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

                                    FORM 10-Q
                 Quarterly Report under Section 13 or 15 (d) of
                         Securities Exchange Act of 1934

                For the quarterly period ended December 31, 2007

                        Commission File Number 333-144840


                             NORTHERN MINERALS INC.
                 (Name of small business issuer in its charter)

        Nevada                                                  20-8624019
(State of incorporation)                                (IRS Employer ID Number)

                                167 Caulder Drive
                        Oakville, Ontario, Canada L6J 4T2
                                 (905) 248-3277
          (Address and telephone number of principal executive offices)

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

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

There were 3,400,000 shares of Common Stock outstanding as of December 31, 2007.

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company.

Large accelerated filer [ ]                        Accelerated Filer [ ]

Non-accelerated filer   [ ]                        Smaller reporting company [X]
(Do not check if Smaller reporting company)
<PAGE>
ITEM 1. FINANCIAL STATEMENTS.

The un-audited quarterly financial statements for the period ended December 31,
2007, prepared by the company, immediately follow.


                                       2
<PAGE>
                             NORTHERN MINERALS INC.
                         (An Exploration Stage Company)
                                  Balance Sheet
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                          As of             As of
                                                                       December 31,        March 31,
                                                                          2007               2007
                                                                        --------           --------
<S>                                                                     <C>                <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                                  $ 10,256           $    200
  Subscription receivable                                                     --              5,000
                                                                        --------           --------
TOTAL CURRENT ASSETS                                                      10,256              5,200
                                                                        --------           --------

                                                                        $ 10,256           $  5,200
                                                                        ========           ========

                       LIABILITIES & STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Accounts payable                                                      $     --           $    415
  Loan from a director                                                     3,200                200
  Stock Subscriptions Received                                             9,000                 --
                                                                        --------           --------
TOTAL CURRENT LIABILITIES                                                 12,200                615

TOTAL LIABILITIES                                                         12,200                615

STOCKHOLDERS' EQUITY
  Common stock, ($0.001 par value, 75,000,000 shares authorized;
   3,400,000 shares and 2,400,000 shares issued and outstanding as
   at December 31, 2007 and March 31, 2007                                 3,400              2,400
  Additional paid-in capital                                              13,600              9,600
  Deficit accumulated during exploration stage                           (18,944)            (7,415)
                                                                        --------           --------
TOTAL STOCKHOLDERS' EQUITY                                                (1,944)             4,585
                                                                        --------           --------

       TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                         $ 10,256           $  5,200
                                                                        ========           ========
</TABLE>

                       See Notes to Financial Statements

                                       3
<PAGE>
                             NORTHERN MINERALS INC.
                         (An Exploration Stage Company)
                             Statement of Operations
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                          March 5, 2007
                                                Three Months          Nine Months          (inception)
                                                   Ended                Ended               through
                                                 December 31,         December 31,         December 31,
                                                    2007                 2007                 2007
                                                 ----------           ----------           ----------
<S>                                              <C>                  <C>                  <C>
REVENUES
  Revenues                                       $       --           $       --           $       --
                                                 ----------           ----------           ----------
TOTAL REVENUES                                           --                   --                   --

EXPENSES
  Professional Fees                                   1,500                7,500                7,500
  General & Administrative Expenses                     856                4,029               11,444
                                                 ----------           ----------           ----------
TOTAL GENERAL & ADMINISTRATIVE EXPENSES              (2,356)             (11,529)             (18,944)
                                                 ----------           ----------           ----------

NET INCOME (LOSS)                                $   (2,356)          $  (11,529)          $  (18,944)
                                                 ==========           ==========           ==========

BASIC EARNINGS PER SHARE                         $    (0.00)          $    (0.00)
                                                 ==========           ==========
WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING                        3,400,000            3,061,818
                                                 ==========           ==========
</TABLE>


                       See Notes to Financial Statements

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

<TABLE>
<CAPTION>
                                                                                        March 5, 2007
                                                                      Nine Months        (inception)
                                                                        Ended              through
                                                                      December 31,       December 31,
                                                                         2007               2007
                                                                       --------           --------
<S>                                                                    <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                    $(11,529)          $(18,944)
  Adjustments to reconcile net loss to net cash
   provided by (used in) operating activities:

  Changes in operating assets and liabilities:
    Increase (decrease) in Loan from a director                           3,000              3,200
    Increase (decrease) in Accounts payable                                (415)                --
    Increase (decrease) in Stock Subscriptions Received                   9,000              9,000
    (Increase) decrease in Subscritpion receivable                        5,000                 --
                                                                       --------           --------
          NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES             5,056             (6,744)

CASH FLOWS FROM INVESTING ACTIVITIES

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

CASH FLOWS FROM FINANCING ACTIVITIES
  Issuance of common stock                                                1,000              3,400
  Additional paid-in capital                                              4,000             13,600
                                                                       --------           --------
          NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES             5,000             17,000
                                                                       --------           --------

NET INCREASE (DECREASE) IN CASH                                          10,056             10,256

CASH AT BEGINNING OF PERIOD                                                 200                 --
                                                                       --------           --------

CASH AT END OF YEAR                                                    $ 10,256           $ 10,256
                                                                       ========           ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

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

                       See Notes to Financial Statements

                                       5
<PAGE>
                             NORTHERN MINERALS INC.
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                             AS AT DECEMBER 31, 2007


NOTE 1 - NATURE AND PURPOSE OF BUSINESS

Northern  Minerals Inc. (the "Company") was  incorporated  under the laws of the
State of Nevada on March 5, 2007.  The  Company's  activities  to date have been
limited to organization  and capital  formation.  The Company is "an exploration
stage  company" and has acquired a series of mining claims for  exploration  and
formulated a business plan to investigate the  possibilities of a viable mineral
deposit.

NOTE 2 - NATURE OF SIGNIFICANT ACCOUNTING POLICIES

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid debt instruments purchased with maturity
of three months or less to be cash equivalents.

REVENUE RECOGNITION

The  Company  considers  revenue  to be  recognized  at the time the  service is
performed.

USE OF ESTIMATES

The preparation of the Company's  financial  statements  requires  management to
make estimates and assumptions that affect the amounts reported in the financial
statements  and  accompanying  notes.  Actual  results  could  differ from these
estimates.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The  Company's  short-term  financial  instruments  consist  of  cash  and  cash
equivalents  and  accounts  payable.  The  carrying  amounts of these  financial
instruments  approximate  fair  value  because of their  short-term  maturities.
Financial instruments that potentially subject the Company to a concentration of
credit risk  consist  principally  of cash.  During the year the Company did not
maintain cash deposits at financial  institution in excess of the $100,000 limit
covered by the Federal Deposit Insurance Corporation.  The Company does not hold
or issue financial  instruments  for trading  purposes nor does it hold or issue
interest rate or leveraged derivative financial instruments.

                                       6
<PAGE>
                             NORTHERN MINERALS INC.
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                             AS AT DECEMBER 31, 2007


NOTE 2 - NATURE OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

EARNINGS PER SHARE

Basic Earnings per Share ("EPS") is computed by dividing net income available to
common  stockholders  by the  weighted  average  number of common  stock  shares
outstanding  during the year.  Diluted EPS is  computed  by dividing  net income
available to common stockholders by the weighted-average  number of common stock
shares outstanding  during the year plus potential dilutive  instruments such as
stock  options  and  warrant.  The effect of stock  options  on  diluted  EPS is
determined  through  the  application  of the  treasury  stock  method,  whereby
proceeds received by the Company based on assumed  exercises are  hypothetically
used to repurchase the Company's common stock at the average market price during
the period.  Loss per share is  unchanged  on a diluted  basis since the assumed
exercise of common stock equivalents would have an anti-dilutive effect.

INCOME TAXES

The Company uses the asset and liability  method of accounting  for income taxes
as required by SFAS No. 109 "Accounting for Income Taxes". SFAS 109 requires the
recognition of deferred tax assets and  liabilities  for the expected future tax
consequences of temporary  differences  between the carrying amounts and the tax
basis of  certain  assets  and  liabilities.  Deferred  income  tax  assets  and
liabilities  are computed  annually  for the  difference  between the  financial
statement and tax bases of assets and liabilities that will result in taxable or
deductible amounts in the future, based on enacted tax laws and rates applicable
to the periods in which the  differences  are expected to affect taxable income.
Valuation  allowances  are  established  when  necessary to reduce  deferred tax
assets to the amount  expected  to be  realized.  Income tax  expense is the tax
payable or refundable for the period, plus or minus the change during the period
in deferred tax assets and liabilities.

Deferred income taxes may arise from temporary differences resulting from income
and  expense  items  reported  for  financial  accounting  and tax  purposes  in
different  periods.  Deferred  taxes are  classified as current or  non-current,
depending  on the  classification  of the assets and  liabilities  to which they
relate.  Deferred taxes arising from temporary  differences that are not related
to an asset or liability are classified as current or  non-current  depending on
the periods in which the  temporary  differences  are  expected to reverse.  The
Company had no  significant  deferred  tax items arise during any of the periods
presented.

CONCENTRATION OF CREDIT RISK

The Company does not have any concentration of related financial credit risk.

RECENT ACCOUNTING PRONOUNCEMENTS

The  Company  does not  expect  that the  adoption  of other  recent  accounting
pronouncements will have a material impact to its financial statements.

                                       7
<PAGE>
                             NORTHERN MINERALS INC.
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                             AS AT DECEMBER 31, 2007


NOTE 3 - MINERAL CLAIMS

On March  29,  2007 the  Company  acquired  a 100%  interest  in a total of four
mineral claims located in the Weepah Hills area of Esmeralda County, Nevada.

The claims and related  geological  report were acquired for 1,400,000 shares of
common stock  valued at $.005 per share for a total of $7,000.  These costs have
been expensed as exploration costs during the year ended March 31, 2007.

NOTE 4 - COMMON STOCK

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

On March 5, 2007 the Company  issued  500,000  shares of common  stock to Damian
O'Hara,  a director  and  500,000  shares of common  stock to Nicole  O'Hara,  a
director, for cash in the amount of $0.005 per share for a total of $5,000.

On March 29, 2007 the Company issued a total of 1,400,000 shares of common stock
at $.005 per share to Damian O'Hara in repayment of $7,000 paid on behalf of the
Company for the acquisition of the mining claims.

On July 3, 2007 the Company  issued  1,000,000  shares of common stock to Nicole
O'Hara,  a  director,  for cash in the amount of $0.005 per share for a total of
$5,000.

NOTE 5 - RELATED PARTY TRANSACTIONS

Damian O'Hara and Nicole O'Hara,  the officers and directors of the Company may,
in the future,  become involved in other business  opportunities  as they become
available,  thus they may face a conflict in  selecting  between the Company and
their other business opportunities.  The Company has not formulated a policy for
the resolution of such conflicts.

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

                                       8
<PAGE>
                             NORTHERN MINERALS INC.
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                             AS AT DECEMBER 31, 2007


NOTE 6 - GOING CONCERN

The accompanying  financial  statements have been prepared  assuming the Company
will  continue  as a going  concern.  As  shown  in the  accompanying  financial
statements,  the  Company  has no sales and has  incurred  a net loss of $18,944
since  inception.  The future of the  Company is  dependent  upon its ability to
obtain financing and upon future  profitable  operations form the development of
its mineral properties.  The financial statements do not include any adjustments
relating to the  recoverability  and  classifications of recorded assets, or the
amounts of and  classification  of  liabilities  that might be  necessary in the
event the Company cannot continue in existence.

Management  plans to raise  additional  funds through debt or equity  offerings.
Management's  current plan includes a SB-2 registration  statement with the U.S.
Securities  and Exchange  Commission  of  2,000,000  shares for sale at $.02 per
share to raise capital of $40,000 to implement their business plan.  There is no
guarantee that the Company will be able to raise any capital through this or any
other offerings.

                                       9
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements. Any
statements contained herein that are not statements of historical fact may be
deemed to be forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act. The words "believes," "anticipates," "plans," "seeks,"
"expects," "intends" and similar expressions identify some of the
forward-looking statements. Forward-looking statements are not guarantees of
performance or future results and involve risks, uncertainties and assumptions.
The factors discussed elsewhere in this Form 10-Q could also cause actual
results to differ materially from those indicated by the Company's
forward-looking statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statements.

BUSINESS AND PLAN OF OPERATION

Northern Minerals Inc. was incorporated in the State of Nevada on March 5, 2007
to engage in the acquisition, exploration and development of natural resource
properties. We are an exploration stage company with no revenues or operating
history.

Our plan of operation for the twelve months following the close of our offering
is to complete the first two phases of the exploration program. In addition to
the $25,000 we anticipate spending for the exploration program as outlined
below, we anticipate spending an additional $15,000 on professional fees,
including fees payable in complying with reporting obligations, and general
administrative costs. Total expenditures over the next 12 months are therefore
expected to be approximately $40,000, which is the amount to be raised in our
offering. We will require the funds from the offering to proceed.

The following work program has been recommended by the consulting geologist.

PHASE 1

Detailed prospecting, mapping and MMI soil geochemistry.
This program is expected to take 30-45 days to complete
including turnaround time on the analyses that are
conducted exclusively in Australia. The estimated cost for
this all inclusive program is                                         $10,000

PHASE 2

Magnetometer and VLF electromagnetic, grid controlled
surveys over the areas of interest determined by the Phase
1 survey. This program is expected to take two weeks to
complete. Included in this estimated cost is
transportation, accommodation, board, grid installation,
the two geophysical surveys, maps and report                          $15,000

                                       10
<PAGE>
PHASE 3

Induced polarization and EM-resistivity surveys over grid
controlled anomalous areas of interest outlined by the
Phase 1&2 fieldwork. The estimated time to complete this
phase is three weeks. Hoe or bulldozer trenching, mapping
and sampling of bedrock anomalies. Includes assays,
detailed maps and reports                                             $35,000
                                                                      -------

                                            Total                     $60,000
                                                                      =======

Each phase following phase 1 is contingent upon favorable results from the
previous phase. If we are successful in raising the funds from our offering we
plan to commence Phase 1 of the exploration program on the claims in the Spring
of 2008. We expect this phase to take 30 - 45 days to complete.

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

Following phase one of the exploration program, if it proves successful in
identifying mineral deposits, we intend to proceed with phase two of our
exploration program. The estimated cost of this program is $15,000 and will take
approximately 2 weeks to complete.

Following phase two of the exploration program, if it proves successful, and we
can raise necessary funding, we intend to proceed with phase three of our
exploration program. The estimated cost of this program is $35,000 and will take
approximately 3 weeks to complete.

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

LIQUIDITY AND CAPITAL RESOURCES

Our cash in the bank at December 31, 2007 was $10,256. To satisfy our cash
requirements we need to complete our offering of 2,000,000 shares registered
pursuant to a SB-2 Registration Statement which became effective on October 12,
2007. If we are able to complete the offering it will provide proceeds of
$40,000 to implement our exploration program.

RESULTS OF OPERATIONS

We are still in our development stage and have no revenues to date.

                                       11
<PAGE>
We incurred operating expenses of $2,356 and $11,529 for the three and nine
month periods ended December 31, 2007, respectively. These expenses consisted of
general operating expenses incurred in connection with the day to day operation
of our business and the filing of our SB-2 Registration Statement. Our net loss
since inception through December 31, 2007 was $18,944. Since we have only been
incorporated since March 5, 2007, no comparisons are included in this report to
previous years.

If we experience a shortage of funds prior to funding we may utilize funds from
our directors, who have informally agreed to advance funds to allow us to pay
for offering costs, filing fees, and professional fees, however they have no
formal commitment, arrangement or legal obligation to advance or loan funds to
the company. If they fail to do so we may be required to terminate our business
unless we receive funding from the offering, which is an all-or-none offering,
meaning we must sell all the shares in order to receive funding. In order to
achieve our business plan goals, we will need the funding from this offering. We
are an exploration stage company and have generated no revenue to date. We have
sold $10,000 in equity securities to pay for our minimum level of operations. We
have issued 1,400,000 shares of common stock to Damian O'Hara in repayment of
$7,000 paid on behalf of the company for the acquisition of the mining claims.

Our auditor has issued a going concern opinion. This means that there is
substantial doubt that we can continue as an on-going business for the next
twelve months unless we obtain additional capital to pay our bills. This is
because we have not generated revenues and no revenues are anticipated until we
begin removing and selling minerals. There is no assurance we will ever reach
that point.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

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

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have no identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

                                       12
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

Northern Minerals Inc. is not currently involved in any legal proceedings and we
are not aware of any pending or potential legal actions.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

There were no sales of unregistered securities during the period covered by this
report.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

There were no defaults upon senior securities during the period covered by this
report.

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

There were no matters submitted to a vote of security holders during the period
covered by this report.

ITEM 5. OTHER INFORMATION.

There was no information required to be disclosed on Form 8-K during the period
covered by this report.

ITEM 6. EXHIBITS.

The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in their entirety in our original Form SB-2
Registration Statement, filed under SEC File Number 333-144840, at the SEC
website at www.sec.gov:

     Exhibit No.                  Description
     -----------                  -----------

        3.1           Articles of Incorporation*
        3.2           Bylaws*
       31.1           Rule 13a-14(a)/15d-14(a) Certification
       31.2           Rule 13a-14(a)/15d-14(a) Certification
       32.1           Certification Pursuant to 18 U.S.C. 1350
       32.2           Certification Pursuant to 18 U.S.C. 1350

                                       13
<PAGE>
                                   SIGNATURES

Pursuant to the requirements 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.

February 12, 2008                 Northern Minerals Inc., Registrant


                                      /s/ Damian O'Hara
                                      ------------------------------------------
                                  By: Damian O'Hara, President & Director
                                      (Chief Executive Officer, Principal
                                      Financial Officer & Principal
                                      Accounting Officer)


                                      /s/ Nicole O'Hara
                                      ------------------------------------------
                                  By: Nicole O'Hara
                                      (Director, Secretary)

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


/s/ Damian O'Hara                                              February 12, 2008
-------------------------------------                          -----------------
Damian O'Hara, President & Director                                   Date
(Chief Executive Officer, Principal Financial
Officer, Principal Accounting Officer)


/s/ Nicole O'Hara                                              February 12, 2008
-------------------------------------                          -----------------
Nicole O'Hara, Secretary & Director                                   Date

                                       14