U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                For the quarterly period ended November 30, 2006

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from _______ to _______

                         Commission file number 0-32593

                              GENEVA GOLD CORP.
        _________________________________________________________________
        (Exact name of small business issuer as specified in its charter)

            NEVADA                                                98-0441019
_______________________________                              ___________________
(State or other jurisdiction of                               (I.R.S. Employer
incorporation of organization)                               Identification No.)


                          1005 Terminal Way, Suite 110
                               Reno, Nevada 89502
                    ________________________________________
                    (Address of Principal Executive Offices)

                                 (775) 348.9330
                           ___________________________
                           (Issuer's telephone number)

                           Revelstoke Industries, Inc.
                                14977 21st Avenue
                            Surrey, British Columbia
                                 Canada V4A 8G3
              ____________________________________________________
              (Former name, former address and former fiscal year,
                          if changed since last report)

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

                                Yes   X       No
                                   ________      ________

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


                                Yes           No   X
                                   ________     _________

<PAGE>


         Applicable only to issuers  involved in bankruptcy  proceedings  during
the preceding five years.

                                       N/A

         Check whether the Registrant  filed all documents  required to be filed
by  Section  12, 13 and 15(d) of the  Exchange  Act  after the  distribution  of
securities under a plan confirmed by a court.

                                Yes           No
                                   ________     _________

                      Applicable only to corporate issuers

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

Class                                  Outstanding as of January 12, 2007

Common Stock, $.001 par value                      41,200,000


Transitional Small Business Disclosure Format (check one)

                                Yes           No   X
                                   ________     _________


<PAGE>


PART I.  FINANCIAL INFORMATION

ITEM 1.  INTERIM FINANCIAL STATEMENTS

         BALANCE SHEETS

         INTERIM STATEMENTS OF OPERATIONS

            INTERIM STATEMENT OF STOCKHOLDERS' EQUITY

         INTERIM STATEMENTS OF CASH FLOWS

         NOTES TO INTERIM FINANCIAL STATEMENTS

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
            CONDITION OR PLAN OF OPERATION

ITEM 3. CONTROLS AND PROCEDURES

PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

ITEM 5.  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

SIGNATURES

<PAGE>


PART 1.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS



                                GENEVA GOLD CORP.
                     (FORMERLY REVELSTOKE INDUSTRIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                              FINANCIAL STATEMENTS

                                NOVEMBER 30, 2006

                                   (UNAUDITED)

















BALANCE SHEETS

STATEMENTS OF OPERATIONS

STATEMENTS OF CASH FLOWS

NOTES TO FINANCIAL STATEMENTS


                                       1

<PAGE>
<TABLE>
<CAPTION>




                                GENEVA GOLD CORP.
                     (FORMERLY REVELSTOKE INDUSTRIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                                 BALANCE SHEETS



                                                                                                November 30,         May 31,
                                                                                                    2006               2006
--------------------------------------------------------------------------------------------- ----------------- ------------------
                                                                                                (unaudited)

                                                             ASSETS

<S>                                                                                                <C>                <C>
CURRENT ASSETS
   Cash                                                                                            $    18,975        $    73,383
--------------------------------------------------------------------------------------------- ----------------- ------------------

                                                                                                   $    18,975        $    73,383
============================================================================================= ================= ==================



                                              LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued liabilities                                                         $   92,426        $    19,171
   Due to related parties (Note 5)                                                                          -              16,799
     Agreement Payable (Note 3(b))                                                                   7,400,000                  -
     Shareholders' loan (Note 6)                                                                       100,438            100,000
--------------------------------------------------------------------------------------------- ----------------- ------------------
                                                                                                     7,592,864             35,970
--------------------------------------------------------------------------------------------- ----------------- ------------------

CONTINGENCY AND COMMITMENTS (Notes 1, 3 and 7)

STOCKHOLDERS' EQUITY (DEFICIT)
   Capital stock (Note 4)
   Authorized
      50,000,000 shares of common stock, $0.001 par value,
   Issued and outstanding
      37,200,000 shares of common stock (May 31, 2006 - 37,200,000)                                     37,200             16,800
   Additional paid-in capital                                                                          136,967            157,367
   Deficit accumulated during the development stage                                                 (7,748,056)          (136,754)
--------------------------------------------------------------------------------------------- ----------------- ------------------

                                                                                                    (7,573,889)            37,413
--------------------------------------------------------------------------------------------- ----------------- ------------------

                                                                                                   $    18,975        $    73,383
============================================================================================= ================= ==================

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                      F-1

<PAGE>
<TABLE>
<CAPTION>


                                GENEVA GOLD CORP.
                     (FORMERLY REVELSTOKE INDUSTRIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                            STATEMENTS OF OPERATIONS
                                   (unaudited)


                                                                                                                     Cumulative
                                                         Three months   Three months                                results from
                                                             ended          ended       Six months    Six months    April 5, 2004
                                                         November 30,   November 30,       ended        ended      (inception) to
                                                             2006           2005         November      November     November 30,
                                                                                         30, 2006      30, 2005         2006
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------
<S>                                                        <C>            <C>            <C>           <C>           <C>

REVENUE                                                  $           -  $           -  $          -  $          -  $        46,974
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------

DIRECT COSTS                                                         -              -             -             -           56,481
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------

GROSS MARGIN (LOSS)                                                 -               -             -             -          (9,507)
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------

GENERAL AND ADMINISTRATIVE EXPENSES
   Office and general                                           15,031          2,846        15,366         3,699           48,270
     Consulting fees                                            25,701          2,285        25,701         5,337           54,794
     Mineral Property Expenditures (Note 3)                  7,500,000              -     7,500,000             -        7,500,000
   Professional fees                                            52,704          6,018        70,235        18,557          135,485
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------
                                                            (7,593,436)       (11,149)   (7,611,302)      (27,593)      (7,738,549)
------------------------------------------------------- --------------- -------------- ------------- ------------- ----------------

NET LOSS                                                 $  (7,593,436) $     (11,149) $ (7,611,302) $    (27,593) $    (7,748,056)
======================================================= =============== ============== ============= ============= ================




BASIC AND DILUTED LOSS PER COMMON SHARE                  $       (0.20) $       (0.00) $      (0.20) $      (0.00)
======================================================= =============== ============== ============= =============

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
-BASIC AND DILUTED                                           37,200,000     20,400,000    37,200,000    20,400,000
======================================================= =============== ============== ============= =============

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                      F-2

<PAGE>
<TABLE>
<CAPTION>


                                GENEVA GOLD CORP.
                     (FORMERLY REVELSTOKE INDUSTRIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                            STATEMENTS OF CASH FLOWS
                                   (unaudited)

                                                                                                                    Cumulative
                                                                                                                   results from
                                                                                 Six months       Six months       April 5, 2004
                                                                                    ended            ended        (inception) to
                                                                                 November 30,     November 30,     November 30,
                                                                                     2006             2005              2006
------------------------------------------------------------------------------ ---------------- ---------------- ------------------
<S>                                                                             <C>             <C>              <C>

CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                                                      $   (7,611,302) $       (27,593) $      (7,748,056)
  Adjustments to reconcile net loss to net cash used in operating activities:
      Non-cash property costs                                                        7,400,000                -          7,400,000
      Accounts receivable                                                                    -            (309)                  -
      Due from related party                                                           (16,799)               -                  -
      Prepaid expenses                                                                       -            8,375                  -
     Accounts payable and accrued liabilities                                           73,693          (40,249)            92,864
------------------------------------------------------------------------------ ---------------- ---------------- ------------------

NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES                                   (154,408)         (59,776)          (255,192)
------------------------------------------------------------------------------ ---------------- ---------------- ------------------


CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds on sale of common stock                                                          -                 -            174,167
   Proceeds from shareholder advances                                                  100,000                -            100,000
------------------------------------------------------------------------------ ---------------- ---------------- ------------------

NET CASH PROVIDED BY FINANCING ACTIVITIES                                              100,000                -            274,167
------------------------------------------------------------------------------ ---------------- ---------------- ------------------

NET INCREASE (DECREASE) IN CASH                                                        (54,408)         (59,776)            18,975

CASH, BEGINNING OF PERIOD                                                               73,383           63,704                  -
------------------------------------------------------------------------------ ---------------- ---------------- ------------------

CASH, ENDING OF PERIOD                                                          $       18,975  $         3,928  $          18,975
============================================================================== ================ ================ ==================


Supplemental disclosures with respect to cash flows:

  Interest paid                                                                             $-               $-                 $-
============================================================================== ================= ================ =================

  Income taxes paid                                                                         $-               $-                 $-
============================================================================== ================= ================ =================

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                      F-3

<PAGE>


GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION
________________________________________________________________________________

The  Company  was  incorporated  in the State of Nevada  on April 5,  2004.  The
Company  was  initially  formed to  engage in the  business  of  reclaiming  and
stabilizing  land in  preparation  for  construction  in the  United  States  of
America.  On November  27, 2006 the  Company  filed  Articles of Merger with the
Secretary of State of Nevada in order to effectuate a merger whereby the Company
(as Revelstoke Industries,  Inc.) would merge with its wholly-owned  subsidiary,
Geneva Gold Corp.  and the Company was the  surviving  corporation.  This merger
became  effective  as of December  1, 2006 and the  Company  changed its name to
Geneva Gold Corp.

During the quarter ended  November 30, 2006 the Company  entered the business of
exploration of precious  metals with a focus on the  exploration and development
of gold  deposits in North  America and  Internationally.  During the period the
Company entered into Option Agreements to obtain mineral leases in Canada and in
Panama.

The Company  has  elected a fiscal  year of May 31. On May 5, 2006;  the Company
completed  a forward  stock  split by the  issuance  of 42 new shares for each 1
outstanding  share of the  Company's  common  stock.  On October 13,  2006;  the
Company completed a forward stock split by the issuance of 4 new shares for each
1 outstanding share of the Company's stock.

GOING CONCERN
To date the Company has generated minimal revenues from its business  operations
and has incurred  operating  losses since  inception of $7,748,056.  The Company
requires  additional  funding  to meet its  ongoing  obligations  and  operating
losses.  The ability of the Company to continue as a going  concern is dependant
on raising  capital to fund its initial  business plan and  ultimately to attain
profitable operations.  Accordingly, these factors raise substantial doubt as to
the Company's  ability to continue as a going  concern.  The Company  intends to
continue to fund its mineral  exploration  business by way of private placements
and advances from related parties as may be required.

UNAUDITED INTERIM FINANCIAL STATEMENTS
The accompanying  unaudited interim consolidated  financial statements have been
prepared in accordance with generally accepted accounting principals for interim
financial  information  and with the  instructions  to Form 10-QSB of Regulation
S-B. They do not include all information and footnotes required by United States
generally  accepted  accounting  principles for complete  financial  statements.
However,  except as disclosed herein,  there has been no material changes in the
information  disclosed  in the notes to the  financial  statements  for the year
ended May 31, 2006 included in the Company's  Annual Report on Form 10-KSB filed
with the Securities and Exchange  Commission.  The interim  unaudited  financial
statements  should  be read  in  conjunction  with  those  financial  statements
included in the Form  10-KSB.  In the  opinion of  Management,  all  adjustments
considered  necessary  for a fair  presentation,  consisting  solely  of  normal
recurring  adjustments,  have been made.  Operating  results  for the six months
ended November 30, 2006 are not  necessarily  indicative of the results that may
be expected for the year ending May 31, 2007.

COMPARATIVE FIGURES
Certain  comparative  figures have been  reclassified in order to conform to the
current year's financial statement presentation.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
________________________________________________________________________________

BASIS OF PRESENTATION
These financial  statements are presented in United States dollars and have been
prepared in accordance  with  generally  accepted  accounting  principles in the
United States of America.

USE OF ESTIMATES AND ASSUMPTIONS
Preparation of the financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  certain  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 expenses during the period. Accordingly,  actual results
could differ from those estimates.

MINERAL PROPERTY EXPENDITURES
Mineral  property  exploration  and  development  costs are expensed as incurred
until such time as economic reserves are quantified.  The Company has considered
the guidance under EITF 04-2 and has determined that  capitalization  of mineral
property  acquisition  costs  is  inappropriate  at  the  current  stage  of the
Company's mineral property exploration activities. To

                                      F-4

<PAGE>

GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
________________________________________________________________________________

MINERAL PROPERTY EXPENDITURES (CONTINUED)
date, the Company's  mineral  interests  consist mainly of option  agreements on
exploration  stage  properties.  Furthermore,  there  is  uncertainty  as to the
Company's  ability to fund the  exploration  work  necessary to determine if the
properties  have  recoverable  reserves or any future  economic  benefits.  As a
result, acquisition costs to date are considered to be impaired and accordingly,
have been written off as mineral property expenditures.

To date, the Company has not established any proven or probable  reserves on its
mineral property interests.  Estimated future removal and site restoration costs
are provided over the life of proven  reserves on a  units-of-production  basis.
Costs, which include production equipment removal and environmental remediation,
are estimated  each period by management  based on current  regulations,  actual
expenses incurred, and technology and industry standards. Any charge is included
in exploration  expense or the provision for depletion and  depreciation  during
the  period  and  the  actual  restoration   expenditures  are  charged  to  the
accumulated provision amounts as incurred.

ASSET RETIREMENT OBLIGATIONS
The Company has adopted the  provisions  of SFAS No. 143  "Accounting  for Asset
Retirement Obligations," which establishes standards for the initial measurement
and subsequent accounting for obligations  associated with the sale, abandonment
or other disposal of long-lived  tangible  assets arising from the  acquisition,
construction  or  development  and for normal  operations  of such  assets.  The
adoption of this standard has had no effect on the Company's  financial position
or results of operations.  To November 30, 2006 any potential  costs relating to
the ultimate  disposition of the Company's  mineral property  interests have not
yet been determinable.

INCOME TAXES
The Company follows the liability  method of accounting for income taxes.  Under
this method,  deferred 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
balances.  Deferred tax assets and  liabilities  are measured  using  enacted or
substantially  enacted tax rates  expected to apply to the taxable income in the
years in which those  differences  are expected to be recovered or settled.  The
effect  on  deferred  tax  assets  and  liabilities  of a change in tax rates is
recognized  in income in the  period  that  includes  the date of  enactment  or
substantive  enactment.  As at November  30, 2006 the Company had net  operating
loss carry forwards.  However, due to the uncertainty of realization the Company
has provided a full  valuation  allowance for the deferred tax assets  resulting
from these loss carryforwards.

NET 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 dilutive  potential common shares  outstanding  during
the period.  Dilutive  loss per share  excludes all  potential  common shares if
their effect is anti-dilutive.

FOREIGN CURRENCY TRANSLATION
The financial  statements are presented in United States dollars.  In accordance
with SFAS No. 52, "Foreign Currency  Translation",  foreign denominated monetary
assets and liabilities are translated to their United States dollar  equivalents
using foreign exchange rates which prevailed at the balance sheet date.  Revenue
and  expenses are  translated  at average  rates of exchange  during the period.
Related  translation  adjustments  are  reported  as  a  separate  component  of
stockholders'  equity,  whereas gains or losses  resulting from foreign currency
transactions are included in results of operations.

STOCK-BASED COMPENSATION
On March 1, 2006,  the Company  adopted  SFAS No. 123  (revised  2004) (SFAS No.
123R),  SHARE-BASED  PAYMENT,  which  addresses the accounting  for  stock-based
payment  transactions  in which an  enterprise  receives  employee  services  in
exchange for (a) equity  instruments of the enterprise or (b)  liabilities  that
are based on the fair value of the enterprise's  equity  instruments or that may
be settled by the  issuance of such equity  instruments.  In January  2005,  the
Securities and Exchange  Commission (SEC) issued Staff Accounting Bulletin (SAB)
No. 107, which provides supplemental  implementation guidance for SFAS No. 123R.
SFAS No. 123R  eliminates  the ability to account for  stock-based  compensation
transactions using the intrinsic value method under Accounting  Principles Board
(APB) Opinion No. 25, ACCOUNTING FOR STOCK ISSUED TO EMPLOYEES, and instead


                                      F-5

<PAGE>

GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
________________________________________________________________________________

STOCK-BASED COMPENSATION (CONTINUED)
generally   requires   that  such   transactions   be  accounted   for  using  a
fair-value-based  method.  The  Company  uses the  Black-Scholes-Merton  ("BSM")
option-pricing  model to determine the  fair-value of  stock-based  awards under
SFAS No. 123R,  consistent with that used for pro forma  disclosures  under SFAS
No. 123,  ACCOUNTING FOR STOCK-BASED  COMPENSATION.  The Company has elected the
modified  prospective  transition  method  as  permitted  by SFAS  No.  123R and
accordingly  prior  periods have not been restated to reflect the impact of SFAS
No. 123R. The modified  prospective  transition method requires that stock-based
compensation  expense  be  recorded  for  all new and  unvested  stock  options,
restricted  stock,  restricted  stock units,  and employee  stock  purchase plan
shares that are ultimately expected to vest as the requisite service is rendered
beginning on March 1, 2006,  the first day of the  Company's  second  quarter in
fiscal 2007 . Stock-based compensation expense for awards granted prior to March
1, 2006 is based on the grant date fair-value as determined  under the pro forma
provisions of SFAS No. 123.

Prior to the  adoption  of SFAS No.  123R,  the  Company  measured  compensation
expense for its  employee  stock-based  compensation  plans using the  intrinsic
value  method  prescribed  by APB  Opinion  No.  25.  The  Company  applied  the
disclosure provisions of SFAS No. 123 as amended by SFAS No. 148, ACCOUNTING FOR
STOCK-BASED COMPENSATION - TRANSITION AND DISCLOSURE, as if the fair-value-based
method had been applied in measuring compensation expense. Under APB Opinion No.
25, when the exercise price of the Company's employee stock options was equal to
the  market  price  of the  underlying  stock  on the  date  of  the  grant,  no
compensation expense was recognized.

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.

FAIR VALUE OF FINANCIAL INSTRUMENTS
In accordance with the  requirements of SFAS No. 107, the Company has determined
the  estimated  fair  value of  financial  instruments  using  available  market
information and appropriate valuation methodologies. The fair value of financial
instruments  classified  as  current  assets or  liabilities  approximate  their
carrying value due to the short-term maturity of the instruments.

RECENT ACCOUNTING PRONOUNCEMENTS
In February 2006, the FASB issued SFAS No. 155,  "Accounting  for Certain Hybrid
Financial  Instruments-an  amendment  of FASB  Statements  No. 133 and 140",  to
simplify  and  make  more  consistent  the  accounting  for  certain   financial
instruments.  SFAS No. 155  amends  SFAS No.  133,  "Accounting  for  Derivative
Instruments  and Hedging  Activities",  to permit fair value re- measurement for
any hybrid financial instrument with an embedded derivative that otherwise would
require  bifurcation,  provided that the whole  instrument is accounted for on a
fair  value  basis.  SFAS No.  155  amends  SFAS No.  140,  "Accounting  for the
Impairment   or  Disposal  of   Long-Lived   Assets",   to  allow  a  qualifying
special-purpose  entity to hold a derivative  financial instrument that pertains
to a beneficial  interest other than another  derivative  financial  instrument.
SFAS No. 155 applies to all financial  instruments  acquired or issued after the
beginning of an entity's first fiscal year that begins after September 15, 2006,
with  earlier  application  allowed.  This  standard  is not  expected to have a
significant  effect on the  Company's  future  reported  financial  position  or
results of operations.

In March  2006,  the FASB  issued SFAS No. 156,  "Accounting  for  Servicing  of
Financial  Assets,  an  amendment  of FASB  Statement  No. 140,  Accounting  for
Transfers and Servicing of Financial Assets and Extinguishments of Liabilities".
This statement requires all separately recognized servicing assets and servicing
liabilities be initially measured at fair value, if practicable, and permits for
subsequent  measurement using either fair value measurement with changes in fair
value reflected in earnings or the amortization  and impairment  requirements of
Statement No. 140. The subsequent measurement of separately recognized servicing
assets and  servicing  liabilities  at fair value  eliminates  the necessity for
entities  that  manage the risks  inherent  in  servicing  assets and  servicing
liabilities  with  derivatives  to qualify for hedge  accounting  treatment  and
eliminates the

                                      F-6

<PAGE>

GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
________________________________________________________________________________

RECENT ACCOUNTING PRONOUNCEMENTS (CONTINUED)
characterization of declines in fair value as impairments or direct write-downs.
SFAS No. 156 is  effective  for an entity's  first fiscal year  beginning  after
September 15, 2006.  This  adoption of this  statement is not expected to have a
significant  effect on the  Company's  future  reported  financial  position  or
results of operations.

In September 2006, the FASB issued SFAS No. 157, "Fair Value Measurements".  The
objective of SFAS 157 is to increase consistency and comparability in fair value
measurements and to expand disclosures about fair value  measurements.  SFAS 157
defines  fair  value,  establishes  a  framework  for  measuring  fair  value in
generally accepted  accounting  principles,  and expands  disclosures about fair
value measurements.  SFAS 157 applies under other accounting pronouncements that
require or permit  fair value  measurements  and does not  require  any new fair
value measurements.  The provisions of SFAS No. 157 are effective for fair value
measurements  made in fiscal  years  beginning  after  November  15,  2007.  The
adoption of this  statement  is not  expected  to have a material  effect on the
Company's future reported financial position or results of operations.

In September  2006,  the FASB issued SFAS No. 158,  "Employers'  Accounting  for
Defined Benefit Pension and Other Postretirement Plans." This Statement requires
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 Company does not expect that the  implementation  of SFAS No. 158 will
have any material impact on its financial position and results of operations.

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 Company is currently evaluating the impact of adopting SAB No. 108
but does  not  expect  that it will  have a  material  effect  on its  financial
position and results of operations.

NOTE 3 -MINERAL EXPLORATION PROPERTIES
________________________________________________________________________________

(A)  GEORGES LAKE PROPERTY
On  October  20,  2006 the  Company  entered  into a  "Mineral  Property  Option
Agreement",  with War Eagle Mining Company, Inc., a TSX Venture Exchange company
("War Eagle").  pursuant to which War Eagle has granted the Company the sole and
exclusive  option to acquire a 70%  undivided  interest in and to seven  mineral
claims comprising a total of 979 hectares,  which are located in the Province of
Saskatchewan, Canada.

In order to exercise its Option the Company is required to incur, or cause to be
incurred,  on or before  December 31, 2008,  expenditures in connection with the
Property of not less than $1,000,000 pursuant to a work program or work programs
commenced and operated by the operator thereon.  Upon exercise of the Option, if
any, the parties  further  interests in and to the property  will be  determined
through an industry  standard joint venture agreement which will be deemed to be
effective upon the exercise of the Option.

Effective October 20, 2006 a board member of War Eagle has been appointed to the
Board of the Company.

(B)  SAN JUAN PROPERTY  - AGREEMENT PAYABLE
On November 16, 2006 the Company entered into a "Property Option Agreement" with
Petaquilla  Minerals  Ltd  ("Petaquilla").  Petaquilla  therein  has granted the
Company the sole and exclusive option to acquire up to a 70% undivided  interest
in and to five exploration  concessions situated in the Republic of Panama which
are owned and controlled by Petaquilla's wholly-owned subsidiary.

In order to exercise the initial  portion of its Option (the "First  Option") to
acquire an initial 60% undivided  interest in and to the property the Company is
required:  (i) to pay to  Petaquilla  the  aggregate sum of $600,000 in cash, as
noted in 1, 3 and 4 below;

                                      F-7

<PAGE>

GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 3 -MINERAL EXPLORATION PROPERTIES (CONTINUED)
________________________________________________________________________________

(B)  SAN JUAN PROPERTY (CONTINUED)
(ii) issue Petaquilla  4,000,000 common shares from the treasury of the Company;
and (iii) incur, or cause to be incurred, directly or indirectly, and pay for an
aggregate of $6,000,000 in Exploration Expenditures as follows:

         1.    The sum of $100,000 in cash (paid).
         2.    4,000,000 common shares of the Company to be issued and delivered
               to  Petaquilla  within five  business days from the execution and
               delivery of the Option Agreement. On December 1, 2006 the Company
               issued to Petaquilla 4,000,000 common shares from the treasury of
               the  Company,  at which  time  Petaquilla  became  a  significant
               shareholder of the Company. The Company has accrued $7,400,000 as
               an  Agreement  Payable at November  30, 2006 being the  estimated
               fair value of the 4,000,000 shares.
         3.    An additional  $200,000 in cash to be paid by wire transfer,  and
               Exploration  Expenditures  of  not  less  than  $1,000,000  to be
               incurred and paid, both on or before May 31, 2007.
         4.    An additional  $300,000 in cash to be paid by wire transfer,  and
               Exploration  Expenditures  of  not  less  than  $3,000,000  to be
               incurred and paid, both on or before May 31, 2008.
         5.    Cumulative  Exploration  Expenditures of not less than $6,000,000
               to be incurred and paid on or before May 31, 2009. Subject to the
               prior  exercise of the First Option,  and in accordance  with the
               terms and  conditions  of the Option  Agreement,  Petaquilla  has
               therein  also  granted to the  Company  the  exclusive  right and
               further  option (the "Second  Option") to increase the  Company's
               undivided  interest  in and to the  property  from  60% to 70% by
               incurring and paying for an additional  $3,000,000 in Exploration
               Expenditures  during the  period  between  exercise  of the First
               Option and May 31, 2010.
         6.    During  the  currency  of  the  Option  Agreement  Petaquilla  is
               entitled to nominate up to 40% of the total  number of  directors
               of the Company.
         7.    In addition,  and as soon as practicable  following the execution
               and delivery of the Option Agreement, the Company is to establish
               a stock option plan which allocates not less than 15% of the then
               issued  shares in the capital of the Company for the  granting of
               options  and shall grant to  Petaquilla,  or its  nominees  stock
               options equal in number to not less than  one-third of the number
               of options allocated under such plan.

NOTE 4 - STOCKHOLDERS' EQUITY
________________________________________________________________________________

As of the end of the period, the Company's  capitalization was 50,000,000 common
shares  with a par  value of  $0.001  per  share.  Subsequent  to the  period on
December  4,  2006  the  Board  of  Directors  of  the  Company   requested  the
shareholders  of  common  stock  of the  Company  as of the end of  business  on
November 27, 2006 to consent to increase  the  authorized  share  capital of the
Company from 50,000,000  shares of common stock to 200,000,000  shares of common
stock with the same par value of $0.001  per share.  The  Company  received  the
required  consents,  and on January 12, 2007 the Company filed a Certificate  of
Amendment to its Article of  Incorporation,  which  effectuated  the increase in
authorized share capital as of that date.

On May 1, 2006,  a majority of  shareholders  and the  directors  of the Company
approved a special  resolution  to undertake a forward stock split of the common
stock of the Company on a 42 new shares for 1 old share basis whereby 16,400,000
common  shares were issued  pro-rata  to  shareholders  of the Company as of the
record date on May 1, 2006.

On September 27, 2006 four founding  shareholders  returned 7,500,000 (pre - 4:1
Forward  Split)  of their  restricted  founders'  shares,  previously  issued at
$0.0016 - $0.009 (pre - 4:1 Forward Split) per share, to treasury and the shares
were subsequently cancelled by the Company. The shares were returned to treasury
for no  consideration  to the founding  shareholders  in order to make the share
capital of the Company more attractive to potential investors.

On October 13, 2006,  a majority of the Board of Directors  approved by way of a
stock  dividend to  undertake a forward  stock split of the common  stock of the
Company on a 4 new shares for 1 old share basis whereby 27,900,000 common shares
were  issued  pro-rata to  shareholders  of the Company as of the record date on
October 13, 2006

All references in these financial  statements to number of common shares,  price
per share and weighted average number of common shares  outstanding prior to the
42:1 forward split and the 4:1 forward split have been adjusted to reflect these
stock splits on a retroactive basis, unless otherwise noted.

To November  30, 2006 the Company has not granted any stock  options and has not
recorded any stock-based compensation.


                                      F-8

<PAGE>

GENEVA GOLD CORP.
(FORMERLY REVELSTOKE INDUSTRIES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2006 (UNAUDITED)
________________________________________________________________________________

NOTE 5 - RELATED PARTY TRANSACTIONS
________________________________________________________________________________

A company  which is owned by a significant  shareholder  of the Company was owed
$16,799 for consulting and  sub-contracts on land  stabilization  programs which
were  provided in the year ended May 31,  2005.  On November 15, 2006 the amount
was waived by the  shareholder.  The amounts that were  payable were  unsecured,
non-interest bearing and had no set terms of repayment. (Also, refer to Note 3.)

NOTE 6 - SHAREHOLDERS LOAN
________________________________________________________________________________

On  November  14, 2006 a  shareholder  of the  Company  advanced  to  Petaquilla
Minerals Ltd.  $100,000 on behalf of the Company  (Refer to Note 3). This amount
is  unsecured,  accruing  interest  at 10% per  annum,  and has no set  terms of
repayment.  The total  amount  outstanding  as of November  30,  2006  including
accrued interest is $100,438.

NOTE 7 - COMMITMENT
________________________________________________________________________________

On January 27, 2005, the Company entered into an agreement of understanding with
Alantic  Contractors Ltd. (the "Alantic  Agreement"),  pursuant to which Alantic
will provide the Company with  guidance in launching its  operations  within the
United  States,  advise on  operational  matters,  and assist in  promoting  the
Company's business through Alantic's existing  associates.  Alantic is a private
company  engaged  in  the  business  of  site  preparation  and  reclamation  by
reloading.  An officer and director of Alantic is also a significant shareholder
of the Company.

The Company will compensate  Alantic for their goods and services on a cost plus
basis,  which  entails  payment for their costs plus a markup of 5% for overhead
and 10% for  profit  for a total of a 15%  markup.  The  Company  will  also pay
Alantic a flat fee in the amount of $2,500 plus travel  expenses to appraise the
viability of individual prospective projects.


                                      F-9



<PAGE>


         Statements  made in this Form 10-QSB 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,"  "expect,"  "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 judgment 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.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF
         OPERATION

GENERAL

         Geneva  Gold Corp.  is a  corporation  organized  under the laws of the
State of  Nevada  on April  5,  2004  originally  under  the name of  Revelstoke
Industries, Inc. (herein known as "we", "our", "us" or the "Company").

AMENDMENT TO ARTICLES OF INCORPORATION TO INCREASE AUTHORIZED CAPITAL STRUCTURE

         On  January 12,  2007,  we  filed  an  Amendment  to  the  Articles  of
Incorporation (the "Amendment").  In accordance with the Amendment, we increased
our  authorized  capital from  50,000,000  shares of common stock to 200,000,000
shares of common stock with the same par value of $0.001 per share.  On November
27, 2006, our Board of Directors  pursuant to minutes of written consent in lieu
of a special  meeting  authorized  and  approved  the  Amendment to increase our
authorized  capital and the  dissemination of a notice of consent requested from
shareholders  without a special  meeting dated  December 4, 2006 (the "Notice of
Consent")  together  with a  consent/proxy  card (the  "Proxy").  The  Notice of
Consent was distributed to our  shareholders  with a record date of November 27,
2006.  Our Board of Directors  fixed the close of business on January 3, 2007 as
the date by which  written  consents  and  approvals  were to be received by our
shareholders holding a majority of the total issued and outstanding common stock
to approve the Amendment. See "Part II. Item 4.
Submission of Matters to a Vote of Security Holders."

ARTICLES OF MERGER

         On  November  27,  2006,  we filed  Articles  of Merger with the Nevada
Secretary of State (the "Articles of Merger").  In accordance with the terms and
provisions  of the  Articles  of Merger:  (i) we  effectuated  a merger with our
wholly-owned  subsidiary,  Geneva Gold  Corp.,  as a  parent/subsidiary  merger,
whereby we were the surviving  corporation;  (ii) the merger became effective as
of December 1, 2006 pursuant to Section 92A.180 of the Nevada Revised  Statutes;
and (iii) our  Articles  of  Incorporation  were  amended  to change our name to
"Geneva Gold  Corp.".  In  connection  with the change in  corporate  name,  our
trading  symbol  changed.  As of the open of business  on December 1, 2006,  our
trading symbol is GVGC.

                                       2
<PAGE>


         We decided to change our name to Geneva  Gold Corp.  to better  reflect
our additional resource  acquisition and development business resulting from our
recent   acquisition  of  certain   options  to  interests  in  certain  mineral
properties. See " - Current Business Operations" below.

OCTOBER 16, 2006 FORWARD STOCK SPLIT

         On October  13,  2006,  our Board of  Directors  pursuant to minutes of
written consent in lieu of a special  meeting  authorized and approved a forward
stock split of four for one (4:1) of our total issued and outstanding  shares of
common stock (the "October 2006 Forward Stock Split").

         The October 2006 Forward  Stock Split was  effectuated  based on market
conditions and upon a  determination  by our Board of Directors that the October
2006 Forward Stock Split was in our best interests and of the  shareholders.  In
our judgment the October 2006 Forward  Stock Split will result in an increase in
our trading  float of shares of common  stock  available  for sale  resulting in
facilitation of investor  liquidity and trading volume potential.  The intent of
the October 2006 Forward  Stock Split is to increase  the  marketability  of our
common stock.

         The October 2006 Forward Stock Split was effectuated with a record date
of October 13, 2006 upon filing the appropriate  documentation  with NASDAQ. The
October 2006 Forward Stock Split increased our issued and outstanding  shares of
common stock from 9,300,000 to approximately  37,200,000 shares of common stock.
(The  total  number of  shares  of  common  stock  issued  and  outstanding  had
previously  been  16,800,000  since May 1, 2006 pursuant to the May 2006 Forward
Stock Split. However, on September 27, 2006, four of our shareholders  consented
to the  cancellation  and return to treasury of an aggregate of 7,500,000 shares
thus bringing the total number of issued and outstanding  shares of common stock
to  9,3000,000  as of October 13,  2006.) The current  authorized  share capital
continued to be 50,000,000 shares of common stock with a par value of $0.001 per
share.

MAY 1, 2006 FORWARD STOCK SPLIT

         On May 1, 2006,  our Board of Directors  pursuant to minutes of written
consent in lieu of a special  meeting  authorized  and approved a forward  stock
split of forty-two  (42) for one of our total issued and  outstanding  shares of
common stock (the "May 2006 Forward Stock Split").

         The May 2006  Forward  Stock  Split  was  effectuated  based on  market
conditions and upon a determination  by our Board of Directors that the May 2006
Forward Stock Split was in our best  interests and of the  shareholders.  In our
judgment  the May 2006  Forward  Stock  Split will  result in an increase in our
trading  float of  shares  of  common  stock  available  for sale  resulting  in
facilitation of investor  liquidity and trading volume potential.  The intent of
the May 2006 Forward Stock Split is to increase the  marketability of our common
stock.

         The May 2006 Forward Stock Split was effectuated  with a record date of
May 1, 2006 upon filing the appropriate  documentation with NASDAQ. The May 2006
Forward Stock Split increased our issued and outstanding  shares of common stock
from 400,000 to  approximately  16,800,000  shares of common stock.  The current
authorized share capital  continued to be 50,000,000 shares of common stock with
a par value of $0.001 per share.


                                       3
<PAGE>


CURRENT BUSINESS OPERATIONS

         We are  currently  engaged in the business of  exploration  of precious
metals with a focus on the exploration and development of gold deposits in North
American  and  internationally.  As of the date of this  Quarterly  Report,  our
mineral  interests  consist mainly of options  agreements on  exploration  stage
properties as discussed  below.  We have not  established any proven or probable
reserves on our mineral property interests.

GEORGES LAKE PROPERTY

         On  approximately  October 20, 2006, we entered into a mineral property
option  agreement  (the "Georges Lake Option  Agreement")  with War Eagle Mining
Company  ("War  Eagle").  In  accordance  with the terms and  provisions  of the
Georges  Lake  Option  Agreement:  (i) War  Eagle  granted  to us the  sole  and
exclusive  option (the  "Option") to acquire a 70% undivided  interest in and to
seven mineral claims  comprising a total of 979 hectares located in the Province
of Saskatchewan,  Canada;  (ii) in order to exercise the Option, we are required
to incur or cause to be incurred on or before December 31, 2008  expenditures in
connection with the Georges Lake Property of not less than  $1,000,000  pursuant
to a work program to be commenced  and  operated by the  operator  thereon;  and
(iii) upon exercise of the Option,  the further  interests of the parties in and
to the Georges Lake  Property will be  determined  through an industry  standard
joint venture agreement,  which will be deemed to be effective upon the exercise
of the Option.

SAN JUAN PROPERTY

         On  approximately  November 16, 2006, we entered into a property option
agreement  (the "San Juan  Option  Agreement")  with  Petaquilla  Minerals  Ltd.
("Petaquilla").  In  accordance  with the terms and  provisions  of the San Juan
Option  Agreement,  Petaquilla  granted to us the sole and exclusive option (the
"Option") to acquire up to a 70% undivided  interest in and to five  exploration
concessions  situated in the Republic of Panama,  which are owned and controlled
by Petaquilla's wholly-owned Panamanian subsidiary.

         FIRST OPTION

         In order to exercise  the  initial  portion of the Option to acquire an
initial 60% undivided  interest in and to the property (the "First Option"),  we
are required to: (i) pay to  Petaquilla  the aggregate sum of $600,000 (of which
$100,000 was paid on approximately  November 17, 2006); (ii) issue to Petaquilla
4,000,000  shares of our restricted  common stock (which  4,000,000  shares were
issued as of  December  1,  2006.  The  Company  has  accrued  $7,400,000  as an
agreement  payabale at November 30, 2006,  being the estimated fair value of the
4,000,000  shares);  and  (iii)  incur  or  cause  to be  incurred  directly  or
indirectly  and pay for an aggregate of  $6,000,000  in  cumulative  exploration
expenditures  as  follows:  (a) the sum of  $100,000,  which  has  been  paid to
Petaquilla);  (b) issue 4,000,000 shares of restricted common stock,  which have
been issued to Petaquilla;  (c) payment of an additional $200,000 and incurrence
and payment of exploration expenditures of not less than $1,000,000 on or before
May 31, 2007;  (d) payment of an additional  $300,000 and incurrence and payment
of  exploration  expenditures  of not less than  $3,000,000 on or before May 31,
2008; and (e) incurrence and payment of cumulative  exploration  expenditures of
not  less  than  $6,000,000  on or  before  May 31,  2009.  See " -  Results  of
Operation" and "Part II. Item 2. Changes in Securities and Use of Proceeds."


                                       4
<PAGE>

         As of December 1, 2006, we have satisfied our current  obligations with
respect to the exercise of the First Option under the Sun Juan Option  Agreement
to acquire an initial 60% undivided interest in and to the San Juan Property.

         SECOND OPTION

         Subject to the prior  exercise  of the First  Option and in  accordance
with the terms and conditions of the San Juan Option  Agreement,  Petaquilla has
granted to us the exclusive right and further portion of the Option (the "Second
Option") to increase our undivided interest in and to the San Juan Property from
60% to 70% by incurring and paying for  $3,000,000 in  exploration  expenditures
during the period  between the  delivery  of the Notice of Election  and May 31,
2010.  Within sixty (60) days following the exercise of the First Option, we are
required to give Petaquilla notice (the Notice of Election) that either:  (i) we
elect to accept the grant of the Second  Option;  or (ii) we elect not to accept
the Second  Option.  If we make the  election,  then all further work on the San
Juan Property and the subsequent relationship between us and Petaquilla shall be
governed by a joint venture agreement between the parties. If we elect to accept
the grant of the Second  Option but fail to exercise the Second  Option,  we and
Petaquilla shall have initial interests of 60% and 40%,  respectively.  We shall
be deemed to have  exercised the Second Option and thus acquired a 70% undivided
interest in the San Juan Property by having  incurred and paid for $3,000,000 in
exploration expenditures during the period between the delivery of the Notice of
Election and May 31, 2010.  If we fail to incur the  $3,000,000  in  exploration
expenditures  by the end of the last day, we may at any time within fifteen days
of such  day  make a cash  payment  to  Petaquilla  in an  amount  equal  to the
deficiency in the $3,000,000 exploration expenditures to be incurred.

RESULTS OF OPERATION

SIX-MONTH  PERIOD  ENDED  NOVEMBER 30, 2006  COMPARED TO SIX-MONTH  PERIOD ENDED
NOVEMBER 30, 2005

         Our net loss for the  six-month  period  ended  November  30,  2006 was
approximately  ($7,611,302)  compared  to a net  loss of  ($27,593)  during  the
six-month period ended November 30, 2005 (an increase of $7,583,709).

         During the six-month  periods ended  November 30, 2006 and 2005, we did
not generate any revenue.  During the six-month  period ended November 30, 2006,
we incurred  general and  administrative  expenses  in the  aggregate  amount of
$7,611,302  compared to general and administrative  expenses incurred during the
six-month  period ended  November 30, 2005 of $27,593.  Administrative  expenses
incurred during the six-month period ended November 30, 2006 primarily consisted
of: (i) professional  fees of $70,235 (2005:  $18,557);  (ii) office and general
expenses of $15,366  (2005:  $3,699);  (iii) mineral  property  expenditures  of
$7,500,000  (2005:  $-0-);  and (iv) consulting fees of $25,701 (2005:  $5,337).
General and administrative  expenses increased during the six-month period ended
November  30,  2006  due to the  incurrence  of  mineral  property  expenditures
relating  primarily  to the  San  Juan  Option  Agreement  and  the  accrual  of
$7,400,000 as an agreement payable at November 30, 2006 based upon the estimated
fair market value of the 4,000,000  shares of restricted  common stock issued to
Petaquilla and the increase in professional  fees resulting from the increase in
overall business  operations and activity.  General and administrative  expenses
generally include corporate  overhead,  financial and administrative  contracted
services, marketing, and consulting costs.


                                       5
<PAGE>

         As  discussed  above,  the  increase in net loss  during the  six-month
period ended  November 30, 2006 compared to the six-month  period ended November
30,  2005 is  attributable  primarily  to the  increase  in overall  general and
administrative expenses. Our net loss during the six-month period ended November
30, 2006 was  approximately  ($7,611,302) or ($0.20) per share compared to a net
loss of  ($27,593) or ($0.00)  during the  six-month  period ended  November 30,
2005. The weighted  average number of shares  outstanding was 37,200,000 for the
six-month  period  ended  November  30,  2006  compared  to  20,400,000  for the
six-month period ended August 31, 2005.

THREE-MONTH  PERIOD ENDED NOVEMBER 30, 2006 COMPARED TO THREE-MONTH PERIOD ENDED
NOVEMBER 30, 2005

         Our net loss for the  three-month  period  ended  November 30, 2006 was
approximately  ($7,593,436)  compared  to a net  loss of  ($11,149)  during  the
three-month period ended November 30, 2005 (an increase of $7,582,287).

         During the three-month periods ended November 30, 2006 and 2005, we did
not generate any revenue. During the three-month period ended November 30, 2006,
we incurred  general and  administrative  expenses  in the  aggregate  amount of
$7,593,436  compared to general and administrative  expenses incurred during the
three-month period ended November 30, 2005 of $11,149.  Administrative  expenses
incurred  during the  three-month  period  ended  November  30,  2006  primarily
consisted of: (i) professional fees of $52,704 (2005:  $6,018);  (ii) office and
general expenses of $15,031 (2005: $2,846);  (iii) mineral property expenditures
of $7,500,000 (2005: $-0-); and (iv) consulting fees of $25,701 (2005:  $2,285).
General and  administrative  expenses  increased  during the three-month  period
ended  November 30, 2006  primarily due to the  incurrence  of mineral  property
expenditures  relating  to the San Juan  Option  Agreement  and the  accrual  of
$7,400,000 as an agreement payable at November 30, 2006 based upon the estimated
fair market value of the 4,000,000  shares of restricted  common stock issued to
Petaquilla and the increase in professional  fees resulting from the increase in
overall business operations and activity.

         As discussed  above,  the  increase in net loss during the  three-month
period ended November 30, 2006 compared to the three-month period ended November
30,  2005 is  attributable  primarily  to the  increase  in overall  general and
administrative  expenses.  Our net loss  during  the  three-month  period  ended
November 30, 2006 was  approximately  ($7,593,436) or ($0.20) per share compared
to a net loss of  ($11,149)  or ($0.00)  during  the  three-month  period  ended
November  30,  2005.  The  weighted  average  number of shares  outstanding  was
37,200,000  for the  three-month  period  ended  November  30, 2006  compared to
20,400,000 for the three-month period ended August 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

         Our  financial  statements  have been  prepared  assuming  that we will
continue  as a  going  concern  and,  accordingly,  do not  include  adjustments
relating to the  recoverability  and realization of assets and classification of
liabilities  that  might  be  necessary  should  we be  unable  to  continue  in
operation.

SIX-MONTH PERIOD ENDED NOVEMBER 30, 2006

         As of the six-month  period ended November 30, 2006, our current assets
were $18,975 and our current  liabilities were  $7,592,864,  which resulted in a
working capital deficit of $7,573,889. As of the six-month period ended November
30, 2006, our total assets consisted of the $18,975 in cash. As of the six-month
period ended November 30, 2006, our total liabilities  consisted of: (i) $92,426
in  accounts  payable  and  accrued  liabilities;  (ii)  $7,400,000  accrued  as
agreement  payable at  November  30, 2006 based upon the  estimated  fair market
value of the 4,000,000  shares of restricted  common stock issued to Petaquilla;
and (iii) $100,438 in shareholders' loan.


                                       6
<PAGE>


         Stockholders'  equity  (deficit)  decreased from $37,413 at fiscal year
ended May 31, 2006 to ($7,573,889) as at November 30, 2006.

         We have not generated  positive cash flows from  operating  activities.
For the  six-month  period  ended  November  30,  2006,  net cash  flows used in
operating activities was ($154,408) compared to net cash flows used in operating
activities for the six-month  period ended  November 30, 2005 of ($59,776).  Net
cash flows used in operating  activities for the six-month period ended November
30, 2006 consisted primarily of a net loss of ($7,611,302).  Net cash flows used
in  operating  activities  was  adjusted by  $7,400,000  to reflect the non-cash
property costs  associated with the San Juan Option Agreement and the accrual of
$7,400,000 as an agreement payable at November 30, 2006 based upon the estimated
fair market value of the 4,000,000  shares of restricted  common stock issued to
Petaquilla  and by $73,693 to reflect  the  increase  in  accounts  payable  and
accrued liabilities.

         For the  six-month  period  ended  November  30,  2006,  net cash flows
provided  by  financing  activities  was  $100,000  compared  to net cash  flows
provided by financing  activities  for the six-month  period ended  November 30,
2005 of $-0-. Net cash flows provided by financing  activities for the six-month
period ended November 30, 2006 consisted of proceeds from shareholder advance.

PLAN OF OPERATION

         During  fiscal year ended May 31, 2006,  we closed a private  placement
offering  pursuant to which we issued an aggregate of 4,200,000 shares of common
stock (100,000 pre-May 2006 Forward Stock Split shares) at $0.0238 per share for
gross  proceeds of $100,000.  Existing  working  capital,  further  advances and
possible  debt  instruments,  anticipated  warrant  exercises,  further  private
placements,  and  anticipated  cash flow are expected to be adequate to fund our
operations  over the next six  months.  We have no lines of credit or other bank
financing  arrangements.  Generally, we have financed operations to date through
the  proceeds  of the  private  placement  of  equity  and debt  securities.  In
connection with our business plan,  management  anticipates that  administrative
expenses will decrease as a percentage of revenue as our revenue  increases over
the next twelve months.

         Additional  issuances of equity or  convertible  debt  securities  will
result in dilution to our current  shareholders.  Further, such securities might
have rights,  preferences or privileges  senior to our common stock.  Additional
financing may not be available  upon  acceptable  terms,  or at all. If adequate
funds are not available or are not available on acceptable  terms, we may not be
able to take advantage of prospective new business  endeavors or  opportunities,
which could significantly and materially restrict our business operations.

         The report of the independent  registered  public  accounting firm that
accompanies our fiscal year end May 31, 2006 and May 31, 2005 audited  financial
statements contains an explanatory paragraph expressing  substantial doubt about
our ability to continue as a going concern.  The financial  statements have been
prepared "assuming that we will continue as a going concern," which contemplates
that we will realize our assets and satisfy our  liabilities  and commitments in
the ordinary course of business.


                                       7
<PAGE>


MATERIAL COMMITMENTS

         As of the date of this Quarterly Report, we do not have any significant
material  commitments  for fiscal  year  2006/2007  other  than the  contractual
arrangement described below.

SHAREHOLDER LOAN

         On November 14, 2006, one of our shareholders advanced to Petaquilla an
aggregate  of $100,000  on our  behalf.  The  aggregate  amount  loaned to us of
$100,000  is  unsecured  and  accrues  interest  at 10%  per  annum  and  has no
established terms of repayment.  As of the date of this Quarterly Report, we owe
an aggregate of $100,438 in principal and accrued interest.

ALANTIC CONTRACTORS LTD.

         In connection with our prior business  operations of  identification of
parcels of land for the purpose of reclaiming and stabilizing for  construction,
we had entered into an agreement of  understanding  dated  January 27, 2005 (the
"Agreement")  with  Alantic  Contractors  Ltd.  ("Alantic").   Pursuant  to  the
Agreement: (i) Alantic was to provide us with guidance in launching our previous
business operations within the United States,  advise on operational matters and
assist us in promoting our prior business through their existing associates; and
(ii) we were to  compensate  Alantic for their goods and services on a cost plus
basis,  which entailed  payment for their costs plus a markup of 5% for overhead
and 10% for  profit  for a total of a 15% markup and a flat fee in the amount of
$2,500 plus travel expenses to appraise the viability of individual  prospective
projects.

         As of  the  date  of  this  Quarterly  Report,  we  have  entered  into
negotiations with Alantic to terminate the Agreement.

OFF-BALANCE SHEET ARRANGEMENTS

         As of the date of this Quarterly Report, we do not have any off-balance
sheet  arrangements  that have or are  reasonably  likely  to have a current  or
future  effect on our  financial  condition,  changes  in  financial  condition,
revenues or expenses, results of operations,  liquidity, capital expenditures or
capital resources that are material to investors.  The term  "off-balance  sheet
arrangement"  generally means any  transaction,  agreement or other  contractual
arrangement to which an entity unconsolidated with us is a party, under which we
have:  (i) any  obligation  arising  under  a  guaranteed  contract,  derivative
instrument or variable  interest;  or (ii) a retained or contingent  interest in
assets transferred to such entity or similar  arrangement that serves as credit,
liquidity or market risk support for such assets.

ITEM III. CONTROLS AND PROCEDURES

         An  evaluation  was  conducted  under  the  supervision  and  with  the
participation of our management, including our President/Chief Executive Officer
and our  Treasurer/Chief  Financial Officer,  of the effectiveness of the design
and operation of our disclosure controls and procedures as at November 30, 2006.
Based on that  evaluation,  we have concluded  that our disclosure  controls and
procedures were effective as of such date to ensure that information required to


                                       8
<PAGE>

be disclosed in the reports that we file or submit under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized
and reported  within the time periods  specified in Commission  rules and forms.
Such officers also confirm that there was no change in our internal control over
financial reporting during the six-month period ended November 30, 2006 that has
materially affected,  or is reasonably likely to materially affect, our internal
control over financial reporting.

AUDIT COMMITTEE REPORT

         The Board of Directors has established an audit committee.  The members
of the audit  committee are Mr. Marcus  Johnson,  Mr. Steven Jewett and Mr. Alan
Sedgwick.  Two of the three  members of the audit  committee  are  "independent"
within the meaning of Rule 10A-3 under the Exchange Act. The audit committee was
organized on October 20, 2006 and operates  under a written  charter  adopted by
our Board of Directors.

         The audit  committee has reviewed and  discussed  with  management  our
unaudited financial statements as of and for the six-month period ended November
30, 2006. The audit committee has also discussed with Dale Matheson  Carr-Hilton
LaBonte  LLP the matters  required  to be  discussed  by  Statement  on Auditing
Standards  No. 61,  Communication  with Audit  Committees,  as  amended,  by the
Auditing   Standards  Board  of  the  American  Institute  of  Certified  Public
Accountants.   The  audit  committee  has  received  and  reviewed  the  written
disclosures and the letter from Dale Matheson  Carr-Hilton  LaBonte LLP required
by Independence  Standards Board Standard No. 1,  Independence  Discussions with
Audit Committees,  as amended,  and has discussed with Dale Matheson Carr-Hilton
LaBonte LLP their independence.

         Based on the  reviews  and  discussions  referred  to above,  the audit
committee has recommended to the Board of Directors that the unaudited financial
statements  referred to above be included in our Quarterly Report on Form 10-QSB
for the six-month  period ended  November 30, 2006 filed with the Securities and
Exchange Commission.

PART II. OTHER INFORMATION

ITEM 1.  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 Quarterly  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 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

PETAQUILLA MINERALIS LTD.

         On December 1, 2006, we issued an aggregate of 4,000,000  shares of our
restricted  common stock in accordance  with the terms and provisions of the San
Juan Option  Agreement.  The shares were issued  pursuant to an  exemption  from
registration  under  Section  4(2)  and  Rule  903 of  Regulation  S of the 1933
Securities Act.


                                       9
<PAGE>


CANCELLATION OF SHARE CERTIFICATES

         On approximately  September 27, 2006, four of our founding shareholders
returned an  aggregate of 7,500,000  shares of  restricted  common stock held of
record to treasury.  Pursuant to board of director written consent and approval,
we subsequently  cancelled the 7,500,000 shares of restricted  common stock. The
7,500,000  shares of common stock were returned to treasury for no consideration
to the four  shareholders  in order to make our share capital more attractive to
potential investors.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         No report required.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         On November  27, 2006,  our Board of  Directors  pursuant to minutes of
written  consent  in  lieu of a  special  meeting  authorized  and  approved  an
amendment to the Articles of  Incorporation  (the  "Amendment")  to increase our
authorized  capital from 50,000,000 shares of common stock to 200,000,000 shares
of  common  stock  with  the  same  par  value  of  $0.001  per  share  and  the
dissemination  of a notice of  consent  requested  from  shareholders  without a
special meeting dated December 4, 2006 (the "Notice of Consent") together with a
consent/proxy  card (the  "Proxy").  Our Board of  Directors  fixed the close of
business on January 3, 2007 as the date by which the Proxy was to be received by
us.

         Only  shareholders  of record at the close of business on November  27,
2006 (the "Record  Date") were  entitled to receipt of the Notice of Consent and
to vote the shares of common stock held by them on such date in the Proxy. As of
the Record Date, an aggregate  37,200,000 shares of common stock were issued and
outstanding.  There was no other class of voting securities  outstanding at that
date. Each share of common stock held by a shareholder entitled such shareholder
to one vote  pursuant  to the  Proxy.  The  receipt  of  Proxies  evidencing  an
affirmative  vote of the  holders of a  majority  of the  outstanding  shares of
common stock was required to approve the Amendment.

         Approval that the Articles of  Incorporation be amended to increase the
authorized  capital of the Company  from  50,000,000  shares of common  stock to
200,000,000 shares of common stock with the same par value of $0.001 per share.

             For                         21,946,655
             Against                              0
             Abstain                     15,253,345

ITEM 5.  OTHER INFORMATION

APPOINTMENT OF DIRECTOR

         Effective  on October 20,  2006,  our Board of  Directors  accepted the
consent to act as a director  from Terence F. Schorn.  The  following is a brief
account of the education  and business  experience of Mr. Schorn during at least
the past five years,  indicating his principal occupation during the period, and
the name and principal business of the organization by which he was employed.


                                       10
<PAGE>


BIOGRAPHY

         Since January 2001, Mr. Schorn has been the president and a director of
War Eagle Mining  Company,  Inc.,  an  exploration  stage mining  company  which
conducts  exploration  activity in Mexico and whose shares are presently  listed
for trading on the TSX Venture  Exchange in Canada.  Since  February  2006,  Mr.
Schorn  has also been a director  of  Twenty-Seven  Capital  Corp,  another  TSX
Venture  Exchange  listed  company.  Mr.  Schorn is also a  director  of Snowden
Resources Corp., a reporting company listing for trading on the Over-the-Counter
Bulletin Board.

         Mr.  Schorn is a graduate of the  Haileybury  School of Mines,  holds a
diploma in Gemology,  and has over 45 years experience in the mineral  industry.
Mr. Schorn is also a Professional  Geoscientists registered with The Association
of Professional  Engineers and Geoscientists of British Columbia,  as well as an
Accredited Gemologist.

ITEM 5.  OTHER INFORMATION

         No report required.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         Exhibits:

         2.01  Amendment to Articles of Incorporation  dated January 12, 2007 as
               filed with the Secretary of State of the State of Nevada.

         10.01 Property Option Agreement as fully executed on November 16, 2006
               between Revelstoke Industries, Inc. and Petaquilla Minerals Ltd.
               (1)

         31.1  Certification of Chief Executive  Officer  pursuant to Securities
               Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

         31.2  Certification  of Chief Financial Officer  pursuant to Securities
               Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

         32.1  Certifications  pursuant to Securities  Exchange Act of 1934 Rule
               13a- 14(b) or 15d-14(b)  and 18 U.S.C.  Section  1350, as adopted
               pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

         (1)   Incorporated  by  reference  to  Exhibit   10.01  of   Revelstoke
               Industries,   Inc.  Current Report  on  Form  8-K filed  with the
               Securities and Exchange Commission on November 16, 2006 (SEC File
               No. 0-32593).


SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                             GENEVA GOLD CORP.

Dated: January 12, 2007                      By: /s/ MARCUS JOHNSON
                                             ___________________________________
                                             Marcus Johnson, Chief Executive
                                             Officer/President


Dated: January 12, 2007                      By: /s/ D. BRUCE HORTON
                                             ___________________________________
                                             D. Bruce Horton, Chief Financial
                                             Officer/Treasurer


                                       11