UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

(Mark one)

|X| ANNUAL  REPORT UNDER SECTION 13 OR 15(d) OF THE  SECURITIES  EXCHANGE ACT OF
1934

For the fiscal year ended:   April 30, 2007
                             --------------

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

For the transition period from _________ to ___________

Commission file number: 333-126680

                                RAVEN GOLD CORP.
                 (Name of small business issuer in its charter)

           Nevada                                        20-2551275
 (State or other jurisdiction               (I.R.S. Employer Identification No.)
of incorporation or organization)

             Suite 1513, 610 Granville Street
          Vancouver, British Columbia, Canada               V6C 3T3
          -----------------------------------               -------
        (Address of principal executive offices)          (Zip Code)

Issuer's telephone Number: (604) 688-7526

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

Securities registered under Section 12(g) of the Exchange Act: NONE
                                                               ----

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes |X| No |_|

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by reference  in Part III of this Form 10-KSB or any  amendment to
this Form 10-K.

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

The Issuer's revenue for its most recent fiscal year: Nil.

The  aggregate  market value of the voting stock held by  non-affiliates  of the
registrant based on the closing price of the  registrant's  common stock ($1.18)
as reported on the OTC Bulletin Board on August 9, 2007  $87,603,200 As of April
30, 2007, there were outstanding  75,240,000 shares of common stock,  $0.001 par
value per share.



<PAGE>

                                TABLE OF CONTENTS

                        [MDM, PLEASE FILL IN THE PAGE #S]


                              PART I                                        PAGE

ITEM 1.   Description of Business........................................... 3
ITEM 2.   Description of Property........................................... 15
ITEM 3.   Legal Proceedings................................................. 21
ITEM 4.   Submission of Matters to a Vote of Security Holders............... 21

                              PART II

ITEM 5.   Market for Common Equity and Related Stockholder Matters.......... 22
ITEM 6.   Management's Discussion and Analysis or Plan of Operation......... 25
ITEM 7.   Financials Statements............................................. 29
ITEM 8.   Changes In and Disagreements with Accountants on Accounting
          and Financial Disclosure.......................................... 31
ITEM 8A.  Controls and Procedures........................................... 33

                            PART III

ITEM 9.   Directors, Executive Officers, Promoters, Control Persons and
          Corporate Governance; Compliance With Section 16(a) of the
          Exchange Act...................................................... 34
ITEM 10.  Executive Compensation............................................ 37
ITEM 11.  Security Ownership of Certain Beneficial Owners and Management
          Related Stockholder Matters....................................... 40
ITEM 12.  Certain Relationships and Related Transactions, and
          Director Independence............................................. 41
ITEM 13.  Exhibits.......................................................... 42
ITEM 14.  Principal Accounting Fees and Services............................ 43

   Signatures............................................................... 44

<PAGE>

ITEM 1. DESCRIPTION OF BUSINESS

                Information Regarding Forward Looking Statements

Raven Gold Corp. (the "Company" or "we" or "us" or "our") has made
forward-looking statements (within the meaning of the Private Securities
Litigation Reform Act of 1995) in this Annual Report on Form 10-KSB (the "Annual
Report") that are not historical facts are "forward-looking statements" which
can be identified by the use of terminology such as "estimates," "projects,"
"plans," "believes," "expects," "anticipates," "intends," or the negative or
other variations, or by discussions of strategy that involve risks and
uncertainties. We urge you to be cautious of the forward-looking statements,
that such statements, which are contained in this Annual Report, reflect our
current beliefs with respect to future events and involve known and unknown
risks, uncertainties and other factors affecting our operations, market growth,
mineral claims, mineral exploration activities and licenses. No assurances can
be given regarding the achievement of future results, as actual results may
differ materially as a result of the risks we face, and actual events may differ
from the assumptions underlying the statements that have been made regarding
anticipated events. Factors that may cause actual results, our performance or
achievements, or industry results, to differ materially from those contemplated
by such forward-looking statements include without limitation:

1. Our ability to attract and retain management; 2. Our growth strategies; 3.
Anticipated trends in our business; 4. Environmental risks; 5. Competition; 6.
The ability of our management team to execute its plans to meet its goals; 7.
General economic conditions, whether internationally, nationally or in the
regional and local market areas in which we are doing business, that may be less
favorable than expected; and 8. Other economic, competitive, governmental,
legislative, regulatory, geopolitical and technological factors that may
negatively impact our businesses, operations and pricing

Forward-looking statements should not be read as a guarantee of future
performance or results, and will not necessarily be accurate indications of
whether, or the times by which, our performance or results may be achieved.
Forward-looking statements are based on information available at the time those
statements are made and management's belief as of that time with respect to
future events, and are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those expressed in or
suggested by the forward-looking statements. Important factors that could cause
such differences include, but are not limited to, those factors discussed under
the headings "Risk factors", "Management's discussion and analysis of financial
condition and results of operations", "Business" and elsewhere in this
prospectus.

                                       3
<PAGE>
Organizational History

We were incorporated in the State of Nevada on February 9, 2005 under the name
of Riverbank Resources, Inc., as a developmental stage company.

Our headquarters are located at Suite 1513, 610 Granville Street, Vancouver,
British Columbia, Canada V6C 3T3.

Recent Developments

La Currita Groupings Agreement

On May 3, 2007, we entered into the La Currita Groupings Agreement (the
"Groupings Agreement") with Tara Gold Resources Corp. ("Tara") setting forth the
agreements reached by our company and Tara to amend and replace in its entirety
the Joint Venture Agreement (the "JV Agreement") dated August 23, 2006, entered
into by and among our company, Tara and Corporacion Amermin S.A. de C.V., a 97%
owned subsidiary of Tara ("Amermin"), as amended by Amendment No. 1 to JV
Agreement dated March 30, 2007, pursuant to which we agreed to acquire certain
rights, including but not limited to, the following: (1) to earn an initial 25%
undivided interest in La Currita Groupings ("La Currita"), conditional on our
company making certain payments to Tara; (2) acquiring the right to increase our
interest in La Currita to 40%, by meeting certain notice and payment terms of
the Agreement; and (3) acquiring the right to increase our interest in La
Currita to 60%, by meeting certain notice and payment terms of the Agreement,
all as more fully set forth in the Agreement, a copy of which was filed as
Exhibit 10.1 to our Current Report on Form 8-K filed with the United States
Securities and Exchange Commission (the "SEC") on May 9, 2007.

Resignation of Gary Haukeland, appointment of Blair Naughty, David Michaud and
Laurence Stephenson.

On June 1, 2007, Mr. Gary Haukeland resigned as our President and CEO, and
effective as of the same date, we appointed Mr. Blair Naughty as a member of our
Board of Directors and as our President and CEO. On June 7, 2007 Mr. David
Michaud was appointed as a member of our Board of Directors. Additionally, on
June 12, 2007 Mr. Laurence Stephenson was appointed as a member of our Board of
Directors.


                                       4
<PAGE>
Overview

On April 26, 2005, we entered into a Purchase and Sale Agreement with Gudmund
Lovang, an individual residing in North Vancouver British Columbia, whereby he
sold to us a 100% undivided right title and interest in one mineral claim
located in the Skeena Mining Division of British Columbia, Canada known as the
Big Mike mineral property. We acquired this interest in the Big Mike property by
paying $3,000 to Mr. Lovang. During the year ended April 30, 2006 the Company
decided to discontinue exploration work on the Big Mike mineral project property
and consequently the mineral rights were impaired 100%.

In August of 2006 and effective as of June 1, 2006 we entered an agreement with
Tara Gold Resources Corp for the "Las Minitas" property. The Las Minitas
Property is located in Sonora, Mexico, approximately 40 air kilometers northwest
of the town of Alamos. The property lies at the western edge of the province
known as the Sierra Madre Occidental gold-silver belt where a number of
successful gold/silver exploration projects are ongoing. Historical information
regarding Las Minitas indicates three mineralized zones of interest that contain
an estimated of 13,534,398 million tonnes of ore grading 7.58 oz/t silver and
0.0089 oz/t gold. Metallurgical testing indicates that recoveries of 90% for
both silver and gold may be achievable by cyanidation alone. We plan to focus
our initial efforts on the validation of the previous exploration work that
outlined three wide, high-grade, lode-type mineralized bodies: the North,
Central, and El Negro zones, with postulated strike lengths of 400, 500, and 700
meters respectively. These three zones are considered to be outstanding precious
metal exploration targets and Tara Gold is currently developing a plan to
confirm previous findings and conduct a focused sampling and drilling program.

In addition, in August of 2006 and effective as of May 30, 2006 we entered an
agreement with Tara Gold Resources Corp for the "La Currita" property. In this
agreement Raven Gold Corp. has the option to earn up to 60% interest in the La
Currita Groupings by making certain payments to Tara Gold, issuing 750,000
shares, making all remaining property payments and by spending a minimum of $3.5
million over the next 36 months. In addition to the capital investment on
exploration and mill expansion, we are required to expand the La Currita Mill to
a minimum of 4,000 tons per month before earning 40% and a minimum of 8,000 tons
per month before earning 60% interest. The property includes 4 mines, a 150
ton/day operating floatation mill and stockpiled ore. The La Currita mine was in
steady production from 1983 until 1998. A diamond drilling exploration program
conducted in 1998 indicated 109,000 tons of 2.59 g/t Au and 200 g/t Ag. La
Currita Groupings are located in the Sierra Madre Gold-Silver belt.

On February 23, 2007, we filed a Certificate of Amendment to our Articles of
Incorporation, as amended, (the "Amendment") with the Secretary of State of the
State of Nevada that was effective as of March 5, 2007, to increase our
authorized common stock from 69,000,000 shares to 500,000,000 shares (the
"Increase"). In addition, we filed the Amendment to effect a forward split (the
"Forward Split") of all of our shares of common stock issued and outstanding as
of the close of business on March 5, 2007 (the "Split Date"), whereby we issued
for every 1 share of our common stock issued and outstanding as of the close of
business on the Split Date, 1 additional share of our common stock.

                                       5
<PAGE>
Effective as of March 6, 2007, in connection with the Forward Split, our Common
Stock commenced trading under the new ticker symbol "RVNG.OB".

Plan of Operation

Our plan of operation for the next twelve months is to complete our efforts on
the validation of the previous exploration work with respect to the "Las
Minitas" and "La Currita" properties.

We have not earned any revenues from the date of our incorporation on February
9, 2005 to April 30, 2007. We do not anticipate earning revenues unless we
achieve net operating revenues from our "Las Minitas" and "La Currita"
properties, which is questionable pending the exploration and mill expansion
results. We have not commenced the exploration stage of our business and can
provide no assurance that we will discover gold or mineral findings on the
properties, or if such findings are discovered, or that we will enter into
commercial production


Business Overview

We are in the business of the acquisition, and exploration of mineral properties
with a view to exploiting any mineral deposits we discover that demonstrate
economic feasibility.

We intend to explore for base and precious metals on our property. There can be
no assurances that valuable minerals exist on our property until proper
geological work and analysis is performed. Our property has no proven or
probable mineral reserves. There is no assurance that a commercially viable
mineral deposit exists on our property. Further exploration is required before
we can evaluate whether any exist and, if so, whether it would be economically
and legally feasible to develop or exploit those resources. Even if we complete
an exploration program and we are successful in identifying a mineral deposit,
we would be required to spend substantial funds on further drilling and
engineering studies before we could know whether that mineral deposit would
constitute a reserve (a reserve is a commercially viable mineral deposit).
Please refer to the section entitled `Risk Factors' in this annual report on
Form 10-KSB, for additional information about the risks of mineral exploration
Compliance with Government Regulation We will be required to conduct all mineral
exploration activities in accordance with the state and federal regulations.
Such operations are subject to various laws governing land use, the protection
of the environment, production, exports, taxes, labor standards, occupational
health, waste disposal, toxic substances, well safety and other matters.
Unfavorable amendments to current laws, regulations and permits governing
operations and activities of resource exploration companies, or more stringent
implementation thereof, could have a materially adverse impact and cause
increases in capital expenditures which could result in a cessation of
operations. We have had no material costs related to compliance and/or permits
in recent years, and anticipate no material costs in the next year. We will not
be required to obtain a permit in order to conduct Phases 1 and 2 of our
proposed exploration program. Employees As of April 30, 2007, we had two
employees. We anticipate that we will be conducting most of our business through
agreements with consultants and third parties. To the extent that we are
successful in developing our business and in our efforts to diversify our
business, we would anticipate hiring additional employees/contractors in the
next year to handle anticipated growth.

                                       6
<PAGE>
Competition

There is aggressive competition within the mineral industry to discover and
acquire mining properties considered to have commercial potential. We compete
for the opportunity to participate in promising exploration projects with other
entities, many of which have greater resources than us. In addition, we compete
with others in efforts to obtain financing to explore and develop mineral
properties.

Intellectual Property

We do not own, either legally or beneficially, any patent or trademark.

                                  RISK FACTORS

You should carefully consider the risks described below as well as other
information provided to you in this Annual Report, including information in the
section of this Annual Report entitled "Information Regarding Forward Looking
Statements." The risks and uncertainties described below are not the only ones
facing the Company. Additional risks and uncertainties not presently known to
our company or that we currently believe are immaterial may also impair our
business operations. If any of the following risks actually occur, our business,
financial condition or results of operations could be materially adversely
affected, the value of our common stock could decline, and you may lose all or
part of your investment.

Risks related to our financial results

We have incurred losses since inception, have yet to attain profitable
operations and anticipate that we will continue to incur losses for the
foreseeable future.

As of April 30, 2007, we have incurred a total loss of $154,581 and have no
revenues to date. We also have plans to significantly increase our expenses
associated with our acquisition and exploration of minerals claims and
properties. There is no assurance, we will be able to derive revenues from our
acquisition and exploration of our mineral claims, successfully achieve positive
cashflow or that our mineral acquisition and exploration business will be
successful. Furthermore, in light of our losses, we will need to generate
revenues in order to achieve and sustain profitability. If we do achieve
profitability, we may be unable to sustain or increase profitability on a
quarterly or annual basis. Any of these factors could cause our stock price to
decline.

                                       7
<PAGE>
We have a limited operating history and as a result there is no assurance we can
operate on a profitable basis.

We have a limited operating history. Our company's operations will be subject to
all the risks inherent in the establishment of an exploration stage enterprise
and the uncertainties arising from the absence of a significant operating
history. Potential investors should be aware of the difficulties normally
encountered by mineral exploration companies and the high rate of failure of
such enterprises. The likelihood of success must be considered in light of the
problems, expenses, difficulties, complications and delays encountered in
connection with the exploration of the mineral properties that we plan to
undertake. These potential problems include, but are not limited to,
unanticipated problems relating to exploration, and additional costs and
expenses that may exceed current estimates. The expenditures to be made by us in
the exploration of the mineral claims may not result in the discovery of mineral
deposits. Problems such as unusual or unexpected formations of rock or land and
other conditions are involved in mineral exploration and often result in
unsuccessful exploration efforts. If the results of our exploration do not
reveal viable commercial mineralization, we may decide to abandon our claims and
acquire new claims for new exploration or cease operations. The acquisition of
additional claims will be dependent upon us possessing capital resources at the
time in order to purchase such claims. If no funding is available, we may be
forced to abandon our operations. No assurance can be given that we may be able
to operate on a profitable basis.

If we do not obtain additional financing, our business will fail and our
investors could lose their investment.

We had cash and cash equivalents in the amount of $321,671, working capital
deficit of $1,781,168 as of our year ended April 30, 2007. We currently do not
generate revenues from our operations. Our business plan calls for substantial
investment and cost in connection with the acquisition and exploration of our
mineral properties currently under lease and option. Any direct acquisition of
the claim under lease or option is subject to our ability to obtain the
financing necessary for us to fund and carry out exploration programs on the
properties. The requirements are substantial. We do not currently have any
arrangements for additional financing and we can provide no assurance to
investors that we will be able to find such financing if required. Obtaining
additional financing would be subject to a number of factors, including market
prices for minerals, investor acceptance of our properties, and investor
sentiment. These factors may make the timing, amount, terms or conditions of
additional financing unavailable to us. The most likely source of future funds
presently available to us is through the sale of equity capital and loans. Any
sale of share capital will result in dilution to existing shareholders.

                                       8
<PAGE>
Because there is no assurance that we will generate revenues, we face a high
risk of business failure.

We have not earned any revenues as of the date of this annual report and have
never been profitable. We do not have an interest in any revenue generating
properties. Prior to our being able to generate revenues, we will incur
substantial operating and exploration expenditures without realizing any
revenues. We therefore expect to incur significant losses into the foreseeable
future. We have limited operating history upon which an evaluation of our future
success or failure can be made. Our net loss for the year ended April 30, 2007
is $154,581. We recognize that if we are unable to generate significant revenues
from our activities, we will not be able to earn profits or continue operations.
Based upon current plans, we also expect to incur significant operating losses
in the future. We cannot guarantee that we will be successful in raising capital
to fund these operating losses or generate revenues in the future. We can
provide investors with no assurance that we will generate any operating revenues
or ever achieve profitable operations. If we are unsuccessful in addressing
these risks, our business will most likely fail and our investors could lose
their investment.

Risks Related To Our Business And Our Industry

Because of the speculative nature of the exploration of natural resource
properties, there is substantial risk that this business will fail.

There is no assurance that any of the claims we explore or acquire will contain
commercially exploitable reserves of minerals. Exploration for natural resources
is a speculative venture involving substantial risk. Hazards such as unusual or
unexpected geological formations and other conditions often result in
unsuccessful exploration efforts. We may also become subject to significant
liability for pollution, cave-ins or hazards, which we cannot insure or which we
may elect not to insure.

If we cannot compete successfully for financing and for qualified managerial and
technical employees, our exploration program may suffer.

Our competition in the mining industry includes large established mining
companies with substantial capabilities and with greater financial and technical
resources than we have. As a result of this competition, we may be unable to
acquire additional financing on terms we consider acceptable. We also compete
with other mining companies in the recruitment and retention of qualified
managerial and technical employees. If we are unable to successfully compete for
financing or for qualified employees, our exploration program may be slowed down
or suspended.

                                       9
<PAGE>
We have no known mineral resources and if we cannot find any mineral recourses
we may have to cease operations. We have no measured mineral bodies. If we do
not find a mineral body or bodies containing valuable minerals or metals or if
we cannot conduct further exploration of any discovered minerals, either because
we do not have money to do it or because it is not economically feasible to do
it, we may have to cease operations and you will loose your investment Mineral
exploration and prospecting is highly competitive and speculative business and
we may not be successful in seeking available opportunities. The process of
mineral exploration and prospecting is a highly competitive and speculative
business. In seeking available opportunities, we will compete with a number of
other companies, including established, multi-national companies that have more
experience and financial and human resources than us. Because we may not have
the financial and managerial resources to compete with other companies, we may
not be successful in our efforts to acquire new projects. However, while we
compete with other exploration companies, there is no competition for the
exploration or removal of mineral from our claims. Compliance with environmental
consideration and permitting could have a material adverse affect on the costs
or the viability of our products. The historical trend toward a stricter
environmental regulation may continue, and, and such, represents an unknown
factor in our planning process. All mining in United States, Canada and Mexico
is regulated by various government agencies at the federal, stated and
provincial levels in that country. Compliance with such regulation could have a
material effect on the economics of our operations and the timing of project
development. Our primary regulatory costs will be related to obtaining licenses
and permits from government agencies before the commencement of mining
activities. An environmental impact study that must be obtained on each
property, in order to obtain governmental approval to mine on the properties, is
also a part of the overall operating costs of a mining company. The gold and
mineral mining business is subject not only to worker health and safety, and
environmental risks associated with all mining businesses, but is also subject
to additional risks uniquely associated with gold and other minerals mining.
Although we believe that our operations will be in compliance, in all material
respects, with all relevant permits, licenses and regulations involving worker
health and safety, as well as the environment, the historical trend toward
stricter environmental regulation may continue. The possibility of more
stringent regulations exists in the areas of worker health and safety, the
dispositions of wastes, the decommissioning and reclamation of mining and
milling sites and other environmental matters, each of which could have an
adverse material effect on the costs or the viability of a particular project.
In the event we successfully acquire the remaining share capital of Flex Fuels,
we would expect to be subject to the same or greater extent to the
aforementioned risks. Mining and exploration activities are subject to extensive
regulation by federal, state and provincial governments. Future changes in
governments, regulations and policies, could adversely affect our results of
operations for a particular period and our long-term business prospects.

Mining and exploration activities are subject to extensive regulation by various
government agencies. Such regulation relates to production, development,
exploration, exports, taxes and royalties, labor standards, occupational health,
waste disposal, protection and remediation of the environment, mine and mill
reclamation, mine and mill safety, toxic substances and other matters.
Compliance with such laws and regulations has increased the costs of exploring,
drilling, developing, constructing, operating mines and other facilities.
Furthermore, future changes in governments, regulations and policies, could
adversely affect our results of operations in a particular period and its
long-term business prospects.

                                       10
<PAGE>
The development of mines and related facilities is contingent upon governmental
approvals, which are complex and time consuming to obtain and which, depending
upon the location of the project, involve various governmental agencies. The
duration and success of such approvals are subject to many variables outside of
our control.

Inability of our officers and directors to devote sufficient time to the
operation of the business may limit our company's success.

Presently some of our officers and directors allocate only a portion of their
time to the operation of our business. If the business requires more time for
operations than anticipated or the business develops faster than anticipated,
the officers and directors may not be able to devote sufficient time to the
operation of the business to ensure that it continues as a going concern. Even
if this lack of sufficient time of our management is not fatal to our existence,
it may result in limited growth and success of the business.

As we will be subject to compliance with government regulation that may change,
the anticipated costs of our exploration program may increase.

There are several governmental regulations that materially restrict mineral
exploration or exploitation. We may be required to obtain work permits, post
bonds and perform remediation work for any physical disturbances to the land in
order to comply with these regulations. While our planned exploration program
budgets for regulatory compliance, there is a risk that new regulations could
increase our costs of doing business and prevent us from carrying out our
exploration program.

Risks Related to this Offering and Our Common Stock
---------------------------------------------------

There is a limited market for our common stock which may make it more difficult
for you to dispose of your stock.

Our common stock has been quoted on the OTC Bulletin Board under the symbol
"RVNG.OB" since March 6, 2007. There is a limited trading market for our common
stock. Furthermore, the trading in our common stock maybe highly volatile, as
for example, approximately more than two-thirds of the trading days during March
of 2007 saw trading in our stock of less than 100,000 shares per day. During
that same period, the smallest number of shares trade in one day was 0 and the
largest number of shares traded in one day was 118,500. Accordingly, there can
be no assurance as to the liquidity of any markets that may develop for our
common stock, the ability of holders of our Common Stock to sell our Common
Stock, or the prices at which holders may be able to sell our Common Stock.

                                       11
<PAGE>
The price of our Common Stock may be volatile

The trading price of our Common Stock may be highly volatile and could be
subject to fluctuations in response to a number of factors beyond our control.
Some of these factors are:

     o    our results of operations and the performance of our competitors;
     o    the public's reaction to our press releases, our other public
          announcements and our filings with the SEC;
     o    changes in earnings estimates or recommendations by research analysts
          who follow, or may follow, us or other companies in our industry;
     o    changes in general economic conditions;
     o    changes in market prices for gold;
     o    actions of our historical equity investors, including sales of common
          stock by our directors and executive officers;
     o    actions by institutional investors trading in our stock;
     o    disruption of our operations;
     o    any major change in our management team;
     o    other developments affecting us, our industry or our competitors; and
     o    U.S. and international economic, legal and regulatory factors
          unrelated to our performance.

In recent years the stock market has experienced significant price and volume
fluctuations. These fluctuations may be unrelated to the operating performance
of particular companies. These broad market fluctuations may cause declines in
the market price of our common stock. The price of our Common Stock could
fluctuate based upon factors that have little or nothing to do with our company
or its performance, and those fluctuations could materially reduce our Common

Stock price.

Our Common Stock is subject to the "penny stock" rules of the SEC and the
trading market in our securities is limited, which makes transactions in our
stock cumbersome and may reduce the value of an investment in our stock.

The Securities and Exchange Commission has adopted Rule 15g-9 which establishes
the definition of a "penny stock," for the purposes relevant to us, as any
equity security that has a market price of less than $5.00 per share or with an
exercise price of less than $5.00 per share, subject to certain exceptions. For
any transaction involving a penny stock, unless exempt, the rules require:


     o    that a broker or dealer approve a person's account for transactions in
          penny stocks; and
     o    the broker or dealer receive from the investor a written agreement to
          the transaction, setting forth the identity and quantity of the penny
          stock to be purchased.

                                       12
<PAGE>
In order to approve a person's account for transactions in penny stocks, the
broker or dealer must:

     o    obtain financial information and investment experience objectives of
          the person; and
     o    make a reasonable determination that the transactions in penny stocks
          are suitable for that person and the person has sufficient knowledge
          and experience in financial matters to be capable of evaluating the
          risks of transactions in penny stocks.

The broker or dealer must also deliver, prior to any transaction in a penny
stock, a disclosure schedule prepared by the Commission relating to the penny
stock market, which, in highlight form:

     o    sets forth the basis on which the broker or dealer made the
          suitability determination; and

     o    that the broker or dealer received a signed, written agreement from
          the investor prior to the transaction.

Generally, brokers may be less willing to execute transactions in securities
subject to the "penny stock" rules. This may make it more difficult for
investors to dispose of our common stock and cause a decline in the market value
of our stock.

Disclosure also has to be made about the risks of investing in penny stocks in
both public offerings and in secondary trading and about the commissions payable
to both the broker-dealer and the registered representative, current quotations
for the securities and the rights and remedies available to an investor in cases
of fraud in penny stock transactions. Finally, monthly statements have to be
sent disclosing recent price information for the penny stock held in the account
and information on the limited market in penny stocks.

The requirements of being a public company, including compliance with the
reporting requirements of the exchange act and the requirements of the Sarbanes
Oxley act, strains our resources, increases our costs and may distract
management, and we may be unable to comply with these requirements in a timely
or cost-effective manner.

As a public company, we need to comply with laws, regulations and requirements,
including certain corporate governance provisions of the Sarbanes-Oxley Act of
2002 and related regulations of the SEC and requirements of OTCBB. Complying
with these statutes, regulations and requirements occupies a significant amount
of the time of our board of directors and management. We are or may be required
to:

     o    institute a comprehensive compliance function;
     o    establish internal policies, such as those relating to disclosure
          controls and procedures and insider trading;
     o    design, establish, evaluate and maintain a system of internal controls
          over financial reporting in compliance with the requirements of
          Section 404 of the Sarbanes-Oxley Act and the related rules and
          regulations of the SEC and the Public Company Accounting Oversight
          Board;
     o    prepare and distribute periodic reports in compliance with our
          obligations under the federal securities laws;
     o    involve and retain outside counsel and accountants in the above
          activities; and
     o    establish an investor relations function.

                                       13
<PAGE>
In addition, rules adopted by the SEC pursuant to Section 404 of the
Sarbanes-Oxley Act of 2002 will require annual assessment of our internal
control over financial reporting, and attestation of the assessment by our
independent registered public accountants. The requirement of an annual
assessment of our internal control over financial reporting and the attestation
of the assessment by our independent registered public accountants will first
apply to our annual report for fiscal year ended March 31, 2009. As the
standards that must be met for management to assess the internal control over
financial reporting as effective are new and complex, when applicable to us,
will require significant documentation, testing and possible remediation to meet
the detailed standards, and we may encounter problems or delays in completing
activities necessary to make an assessment of our internal control over
financial reporting.

In the future, when these compliance standards are applicable to us, if we are
unable to accomplish these objectives or achieve required compliance in a timely
and effective fashion, our ability to comply with our financial reporting
requirements and other rules that apply to reporting companies could be
impaired, and we may be subject to sanctions or investigation by regulatory
authorities such as the SEC or Nasdaq. In addition, failure to comply with
Section 404 or a report of a material weakness may cause investors to lose
confidence in us and may have a material adverse effect on our stock price.

The Company does not expect to pay dividends in the future. Any return on
investment may be limited to the value of the Company's stock.

The Company does not anticipate paying cash dividends on its stock in the
foreseeable future. The payment of dividends on the Company's stock will depend
on its earnings, financial condition and other business and economic factors
affecting the Company at such time as the board of directors may consider
relevant. If the Company does not pay dividends, its stock may be less valuable
because a return on your investment will only occur if the Company's stock price
appreciates.

A sale of a substantial number of shares of the Company's common stock may cause
the price of its common stock to decline. If the Company's stockholders sell
substantial amounts of the Company's common stock in the public market,
including shares issued upon the exercise of outstanding options or warrants,
the market price of its common stock could fall. These sales also may make it
more difficult for the Company to sell equity or equity-related securities in
the future at a time and price that the Company deems reasonable or appropriate.
Stockholders who have been issued shares in the Acquisition will be able to sell
their shares pursuant to Rule 144 under the Securities Act of 1933, beginning
one year after the stockholders acquired their shares.

                                       14
<PAGE>
We may need additional capital that could dilute the ownership interest of
investors.

We require substantial working capital to fund our business. If we raise
additional funds through the issuance of equity, equity-related or convertible
debt securities, these securities may have rights, preferences or privileges
senior to those of the rights of holders of our common stock and they may
experience additional dilution. We cannot predict whether additional financing
will be available to us on favorable terms when required, or at all. Since our
inception, we have experienced negative cash flow from operations and expect to
experience significant negative cash flow from operations in the future. The
issuance of additional common stock by our management may have the effect of
further diluting the proportionate equity interest and voting power of holders
of our common stock, including investors in this offering.

ITEM 2. DESCRIPTION OF PROPERTY

Principal Executive Offices

Our principal offices are located at Suite 1513, 610 Granville Street,
Vancouver, British Columbia, Canada V6C 3T3. Our principal office is comprised
of approximately _680 square feet. Lease payments at fiscal year ended April 30,
2007 were $nil per month and are due on a month-to-month basis. We believe that
our office space and facilities are sufficient to meet our present needs and do
not anticipate any difficulty securing alternative or additional space, as
needed, on terms acceptable to us.

Big Mike Property Purchase Agreement

On April 26, 2005, we entered into a mineral purchase and sale agreement with
Gudmund Lovang of North Vancouver, British Columbia, whereby he sold to us a
100% undivided right title and interest in one mineral claim located in the
Skeena Mining Division of British Columbia, Canada. We acquired this interest in
the Big Mike property by paying $3,000 to Mr. Lovang.

Title to the Big Mike property

The Big Mike property consists of one mineral claim comprising 61 acres. A
"mineral claim" refers to a specific section of land over which a title holder
owns rights to explore the ground and subsurface, and extract minerals. Title to
the Big Mike property is registered in the name of Gudmund Lovang. He has
provided us with an absolute bill of sale with respect to the property. An
absolute bill of sale is a legal document that transfers registered title to
mineral property rights from one party to another unconditionally. Mr. Lovang
holds these claims on our behalf, however, based on the absolute bill of sale,
Mr. Lovang does not retain any right to the claims. There are no underlying
interests or interests in the property.

                                       15
<PAGE>
Claim details are as follows:


 Claim Name                     Record                        Expiration Date
                                Number
--------------------------------------------------------------------------------
  Big Mike                      380857                        December 11, 2007

Location and Access

The Big Mike property's coordinates are 55(degree)50'50" N. Latitude,
130(degree)02'40" W. Longitude and consist of 61 acres. It is located on the
eastern shore of the Portland Canal, about six miles south of the towns of
Stewart, British Columbia and Hyder, Alaska, in the Skeena Mining Division in
northern British Columbia, Canada. The town of Stewart lies off a paved highway,
approximately eight miles northeast of Hyder, Alaska, which is 40 miles to the
west of Meziadin Junction, via the Village of Kitwanga, some 94 miles to the
south. The property can be reached via the Portland Canal in which forms part of
the boundary between British Columbia, Canada and the Alaskan Panhandle, near
the Pacific Ocean. (see location map below). The property lies approximately
3,000 feet above sea level from the rocky eastern shore of the Portland Canal,
in a heavily forested area.

Climate and Topography

The property lies in an area of coastal forest rising steeply from the rocky
eastern shore of the Portland Canal from sea level to 3,000 feet above sea
level.

The wet coastal climate is predominant with heavy rainfall during spring and
fall and heavy snowfall during the winter months. Depths of tens of feet of snow
can accumulate over the winter.

Dense vegetation consisting of cedar, fir, spruce and hemlock covers the
property and alder, shrubs and mosses can make footing difficult.

The property totals 61 acres and is covered with dense vegetation consisting of
a mix of cedar, fir, spruce and hemlock trees as well as alder, shrubs and
mosses. The area's wet coastal climate is predominant with heavy rainfall during
spring and fall and heavy snowfall during the winter months. Depths of tens of
feet of snow can accumulate over the winter.

                                       16
<PAGE>
Mineralization

Mineralization is the accumulation of high concentrations of valuable elements,
such as gold, silver and copper, in rock and soil.

The property is underlain by the following rock types:

Diorite: dark, granite-textured, crystalline rocks rich in sodium and calcium
aluminum, as well as small quantities of quartz

Granodioritic rocks: rocks containing a combination of acid and alkaline

Andesites: volcanic rocks characteristically medium dark in color and containing
54 to 62 percent silica and moderate amounts of iron and magnesium

Siltstone: a fine-grained standstone

Slate: a metamorphic rock that splits into thin, smooth-surfaced layers.
Metaphoric rocks are rocks that have undergone a transformation from its
original state due to pressure and/or heat.

The area of the Big Mike property is mapped as being underlain by Jurassic Age
volcanic rocks and sedimentary rocks, intruded by plutonic complex granitic
rocks, all of which are intruded by igneous dikes and quartz veins. Jurassic Age
volcanic rocks are rocks that vary from 146 to 200 million years old. Plutonic
granitic rocks are created when a mass of molten rock cools below the earth's
surface.

The main adit found on the Big Mike property was developed along a quartz vein
along an east-trending fault in metaphoric rocks. An adit is an opening driven
horizontally into a side of a hill or mountain in order to access rock within.
The south adit is some 850 feet south of the main adit. Both adits are underlain
with various metaphoric and volcanic rocks.

The claim was created on December 11, 2004 and is in good standing until
December 11, 2007 as all required exploration work on the claim has been
completed.

Exploration History

During 1925 and 1926, the Big Mike property was first staked and the main
underground adit was excavated to a length of 115 feet along a quartz vein.
Another underground adit of 100 feet long was excavated approximately 850 feet
south of the main adit along a southeastern fault.

                                       17
<PAGE>
Mr. A.A. Davidson inspected the property in the 1920's. Two samples taken from
the vein along both adits contained some gold.

A program of geological, geophysical and geochemical surveying was carried out
over a large area that included the Big Mike property during September and
November 1986. Shangri-La Minerals Ltd. conducted the surveys for Alexa Ventures
Inc. Results of the survey are not public.

Geological Report

We retained Mr. William G. Timmins, P. Eng., a professional geologist, to
complete an evaluation of the Big Mike property and to prepare a geology report
on the claim.

Based on his review, Mr. Timmins concluded that the Big Mike property warrants
further exploration due to the geochemistry and inferred geological continuity,
as well as the lack of previous exploration.

Mr. Timmins recommends an initial exploration program consisting of two phases.
The first phase would consist of staking additional mineral claims adjacent to
the property in order to cover potential extensions of mineralization,
trenching, stripping and sampling the open cut extension as well as clearing and
rehabilitating the main underground adit. Trenching involves removing surface
soil using a backhoe or bulldozer. Samples are then taken from the bedrock below
and analyzed for mineral content. Clearing and rehabilitating refers to removing
rock and debris from an adit that has not been explored for some time.

The second phase would consist of drilling of the vein extension. Drilling
involves extracting a long cylinder of rock from the ground to determine amounts
of metals at different depths. Pieces of the rock obtained, known as drill core,
are analyzed for mineral content. The first phase was estimated to cost
$25,300.The first phase of exploration was completed in the in the winter of
2005- 2006.

The program consisted of trenching and stripping the open cut area,
rehabilitation of main adit portal, sampling and prospecting. Chemical analysis
of samples collected during the work program revealed low, or trace amounts, of
mineralization on the property. Furthermore, the prospecting carried out on the
property has not revealed any additional zones of further interest therefore,
Mr.Timmins, on his letter to the company dated January 12, 2006, reports that
further exploration expenditure on the Big Mike property is not justified and is
therefore not recommended.

                                       18
<PAGE>
Mineral Properties

On April 26, 2005, the Company acquired the mining rights to two claims
collectively known as the Big Mike Border Gold property located in the Skeeena
Mining District of British Columbia, Canada, for a purchase price of $3,000. The
Company received rights to all minerals contained in the Big Mike Border Gold
property.

During January 2006, chemical analysis of samples collected during the work
program revealed low, or trace amounts, of mineralization on the property.
Furthermore, the prospecting carried out on the property did not reveal any
additional zones of further interest therefore, our geologist, Mr.William G.
Timmins, P. Eng., on his letter to the company dated January 12, 2006, reported
that further exploration expenditure on the Big Mike property would not be
justified and recommended the company abandon the claim, consequently the
minerals rights were impaired 100%.

In August of 2006 and effective as of June 1, 2006 we entered an agreement with
Tara Gold Resources Corp for the "Las Minitas" property. The Las Minitas
Property is located in Sonora, Mexico, approximately 40 air kilometers northwest
of the town of Alamos. The property lies at the western edge of the province
known as the Sierra Madre Occidental gold-silver belt where a number of
successful gold/silver exploration projects are ongoing. Historical information
regarding Las Minitas indicates three mineralized zones of interest that contain
an estimated of 13,534,398 million tonnes of ore grading 7.58 oz/t silver and
0.0089 oz/t gold. Metallurgical testing indicates that recoveries of 90% for
both silver and gold may be achievable by cyanidation alone. We plan to focus
our initial efforts on the validation of the previous exploration work that
outlined three wide, high-grade, lode-type mineralized bodies: the North,
Central, and El Negro zones, with postulated strike lengths of 400, 500, and 700
meters respectively. These three zones are considered to be outstanding precious
metal exploration targets and Tara Gold is currently developing a plan to
confirm previous findings and conduct a focused sampling and drilling program.

In addition, in August of 2006 and effective as of May 30, 2006 we entered an
agreement with Tara Gold Resources Corp for the "La Currita" property. In this
agreement Raven Gold Corp. has the option to earn up to 60% interest in the La
Currita Groupings by making certain payments to Tara Gold, issuing 750,000
shares, making all remaining property payments and by spending a minimum of $3.5
million over the next 36 months. In addition to the capital investment on
exploration and mill expansion, we are required to expand the La Currita Mill to
a minimum of 4,000 tons per month before earning 40% and a minimum of 8,000 tons
per month before earning 60% interest. The property includes 4 mines, a 150
ton/day operating floatation mill and stockpiled ore. The La Currita mine was in
steady production from 1983 until 1998. A diamond drilling exploration program
conducted in 1998 indicated 109,000 tons of 2.59 g/t Au and 200 g/t Ag. La
Currita Groupings are located in the Sierra Madre Gold-Silver belt.

                                       19
<PAGE>
On May 3, 2007, we entered into the La Currita Groupings Agreement (the
"Groupings Agreement") with Tara Gold Resources Corp. ("Tara") setting forth the
agreements reached by our company and Tara to amend and replace in its entirety
the Joint Venture Agreement (the "JV Agreement") dated August 23, 2006, entered
into by and among our company, Tara and Corporacion Amermin S.A. de C.V., a 97%
owned subsidiary of Tara ("Amermin"), as amended by Amendment No. 1 to JV
Agreement dated March 30, 2007, pursuant to which we agreed to acquire certain
rights, including but not limited to, the following: (1) to earn an initial 25%
undivided interest in La Currita Groupings ("La Currita"), conditional on our
company making certain payments to Tara; (2) acquiring the right to increase our
interest in La Currita to 40%, by meeting certain notice and payment terms of
the Agreement; and (3) acquiring the right to increase our interest in La
Currita to 60%, by meeting certain notice and payment terms of the Agreement,
all as more fully set forth in the Agreement, a copy of which was filed as
Exhibit 10.1 to our Current Report on Form 8-K filed with the United States
Securities and Exchange Commission (the "SEC") on May 9, 2007.

Infrastructure

There is no power source located on the Big Mike claims. We will not require any
electrical or mechanical equipment as no further exploration work is
contemplated on the claims.

Compliance with Government Regulations

Our mineral exploration program will comply with the British Columbia Mineral
Tenure Act. This act sets forth rules for:

        *      locating claims
        *      posting claims
        *      working claims
        *      reporting work performed

We also have to comply with the British Columbia Mineral Exploration Code which
tells us how and where we can explore for minerals. We must comply with these
laws to operate our business. Compliance with these rules and regulations will
not adversely affect our operations.

In order to explore for minerals on our mineral claim we must submit the plan
contained in this prospectus for review. We believe that the plan as contained
in this prospectus will be accepted and an exploration permit will be issued to
us or our agent. The exploration permit is the only permit or license we will
need to explore for precious and base minerals on the mineral claim.

                                       20
<PAGE>
We will be required to obtain additional work permits from the British Columbia
Ministry of Energy and Mines for any exploration work that results in a physical
disturbance to the land. Accordingly, we may be required to obtain a work permit
if we proceed beyond the exploration work contemplated by our proposed Phase II
exploration program. There is a charge of approximately $1,500 in order to
obtain a work permit under the Mining Act. The time required to obtain a work
permit is approximately four weeks. We will incur the expense of our consultants
to prepare the required submissions to the Ministry of Energy and Mines. We will
be required by the Mining Act to undertake remediation work on any work that
results in physical disturbance to the land. The cost of remediation work will
vary according to the degree of physical disturbance. No remediation work is
anticipated as a result of completion of Phase II of the exploration program.

As mentioned above, we will have to sustain the cost of reclamation and
environmental remediation for all exploration and other work undertaken. The
amount of reclamation and environmental remediation costs are not known at this
time as we do not know the extent of the exploration program that will be
undertaken beyond completion of the recommended exploration program. Because
there is presently no information on the size, tenor, or quality of any mineral
resource at this time, it is impossible to assess the impact of any capital
expenditures on earnings or our competitive position in the event a potential
mineral deposit is discovered.

Permits and regulations will control all aspects of any program if the project
continues to exploration stage because of the potential impact on the
environment. We may be required to conduct an environmental review process under
the British Columbia Environmental Assessment Act if we determine to proceed
with a substantial project.

ITEM 3. LEGAL PROCEEDINGS

We are currently not a party to any material pending legal proceedings or
government actions, including any bankruptcy, receivership, or similar
proceedings. However, from time to time we may be a defendant and plaintiff in
various legal proceedings arising in the normal course of our business. In
addition, management is not aware of any known litigation or liabilities
involving the operators of our properties that could affect our operations.
Should any liabilities incurred in the future, they will be accrued based on
management's best estimate of the potential loss. As such, there is no adverse
effect on our consolidated financial position, results of operations or cash
flow at this time. Furthermore, our management does not believe that there are
any proceedings to which any of our directors, officers, or affiliates, any
owner of record of the beneficially or more than five percent of our common
stock, or any associate of any such director, officer, affiliate, or security
holder is a party adverse to our company or has a material interest adverse to
us.

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

On February 20, 2007, our shareholders holding 53% of our issued and outstanding
common stock as of the equal date approved via an action by the written consent
of the majority of shareholders for us to increase our authorized common stock
from 37,620,000 shares to 75,240,000 shares. In connection with said increase,
we also effected a 2-for-l (2:1) forward stock split (the "Forward Split"). The
Forward Split became effective on March 6, 2007 ("Effective Date"), upon the
filing by us of the Certificate of Amendment with the Nevada Secretary of State.
On the Effective Date, 37,620,000 issued and outstanding shares of our common
stock were increased to 75,240,000 shares, and in connection with the Forward
Split our common stock commenced trading under the new ticker symbol "RVNG.OB".

                                       21
<PAGE>
                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.

Market Information

Our Common stock is traded on the OTC Bulletin Board. Effective as of March 6,
2007, in connection with a Forward Split, our Common Stock commenced trading
under the new ticker symbol "RVNG.OB".

The following sets forth the range of the closing bid prices for the Company's
Common Stock for the period starting April 30, 2006 through April 30, 2007.

   ------------------------- ---------------------- ---------------------------
                                     HIGH                        LOW
   ------------------------- ---------------------- ---------------------------
   FISCAL YEAR 2006
   ------------------------- ---------------------- ---------------------------
   First Quarter                    $0.001                     $0.001
   ------------------------- ---------------------- ---------------------------
   Second Quarter                   $0.001                     $0.001
   ------------------------- ---------------------- ---------------------------
   Third Quarter                    $0.001                     $0.001
   ------------------------- ---------------------- ---------------------------
   Fourth Quarter                   $0.001                     $0.001
   ------------------------- ---------------------- ---------------------------

   ------------------------- ---------------------- ---------------------------
   FISCAL YEAR 2007
   ------------------------- ---------------------- ---------------------------
   First Quarter                    $0.001                      $0.01
   ------------------------- ---------------------- ---------------------------
   Second Quarter                   $0.576                     $0.556
   ------------------------- ---------------------- ---------------------------
   Third Quarter                    $0.788                      $0.80
   ------------------------- ---------------------- ---------------------------
   Fourth Quarter                   $0.75                       $.70
   ------------------------- ---------------------- ---------------------------



                                       22
<PAGE>
The shares quoted are subject to the provisions of Section 15(g) and Rule 15g-9
of the Securities Exchange Act of 1934, as amended (the Exchange Act"), commonly
referred to as the "penny stock" rule. Section 15(g) sets forth certain
requirements for transactions in penny stocks and Rule 15(g)9(d)(1) incorporates
the definition of penny stock as that used in Rule 3a51-1 of the Exchange Act.

The Commission generally defines penny stock to be any equity security that has
a market price less than $5.00 per share, subject to certain exceptions. Rule
3a51-1 provides that any equity security is considered to be a penny stock
unless that security is: registered and traded on a national securities exchange
meeting specified criteria set by the Commission; authorized for quotation on
The NASDAQ Stock Market; issued by a registered investment company; excluded
from the definition on the basis of price (at least $5.00 per share) or the
registrant's net tangible assets; or exempted from the definition by the
Commission. Trading in the shares is subject to additional sales practice
requirements on broker-dealers who sell penny stocks to persons other than
established customers and accredited investors, generally persons with assets in
excess of $1,000,000 or annual income exceeding $200,000, or $300,000 together
with their spouse.

For transactions covered by these rules, broker-dealers must make a special
suitability determination for the purchase of such securities and must have
received the purchaser's written consent to the transaction prior to the
purchase. Additionally, for any transaction involving a penny stock, unless
exempt, the rules require the delivery, prior to the first transaction, of a
risk disclosure document relating to the penny stock market. A broker-dealer
also must disclose the commissions payable to both the broker-dealer and the
registered representative, and current quotations for the securities. Finally,
the monthly statements must be sent disclosing recent price information for the
penny stocks held in the account and information on the limited market in penny
stocks. Consequently, these rules may restrict the ability of broker dealers to
trade and/or maintain a market in the company's common stock and may affect the
ability of stockholders to sell their shares.

Transfer Agent

Our common shares are issued in registered form. Empire Stock Transfer Inc.,
7251 West Lake Mead Boulevard, Suite 300, Las Vegas, Nevada 89128-8351
(Telephone: 775.562.4091; Facsimile: 775.974.1444) is the registrar and transfer
agent for our common shares.

                                       23
<PAGE>
Holders

As of April 30, 2007 there were ___ stockholders of record of our common stock.
As of such date, 75,240,000 common shares were issued and outstanding.

Dividends

We have never declared any cash dividends and do not anticipate paying such
dividends in the near future. We anticipate future earnings, if any, to be
retained for use in our business. Any future determination to pay cash dividends
will be at the discretion of the Board of Directors and will be dependent upon
our results of operations, financial conditions, contractual restrictions, and
other factors deemed relevant by the Board of Directors. We are under no
contractual restrictions in declaring or paying dividends to our common or
preferred shareholders.

Sales of Unregistered Securities

None

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

None.

Equity Compensation Plan Information

As of April 30, 2007 we have not adopted any equity compensation plan pursuant
to which we may grant equity awards to eligible persons.



                                       24
<PAGE>
The following table summarizes our equity compensation plan information as of
April 30, 2007.

Plan Category(1) Number of Shares to Weighted-Average Number of Shares
<TABLE>
<CAPTION>
                                                                                                             Remaining Available
                                                                                                             for Future Issuance
                                                                                                                Under Equity
                                               Be Issued upon                                                 Compensation Plans
                                                Exercise of                   Exercise Price of               (Excluding Shares
                                                Outstanding                 Outstanding Options,                 Reflected in
                                             Options, Warrants               Warrants and Rights                 Column (a))
                                                and Rights)                          (b)                             (c)
--------------------------------------   ------------------------------  -------------------------------  --------------------------
<S>                                            <C>                              <C>                        <C>    <C>
Equity Compensation plans approved by
     stockholders                                        N/A                              N/A                             N/A
Equity Compensation plans not approved by
     stockholders                                        N/A                              N/A                             N/A
         Total                                           N/A                              N/A                             N/A

</TABLE>
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF OPERATIONS

Forward Looking Statements

Please see page 3 of this Annual Report for "Information Regarding Forward
Looking Statements" appearing throughout this Annual Report.

Business Overview

For this information please see Part 1, Item 1 "Description of Business."

Results Of Operations

Year Ended April 30, 2007 Compared to Year Ended April 30, 2006

         Revenues for the year ended April 30, 2007 were nil compared to nil for
the year ended April 30, 2006. This represents no change from the previous year.

         For the year ended April 30, 2007, operating expenses totaled $154,680
as compared to $47,908 for the year ended April 30, 2006. This was an increase
of $106,772 or 223%. This increase was primarily due to a substantial increase
in filing costs incurred by the Company associated with an increased amount of
transactions undertaken by the Company.

                                       25
<PAGE>
         Our net loss was $154,581 for the year ended April 30, 2007 compared to
a net loss of $50,917 for the year ended April 30, 2006. The decrease in
profitability for the year ended April 30, 2007 was due to an increase in
listing and filing expenses incurred by us in satisfying requirements of being a
reporting company.

Liquidity and Capital Resources

         Our total current assets as of April 30, 2007 were $321,671, all in
cash as compared with $1,370 in total current assets as of April 30, 2006, which
included cash of $0. Additionally, we had a shareholders deficiency in the
amount of $156,168 as of April 30, 2007 as compared to shareholders' deficiency
of $1,587 as of April 30, 2006. The shareholders' deficit is a result of the
Company incurring a loss of mineral rights during the aforementioned period. We
have historically incurred losses and have financed our operations through loans
and from the proceeds of the corporation selling shares of our common stock
privately.

         The number of common shares outstanding increased from 37,620,000 to
75,240,000 effective as of March 6, 2007. This increase was a direct result of a
2-for-1 forward stock split of our common stock which we effected in March of
2007.

         We had $128,472 of negative cash outflow from operating activities for
the year ended on April 30, 2007, compared to a negative cashflow of $51,701 for
the year ended April 30, 2006, an increase in cash outflow of approximately 148%
or $76,771.

         We had $2,075,143 of cash inflow from financing activities during the
year ended April 30, 2007, as compared to no cashflow from financing activities
for the year ended April 30, 2006, attributable to issuance of promissory notes
payable.

         We had $2,125,000 cash outflow from investing activities for the year
ended on April 30, 2007, and we did not have any cash outflow from investing
activities during the year ended on April 30, 2006.

         The on-going negative cash flow from operations raises substantial
doubt about our ability to continue as a going concern. Our ability to continue
as a going concern is dependent on our ability to raise additional capital and
implement its business plan.

         We have not realized any revenues since inception, and for the year
ended April 30, 2007, and we are presently operating at an ongoing deficit.

                                       26
<PAGE>
         We have not attained profitable operations and will require additional
funding in order to cover the anticipated professional fees and general
administrative expenses and to proceed with the anticipated investigation to
identify and purchase new mineral properties worthy of exploration or any other
business opportunities that may become available to us. We anticipate that
additional funding will be required in the form of equity financing from the
sale of our common stock. However, we cannot provide investors with any
assurance that we will be able to raise sufficient funding from the sale of our
common stock to fund the purchase and the development of any future projects. We
believe that debt financing will not be an alternative for funding future
corporate programs. We do not have any arrangements in place for any future
equity financings.

         As of April 30, 2007 we had a working capital deficiency of $1,781,168
compared to $1,587 for the year ended April 30, 2006. A major portion of our
debt is attributed to payments made for mineral properties, investment in a
joint venture and operating deficiency. We plan to reduce these debts with
proceeds generated from normal operational cash flow as well as the issuance of
company stock.

         At April 30, 2007 we had no bank debt.

Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are reasonably likely
to have a current or future effect on our financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that is material to investors.

Recent Accounting Pronouncements

Statement of Financial Accounting Standards ("SFAS") No. 151, "Inventory Costs -
an amendment of ARB No. 43, Chapter 4"" SFAS No. 152, "Accounting for Real
Estate Time-Sharing Transactions - an amendment of FASB Statements No. 66 and
67," SFAS No. 153, "Exchanges of Non-monetary Assets - an amendment of APB
Opinion No. 29," and SFAS No. 123 (revised 2004), "Share-Based Payment," were
recently issued. SFAS No. 151, 152, 153 and 123 (revised 2004) have no current
applicability to us and have no effect on the financial statements.

SFAS 155, Accounting for certain Hybrid Financial Instruments and SFAS 156,
Accounting for servicing of Financial Assets were recently issued. SFAS 155 and
156 have no current applicability to us and have no effect on the financial
statements.

                                       27
<PAGE>
In May 2005, the FASB issued SFAS 154, Accounting Changes and Error Corrections.
This Statement replaces APB Opinion No. 20, Accounting Changes, and FASB
statement No 3, Reporting Accounting Changes in Interim Financial Statements,
and changes the requirements for the accounting for and reporting of a change in
accounting principle. This (Expressed in U.S. Dollars) Statement applies to all
voluntary changes in accounting principle. It also applies to changes required
by an accounting pronouncement in the usual instance that the pronouncement does
not include specific transition provisions. SFAS 154 also requires that a change
in depreciation, amortization or depletion method for long-lived, non-financial
assets be accounted for as a change in accounting estimate effected by a change
in accounting principle. This Statement is effective in fiscal years beginning
after December 15, 2005. We have not yet determined the effect of implementing
this standard.

Critical Accounting Policies

We have identified the policies outlined below as critical to our business
operations. The list is not intended to be a comprehensive list of all of our
accounting policies. In many cases, the accounting treatment of a particular
transaction is specifically dictated by accounting principles generally accepted
in the United States, with no need for management's judgment in their
application. The impact and any associated risks related to these policies on
our business operations are discussed throughout Management's Plan of Operations
where such policies affect our reported and expected financial results. Note
that our preparation of the financial statements requires us to make estimates
and assumptions that affect the reported amount of assets and liabilities,
disclosure of contingent assets and liabilities at the date of our financial
statements, and the reported amounts of revenue and expenses during the
reporting period. There can be no assurance that actual results will not differ
from those estimates.



                                       28
<PAGE>
ITEM 7. FINANCIAL STATEMENTS


                   Index To Consolidated Financial Statements

                                                                         Page

Reports of Independent Registered Public Accounting Firm..................F-1

Reports of Independent Registered Public Accounting Firm..................F-2

Balance Sheets at April 30, 2007 and 2006.................................F-3

Statements of Losses for the Years Ended April 30, 2007
and 2006 and the period from February 9, 2005
(date of inception) to April 30, 2007.....................................F-4

Statements of Changes in Stockholders' Equity for the Years
Ended April 30, 2007 and 2006 and the period from
February 9, 2005 (date of inception) to April 30, 2007................... F-5

Statements of Cash Flows for the Years Ended April 30, 2007
and 2006 and the period from February 9, 2005
(date of inception) to April 30, 2007.................................... F-6

Notes to the Financial Statements.....................................F-7 - F-12




                                       29
<PAGE>
                                RAVEN GOLD CORP.

                       (formerly Riverbank Resources Inc.)

                         (An Exploration Stage Company)

                         REPORT AND FINANCIAL STATEMENTS

                             April 30, 2007 and 2006

                             (Stated in US Dollars)




                                       30
<PAGE>
MOORE & ASSOCIATES, CHARTERED
      ACCOUNTANTS AND ADVISORS
      -----------------------
             PCAOB REGISTERED


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors
Raven Gold Corp (Formerly Riverbank Resources Inc).
(A Exploration Stage Company)


We have  audited the  accompanying  balance  sheet of Raven Gold Corp  (Formerly
Riverbank  Resources  Inc). as of April 30, 2007, and the related  statements of
operations,  stockholders'  equity and cash flows through April 30, 2007 and the
year then  ended.  These  financial  statements  are the  responsibility  of the
Company's  management.  Our  responsibility  is to  express  an opinion on these
financial statements based on our audits. The financial statements of Raven Gold
Corp (Formerly Riverbank  Resources) as of April 30, 2006, were audited by other
auditors whose report dated June 15, 2006,  expressed an unqualified  opinion on
those statements.

We conducted  our audits in  accordance  with  standards  of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and  perform  the  audits to  obtain  reasonable  assurance  about  whether  the
financial  statements  are free of  material  misstatement.  An  audit  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial  statements.  An audit also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by  management,  as well as
evaluating the overall  financial  statement  presentation.  We believe that our
audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the  financial  position of Raven Gold Corp  (Formerly
Riverbank Resources Inc). as of April 30, 2007 and the results of its operations
and its cash  flows  through  April 30,  2007,  in  conformity  with  accounting
principles generally accepted in the United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial statements, the Company has not achieved profitable operations and has
accumulates  losses of $212,788 since  inception which raise  substantial  doubt
about its ability to continue as a going concern.  Management's plans concerning
these  matters are also  described in Note 1. The  financial  statements  do not
include any adjustments that might result from the outcome of this uncertainty.


/s/ Moore & Associates, Chartered

Moore & Associates Chartered
Las Vegas, Nevada
August 11, 2007



               2675 S. Jones Blvd. Suite 109, Las Vegas, NV 89146
                       (702) 253-7499 Fax (702) 253-7501
--------------------------------------------------------------------------------

                                      F-1

<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors of:
Riverbank Resources, Inc.
(An Exploration Stage Company)


We have audited the accompanying balance sheet of Riverbank Resources,  Inc. (an
exploration  stage  company) as of April 30, 2006 and the related  statements of
operations,  changes in  stockholders'  equity and cash flows for the year ended
April 30, 2006 and for the period from February 9, 2005 (inception) to April 30,
2005 and for the period from  February 9, 2005  (inception)  to April 30,  2006.
These financial  statements are the responsibility of the Company's  management.
Our responsibility is to express an opinion on these financial  statements based
on our audit.


We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.


In our opinion, the financial statements referred to above present fairly in all
material  respects,  the  financial  position of Riverbank  Resources,  Inc. (an
exploration  stage  company)  as of  April  30,  2006  and  the  results  of its
operations  and its cash  flows for the year  ended  April 30,  2006 and for the
period from  February 9, 2005  (inception)  to April 30, 2005 and for the period
from  February  9,  2005  (inception)  to April 30,  2006,  in  conformity  with
accounting principles generally accepted in the United States of America.


The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 5 to the
financial statements, the Company is in the exploration stage with no operations
and has a negative cash flow from  operations of $56,577 from  inception.  These
factors  raise  substantial  doubt  about its  ability  to  continue  as a going
concern. Management's plans concerning this matter are also described in Note 5.
The accompanying  financial statements do not include any adjustments that might
result from the outcome of this uncertainty.





WEBB & COMPANY, P.A.


Boynton Beach, Florida
June 15, 2006




                                      F-2
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                                 BALANCE SHEETS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)

<TABLE>
<CAPTION>
                                     ASSETS                                      2007               2006
                                                                                 ----               ----

<S>                                                                           <C>            <C>
Current
Cash and Equivalents ......................................................   $   321,671    $        --
Prepaid Expenses ..........................................................            --          1,370
                                                                              -----------    -----------
                                                                                  321,671          1,370

Investment in Joint Venture ...............................................       500,000             --


Mineral Properties ........................................................     1,625,000             --
                                                                              -----------    -----------

                                                                              $ 2,446,671    $     1,370
                                                                              ===========    ===========

                                   LIABILITIES

Current
Bank overdraft ............................................................   $        --    $     2,957
Accounts Payable ..........................................................        24,739             --
Advances from Related Party ...............................................         3,100             --
Loans Payable .............................................................     2,075,000             --

                                                                              -----------    -----------
                                                                                2,102,839          2,957


                        STOCKHOLDERS' EQUITY (DEFICIENCY)

Capital stock
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued
and outstanding Common stock, $0.001 par value, 500,000,000 authorized,
75,240,000 shares issued and outstanding  as of April 30, .......                  75,240         74,240

2006, 74,240,000 as of April 30, 2006

Additional paid-in capital ................................................       481,380        (17,620)

Subscriptions receivable ..................................................            --
Deficit accumulated during the exploration stage ..........................      (212,788)       (58,207)
                                                                              -----------    -----------

                                                                                  343,832         (1,587)
                                                                              -----------    -----------

                                                                              $ 2,446,671    $     1,370
                                                                              ===========    ===========
</TABLE>
   The accompanying notes are an integral part of these financial statements.

                                      F-3
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                            STATEMENTS OF OPERATIONS
                 for the years ended April 30, 2007 and 2006 and
           for the period from February 9, 2005 (Date of Inception) to
                                 April 30, 2007
                             (Stated in US Dollars)
<TABLE>
<CAPTION>


                                                                                             Feburary 9,
                                                                                              2005
                                                                                             (Date of
                                                                      Years ended          Inception) to
                                                                       April 30,             April 30,
                                                                 2007             2006         2007
                                                            --------------------------------------------
<S>                                                         <C>             <C>             <C>
 Expenses
 Exploration costs and expenses .........................   $          -    $     25,000    $     29,750
 Professional fees ......................................         56,925          19,194          78,532
 General and administrative .............................         40,870             187          41,168
 Listing and filing .....................................         29,217           3,248          32,665
 Investor relations .....................................         24,668             279          24,947
                                                            ------------    ------------    ------------
 Total expenses .........................................        151,680          47,908         207,062
                                                            ------------    ------------    ------------

 Loss before other items ................................       (151,680)        (47,908)       (207,062)

 Other Income and Expenses
 Impairment (loss) of Mineral Rights ....................             --          (3,000)         (3,000)
 Foreign Currency transaction (loss) ....................         (2,901)             (9)         (2,726)
                                                            ------------    ------------    ------------

 Net loss for the period ................................       (154,581)        (50,917)       (212,788)
                                                            ============    ============    ============


 Basic and diluted loss per share - continuing operations   $      (0.00)   $      (0.00)
                                                            ============    ============    ============

Weighted average number of shares outstanding ...........     74,740,000      74,240,000
                                                            ============    ============    ============
</TABLE>

    The accompanying notes are an integral part of these financial statements


                                      F-4
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                 STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY)
           for the period from February 9, 2005  (Date of Inception) to
                                 April 30, 2007
                             (Stated in US Dollars)
<TABLE>
<CAPTION>



                                                                                              Deficit
                                                                                             Accumulated
                                                                             Additional      During the
                                                        Common Shares          Paid-in       Exploration
                                                   *Number       Par Value     Capital         Stage           Total
                                                  --------------------------------------------------------------------
<S>                                 <C>           <C>         <C>           <C>            <C>           <C>
Capital stock issued for cash: - at $0.0001       64,200,000  $     64,200  $   (57,780)   $         -   $       6,420
                               - at $0.005        10,040,000        10,040       40,160              -          50,200
Net loss for the period
February 9, 2005 (inception)
to April 30, 2005                                          -             -            -         (7,290)         (7,290)
                                                  --------------------------------------------------------------------

Balance, as at April 30, 2005                     74,240,000        74,240      (17,620)        (7,290)         49,330
Net loss for the year                                      -             -            -        (50,917)        (50,917)

                                                  --------------------------------------------------------------------
Balance, as at April 30, 2006                     74,240,000        74,240      (17,620)       (58,207)         (1,587)
Stock issued for investment in
Joint Venture at $0.50/share                       1,000,000         1,000      499,000              -         500,000

Net loss for the year                                      -             -            -       (154,581)       (154,581)

Balance, as at April 30, 2007                     75,240,000  $     75,240  $   481,380    $  (212,788)  $     343,832
                                                  ==========  ============  ===========    ===========   =============

</TABLE>
    The accompanying notes are an integral part of these financial statements


                                      F-5
<PAGE>
                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                            STATEMENTS OF CASH FLOWS
                 for the years ended April 30, 2007 and 2006 and
           for the period from February 9, 2005 (Date of Inception) to
                                 April 30, 2007
                             (Stated in US Dollars)

<TABLE>
<CAPTION>
                                                                                                             February 9,
                                                                                                            2005 (Date of
                                                                                     Years ended            Inception) to
                                                                                       April 30,               April,
                                                                                 2007              2006         2007
                                                                             ------------------------------------------

<S>                                                                           <C>            <C>            <C>
Operating Activities
Net loss for the period ...................................................   $  (154,581)   $   (50,917)   $  (212,788)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of mineral rights ..............................................            --          3,000             --
Change in non-cash working capital balance:
Prepaid expenses ..........................................................         1,370         (1,370)            --
Accounts payable and expenses .............................................        24,739         (2,414)        24,739
                                                                              -----------    -----------    -----------

Cash used in operating activities .........................................      (128,472)       (51,701)      (188,049)
                                                                              -----------    -----------    -----------

Investing Activities
Investment in Joint Venture ...............................................      (500,000)            --       (500,000)
Purchase of mineral rights ................................................    (1,625,000)            --     (1,625,000)
                                                                              -----------    -----------    -----------

Cash used in investing activities .........................................    (2,125,000)            --     (2,125,000)
                                                                              -----------    -----------    -----------

Financing Activities
Issuance of common stock ..................................................       500,000             --        556,620
Issuance of promissory notes payable ......................................     2,075,000             --      2,075,000
Due to related party ......................................................         3,100             --          3,100
Bank overdraft ............................................................        (2,957)         2,957             --
                                                                              -----------    -----------    -----------

Cash from financing activities ............................................     2,575,143          2,957      2,634,720
                                                                              -----------    -----------    -----------

Increase (decrease) in cash during the period .............................       321,671        (48,744)       321,671

Cash, beginning of the period .............................................            --         48,744             --
                                                                              -----------    -----------    -----------

Cash, end of the period ...................................................   $   321,671    $        --    $   321,671
                                                                              ===========    ===========    ===========

</TABLE>
    The accompanying notes are an integral part of these financial statements

                                      F-6
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)


Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

a)   Basis of Presentation

     These financial statements have been prepared in accordance with generally
     accepted accounting principles applicable to a going concern, which assumes
     that the Company will be able to meet its obligations and continue its
     operations for its next fiscal year. Realization values may be
     substantially different from carrying values as shown and these financial
     statements do not give effect to adjustments that would be necessary to the
     carrying values and classification of assets and liabilities should the
     Company be unable to continue as a going concern. At April 30, 2007, the
     Company had not yet achieved profitable operations, has accumulated losses
     of $212,788 since its inception, has a working capital deficiency of
     $2,031,168 and expects to incur further losses in the development of its
     business, all of which casts substantial doubt about the Company's ability
     to continue as a going concern. The Company's ability to continue as a
     going concern is dependent upon its ability to generate future profitable
     operations and/or to obtain the necessary financing to meet its obligations
     and repay its liabilities arising from normal business operations when they
     come due. Management has no formal plan in place to address this concern
     but considers that the Company will be able to obtain additional funds by
     equity financing and/or related party advances, however there is no
     assurance of additional funding being available.

b)   Organization

     Riverbank Resources Inc. (an exploration stage company) ("the Company") was
     incorporated under the laws of the State of Nevada on February 9, 2005. The
     Company is a natural resource exploration company with an objective of
     acquiring, exploring and if warranted and feasible, developing natural
     resource properties. Activities during the development stage include
     developing the business plan and raising capital.

     On August 14, 2006 the Company filed a certificate of amendment to the
     Nevada Secretary of State to change its name to Raven Gold Corp.

c) Use of estimates

     In preparing financial statements in conformity with generally accepted
     accounting principles, management is required to make estimates and
     assumptions that affect the reported amounts of assets and liabilities and
     the disclosure of contingent assets and liabilities at the date of the
     financial statements and revenues and expenses during the reported period.
     Actual results could differ from those estimates.

d)   Cash and Cash Equivalents

     For purposes of the cash flow statements, the Company considers all highly
     liquid investments with original maturities of three months or less at the
     time of purchaser to be cash equivalent.

e)   Mineral Interest

     Pursuant to SFAS No. 141 and SFAS No. 142, as amended by EITF 04-02,
     mineral interest associated with other than owned are classified as
     tangible assets. The Company had capitalized $3,000 related to the mineral
     rights acquired in 2005 and which were impaired as of April 30, 2007.


                                      F-7
<PAGE>


                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)



Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION - (Continued)

f)   Long-lived Assets

     The Company accounts for long-lived assets under the statements of
     Financial Accounting Standards Nos. 142 and 144 "Accounting for Goodwill
     and Other Intangible Assets" and "Accounting for Impairment or Disposal of
     Long-lived Assets" ("SFAS No. 142 and 144"). In accordance with SFAS No.
     142 and 144, long-lived assets held and used by the Company are reviewed
     for impairment whenever events or changes in circumstances indicate that
     the carrying amount of an asset may not be recoverable. For purposes of
     evaluating the recoverability of long-lived assets, goodwill and intangible
     assets, the recoverability test is performed using undiscounted net cash
     flows related to the long-lived assets.

g)   Income Taxes

     The Company accounts for income taxes under the Statement of Financial
     Accounting Standards No. 109, "Accounting for Income Taxes" ("Statement
     109"). Under Statement 109, deferred tax assets and liabilities are
     recognized for future tax consequences attributable to differences between
     the financial statement carrying amounts of existing assets and liabilities
     and their respective tax bases. Deferred tax assets and liabilities are
     measured using enacted tax rates expected to apply to taxable income in the
     years in which those temporary differences are expected to be recovered or
     settled. Under Statement 109, the effect on deferred tax assets and
     liabilities of a change in tax rates is recognized in income in the period
     that includes the enactment date.

h)   Loss Per Share

     Basic and diluted net loss per common share is computed based upon the
     weighted average common shares outstanding as defined by Financial
     Accounting Standards No. 128, "Earnings Per Share." As of April 30,
     2007 and 2006, there were no dilutive securities outstanding.

i)   Foreign Currency Translation

     The Company's functional currency is the United States dollar as
     substantially all of the Company's operations were in the United States.
     The Company uses the United States dollar as its reporting currency for
     consistency with registrants of the Securities and Exchange Commission
     ("SEC") and in accordance with the SFAS No. 52.

     Assets and liabilities dominated in a foreign currency were translated at
     the exchange rate in effect at the period end and capital accounts are
     translated at historical rates. Income statement accounts are translated at
     the average rates of exchange prevailing during the period. Translation
     adjustments arising from the use of difference exchange rates from period
     to period were included in the cumulative effect of foreign currency
     translation adjustment account in stockholders' equity.

     Transactions undertaken in currencies other than the functional currency of
     the entity are translated using the exchange rate in effect as of the
     transaction date. Any exchange gains and losses are included in the
     Statement of Operations.

                                      F-8
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)


Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION - (Continued)

j)   Income Taxes

     The Company accounts for income taxes under the Statement of Financial
     Accounting Standards No. 109, "Accounting for Income Taxes" ("Statement
     109"). Under Statement 109, deferred tax assets and liabilities are
     recognized for future tax consequences attributable to differences between
     the financial statement carrying amounts of existing assets and liabilities
     and their respective tax bases. Deferred tax assets and liabilities are
     measured using enacted tax rates expected to apply to taxable income in the
     years in which those temporary differences are expected to be recovered or
     settled. Under Statement 109, the effect on deferred tax assets and
     liabilities of a change in tax rates is recognized in income in the period
     that includes the enactment date.


k)   Business Segments

     The Company operates in one segment and therefore segment information is
     not presented.

l)   Recent Accounting Pronouncements

     In June 2006, the Financial Accounting Standards Board ("FASB") issued FASB
     Interpretation No. 48, "Accounting for Uncertainty in Income Taxes". The
     interpretation clarifies the accounting for uncertainty in income taxes
     recognized in a company's financial statements in accordance with SFAS No.
     109, "Accounting for Income Taxes". Specifically, the pronouncement
     prescribes a recognition threshold and a measurement attribute for the
     financial statement recognition and measurement of a tax position taken or
     expected to be taken in a tax return. The interpretation also provides
     guidance on the related derecognition, classification, interest and
     penalties, accounting for interim periods, disclosure and transition of
     uncertain tax position. The interpretation is effective for fiscal years
     beginning after December 15, 2006. The adoption of FIN 48 is not expected
     to have a material impact on the Company's financial position, results of
     operations or cash flows; however, the Company is still analyzing the
     effects of FIN 48.

     In September 2006, the FASB issued SFAS No. 157, "Fair Value Measurements".
     This Statement defines fair value as used in numerous accounting
     pronouncements, establishes a framework for measuring fair value in
     generally accepted accounting principles and expands disclosure related to
     the use of fair value measures in financial statements. The Statement is to
     be effective for the Company's financial statements issued in 2008;
     however, earlier application is encouraged. The Company is currently
     evaluating the timing of adoption and the impact that adoption might have
     on its financial position or results of operations.

                                      F-9
<PAGE>
                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)


Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION - (Continued)

l)   Recent Accounting Pronouncements - (Continued)

     SFAS 155, Accounting for certain Hybrid Financial Instruments and SFAS 156,
     Accounting for servicing of Financial Assets were recently issued. SFAS 155
     and 156 have no current applicability to the Company and have no effect on
     the financial statements.

     In May 2005, the FASB issued SFAS 154, Accounting Changes and Error
     Corrections. This Statement replaces APB Opinion No. 20, Accounting
     Changes, and FASB statement No 3, Reporting Accounting Changes in Interim
     Financial Statements, and changes the requirements for the accounting for
     and reporting of a change in accounting principle. This (Expressed in U.S.
     Dollars) Statement applies to all voluntary changes in accounting
     principle. It also applies to changes required by an accounting
     pronouncement in the usual instance that the pronouncement does not include
     specific transition provisions. SFAS 154 also requires that a change in
     depreciation, amortization or depletion method for long-lived,
     non-financial assets be accounted for as a change in accounting estimate
     effected by a change in accounting principle. This Statement is effective
     in fiscal years beginning after December 15, 2005. The Company has not yet
     determined the effect of implementing this standard.

     In September 2006, the SEC issued Staff Accounting Bulletin No. 108 ("SAB
     108"). Due to diversity in practice among registrants, SAB 108 expressed
     SEC staff views regarding the process by which misstatements in financial
     statements are evaluated for purposes of determining whether financial
     statement restatement is necessary. SAB 108 is effective for fiscal years
     ending after November 15, 2006, and early application is encouraged. The
     Company does not believe SAB 108 will have a material impact on its
     financial position or results from operations.

Note 2 ACQUISITION OF MINERAL RIGHTS

     On April 26, 2005, the Company acquired the mining rights to two claims
     collectively known as the Big Mike Border Gold property located in the
     Skeena Mining District of British Columbia, Canada, for a purchase price of
     $3,000. The Company received rights to all minerals contained in the Big
     Mike Border Gold property.

     On August 23, 2006 the Company entered into an agreement with Tara Gold
     Resources Corp., for the La Currita Property, which was effective as of May
     30, 2006. According to the agreement the Company was to make payments of
     $50,000 on the 25th day of each month commencing June 2006 and ending April
     2007. A final payment of $25,000 is to be made May 25, 2007. Furthermore,
     according to the agreement on October 26, 2006, the Company issued and
     delivered to Tara Gold Resources Corp. 1,000,000 (post split) restricted
     shares of common stock. The Company has not made payments according to the
     scheduled required payments and has only paid a total of $150,000 against
     the scheduled required payments. An amount owing of $425,000 for the
     agreement is owing.

     On August 23, 2006 the Company also entered into an agreement with Tara
     Gold Resources Corp., for the Las Minitas Property, which was effective as
     of June 1, 2006. According to the agreement the Company was to make
     payments of $75,000 on the date of the agreement, $225,000 by August 1,
     2006, and a final payment of $300,000 was to be made November 1, 2006.
     Furthermore, according to the agreement on October 26, 2006, the Company
     issued and delivered to Tara Gold Resources Corp. 500,000 restricted shares
     of common stock. The Company has not made payments according to the
     scheduled required payments and has only paid a total of $250,000 against
     the scheduled required payments. An amount owing of $450,000 for the
     agreement is owing. Upon payment of the balance, the Company will retain a
     20% interest in this property.

                                      F-10
<PAGE>
                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)


Note 3 LOANS

     In May of 2006, the Company received $3,000 in advances from its former
     president. The balance is non-interest bearing and due on demand

     On May 25, 2006 the Company borrowed funds in the amount of $75,000 from
     Paradisus Investment Corp. The Company wired $75,000 on the same date to
     Tara Gold Resources Corp. as part of a purchase agreement between Raven
     Gold Corp. and Tara Gold Resources Corp. for "Las Minitas" property.

     On May 26, 2006 the Company borrowed funds in the amount of $75,000 from
     Paradisus Investment Corp. The Company wired $75,000 on the same date to
     Tara Gold Resources Corp. as part of a purchase agreement between Raven
     Gold Corp and Tara Gold Resources Corp for "La Currita" property.

     On June 25, 2006 the Company borrowed $50,000 from RPMJ Corporate
     Communications Ltd. The Company wired $50,000 on the same date to Tara Gold
     Resources Corp. as part of the purchase agreement between Raven Gold Corp
     and Tara Gold Resources Corp for "La Currita" property.

     On June 27, 2006 the Company borrowed $175,000 from Zander Investment
     Limited. The Company wired $175,000 on the same date to Tara Gold Resources
     Corp. as part of the purchase agreement between Raven Gold Corp. and Tara
     Gold Resources Corp. for "Las Minitas" property.

     On July 27, 2006 the Company borrowed $50,000 from Zander Investment
     Limited. The Company wired $50,000 on the same date to Tara Gold Resources
     Corp. as part of the purchase agreement between Raven Gold Corp. and Tara
     Gold Resources Corp for "La Currita" property.

     On August 23, 2006 the Company borrowed $50,000 from Paradisus Investment
     Corp. The Company wired $50,000 on the same date to Tara Gold Resources
     Corp. as part of the purchase agreement between Raven Gold Corp. and Tara
     Gold Resources Corp for "Las Minitas "property.

     On September 21, 2006 the Company borrowed $100,000 from Coach Capital,
     LLC. The Company wired $100,000 on the same date to Tara Gold Resources
     Corp. as part of the purchase agreement between Raven Gold Corp. and Tara
     Gold Resources Corp for "Las Minitas "property.

     On October 3, 2006 the Company borrowed $200,000 from 1230144 Alberta Ltd.,
     a private corporation.

     On October 5, 2006 the Company borrowed $500,000 from Coach Capital, LLC.
     The Company wired $500,000 on the same date to Tara Gold Resources Corp. as
     part of the purchase agreement between Raven Gold Corp. and Tara Gold
     Resources Corp., $75,000 for the "Las Minitas" and $425,000 for the "la
     Currita" properties.

     On October 12, 2006 the Company borrowed $500,000 from Coach Capital, LLC.
     The company wired $500,000 on the same date to Tara Gold Resources Corp. to
     invest in the Start-Up Capital to be repaid from 60% of the net operating
     revenue derived from "La Currita" property.

     On January 25, 2007 the Company wired $50,000 to Tara Gold Corp. as part of
     the purchase agreement between Raven Gold Corp. and Tara Gold Resources
     Corp for "La Currita" property.

                                      F-11
<PAGE>

                                RAVEN GOLD CORP.
                       (formerly Riverbank Resources Inc.)
                         (An Exploration Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                             April 30, 2007 and 2006
                             (Stated in US Dollars)


Note 3 LOANS - (Continued)

     On March 7, 2007 the Company borrowed $150,000 from Coach Capital, LLC. The
     Company wired $150,000 on the same date to Tara Gold Resources Corp. as
     part of the purchase agreement between Raven Gold Corp. and Tara Gold
     Resources Corp.

     On April 12, 2007 the Company borrowed $50,000 from Coach Capital, LLC. The
     Company wired $50,000 on the same date to Tara Gold Resources Corp. as part
     of the purchase agreement between Raven Gold Corp. and Tara Gold Resources
     Corp.

     On April 27, 2007 the Company borrowed $50,000 from Coach Capital, LLC.

Note 4 STOCKHOLDERS' EQUITY

     During 2005, the Company issued 64,200,000 shares of common stock
     to its founders for cash of $6,420 ($.0001 per share)

     During 2005, the Company issued 10,040,000 shares of common stock for cash
     of $50,200 ($0.005 per share).

     In August 2006 the Company performed a 5:1 forward split and on March 2007
     a 2:1 forward split of its common stock.

     On October 6, 2006 the Company entered into an agreement to acquire certain
     mineral properties from Tara Gold Resources Corp. Terms of the agreement
     required the Company to issue 1,000,000 (post split) restricted shares of
     common stock of the Company. On October 6 the Company issued the required
     restricted common stock of the Company for a per share) fair value of
     $500,000.

     In March 2007 the Company increased the authorized capital of common stock
     to 500,000,000.




                                      F-12
<PAGE>
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

(a) Previous independent accountants

(i) On September 19, 2006, Raven Gold Corp. (the "Company") terminated its
relationship with Webb & Company, P.A. ("Webb") as the Company's independent
registered public accountants. The decision to change accountants was
recommended and approved by the Company's Board of Directors.

(ii) Except for a "Going Concern" disclaimer issued by Webb in connection with
the audit of the Company's financial statements for each of the two prior fiscal
years ended April 30, 2006 and 2005, respectively, the reports of Webb on the
financial statements for the past two fiscal years contained no adverse opinion
or disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principle.

(iii) In connection with the Company's audits for the two most recent fiscal
years and up to the date of this Current Report, with the exception of Webb
informing the Company that during its initial review procedures for the
Company's Quarterly Report on Form 10-QSB for the three months ended July 31,
2006, Webb became aware of certain agreements that it believed were not properly
disclosed as subsequent events in the Company's Annual Report on Form 10-KSB for
the fiscal year ended April 30, 2006, and as further explained below, there have
been no disagreements with Webb on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements if not resolved to the satisfaction of Webb would have caused them
to make reference thereto in their report on the financial statements for such
years.

As disclosed in the Form 8-K/A filed by the Company with the SEC on September
29, 2006, Webb informed the company that during its initial review procedures
for the July 31, 2006 form 10-QSB, it had become aware of certain agreements
that were not properly disclosed as subsequent events in the April 30, 2006 form
10-KSB. The nature of the disagreement with Webb came about as a result of the
Company entering into a (I) Joint Venture Agreement with Tara Gold Resources
Corporation ("Tara") and Corporacion Amermin S.A. de C.V., a 97% owned
subsidiary of Tara Gold Resources Corp. ("Amermin"; Amermin and Tara shall
hereafter be collectively referred as "Tara Gold"), originally dated May 30,
2006 (the "JV Agreement"), relating to the Company's acquisition of 25% of
Tara's interests in the La Currita Groupings (as set forth in the JV Agreement),
and (II) Letter of Intent Agreement with Tara Gold, originally dated June 1,
2006 (the "LOI Agreement"; the LOI Agreement and the JV Agreement shall
collectively be referred to as the "Agreements"), relating to the Company's
acquisition of 20% interest in Tara's rights, privileges and interests in the
Las Minitas Groupings (as set forth in the LOI Agreement), and the Company
failing to properly communicate to Webb the following: (I) that the actual date
of execution of the Agreements was August 23, 2006, and (II) that that the
Company and Tara Gold had intended to have each of the Agreements be effective
as of May 31 and June 1, 2006, respectively, but the Agreements were actually
dated as of May 31 and June 1, 2006, but did not say that they were effective as
of these dates. This apparent disagreement was further compounded by the
Company's statements in the Current Report that it filed with the Commission on
Form 8-K on September 22, 2006, which reported the same information, i.e., that
the Company entered into these Agreements on the effective dates, rather then
stating that the Agreements were signed on August 23, 2006 with the intent to
have them be effective as of May 31 and June 1, 2006, respectively. As a result,
the Company believes this inaccurate disclosure gave rise to the reported
disagreement with Webb.

                                       31
<PAGE>
The Company believes that as of the date of this Current Report the
aforementioned disagreement has been resolved to Webb's satisfaction.

In light of the foregoing, the Company and Tara Gold have subsequently on March
30, 2007, entered into an Amendment to each respective Agreement setting forth
each of the parties' intentions to date the Agreements as of the date of the
execution and have an effective date match the dates currently appearing on the
Agreements. In addition, as a result of the foregoing, the Company will promptly
amend the aforementioned Current Report filed with the SEC on Form 8-K on
September 22, 2006, to rectify the disclosures set forth therein.

(iv) Except to the extent set forth in subparagraph (a)(iii) above and as set
forth below, during the two most recent fiscal years and as of the date of this
Current Report, Webb did not advise the Company with respect to items listed in
Regulation S-B Item 304(a)(1)(iv)(B)), and any such issues were not resolved to
Webb's satisfaction prior to its resignation or dismissal.

Prior to the Company's filing of the Current Report with the SEC on Form 8-K/A
filed on September 29, 2006, the Company's board of directors and its management
did not have formal discussions with Webb with respect to the subject matter of
the disagreement. Subsequent to the filing of the Current Report on Form 8-K/A
filed on September 29, 2006, the Company has been in discussions with Webb
regarding the nature of the disagreement, and as of the date of this Current
Report, believes that the aforementioned disagreement has been resolved to
Webb's satisfaction. The Company has also authorized Webb to respond fully to
the inquiries of Moore, the Company's current accountant, concerning the subject
matter of the disagreement.

(v) The Company has requested that Webb furnish it with a letter addressed to
the SEC stating whether or not it agrees with the above statements. A copy of
such letter is filed with this Current Report on Form 8-K as exhibit #16.1.

(b) New independent accountants

In addition, on September 19, 2006, the Company engaged Moore & Associates
("Moore") as its new independent registered public accountants as of equal date.
The decision to engage Moore was recommended and approved by the Company's Board
of Directors. During the two most recent fiscal years and through September 19,
2006, the Company did not consult with Moore regarding either (i) the
application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered on
the Company's financial statements, and neither a written report was provided to
the Company nor oral advice was provided that Moore concluded was an important
factor considered by the Company in reaching a decision as to the accounting,
auditing or financial reporting issue; or (ii) any matter that was either the
subject of a disagreement, the disagreement set forth above, or as that term is
defined in Item 304(a)(1)(iv) of Regulation S-B and the related instructions to
Item 304 of Regulation S-B.

                                       32
<PAGE>
ITEM 8A. CONTROLS AND PROCEDURES.

(a) Evaluation of Disclosure Controls and Procedures
Based on an evaluation of our disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as
amended) required by paragraph (b) of Rule 13a-15 or Rule 15d-15, as of March
31, 2007, our Chief Executive Officer and Chief Financial Officer have concluded
that our disclosure controls and procedures were effective in ensuring that
information required to be disclosed by us in the reports that we file or submit
under the Exchange Act is recorded, processed, summarized and reported within
the time periods specified in the Commission's rules and forms. Our Chief
Executive Officer and Chief Financial Officer also concluded that, as of April
30, 2007, our disclosure controls and procedures were effective in ensuring that
information required to be disclosed by us in the reports that we file or submit
under the Exchange Act is accumulated and communicated to our management,
including our Chief Executive Officer and Chief Financial Officer, to allow
timely decisions regarding required disclosure.

Limitations on the Effective of Controls

Our management does not expect that our disclosure controls or our internal
controls over financial reporting will prevent all error and fraud. A control
system, no matter how well conceived and operated, can provide only reasonable,
but no absolute, assurance that the objectives of a control system are met.
Further, any control system reflects limitations on resources, and the benefits
of a control system must be considered relative to its costs. These limitations
also include the realities that judgments in decision-making can be faulty and
that breakdowns can occur because of simple error or mistake. Additionally,
controls can be circumvented by the individual acts of some persons, by
collusion of two or more people or by management override of a control. A design
of a control system is also based upon certain assumptions about potential
future conditions; over time, controls may become inadequate because of changes
in conditions, or the degree of compliance with the policies or procedures may
deteriorate. Because of the inherent limitations in a cost-effective control
system, misstatements due to error or fraud may occur and may not be detected.

(b) Changes in Internal Controls
There were no changes in our internal controls over financial reporting that
could significantly, or are reasonably likely to materially affect, our affect
internal controls over financial reporting that occurred during the our fiscal
quarter ended April 30, 2007.

                                       33
<PAGE>
                                    PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE
GOVERNANCE; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

Except as provided in the footnotes, the following table sets forth information
regarding our directors and executive officers as of April 31, 2007:

    Name                  Age                  Position
----------------------- ------- ------------------------------------------------

Blair Naughty (1)                Chief Executive Officer, President and Director

David Michaud (2)                Director

Laurence Stephenson (3)          Director

Gary Haukeland                   Director

Bashir Virji                     Chief Financial Officer

(1) On June 1, 2007 the Company appointed Mr. Blair Naughty as a member of the
Board of Directors of the Company, President and CEO of the Company.
(2) On June 7, 2007 Mr. David Michaud was appointed as a member of the Board of
Directors of the Company.
(3) On June 12, 2007 Mr. Laurence Stephenson was appointed as a member of the
Board of Directors of the Company.



The term of office of each director of the Company ends at the next annual
meeting of the Company's stockholders or when such director's successor is
elected and qualifies. No date for the annual meeting of stockholders is
specified in the Company's bylaws or has been fixed by the Board of Directors.

The following information sets forth the backgrounds and business experience of
the directors, executive officers and key employees:

Blair Naughty. Mr. Naughty has 18 years experience in the junior mining markets,
holding positions at Midland Doherty, Sprott Securities, Yorkton Securities and
Infinity Mutual Funds between the years of 1989 and 1997. From 1998 until
present, Mr. Naughty has worked with both public and private mining companies
aiding them in investor awareness campaigns and in securing financing.

David Michaud. Mr. Michaud graduated from Queen's University in 1992 with a
Bachelor of Science degree in Mining Engineering. From 1993 to 1996 Mr. Michaud
worked in day-to-day operation as Plan Metallurgist for Comico on various mines
in Canada and the US. During the years from 1996 till 2001 Mr. Michaud was a
Senior Operations Metallurgist at Highland Valley Cooper, BC Canada. From 2002
until 2006 Mr. Michaud was Operations Superintendent and then Port Manager for
Compania Minera Antamina in Peru. Currently Mr. Michaud is Operations Manager
for Corriente Resources Inc. in Canada. With over 10 years experience in the
field of mining engineering, Mr. Michaud has the knowledge to guide the
Companies in its exploration program.

                                       34
<PAGE>
Laurence Stephenson. Mr. Stephenson graduated from Carleton University in 1975
with a Bachelor of Science degree in Geology. In 1985, graduated from York
University with a Masters of Business Administration. He is registered as a
Professional Engineer, P.Eng., for the Province of Ontario (1981). With over 30
years experience in the field of mining exploration, he has the experience to
guide companies through the effective use of financing in their exploration
program. With his business education and experience consulting to the investment
industry for the past 15 years, he has been able to assist companies in
acquiring investment funds.

Mr. Stephenson was instrumental in starting Spirit Lake Explorations in 1985,
Kokanee Explorations Ltd., Glencarin Explorations Ltd. and Wheaton River
Minerals. He assisted in the reorganization of Golden Hemlock Explorations
Strike Minerals Ltd. and several other companies to a lesser degree. All these
companies still remain active.

Gary Haukeland. Mr. Haukeland has been in the real estate business for over 25
years following a number of years with the Royal Bank of Canada and later with
Dunn and Bradstreet. While with the Royal Bank he worked at numerous branches in
management and accounting capacities. At Dun and Bradstreet he held a business
analyst position compiling credit reporting information on private and public
corporations. In 1977 he obtained his real estate pre-licensing accreditation
through the Faculty of Commerce at the University of British Columbia. He is
currently Vice President and Managing Broker of NAI Goddard & Smith, a
commercial real estate firm in Vancouver, British Columbia partnered with 300
offices in 40 countries worldwide with over $25 billion in transactions
annually. Throughout his real estate career he has successfully coordinated a
multitude of complex negotiations. His knowledge and marketing services are
sought by developers, lenders and institutional clients for development
strategies, trends and work out situations. Over the years he has represented
these clients throughout Canada, the United States and Asia.


Bashir Virji. Bashir is experienced chartered accountant with 25+ year's proven
and stable track record in financial management, reporting and controls. This
includes 9+ years in senior positions with a worldwide engineering, procurement
and construction company in the oil and gas industry, 2 years with a publicly
listed land development and housing construction company, and 6+ years in
internal audit of a multi-national manufacturing/civil construction company. He
is currently the Chief Financial Officer of a company in the telecom industry.

                                       35
<PAGE>
Family Relationships

There are no family relationships between any of our directors or executive
officers. None of the other directors and executive officers are related by
blood, marriage or adoption.

Committees of the Board

Audit Committee

Members of our board of directors serve as our Audit Committee.

Nominating Committee

Members of our board of directors serve as our Nominating Committee which
oversees the process by which individuals may be nominated to our board of
directors.

The current size of our board of directors does not facilitate the establishment
of a separate committee. We hope to establish a separate Nominating Committee
consisting of independent directors, if the number of our directors is expanded.

Compensation Committee

We do not have a compensation committee.

Code of Ethics

As of the date of this Annual Report, we have not adopted a Code of Ethics (the
"Code of Ethics") applicable to our principal executive, financial and
accounting officer or persons performing similar functions. We intend to adopt
the Code of Ethics sometime in the second half of calendar 2007.

Compliance with Section 16 of the Exchange Act.

Section 16(a) of the Exchange Act requires our directors, officers and persons
who own more than 10% of a registered class of our equity securities to file
reports of ownership and changes in ownership with the Securities and Exchange
Commission. Directors, officers and greater than 10% shareholders are required
by SEC regulations to furnish us with copies of all Section 16(a) forms they
file. Based solely upon our review of the copies of such forms that we received
during the fiscal year ended April 30, 2007, we believe that each person who at
any time during the fiscal year was a director, officer or beneficial owner of
more than 10% of our common stock complied with all Section 16(a) filing
requirements during such fiscal year.

                                       36
<PAGE>

ITEM 10. EXECUTIVE COMPENSATION

The following table provides certain summary information concerning compensation
awarded to, earned by or paid to our Chief Executive Officer and other named
executive officers and directors of our company whose total annual salary and
bonus exceeded $100,000 (collectively, the "named officers") for the period from
April 30, 2006 to the end of our fiscal year ended April 30, 2007.

                           Summary Compensation Table
<TABLE>
<CAPTION>

                                                                                          Change in
                                                                           Non-Equity     Pension
                                                                            Incentive    Value and Non-
                                                                             Plan          Qualified     All
                                                        Stock      Option   Compens-       Deferred      Other
                                       Salary   Bonus   Awards    Awards     ation        Compensation   Compensation
  Name & Principal Position    Year     ($)       ($)     ($)       ($)       ($)         Earnings ($)   ($) (1)        Total
---------------------------------------------- ------- ------- ----------- ----------- ---------------- ------------- ----------
<S>                            <C>       <C>    <C>      <C>       <C>      <C>           <C>      <C>     <C>      <C>
Earl Hope (1)                  2006     N/A       --      --          --       --             --            --           N/A


Gary Haukeland (4)             2006     N/A       --      --          --       --             --            --           N/A
</TABLE>
(1) Mr. Hope resigned on August 11, 2006 as a member of our board of directors,
our President and CEO. (2) Mr. Haukeland resigned on June 1, 2007 as our
President and CEO.

We do not have either (i) a plan that provides for the payment of retirement
benefits, or benefits that will be paid primarily following retirement,
including but not limited to tax-qualified defined benefit plans, supplemental
executive retirement plans, tax-qualified defined contribution plans and
nonqualified defined contribution plans, nor (ii) any contract, agreement, plan
or arrangement, whether written or unwritten, that provides for payment(s) to
any of our named executive officers at, following, or in connection with the
resignation, retirement or other termination of any of our named executive
officers, or in connection with the change in control of our company or a change
in any of our named executive officers' responsibilities following a change in
control, with respect to each of our named executive officers.

                                       37
<PAGE>
                OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END (1)

The following table sets forth information with respect concerning unexercised
options; stock that has not vested; and equity incentive plan awards for each of
our named executive officers outstanding as of the end of our fiscal year ended
April 30, 2007 and grants of options to purchase our common stock under our
equity compensation plans, if any, to the named executive officers during the
fiscal year ended April 30, 2007. As of April 30, 2007, we have not adopted any
equity compensation plan pursuant to which we may grant equity awards to
eligible persons.
<TABLE>
<CAPTION>
                                      Option Awards                                                Stock Awards
             -------------------------------------------------------------------- --------------------------------------------------
<S>              <C>              <C>            <C>         <C>         <C>        <C>        <C>     <C>       <C>
Name            Number         Number         Equity       Option      Option      Number    Market    Equity    Equity Incentive
                  of             of          Incentive     Exercise   Expiration     of       Value    ncentive     Plan Awards:
              Securities     Securities        Plan        Price        Date       Shares      of       Plan      Market or Payout
              Underlying     Underlying       Awards:       ($)                    or Units   Shares   Awards:        Value
              Unexercised    Unexercised       Number                              of Stock     or      Number         of
               Options        Options           of                                  That      Vnits      of         Unearned
                 (#)            (#)         securities                              Have       of     Unearned       Shares,
              Exercisable    Unexercisable   underlying                              Not      Stock    Shares,      Units or
                                             Unexercised                            Vested     That    Units or      Other
                                             Unearned                               (#)       Have     Other         Rights
                                              Options                                         Not      Rights      That Have
                                                (#)                                          Vested    That           Not
                                                                                               ($)     Have         Vested
                                                                                                       Not            ($)
                                                                                                       Vested
                                                                                                        (#)
------------------------------------------------------------------------------------------------------------------------------------
 N/A
</TABLE>

(1) As permitted under the rules promulgated by the Securities and Exchange
Commission, this table omits columns that are not applicable.

Employment Agreements

We do not have any employment contracts and have not entered into any
termination contracts with any party and there have been no changes in control
arrangements with any party.

                                       38
<PAGE>
Director Compensation

The following table sets forth with respect to each of our directors,
compensation information inclusive of equity awards and payments made in the
fiscal year ended April 30, 2007
<TABLE>
<CAPTION>

                             Directors Compensation

                     Fees Earned    Stock   Option                                                                            Total
                     or Paid in     Awards   Awards    Non-Equity Incentive      Change in Pension Value and      All Other    ($)
                        Cash         ($)     ($)       Plan Compensation           Nonqualified Deferred         Compensation  (h)
Name                    ($)          (c)     d)(1)             ($)                  Compensation Earnings             ($)
(a)                     (b)                                    (e)                             (f)                    (g) (1)
------------------- -------------- -------------------------------------------- ---------------------------------------------------
<S>                  <C>             <C>       <C>           <C>                              <C>                      <C>
Earl Hope                ?           NIL      NIL              NIL                             NIL                    NIL        ?

Luard Mannig
                         ?           NIL      NIL              NIL                             NIL                    NIL        ?
Gary Haukeland
                      $20,000        NIL      NIL              NIL                             NIL                    NIL    $20,000
</TABLE>
(1) With the exception of reimbursement of expenses incurred by our named
executive officers during the scope of their employment, none of the named
executive received any other compensation, perquisites, personal benefits in
excess of $10,000.

Except as set forth above, directors that are non-officers of our company do not
receive a cash retainer annually nor do they receive any remuneration for
attendance at a board meeting, other than reimbursement for travel expenses.

Compensation of Directors

We reimburse our Board of Directors for expenses incurred in connection with
attending board meetings. We have not paid any director's fees or other cash
compensation for services rendered as a director since our inception to April
30, 2007.

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

                                       39
<PAGE>
ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth certain information regarding beneficial
ownership of our common stock as of April 30, 2007 (i) by each person who is
known by us to beneficially own more than 5% of our common stock; (ii) by each
of our officers and directors; and (iii) by all of our officers and directors as
a group.
<TABLE>
<CAPTION>
Name and address of owner        Title of Class         Capacity with Company        Number of Shares Beneficially    Percentage of
                                                                                                Owned                    Class
                                                                                                 (1)
------------------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>                     <C>                              <C>                            <C>
Blair Naughty                   Common Stock            CEO and President                        NIL                      NIL
------------------------------------------------------------------------------------------------------------------------------------
David Michaud                   Common Stock                Director                             NIL                      NIL
------------------------------------------------------------------------------------------------------------------------------------
Laurence Stephenson             Common Stock                Director                             NIL                      NIL
------------------------------------------------------------------------------------------------------------------------------------
Gary Haukeland                  Common Stock                Director                             NIL                      NIL
------------------------------------------------------------------------------------------------------------------------------------
Bashir Virji                    Common Stock         Chief Financial Officer                     NIL                      NIL
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Beneficial ownership set forth above is less than 1%.
(1) Percentage ownership is based upon 75,240,000 shares of common stock
outstanding on April 30, 2007 and is calculated separately for each person on
the basis of the actual number of outstanding shares beneficially owned as of
April 30, 2007 and assumes the conversion of preferred shares held by such
person (but not by anyone else).
(2) Beneficial ownership consists entirely of our common stock.

As of April 30, 2007, we have not adopted any equity compensation plan pursuant
to which we may grant equity awards to eligible persons.

                                       40
<PAGE>
The following table summarizes our equity compensation plan information as of
April 30, 2007

<TABLE>
<CAPTION>
                            Equity Compensation Table

Plan Category(1) Number of Shares to Weighted-Average Number of Shares
                                                                                                               Remaining Available
                                                                                                               for Future Issuance
                                                                                                                   Under Equity
                                                    Be Issued upon                                              Compensation Plans
                                                     Exercise of                   Exercise Price of            (Excluding Shares
                                                     Outstanding                 Outstanding Options,              Reflected in
                                                  Options, Warrants               Warrants and Rights              Column (a))
                                                     and Rights)                          (b)                          (c)
-------------------------------------------- ------------------------------  -------------------------------  ----------------------
<S>                                             <C>                                   <C>                         <C>
Equity Compensation plans approved by
     stockholders                                        N/A                              N/A                             N/A
Equity Compensation plans not approved by
     stockholders                                        N/A                              N/A                             N/A
         Total                                           N/A                              N/A                             N/A
</TABLE>
ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Certain Relationships and Related Transactions with Related Persons, Promoters
and Certain Control Persons

During the year ended April 30, 2007, there have not been any transactions or
proposed transactions to which we were or is are to be a party, in which our
officers, directors or nominees had or are to have a direct or indirect material
interest.

                                       41
<PAGE>
ITEM 13. EXHIBITS

The following exhibits are included herein, except for the exhibits marked with
a footnote, which are incorporated herein by reference and can be found in the
appropriate document referenced.

Exhibit Number Description

(3) (i) Articles of Incorporation; and (ii) Bylaws

3.1 Articles of Incorporation (incorporated by reference from our Form SB-2
    Registration Statement, filed on March 24, 2005).

3.2 Bylaws (incorporated by reference from our Form SB-2 Registration Statement,
    filed on March 24, 2005).

3.3 Certificate of Change (incorporated by reference from our Current Report on
    Form 8-K, filed on March 24, 2006).

(10) Material Contracts

10.1 Purchase and Sale Agreement dated October 22, 2004  (incorporated by
     reference from our Amendment No. 1 on Form SB-2/A  Registration
     Statement, filed on April 28, 2005).

10.2 Letter Agreement dated February 1, 2006 between our company and Nueva
     California S.A. and Primecap  Resources Inc.  (incorporated by
     reference from our Current Report on Form 8-K, filed on February 6, 2006).

10.3 Assignment Agreement dated February 28, 2006 between our company and
     Primecap Resources Inc. (incorporated by reference from our Current
     Report on Form 8-K, filed on March 10, 2006).

10.4 Amending Agreement dated March 15, 2006 between our company and Primecap
     Resources Inc. (incorporated by reference from our Current Report on
     Form 8-K, filed on March 20, 2006).

10.5 Consulting  Agreement dated April 1, 2006 between our company and James
     Sikora (incorporated by reference from our Current Report on Form 8-K,
     filed on April 20, 2006)

10.6 Consulting  Agreement dated April 1, 2006 between our company and Gordon
     Samson (incorporated  by reference from our Current Report on Form 8-K,
     filed on April 20, 2006)

(31) Section 302 Certifications

31.1 Certification of Principal Executive Officer pursuant to Section 302 of the
     Sarbanes-Oxley Act of 2002

31.2 Certification of Principal Financial Officer pursuant to Section 302 of
     the Sarbanes-Oxley Act of 2002


(32) Section 906 Certifications

32.1 Certification of Principal Executive Officer pursuant to 18 U.S.C. Section
     1350, as adopted  pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section
     1350, as adopted  pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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<PAGE>
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

The following is a summary of the fees billed to our company by our principal
accountants for professional services rendered in connection with the fiscal
yearS ended April 30, 2007 and April 30, 2006.

                                         April 30, 2007      April 30, 2006
Fee Type

Audit fees                              $     4,500         $       --
Audit related fees                              --                  --
Registration statement fees                   56,925              19,194
Tax fees                                        --                  --
All other fees                                29,217              32,665
                                        ------------        ------------
Total fees                              $     90,642        $     51,859
                                        ============        ============

Audit fees consist of billings for professional services rendered for the audit
of our company's consolidated financial statements and review of the interim
consolidated financial statements included in quarterly reports that are
normally provided by independent accounting firms in connection with regulatory
filings, including audit services performed related to mergers and acquisitions.

Audit-related fees consists of fees billed for assurance and related services
that are reasonably related to the performance of the audit or review of our
company's consolidated financial statements, which are not reported under "Audit
Fees."

Registration statement fees consist of fees billed to review the Form SB-1
registration statement filed by the Company during 2007.

Tax fees consist of billings for professional services for tax compliance and
tax planning regarding federal and state tax filings.

All other fees consist of fees for products and services other than the services
reported above.

Prior to our engagement of our independent auditor, such engagement was approved
by our board of directors. The services provided under this engagement may
include audit services, audit-related services, tax services and other services.
Pre-approval is generally provided for up to one year and any pre-approval is
detailed as to the particular service or category of services and is generally
subject to a specific budget. Pursuant our requirements, the independent
auditors and management are required to report to our board of directors at
least quarterly regarding the extent of services provided by the independent
auditors in accordance with this pre-approval, and the fees for the services
performed to date. Our board of directors may also pre-approve particular
services on a case-by-case basis. All audit-related fees, tax fees and other
fees incurred by us for the year ended April 30, 2007, were approved by our
board of directors.

                                       43
<PAGE>

                                   SIGNATURES

    Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                                        RAVEN GOLD CORP.


Date: August 13, 2007                   By: /s/ Blair Naughty
                                           -------------------
                                           Blair Naughty
                                           Chief Executive Officer and President





Date: August 13, 2007                   By: /s/  Bashir Virji
                                           ------------------
                                           Bashir Virji
                                           Chief Financial Officer, acting
                                           Principal Financial Officer, and
                                           acting Principal Accounting Officer

 Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.


     Signature                       Title                        Date
---------------------------- -------------------------    ----------------------

/s/ Blair Naughty            Chief Executive Officer      August 13, 2007
------------------------     and President and Director
  Blair Naughty

/s/ David Michaud            Director                     August 13, 2007
------------------------
  David Michaud

/s/ Laurence Stephenson      Director                     August 13, 2007
------------------------
  Laurence Stephenson

/s/ Gary Haukeland           Director                     August 13, 2007
------------------------
Gary Haukeland


                                       44
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