UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C.   20549









FORM
10-Q


(Mark
One)





[
      X ]
            QUARTERLY
      REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For the
quarterly period ended   August
31, 2008





[    ]
            TRANSITION
      REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For the
transition period from _____________ to _____________





Commission
file number 000-52796








GURATA
      GOLD, INC.(Exact
      name of registrant as specified in its
charter)








Nevada
            71-1046926(State
      or other jurisdiction of incorporation or
organization)
            (I.R.S.
      Employer Identification No.)11730 NE 107thPlace, Kirkland,
Washington
            98033(Address
      of principal executive offices)
            (Zip
      Code)206-779-5013(Registrant’s
      telephone number, including area code)1403 – 1200 Alberni Street, Vancouver, British
      Columbia, V6E 1A6, Canada(Former name, former address and former fiscal
      year, if changed since last
  report)





Indicate
by check mark whether the registrant (1) filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days.


[
X ]
Yes         [    ]  No





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definitions of “large accelerated filer”,
“accelerated filer” and “smaller reporting company in Rule 12b-2 of the Exchange
Act.





Larger
accelerated
filer                                           [     ]                                                                                            
Accelerated
filer                                                                                    [   
]


Non-accelerated
filer                                                [     ]  (Do not check if a smaller reporting
company)        Smaller reporting
company                                                                
[ X ]





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


[
X ]
Yes         [   ]  No





APPLICABLE
ONLY TO CORPORATE ISSUERS





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





Class
            Outstanding at October 16,
    2008common
      stock - $0.001 par value
            39,000,000








Page
- 1





PART
I – FINANCIAL INFORMATION





Item
1.                      Financial
Statements.








GURATA
GOLD, INC.


(AN
EXPLORATION STAGE COMPANY)


FINANCIAL
STATEMENTS


(UNAUDITED)





AT
AUGUST 31, 2008 AND MAY 31, 2008,


FOR
THE THREE MONTHS ENDED AUGUST 31, 2008 AND 2007


AND
THE PERIOD FROM MAY 26, 2006 (INCEPTION) TO AUGUST 31, 2008







IndexBalance Sheets
            F-1Statements of Operations
            F-2Statements of Cash Flows
            F-3Notes to the Financial Statements
            F-4









Page
- 2




GURATA
GOLD, INC.


(AN
EXPLORATION STAGE COMPANY)
 BALANCE SHEETS


August
      31,
            
            
            May
      31,2008
            
            
            2008(Unaudited
      )ASSETSCurrent
      assets:Cash
            $
            22,456
            
            
            $
            30,200Deposit
      receivable
            
            -
            
            
            
            6,303Prepaid
      expenses
            
            355
            
            
            
            -Total
      assets
            $
            22,811
            
            
            $
            36,503LIABILITIES
      AND STOCKHOLDERS' EQUITYCurrent
      liabilities:Accounts
      payable
            $
            3,175
            
            
            $
            11,460Accrued
      administrative fees
            
            -
            
            
            
            3,675Accrued
      professional fees
            
            16,000
            
            
            
            127Due
      to related party
            
            37
            
            
            
            34Total
      liabilities
            
            19,212
            
            
            
            15,296Commitments
      and contingencies
            
            
            
            
            
            -Stockholders'
      equity:Common
      stock; authorized 75,000,000; $0.001 par value;39,000,000
      shares issued and outstanding atAugust
      31, 2008 and May 31, 2008
            
            39,000
            
            
            
            39,000Additional
      paid in capital
            
            76,250
            
            
            
            76,250Deficit
      accumulated during the exploration stage
            
            (111,651
            )
            
            
            (94,043
            )Total
      stockholders' equity
            
            3,599
            
            
            
            21,207Total
      liabilities and stockholders' equity
            $
            22,811
            
            
            $
            36,503














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





F
- 1




GURATA
GOLD, INC.


(AN
EXPLORATION STAGE COMPANY)


STATEMENTS OF OPERATIONS
 (UNAUDITED)


Three
      Months Ended August 31,
            
            
            From
      May 26, 2006 (Inception)2008
            
            
            2007
            
            
            to
      August 31, 2008Operating
      Expenses:Administrative
      fees
            $
            1,675
            
            
            $
            2,000
            
            
            $
            13,799Bank
      charges and interest
            
            57
            
            
            
            106
            
            
            
            330Consulting
            
            -
            
            
            
            -
            
            
            
            20,500Donated
      rent
            
            -
            
            
            
            -
            
            
            
            2,750Donated
      services
            
            -
            
            
            
            -
            
            
            
            5,500Exploration
      and development
            
            -
            
            
            
            -
            
            
            
            19,342Office
            
            -
            
            
            
            -
            
            
            
            123Professional
      fees
            
            15,873
            
            
            
            10,500
            
            
            
            44,726Regulatory
            
            -
            
            
            
            690
            
            
            
            3,591Impairment
      loss on mineral property costs
            
            -
            
            
            
            -
            
            
            
            1,000Foreign
      exchange gain (loss)
            
            3
            
            
            
            -
            
            
            
            (10
            )Net
      loss for the period
            $
            (17,608
            )
            
            $
            (13,296
            )
            
            $
            (111,651
            )Net
      loss per share:Basic
      and diluted
            $
            (0.00
            )
            
            $
            (0.00
            )Weighted
      average number of shares outstanding:Basic
      and diluted
            
            39,000,000
            
            
            
            22,000,000










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








F
- 2




GURATA
GOLD, INC.


(AN
EXPLORATION STAGE COMPANY)
 STATEMENTS OF CASH FLOWS


Three
      Months
            
            
            
            
            
            From
      May 26, 2006Ended
      August 31,
            
            
            
            
            
            (Inception)
      to2008
            
            
            2007
            
            
            August
      31, 2008Cash
      flow from operating activities:Net
      loss
            $
            (17,608
            )
            
            $
            (13,296
            )
            
            $
            (111,651
            )Adjustments
      to reconcile net loss to net cash used in operating
      activities:Donated
      services and rent
            
            -
            
            
            
            -
            
            
            
            8,250Impairment
      loss on mineral property costs
            
            -
            
            
            
            -
            
            
            
            1,000Changes
      in operating assets and liabilities:Accounts
      receivable
            
            -
            
            
            
            (210
            )
            
            
            -Deposit
      receivable
            
            6,303
            
            
            
            -
            
            
            
            -Prepaid
      expenses
            
            (355
            )
            
            
            -
            
            
            
            (355
            )Accounts
      payable
            
            (8,285
            )
            
            
            (3,490
            )
            
            
            3,175Accrued
      liabilities
            
            -
            
            
            
            500
            
            
            
            -Accrued
      administrative fees
            
            (3,675
            )
            
            
            1,500
            
            
            
            -Accrued
      professional fees
            
            15,873
            
            
            
            2,000
            
            
            
            16,000Due
      to related party
            
            3
            
            
            
            -
            
            
            
            37Net
      cash used in operating activities
            
            (7,744
            )
            
            
            (12,996
            )
            
            
            (83,544
            )Cash
      flows from investing activities:Acquisition
      of mineral properties
            
            -
            
            
            
            -
            
            
            
            (1,000
            )Net
      cash used in investing activities
            
            -
            
            
            
            -
            
            
            
            (1,000
            )Cash
      flows from financing activities:Cash
      from issuance of common stock
            
            -
            
            
            
            -
            
            
            
            107,000Net
      cash provided by financing activities
            
            -
            
            
            
            -
            
            
            
            107,000Net
      (decrease) increase in cash during the period
            
            (7,744
            )
            
            
            (12,996
            )
            
            
            22,456Cash,
      beginning of period
            
            30,200
            
            
            
            15,967
            
            
            
            -Cash,
      end of period
            $
            22,456
            
            
            $
            2,971
            
            
            $
            22,456Supplemental
      disclosure of cash flow information:Cash
      paid during the periodTaxes
            $
            -
            
            
            $
            -
            
            
            $
            -Interest
            $
            -
            
            
            $
            -
            
            
            $
            -











(The
accompanying notes are an integral part of these interim financial
statements)





F
- 3


GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
1 – ORGANIZATION AND BASIS OF PRESENTATION





Nature
of Operations





Gurata
Gold, Inc. (“Gurata”) was incorporated on May 26, 2006, under the laws of the
State of Nevada.  Gurata’s principal business is the acquisition and
exploration of mineral resources in northwestern British Columbia,
Canada.  Gurata has not presently determined whether its properties
contain mineral reserves that are economically recoverable.  In these
notes, the terms “Company”, “we”, “us” or “our” mean Gurata.





Exploration
Stage





These
financial statements and related notes are presented in accordance with
accounting principles generally accepted in the United States of
America.  The Company has not produced any revenues from its principal
business and is an exploration stage company as defined by SEC Industry Guide 7,
and follows Statement of Financial Accounting Standard (SFAS) No. 7, where
applicable.





The
Company is in the early exploration stage.  In an exploration stage
company, management devotes most of its time to conducting exploratory work and
developing its business.  These financial statements have been
prepared on a going concern basis, which implies the Company will continue to
realize its assets and discharge its liabilities in the normal course of
business.  The Company has never paid any dividends and is unlikely to
pay dividends or generate earnings in the immediate or foreseeable
future.  The Company’s continuation as a going concern and its ability
to emerge from the exploration stage with any planned principal business
activity is dependent upon the continued financial support of its shareholders
and its ability to obtain the necessary equity financing and attain profitable
operations.





Basis
of Presentation





The
accompanying unaudited financial statements included herein have been prepared
in accordance with accounting principles generally accepted in the United States
for interim financial information and with the instructions to Form
10-Q.  They do not include all information and notes required by
generally accepted accounting principles for complete financial
statements.  However, except as disclosed herein, there have been no
material changes in the information disclosed in the notes to the financial
statements included on Form 10-KSB of Gurata Gold, Inc. for the year ended May
31, 2008.  In the opinion of management, all adjustments considered
necessary for a fair presentation have been included, and are of a normal
recurring nature.  Operating results for the three months ended August
31, 2008 are not necessarily indicative of the results that may be expected for
any other interim period or the entire year.  For further information,
these unaudited financial statements and the related notes should be read in
conjunction with the Company’s audited consolidated financial statements for the
year ended May 31, 2008, included in the Company’s annual report on Form
10-KSB.





NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





Reclassifications





Certain
prior period amounts in the accompanying financial statements have been
reclassified to conform to the current period’s presentation. These
reclassifications had no effect on the results of operations or financial
position for any period presented.











F
- 4





GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued





Recent
Accounting Pronouncements




On June
1, 2007, the Company adopted Statement of Financial Accounting Standards (SFAS)
No. 157 (SFAS 157), Fair Value
Measurements.  SFAS 157 relates to financial assets and
financial liabilities.  In February 2008, the Financial Accounting
Standards Board (FASB) issued FASB Staff Position (FSP) No. FAS 157-2, Effective Date of FASB Statement No.
157, which delayed the effective date of SFAS 157 for all nonfinancial
assets and nonfinancial liabilities, except those that are recognized or
disclosed at fair value in the financial statements on at least an annual basis,
until January 1, 2009 for calendar year-end entities.  Also in
February 2008, the FASB issued FSP No. FAS 157-1, Application of FASB Statement
No. 157 to FASB Statement No. 13 and Other Accounting Pronouncements That
Address Fair Value Measurements for Purposes of Lease Classification or
Measurement under Statement 13, which states that SFAS No. 13, Accounting for Leases, (SFAS
13) and other accounting pronouncements that address fair value measurements for
purposes of lease classification or measurement under SFAS 13 are excluded from
the provisions of SFAS 157, except for assets and liabilities related to leases
assumed in a business combination that are required to be measured at fair value
under SFAS No. 141, Business
Combinations, (SFAS 141) or SFAS No. 141 (revised 2007), Business Combinations, (SFAS
141(R)).





SFAS 157
defines fair value, establishes a framework for measuring fair value in
accounting principles generally accepted in the United States of America (GAAP),
and expands disclosures about fair value measurements.  The provisions
of this standard apply to other accounting pronouncements that require or permit
fair value measurements and are to be applied prospectively with limited
exceptions.  The adoption of SFAS 157, as it relates to financial
assets and financial liabilities, had no impact on the Company’s financial
statements.





SFAS 157
defines fair value as the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants at
the measurement date.  This standard is now the single source in GAAP
for the definition of fair value, except for the fair value of leased property
as defined in SFAS 13. SFAS 157 establishes a fair value hierarchy that
distinguishes between (1) market participant assumptions developed based on
market data obtained from independent sources (observable inputs) and (2) an
entity’s own assumptions about market participant assumptions developed based on
the best information available in the circumstances (unobservable
inputs).  The fair value hierarchy consists of three broad levels,
which gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1) and the lowest priority to
unobservable inputs (Level 3).  The three levels of the fair value
hierarchy under SFAS 157 are described below:




&
            Level
      1 - Unadjusted quoted prices in active markets that are accessible at the
      measurement date for identical, unrestricted assets or
      liabilities.




&
            Level
      2 - Inputs other than quoted prices included within Level 1 that are
      observable for the asset or liability, either directly or indirectly,
      including quoted prices for similar assets or liabilities in active
      markets; quoted prices for identical or similar assets or liabilities in
      markets that are not active; inputs other than quoted prices that are
      observable for the asset or liability (e.g., interest rates); and inputs
      that are derived principally from or corroborated by observable market
      data by correlation or other means.




&
            Level
      3 - Inputs that are both significant to the fair value measurement and
      unobservable.








F
- 5







GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued





Recent
Accounting Pronouncements, continued





In
September 2006, the FASB issued SFAS 158 (“SFAS 158”), Employers’ Accounting for Defined
Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements
No. 87, 88, 106, and 132(R).  This statement requires an
employer to recognize the over funded or under funded status of a defined
benefit postretirement plan as an asset or liability in its statement of
financial position and to recognize changes in that funded status in the year in
which the changes occur through comprehensive income of a business
entity.  This statement also requires an employer to measure the
funded status of a plan as of the date of its year end statement of financial
position, with limited exceptions.  The Company will be required to
initially recognize the funded status of a defined benefit postretirement plan
and to provide the required disclosures as of the end of the fiscal year ending
after December 15, 2006.  The requirement to measure plan assets and
benefit obligations as of the date of the employer’s fiscal year end statement
of financial position is effective for fiscal years ending after December 15,
2008, or June 1, 2008 for the Company.  We do not have a defined
benefit postretirement plan and thus the Adoption of SFAS 158 did not have a
material impact on our financial statements.





In
February 2007, the FASB issued SFAS No. 159 (SFAS 159), The Fair Value Option for Financial
Assets and Financial Liabilities—Including an amendment of FASB Statement No.
115.  SFAS 159 permits measurement of certain financial assets
and financial liabilities at fair value.  If the fair value option is
elected, the unrealized gains and losses are reported in earnings at each
reporting date.  Generally, the fair value option may be elected on an
instrument-by-instrument basis, as long as it is applied to the instrument in
its entirety.  The fair value option election is irrevocable, unless a
new election date occurs.  SFAS 159 was effective for the Company on
June 1, 2008.  The adoption of SFAS 159 did not have a material impact
on the Company’s financial statements as the Company did not elect the fair
value option for any of its financial assets or liabilities.





In June
2007, the Emerging Issues Task Force (EITF) of the FASB reached a consensus on
Issue No. 07-3, Accounting for
Nonrefundable Advance Payments for Goods or Services Received for Use in Future
Research and Development Activities(EITF 07-3).  EITF 07-3
requires that non-refundable advance payments for goods or services that will be
used or rendered for future research and development activities must be deferred
and capitalized.  As the related goods are delivered or the services
are performed, or when the goods or services are no longer expected to be
provided, the deferred amounts must be recognized as an expense.  This
issue is effective for financial statements issued for fiscal years beginning
after December 15, 2007 and earlier application is not
permitted.  This consensus is to be applied prospectively for new
contracts entered into on or after the effective date.  The Company
adopted EITF 07-03 on June 1, 2008.  The adoption of EITF 07-03 did
not have a material effect on our financial statements.





In March
2008, the FASB, affirmed the consensus of FASB Staff Position (FSP) Accounting
Principles Board Opinion No. 14-1 (APB 14-1), Accounting for Convertible Debt
Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash
Settlement), which applies to all convertible debt instruments that have
a net settlement
feature; which means that such convertible debt instruments, by their
terms, may be settled either wholly or partially in cash upon
conversion.  FSP APB 14-1 requires issuers of convertible debt
instruments that may be settled wholly or partially in cash upon conversion to
separately account for the liability and equity components in a manner
reflective of the issuer’s nonconvertible debt borrowing
rate.  Previous guidance provided for accounting for this type of
convertible debt instrument entirely as debt.  FSP APB 14-1 is
effective for financial statements issued for fiscal years beginning after
December 15, 2008 and interim periods within those fiscal years.  We
do not expect the adoption of FSP APB 14-1 to have a material impact on our
financial statements.








F
- 6







GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued





Recent
Accounting Pronouncements, continued





In May,
2008, FASB issued SFAS No. 162, The Hierarchy of Generally Accepted
Accounting Principles (SFAS 162).  SFAS 162 identifies the
sources of accounting principles and the framework for selecting the principles
used in the preparation of financial statements of nongovernmental entities that
are presented in conformity with generally accepted accounting principles (GAAP)
in the United States (the GAAP hierarchy).  SFAS 162 is effective 60
days following the U.S. Securities and Exchange Commission’s (SEC’s) approval of
the Public Company Accounting Oversight Board amendments to AU Section 411,
The Meaning of Present Fairly
in Conformity With Generally Accepted Accounting
Principles.  The Company is currently reviewing the effect, if
any; the proposed guidance will have on its financial statement
disclosures.





In May,
2008, FASB issued SFAS No. 163, Accounting for Financial Guarantee
Insurance Contracts—an interpretation of FASB Statement No.
60.  Diversity exists in practice in accounting for financial
guarantee insurance contracts by insurance enterprises under FASB Statement No.
60, Accounting and Reporting
by Insurance Enterprises.  That diversity results in
inconsistencies in the recognition and measurement of claim liabilities because
of differing views about when a loss has been incurred under FASB Statement No.
5, Accounting for
Contingencies.  This Statement requires that an insurance
enterprise recognize a claim liability prior to an event of default (insured
event) when there is evidence that credit deterioration has occurred in an
insured financial obligation.  This Statement also clarifies how
Statement 60 applies to financial guarantee insurance contracts, including the
recognition and measurement to be used to account for premium revenue and claim
liabilities.  Those clarifications will increase comparability in
financial reporting of financial guarantee insurance contracts by insurance
enterprises.  This Statement requires expanded disclosures about
financial guarantee insurance contracts.  The accounting and
disclosure requirements of the Statement will improve the quality of information
provided to users of financial statements.  SFAS 163 will be effective
for financial statements issued for fiscal years beginning after December 15,
2008, and interim periods within those fiscal years; disclosure requirements in
paragraphs 30(g) and 31 are effective for the first period (including interim
periods) beginning after May 23, 2008.  We do not expect the adoption
of SFAS 163 to have a significant impact on our financial
statements.





On June
16, 2008, the FASB issued FASB Staff Position No. EITF 03-6-1 (FSP No. EITF
03-6-1), Determining Whether
Instruments Granted in Share-Based Payment Transactions Are Participating
Securities, to address the question of whether instruments granted in
share-based payment transactions are participating securities prior to
vesting.  FSP EITF 03-6-1 indicates that unvested share-based payment
awards that contain rights to dividend payments should be included in earnings
per share calculations.  The guidance will be effective for fiscal
years beginning after December 15, 2008.  The Company is currently
evaluating the requirements of FSP No. EITF 03-6-1 and the impact that its
adoption will have on its results of operations and financial
position.





In June
2008, the FASB issued EITF Issue 07-5 (EITF 07-5), Determining whether an Instrument
(or Embedded Feature) is indexed to an Entity’s Own
Stock.  EITF No. 07-5 is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years.  Early application is not permitted.
Paragraph 11(a) of SFAS No. 133 Accounting for Derivatives and
Hedging Activities, specifies that a contract that would otherwise meet
the definition of a derivative but is both (a) indexed to the Company’s own
stock and (b) classified in stockholders’ equity in the statement of financial
position would not be considered a derivative financial instrument. EITF 07-5
provides a new two-step model to be applied in determining whether a financial
instrument or an embedded feature is indexed to an issuer’s own stock and thus
able to qualify for the SFAS No. 133 paragraph 11(a) scope
exception.  The Company is currently evaluating the impact that
adoption of EITF 07-5 will have on its financial statements.








F
- 7





GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued





Recent
Accounting Pronouncements, continued





In June
2008, FASB released a proposed SFAS, Disclosure of Certain Loss
Contingencies, an amendment of FASB Statements No. 5 and 141 (the proposed Statement), for a
comment period that ended during August 2008.  The proposed Statement
would (a) expand the population of loss contingencies that are required to be
disclosed, (b) require disclosure of specific quantitative and qualitative
information about those loss contingencies, (c) require a tabular reconciliation
of recognized loss contingencies and (d) provide an exemption from disclosing
certain required information if disclosing that information would be prejudicial
to an entity's position in a dispute.  The proposed Statement would be
effective for financial statements issued for fiscal years ending after December
15, 2008, and for interim and annual periods in subsequent fiscal
years.  When and if the proposed Statement is approved in final form
by FASB, the Company will evaluate whether the adoption of the proposed
Statement will have any material impact on its financial position and results of
operations.





NOTE
3 – GOING CONCERN





These
financial statements have been prepared on a going concern basis, which implies
the Company will continue to realize its assets and discharge its liabilities in
the normal course of business.  The Company has not generated any
revenues since inception and has never paid any dividends and is unlikely to pay
dividends or generate earnings in the immediate or foreseeable
future.  The continuation of the Company as a going concern is
dependent upon the continued financial support from its shareholders, the
ability of the Company to obtain necessary equity financing to continue
operations, confirmation of the Company’s interests in the underlying
properties, and the attainment of profitable operations.  The
Company’s ability to achieve and maintain profitability and positive cash flows
is dependent upon its ability to locate profitable mineral properties, generate
revenues from its mineral production and control production
costs.  Based upon current plans, the Company expects to incur
operating losses in future periods.  At August 31, 2008, the Company
had accumulated losses of $111,651 since inception.  These factors
raise substantial doubt regarding the Company’s ability to continue as a going
concern.  There is no assurance that the Company will be able to
generate revenues in the future.  These financial statements do not
give any effect to any adjustments that would be necessary should the Company be
unable to continue as a going concern and therefore be required to realize its
assets and discharge its liabilities in other than the normal course of business
and at amounts different from those reflected in the accompanying financial
statements.





NOTE
4 - RELATED PARTY TRANSACTIONS





All of
the Company’s mineral claims are registered in the name of the director of the
Company and pursuant to a trust agreement are held in trust on behalf of the
Company (see Note 5).





At August
31, 2008 and May 31 2008, the Company was indebted to its director in the
amounts of $37 and $34, respectively.








F
- 8





GURATA GOLD,
INC.


(AN
EXPLORATION STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS


AUGUST
31, 2008





NOTE
5 – UNPROVED MINERAL PROPERTIES





On
December 15, 2006, the Company acquired the Gate 1 mineral claim near Atlin,
British Columbia, Canada, comprising an area of 376.49 hectares for
$1,000.  During the year ended May 31, 2007, the Company determined
that the carrying amount of the mineral property was in excess of its estimated
fair value and recognized an impairment loss on mineral property costs of
$1,000.





The
Company is required to incur approximately $1,500 (CDN$1,505) on or before
February 10, 2009 and approximately $3,000 (CDN$3,012) on or before February 10,
2010 and each year thereafter in exploration expenditures or pay the equivalent
sum in cash in lieu of work, in order to retain title to the claims (see Note
7).





During
the year ended May 31, 2008, the Company paid $1,669 to the Province of British
Columbia and spent $13,697 on exploration.  The Company’s mineral
claims are in good standing until February 10, 2009.





NOTE
6 - COMMON STOCK





On July
11, 2006 and August 23, 2006, the Company issued 3,000,000 and 19,000,000 common
shares respectively, at $0.001 per share for cash of $22,000 to its
director.





On
November 30, 2007, the Company issued 17,000,000 common shares at $0.005 per
share for cash of $85,000.








F
- 9




Item
2.  Management’s Discussion and Analysis of Financial Condition and
Results of Operation.





The
following discussion and analysis should be read in conjunction with the
financial statements and notes thereto as filed in our Annual Report on Form
10-KSB for the year ended May 31, 2008, as well as the financial statements and
notes contained herein.





Forward-Looking
Statements





Some of
the information in this quarterly report on Form 10-Q contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Private Securities Litigation Reform Act of
1995.  All statements other than statements of historical facts
included in this report, including, without limitation, statements regarding our
future financial position, business strategy, budgets, projected costs and plans
and objectives for future operations, are forward-looking
statements.  These statements express, or are based on, our
expectations about future events.  Forward-looking statements give our
current expectations or forecasts of future events.  Forward-looking
statements generally can be identified by the use of forward looking terminology
such as “may,” “will,” “expect,” “intend,” “project,” “estimate,” “anticipate,”
“believe” or “continue” or the negative thereof or similar
terminology.





Although
any forward-looking statements contained in this Form 10-Q or otherwise
expressed by or on behalf of us are, to our knowledge and judgment, believed to
be reasonable, there can be no assurances that any of these expectations will
prove correct or that any of the actions that are planned will be
taken.  Forward-looking statements involve and can be affected by
inaccurate assumptions or by known and unknown risks and uncertainties which may
cause our actual performance and financial results in future periods to differ
materially from any projection, estimate or forecasted result. Important factors
that could cause actual results to differ materially from expected results
include those discussed under the caption “Risk Factors” in our annual report on
Form 10-KSB for the year ended May 31, 2008.  Any of these factors
could cause our actual results to differ materially from the results implied by
these or any other forward-looking statements made by us or on our
behalf.  We cannot assure you that our future results will meet our
expectations.  When you consider these forward-looking statements, you
should keep in mind these factors.  All subsequent written and oral
forward-looking statements attributable to us, or persons acting on our behalf,
are expressly qualified in their entirety by these factors.  Our
forward-looking statements speak only as of the date made.  We assume
no duty to update or revise its forward-looking statements based on changes in
internal estimates or expectations or otherwise.





General





Our
principal business is the acquisition and exploration of mineral resources in
northwestern British Columbia, Canada.  We have not presently
determined whether our properties contain mineral reserves that are economically
recoverable.  We have not commenced significant operations and are
considered an Exploration Stage Company, as defined by SEC Industry Guide 7, and
follows Statement of Financial Accounting Standard (SFAS) No.7 Accounting and Reporting by
Development Stage Enterprises, where applicable.  We have no
operations and if our mineral claims are not successfully developed we will not
earn any revenues.





Gurata
Gold, Inc. means “we”, “us” or “our” and will be referred to as such throughout
the balance of this document.





The
inclusion of supplementary analytical and related information herein may require
us to make appropriate estimates and assumptions to enable us to fairly present,
in all material respects, our analysis of trends and expectations with respect
to our results of operations and financial position taken as a
whole.





Critical
Accounting Policies and Estimates





An
appreciation of our critical accounting policies is necessary to understand our
financial results.  These policies may require that we make difficult
and subjective judgments regarding uncertainties, and as a result, such
estimates may significantly impact our financial results.  The
precision of these estimates and the likelihood of future changes depend on a
number of underlying variables and a range of possible
outcomes.  Other than our accounting for mineral property costs, our
critical accounting policies do not involve the choice between alternative
methods of accounting.  We have applied our critical accounting
policies and estimation methods consistently.




Page
- 12





Unproved
Mineral Property Costs





We have
been in the exploration stage since inception, May 26, 2006 and have not yet
realized any revenues from our planned operations.  We are primarily
engaged in the acquisition and exploration of mining properties.  We
expense mineral property exploration costs as they are
incurred.  Mineral property acquisition costs are initially
capitalized, when incurred, using the guidance in the Emerging Issues Task Force
(EITF) 04-02, Whether Mineral
Rights are Tangible or Intangible Assets.  We assess the
carrying costs for impairment under SFAS No. 144, Accounting for Impairment or
Disposal of Long Lived Assets at each fiscal quarter end.  An
impairment is recognized when the sum of the expected undiscounted future cash
flows is less than the carrying amount of the mineral
property.  Impairment losses, if any, are measured as the excess of
the carrying amount of the mineral property over its estimated fair
value.





On
December 15, 2006, we acquired the Gate 1 mineral claim near Atlin, British
Columbia, Canada, comprising an area of 376.488 hectares for
$1,000.  During the year ended May 31, 2007, we determined that the
carrying amount of the mineral property was in excess of its estimated fair
value and recognized an impairment loss on mineral property costs of
$1,000.  During the year ended May 31, 2008, we spent $13,697 on
exploration.  If these expenditures are accepted as valid exploration
expenditures by the Province of British Columbia, the registration of the Gate 1
Claim will be extended until February 10, 2014.





Once we
have determined that a mineral property can be economically developed, as a
result of establishing proven and probable reserves, the costs then incurred to
develop such property, will be capitalized.  Such costs will be
amortized using the units-of-production method over the estimated life of the
proven and probable reserves.  If mineral properties are subsequently
abandoned or impaired, any capitalized costs will be charged to
operations.





Concentration
of Credit Risk





Financial
instruments that potentially subject us to significant concentrations of credit
risk consist principally of cash deposits.  On August 31, 2008, we had
approximately $22,000 in cash that was not insured.  This cash is on
deposit with a large chartered Canadian bank.  As part of our cash
management process, we perform periodic evaluations of the relative credit
standing of this financial institution.  We have not experienced any
losses in cash balances and we do not believe we are exposed to any significant
credit risk on its cash.





Recent
Accounting Pronouncements





Refer to
Note 2, of our Notes to the Financial Statements filed in our Form 10-K, for a
discussion of our recent accounting standards and pronouncements.  The
following accounting pronouncements were issued or adopted subsequent to May 31,
2008:





On March
1, 2008, we adopted Statement of Financial Accounting Standards (SFAS) No. 157
(SFAS 157), Fair Value
Measurements.  SFAS 157 relates to financial assets and
financial liabilities.  In February 2008, the Financial Accounting
Standards Board (FASB) issued FASB Staff Position (FSP) No. FAS 157-2, Effective Date of FASB Statement No.
157, which delayed the effective date of SFAS 157 for all nonfinancial
assets and nonfinancial liabilities, except those that are recognized or
disclosed at fair value in the financial statements on at least an annual basis,
until January 1, 2009 for calendar year-end entities.  Also in
February 2008, the FASB issued FSP No. FAS 157-1, Application of FASB Statement
No. 157 to FASB Statement No. 13 and Other Accounting Pronouncements That
Address Fair Value Measurements for Purposes of Lease Classification or
Measurement under Statement 13, which states that SFAS No. 13, Accounting for Leases, (SFAS
13) and other accounting pronouncements that address fair value measurements for
purposes of lease classification or measurement under SFAS 13 are excluded from
the provisions of SFAS 157, except for assets and liabilities related to leases
assumed in a business combination that are required to be measured at fair value
under SFAS No. 141, Business
Combinations, (SFAS 141) or SFAS No. 141 (revised 2007), Business Combinations, (SFAS
141(R)).




Page
- 13





SFAS 157
defines fair value, establishes a framework for measuring fair value in
accounting principles generally accepted in the United States of America (GAAP),
and expands disclosures about fair value measurements.  The provisions
of this standard apply to other accounting pronouncements that require or permit
fair value measurements and are to be applied prospectively with limited
exceptions.  The adoption of SFAS 157, as it relates to financial
assets and financial liabilities had no impact on our financial
statements.





SFAS 157
defines fair value as the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants at
the measurement date.  This standard is now the single source in GAAP
for the definition of fair value, except for the fair value of leased property
as defined in SFAS 13. SFAS 157 establishes a fair value hierarchy that
distinguishes between (1) market participant assumptions developed based on
market data obtained from independent sources (observable inputs) and (2) an
entity’s own assumptions about market participant assumptions developed based on
the best information available in the circumstances (unobservable
inputs).  The fair value hierarchy consists of three broad levels,
which gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1) and the lowest priority to
unobservable inputs (Level 3).  The three levels of the fair value
hierarchy under SFAS 157 are described below:




&
            Level
      1 - Unadjusted quoted prices in active markets that are accessible at the
      measurement date for identical, unrestricted assets or
      liabilities.




&
            Level
      2 - Inputs other than quoted prices included within Level 1 that are
      observable for the asset or liability, either directly or indirectly,
      including quoted prices for similar assets or liabilities in active
      markets; quoted prices for identical or similar assets or liabilities in
      markets that are not active; inputs other than quoted prices that are
      observable for the asset or liability (e.g., interest rates); and inputs
      that are derived principally from or corroborated by observable market
      data by correlation or other means.




&
            Level
      3 - Inputs that are both significant to the fair value measurement and
      unobservable.





In
September 2006, the FASB issued SFAS 158 (“SFAS 158”), Employers’ Accounting for Defined
Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements
No. 87, 88, 106, and 132(R).This statement requires an
employer to recognize the over funded or under funded status of a defined
benefit postretirement plan as an asset or liability in its statement of
financial position and to recognize changes in that funded status in the year in
which the changes occur through comprehensive income of a business
entity.  This statement also requires an employer to measure the
funded status of a plan as of the date of its year end statement of financial
position, with limited exceptions.  We are required to initially
recognize the funded status of a defined benefit postretirement plan and to
provide the required disclosures as of the end of the fiscal year ending after
December 15, 2006.  The requirement to measure plan assets and benefit
obligations as of the date of the employer’s fiscal year end statement of
financial position is effective for fiscal years ending after December 15, 2008,
or June 1, 2008 for us.  We do not have a defined benefit
postretirement plan and thus the Adoption of SFAS 158 did not have a material
impact on our financial statements.





In
February 2007, the FASB issued SFAS No. 159 (SFAS 159), The Fair Value Option for Financial
Assets and Financial Liabilities—Including an amendment of FASB Statement No.
115.SFAS 159 permits measurement of certain financial assets and
financial liabilities at fair value.  If the fair value option is
elected, the unrealized gains and losses are reported in earnings at each
reporting date.  Generally, the fair value option may be elected on an
instrument-by-instrument basis, as long as it is applied to the instrument in
its entirety.  The fair value option election is irrevocable, unless a
new election date occurs.  SFAS 159 was effective for us on June 1,
2008.  The adoption of SFAS 159 did not have a material impact on our
financial statements as we did not elect the fair value option for any of our
financial assets or liabilities.





In June
2007, the Emerging Issues Task Force (EITF) of the FASB reached a consensus on
Issue No. 07-3, Accounting for
Nonrefundable Advance Payments for Goods or Services Received for Use in Future
Research and Development Activities(EITF 07-3).  EITF 07-3
requires that non-refundable advance payments for goods or services that will be
used or rendered for future research and development activities must be deferred
and capitalized.  As the related goods are delivered or the services
are performed, or when the goods or services are no longer expected to be
provided, the deferred amounts must be recognized as an expense.  This
issue is effective for financial statements issued for fiscal years beginning
after December 15, 2007 and earlier application is not
permitted.  This consensus is to be applied prospectively for new
contracts entered into on or after the effective date.  We adopted
EITF 07-03 on June 1, 2008.  The adoption of EITF 07-03 did not have a
material effect on our financial statements.




Page
- 14





In March
2008, the FASB, affirmed the consensus of FASB Staff Position (FSP) Accounting
Principles Board Opinion No. 14-1 (APB 14-1), Accounting for Convertible Debt
Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash
Settlement), which applies to all convertible debt instruments that have
a net settlement
feature; which means that such convertible debt instruments, by their
terms, may be settled either wholly or partially in cash upon
conversion.  FSP APB 14-1 requires issuers of convertible debt
instruments that may be settled wholly or partially in cash upon conversion to
separately account for the liability and equity components in a manner
reflective of the issuer’s nonconvertible debt borrowing
rate.  Previous guidance provided for accounting for this type of
convertible debt instrument entirely as debt. FSP APB 14-1 is effective for
financial statements issued for fiscal years beginning after December 15, 2008
and interim periods within those fiscal years.  The adoption of FSP
APB 14-1 is not expected to have a material impact on our financial
statements.





In May,
2008, FASB issued SFAS No. 162, The Hierarchy of Generally Accepted
Accounting Principles (SFAS 162). SFAS 162 identifies the sources of
accounting principles and the framework for selecting the principles used in the
preparation of financial statements of nongovernmental entities that are
presented in conformity with generally accepted accounting principles (GAAP) in
the United States (the GAAP hierarchy).  SFAS 162 is effective 60 days
following the U.S. Securities and Exchange Commission’s (SEC’s) approval of the
Public Company Accounting Oversight Board amendments to AU Section 411, The Meaning of Present Fairly in
Conformity With Generally Accepted Accounting Principles.  We
are currently reviewing the effect, if any, the proposed guidance will have on
our financial statement disclosures.





In May,
2008, FASB issued SFAS No. 163, Accounting for Financial Guarantee
Insurance Contracts—an interpretation of FASB Statement No.
60.  Diversity exists in practice in accounting for financial
guarantee insurance contracts by insurance enterprises under FASB Statement No.
60, Accounting and Reporting
by Insurance Enterprises.  That diversity results in
inconsistencies in the recognition and measurement of claim liabilities because
of differing views about when a loss has been incurred under FASB Statement No.
5, Accounting for
Contingencies.  This Statement requires that an insurance
enterprise recognize a claim liability prior to an event of default (insured
event) when there is evidence that credit deterioration has occurred in an
insured financial obligation.  This Statement also clarifies how
Statement 60 applies to financial guarantee insurance contracts, including the
recognition and measurement to be used to account for premium revenue and claim
liabilities.  Those clarifications will increase comparability in
financial reporting of financial guarantee insurance contracts by insurance
enterprises.  This Statement requires expanded disclosures about
financial guarantee insurance contracts.  The accounting and
disclosure requirements of the Statement will improve the quality of information
provided to users of financial statements.  SFAS 163 will be effective
for financial statements issued for fiscal years beginning after December 15,
2008, and interim periods within those fiscal years; disclosure requirements in
paragraphs 30(g) and 31 are effective for the first period (including interim
periods) beginning after May 23, 2008.  We do not expect the adoption
of SFAS 163 to have a significant impact on our financial
statements.





On June
16, 2008, the FASB issued FASB Staff Position No. EITF 03-6-1 (FSP No. EITF
03-6-1), Determining Whether
Instruments Granted in Share-Based Payment Transactions Are Participating
Securities, to address the question of whether instruments granted in
share-based payment transactions are participating securities prior to
vesting.  FSP EITF 03-6-1 indicates that unvested share-based payment
awards that contain rights to dividend payments should be included in earnings
per share calculations.  The guidance will be effective for fiscal
years beginning after December 15, 2008.  We are currently evaluating
the requirements of FSP No. EITF 03-6-1 and the impact that its adoption will
have on our results of operations and financial position.




Page
- 15








In June
2008, the FASB issued EITF Issue 07-5 (EITF 07-5), Determining whether an Instrument
(or Embedded Feature) is indexed to an Entity’s Own
Stock.  EITF No. 07-5 is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years.  Early application is not
permitted.  Paragraph 11(a) of SFAS No. 133 Accounting for Derivatives and
Hedging Activities, specifies that a contract that would otherwise meet
the definition of a derivative but is both (a) indexed to the Company’s own
stock and (b) classified in stockholders’ equity in the statement of financial
position would not be considered a derivative financial instrument. EITF 07-5
provides a new two-step model to be applied in determining whether a financial
instrument or an embedded feature is indexed to an issuer’s own stock and thus
able to qualify for the SFAS No. 133 paragraph 11(a) scope
exception.  We are currently evaluating the impact that adoption of
EITF 07-5 will have on our financial statements.





In June
2008, FASB released a proposed SFAS, Disclosure of Certain Loss
Contingencies, an amendment of FASB Statements No. 5 and 141) (the proposed Statement), for a
comment period that ended during August 2008.  The proposed Statement
would (a) expand the population of loss contingencies that are required to be
disclosed, (b) require disclosure of specific quantitative and qualitative
information about those loss contingencies, (c) require a tabular reconciliation
of recognized loss contingencies and (d) provide an exemption from
disclosing certain required information if disclosing that information would be
prejudicial to an entity's position in a dispute.  The proposed
Statement would be effective for financial statements issued for fiscal years
ending after December 15, 2008, and for interim and annual periods in subsequent
fiscal years.  When and if the proposed Statement is approved in final
form by FASB, we will evaluate whether the adoption of the proposed Statement
will have any material impact on our financial position and results of
operations.





Overview





Gate
1 Claim





On
December 15, 2006 we purchased the Gate 1 Claim near Atlin, British Columbia,
Canada, comprising an area of 376.488 hectares for $1,000.  The Gate 1
Claim is registered in the name of our director and pursuant to a trust
agreement is held in trust on our behalf.  See Exhibit 10.2 – Trust
agreement for more details.





We are
required to incur approximately $1,400 (CDN$1,505) on or before February 10,
2009 and approximately $2,800 (CDN$3,012) on or before February 10, 2010 and
each year thereafter in exploration expenditures or pay the equivalent sum in
cash in lieu of work to the Province of British Columbia, in order to retain
title to Gate 1 Claim.  At August 31, 2008, we had spent $13,697 on a
helicopter-supported magnetic survey on the Gate 1 Claim.  At August
31, 2008, we had not submitted these exploration expenditures to the Government
of British Columbia for approval.  If these exploration expenditures
are approved by the Government of British Columbia, our unproved mineral
properties will be in good standing until February 10, 2014.





Exploration
Plan





On June
18, 2008, we received an exploration report on a helicopter-supported magnetic
survey on the Gate 1 Claim from our consulting geologist.  The report
recommends prospecting and surveying the Gate 1 Claim.  If the
prospecting is successful in discovering mineralization the report recommends
following up with an IP/resistivity survey in order to verify magnetic anomalies
and help determine the depth of the causative source.





The
following is a brief summary of our three phase exploration
program:





1.
            As
      recommended by our consulting geologist, we plan to conduct the first
      phase of our three phase exploration program starting in June
      2009.  This Phase One exploration program is expected to cost
      approximately $19,800 (CDN$21,000).  A two-person field crew
      will fly to the Gate 1 Claim and will stay for a period of 15
      days.  During this period the crew will generally survey the
      Gate 1 Claim seeking any outcroppings and locating streams.  An
      outcropping is a part of a rock formation that appears above the surface
      of the surrounding land.  The crew will use global positioning
      equipment, take 100 geochemical samples and take 15 rock
      samples.  All samples will be bagged and tagged for location,
      date and time for later analysis.  After this period is over the
      crew will return to Atlin by float
plane.






Page
- 16







2.
            The
      samples obtained during the Phase One exploration program will be analyzed
      at a laboratory and we will review the results of the Phase One
      exploration program in the winter of 2009.  We will engage our
      consulting geologist to interpret the results of Phase One.  It
      is estimated that the analysis and interpretation of results will cost
      approximately $3,500 (CDN$3,700).  If we are able to identify
      favorable rock formations and structures with elevated metal values we
      will plan and conduct a Phase Two
program.





3.
            If
      the Phase Two program were to proceed, our consulting geologist has
      indicated that we should budget approximately $56,500 (CDN$60,000) for our
      Phase Two program.  If we proceed with our Phase Two program we
      would do so in July 2010.  A small crew will fly to the Gate 1
      Claim and will stay for a period of time to be
      determined.  During this period the crew will continue with
      Phase One field work including additional sampling and mapping,
      magnetometer survey, trenching and a small number of diamond drill
      holes.  All samples will be bagged and tagged for location, date
      and time for later analysis. After this period is over the crew will
      return to Atlin by float plane.





4.
            In
      the case that the Phase Two exploration program takes place, we will
      review the results in winter 2010.  If we are able to continue
      to confirm elevated metal values at specific hand drilled targets we will
      consider Phase Two a success and will plan for a Phase Three exploration
      program.  The Phase Three exploration program is expected to
      cost at least $225,900 (CDN$240,000).  At this stage, we would
      seek to link with a major resource company in a joint venture relationship
      in recognition of financing requirements.  If we proceed with
      Phase Three of our exploration plan we would commence in July
      2011.





On August
31, 2008, we had cash of approximately $22,000.  We will have to raise
additional funds to cover our operating costs and commence Phase One of our
mineral exploration program.





During
the next 12 months, we do not anticipate generating any revenue.  If
we require additional funds, we anticipate this additional funding will come
from equity financing from the sale of our common stock, private loans or
advances or the sale of part of our interest in the Gate 1 Claim.  If
we are successful in completing an equity financing, existing shareholders will
experience dilution of their interest.  We do not have any financing
arranged and cannot provide investors with any assurance that we will be able to
raise sufficient funding from the sale of our common stock or obtain private
loans or advances to fund our mineral exploration program.  In the
absence of such financing, our business will fail.





We may
consider entering into a joint venture partnership by linking with a major
resource company to provide the required funding to complete our Phase Three
exploration program.  We have not undertaken any efforts to locate a
joint venture partner for Phase Three.  If we enter into a joint
venture arrangement, we will assign a percentage of our interest in the Gate 1
Claim to the joint venture partner.




Based on
the nature of our business, we anticipate incurring operating losses in the
foreseeable future.  We base this expectation, in part, on the fact
that very few mineral claims in the exploration stage ultimately develop into
producing, profitable mines.  Our future financial results are also
uncertain due to a number of factors, some of which are outside our
control.  These factors include, but are not limited to:





&
            our
      ability to raise additional
funding;


&
            the
      market price for gold;


&
            the
      results of our proposed exploration programs on the Gate 1 Claim;
      and


&
            our
      ability to find joint venture partners for the development of our property
      interests.





Accounting
and Audit Plan





We intend
to continue to have our outside consultant assist in the preparation of our
quarterly and annual financial statements and have these financial statements
reviewed or audited by our independent auditor.  Our outside
consultant is expected to charge us approximately $1,500 to prepare the
quarterly financial statements and $3,500 to prepare the annual financial
statements.  Our independent auditor is expected to charge us
approximately $1,500 to review the quarterly financial statements, $7,000 to
audit the annual financial statements and $1,000 to prepare our corporate and
state income tax returns.  In the next 12 months, we anticipate
spending approximately $21,000 to pay for our accounting and audit
requirements.




Page
- 17





Functional
Currency





Our
functional currency is the United States dollar.  We have determined
that our functional currency is the United States dollar for the following
reasons:





●  our
current and future financings are and will be in United States
dollars;


●  we
maintain the majority of our cash holdings in United States
dollars;


●  any
potential sales of gold recovered from the Gate 1 Claim will be undertaken in
United States   dollars;


●  the
majority of our administrative expenses are undertaken in United States
dollars;


●  all
cash flows are generated in United States dollars; and


&  the
      Gate 1 Claim is located in Canada, and even though the exploration
      expenses are estimated in Canadian dollars, these expenses can usually be
      requested to be billed in United States dollars&





Results
of Operations – Three Months Ended August 31, 2008 and 2007





Our
operating results for the three months ended August 31, 2008 and 2007 and the
changes between those periods for the expenses are summarized as
follows:





For
      the Three Months Ended August 31,
            Increase
      (Decrease)
              Between
      the Three Months Ended August 31, 2008 and August 31,
  20072008
            
            2007Administrative
      expenses
            $
            1,675
            $
            2,000
            $
            (325)Bank
      charges and interest
            
            57
            
            106
            
            (49)Professional
      fees
            
            15,873
            
            10,500
            
            5,373Regulatory
            
            -
            
            690
            
            (690)Foreign
      exchange gain
            
            3
            
            -
            
            3$
            17,608
            $
            13,296
            $
            4,312





During
the three months ended August 31, 2008, we had a net loss of $17,608 compared to
a net loss of $13,296 for the three months ended August 31, 2007.  Our
$4,312 increase in net loss was primarily due to an increase in professional
fees associated with regulatory compliance.





Over the
next 12 months, we do not anticipate generating any revenue and we expect our
operating losses to be approximately $65,000.  We plan to continue to
fund Phase One of our mineral exploration program and our operations through
equity financing from the sale of our shares of common stock, private advances
or through the sale of a part interest in the Gate 1 Claim.  We do not
have any financing arranged and cannot provide any assurance that we will be
able to raise sufficient funding from the sale of our shares of common stock,
that we will receive private advances or that we will be able to sell a part
interest in the Gate 1 Claim.  Although we have not attempted to
locate a joint venture partner, if we enter into a joint venture arrangement, we
would assign a percentage of our interest in the Gate 1 Claim to our joint
venture partner.




Page
- 18





Liquidity
and Capital Resources





At August
31, 2008, we had a cash balance of $22,456 and negative cash flows from
operations of $7,744.  During the three months ended August 31, 2008,
we funded our operations with cash that we received from the sale of common
stock in prior quarters.





Going
Concern





Due to
lack of operating history and present inability to generate revenues, our
auditors have stated in their opinion that there currently exists substantial
doubt about our ability to continue as a going concern.  Even if we
complete our current exploration program and we are successful in identifying a
mineral deposit, we will have to spend substantial funds on further drilling and
engineering studies before we will know if we have a commercially viable mineral
deposit or reserve.





The notes
to our financial statements as of August 31, 2008 disclose our uncertain ability
to continue as a going concern.  We have not and do not expect to
generate any revenues to cover our expenses while we are in the exploration
stage and as a result we have accumulated a deficit of $111,651 since
inception.  At August 31, 2008, we had $19,212 in current liabilities,
when our current liabilities are offset against our current assets of $22,811 we
are left with working capital $3,599.  Our ability to achieve and
maintain profitability and positive cash flows is dependent upon our ability to
locate profitable mineral properties, generate revenues from our mineral
production and control production costs.  Based upon current plans, we
expect to incur operating losses in future periods.  These factors
raise substantial doubt regarding our ability to continue as a going
concern.  There is no assurance that we will be able to generate
revenues in the future.  Our financial statements do not give effect
to any adjustments that would be necessary should we be unable to continue as a
going concern and therefore be required to realize our assets and discharge our
liabilities in other than the normal course of business and at amounts different
from those reflected in the accompanying financial statements.  While
we have successfully generated sufficient working capital through the sale of
common stock to the date of this filing and we believe that we can continue to
do so for the next year, there are no assurances that we will succeed in
generating sufficient working capital through the sale of our common stock to
meet our ongoing cash needs.








For
      the Three Months Ended August 31,2008
            
            2007Net
      cash used in operating activities
            $
            (7,744)
            $
            (12,996)Net
      cash provided by investing activities
            
            -
            
            -Net
      cash provided by financing activities
            
            -
            
            -Net
      decrease in cash
            $
            (7,744)
            $
            (12,966)





Net
Cash Used in Operating Activities





Net cash
used in operating activities during the three months ended August 31, 2008
compared to the three months ended August 31, 2007 decreased by
$5,252.  This decrease was primarily related to an increase in our
accruals and partial refund of a deposit we paid for our helicopter-supported
magnetic survey.





Net
Cash Used in Investing Activities





We did
not have any investing activities during the three months ended August 31, 2008
and 2007.





Net
Cash Provided By Financing Activities





We did
not have any financing activities during the three months ended August 31, 2008
and 2007.




Page
- 19








Off-Balance
Sheet Arrangements





We have
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, revenue or expenses, results of operations, liquidity, capital
expenditures or capital resources that are material to our
investors.  We do not have any non-consolidated, special-purpose
entities.





Internal
and External Sources of Liquidity





To date,
we have funded our operations from the sale of our common stock.





Foreign
Exchange





We are
subject to foreign exchange risk for transactions denominated in foreign
currencies.  Foreign currency risk arises from the fluctuation of
foreign exchange rates and the degree of volatility of these rates relative to
the United States dollar.  We do not believe that we have any material
risk due to foreign currency exchange.





Inflation





We do not
believe that inflation will have a material impact on our future
operations.





Item
3.  Quantitative and Qualitative Disclosures About Market
Risk.





Gurata is
a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and is
not required to provide the information required under this item.





Item
4.  Controls and Procedures.





Disclosure Controls and
Procedures





Disclosure
controls and procedures are designed to ensure that information required to be
disclosed in the reports filed or submitted under the Exchange Act is recorded,
processed, summarized and reported, within the time period specified in the
SEC’s rules and forms.  Disclosure controls and procedures include,
without limitation, controls and procedures designed to ensure that information
required to be disclosed in the reports filed under the Exchange Act is
accumulated and communicated to management, including Shaun P. Davis, Gurata’s
Chief Executive Officer and Chief Financial Officer, to allow timely decisions
regarding required disclosure.





Mr. Davis
has evaluated the effectiveness of the design and operation of Gurata’s
disclosure controls and procedures (as such term is defined in Rules 13a-15 and
15d-15 under the Securities Exchange Act of 1934 (the “Exchange Act”)) as of the end
of the period covered by this quarterly report (the “Evaluation
Date”).  Based on such evaluation, Mr. Davis has concluded
that, as of the Evaluation Date, Gurata’s disclosure controls and procedures are
effective to ensure that information required to be disclosed in the reports
Gurata files and submits under the Exchange Act is recorded, processed,
summarized and reported as and when required.





Changes in Internal
Controls





During
the last fiscal quarter covered by this report, there were no changes in
Gurata’s internal controls or, to Gurata’s knowledge, in other factors that have
materially affected, or are reasonably likely to materially affect, these
controls and procedures subsequent to the Evaluation Date.





Management’s Report on
Internal Controls over Financial Reporting





Gurata is
a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and is
not required to provide the information required under this item.




Page
- 20





PART
II – OTHER INFORMATION





Item
1.  Legal Proceedings.





Gurata is
not a party to any pending legal proceedings and, to the best of Gurata’s
knowledge, none of Gurata’s property or assets are the subject of any pending
legal proceedings.





Item
1A.  Risk Factors.





Gurata is
a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and is
not required to provide the information required under this item.





Item
2.  Unregistered Sales of Equity Securities and Use of
Proceeds.





During
the quarter of the fiscal year covered by this report, (i) Gurata did not modify
the instruments defining the rights of its shareholders, (ii) no rights of any
shareholders were limited or qualified by any other class of securities, and
(iii) Gurata did not sell any unregistered equity securities.





On
September 6, 2007, the Securities and Exchange Commission declared Gurata’s Form
SB-2 Registration Statement effective, file number 333-145498, which permitted
Gurata to offer up to 20,000,000 shares of common stock at $0.005 per
share.  There was no underwriter involved in this public
offering.  Gurata accepted 27 subscription agreements for a total of
$85,000 to date.  The offering period for the public offering expired
on March 3, 2008.





Gurata
spent $12,764 of the proceeds on the offering expenses, which included $4,574 on
legal and registration fees, $6,000 on accounting and auditing fees, $1,190 on
electronic filing and printing fees, and $1,000 on transfer agent
fees.  The net proceeds to Gurata after deducting the offering
expenses were $72,236.





As of
August 31, 2008, Gurata had spent a total of $52,297 of the net
proceeds.  Gurata spent $13,697 of the net proceeds on a
helicopter-supported magnetic survey on the Gate 1 Claim.  In
addition, Gurata also spent a total of $38,600 of the net proceeds of the
working capital, which included $5,000 on consulting fees, $13,500 in legal
fees, $12,500 on administration fees, $4,500 in audit fees, $1,700 on mineral
title costs, $1,000 in tax preparation fees, and $400 in regulatory and filing
fees.  The $61 spent in excess of the net proceeds was part of
Gurata’s general working capital.





Gurata
intends to spend $20,000 of the net proceeds on its Phase One Exploration
program in June 2009 with the balance of the proceeds to be used for working
capital.





The
reason for the material change in the use of proceeds from what was described in
Gurata’s Registration Statement was because Gurata’s consulting geological
technician recommended the helicopter-supported magnetic survey on the Gate 1
Claim in order to gather more information on the Gate 1 Claim to identify
specific target areas for the rock sampling program in the Phase One Exploration
program.





Item
3.  Defaults Upon Senior Securities.





During
the quarter of the fiscal year covered by this report, no material default has
occurred with respect to any indebtedness of Gurata.  Also, during
this quarter, no material arrearage in the payment of dividends has
occurred.





Item
4.  Submission of Matters to a Vote of Security Holders.





No matter
was submitted to a vote of security holders through the solicitation of proxies
or otherwise, during the quarter of the fiscal year covered by this
report.




Page
- 21





Item
5.  Other Information.





During
the quarter of the fiscal year covered by this report, Gurata reported all
information that was required to be disclosed in a report on Form
8-K.





Item
6.  Exhibits





(a)
            Index
      to and Description of Exhibits





All
Exhibits required to be filed with the Form 10-Q are incorporated by reference
to Gurata’s documents previously filed with the SEC.





Exhibit
            Description
            Status3.1
            Articles
      of Incorporation, filed as an exhibit to Gurata’s registration statement
      on Form SB-2 filed on August 16, 2007, and incorporated herein by
      reference.
            Filed3.2
            By-Laws,
      filed as an exhibit to Gurata’s registration statement on Form SB-2 filed
      on August 16, 2007, and incorporated herein by reference.
            Filed10.1
            Property
      agreement dated December 15, 2006 between Kenneth Ralfs and Feliberto
      Gurat as Trustee for Gurata, filed as an exhibit to Gurata’s registration
      statement on Form SB-2 filed on August 16, 2007, and incorporated herein
      by reference.
            Filed10.2
            Trust
      agreement dated January 17, 2007, filed as an exhibit to Gurata’s
      registration statement on Form SB-2 filed on August 16, 2007, and
      incorporated herein by reference.
            Filed14
            Financial
      Code of Ethics, filed as an exhibit to Gurata’s registration statement on
      Form SB-2 filed on August 16, 2007, and incorporated herein by
      reference.
            Filed31
            Certifications pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.
            Included32
            Certification pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.
            Included








SIGNATURES





In
accordance with the requirements of the Securities Exchange Act of 1934, Gurata
Gold, Inc. has caused this report to be signed on its behalf by the undersigned
duly authorized person.











GURATA
GOLD, INC.










Dated:                      October 17,
2008                                               By:/s/ Shaun P.
Davis


Name: Shaun P. Davis


Title:   CEO and CFO


(Principal
Executive Officer,


Principal Financial
Officer,


and Chief Accounting
Officer)








Page
- 22








Exhibit
31














Page
- 23




GURATA
GOLD, INC.


CERTIFICATIONS
PURSUANT TO


SECTION
302 OF THE SARBANES-OXLEY ACT OF 2002






CERTIFICATION






I, Shaun
P. Davis, certify that:




1.  I
have reviewed this quarterly report on Form 10-Q for the quarter ending August
31, 2008 of Gurata Gold, Inc.;




2.  Based
on my knowledge, this quarterly report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this
report;




3.  Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;




4.
 The registrant’s other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:




(a)
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;




(b)
Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;




(c)
Evaluated the effectiveness of the registrant’s disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and




(d)
Disclosed in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent fiscal
quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and




5.  The
registrant’s other certifying officers and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the
registrant’s auditors and the audit committee of the registrant’s board of
directors (or persons performing the equivalent functions):




(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant’s ability to record, process, summarize and
report financial information; and




(b) Any
fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant’s internal control over financial
reporting.






Date:  October
17, 2008






/s/
Shaun P. Davis


Shaun P.
Davis


Chief
Executive Officer




Page
- 24




GURATA
GOLD, INC.


CERTIFICATIONS
PURSUANT TO


SECTION
302 OF THE SARBANES-OXLEY ACT OF 2002






CERTIFICATION






I, Shaun
P. Davis, certify that:




1.  I
have reviewed this quarterly report on Form 10-Q for the quarter ending August
31, 2008 of Gurata Gold, Inc.;




2.  Based
on my knowledge, this quarterly report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this
report;




3.  Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;




4.
 The registrant’s other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:




(a)
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;




(b)
Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;




(c)
Evaluated the effectiveness of the registrant’s disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and




(d)
Disclosed in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent fiscal
quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and




5.  The
registrant’s other certifying officers and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the
registrant’s auditors and the audit committee of the registrant’s board of
directors (or persons performing the equivalent functions):




(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant’s ability to record, process, summarize and
report financial information; and




(b) Any
fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant’s internal control over financial
reporting.






Date:  October
17, 2008






/s/
Shaun P. Davis


Shaun P.
Davis


Chief
Financial Officer




Page
- 25








Exhibit
32










Page
- 26


CERTIFICATION
PURSUANT TO


18
U.S.C. SECTION 1350,


AS
ADOPTED PURSUANT TO


SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002













In
connection with the Quarterly Report of Gurata Gold, Inc. (the “Company”) on
Form 10-Q for the period ending August 31, 2008 as filed with the Securities and
Exchange Commission on the date hereof (the “Report”), I, Shaun P. Davis,
President, Chief Executive Officer of the Company and a member of the Board of
Directors, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002, that:






(1)  The
      Report fully complies with the requirements of section 13(a) or 15(d) of
      the Securities Exchange Act of 1934;
and






(2)  The
      information contained in the Report fairly presents, in all material
      respects, the financial condition and results of operations of the
      Company.













/s/
Shaun P. Davis


Shaun P.
Davis


Chief
Executive Officer






October
17, 2008




Page
- 27






CERTIFICATION
PURSUANT TO


18
U.S.C. SECTION 1350,


AS
ADOPTED PURSUANT TO


SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002









In
connection with the Quarterly Report of Gurata Gold, Inc. (the “Company”) on
Form 10-Q for the period ending August 31, 2008 as filed with the Securities and
Exchange Commission on the date hereof (the “Report”), I, Shaun P. Davis, Chief
Financial Officer of the Company and a member of the Board of Directors,
certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that:






(1)  The
      Report fully complies with the requirements of section 13(a) or 15(d) of
      the Securities Exchange Act of 1934;
and






(2)  The
      information contained in the Report fairly presents, in all material
      respects, the financial condition and results of operations of the
      Company.











/s/
Shaun P. Davis


Shaun P.
Davis


Chief
Financial Officer






October
17, 2008







Page
- 28