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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2009

or

[   ] TRANSITION REPORT UNDER SECTION 13 OR 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) | (IRS Employer Identification No.)
|                                                                     |                                  
|11730 NE 107th Place, Kirkland, Washington                           | 98033                            
|(Address of principal executive offices)                             | (Zip Code)                       

206.779.5013(Registrants telephone
number, including area code)

N/A(Former name, former address and
former fiscal year, if changed since last report)

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

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

Large 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 ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after
the distribution of securities under a plan confirmed by a court.
[   ] YES    [   ] NO

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every
Interactive Data File required to be submitted and posted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12
months (or for such shorter period that the registrant was required to submit
and post such files).[   ]YES   [   ]NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable date.
39,000,000 common shares issued and outstanding as of December 17, 2009

1

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.



Our unaudited interim financial statements for the three month
period ended August 31, 2009 form part of this quarterly report. They are stated
in United States Dollars (US$) and are prepared in accordance with United States
generally accepted accounting principles.

2

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GURATA GOLD, INC.(AN EXPLORATION STAGE COMPANY)
FINANCIAL STATEMENTSFOR THE THREE MONTHS ENDED AUGUST 31, 2009
AND 2008 AND THE PERIOD FROM MAY 26, 2006 (INCEPTION) TO AUGUST 31, 2009







|BALANCE
      SHEETS                | F-1
|----------------------------------- | ---
|                                    |    
|STATEMENTS
      OF OPERATIONS      | F-2
|                                    |    
|STATEMENTS
      OF CASH FLOWS      | F-3
|                                    |    
|NOTES
      TO FINANCIAL STATEMENTS | F-4

3

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GURATA GOLD, INC.(AN EXPLORATION STAGE COMPANY)
BALANCE SHEETS

|                                                       |   | August 31,  |   |   | May 31,  |  
|------------------------------------------------------ | - | ----------- | - | - | -------- | -
|                                                       |   | 2009        |   |   | 2009     |  
|                                                       |   | (Unaudited) |   |   |          |  
|ASSETS                                                 |   |             |   |   |          |  
|                                                       |   |             |   |   |          |  
|Current assets:                                        |   |             |   |   |          |  
|Cash                                                   | $ | 1,250       |   | $ | 1,339    |  
|Deposit receivable                                     |   | 104         |   |   | 104      |  
|                                                       |   |             |   |   |          |  
|Total assets                                           | $ | 1,354       |   | $ | 1,443    |  
|                                                       |   |             |   |   |          |  
|LIABILITIES AND STOCKHOLDERS'
      (DEFICIT)          |   |             |   |   |          |  
|EQUITY                                                 |   |             |   |   |          |  
|                                                       |   |             |   |   |          |  
|Current liabilities:                                   |   |             |   |   |          |  
|Accounts
      payable                                 | $ | 30,028      |   | $ | 21,853   |  
|Accrued administrative
      fees                      |   | 5,000       |   |   | 1,876    |  
|Accrued
      professional fees                        |   | -           |   |   | 99       |  
|Advances payable                                       |   | 15,108      |   |   | 15,108   |  
|                                                       |   |             |   |   |          |  
|                                                       |   |             |   |   |          |  
|Total liabilities                                      |   | 50,136      |   |   | 38,936   |  
|                                                       |   |             |   |   |          |  
|Commitments and contingencies                          |   | -           |   |   | -        |  
|                                                       |   |             |   |   |          |  
|Stockholders' (deficit) equity:                        |   |             |   |   |          |  
|Common stock; authorized 75,000,000; $0.001 par value; |   |             |   |   |          |  
|39,000,000 shares issued
      and outstanding at      |   |             |   |   |          |  
|August 31, 2009 and May 31, 2009                       |   | 39,000      |   |   | 39,000   |  
|Additional paid in capital                             |   | 76,250      |   |   | 76,250   |  
|Deficit
      accumulated during the exploration stage |   | (164,032    | ) |   | (152,743 | )
|                                                       |   |             |   |   |          |  
|                                                       |   |             |   |   |          |  
|Total stockholders' (deficit) equity                   |   | (48,782     | ) |   | (37,493  | )
|                                                       |   |             |   |   |          |  
|Total liabilities and stockholders' (deficit) equity   | $ | 1,354       |   | $ | 1,443    |  

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

F-1

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GURATA GOLD, INC.(AN EXPLORATION STAGE COMPANY)
STATEMENTS OF OPERATIONS(UNAUDITED)

|                                                |   | Three
      Months Ended |  |   | From May 26,    | 
|----------------------------------------------- | - | ------------------------ |  | - | --------------- | 
|                                                |   |                          |  |   |                 | 
|                                                |   | August 31, 2009          |  |   | August 31, 2008 | 
|                                                |   |                          |  |   |                 | 
|Operating Expenses:                             |   |                          |  |   |                 | 
|Administrative fees                             | $ | 3,125                    |  | $ | 1,675           | 
|Bank charges
      and interest                 |   | 88                       |  |   | 57              | 
|Consulting                                      |   | -                        |  |   | -               | 
|Donated rent                                    |   | -                        |  |   | -               | 
|Donated services                                |   | -                        |  |   | -               | 
|Exploration
      and development               |   | -                        |  |   | -               | 
|Office                                          |   | -                        |  |   | -               | 
|Professional
      fees                         |   | 8,076                    |  |   | 15,876          | 
|Regulatory                                      |   | -                        |  |   | -               | 
|Impairment loss on mineral
      property costs |   | -                        |  |   | -               | 
|                                                |   |                          |  |   |                 | 
|Net loss for the period                         | $ | 11,289                   |  | $ | 17,608          | 
|                                                |   |                          |  |   |                 | 
|Net loss per share:                             |   |                          |  |   |                 | 
|Basic and diluted                               | $ | 0.00                     |  | $ | 0.00            | 
|                                                |   |                          |  |   |                 | 
|Weighted average number of shares outstanding:  |   |                          |  |   |                 | 
|Basic and diluted                               |   | 39,000,000               |  |   | 39,000,000      | 

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

F-2

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GURATA GOLD, INC.(AN EXPLORATION STAGE COMPANY)
STATEMENTS OF CASH FLOWS(UNAUDITED)

|                                                                                  |   |                          |   |   |                 |   |   | From May 26,    |  
|--------------------------------------------------------------------------------- | - | ------------------------ | - | - | --------------- | - | - | --------------- | -
|                                                                                  |   |                          |   |   |                 |   |   | 2006            |  
|                                                                                  |   | Three
      Months Ended |   |   | (Inception) to  |  
|                                                                                  |   | August 31, 2009          |   |   | August 31, 2008 |   |   | August 31, 2009 |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Cash flow from operating activities:                                              |   |                          |   |   |                 |   |   |                 |  
|Net loss                                                                          | $ | (11,289                  | ) | $ | (17,608         | ) | $ | (164,032        | )
|Adjustments to reconcile net loss to net cash
      used in operating activities: |   |                          |   |   |                 |   |   |                 |  
|Donated services and rent                                                         |   | -                        |   |   | -               |   |   | 8,250           |  
|Impairment loss on mineral property costs                                         |   | -                        |   |   | -               |   |   | 1,000           |  
|Changes in operating assets and liabilities:                                      |   |                          |   |   |                 |   |   |                 |  
|Deposit receivable                                                                |   | -                        |   |   | 6,303           |   |   | (104            | )
|Prepaid expenses                                                                  |   | -                        |   |   | (355            | ) |   | -               |  
|Accounts payable                                                                  |   | 8,175                    |   |   | (8,285          | ) |   | 30,028          |  
|Accrued administrative fees                                                       |   | 3,124                    |   |   | (3,675          | ) |   | 5,000           |  
|Accrued professional fees                                                         |   | (99                      | ) |   | 15,873          |   |   | -               |  
|Advances payable                                                                  |   | -                        |   |   | -               |   |   | 15,108          |  
|Due to related parties                                                            |   | -                        |   |   | 3               |   |   | -               |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Net cash used in operating activities                                             |   | (89                      | ) |   | (7,744          | ) |   | (104,750        | )
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|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                                                |   | -                        |   |   |                 |   |   | 107,000         |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Net cash provided
      by financing activities                                   |   | -                        |   |   | -               |   |   | 107,000         |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Net (decrease) increase in cash during the period                                 |   | (89                      | ) |   | (7,744          | ) |   | 1,250           |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Cash, beginning of
      period                                                   |   | 1,339                    |   |   | 30,200          |   |   | -               |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Cash, end of period                                                               | $ | 1,250                    |   | $ | 22,456          |   | $ | 1,250           |  
|                                                                                  |   |                          |   |   |                 |   |   |                 |  
|Supplemental disclosure of cash flow information:                                 |   |                          |   |   |                 |   |   |                 |  
|Cash paid during the period                                                       |   |                          |   |   |                 |   |   |                 |  
|Taxes                                                                             | $ | -                        |   | $ | -               |   | $ | -               |  
|Interest                                                                          | $ | -                        |   | $ | -               |   | $ | -               |  

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

F-3

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GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31,
2009 (UNAUDITED)

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-K of Gurata Gold, Inc. for the year ended May 31, 2009. 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, 2009 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 financial statements
for the year ended May 31, 2009, included in the Companys annual report on Form
10-K.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents

For purposes of the balance sheet and statement of cash flows,
the Company considers all amounts on deposit with financial institutions and
highly liquid investments with maturities of 90 days or less to be cash
equivalents. At August 31, 2009 and May 31, 2009, the Company did not have any
cash equivalents

F-4

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**GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY)** **NOTES TO THE FINANCIAL STATEMENTS**
**AUGUST 31, 2009** **(UNAUDITED)**

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Financial Instruments

Concentration of Credit Risk

Financial instruments that potentially subject the Company to
significant concentrations of credit risk consist principally of cash. At August
31, 2009 and May 31, 2009 the Company had approximately $1,250 and $1,339,
respectively in cash that was not insured. This cash is on deposit with a large
chartered Canadian bank and a large American bank. As part of its cash
management process, the Company performs periodic evaluations of the relative
credit standing of this financial institution. The Company has not experienced
any losses in cash balances and does not believe it is exposed to any
significant credit risk on its cash.

Foreign Exchange Risk

The Company is 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. The Company does not believe
that it has any material risk due to foreign currency exchange.

Fair Value of Financial Instruments

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:

F-5

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**GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY)** **NOTES TO THE FINANCIAL STATEMENTS**
**AUGUST 31, 2009** **(UNAUDITED)**

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

|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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

The Companys financial instruments include cash, deposit
receivable, accounts payable, accrued administrative fees, professional fees and
advances payable. The fair value of these financial instruments approximate
their carrying values due to their short maturities.

Foreign Currency Translation

The Companys functional and reporting currency is the United
States dollar. Monetary assets and liabilities denominated in foreign currencies
are translated in accordance with SFAS No. 52 Foreign Currency
Translation, using the exchange rate prevailing at the balance sheet date.
Gains and losses arising on settlement of foreign currency denominated
transactions or balances are included in the determination of income. Foreign
currency transactions are primarily undertaken in Canadian dollars. The Company
has not to the date of these financial statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.

Accounting Estimates

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

The Companys financial statements are based on a number of
estimates, including accruals for estimated administrative and professional
fees.

Comprehensive Income (Loss)

Comprehensive Income (loss) reflects changes in equity that
results from transactions and economic events from non-owner sources. At August
31, 2009 and May 31, 2009, the Company has no items that represent a
comprehensive income (loss) and, therefore, has not included a schedule of
comprehensive income (loss) in the financial statements.

F-6

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**GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY)** **NOTES TO THE FINANCIAL STATEMENTS**
**AUGUST 31, 2009** **(UNAUDITED)**

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Mineral Property Costs

The Company has been in the exploration stage since its
inception on May 26, 2006 and has not yet realized any revenues from its planned
operations. It is primarily engaged in the acquisition and exploration of mining
properties. Mineral property exploration costs are expensed as 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. The Company assesses the carrying costs for
impairment under Statement of Financial Accounting Standards (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 (see Note 5).

When it has been 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, are 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.

Asset Retirement Obligations

SFAS No. 143 (SFAS 143), Accounting for Asset Retirement
Obligations addresses financial accounting and reporting for obligations
associated with the retirement of tangible long-lived assets and the associated
asset retirement costs. Specifically, SFAS 143 requires that the fair value of a
liability for an asset retirement obligation be recognized in the period in
which it is incurred if a reasonable estimate of fair value can be made. In
addition, the asset retirement cost is capitalized as part of the assets
carrying value and subsequently allocated to expense over the assets useful
life. At August 31, 2009 and May 31, 2009, the Company did not have any asset
retirement obligations.

Basic and Diluted Net Loss Per Common Share (EPS)

Basic net loss per share is computed by dividing the net loss
attributable to the common stockholders by the weighted average number of common
shares outstanding during the reporting period. Diluted net income per common
share includes the potential dilution that could occur upon exercise of the
options and warrants to acquire common stock computed using the treasury stock
method which assumes that the increase in the number of shares is reduced by the
number of shares which could have been repurchased by the Company with the
proceeds from the exercise of the options and warrants (which were assumed to
have been made at the average market price of the common shares during the
reporting period).

Potential common shares are excluded from the diluted loss per
share computation in net loss periods as their inclusion would be anti-dilutive.

At August 31, 2009, the Company had issued 39,000,000 common
shares and had no outstanding options or warrants.

F-7

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**GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY)** **NOTES TO THE FINANCIAL STATEMENTS**
**AUGUST 31, 2009** **(UNAUDITED)**

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Stock-Based Compensation

In December 2004, the Financial Accounting Standards Board
(FASB) issued SFAS No. 123(R), Share-Based Payment (SFAS 123(R)), which
is a revision of SFAS No. 123, Accounting for Stock-Based Compensation.
SFAS 123(R) was effective for public companies for the first fiscal year
beginning after June 15, 2005, supersedes Accounting Principles Board Opinion
No. 25 (APB 25), Accounting for Stock Issued to Employees, and amends
SFAS 95, Statement of Cash Flows. SFAS 123(R) eliminates the option to
use APB 25s intrinsic value method of accounting and requires recording expense
for stock compensation based on a fair value based method.

The adoption of SFAS 123(R) did not have a material effect on
the Companys financial condition or results of operations because since
inception the Company has not entered into any share-based transactions.

Recent Accounting Pronouncements

We do not expect the adoption of any new accounting
pronouncements to have a material impact on our financial statements.

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, 2009, the Company had an
accumulated deficit of $164,032 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 a former 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, 2009 and May 31, 2009, the Company was indebted
to a former director in the amounts of $54. This debt was reclassified to
accounts payable at November 30, 2008.

F-8

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**GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY)** **NOTES TO THE FINANCIAL STATEMENTS**
**AUGUST 31, 2009** **(UNAUDITED)**

NOTE 5  UNPROVED MINERAL PROPERTY

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
(see Notes 2 and 4).

The Company is required to incur approximately $2,748
(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 claim.

Due to prior work that was done on the claim the Companys
mineral claim is in good standing until February 10, 2012.

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.

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

F-9

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Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations.

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements.
These are statements regarding financial and operating performance and results
and other statements that are not historical facts. The words expect,
project, estimate, believe, anticipate, intend, plan, forecast,
and similar expressions are intended to identify forward-looking statements.
Certain important risks could cause results to differ materially from those
anticipated by some of the forward-looking statements. Some, but not all, of
these risks include, among other things:

- general economic conditions, because they may affect our ability to raise
  money,
- our ability to raise enough money to continue our operations,
- changes in regulatory requirements that adversely affect our business,
- changes in the prices for minerals that adversely affect our business,
- political changes in Canada, which could affect our interests there, and
- other uncertainties, all of which are difficult to predict and many of
  which are beyond our control.

We caution you not to place undue reliance on these
forward-looking statements, which reflect our managements view only as of the
date of this report. We are not obligated to update these statements or publicly
release the results of any revisions to them to reflect events or circumstances
after the date of this report or to reflect the occurrence of unanticipated
events. You should refer to and carefully review the information in future
documents we file with the Securities and Exchange Commission

In this quarterly report, unless otherwise specified, all
dollar amounts are expressed in United States dollars. All references to "US$"
refer to United States dollars and all references to "common stock" refer to the
common shares in our capital stock.

As used in this quarterly report, the terms "we", "us", "our"
and "our company" mean Gurata Gold, Inc., unless otherwise indicated.

General Overview and Business Development over the Last
Three Years

We were incorporated in the state of Nevada on May 26, 2006.
Since our incorporation, we had been in the business mineral exploration.

On January 17, 2007, we acquired the Gate 1 Claim, a mineral
claim in the Province of British Columbia.

Management has no previous experience exploring for minerals or
operating a mining company. Even if we complete our current exploration program
and 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 on the Gate 1
Claim.

Under theMineral Tenure Act(British Columbia), title
to British Columbia mineral claims can only be held by individuals or British
Columbia corporations. Because of this regulation, Feliberto Gurat, our former
chief financial officer, is holding the Gate 1 Claim in trust for our company
until we can determine whether there is a commercially viable gold deposit on
the Gate 1 Claim. If we determine that there is a commercially viable gold
deposit on the Gate 1 Claim we will incorporate a British Columbia subsidiary to
hold title to the Gate 1 Claim and Mr. Gurat will transfer the Gate 1 Claim to
the subsidiary. The transfer will be at no cost to our company, other than the
costs associated with the incorporation of the British Columbia subsidiary.

The cost of the Gate 1 Claim charged to operations by Gurata
was $1,000, which represented the cost to acquire the Gate 1 Claim via a
property agreement with Kenneth Ralfs. However, Gurata will incur much more
significant expenses in order to explore the Gate 1 Claim as described in the
Plan of Operation below.

We have no current plans to change our business activities from
mineral exploration or to combine with another business. It is possible that
beyond the foreseeable future that our mineral exploration efforts fail and for
any potential minerals in our property, become uneconomic due to market prices
for such minerals, which may require

4

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us to change our plan of operations. However, until we
encounter such a situation management intends to explore for minerals in British
Columbia, Canada or elsewhere.

We have not been involved in any bankruptcy, receivership or
similar proceedings. There have been no material reclassifications, mergers,
consolidations or purchases or sales of a significant amount of assets not in
the ordinary course of our business.

Our Current Business

We were incorporated on May 26, 2006 in the state of Nevada.
Our principal business is the acquisition and exploration of mineral resources
in northern British Columbia. 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.

Results of Operations

Three Months Ended August 31, 2009 and 2008

Our operating results for the three months ended August 31,
2009 and 2008 and the changes between those periods for the expenses are
summarized as follows:

|                          |   |                    |  |   |                    |  |   | Change Between      |  
|------------------------- | - | ------------------ |  | - | ------------------ |  | - | ------------------- | -
|                          |   |                    |  |   |                    |  |   | Three Month Period  |  
|                          |   | Three Months Ended |  |   | Three Months Ended |  |   | Ended               |  
|                          |   | August 31,         |  |   | August 31,         |  |   | August 31, 2009     |  
|                          |   | 2009               |  |   | 2008               |  |   | and August 31, 2008 |  
|Revenue                   | $ | Nil                |  | $ | Nil                |  | $ | Nil                 |  
|Administrative fees       |   | 3,125              |  |   | 1,675              |  |   | 1,450               |  
|Bank charges and interest |   | 88                 |  |   | 57                 |  |   | 31                  |  
|Professional fees         |   | 8,076              |  |   | 15,876             |  |   | (7,800              | )
|Net loss for the period   | $ | 11,289             |  | $ | 17,608             |  | $ | (6,319              | )

During the three months ended August 31, 2009, our net loss
decreased by $6,319 a decrease of 36% from $17,608 for the three months ended
August 31, 2008 to $11,289 for the three months ended August 31, 2009.

The $6,319 decrease in our net loss for the three months ended
August 31, 2009 was primarily caused by a reduction in professional fees which
were partially offset by an increase in administrative fees.

Over the next 12 months, we do not anticipate generating any
revenue and we expect our operating losses to be approximately $72,000. We plan
to continue to fund Phase Two 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.

5

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Revenues

We have not earned any revenues since our inception and we do
not anticipate earning revenues in the near future.

Liquidity and Financial Condition

At August 31, 2009, we had a cash balance of $1,250 and
negative cash flows from operations of $89. During the three months ended August
31, 2009, we funded our operations with cash that we received from the sale of
common stock in prior years and from advances from an unrelated party.

Cash Flows
      
      As atAugust 31,2009
      
      
      2008Net Cash Used in Operating Activities
      $
      (89
      )
      $
      (7,744
      )Net Cash Used In Investing Activities
      
      Nil
      
      
      NilNet Cash Provided by Financing Activities
      
      Nil
      
      
      NilDecrease In Cash During The Period
      $
      (89
      )
      $
      (7,744
      )


Net Cash Used in Operating Activities

Net cash used in operating activities during the three months
ended August 31, 2009 was $89. We used cash primarily to cover our net loss of
$11,289 and a reduction of $99 in accrued professional fees. These uses of cash
were offset primarily by an increase in accounts payable of $8,175 and an
increase in accrued professional fees of $3,124.

Net cash used in operating activities during the three months
ended August 31, 2008 was $7,744. We used cash primarily to fund our net loss of
$17,608, payment of $8,285 in accounts payable, reduction of accrued
administrative fees by $3,675 and an increase in prepaid expenses of $355. These
uses were offset by an increase in accrued professional fees of $15,873 a $3
increase in the amount due to our former president and the collection of $6,303
in deposits receivable.

Net Cash Used in Investing Activities

We did not have any investing activities during the three
months ended August 31, 2009 and 2008.

Net Cash Provided By Financing Activities

During the three months ended August 31, 2009 and 2008 we did
not have any financing activities.

Unproved Mineral Property

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 a former director and pursuant to a
trust agreement is held in trust on our behalf. See Exhibit 10.2  Trust
agreement for more details.

At August 31, 2009, we had spent $21,058 on exploration work
including a helicopter-supported magnetic survey on the Gate 1 Claim. On
December 15, 2008, the Company registered exploration work performed on its
unproved mineral property with the Government of British Columbia, which allows
the Company to retain title to the claim until February 10, 2012.

6

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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.
Management will review the report in 2009 and have discussions with our
consulting geologist in order to determine the economic viability of the mineral
claim based on the data that was obtained in the helicopter-supported magnetic
survey.

Due to Guratas current financial condition it did not have
enough cash to start Phase Two in July 2009 as disclosed in previous SEC
filings. In light of difficult global financial conditions Gurata will delay its
exploration plans for one year.

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

| | 1. | Management will review the geological report about the
      helicopter-supported magnetic survey in 2009 and have discussions with our
      consulting geologist in order to determine the economic viability of the
      mineral claim based on the data that was obtained in magnetic survey. This
      phase will be called Phase One.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 2. | If Phase One is successful, we plan to conduct the second
      phase of our four phase exploration program starting in July 2010. This
      Phase Two exploration program is expected to cost approximately $18,600
      (CDN$20,000). 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.
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 3. | The samples obtained during the Phase Two exploration
      program will be analyzed at a laboratory and we will review the results of
      the Phase Two exploration program in the winter of 2010. We will engage
      our consulting geologist to interpret the results of Phase Two. It is
      estimated that the analysis and interpretation of results will cost
      approximately $3,200 (CDN$3,500). If we are able to identify favorable
      rock formations and structures with elevated metal values we will plan and
      conduct a Phase Three program.                                                                                                                                                                                                                                                                                                    
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 4. | If the Phase Three program were to proceed, our
      consulting geologist has indicated that we should budget approximately
      $55,700 (CDN$60,000). If we proceed with our Phase Three program we would
      do so in July 2011. 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 Two 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.                                                                                                                                                 
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 5. | In the case that the Phase Three exploration program
      takes place, we will review the results in winter 2011. If we are able to
      continue to confirm elevated metal values at specific hand drilled targets
      we will consider Phase Three a success and will plan for a Phase Four
      exploration program. The Phase Four exploration program is expected to
      cost at least $232,000 (CDN$250,000). 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 Four of
      our exploration plan we would commence in July
2012.                                                                                                                                                                                                  

Challenges and Risks

On August 31, 2009, we had cash of approximately $1,250. We
will have to raise additional funds to cover our operating costs and commence
Phase Two 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

7

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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 Four exploration program. We have not undertaken any efforts
to locate a joint venture partner for Phase Four. 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.

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.

Other Trends, Events or Uncertainties that may Impact
Results of Operations or Liquidity Trends, Events, and Uncertainties

The economic crisis in the United States and the resulting
economic uncertainty and market instability may make it harder for us to raise
capital as and when we need it and have made it difficult for us to assess the
impact of the crisis on our operations or liquidity and if the prices we will
receive on the sale of minerals will exceed the cost of mineral exploitation. If
we are unable to raise cash, we may be required to cease our operations. Other
than as discussed in this quarterly report, we know of no other trends, events
or uncertainties that have or are reasonably likely to have a material impact on
our short-term or long-term liquidity.

Contractual Obligations

As a smaller reporting company, we are not required to
provide tabular disclosure obligations.

Going Concern

Due to lack of operating history and present inability to
generate revenues, 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 have been prepared on a
going concern basis, which implies that we will continue to realize our assets
and discharge our liabilities in the normal course of business. We have not
generated any revenues since inception and have never paid any dividends and we
are unlikely to pay dividends or generate earnings in the immediate or
foreseeable future. Our continuation as a going concern is dependent upon the
continued financial support from our shareholders, our ability to obtain the
necessary equity financing to continue operations, confirmation our interests in
the underlying properties, and the attainment of profitable operations. Our
ability to achieve and maintain profitability and positive cash flows is
dependent upon our ability to locate profitable

8

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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. At August 31, 2009, we had accumulated
losses of $164,032 since inception. 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. These financial statements
do not give any 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.

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, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to
stockholders.

Contingencies and Commitments

We had no commitments or contingencies at August 31, 2009.

Internal and External Sources of Liquidity

To date, we have funded our operations from the sale of our
common stock and from advances from an unrelated party

Recently Adopted and Recently Issued Accounting
Standards

We do not expect the adoption of any new accounting
pronouncements to have a material impact on our financial statements.

Critical Accounting Policies

Our consolidated financial statements and accompanying notes
are prepared in accordance with generally accepted accounting principles in the
United States. Preparing financial statements requires management to make
estimates and assumptions that affect the reported amounts of assets,
liabilities, revenue, and expenses. These estimates and assumptions are affected
by management's application of accounting policies. We believe that
understanding the basis and nature of the estimates and assumptions involved
with the following aspects of our consolidated financial statements is critical
to an understanding of our financials.

Cash and Cash Equivalents

For purposes of the balance sheet and statement of cash flows,
our company considers all amounts on deposit with financial institutions and
highly liquid investments with maturities of 90 days or less to be cash
equivalents. At August 31, 2009 and May 31, 2009, our company did not have any
cash equivalents

Financial Instruments

Concentration of Credit Risk

Financial instruments that potentially subject our company to
significant concentrations of credit risk consist principally of cash. At August
31, 2009 and May 31, 2009 our company had approximately $1,250 and $1,339,
respectively in cash that was not insured. This cash is on deposit with a large
chartered Canadian bank and a large American bank. As part of our cash
management process, our company performs periodic evaluations of the relative
credit standing of this financial institution. Our company has not experienced
any losses in cash balances and does not believe it is exposed to any
significant credit risk on our cash.

9

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Foreign Exchange Risk

Our company is 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. Our company does not believe
that it has any material risk due to foreign currency exchange.

Fair Value of Financial Instruments

On June 1, 2007, our 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 our 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

Our companys financial instruments include cash, deposit
receivable, accounts payable, accrued administrative fees, professional fees and
advances payable. The fair value of these financial instruments approximate
their carrying values due to their short maturities.

10

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Foreign Currency Translation

Our companys functional and reporting currency is the United
States dollar. Monetary assets and liabilities denominated in foreign currencies
are translated in accordance with SFAS No. 52 Foreign Currency
Translation, using the exchange rate prevailing at the balance sheet date.
Gains and losses arising on settlement of foreign currency denominated
transactions or balances are included in the determination of income. Foreign
currency transactions are primarily undertaken in Canadian dollars. Our company
has not to the date of these financial statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.

Accounting Estimates

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

Our companys financial statements are based on a number of
estimates, including accruals for estimated administrative and professional
fees.

Comprehensive Income (Loss)

Comprehensive Income (loss) reflects changes in equity that
results from transactions and economic events from non-owner sources. At August
31, 2009 and May 31, 2009, our company has no items that represent a
comprehensive income (loss) and, therefore, has not included a schedule of
comprehensive income (loss) in the financial statements.

Mineral Property Costs

Our company has been in the exploration stage since our
inception on May 26, 2006 and has not yet realized any revenues from our planned
operations. It is primarily engaged in the acquisition and exploration of mining
properties. Mineral property exploration costs are expensed as 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. Our company assesses the carrying costs for
impairment under Statement of Financial Accounting Standards (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 our estimated fair value (see Note 5).

When it has been 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, are 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.

Asset Retirement Obligations

SFAS No. 143 (SFAS 143), Accounting for Asset Retirement
Obligations addresses financial accounting and reporting for obligations
associated with the retirement of tangible long-lived assets and the associated
asset retirement costs. Specifically, SFAS 143 requires that the fair value of a
liability for an asset retirement obligation be recognized in the period in
which it is incurred if a reasonable estimate of fair value can be made. In
addition, the asset retirement cost is capitalized as part of the assets
carrying value and subsequently allocated to expense over the assets useful
life. At August 31, 2009 and May 31, 2009, our company did not have any asset
retirement obligations.

11

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Basic and Diluted Net Loss Per Common Share (EPS)

Basic net loss per share is computed by dividing the net loss
attributable to the common stockholders by the weighted average number of common
shares outstanding during the reporting period. Diluted net income per common
share includes the potential dilution that could occur upon exercise of the
options and warrants to acquire common stock computed using the treasury stock
method which assumes that the increase in the number of shares is reduced by the
number of shares which could have been repurchased by our company with the
proceeds from the exercise of the options and warrants (which were assumed to
have been made at the average market price of the common shares during the
reporting period).

Potential common shares are excluded from the diluted loss per
share computation in net loss periods as their inclusion would be anti-dilutive.

At August 31, 2009, our company had issued 39,000,000 common
shares and had no outstanding options or warrants.

Stock-Based Compensation

In December 2004, the Financial Accounting Standards Board
(FASB) issued SFAS No. 123(R), Share-Based Payment (SFAS 123(R)), which
is a revision of SFAS No. 123, Accounting for Stock-Based Compensation.
SFAS 123(R) was effective for public companies for the first fiscal year
beginning after June 15, 2005, supersedes Accounting Principles Board Opinion
No. 25 (APB 25), Accounting for Stock Issued to Employees, and amends
SFAS 95, Statement of Cash Flows. SFAS 123(R) eliminates the option to
use APB 25s intrinsic value method of accounting and requires recording expense
for stock compensation based on a fair value based method.

The adoption of SFAS 123(R) did not have a material effect on
our companys financial condition or results of operations because since
inception our company has not entered into any share-based transactions.

Recently Issued Accounting Standards

We do not expect the adoption of any new accounting
pronouncements to have a material impact on our financial statements.

Item 3. Quantitative Disclosures About Market Risks

As a smaller reporting company, we are not required to
provide the information required by this Item.

Item 4T. Controls and Procedures.

We maintain disclosure controls and procedures that are
designed to ensure that information required to be disclosed in our reports
filed under the Securities Exchange Act of 1934, as amended, is recorded,
processed, summarized and reported within the time periods specified in the
Securities and Exchange Commission's rules and forms, and that such information
is accumulated and communicated to our management, including our president (also
our principal executive officer, principal financial officer and principal
accounting officer) to allow for timely decisions regarding required disclosure.

As of August 31, 2009, the end of our first quarter covered by
this report, we carried out an evaluation, under the supervision and with the
participation of our president (also our principal executive officer, principal
financial and accounting officer), of the effectiveness of the design and
operation of our disclosure controls and procedures. Based on the foregoing, our
president (also our principal executive officer, principal financial and
accounting officer) concluded that our disclosure controls and procedures were
not effective in providing reasonable assurance in the reliability of our
reports as of the end of the period covered by this quarterly report.

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There have been no changes in our internal controls over
financial reporting that occurred during the quarter ended August 31, 2009 that
have materially or are reasonably likely to materially affect, our internal
controls over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We know of no material, existing or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial shareholder,
is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors

Much of the information included in this quarterly report
includes or is based upon estimates, projections or other "forward looking
statements". Such forward looking statements include any projections or
estimates made by us and our management in connection with our business
operations. While these forward-looking statements, and any assumptions upon
which they are based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections, assumptions
or other future performance suggested herein.

Such estimates, projections or other "forward looking
statements" involve various risks and uncertainties as outlined below. We
caution the reader that important factors in some cases have affected and, in
the future, could materially affect actual results and cause actual results to
differ materially from the results expressed in any such estimates, projections
or other "forward looking statements".

Our common shares are considered speculative during the
development of our new business operations. Prospective investors should
consider carefully the risk factors set out below.

Because our auditors have issued a going concern opinion,
there is substantial uncertainty we will continue activities in which case you
could lose your investment.

Our auditors have issued a going concern opinion. This means
that there is substantial doubt that we can continue as an ongoing business for
the next twelve months. As such we may have to cease activities and you could
lose your investment.

Because the probability of an individual prospect ever
having reserves is extremely remote, any funds spent on exploration will
probably be lost.

The probability of an individual prospect ever having reserves
is extremely remote. In all probability, the property does not contain any
reserves. As such, any funds spent on exploration will probably be lost which
will result in a loss of your investment.

We lack an operating history and have losses which we expect
to continue into the future. As a result, we may have to suspend or cease
activities.

We were incorporated on May 26, 2006 and have not realized any
revenues. We have no operating history upon which an evaluation of our future
success or failure can be made. Our net loss from inception to August 31, 2009
is $164,032. Our ability to achieve and maintain profitability and positive cash
flow is dependent upon:

- our ability to locate a profitable mineral property
- our ability to generate revenues
- our ability to reduce exploration costs.

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Based upon current plans, we expect to incur operating losses
in future periods. This will happen because there are expenses associated with
the research and exploration of our mineral properties. As a result, we may not
generate revenues in the future. Failure to generate revenues will cause us to
suspend or cease activities.

Because we will have to spend additional funds to determine
if we have a reserve, if we cannot raise the money we will have to cease
operations and you could lose your investment.

Even if we complete our current exploration programs and 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, a reserve.

Because our management only has limited technical training
or experience in exploring for, starting, and operating an exploration program,
management's decisions and choices may not take into account standard
engineering or managerial approaches mineral exploration companies commonly use.
As a result, we may have to suspend or cease activities which will result in the
loss of your investment.

Our management has limited experience with exploring for,
starting, and operating an exploration program. Further, our management has no
direct training or experience in these areas and as a result may not be fully
aware of many of the specific requirements related to working within the
industry. Management's decisions and choices may not take into account standard
engineering or managerial approaches mineral exploration companies commonly use.
Consequently our activities, earnings and ultimate financial success could
suffer irreparable harm due to management' s lack of experience in this
industry. As a result we may have to suspend or cease activities which will
result in the loss of your investment.

Because we are small and do not have much capital, we may
have to limit our exploration activity which may result in a loss of your
investment.

Because we are small and do not have much capital, we must
limit our exploration activity. As such we may not be able to complete an
exploration program that is as thorough as we would like. In that event, an
existing reserve may go undiscovered. Without a reserve, we cannot generate
revenues and you will lose your investment.

We may not have access to all of the supplies and materials
we need to begin exploration which could cause us to delay or suspend
activities.

Competition and unforeseen limited sources of supplies in the
industry could result in occasional spot shortages of supplies, such as
dynamite, and certain equipment such as bulldozers and excavators that we might
need to conduct exploration. We have not attempted to locate or negotiate with
any suppliers of products, equipment or materials. If we cannot find the
products and equipment we need, we will have to suspend our exploration plans
until we do find the products and equipment we need.

Trading in our common shares on the OTC Bulletin Board is
limited and sporadic making it difficult for our shareholders to sell their
shares or liquidate their investments.

Our common shares are currently listed for public trading on
the OTC Bulletin Board. The trading price of our common shares has been subject
to wide fluctuations. Trading prices of our common shares may fluctuate in
response to a number of factors, many of which will be beyond our control. The
stock market has generally experienced extreme price and volume fluctuations
that have often been unrelated or disproportionate to the operating performance
of companies with no current business operation. There can be no assurance that
trading prices and price earnings ratios previously experienced by our common
shares will be matched or maintained. These broad market and industry factors
may adversely affect the market price of our common shares, regardless of our
operating performance.

In the past, following periods of volatility in the market
price of a companys securities, securities class-action litigation has often
been instituted. Such litigation, if instituted, could result in substantial
costs for us and a diversion of managements attention and resources.

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Our stock is a penny stock. Trading of our stock may be
restricted by the SECs penny stock regulations which may limit a stockholders
ability to buy and sell our stock.

Our stock is a penny stock. The Securities and Exchange
Commission has adopted Rule 15g-9 which generally defines penny stock to be
any equity security that has a market price (as defined) less than $5.00 per
share or an exercise price of less than $5.00 per share, subject to certain
exceptions. Our securities are covered by the penny stock rules, which impose
additional sales practice requirements on broker-dealers who sell to persons
other than established customers and accredited investors. The term
accredited investor refers generally to institutions with assets in excess of
$5,000,000 or individuals with a net worth in excess of $1,000,000 or annual
income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock
rules require a broker-dealer, prior to a transaction in a penny stock not
otherwise exempt from the rules, to deliver a standardized risk disclosure
document in a form prepared by the SEC which provides information about penny
stocks and the nature and level of risks in the penny stock market. The
broker-dealer also must provide the customer with current bid and offer
quotations for the penny stock, the compensation of the broker-dealer and its
salesperson in the transaction and monthly account statements showing the market
value of each penny stock held in the customers account. The bid and offer
quotations, and the broker-dealer and salesperson compensation information, must
be given to the customer orally or in writing prior to effecting the transaction
and must be given to the customer in writing before or with the customers
confirmation. In addition, the penny stock rules require that prior to a
transaction in a penny stock not otherwise exempt from these rules, the
broker-dealer must make a special written determination that the penny stock is
a suitable investment for the purchaser and receive the purchasers written
agreement to the transaction. These disclosure requirements may have the effect
of reducing the level of trading activity in the secondary market for the stock
that is subject to these penny stock rules. Consequently, these penny stock
rules may affect the ability of broker-dealers to trade our securities. We
believe that the penny stock rules discourage investor interest in and limit the
marketability of our common stock.

The Financial Industry Regulatory Authority, or FINRA, has
adopted sales practice requirements which may also limit a stockholder's ability
to buy and sell our stock.

In addition to the "penny stock" rules described above, FINRA
has adopted rules that require that in recommending an investment to a customer,
a broker-dealer must have reasonable grounds for believing that the investment
is suitable for that customer. Prior to recommending speculative low priced
securities to their non-institutional customers, broker-dealers must make
reasonable efforts to obtain information about the customer's financial status,
tax status, investment objectives and other information. Under interpretations
of these rules, FINRA believes that there is a high probability that speculative
low priced securities will not be suitable for at least some customers. FINRA
requirements make it more difficult for broker-dealers to recommend that their
customers buy our common stock, which may limit your ability to buy and sell our
stock and have an adverse effect on the market for our shares.

Trends, Risks and Uncertainties

We have sought to identify what we believe to be the most
significant risks to our business, but we cannot predict whether, or to what
extent, any of such risks may be realized nor can we guarantee that we have
identified all possible risks that might arise. Investors should carefully
consider all of such risk factors before making an investment decision with
respect to our common stock.

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

None.

Item 3. Defaults Upon Senior Securities.

None.

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

None.

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Item 5. Other Information

None.

Item 6. Exhibits.

Exhibits required by Item 601 of Regulation S-K

|Exhibit | Description                                                                                                                                                                                                                        
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                    
|(3)     | Articles
        of Incorporation and Bylaws                                                                                                                                                                                       
|        |                                                                                                                                                                                                                                    
|3.1     | Articles of
        Incorporation (incorporated by reference to our registration statement
        on Form SB-2 filed on August 16, 2007).                                                                                         
|        |                                                                                                                                                                                                                                    
|3.2     | By-Laws (incorporated
        by reference to our registration statement on Form SB-2 filed on August
        16, 2007).                                                                                                           
|        |                                                                                                                                                                                                                                    
|(10)    | Material
        Contracts                                                                                                                                                                                                         
|        |                                                                                                                                                                                                                                    
|10.1    | Property agreement
        dated December 15, 2006 between Kenneth Ralfs and Feliberto Gurat as Trustee
        for Gurata (incorporated by reference to our registration statement on
        Form SB-2 filed on August 16, 2007).
|        |                                                                                                                                                                                                                                    
|10.2    | Trust agreement
        dated January 17, 2007 (incorporated by reference to our registration
        statement on Form SB-2 filed on August 16, 2007).                                                                            
|        |                                                                                                                                                                                                                                    
|(14)    | Code of Ethics                                                                                                                                                                                                                     
|        |                                                                                                                                                                                                                                    
|14.1    | Financial Code
        of Ethics (incorporated by reference to our registration statement on
        Form SB-2 filed on August 16, 2007).                                                                                          
|        |                                                                                                                                                                                                                                    
|(31)    | Section 302
        Certifications                                                                                                                                                                                                 
|        |                                                                                                                                                                                                                                    
|31.1*   | Certification
        pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                   
|        |                                                                                                                                                                                                                                    
|(32)    | Section 906
        Certification                                                                                                                                                                                                  
|        |                                                                                                                                                                                                                                    
|32.1*   | Certification
        pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
        of the Sarbanes- Oxley Act of 2002.                                                                                           

* Filed herewith

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SIGNATURES

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

| | GURATA GOLD, INC.                                                          
| | ---------------------------------------------------------------------------
| |                                                                            
| |                                                                            
| |                                                                            
| | */s/ Shaun P.
      Davis*                                                 
| | Shaun P. Davis                                                             
| | President, Chief Financial Officer, Treasurer,
      Secretary and Director
| | (Principal Executive Officer, Principal
      Financial Officer and        
| | Principal Accounting Officer)                                              
| | Date: December 18, 2009                                                    

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