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

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

| Nevada                                                     |           | 74-3207792             |
|------------------------------------------------------------|----------------|------------------------|
| (State or Other Jurisdiction of                            |           | (I.R.S. Employer       |
| Incorporation or Organization)                             |           | Identification Number) |
|                                                       |           |                   |
| 7047 East Greenway Parkway, #250Scottsdale, AZ        |           | 85254                  |
| (Address of Principal Executive Offices)                   |           | (Zip Code)             |
|                                                       | (888) 356-4942 |                   |
| (Registrant’s telephone number, including area code) |

|   | YES  x |   | NO   ̈ |
|--------|------------------|--------|----------------------|

|   | YES   ̈ |   | NO   ̈ |
|--------|-----------------------|--------|----------------------|

|  ̈ |  Large accelerated filer |  ̈ |  Accelerated filer |  ̈ |  Non-accelerated filer (Do not check if smaller reporting company) | x |  Smaller reporting company |
|--------|-------------------------------|--------|-------------------------|--------|------------------------------------------------------------------------------|---|---------------------------------|

|   | YES   ̈ |   | NO  x |
|--------|-----------------------|--------|-----------------|

| Class                         |   | Outstanding at April 14,2011 |
|-------------------------------|--------|------------------------------|
| Common stock, $.001 par value |   | 84,699,200                   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | PAGE   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| PART I—FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 1.  Financial Statements                                                                                                                                                                                         |   | 1      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Condensed Balance Sheets as of February 28, 2011 (Unaudited) and August 31, 2010 (Audited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 1      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Condensed Statements of Operations for the three and six month periods ended February 28, 2011 and 2010 and for the period from January 18, 2007 (inception) to February 28, 2011 (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Condensed Statements of Cash Flows for the six month periods ended February 28, 2011 and 2010 and for the period from January 18, 2007 (inception) to February 28, 2011 (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 3      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Notes to Financial Statements                                                                                                                                                                                                   |   | 4      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                                                                                                                                   |   | 20     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 4.  Controls and Procedures                                                                                                                                                                                      |   | 20     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| PART II—OTHER INFORMATION                                                                                                                                                                                                 |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 1.  Legal Proceedings                                                                                                                                                                                            |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 1A.  Risk Factors                                                                                                                                                                                                |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                  |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 3.  Defaults Upon Senior Securities                                                                                                                                                                              |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 4.  Removed and Reserved                                                                                                                                                                                         |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 5.  Other Information                                                                                                                                                                                            |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Item 6.  Exhibits                                                                                                                                                                                                     |   | 22     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Signature Page                                                                                                                                                                                                                  |   | 23     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Certifications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |
| Exhibit 31.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| Exhibit 31.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| Exhibit 32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |

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|                                                              |   | As at28 February2011 |       |   | As at31 August 2010(Audited) |   |
|-------------------------------------------------------------------|--------|----------------------|------------|--------|------------------------------|--------|
|                                                              |   |                 | $          |   |                         |   | $ |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| Assets                                                            |   |                 |       |   |                         |   |   |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| Current                                                           |   |                 |       |   |                         |   |   |   |
| Cash and cash equivalents                                         |   |                 | 885        |   |                         |   | 201,068 |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| Mineral properties (Note 2 and 3)                                 |   |                 | 25,000     |   |                         |   | 1,194,575 |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| TOTAL ASSETS                                                      |   |                 | 25,885     |   |                         |   | 1,395,643 |   |
| Liabilities                                                       |   |                 |       |   |                         |   |   |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| Current                                                           |   |                 |       |   |                         |   |   |   |
| Accounts payable and accrued liabilities (Note 4 and 5)           |   |                 | 230,172    |   |                         |   | 244,905 |   |
| Payable for mineral property                                      |   |                 | -          |   |                         |   | 525,000 |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| TOTAL LIABILITIES                                                 |   |                 | 230,172    |   |                         |   | 769,905 |   |
| Stockholders’ deficiency                                    |   |                 |       |   |                         |   |   |   |
| Common stock (Note 7)                                             |   |                 |       |   |                         |   |   |   |
| Authorized                                                        |   |                 |       |   |                         |   |   |   |
| 500,000,000 common shares, par value $0.001                       |   |                 |       |   |                         |   |   |   |
| Issued and outstanding                                            |   |                 |       |   |                         |   |   |   |
| 28 February 2011 – 83,199,200 common shares                 |   |                 |       |   |                         |   |   |   |
|    31 August 2010 – 76,799,200 common shares |   |                 | 83,199     |   |                         |   | 76,799 |   |
| Capital in excess of par value                                    |   |                 | 1,954,980  |   |                         |   | 1,490,146 |   |
| Subscription received                                             |   |                 | 130,000    |   |                         |   | - |   |
| Common stock to be issued                                         |   |                 | 4,000      |   |                         |   | - |   |
| Deficit accumulated during exploration stage                      |   |                 | (2,376,466 | )      |                         |   | (941,207 | ) |
|                                                              |   |                 |       |   |                         |   |   |   |
| TOTAL STOCKHOLDERS’ DEFICIENCY                              |   |                 | (204,287   | )      |                         |   | 625,738 |   |
|                                                              |   |                 |       |   |                         |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY              |   |                 | 25,885     |   |                         |   | 1,395,643 |   |

----

----

|                                                         |   | For thethree month period ended 28 February2011 |       |   | For thethree month period ended 28 February2010 |   |       | For thesix month period ended 28 February2011 |   |   | For thesix month period ended 28 February2010 |   |   | For the period from the date of inception on 18 January 2007 to 28 February 2011 |       |
|--------------------------------------------------------------|--------|-------------------------------------------------|------------|--------|-------------------------------------------------|--------|------------|-----------------------------------------------|--------|--------|-----------------------------------------------|--------|--------|----------------------------------------------------------------------------------|------------|
|                                                         |   |                                            | $          |   |                                            |   | $          |                                          |   |   | $                                             |   |   |                                                                             | $          |   |   |   | $ |   |
|                                                         |   |                                            |       |   |                                            |   |       |                                          |   |   |                                          |   |   |                                                                             |       |   |   |   |   |   |
| Expenses                                                     |   |                                            |       |   |                                            |   |       |                                          |   |   |                                          |   |   |                                                                             |       |   |   |   |   |   |
| Accounting and audit                                         |   |                                            | 18,643     |   |                                            |   | 15,850     |                                          |   |   | 42,993                                        |   |   |                                                                             | 26,350     |   |   |   | 118,419 |   |
| Advertising and promotion                                    |   |                                            | -          |   |                                            |   | -          |                                          |   |   | 970                                           |   |   |                                                                             | -          |   |   |   | 970 |   |
| Bank charges                                                 |   |                                            | 695        |   |                                            |   | 439        |                                          |   |   | 1,571                                         |   |   |                                                                             | 484        |   |   |   | 3,128 |   |
| Consulting                                                   |   |                                            | 52,500     |   |                                            |   | 30,000     |                                          |   |   | 100,000                                       |   |   |                                                                             | 45,000     |   |   |   | 227,775 |   |
| Exploration (Note 2)                                         |   |                                            | 9,259      |   |                                            |   | 11,377     |                                          |   |   | 367,392                                       |   |   |                                                                             | 11,377     |   |   |   | 764,509 |   |
| Filing fees                                                  |   |                                            | 1,068      |   |                                            |   | 3,611      |                                          |   |   | 2,554                                         |   |   |                                                                             | 3,861      |   |   |   | 12,953 |   |
| Forgiveness of debt (Notes 3 & 4)                        |   |                                            | (547,137   | )      |                                            |   | -          |                                          |   |   | (547,137                                      | )      |   |                                                                             | -          |   |   |   | (547,137 | ) |
| Impairment loss on mineral properties (Note 3)               |   |                                            | 593,467    |   |                                            |   |   -   |                                          |   |   | 1,210,467                                     |   |   |                                                                             | -          |   |   |   | 1,210,467 |   |
| Investor relations                                           |   |                                            | 7,635      |   |                                            |   | 2,585      |                                          |   |   | 21,496                                        |   |   |                                                                             | 2,585      |   |   |   | 36,785 |   |
| Legal                                                        |   |                                            | 17,622     |   |                                            |   | 12,700     |                                          |   |   | 60,089                                        |   |   |                                                                             | 42,105     |   |   |   | 161,968 |   |
| Management fees (Notes 7 & 10)                           |   |                                            | -          |   |                                            |   | -          |                                          |   |   | -                                             |   |   |                                                                             | 2,000      |   |   |   | 33,000 |   |
| Meals and entertainment                                      |   |                                            | 2,000      |   |                                            |   | -          |                                          |   |   | 2,000                                         |   |   |                                                                             | -          |   |   |   | 2,000 |   |
| Office and miscellaneous expenses                            |   |                                            | 1,050      |   |                                            |   | 351        |                                          |   |   | 1,238                                         |   |   |                                                                             | 801        |   |   |   | 11,317 |   |
| Rent (Notes 7 & 9)                                       |   |                                            | -          |   |                                            |   | -          |                                          |   |   | -                                             |   |   |                                                                             | 900        |   |   |   | 10,200 |   |
| Stock based compensation (Note 8)                            |   |                                            | 65,214     |   |                                            |   | -          |                                          |   |   | 160,234                                       |   |   |                                                                             | -          |   |   |   | 250,254 |   |
| Transfer agent                                               |   |                                            | 265        |   |                                            |   | 1,412      |                                          |   |   | 2,516                                         |   |   |                                                                             | 1,512      |   |   |   | 7,654 |   |
| Travel                                                       |   |                                            | 720        |   |                                            |   | 51,432     |                                          |   |   | 8,876                                         |   |   |                                                                             | 51,432     |   |   |   | 72,204 |   |
|                                                         |   |                                            |       |   |                                            |   |       |                                          |   |   |                                          |   |   |                                                                             |       |   |   |   |   |   |
| Net loss for the period                                      |   |                                            | (223,001   | )      |                                            |   | (129,757   | )                                             |   |   | (1,435,259                                    | )      |   |                                                                             | (188,407   | ) |   |   | (2,376,466 | ) |
|                                                         |   |                                            |       |   |                                            |   |       |                                          |   |   |                                          |   |   |                                                                             |       |   |   |   |   |   |
| Basic and diluted loss per common share                      |   |                                            | (0.003     | )      |                                            |   | (0.002     | )                                             |   |   | (0.018                                        | )      |   |                                                                             | (0.003     | ) |   |   |   |   |
| Weighted average number of common shares - basic and diluted |   |                                            | 83,199,200 |   |                                            |   | 73,738,194 |                                          |   |   | 81,928,482                                    |   |   |                                                                             | 64,284,876 |   |   |   |   |   |

----

----

|                                                                       |   | For thesix month period ended 28 February2011 | For thesix month period ended 28 February2010 | For the period from the date of inception on 18 January 2007 to 28 February 2011 |   |
|----------------------------------------------------------------------------|--------|----------------------------------------------------|-----------------------------------------------|----------------------------------------------------------------------------------|--------|
|                                                                       |   |                                               | $                                             |                                                                             |   |   | $ |   |   |   | $ |   |
| Cash flows used in operating activities                                    |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Net loss for the period                                                    |   |                                               | (1,435,259                                    | )                                                                                |   |   | (188,407 | ) |   |   | (2,376,466 | ) |
| Adjustments to reconcile loss to net cash used by operating activities     |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Stock issued for services                                                  |   |                                               | 9,000                                         |                                                                             |   |   |   |   |   |   | 9,000 |   |
| Stock based compensation                                                   |   |                                               | 151,234                                       |                                                                             |   |   |   |   |   |   | 241,254 |   |
| Impairment loss on mineral property acquisition costs                      |   |                                               | 1,210,467                                     |                                                                             |   |   |   |   |   |   | 1,210,467 |   |
| Forgiveness of debt – other income                                   |   |                                               | (547,137                                      | )                                                                                |   |   |   |   |   |   | (547,137 | ) |
| Contributions to capital by related party – expenses (Notes 7 and 9) |   |                                               | -                                             |                                                                             |   |   | 3,350 |   |   |   | 48,300 |   |
| Changes in operating assets and liabilities                                |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Increase in accounts payable and accrued liabilities                       |   |                                               | 102,404                                       |                                                                             |   |   | (3,505 | ) |   |   | 247,309 |   |
| Net cash flows (used in) operating activities                              |   |                                               | (509,291                                      | )                                                                                |   |   | (188,562 | ) |   |   | (1,167,273 | ) |
| Cash flows used in investing activities                                    |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Acquisition of mineral property interest (Note 3)                          |   |                                               | (35,892                                       | )                                                                                |   |   | (120,000 | ) |   |   | (155,892 | ) |
|                                                                       |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows (used in) investing activities                              |   |                                               | (35,892                                       | )                                                                                |   |   | (120,000 | ) |   |   | (155,892 | ) |
| Cash flows from financing activities                                       |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Payment for advance from shareholder                                       |   |                                               | (100,000                                      | )                                                                                |   |   | - |   |   |   | - |   |
| Subscriptions received                                                     |   |                                               | 130,000                                       |                                                                             |   |   | - |   |   |   | 130,000 |   |
| Common shares issued for cash (Note 7)                                     |   |                                               | 315,000                                       |                                                                             |   |   | 638,550 |   |   |   | 1,194,050 |   |
| Net cash flows provided by financing activities                            |   |                                               | 345,000                                       |                                                                             |   |   | 638,550 |   |   |   | 1,324,050 |   |
| Increase (decrease) in cash and cash equivalents                           |   |                                               | (200,183                                      | )                                                                                |   |   | 329,988 |   |   |   | 885 |   |
| Cash and cash equivalents, beginning of period                             |   |                                               | 201,068                                       |                                                                             |   |   | 278 |   |   |   | - |   |
| Cash and cash equivalents, end of period                                   |   |                                               | 885                                           |                                                                             |   |   | 330,266 |   |   |   | 885 |   |
|                                                                       |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |
| Supplemental Disclosures with Respect to Cash Flows (Note 9)               |   |                                               |                                          |                                                                             |   |   |   |   |   |   |   |   |

----

----

| 1. | Nature of Operations and Going Concern |
|----|----------------------------------------|

| 2. | Significant Accounting Policies |
|----|---------------------------------|

----

----

----

----

----

----

| 3. | Mineral Properties |
|----|--------------------|

----

----

|      |   |   | Payments$ |    |   | Shares |   |       | Exploration Expenditures$ |   |
|-----------|--------|--------|-----------|---------|--------|--------|--------|------------|---------------------------|--------|
| 2009      |   |   |      | 465,000 |   |   |   | 17,075,000 |                      |   |   | - |   |
| 2010      |   |   |      | 50,000  |   |   |   | -          |                      |   |   | 250,000 |   |
| 2011      |   |   |      | 80,000  |   |   |   | -          |                      |   |   | 350,000 |   |
| 2012      |   |   |      | 100,000 |   |   |   | -          |                      |   |   | 450,000 |   |
| 2013-2019 |   |   |      | 75,000  |   |   |   | -          |                      |   |   | 1,750,000 |   |
|      |   |   |      |    |   |   |   |       |                      |   |   |   |   |
|      |   |   |      | 755,000 |   |   |   | 17,075,000 |                      |   |   | 2,800,000 |   |

----

----

----

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| 4. | Forgiveness of debt |
|----|---------------------|

| 5. | Accounts Payable and Accrued Liabilities |
|----|------------------------------------------|

| 6. | Related Party Transactions |
|----|----------------------------|

| 7. | Capital Stock |
|----|---------------|

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| Expiry Date        |   | Exercise Price |   |   | 28 February 2011 |   |       | 31 August 2010 |   |
|--------------------|--------|----------------|--------|--------|------------------|--------|------------|----------------|--------|
|               |   |           |   |   |             |   |       |           |   |
| August 27, 2012    |   | $              | 0.07   |   |             |   | 4,000,000  |           |   |   | 4,000,000 |   |
| September 3, 2012  |   | $              | 0.07   |   |             |   | 1,000,000  |           |   |   | - |   |
| September 28, 2012 |   | $              | 0.07   |   |             |   | 300,000    |           |   |   | - |   |
| October 8, 2012    |   | $              | 0.07   |   |             |   | 1,000,000  |           |   |   | - |   |
| October 13, 2012   |   | $              | 0.07   |   |             |   | 2,000,000  |           |   |   | - |   |
| November 24, 2012  |   | $              | 0.07   |   |             |   | 2,000,000  |           |   |   | - |   |
|               |   |           |   |   |             |   |       |           |   |   |   |   |
|               |   |           |   |   |             |   | 10,300,000 |           |   |   | 4,000,000 |   |

|                             |   | 28 February 2011   |       |   | 31 August 2010                  |   |
|----------------------------------|--------|--------------------|------------|--------|---------------------------------|--------|
|                             |   | Number of Warrants |       |   | Weighted Average Exercise Price |   |   | Number of Warrants |   |   | Weighted Average ExercisePrice |   |
|                             |   |               |       |   |                            |   |   |   |   |   |   |   |
| Outstanding, beginning of period |   |               | 4,000,000  |   |                            | $      | 0.07 |   |   |   | - |   |   |   | - |   |
| Issued                           |   |               | 6,300,000  |   |                            | $      | 0.07 |   |   |   | 4,000,000 |   |   | $ | 0.07 |   |
| Exercised                        |   |               | -          |   |                            |   | - |   |   |   | - |   |   |   | - |   |
| Expired                          |   |               | -          |   |                            |   | - |   |   |   | - |   |   |   | - |   |
|                             |   |               |       |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Outstanding, end of period       |   |               | 10,300,000 |   |                            | $      | 0.07 |   |   |   | 4,000,000 |   |   | $ | 0.07 |   |

----

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| 8. | Income Taxes |
|----|--------------|

|                                          |   | For thesix month period ended 28 February 2011 |     |   | For theyear ended 31 August 2010 |   |
|-----------------------------------------------|--------|------------------------------------------------|----------|--------|----------------------------------|--------|
|                                          |   |                                           | $        |   |                             |   | $ |   |
|                                          |   |                                           |     |   |                             |   |   |   |
| Refundable federal tax asset attributable to: |   |                                           |     |   |                             |   |   |   |
| Current operations                            |   |                                           | 44,117   |   |                             |   | 282,675 |   |
| Stock based compensation                      |   |                                           | (20,813  | )      |                             |   | (30,607 | ) |
| Contributions to capital by related party     |   |                                           | -        |   |                             |   | (1,139 | ) |
| Write off mineral property                    |   |                                           | (201,779 | )      |                             |   | - |   |
| Less: Change in valuation allowance           |   |                                           | 178,475  |   |                             |   | (250,930 | ) |
|                                          |   |                                           |     |   |                             |   |   |   |
| Net refundable amount                         |   |                                           | -        |   |                             |   | - |   |

|                              |   | As at 28 February 2011 |      |   | As at 31August 2010 |   |
|-----------------------------------|--------|------------------------|-----------|--------|---------------------|--------|
|                              |   |                   | $         |   |                |   | $ |   |
|                              |   |                   |      |   |                |   |   |   |
| Net operating loss carry forward  |   |                   | 2,169,287 |   |                |   | 807,537 |   |
|                              |   |                   |      |   |                |   |   |   |
| Statutory federal income tax rate |   |                   | 34        | %      |                |   | 34 | % |
| Effective income tax rate         |   |                   | 0         | %      |                |   | 0 | % |
|                              |   |                   |      |   |                |   |   |   |
| Deferred tax asset                |   |                   | 737,558   |   |                |   | 274,563 |   |
| Less: Valuation allowance         |   |                   | (737,558  | )      |                |   | (274,563 | ) |
|                              |   |                   |      |   |                |   |   |   |
| Net deferred tax asset            |   |                   | -         |   |                |   | - |   |

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| 9. | Supplemental Disclosures with Respect to Cash Flows |
|----|-----------------------------------------------------|

|                                         |   | For the period from the date of inception on 18 January 2007 to 28 February 2011 |   |   | For thesix month period ended28 February2011 |   |   | For thesix month period ended 28 February2010 |   |
|----------------------------------------------|--------|----------------------------------------------------------------------------------|--------|--------|---------------------------------------------------|--------|--------|-----------------------------------------------|--------|
|                                         |   | $                                                                                |   |   | $                                                 |   |   | $                                             |   |
|                                         |   |                                                                             |   |   |                                              |   |   |                                          |   |
| Cash paid during the period for interest     |   |                                                                             | -      |   |                                              |   | -      |                                          |   |   | - |   |
| Cash paid during the period for income taxes |   |                                                                             | -      |   |                                              |   | -      |                                          |   |   | - |   |

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----

----

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|   | · | Our Audit Committee does not function as an Audit Committee should since there is a lack of independent directors on the Committee and our Board of Directors has not identified an “expert,” one who is knowledgeable about reporting and financial statements requirements, to serve on the Audit Committee. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We have limited segregation of duties which is not consistent with good internal control procedures. |
|--------|--------|------------------------------------------------------------------------------------------------------|

|   | · | We do not have a written internal control procedurals manual which outlines the duties and reporting requirements of the Directors and any staff to be hired in the future.  This lack of a written internal control procedurals manual does not meet the requirements of the SEC or good internal control. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | There are no effective controls instituted over financial disclosure and the reporting processes. |
|--------|--------|---------------------------------------------------------------------------------------------------|

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| Exhibit Number |   | Name                                                                                                                                                                           |
|----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|           |   |                                                                                                                                                                           |
| 3.1            |   | Certificate of Incorporation (incorporated by reference to the registrant’s Registration Statement on Form SB-2 filed on October 18, 2007)                               |
|           |   |                                                                                                                                                                           |
| 3.2            |   | Articles of Incorporation (incorporated by reference to the registrant’s Registration Statement on Form SB-2 filed on October 18, 2007)                                  |
|           |   |                                                                                                                                                                           |
| 3.3            |   | By-laws (incorporated by reference to the registrant’s Registration Statement on Form SB-2 filed on October 18, 2007)                                                    |
|           |   |                                                                                                                                                                           |
| 3.4            |   | Amendment to Articles of Incorporation (incorporated by reference to the registrant’s Current Report on Form 8-K filed on October 29, 2009)                              |
|           |   |                                                                                                                                                                           |
| 10.1           |   | Lease Agreement with The Falcon Group Claims dated January 25, 2011 (incorporated by reference to the registrant’s Current Report on Form 8-K filed on February 3, 2011) |
|           |   |                                                                                                                                                                           |
| 31.1           |   | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes Oxley Act of 2002*                                                                       |
|           |   |                                                                                                                                                                           |
| 31.2           |   | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes Oxley Act of 2002*                                                                       |
|           |   |                                                                                                                                                                           |
|           |   |                                                                                                                                                                           |
| 32             |   |   Certification by the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*                                |

----

|                      | IRONWOOD GOLD CORP.(Registrant) |
|---------------------------|---------------------------------|
|                      |                            |   |
| Date: April 15, 2011      | By:                             | /s/ Behzad Shayanfar |
|                      |                            | Behzad Shayanfar, Chief Executive Officer(Principal Executive Officer) |
|                      |                            |   |
| Date: April 15, 2011 | By:                             | /s/ Behzad Shayanfar |
|                      |                            | Behzad Shayanfar, Interim Chief Financial Officer(Principal Financial Officer & Principal Accounting Officer) |

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