U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                Quarterly Report under Section 12(b) or 12(g) of
                           The Securities Act of 1934


                        For the Period ended May 31, 2007

                        Commission File Number 333-141426


                               ELKO VENTURES INC.
                 (Name of small business issuer in its charter)

        Nevada                                                   20-8425158
(State of incorporation)                                (IRS Employer ID Number)

                                  650 Ruby Way
                            Crescent Valley, NV 89821
                                  (775)201-6669
          (Address and telephone number of principal executive offices)

Check 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 [ ]

Check whether the registrant is an accelerated filer (as defined in Rule 12b-2
of the Exchange Act). Yes [X] No [ ]

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

There were 2,400,000 shares of Common Stock outstanding as of May 31, 2007.
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                                 Balance Sheet
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                   As of                As of
                                                                May 31, 2007      February 28, 2007
                                                                ------------      -----------------
<S>                                                               <C>                  <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                            $  9,728             $  4,485
                                                                  --------             --------
TOTAL CURRENT ASSETS                                                 9,728                4,485
                                                                  --------             --------

      TOTAL ASSETS                                                $  9,728             $  4,485
                                                                  ========             ========

                       LIABILITIES & STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Due to a Director                                               $    300             $     --
                                                                  --------             --------
TOTAL CURRENT LIABILITIES                                              300                   --

TOTAL LIABILITIES                                                      300                   --

STOCKHOLDERS' EQUITY
  Common stock, ($0.001 par value, 75,000,000
   shares authorized; 2,400,000 shares issued and
   outstanding as of May 31, 2007 and February 28, 2007)             2,400                2,400
  Additional paid-in capital                                         9,600                9,600
  Stock Subscriptions Received                                       9,000
  Deficit accumulated during development stage                     (11,572)              (7,515)
                                                                  --------             --------
TOTAL STOCKHOLDERS' EQUITY                                           9,428                4,485
                                                                  --------             --------

      TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                    $  9,728             $  4,485
                                                                  ========             ========
</TABLE>


                       See Notes to Financial Statements

                                       2
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                             Statement of Operations
--------------------------------------------------------------------------------

                                                                February 5, 2007
                                            Three Months          (inception)
                                               ended                through
                                            May 31, 2007          May 31, 2007
                                            ------------          ------------
REVENUES
  Revenues                                  $        --           $        --
                                            -----------           -----------
TOTAL REVENUES                                       --                    --

OPERATIONG EXPENSES
  Mineral Exploration Expense                        --                 7,000
  Office and Administration                       2,057                 2,572
  Professional Fees                               2,000                 2,000
                                            -----------           -----------
TOTAL OPERATING EXPENSES                         (4,057)              (11,572)
                                            -----------           -----------

NET INCOME (LOSS)                           $    (4,057)          $   (11,572)
                                            ===========           ===========

BASIC EARNINGS PER SHARE                    $     (0.00)
                                            ===========
WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING                    2,400,000
                                            ===========


                       See Notes to Financial Statements

                                       3
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                  Statement of Changes in Stockholders' Equity
             From February 5, 2007 (Inception) through May 31, 2007
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                Deficit
                                                                                              Accumulated
                                                       Common    Additional       Stock         During
                                          Common       Stock      Paid-in     Subscriptions   Development
                                          Stock        Amount     Capital       Receivable       Stage         Total
                                          -----        ------     -------       ----------       -----         -----
<S>                                    <C>           <C>         <C>            <C>           <C>           <C>
BALANCE, FEBRUARY 5, 2007                      --     $    --     $    --                      $      --     $     --

Stock issued for cash on February 5,
 2007 @ $0.005 per share                2,400,000       2,400       9,600                                      12,000

Net loss, February 28, 2007                                                                       (7,515)      (7,515)
                                       ----------     -------     -------        -------       ---------     --------

BALANCE, FEBRUARY 28, 2007              2,400,000     $ 2,400     $ 9,600                      $  (7,515)    $  4,485
                                       ==========     =======     =======        =======       =========     ========

Stock Subscription                                                                 9,000

Net loss, May 31, 2007                                                                            (4,057)      (4,057)
                                       ----------     -------     -------        -------       ---------     --------

BALANCE, MAY 31, 2007                   2,400,000     $ 2,400     $ 9,600        $ 9,000       $ (11,572)    $  9,428
                                       ==========     =======     =======        =======       =========     ========
</TABLE>


                       See Notes to Financial Statements

                                       4
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                             Statement of Cash Flows
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                     February 5, 2007
                                                                   Three Months        (inception)
                                                                      ended              through
                                                                   May 31, 2007        May 31, 2007
                                                                   ------------        ------------
<S>                                                                  <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                  $ (4,057)           $(11,572)
  Adjustments to reconcile net loss to net cash
   provided by (used in) operating activities:

  Changes in operating assets and liabilities:
    Increase (Decrease) in Due to a Director                              300                 300
                                                                     --------            --------
          NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES          (3,757)            (11,272)

CASH FLOWS FROM INVESTING ACTIVITIES

          NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES              --                  --

CASH FLOWS FROM FINANCING ACTIVITIES
  Issuance of common stock                                                 --               2,400
  Stock Subscriptions                                                   9,000               9,000
  Additional paid-in capital                                               --               9,600
                                                                     --------            --------
          NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES           9,000              21,000
                                                                     --------            --------

NET INCREASE (DECREASE) IN CASH                                         5,243               9,728

CASH AT BEGINNING OF PERIOD                                             4,485                  --
                                                                     --------            --------
CASH AT END OF PERIOD                                                $  9,728            $  9,728
                                                                     ========            ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during period for:
  Interest                                                           $     --            $     --
                                                                     ========            ========
  Income Taxes                                                       $     --            $     --
                                                                     ========            ========
</TABLE>


                       See Notes to Financial Statements

                                       5
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Elko Ventures Inc. (the Company) was incorporated under the laws of the State of
Nevada on February 5, 2007. The Company was formed to engage in the acquisition,
exploration and development of natural resource properties.

The  Company  is in the  exploration  stage.  Its  activities  to date have been
limited to capital formation, organization and development of its business plan.
The Company has not commenced operations.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. BASIS OF ACCOUNTING

The Company's  financial  statements  are prepared  using the accrual  method of
accounting. The Company has elected a February 28, year-end.

B. BASIC EARNINGS PER SHARE

In February  1997,  the FASB issued SFAS No. 128,  "Earnings  Per Share",  which
specifies the computation, presentation and disclosure requirements for earnings
(loss) per share for entities  with  publicly  held common  stock.  SFAS No. 128
supersedes the provisions of APB No. 15, and requires the  presentation of basic
earnings (loss) per share and diluted earnings (loss) per share. The Company has
adopted the provisions of SFAS No. 128 effective July 10, 2006 (inception).

Basic net loss per share  amounts is computed  by  dividing  the net loss by the
weighted average number of common shares outstanding. Diluted earnings per share
are the same as basic  earnings  per share due to the lack of dilutive  items in
the Company.

C. CASH EQUIVALENTS

The Company considers all highly liquid  investments  purchased with an original
maturity of three months or less to be cash equivalents.

D. USE OF ESTIMATES AND ASSUMPTIONS

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could differ from those estimates. In accordance with FASB 16 all
adjustments are normal and recurring.

                                       6
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

E. INCOME TAXES

Income taxes are provided in accordance  with Statement of Financial  Accounting
Standards No. 109 (SFAS 109),  Accounting for Income Taxes. A deferred tax asset
or liability is recorded for all temporary differences between financial and tax
reporting and net operating loss  carryforwards.  Deferred tax expense (benefit)
results  from  the net  change  during  the  year of  deferred  tax  assets  and
liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of
management,  it is more likely than not that some portion of all of the deferred
tax assets will be realized.  Deferred tax assets and  liabilities  are adjusted
for the effects of changes in tax laws and rates on the date of enactment.

NEW ACCOUNTING PRONOUNCEMENTS:

In November 2004, the Financial  Accounting  Standards  Board (FASB) issued SFAS
151,  Inventory  Costs - an amendment of ARB No. 43,  Chapter 4. This  Statement
amends the guidance in ARB No. 43,  Chapter 4,  "Inventory  Pricing," to clarify
the accounting for abnormal amounts of idle facility expense,  freight, handling
costs,  and  wasted  material  (spoilage).  Paragraph  5 of ARB 43,  Chapter  4,
previously  stated  that  "...  under  some  circumstances,  items  such as idle
facility expense,  excessive spoilage,  double freight, and rehandling costs may
be so  abnormal  as to require  treatment  as current  period  charges..."  This
Statement  requires  that those items be recognized  as  current-period  charges
regardless  of whether they meet the  criterion of "so  abnormal."  In addition,
this Statement  requires that  allocation of fixed  production  overheads to the
costs  of  conversion  be  based  on  the  normal  capacity  of  the  production
facilities.  The  provisions of this Statement will be effective for the Company
beginning  with its fiscal year ending  November 30, 2006.  Management  believes
that the adoption of this Statement will not have any immediate  material impact
on the Company.

In December  2004,  the FASB issued  SFAS No. 152,  "Accounting  for Real Estate
Time-Sharing Transactions--an amendment of FASB Statements No. 66 and 67" ("SFAS
152) The amendments  made by Statement 152 This Statement  amends FASB Statement
No.  66,  Accounting  for  Sales of Real  Estate,  to  reference  the  financial
accounting and reporting guidance for real estate time-sharing transactions that
is  provided in AICPA  Statement  of Position  (SOP)  04-2,  Accounting  No. 67,
Accounting for Costs and Initial Rental  Operations of Real Estate Projects,  to
state that the guidance for (a) incidental  operations and (b) costs incurred to
sell  real  estate   projects  does  not  apply  to  real  estate   time-sharing
transactions.  The accounting  for those  operations and costs is subject to the
guidance in SOP 04-2.  This Statement is effective for financial  statements for
fiscal years beginning after June 15, 2005, with earlier application encouraged.
The Company  believes that the  implementation  of this standard will not have a
material impact on its financial position, results of operations or cash flows.

                                       7
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In December 2004, the FASB issued SFAS 123 (revised 2004) "Share-Based Payment".
This  Statement   requires  that  the  cost   resulting  from  all   share-based
transactions be recorded in the financial statements.  The Statement establishes
fair value as the measurement  objective in accounting for  share-based  payment
arrangements and requires all entities to apply a  fair-value-based  measurement
in accounting for share-based payment transactions with employees. The Statement
also  establishes  fair value as the measurement  objective for  transactions in
which an entity  acquires  goods or services from  non-employees  in share-based
payment transactions. The Statement replaces SFAS 13 "Accounting for Stock-Based
Compensation"  and supersedes APB Opinion No. 25 "Accounting for Stock Issued to
Employees".  The  provisions of this Statement will be effective for the Company
beginning with its fiscal year ending  November 30, 2006.  The Company  believes
that the  implementation of this standard will not have a material impact on its
financial position, results of operations or cash flows.

In March 2005,  the  Securities  and  Exchange  Commission  (SEC)  issued  Staff
Accounting  Bulletin No. 107 (SAB 107) which  provides  guidance  regarding  the
interaction  of SFAS 123 (R) and  certain  SEC  rules and  regulations.  The new
guidance  includes  the  SEC's  view on the  valuation  of  share-based  payment
arrangements  for  public  companies  and may  simplify  some of SFAS 123 (R) `s
implementation  challenges for registrants and enhance the information investors
receive.

In  March  2005,  the FASB  issued  FIN 47,  Accounting  for  Conditional  Asset
Retirement  Obligations,  which  clarifies  that  the  term  `conditional  asset
retirement  obligation'  as used in SFAS 143,  Accounting  for Asset  Retirement
Obligations,  refers  to a legal  obligation  to  perform  an  asset  retirement
activity in which the timing and/or method of settlement  are  conditional  on a
future  event that may or may not be within the  control of the  entity.  FIN 47
requires an entity to recognize a liability  for the fair value of a conditional
asset retirement obligation if the fair value can be reasonably  estimated.  FIN
47 is effective  no later than the end of the fiscal year ending after  December
15, 2005.  The Company does not believe that FIN 47 will have a material  impact
on its financial position or results from operations.

In  August  2005,  the FASB  issued  SFAS  154,  Accounting  Changes  and  Error
Corrections.  This  statement  applies to all  voluntary  changes in  accounting
principle  and  to  changes  required  by an  accounting  pronouncement  if  the
pronouncement does not include specific  transition  provisions,  and it changes
the  requirements   for  accounting  for  and  reporting  them.   Unless  it  is
impractical,  the statement requires retrospective application of the changes to
prior periods' financial statements.  This statement is effective for accounting
changes and  correction of errors made in fiscal year  beginning  after December
15, 2005.

                                       8
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 3. GOING CONCERN

The  accompanying  financial  statements are presented on a going concern basis.
The  Company  had  no  operations  during  the  period  from  February  5,  2007
(inception) to May 31, 2007 and generated a net loss of $11,572.  This condition
raises  substantial  doubt  about the  Company's  ability to continue as a going
concern.  Because  the Company is  currently  in the  exploration  stage and has
minimal expenses,  management believes that the company's current cash of $9,728
is  sufficient  to cover the  expenses  they will incur  during the next  twelve
months in a limited operations scenario or until they raise additional funding.

Management  plans to raise  additional  funds through debt or equity  offerings.
Management's  current plan includes a SB-2 registration  statement with the U.S.
Securities  and Exchange  Commission  of  2,000,000  shares for sale at $.03 per
share to raise capital of $60,000 to implement their business plan.  There is no
guarantee that the Company will be able to raise any capital through this or any
other offerings.

NOTE 4. WARRANTS AND OPTIONS

There are no warrants or options outstanding to acquire any additional shares of
common.

NOTE 5. RELATED PARTY TRANSACTIONS

The Company  neither  owns nor leases any real or personal  property.  Beginning
March 1, 2007 the Company  has been paying a director  $100 per month for use of
office  space and  services.  The  officers  and  directors  of the  Company are
involved in other business activities and may, in the future, become involved in
other business opportunities as they become available.

Thus they may face a conflict in  selecting  between the Company and their other
business  interests.  The Company has not formulated a policy for the resolution
of such conflicts.

Matt Wayrynen and David Wolfin, the officers and directors of the Company,  will
not be paid for any  underwriting  services  that they  perform on behalf of the
Company with respect to the Company's upcoming SB-2 offering. They will also not
receive any  interest on any funds that they advance to the Company for offering
expenses  prior to the  offering  being  closed  which  will be repaid  from the
proceeds of the offering.

                                       9
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 6. INCOME TAXES

                                                              As of May 31, 2007
                                                              ------------------
     Deferred tax assets:
     Net operating tax carryforwards                               $ 11,572
     Other                                                                0
                                                                   --------
     Gross deferred tax assets                                        3,934
     Valuation allowance                                             (3,934)
                                                                   --------

     Net deferred tax assets                                       $      0
                                                                   ========

Realization of deferred tax assets is dependent upon  sufficient  future taxable
income during the period that deductible temporary differences and carryforwards
are expected to be available to reduce  taxable  income.  As the  achievement of
required  future taxable income is uncertain,  the Company  recorded a valuation
allowance.

NOTE 7. NET OPERATING LOSSES

As of May 31,  2007,  the  Company  has a net  operating  loss  carryforward  of
approximately $11,572. Net operating loss carryforward expires twenty years from
the date the loss was incurred.

NOTE 8. STOCK TRANSACTIONS

Transactions,  other than  employees'  stock  issuance,  are in accordance  with
paragraph 8 of SFAS 123. Thus issuances shall be accounted for based on the fair
value of the consideration received. Transactions with employees' stock issuance
are in accordance with paragraphs  (16-44) of SFAS 123. These issuances shall be
accounted for based on the fair value of the consideration  received or the fair
value  of  the  equity   instruments   issued,  or  whichever  is  more  readily
determinable.

On  February 5, 2007 the Company  issued a total of  2,400,000  shares of common
stock to one director for cash at $0.005 per share for a total of $12,000.

As of May 31, 2007 the Company had  2,400,000  shares of common stock issued and
outstanding.

                                       10
<PAGE>
                               ELKO VENTURES INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                  May 31, 2007


NOTE 9. STOCKHOLDERS' EQUITY

The  stockholders'  equity section of the Company contains the following classes
of capital stock as of February 28, 2007:

     *    Common  stock,  $  0.001  par  value:  75,000,000  shares  authorized;
          2,400,000 shares issued and outstanding.

                                       11
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

RESULTS OF OPERATIONS

Our cash in the bank at May 31, 2007 was $9,728. In order to satisfy our cash
requirements we were required to complete our offering of 2,000,000 shares
registered pursuant to our SB-2 Registration Statement which became effective on
April 2, 2007. Subsequent to our May 31, 2007 financials statements, we
completed and closed our SB-2 offering on June 28, 2007 selling a total of
2,000,000 shares at $.03 per share to raise $60,000.

Our plan of operation for the twelve months is to complete the three phases of
the exploration program. In addition to the $50,000 we anticipate spending for
the exploration program as outlined below, we anticipate spending an additional
$10,000 on professional fees, including fees associated with reporting
obligation compliance, and general administrative costs. Total expenditures over
the next 12 months are therefore expected to be approximately $60,000, which is
the amount raised in our offering.

We do not intend to purchase any significant property or equipment, nor incur
any significant changes in employees during the next 12 months. For the period
from inception to February 5, 2007, we had no revenues and incurred net
operating losses of $11,572, consisting of general and administrative expenses
primarily incurred in connection with the preparation and filing of our SB-2
Registration Statement.

Net cash provided by financing activities since inception through May 31, 2007
was $12,000, raised from the private sale of stock to an officer and director.

Our auditors have expressed the opinion that in our current state, there is
substantial doubt about our ability to continue as a going concern.

PLAN OF OPERATION

The following work program has been recommended by the consulting geologist who
prepared the geology report on our property.

PHASE 1

Detailed prospecting, mapping and soil geochemistry.
The estimated cost for this program is all inclusive              $  9,500

PHASE 2

Magnetometer and VLF electromagnetic, grid controlled
surveys over the areas of interest determined by the
Phase 1 survey. Included in this estimated cost is
transportation, accommodation, board, grid installation,
two geophysical surveys, maps and report                            10,500

                                       12
<PAGE>
PHASE 3

Induced polarization survey over grid controlled anomalous
area of interest outlined by Phase 1&2 fieldwork. Hoe or
bulldozer trenching, mapping and sampling of bedrock
anomalies. Includes assays, detailed maps and reports               30,000
                                                                  --------

                                                      Total       $ 50,000
                                                                  ========

Each phase following phase 1 is contingent upon favorable results from the
previous phase.

We plan to commence Phase 1 of the exploration program on the claims in the
summer of 2007. We expect this phase to take 15 days to complete and an
additional one to two months for the consulting geologist to receive the results
from the assay lab and prepare his report.

The above program costs are management's estimates based upon the
recommendations of the professional consulting geologist's report and the actual
project costs may exceed our estimates. To date, we have not commenced
exploration.

Following phase one of the exploration program, if it proves successful in
identifying mineral deposits, we intend to proceed with phase two of our
exploration program. The estimated cost of this program is $10,500 and will take
approximately 10 days to complete and an additional one to two months for the
consulting geologist to receive the results from the assay lab and prepare his
report.

Following phase two of the exploration program, if it proves successful, we
intend to proceed with phase three of our exploration program. The estimated
cost of this program is $30,000 and will take approximately 20 days to complete
and an additional one to two months for the consulting geologist to receive the
results from the assay lab and prepare his report.

We anticipate commencing the second phase of our exploration program in fall
2007 and phase 3 in Spring 2008. We have a verbal agreement with James McLeod,
the consulting geologist who prepared the geology report on our claims, to
retain his services for our planned exploration program. We cannot provide
investors with any assurance that we will be able to raise sufficient funds to
proceed with any work after the exploration program if we find mineralization.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

                                       13
<PAGE>
CRITICAL ACCOUNTING POLICIES

It is suggested that these financial statements be read in conjunction with our
February 28, 2007 audited financial statements and notes thereto, which can be
found in our Form SB-2 Registration Statement on the SEC website at www.sec.gov
under our SEC File Number 333-141426.

The financial statements of the Company have been prepared in accordance with
generally accepted accounting principles in the United States. Because a precise
determination of many assets and liabilities is dependent upon future events,
the preparation of financial statements for a period necessarily involves the
use of estimates which have been made using careful judgement.

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

A. BASIS OF ACCOUNTING

The Company's financial statements are prepared using the accrual method of
accounting. The Company has elected a February 28, year-end.

B. BASIC EARNINGS PER SHARE

In February 1997, the FASB issued SFAS No. 128, "Earnings Per Share", which
specifies the computation, presentation and disclosure requirements for earnings
(loss) per share for entities with publicly held common stock. SFAS No. 128
supersedes the provisions of APB No. 15, and requires the presentation of basic
earnings (loss) per share and diluted earnings (loss) per share. The Company has
adopted the provisions of SFAS No. 128 effective February 5, 2007 (inception).

Basic net loss per share amounts is computed by dividing the net loss by the
weighted average number of common shares outstanding. Diluted earnings per share
are the same as basic earnings per share due to the lack of dilutive items in
the Company.

C. CASH EQUIVALENTS

The Company considers all highly liquid investments purchased with an original
maturity of three months or less to be cash equivalents.

D. USE OF ESTIMATES AND ASSUMPTIONS

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.

                                       14
<PAGE>
Actual results could differ from those estimates. In accordance with FASB 16 all
adjustments are normal and recurring.

E. INCOME TAXES

Income taxes are provided in accordance with Statement of Financial Accounting
Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset
or liability is recorded for all temporary differences between financial and tax
reporting and net operating loss carryforwards. Deferred tax expense (benefit)
results from the net change during the year of deferred tax assets and
liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of
management, it is more likely than not that some portion of all of the deferred
tax assets will be realized. Deferred tax assets and liabilities are adjusted
for the effects of changes in tax laws and rates on the date of enactment.

ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have not identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

                                       15
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing.

Those marked with an asterisk and required to be filed hereunder, are
incorporated by reference and can be found in their entirety in our Form SB-2
Registration Statement, filed under SEC File Number 333-141426, at the SEC
website at www.sec.gov:

     Exhibit
     Number                           Description
     ------                           -----------

       3.1         Articles of Incorporation*
       3.2         Bylaws*
      31.1         Sec. 302 Certification of Principal Executive Officer
      31.2         Sec. 302 Certification of Principal Financial Officer
      32.1         Sec. 906 Certification of Principal Executive Officer
      32.2         Sec. 906 Certification of Principal Financial Officer

                                   SIGNATURES

Pursuant to the requirements of Section 13(a) 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.

July 16, 2007              Elko Ventures Inc., Registrant


                           By: /s/ Matt Wayrynen
                              --------------------------------------------------
                              Matt Wayrynen, President, Chief Executive Officer,
                              Principal Accounting Officer, and Chief Financial
                              Officer & Director

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

July 16, 2007              Elko Ventures Inc., Registrant


                           By: /s/ Matt Wayrynen
                              --------------------------------------------------
                              Matt Wayrynen, President, Chief Executive Officer,
                              Principal Accounting Officer, and Chief Financial
                              Officer & Director

                                       16