| (x) | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 |
|-----|------------------------------------------------------------------------------|

|   |                                       |
|--------|--------------------------------------------|
|   | For the fiscal year ended October 31, 2010 |

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

|   |                                                                                                      |
|--------|-----------------------------------------------------------------------------------------------------------|
|   | For the transaction period from            to |
|   |                                                                                                      |
|   | Commission File Number 333-140170                                                                         |

| MACKENZIE TAYLOR MINERALS INC.                     |
|----------------------------------------------------|
| (Exact name of Registrant as specified in charter) |

| Nevada                                                                                                                   | 98-0505186                 |
|--------------------------------------------------------------------------------------------------------------------------|----------------------------|
|           State or other jurisdiction of incorporation or organization | (I.R.S. Employee I.D. No.) |

|        Suite 904 – 228 – 26th Street, S.W., Calgary, Alberta, Canada | T2S 3C6    |
|---------------------------------------------------------------------------------------------------------------------|------------|
|           (Address of principal executive offices)                | (Zip Code) |

|           Registrants’s telephone number, including area code                                                                                                1-250-754-1811 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Securities registered pursuant to section 12 (b) of the Act: |
|--------|--------------------------------------------------------------|

|           Title of each share          None                       | Name of each exchange on which registeredNone                                 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Securities registered pursuant to Section 12 (g) of the Act: |
|--------|--------------------------------------------------------------|

|   | None |
|--------|------|

|   | (Title of Class) |
|--------|------------------|

----

----

| PART 1     |                                                                                                               | Page   |
|------------|--------------------------------------------------------------------------------------------------------------------|--------|
|       |                                                                                                               |   |
| ITEM 1.    | Business.                                                                                                          | 4      |
|       |                                                                                                               |   |
| ITEM 1A.   | Risk Factors.                                                                                                      | 5      |
|       |                                                                                                               |   |
| ITEM 1B.   | Unresolved Staff Comments.                                                                                         | 7      |
|       |                                                                                                               |   |
| ITEM 2.    | Properties.                                                                                                        | 7      |
|       |                                                                                                               |   |
| ITEM 3.    | Legal Proceedings.                                                                                                 | 10     |
|       |                                                                                                               |   |
| ITEM 4.    | Submission of Matters to Vote of Securities Holders                                                                | 10     |
|       |                                                                                                               |   |
| PART II    |                                                                                                               |   |
|       |                                                                                                               |   |
| ITEM 5.    | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchase of Equity Securities. | 10     |
|       |                                                                                                               |   |
| ITEM 6     | Selected Financial Information.                                                                                    | 10     |
|       |                                                                                                               |   |
| ITEM 7.    | Management’s Discussion and Analysis of Financial Conditions and Results of Operations.                      | 11     |
|       |                                                                                                               |   |
| ITEM 7A.   | Quantitative and Qualitative Disclosure about Market Risk.                                                         | 14     |
|       |                                                                                                               |   |
| ITEM 8.    | Financial Statement and Supplementary Data.                                                                        | 15     |
|       |                                                                                                               |   |
| ITEM 9.    | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.                              | 15     |
|       |                                                                                                               |   |
| ITEM 9A    | Controls and Procedures.                                                                                           | 15     |
|       |                                                                                                               |   |
| ITEM 9A(T) | Controls and Procedures                                                                                            | 16     |
|       |                                                                                                               |   |
| ITEM 9B    | Other information                                                                                                  | 16     |
|       |                                                                                                               |   |
| PART III   |                                                                                                               |   |
|       |                                                                                                               |   |
| ITEM 10.   | Directors, Executive Officers and Corporate Governance.                                                            | 17     |
|       |                                                                                                               |   |
| ITEM 11.   | Executive Compensation.                                                                                            | 19     |
|       |                                                                                                               |   |
| ITEM 12.   | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.                    | 20     |
|       |                                                                                                               |   |
| ITEM 13.   | Certain Relationships and Related Transactions, and Director Independence.                                         | 21     |
|       |                                                                                                               |   |
| ITEM 14    | Principal Accounting Fees and Services.                                                                            | 22     |
|       |                                                                                                               |   |
| PART IV    |                                                                                                               |   |
|       |                                                                                                               |   |
| ITEM 15.   | Exhibits, Financial Statement Schedules                                                                            | 22     |
|       |                                                                                                               |   |
|       | SIGNATURES                                                                                                         | 24     |

----

|   | ITEM 1.  BUSINESS |
|--------|-----------------------------|

----

----

----

| Tenure525990 | Claim NameGold Charm Two | Date of RecordingJan. 21, 2006 | Date of ExpirationDecember 2, 2011 |
|--------------|--------------------------|--------------------------------|------------------------------------|

----

----

| 1. |   | Health and Safety    |
|----|--------|----------------------|
| 2. |   | Archaeological Sites |
| 3. |   | Exploration Access   |

----

| ITEM 3. | LEGAL PROCEEDINGS |
|---------|-------------------|

| ITEM 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS |
|---------|-------------------------------------------------------|

|   | PART II |
|--------|---------|

| ITEM 5. | MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES |
|---------|------------------------------------------------------------------------------------------------------------|

|                                          |  For the year endedOctober 31, 2010                       | January 23, 2006(date of incorporation) toOctober 31, 2010                 |
|-----------------------------------------------|----------------------------------------------------------------|----------------------------------------------------------------------------|
|                                          |                                                           |                                                                       |
| Revenue                                       | $          - | $            - |
| Impairment loss on mineral claim              | -                                                              | 5,000                                                                      |
| Exploration expenses                          | 1,542                                                          | 15,224                                                                     |
| General and Administration                    | 21,880                                                         | 181,794                                                                    |
| Net loss                                      | 23,422                                                         | 202,018                                                                    |
|                                          |                                                           |                                                                       |
| Weighted average shares outstanding (basic)   | 113,310,000                                                    |                                                                       |
| Weighted average shares outstanding (diluted) | 113,310,000                                                    |                                                                       |
| Net loss per share (basic)                    | $ (0.00)                                                       |                                                                       |
| Net loss per share (diluted)                  | $ (0.00)                                                       |                                                                       |

----

| Cash                                 | $       874     |   |
|--------------------------------------|------------------------------------------------------------------------|--------|
| Total assets                         |       874                                |   |
| Total liabilities                    | 153,842                                                                |   |
| Total Stockholders’ deficiency | (152,968)                                                              |   |

|   | ITEM 7.      MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Expenditure                                                                |   | Amount                                                                                                               |
|----------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|
|                                                                       |   |                                                                                                                 |
| Accounting and audit                                                       | i      |          $     5,450                           |
| Bank charges                                                               |   |                    82 |
| Edgar filings                                                              | ii     |                 450                  |
| Exploration                                                                | iii    | 1,542                                                                                                                |
| Management fees                                                            | iv     |                 9,000                |
| Office                                                                     | v      |                 3,073                |
| Rent                                                                       | vi     |                 2,700                |
| Transfer agent's fees                                                      | vii    |                 1,125                |
|           Total expenses |   |         $   23,422                                                 |

| i.   | Mackenzie spent $3,750 for internal accounting services to prepare working papers for submission to the independent accountants.  The fees paid to the independent accountants were $1,700 for the reviews of the quarterly financial statements. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii | Mackenzie has incurred certain edgarzing expenses during the year for filing its various Forms 10-Q and 10-K with the SEC. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------|

|   | iii. | Exploration expense related to maintaining the Gold Charms Two in good standing until December 2, 2011. |
|--------|------|---------------------------------------------------------------------------------------------------------|

|   | iv. | Mackenzie pays its Secretary Treasurer $1,000 for services rendered to it by her for the first three months of the current fiscal year.   Due to a cash shortage she declined to take further payments for her services but the Company accrued $6,000 in recognition of management fees expense which was credited to Capital in Excess of Par Value.  For the last three months of the current fiscal period the Company discontinued the practice of accruing management fees. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | v. | Office expenses of $3,073 were mainly courier, faxing, printing, photocopying and various office supplies. |
|--------|----|------------------------------------------------------------------------------------------------------------|

|   | vi. | Mackenzie does not have its own office premises but used the residence of its Secretary Treasurer at a cost of $300 per month for the first three months of the current fiscal year.   For the next six months, similar to management fees, the Company accrued rent expense and credited Capital in Excess of Par Value.   This practice was discontinued during the last three months of the current fiscal year. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | vii. | During the year, Mackenzie paid the following expenses to its transfer agent: |
|--------|------|-------------------------------------------------------------------------------|

| Annual fee for acting as transfer agent                                            | $     500.00 |
|------------------------------------------------------------------------------------|---------------------------------------|
| Annual List of Directors and Officers and Business License for the State of Nevada |  575.00                          |
| Audit fee confirmation                                                             |   50.00                     |
|                                                                               | $  1,125.00                 |

----

|  Expenditures                                           |   | Requirements ForTwelve Months                                               | Current AccountsPayable                                                         | Required Funds forTwelve  Months                      |
|--------------------------------------------------------------|--------|-----------------------------------------------------------------------------|---------------------------------------------------------------------------------|-----------------------------------------------------------------|
|                                                         |   |                                                                        |                                                                            |                                                            |
| Accounting and audit                                         | 1      |     $   11,000                           | $  23,875                                                             |  $  34,875                                       |
| Bank charges                                                 |   |             120 |              - |           120 |
| Edgar filing fees                                            | 2      |          1,600                 |       -                                           |        1,600                 |
| Filing fees                                                  | 3      |            575       |            -             |         575             |
| Office and miscellaneous                                     | 4      |          1,000                 |      3,024                                             |        4,024                 |
| Transfer agent's fees                                        | 5      |           2,000           |          -                         |      2,000                             |
|        Estimated expenses |   |    $   16,295                                 | $ 26,899                                                                        | $   43,194                                       |

| Filings                         | Accountant                                                                                                  | Auditors                                                                                            | Total                                                                               |
|---------------------------------|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|
|                            |                                                                                                        |                                                                                                |                                                                                |
| Form 10-Q – Jan. 31, 2011 |       $     1,250                                    |    $            800      |   $          2,050      |
| Form 10-Q - April 30, 2011      |                  1,250 |                 800 |              2,050 |
| Form 10-Q – July 31, 2011 |                  1,250 |                 800 |              2,050 |
| Form 10-K – Oct. 31, 2011 |               1,550                        |              3,300                 |              4,850 |
|                            |                                                                                                        |                                                                                                |                                                                                |
|                            |      $    5,300                                                     |   $         5,700                                 |   $        11,000                      |

|   |       2.     Edgar filing fees comprise the cost of filing the various Forms 10-K and 10-Q                on Edgar.  It is estimated the cost for each of the Form 10-Qs will be $350 and the cost of filing the 10-K will be $550 which includes the cost of updating to XBRL filings. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   |      3.        Filing fees for the State of Nevada is estimated at $575 per year based on the current year’s charges.  This amount includes the annual Business License. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |      4.       Relates to photocopying, courier, faxing, printing and general office supplies. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |      5.      Each year Mackenzie is charged a fee of $500 by its transfer agent to act on its behalf and estimates a further fee of $1,500 for various other services to be performed by the transfer agent during the forthcoming year. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ITEM 7A.       QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET   RISK |
|--------|------------------------------------------------------------------------------------------------------------------------------|

----

| ● | our variations in our operations results, either quarterly or annually;                                           |
|---------|-------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                              |
| ● | trading patterns and share prices in other exploration companies which our shareholders consider similar to ours; |
|    |                                                                                                              |
| ● | the exploration results on the new mineral property to be acquired, and                                           |
|    |                                                                                                              |
| ● | other events which we have no control over.                                                                       |

|   | ITEM 9.   CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE |
|--------|--------------------------------------------------------------------------------------------------------------|

----

| ● | designed to ensure disclosure of information that is required to be disclosed in the reports that Mackenzie files or submits under the Exchange Act; |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | recorded, processed, summarized and reported with the time period required by the SEC’s rules and forms; and |
|---------|--------------------------------------------------------------------------------------------------------------------|

| ● | accumulated and communicated to management to allow them to make timely decisions about the required disclosures. |
|---------|-------------------------------------------------------------------------------------------------------------------|

|  ● | As at October 31, 2010, Mackenzie did not have an audit committee which complies to the requirements of an audit committee since it did not have an independent “financial expert” on the committee.  Even though it has a Code of Ethics it does not emphasize fraud and methods to avoid it.   Due to the small size of Mackenzie a whistleblower policy is not necessary. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Due to a significant number and magnitude of out-of-period adjustments identified during the year-end closing process, management has concluded that the controls over the period-end financial reporting process were not operating effectively.   A material weakness in the period-end financial reporting process could result in Mackenzie not been able to meet its regulatory filing deadlines and, if not remedied, has the potential to cause a material misstatement or to miss a filing deadline in the future.   Management override of existing controls is possible given the small size of the organization and lack of personnel. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | There is no system in place to review and monitor internal control over financial reporting.  This is due to Mackenzie maintaining an insufficient complement of personal to carry out ongoing monitoring responsibilities and ensure effective internal control over financial reporting. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 9A(T) | CONTROLS AND PROCEDURES |
|------------|-------------------------|

----

| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE |
|----------|--------------------------------------------------------|

| Name                               | Age    | Position Held                | Term as Director Since |
|------------------------------------|--------|------------------------------|------------------------|
|                               |   |                         |                   |
|  Terry Stimpson               | 60     |  President and Director | 2006                   |
|                               |   |                         |                   |
|   Kendall O’ Leary | 48     |  Secretary Treasurer    | 2006                   |

----

| (1) | filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by the court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filings; |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting, the following activities: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliate person, director or employee of any investment company, or engaging in or continuing any conduct or practice in connection with such activity; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | engaging in any activities in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | was the subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activities; |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | was found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law, and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended, or vacated. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)   | was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (a)                                                                                                     | (b)                  | (c)                          | (e)                   | (f)                        | (g)             | (h)              | (i)                       |
|---------------------------------------------------------------------------------------------------------|----------------------|------------------------------|-----------------------|----------------------------|-----------------|------------------|---------------------------|
|                                                                                                    |                 |                         |                  |                       |            |             |                      |
| Name and Principal position                                                                             | Year                 | Salary                       | Other annualComp. ($) | Restricted stockawards ($) | Options/SAR (#) | LTIP payouts ($) | All othercompensation ($) |
|                                                                                                    |                 |                         |                  |                       |            |             |                      |
| Terry StimpsonChief ExecutiveOfficer, Presidentand Director                                             | 20062007200820092010 | 2,00024,00012,941-0--0-      | -0--0--0--0--0-       | -0--0--0--0--0-            | -0--0--0--0--0- | -0--0--0--0--0-  | -0--0--0--0--0-           |
|                                                                                                    |                 |                         |                  |                       |            |             |                      |
| Kendall O’LearyChief Financial Officer,Chief Accounting Officer, Secretary Treasurer and Director | 20062007200820092010 | 1,00012,00012,00012,0003,000 | -0--0--0--0--0-       | -0--0--0--0--0-            | -0--0--0--0--0- | -0--0--0--0--0-  | -0--0--0--0--0-           |

----

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. |
|----------|-------------------------------------------------------------------------------------------------|

|  Title of Class |  Name and Address of Beneficial Owner[1]                                        |  Amount and Nature of Beneficial Ownership | Percent of Class on the Date of thisForm 10-K |
|----------------------|--------------------------------------------------------------------------------------|-------------------------------------------------|-----------------------------------------------|
|                 |                                                                                 |                                            |                                          |
| Common               | Terry Stimpson5651 Quentin StreetCalgary, Alberta, Canada T2T 6J1                    | 60,000,000                                      | 52.9%                                         |
|                 |                                                                                 |                                            |                                          |
| Common               | Kendall O’Leary228  26th Avenue S.W.Calgary, Alberta, Canada T2S 3C6 | 30,000,000                                      | 26.5%                                         |
|                 |                                                                                 |                                            |                                          |
| Common               | Directors and Officers as a Group                                                    | 90,000,000                                      | 79.4%                                         |

----

|   | ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
|--------|-----------------------------------------------------------------------------------------------|

----

| 1.1 | Certificate of Incorporation (incorporated by reference from Mackenzie’s Registration Statement on Form 10-SB filed on January 24, 2007) |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2 | Articles of Incorporation (incorporated by reference from Mackenzie’s Registration Statement on Form 10-SB filed on January 24, 2007) |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

| 1.3 | By-laws (incorporated by reference from Mackenzie’s Registration Statement on Form 10-SB filed on January 24, 2007) |
|-----|---------------------------------------------------------------------------------------------------------------------------|

----

| Title of Document                                                                                                                                      | Page     |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                                                                                                                                                   |     |
| Report of Madsen & Associates, CPA’s Inc.                                                                                                    | 25       |
|                                                                                                                                                   |     |
| Balance Sheet as at October 31, 2010 and 2009                                                                                                          | 26       |
|                                                                                                                                                   |     |
| Statement of Operations for the years ended October 31, 2010 and 2009 and for the period from January 23, 2006 (Date of Inception) to October 31, 2010 |  27 |
|                                                                                                                                                   |     |
| Statement of Stockholders’ Equity for the period from January 23, 2006 (Date of Inception) to October 31, 2010                                   |  28 |
|                                                                                                                                                   |     |
| Statement of Cash Flows for the years ended October 31, 2010 and 2009 and for the period from January 23, 2006 (Date of Inception) to October 31, 2010 |  29 |
|                                                                                                                                                   |     |
| Notes to the Financial Statements                                                                                                                      | 30       |

----

|   | By:   KENDALL O’LEARY |
|--------|--------------------------------------------|

|   | Kendall O’Leary |
|--------|-----------------------|

|   | Chief Accounting Officer, |
|--------|---------------------------|

|   | Chief Financial Officer and Director |
|--------|--------------------------------------|

----

| MADSEN & ASSOCIATES CPA’s, INC. | 684 East Vine Street, #3 |
|-------------------------------------------|--------------------------|
|                                      | Murray, Utah, 84107      |
|                                      | Telephone: 801-268-2632  |
|                                      | Fax: 801-262-3978        |

----

|   | Balance Sheets |
|--------|----------------|

|                                                                                                                                                                                                                                                       | October 31,  2010                               | October 31, 2009                     |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------|--------------------------------------|
| ASSETS                                                                                                                                                                                                                                                     |                                                 |                                 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| CURRENT ASSETS                                                                                                                                                                                                                                             |                                                 |                                 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| Cash                                                                                                                                                                                                                                                       | $       874       | $     5,082 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| Total Current Assets                                                                                                                                                                                                                                       | $       874       | $  5,082                   |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIENCY                                                                                                                                                                                                             |                                                 |                                 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| CURRENT LIABILITIES                                                                                                                                                                                                                                        |                                                 |                                 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| Accounts payable                                                                                                                                                                                                                                           | $   26,899                            | $  25,199                  |
| Advances from related parties                                                                                                                                                                                                                              | 126,943                                              | 116,629                              |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| Total Current Liabilities                                                                                                                                                                                                                                  | 153,842                                              | 141,828                              |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| STOCKHOLDERS’ DEFICIENCY                                                                                                                                                                                                                             |                                                 |                                 |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| 500,000,000 common shares authorized, at $0.001 par value113,310,000 shares issued and outstanding                                                                                                                                                         |  113,310                                        |  113,310                        |
| Capital in excess of par value                                                                                                                                                                                                                             | (64,260)                                             | (71,460)                             |
| Deficit accumulated during the pre-exploration stage                                                                                                                                                                                                       | (202,018)                                            | (178,596)                            |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
| Total Stockholders’ Deficiency                                                                                                                                                                                                                       | (152,968)                                            | (136,746)                            |
|                                                                                                                                                                                                                                                       |                                                 |                                 |
|                                  Total Liabilities and Stockholders’ Deficiency | $        874 | $   5,082             |

----

|   | Statement of Operations |
|--------|-------------------------|

|                                |  October 31, 2010                                                           |  October 31, 2009                                                                 | January 23, 2006 (date of inception)to October 31, 2010                                                  |
|-------------------------------------|----------------------------------------------------------------------------------|----------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|
|                                |                                                                             |                                                                                   |                                                                                                     |
| REVENUES                            | $             - | $              - |  $                - |
|                                |                                                                             |                                                                                   |                                                                                                     |
| EXPENSES                            |                                                                             |                                                                                   |                                                                                                     |
|                                |                                                                             |                                                                                   |                                                                                                     |
| Impairment loss on mineral claim    | -                                                                                | -                                                                                      | 3,182                                                                                                    |
| Exploration costs                   | 1,542                                                                            | -                                                                                      | 17,042                                                                                                   |
| General and administrative          | 21,880                                                                           | 29,105                                                                                 | 181,794                                                                                                  |
|                                |                                                                             |                                                                                   |                                                                                                     |
| NET LOSS                            | $ (23,422)                                                                       | $   (29,105)                                                            | $  (202,018)                                                                                   |
|                                |                                                                             |                                                                                   |                                                                                                     |
| NET LOSS PER COMMON SHARE           |                                                                             |                                                                                   |                                                                                                     |
|                                |                                                                             |                                                                                   |                                                                                                     |
| Basic and diluted                   | $ (0.00)                                                                         | $  (0.00)                                                                    |                                                                                                     |
|                                |                                                                             |                                                                                   |                                                                                                     |
| WEIGHTED AVERAGE OUTSTANDING SHARES |                                                                             |                                                                                   |                                                                                                     |
|                                |                                                                             |                                                                                   |                                                                                                     |
| Basic and diluted                   | 113,310,000                                                                      | 113,310,000                                                                            |                                                                                                     |

----

|                                                                                            |        CommonShares                                                                                            |  StockAmount                                                                                                               | Capital inExcess ofPar Value                                                                                  |  Accumulated    Deficit                                                                                                  |   Total                            |
|-------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------|
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Balance January 23, 2006                                                                        |                       -             |    $             -                              |   $             -                  |   $                -                                    | $       - |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Issuance of common shares for cash                                                              |       90,000,000                                                                                                    |           90,000                                                              |       (87,000)                                                                  |                    -                               | 3,000                                        |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Net operating loss for the nine  months    Ended October 31, 2006 |                         - |                     -       |                   - |              (16,608)                                                            |  (16,608)                               |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Issuance of common shares for cash                                                              |       23,310,000                                                                                                    |           23,310                                                              |         15,540                                                        |                     -                         | 38,850                                       |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Net operating loss for the year ended    October 31, 2007                   |                       -             |                     -       |                   - |              (84,407)                                                            |  (84,407)                               |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Net operating loss for the year ended    October 31, 2008                   |                       -             |                     -       |                   - |              (48,476)                                                            |  (48,476)                               |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Net operating loss for the year ended    October 31, 2009                   |                       -             |                      - |                   - |              (29,105)                                                            |  (29,105)                               |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Net loss for the year ended    October 31, 2010                             |                       -             |                      - |                   - |              (23,422)                                                            |  (23,422)                               |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Capital contributions – expenses                                                          |                      -                   |                     -       |           7,200                                             |                         - | 7,200                                        |
|                                                                                            |                                                                                                                                              |                                                                                                                            |                                                                                                          |                                                                                                                                              |                                         |
| Balance as at October 21, 2010                                                                  |    113,310,000                                                                                                                     |     $   113,310                                                                              |    $  (64,260)                                                                       |     $    (202,018)                                                                                        | $(152,968)                                   |

----

|                                                                          |   October 31, 2010                                                                                  |   October 31, 2009                                                                                                                | January 23, 2006(date of inception)to October 31, 2010        |
|-------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                         |                                                                                                          |                                                                                                                                        |                                                          |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Net loss                                                                      | $   (23,422)                                                                                   | $  (29,105)                                                                                                                       |   $ (202,018)                                       |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Adjustments to reconcile Net Loss to Net Cash (Used) in Operating Activities: |                                                                                                          |                                                                                                                                        |                                                          |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Impairment loss on mineral claim                                              | -                                                                                                             | -                                                                                                                                           | 3,182                                                         |
| Capital contributions – expenses paid by Officers                       | 7,200                                                                                                         | -                                                                                                                                           | 7,200                                                         |
| Changes in accounts payable                                                   | 1,700                                                                                                         | 7,182                                                                                                                                       | 26,899                                                        |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Net Cash (Used) in Operating Activities                                       | (14,522)                                                                                                      | (21,923)                                                                                                                                    | (164,737)                                                     |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                         |                                                                                                          |                                                                                                                                        |                                                          |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Acquisition of mineral claim                                                  |            -                                           |           -                                                                               | (3,182)                                                       |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Net Cash (Used) in Investing Activities                                       |                   - |           -                                                                               | (3,182)                                                       |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| CASH FLOWS FROM FINANCING ACTIVITIES                                          |                                                                                                          |                                                                                                                                        |                                                          |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Advances from related parties                                                 | 10,314                                                                                                        | 23,749                                                                                                                                      | 126,943                                                       |
| Proceeds from issuance of common stock                                        |           -                                                 |                        - |  41,850                                                  |
|                                                                          | 10,314                                                                                                        | 23,749                                                                                                                                      | 168,793                                                       |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Net Increase (Decrease) in Cash                                               | (4,208)                                                                                                       | 1,826                                                                                                                                       | 874                                                           |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| Cash at Beginning of Year                                                     |   5,082                                                                                             | 3,256                                                                                                                                       |           - |
|                                                                          |                                                                                                          |                                                                                                                                        |                                                          |
| CASH AT END OF YEAR                                                           | $         874                                                    | $     5,082                                                                                                        | $     874                            |

| SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES |                                  |                                                                                   |                                 |
|---------------------------------------------------------|---------------------------------------|----------------------------------------------------------------------------------------|--------------------------------------|
|                                                    |                                  |                                                                                   |                                 |
| Capital contributions – expenses paid by Officers | $      7,200 | $              - | $     7,200 |

----

|   | Basic and Diluted Net Income (loss) Per Share |
|--------|-----------------------------------------------|

|   | Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding.   Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes antidulutive and then the basic and diluted per share amounts are the same. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Year Ending | Estimated NOL Carry-Forward | NOL Expires | Estimated Tax Benefit from NOL | Valuation Allowance        | Net Tax Benefit                                                                  |
|-------------|-----------------------------|-------------|--------------------------------|----------------------------|----------------------------------------------------------------------------------|
|        |                        |        |                           |                       |                                                                             |
| 2006        | $   16,608   | 2026        | $   4,982       | $   (4,982) |    $          - |
|        |                        |        |                           |                       |                                                                             |
| 2007        | 84,407                      | 2027        | 25,322                         | (25,322)                   | -                                                                                |
|        |                        |        |                           |                       |                                                                             |
| 2008        | 48,476                      | 2028        | 14,543                         | (14,543)                   | -                                                                                |
|        |                        |        |                           |                       |                                                                             |
| 2009        | 29,105                      | 2029        | 8,732                          | (8,732)                    | -                                                                                |
|        |                        |        |                           |                       |                                                                             |
| 2010        |   23,422          | 2030        |  7,026                    |  (7,026)              |          -                          |
|        |                        |        |                           |                       |                                                                             |
|        | $  202,018        |        | $ 60,605                       | $  (60,605)      | $          -                        |

| (i)   | Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date; |
|-----------------|----------------------------------------------------------------------------------------------|

| (ii)   | Non-Monetary items including equity are recorded at the historical rate of exchange; and |
|------------------|------------------------------------------------------------------------------------------|

| (iii)   | Revenues and expenses are recorded at the period average in which the transaction occurred. |
|-------------------|---------------------------------------------------------------------------------------------|

----

|   | MACKENZIE TAYLOR MINERALS INC. |
|--------|--------------------------------|

|   | The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | Statement of Cash Flows |
|--------|-------------------------|

|   | For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Environmental Requirements |
|--------|----------------------------|

|   | At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | MACKENZIE TAYLOR MINERALS INC. |
|--------|--------------------------------|

|   | The Company acquired three mineral claims, known as the Gold Charms Two, situated in British Columbia, with an expiration date of December 2, 2011. The claims were extended during the current year with a payment of $1,542.   On the date of this report the Company had not established the existence of a commercially minable ore deposit on the claims. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On June 11, 2008, the shareholders of the Company approved a 30 to 1 forward stock split which became effective on that date, resulting in an increase of the outstanding shares of common stock from 3,777,000 to 113,310,000.  The 113,310,000 post split common shares are shown as split from the date of inception. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | GOING CONCERN |
|----|---------------|

|   | The Company will need additional working capital to service its debt and for its intended purpose of acquiring another mineral claim, which raises substantial doubt about its ability to continue as a going concern. Management’s strategy to continue as a going concern includes receiving additional working capital from its President, Terry Stimpson or its Chief Financial Officer, Kendall O’Leary, and obtaining additional equity funding and long term financing, which will enable the Company to operate for the coming year. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----