices  and  methods  accepted  in the United  States  ("US
                  GAAP").

         (b)      Recent Accounting Pronouncements

                  The Financial  Accounting  Standards Board ("FASB") has issued
                  Statement of Financial  Accounting  Standards No. 123(R) Share
                  Based Payments ("SFAS 123(R)"). SFAS 123(R) amends SFAS 123 by
                  requiring  share based  payments to be  accounted  for at fair
                  value.  SFAS 123(R) is  effective  for fiscal  periods  ending
                  after  June 15,  2005.  The  adoption  of SFAS  123(R)  is not
                  expected to have an effect on the Company's financial position
                  or results of operations.

                  The FASB has also issued SFAS No. 153 Exchange of Non-Monetary
                  Assets ("SFAS 153") which is effective for fiscal years ending
                  after June 15, 2005. SFAS 153 refines the circumstances  under
                  which  non-monetary  transactions  should be accounted  for at
                  fair value.  The  adoption of SFAS 153 is not expected to have
                  an effect on the  Company's  financial  position or results of
                  operations.

                  The FASB has also issued SFAS No. 154  Accounting  Changes and
                  Error  Corrections - A  Replacement  of APB Opinion No. 20 and
                  FASB  Statement  No. 3 ("SFAS  154"),  which is effective  for
                  fiscal years ending after December 15, 2005. SFAS 154 requires
                  that  changes  in  accounting  policy  be  accounted  for on a
                  retroactive basis. The adoption of SFAS 154 is not expected to
                  have an effect on the Company's  financial position or results
                  of operations.





                                      -12-
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