**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-Q**

**(Mark      One)**

|   |   |                                                                                                                           |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|
| þ |   | **Quarterly                Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act                of 1934** |

**For      the Quarterly Period Ended June 30, 2008 **

**or**

|   |   |                                                                                                                            |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|
| o      |   | **Transition                Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act                of 1934** |

**For      the Transition Period from **
**                    **
**      to **
**                    **
** **

**Commission      File Number 000-52696**

**DOMINION      MINERALS CORP.**

|                                           |   |                                                |
|------------------------------------------------|--------|-----------------------------------------------------|
| **Delaware**                              |   | **22-3091075**                                      |
| (State                or Other Jurisdiction of |   | (I.R.S.                Employer Identification No.) |
| Incorporation                or Organization)  |   |                                                |

| **75                Rockefeller Plaza, Suite 1817**                                 |
|-------------------------------------------------------------------------------------|
| **New                York, New York 10019**                                         |
| (Address                of principal executive offices and zip                code) |

|                                                     |         |                                               |
|----------------------------------------------------------|--------------|----------------------------------------------------|
| Large                accelerated filer   ̈ |    | Accelerated                filer   ̈ |

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

----

|                                     |   | JUNE                30, |      |
|------------------------------------------|--------|-------------------------|-----------|
|                                     |   | 2008                    |      |
|                                     |   | (UNAUDITED)             |      |
| CURRENT                ASSETS:           |   |                    |      |
| Cash                and cash equivalents |   | $                       | 770,103   |   |
| Prepaid                expense           |   |                    | 23,529    |   |
| Total                current assets      |   |                    | 793,632   |   |
|                                     |   |                    |      |   |
| EQUIPMENT,                net            |   |                    | 40,821    |   |
|                                     |   |                    |      |   |
| OTHER                ASSETS:             |   |                    |      |   |
| Notes                issuance cost, net  |   |                    | 63,525    |   |
| Other                assets              |   |                    | 12,000    |   |
| Long                term investment      |   |                    | 4,643,259 |   |
| Total                other assets        |   |                    | 4,718,784 |   |
|                                     |   |                    |      |   |
| Total                assets              |   | $                       | 5,553,237 |   |
|                                     |   |                    |      |   |

| CURRENT                LIABILITIES:                                             |   |   |        |
|---------------------------------------------------------------------------------|--------|--------|-------------|
| Accrued                liabilities                                              |   | $      | 746,011     |   |
| Short-term                loan                                                  |   |   | 1,725,949   |   |
| Convertible                note payable                                         |   |   | 550,000     |   |
| Liquidated                damages payable                                       |   |   | 196,050     |   |
| Total                current liabilities                                        |   |   | 3,218,010   |   |
|                                                                            |   |   |        |   |
| COMMITMENTS                AND CONTINGENCIES                                    |   |   | -           |   |
|                                                                            |   |   |        |   |
| SHAREHOLDERS'                EQUITY:                                            |   |   |        |   |
| Preferred                stock, $0.0001 par value; 5,000,000 shares authorized; |   |   |        |   |
| 100                shares issued and outstanding as of June 30, 2008            |   |   | -           |   |
| Common                stock, $0.0001 par value; 700,000,000 shares authorized   |   |   |        |   |
| 47,405,696                issued and outstanding as of June 30, 2008            |   |   | 4,741       |   |
| Escrowed                common stock                                            |   |   | (134        | ) |
| Additional                paid-in capital                                       |   |   | 15,161,470  |   |
| Stock                subscription receivable                                    |   |   | (1,560      | ) |
| Deficit                accumulated during the exploration stage                 |   |   | (12,885,789 | ) |
| Accumulated                other comprehensive income                           |   |   | 56,499      |   |
| Total                shareholders' equity                                       |   |   | 2,335,227   |   |
|                                                                            |   |   |        |   |
| Total                liabilities and shareholders' equity                       |   | $      | 5,553,237   |   |

----

DOMINION      MINERALS CORP. AND SUBSIDIARIES

|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |
|----------------------------------------------------------------------|--------|-----------------------------------|------------|---------------------------------|--------|--------------------------------|--------|--------|------------|--------|--------|
|                                                                 |   |                              |       |                            |   | From                inception  |   |
|                                                                 |   | Three                months ended |       | Six                months ended |   | (March                1, 2006) |   |
|                                                                 |   | June                30,           |       | June                30,         |   | to                June 30,     |   |
|                                                                 |   | 2008                              |       | 2007                            |   | 2008                           |   | 2007   |       | 2008   |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |
| REVENUE                                                              |   | $                                 | -          |                            | $      | -                              |   | $      | -          |   | $      | - |   | $ | - |   |
| COST                OF SALES                                         |   |                              | -          |                            |   | -                              |   |   | -          |   |   | - |   |   | - |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| GROSS                PROFIT                                          |   |                              | -          |                            |   | -                              |   |   | -          |   |   | - |   |   | - |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| RESEARCH                AND DEVELOPMENT COSTS                        |   |                              | 57,747     |                            |   | 76,776                         |   |   | 104,336    |   |   | 275,735 |   |   | 884,688 |   |
| GENERAL                AND ADMINISTRATIVE EXPENSES                   |   |                              | 2,769,235  |                            |   | 350,121                        |   |   | 4,133,049  |   |   | 2,545,411 |   |   | 11,181,182 |   |
| LIQUIDATED                DAMAGE EXPENSE                             |   |                              | 84,225     |                            |   | -                              |   |   | 196,050    |   |   |    |   |   | 196,050 |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| LOSS                FROM OPERATIONS                                  |   |                              | (2,911,207 | )                               |   | (426,897                       | )      |   | (4,433,435 | )      |   | (2,821,146 | ) |   | (12,261,920 | ) |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| OTHER                (EXPENSE) INCOME, NET                           |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| Non-operating                income, net                             |   |                              | 2,516      |                            |   | 10,117                         |   |   | (25,000    | )      |   | 10,117 |   |   | (14,670 | ) |
| Interest                expense, net                                 |   |                              | (106,215   | )                               |   | 1,995                          |   |   | (116,229   | )      |   | 4,354 |   |   | (210,110 | ) |
| Finance                expense                                       |   |                              | (177,242   | )                               |   | -                              |   |   | (399,089   | )      |   |    |   |   | (399,089 | ) |
| Total                other (expense) income, net                     |   |                              | (280,941   | )                               |   | 12,112                         |   |   | (540,318   | )      |   | 14,471 |   |   | (623,869 | ) |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| LOSS                BEFORE PROVISION FOR INCOME TAXES                |   |                              | (3,192,148 | )                               |   | (414,785                       | )      |   | (4,973,753 | )      |   | (2,806,675 | ) |   | (12,885,789 | ) |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| PROVISION                FOR INCOME TAXES                            |   |                              | -          |                            |   | -                              |   |   | -          |   |   | - |   |   | - |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| NET                LOSS                                              |   |                              | (3,192,148 | )                               |   | (414,785                       | )      |   | (4,973,753 | )      |   | (2,806,675 | ) |   | (12,885,789 | ) |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| OTHER                COMPREHENSIVE INCOME                            |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| Foreign                currency translation adjustment               |   |                              | 7,591      |                            |   | 1,338                          |   |   | 31,333     |   |   | 5,413 |   |   | 56,499 |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| COMPREHENSIVE                LOSS                                    |   | $                                 | (3,184,557 | )                               | $      | (413,447                       | )      | $      | (4,942,420 | )      | $      | (2,801,262 | ) | $ | (12,829,290 | ) |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| LOSS                PER SHARE                                        |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| Basic                and diluted loss per share                      |   | $                                 | (0.07      | )                               | $      | (0.01                          | )      | $      | (0.11      | )      | $      | (0.09 | ) |   |   |   |
|                                                                 |   |                              |       |                            |   |                           |   |   |       |   |   |   |   |   |   |   |
| Basic                and diluted weighted average shares outstanding |   |                              | 46,479,585 |                            |   | 39,667,252                     |   |   | 44,531,939 |   |   | 32,445,025 |   |   |   |   |

----

|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   | ACCUMULATED                  |       |   |   |
|-----------------------------------------------------------------------------|--------|----------------------------------|--------|-------------------------------|--------|-----------------------------------|--------|---------|------------|--------------|--------|-------------|--------|---------------|------------|---------------|--------|---------|--------|------------------------------|------------|--------|--------|
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   | ADDITIONAL    |       | STOCK         |   |    |   | OTHER                        |       | TOTAL  |   |
|                                                                        |   | PREFERRED                  STOCK |   | COMMON                  STOCK |   | SHARES                  IN ESCROW |   | PAID-IN |       | SUBSCRIPTION |   | ACCUMULATED |   | COMPREHENSIVE |       | SHAREHOLDERS' |   |
|                                                                        |   | SHARES                           |   | PAR                           |   | SHARES                            |   | PAR     |       | SHARES       |   | PAR         |   | CAPITAL       |       | RECEIVABLE    |   | DEFICIT |   | GAIN                  (LOSS) |       | EQUITY |   |
| Balance                  at inception, March 1, 2006                        |   |                             | -      |                          | $      | -                                 |   |    | -          |         | $      | -           |   |          | -          |          | $      | -       |   | $                            | -          |   | $      | - |   | $ | - |   | $ | - |   | $ | - |   |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Founders                  stock issued for cash, $0.001 per share           |   |                             |   |                          |   |                              |   |    | 6,460,000  |         |   | 646         |   |          |       |          |   |    |   |                         | 5,814      |   |   | (3,060 | ) |   |   |   |   |   |   |   | 3,400 |   |
| Shares                  issued March 29, 2006 for $76,500 in services       |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and                  $8,500 cash, at $0.01 per share                        |   |                             |   |                          |   |                              |   |    | 8,500,000  |         |   | 850         |   |          |       |          |   |    |   |                         | 84,150     |   |   |   |   |   |   |   |   |   |   |   | 85,000 |   |
| Stock                  sold through subscription agreements                 |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| April                  through December 2006                                |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| at                  $0.50 per share                                         |   |                             |   |                          |   |                              |   |    | 5,505,000  |         |   | 551         |   |          |       |          |   |    |   |                         | 2,751,949  |   |   |   |   |   |   |   |   |   |   |   | 2,752,500 |   |
| Stock                  issued through the exercise of warrants              |   |                             |   |                          |   |                              |   |    | 20,000     |         |   | 2           |   |          |       |          |   |    |   |                         | 1,998      |   |   |   |   |   |   |   |   |   |   |   | 2,000 |   |
| Stock                  warrants issued to employees                         |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 474        |   |   |   |   |   |   |   |   |   |   |   | 474 |   |
| Stock                  warrants issued to consultants for advisory services |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 197,113    |   |   |   |   |   |   |   |   |   |   |   | 197,113 |   |
| Foreign                  currency translation loss                          |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   | (2,651 | ) |   | (2,651 | ) |
| Net                  loss                                                   |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   | (2,123,672 | ) |   |   |   |   | (2,123,672 | ) |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2006                                 |   |                             | -      |                          | $      | -                                 |   |    | 20,485,000 |         | $      | 2,049       |   |          | -          |          | $      | -       |   | $                            | 3,041,498  |   | $      | (3,060 | ) | $ | (2,123,672 | ) | $ | (2,651 | ) | $ | 914,164 |   |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock                  issued                                               |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $0.10                  per share, conversion of warrants for cash           |   |                             |   |                          |   |                              |   |    | 450,000    |         |   | 45          |   |          |       |          |   |    |   |                         | 44,955     |   |   |   |   |   |   |   |   |   |   |   | 45,000 |   |
| $0.10                  per share, cashless conversion of warrants           |   |                             |   |                          |   |                              |   |    | 1,600,000  |         |   | 160         |   |          |       |          |   |    |   |                         | (160       | )      |   |   |   |   |   |   |   |   |   |   | - |   |
| $0.50                  per share, CEO for compensation                      |   |                             |   |                          |   |                              |   |    | 1,500,000  |         |   | 150         |   |          |       |          |   |    |   |                         | 749,850    |   |   |   |   |   |   |   |   |   |   |   | 750,000 |   |
| $0.50                  per share, for cash                                  |   |                             |   |                          |   |                              |   |    | 1,994,000  |         |   | 199         |   |          |       |          |   |    |   |                         | 996,801    |   |   | (210,000 | ) |   |   |   |   |   |   |   | 787,000 |   |
| $0.50                  per share, for consulting services                   |   |                             |   |                          |   |                              |   |    | 1,475,000  |         |   | 148         |   |          |       |          |   |    |   |                         | 737,352    |   |   |   |   |   |   |   |   |   |   |   | 737,500 |   |
| $0.50                  per share, for investment in Cuprum                  |   |                             |   |                          |   |                              |   |    | 4,000,000  |         |   | 400         |   |          | (2,666,667 | )             |   | (267    | )      |                         | 666,533    |   |   |   |   |   |   |   |   |   |   |   | 666,666 |   |
| $0.50                  per share, for conversion of notes                   |   |                             |   |                          |   |                              |   |    | 100,000    |         |   | 10          |   |          |       |          |   |    |   |                         | 49,990     |   |   |   |   |   |   |   |   |   |   |   | 50,000 |   |
| $0.013                  per share, for conversion of Xacord note            |   |                             |   |                          |   |                              |   |    | 7,925,000  |         |   | 793         |   |          |       |          |   |    |   |                         | 105,278    |   |   |   |   |   |   |   |   |   |   |   | 106,071 |   |
| Shares                  assumed pursuant to reverse merger                  |   |                             | 100    |                          |   |                              |   |    | 232,696    |         |   | 23          |   |          |       |          |   |    |   |                         | (135,230   | )      |   |   |   |   |   |   |   |   |   |   | (135,207 | ) |
| Repurchase                  preferred stock                                 |   |                             | (100   | )                             |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | (10,000    | )      |   |   |   |   |   |   |   |   |   |   | (10,000 | ) |
| Warrants                  issued with convertible note                      |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 14,276     |   |   |   |   |   |   |   |   |   |   |   | 14,276 |   |
| Proceeds                  on subscription receivable                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   | 200 |   |   |   |   |   |   |   |   | 200 |   |
| Foreign                  currency translation gain                          |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   | 5,413 |   |   | 5,413 |   |
| Net                  loss                                                   |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   | (2,806,675 | ) |   |   |   |   | (2,806,675 | ) |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2007, unaudited                          |   |                             | -      |                          |   | -                                 |   |    | 39,761,696 |         |   | 3,977       |   |          | (2,666,667 | )             |   | (267    | )      |                         | 6,261,143  |   |   | (212,860 | ) |   | (4,930,347 | ) |   | 2,762 |   |   | 1,124,408 |   |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds                  on subscription receivable                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   | 1,300 |   |   |   |   |   |   |   |   | 1,300 |   |
| Stock                  issued                                               |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $0.50                  per share, for cash                                  |   |                             |   |                          |   |                              |   |    | 1,320,000  |         |   | 132         |   |          |       |          |   |    |   |                         | 659,868    |   |   | 210,000 |   |   |   |   |   |   |   |   | 870,000 |   |
| $0.50                  per share, for consulting services                   |   |                             |   |                          |   |                              |   |    | 824,000    |         |   | 82          |   |          |       |          |   |    |   |                         | 411,918    |   |   |   |   |   |   |   |   |   |   |   | 412,000 |   |
| $0.50                  per share, for loan issuance cost                    |   |                             |   |                          |   |                              |   |    | 700,000    |         |   | 70          |   |          |       |          |   |    |   |                         | 349,930    |   |   |   |   |   |   |   |   |   |   |   | 350,000 |   |
| Warrants                  issued with convertible note                      |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 53,151     |   |   |   |   |   |   |   |   |   |   |   | 53,151 |   |
| Special                  warrants issued                                    |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issued                  for cash                                            |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 2,230,000  |   |   |   |   |   |   |   |   |   |   |   | 2,230,000 |   |
| Issued                  with convertible promissory note                    |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 500,000    |   |   |   |   |   |   |   |   |   |   |   | 500,000 |   |
| Preferred                  stock issued for compensation expense            |   |                             | 100    |                          |   | -                                 |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 10,000     |   |   |   |   |   |   |   |   |   |   |   | 10,000 |   |
| Stock                  compensation expense                                 |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 594,370    |   |   |   |   |   |   |   |   |   |   |   | 594,370 |   |
| Foreign                  currency translation gain                          |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   | 22,404 |   |   | 22,404 |   |
| Net                  loss                                                   |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   | (2,981,689 | ) |   |   |   |   | (2,981,689 | ) |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2007                                 |   |                             | 100    |                          | $      | -                                 |   |    | 42,605,696 |         | $      | 4,261       |   |          | (2,666,667 | )             | $      | (267    | )      | $                            | 11,070,380 |   | $      | (1,560 | ) | $ | (7,912,036 | ) | $ | 25,166 |   | $ | 3,185,944 |   |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Release                  of escrow shares                                   |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          | 1,333,334  |          |   | 133     |   |                         | 666,534    |   |   |   |   |   |   |   |   |   |   |   | 666,667 |   |
| Shares                  issued to extend convertible note                   |   |                             |   |                          |   |                              |   |    | 250,000    |         |   | 25          |   |          |       |          |   |    |   |                         | 124,975    |   |   |   |   |   |   |   |   |   |   |   | 125,000 |   |
| Shares                  issued as employee compensation                     |   |                             |   |                          |   |                              |   |    | 4,550,000  |         |   | 455         |   |          |       |          |   |    |   |                         | 2,274,545  |   |   |   |   |   |   |   |   |   |   |   | 2,275,000 |   |
| Special                  warrants issued for cash                           |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 77,500     |   |   |   |   |   |   |   |   |   |   |   | 77,500 |   |
| Stock                  compensation expense                                 |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         | 947,536    |   |   |   |   |   |   |   |   |   |   |   | 947,536 |   |
| Foreign                  currency translation gain                          |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   | 31,333 |   |   | 31,333 |   |
| Net                  loss                                                   |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   | (4,973,753 | ) |   |   |   |   | (4,973,753 | ) |
|                                                                        |   |                             |   |                          |   |                              |   |    |       |         |   |        |   |          |       |          |   |    |   |                         |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2008, unaudited                          |   |                             | 100    |                          | $      | -                                 |   |    | 47,405,696 |         | $      | 4,741       |   |          | (1,333,333 | )             | $      | (134    | )      | $                            | 15,161,470 |   | $      | (1,560 | ) | $ | (12,885,789 | ) | $ | 56,499 |   | $ | 2,335,227 |   |

----

DOMINION      MINERALS CORP. AND SUBSIDIARIES

|                                                                                               |   |                            |       | From                inception  |   |
|----------------------------------------------------------------------------------------------------|--------|---------------------------------|------------|--------------------------------|--------|
|                                                                                               |   | Six                months ended |       | (March                1, 2006) |   |
|                                                                                               |   | June                30,         |       | to                June 30,     |   |
|                                                                                               |   | 2008                            |       | 2007                           |   | 2008 |   |
|                                                                                               |   |                            |       |                           |   |   |   |
| CASH                FLOWS FROM OPERATING ACTIVITIES:                                               |   |                            |       |                           |   |   |   |
| Net                loss                                                                            |   | $                               | (4,973,753 | )                              | $      | (2,806,675 | ) | $ | (12,885,789 | ) |
| Adjustments                to reconcile net loss to net cash                                       |   |                            |       |                           |   |   |   |   |   |   |
| used                in operating activities:                                                       |   |                            |       |                           |   |   |   |   |   |   |
| Depreciation                                                                                       |   |                            | 6,302      |                           |   | 4,637 |   |   | 15,649 |   |
| Bad                debt expense                                                                    |   |                            | -          |                           |   | - |   |   | 80,000 |   |
| Warrants                issued for services                                                        |   |                            | -          |                           |   | - |   |   | 197,587 |   |
| Amortization                of debt discount                                                       |   |                            | -          |                           |   | - |   |   | 31,641 |   |
| Amortization                of loan issuance cost                                                  |   |                            | 240,090    |                           |   | - |   |   | 446,262 |   |
| Common                stock issued for advisory services                                           |   |                            | -          |                           |   | 1,487,500 |   |   | 1,906,479 |   |
| Stock                option expense                                                                |   |                            | 947,536    |                           |   | - |   |   | 1,541,906 |   |
| Common                stock issued for notes                                                       |   |                            | 125,000    |                           |   | - |   |   | 125,000 |   |
| Common                stock issued for employee compensation                                       |   |                            | 2,275,000  |                           |   | - |   |   | 2,275,000 |   |
| Preferred                stock issued for employee compensation                                    |   |                            | -          |                           |   | - |   |   | 10,000 |   |
| Loss                on currency exchange                                                           |   |                            | 1,048      |                           |   | - |   |   | 12,128 |   |
| Change                in operating assets and liabilities:                                         |   |                            |       |                           |   |   |   |   |   |   |
| Prepaid                expense                                                                     |   |                            | 45,992     |                           |   | - |   |   | 45,992 |   |
| Other                assets                                                                        |   |                            | (12,000    | )                              |   | - |   |   | (12,000 | ) |
| Accrued                liabilities                                                                 |   |                            | 219,789    |                           |   | 98,470 |   |   | 746,093 |   |
| Liquidated                damage expense                                                           |   |                            | 196,050    |                           |   | - |   |   | 196,050 |   |
| Net                cash used in operating activities                                               |   |                            | (928,946   | )                              |   | (1,216,068 | ) |   | (5,268,002 | ) |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES:                                               |   |                            |       |                           |   |   |   |   |   |   |
| Equipment                purchase                                                                  |   |                            | (3,271     | )                              |   | (2,098 | ) |   | (49,759 | ) |
| Long                term investment                                                                |   |                            | (1,256,314 | )                              |   | (978,065 | ) |   | (3,309,928 | ) |
| Advances                for notes receivable                                                       |   |                            | -          |                           |   | - |   |   | (80,000 | ) |
| Net                cash used in investing activities                                               |   |                            | (1,259,585 | )                              |   | (980,163 | ) |   | (3,439,687 | ) |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES:                                               |   |                            |       |                           |   |   |   |   |   |   |
| Proceeds                from sale of common stock                                                  |   |                            | -          |                           |   | 997,000 |   |   | 4,421,400 |   |
| Proceeds                from special warrants                                                      |   |                            | 77,500     |                           |   | 45,000 |   |   | 2,298,420 |   |
| Proceeds                from exercise of warrants                                                  |   |                            | -          |                           |   | - |   |   | 45,000 |   |
| Payment                of note issuance cost                                                       |   |                            | -          |                           |   | - |   |   | (74,000 | ) |
| Payment                on notes payables                                                           |   |                            | (100,000   | )                              |   | (25,000 | ) |   | (425,000 | ) |
| Proceeds                from short term loan                                                       |   |                            | 75,868     |                           |   | - |   |   | 75,868 |   |
| Proceeds                from notes payable                                                         |   |                            | 2,000,000  |                           |   | 455,000 |   |   | 3,105,000 |   |
| Proceeds                from subscription receivable                                               |   |                            | -          |                           |   | 200 |   |   | 1,500 |   |
| Payment                to repurchase preferred stock                                               |   |                            | -          |                           |   | (10,000 | ) |   | (10,000 | ) |
| Net                cash provided by financing activities                                           |   |                            | 2,053,368  |                           |   | 1,462,200 |   |   | 9,438,188 |   |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| EFFECT                OF EXCHANGE RATE CHANGES ON CASH                                             |   |                            | 27,150     |                           |   | (6,316 | ) |   | 39,604 |   |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| NET                (DECREASE)                INCREASE IN CASH AND CASH EQUIVALENTS                 |   |                            | (108,013   | )                              |   | (740,347 | ) |   | 770,103 |   |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| CASH                AND CASH EQUIVALENTS, beginning of the period                                  |   |                            | 878,116    |                           |   | 1,047,877 |   |   | - |   |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| CASH                AND CASH EQUIVALENTS, end of period                                            |   | $                               | 770,103    |                           | $      | 307,530 |   | $ | 770,103 |   |
|                                                                                               |   |                            |       |                           |   |   |   |   |   |   |
| SUPPLEMENTAL                DISCLOSURES:                                                           |   |                            |       |                           |   |   |   |   |   |   |
| Interest                paid                                                                       |   | $                               | -          |                           | $      | - |   | $ | 66,024 |   |
| Income                taxes paid                                                                   |   | $                               | -          |                           | $      | - |   | $ | - |   |
| Net                liabilities assumed in reverse acquisition                                      |   | $                               | -          |                           | $      | - |   | $ | 135,207 |   |
| Conversion                of notes and interest for common stock                                   |   | $                               | -          |                           | $      | - |   | $ | 106,071 |   |
| Issuance                of founders stock for subscription receivable                              |   | $                               | -          |                           | $      | - |   | $ | 14,960 |   |
| Shares                issued for exploration and development of investment                         |   | $                               | 666,666    |                           | $      | - |   | $ | 1,333,332 |   |
| Common                stock issued to prepay for consulting services                               |   | $                               | -          |                           | $      | - |   | $ | 69,521 |   |
| Special                warrants issued for repayment of convertible promissory                note |   | $                               | -          |                           | $      | - |   | $ | 500,000 |   |
| Warrants                issued for discount on debt                                                |   | $                               | -          |                           | $      | - |   | $ | 31,641 |   |
| Warrants                issued for loan issuance costs                                             |   | $                               | -          |                           | $      | - |   | $ | 35,786 |   |
| Common                stock issued for loan issuance cost                                          |   | $                               | 240,090    |                           | $      | - |   | $ | 446,262 |   |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| 1. | Nature                  of Business and Significant Accounting                  Policies |
|----|------------------------------------------------------------------------------------------|

|   | a. | Nature                  of business                  -                  Dominion Minerals Corp. (“Company”) (formerly Empire Minerals Corp.) was                  incorporated January 4, 1996 under the laws of Delaware. The Company                  is                  engaged in the exploration of precious and base metals including                  gold and                  copper. All potential properties currently under exploration are                  located                  in the People’s Republic of China (“PRC”) and                  Panama. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Basis                  of presentation                  -                  The accompanying consolidated financial statements have been prepared                  in                  accordance with accounting principles generally accepted in the                  United                  States of America. The consolidated financial statements include                  the                  financial statements of the Company, its wholly owned subsidiaries                  Empire                  Minerals Corp., 50% owned Zhaoyuan Dongxing Gold Mining Co., Ltd.                  (“Dongxing”), and 70% owned Empire (Tianjin) Resources Co., Ltd.                  (“Tianjin”) (together the “Subsidiaries”). All significant inter-company                  transactions and balances are eliminated upon consolidation. Minority                  interest has not been presented on the consolidated balance sheet                  because                  accumulated losses have exceeded the minority shareholders’ equity. In                  accordance with APB No. 18, the minority interest has been written                  down to                  zero on the accompanying balance sheet. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | c. | Use                  of estimates                  -                  The preparation of financial statements in conformity with accounting                  principles generally accepted in the United States of America requires                  management to make estimates and assumptions that affect certain                  reported                  amounts and disclosures, such as the fair value of warrants and                  stock                  issued for services as well as various accruals, for example, we                  must                  calculate the fair value of options granted based on various assumptions.                  Accordingly, the actual results could differ from those                  estimates. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | Fair                  value of financial instruments                  -                  On January 1, 2008, the Company adopted SFAS No. 157. SFAS No.                  157, Fair                  Value Measurements, defines fair value, establishes a three-level                  valuation hierarchy for disclosures of fair value measurement and                  enhances                  disclosures requirements for fair value measures. The carrying                  amounts                  reported in the balance sheets for current assets and current liabilities                  qualify as financial instruments are a reasonable estimate of fair                  value                  because of the short period of time between the origination of                  such                  instruments and their expected realization and their current market                  rate                  of interest. The three levels are defined as                  follow: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level                  1 inputs to the valuation methodology are quoted prices (unadjusted)                  for                  identical assets or liabilities in active                  markets. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level                  2 inputs to the valuation methodology include quoted prices for                  similar                  assets and liabilities in active markets, and inputs that are observable                  for the assets or liability, either directly or indirectly, for                  substantially the full term of the financial                  instruments. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level                  3 inputs to the valuation methodology are unobservable and significant                  to                  the fair value. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | Cash                  and cash equivalents                  -                  For purposes of the statements of cash flows, the Company defines                  cash                  equivalents as all highly liquid debt instruments purchased with                  an                  original maturity of three months or less. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | f. | Advances                  -                  From time to time, the Company advances funds to its consultants                  and                  business partners to further the Company’s business plans. Management                  monitors these advances to ensure appropriate progress is made                  pursuant to                  the funding terms. Additionally, management evaluates the collectability                  of these monies and records reserves if collections are in doubt. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | g. | Concentration                  of risk                  -                  Financial instruments, which potentially subject the Company to                  concentrations of credit risk, consist of cash and cash equivalents.                  The                  Company places its cash with high quality financial institutions                  and at                  times may exceed the FDIC $100,000 insurance limit. The Company                  has                  limited experience as it is an exploration stage company but does                  not                  anticipate incurring any losses related to this credit risk. As                  of June                  30, 2008, the Company had amounts in bank accounts in excess of                  FDIC                  insurance of $884,597. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | h. | Net                  loss per share                  -                  In accordance with Statement of Financial Accounting Standard (SFAS)                  No.                  128, *Earnings                  Per Share,*an                  basic earnings/loss per common share (EPS) is computed by dividing                  net                  loss for the period by the weighted average number of common shares                  outstanding during the period. Under SFAS 128, diluted earnings/loss                  per                  share is computed similar to basic loss per share except that the                  denominator is increased to include the number of additional common                  shares                  that would have been outstanding if the potential common shares                  had been                  issued and dilutive. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Three                  months ended June 30,                         |   | 2008   |       | 2007   |   |
|----------------------------------------------------------------------|--------|--------|------------|--------|--------|
| Net                  loss                                            |   | $      | 3,192,148  |   | $      | 414,785 |   |
|                                                                 |   |   |       |   |   |   |   |
| Weighted                  average shares used in basic computation   |   |   | 46,479,585 |   |   | 39,667,252 |   |
| Diluted                  effect of stock options, warrants           |   |   | -          |   |   | - |   |
| Weighted                  average shares used in diluted computation |   |   | 46,479,585 |   |   | 39,667,252 |   |
|                                                                 |   |   |       |   |   |   |   |
| Losses                  per share:                                   |   |   |       |   |   |   |   |
| Basic                                                                |   | $      | 0.07       |   | $      | 0.01 |   |
| Diluted                                                              |   | $      | 0.07       |   | $      | 0.01 |   |
|                                                                 |   |   |       |   |   |   |   |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| Six                months ended June 30,                             |   | 2008  |       | 2007  |   |
|----------------------------------------------------------------------|--------|------------|------------|------------|--------|
| Net                  loss                                            |   | $          | 4,973,753  |       | $      | 2,806,675 |   |
|                                                                 |   |       |       |       |   |   |   |
| Weighted                  average shares used in basic computation   |   |       | 44,531,939 |       |   | 32,445,025 |   |
| Diluted                  effect of stock options, warrants           |   |       | -          |       |   | - |   |
| Weighted                  average shares used in diluted computation |   |       | 44,531,939 |       |   | 32,445,025 |   |
|                                                                 |   |       |       |       |   |   |   |
| Losses                  per share:                                   |   |       |       |       |   |   |   |
| Basic                                                                |   | $          | (0.11      | )          | $      | (0.09 | ) |
| Diluted                                                              |   | $          | (0.11      | )          | $      | (0.09 | ) |
|                                                                 |   |       |       |       |   |   |   |

|   | i. | Income                  Taxes                  -                  The Company provides for income taxes under SFAS 109, *“Accounting                  for Income Taxes,”*                  which requires the recognition of deferred tax liabilities and                  assets for                  the expected future tax consequences of temporary differences between                  the                  carrying amounts and the tax bases of assets and liabilities using                  the                  enacted income tax rate expected to apply to taxable income in                  the period                  in which the deferred tax liability or assets is expected to be                  settled or                  realized. SFAS 109 requires that a valuation allowance be established                  if                  necessary, to reduce the deferred tax assets to the amount that                  management                  believes is more likely than not to be realized. The provision                  for federal                  income tax differs from that computed amount by applying federal                  statutory                  rates to income before federal income tax expense mainly due to                  expenses                  that are not deductible and income that is not taxable for federal                  income                  taxes, including permanent differences such as non-deductible meals                  and                  entertainment. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | j. | Stock                  based compensation -                  For stock, options and warrants issued to service providers, employees                  and                  founders, the Company follows SFAS No. 123(R), *Share-Based                  Payment,*and                  EITF 96-18,*Accounting for Equity Instruments That Are Issued to Other Than                  Employees                  for Acquiring, or in Conjunction with Selling, Goods or                  Services,*                  which requires recording the options and warrants at the fair value                  of the                  service provided and expensing over the related service                  period. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | k. | Recently                  issued accounting pronouncements  |
|--------|----|------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | l. | Equipment                  -                  Equipment is stated at cost and is depreciated using the straight-line                  method over their estimated useful lives of five years. Expenditures                  for                  maintenance and repairs are charged to operations as incurred.                  The                  estimated service lives of equipment and vehicles are as                  follows: |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                     |   | Depreciable                    Life |
|------------------------------------------|--------|-------------------------------------|
| Exploration                    equipment |   | 5                    years          |
| Office                    equipment      |   | 5                    years          |
| Vehicles                                 |   | 5                    years          |

|   | m. | Impairment                  for long lived assets                  -                  SFAS No. 144, “Accounting for the Impairment or Disposal of Long−Lived                  Assets” requires that long−lived assets to be disposed of by sale,                  including those of discontinued operations, be measured at the                  lower of                  carrying amount or fair value less cost to sell, whether reported                  in                  continuing operations or in discontinued operations. SFAS No. 144                  broadens                  the reporting of discontinued operations to include all components                  of an                  entity with operations that can be distinguished from the rest                  of the                  entity and that will be eliminated from the ongoing operations                  of the                  entity in a disposal transaction. SFAS No. 144 also establishes                  a                  "primary−asset" approach to determine the cash flow estimation period for                  a group of assets and liabilities that represents the unit of accounting                  for a long−lived asset to be held and used. The Company has no impairment                  issues to disclose. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | n. | Foreign                  currency translation                  -                  The reporting currency of the Company is US dollar. Dongxing and                  Tianjin                  use their local currency RMB, as their functional currency. Results                  of                  operations and cash flows are translated at average exchange rates                  during                  the period, assets and liabilities are translated at the unified                  exchange                  rate as quoted by the People’s Bank of China at the end of the period, and                  equity is translated at historical exchange rates. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| 2. | Going                  Concern  |
|----|--------------------------------------|

| 3. | Equipment |
|----|-----------|

| Exploration                  equipment          |   | $      | 21,622 |   |
|-------------------------------------------------|--------|--------|--------|--------|
| Office                  equipment               |   |   | 4,916  |   |
| Vehicles                                        |   |   | 30,172 |   |
| Total                                           |   |   | 56,710 |   |
| Less:                  accumulated depreciation |   |   | 15,889 |   |
| Equipment,                  net                 |   | $      | 40,821 |   |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| 4. |  Long                  term investment |
|----|---------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| 5. | Convertible                  Note Payable and Short Term                  Loan |
|----|--------------------------------------------------------------------------------|

|   | a. | In                  February 2001, the Company executed a Promissory Note (“Note”) in the                  amount of $100,000 to Jay N. Goldberg (“Holder”). The Note accrues 12%                  interest per annum and in the event of a default begins to accrue                  interest                  at 20% annum. The principal plus all accrued and unpaid interest                  is                  payable in cash or at the option of the Holder, is convertible                  into shares                  of common stock of the Company (“conversion”) on the Maturity Date. The                  original maturity date of the Note was March 16, 2001. The Note                  also                  called for the issuance of a warrant to purchase 50,000 shares                  of the                  Company’s common stock at $0.25 for a term of 5 years. In May 2001, the                  Company and the Holder executed an Allonge and Amendment to Promissory                  Note, amending the Maturity Date to December 31, 2001. In November                  2004,                  the Holder executed an “Assignment and Endorsement of Note” and assigned                  all of the Holder’s right, title and interest in and to the Note, to                  Securities Acquisition New York, LLC (“SANY”). From October 2004 to June                  2006, SANY converted $32,300 of principal to 323,000,000 pre-split                  shares                  of common stock. On October 26, 2006, SANY executed an “Agreement of                  Assignment of Note” and assigned all of the Holder’s right, title and                  interest in and to the Note to West Greenwood Foundation (“WGF”). On the                  date of assignment, the principal balance was $67,700 and the amount                  of                  accrued interest was $28,170. For the year ended December 31, 2007,                  the                  Company recorded interest expense in the amount of $3,385 in the                  accompanying statement of operations. On April 1, 2007, WGF and                  various                  entities and individuals, which simultaneously purchased an interest                  in                  the total note from WGF, converted the total balance of $106,071                  ($67,700                  principle and $38,371 interest) to 7,925,000 shares, representing                  a                  conversion rate of approximately $0.013 per share, and the Note                  was                  canceled. There was no relationship between SANY, WGF and the Company                  prior to the note assignments. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | On                  June 25, 2007, the Company executed a Convertible Promissory Note                  (“Note”)                  in the amount of $300,000. The Note was payable in 90 days, bearing                  a                  total of $26,000 interest during the term of the Note. The Company                  also                  incurred additional fees associated with the Note in the amount                  of $34,000                  and warrants to purchase 300,000 shares of the Company’s common stock at                  an exercise price of $1.00 for a two-year term. The Note is secured                  by                  600,000 shares of the Company’s common stock, and the Company’s interest                  in income generated from the operations and sales of certain identified                  exploration / mining leases in Panama and China. The Holder of                  the Note                  may at any time convert the principal amount for shares of the                  Company’s                  common stock at a rate of $1.00 per share. On September 19, 2007,                  the                  Company and the Holder executed an Amendment to the Note. Pursuant                  to the                  amended agreement, the maturity date was extended to December 15,                  2007. In                  addition, the warrant granted to the holder to purchase 300,000                  shares of                  common stock at $1.00 for a two-year term was canceled and new                  warrant was                  granted to the holder to purchase 300,000 shares of common stock                  at $0.65                  for a two-year term. On December 15, 2007, the Company and the                  Holder                  executed Amendment 2 to Convertible Promissory Note (“Amendment 2”).                  Pursuant to Amendment 2, the interest rate became 9% and the maturity                  date                  was extended to May 31, 2008. Additionally, the Company issued                  the Holder                  600,000 shares of common stock at $0.65 per share for a two-year                  term. On                  January 28, 2008, the Company repaid $100,000 of the principal.                  On July                  16, 2008, the Company paid the full remaining principal balance                  of                  $200,000 plus an additional amount of $69,000 and 200,000 shares                  of common                  stock, which represented late fees pursuant to the Amendment. See                  Note 10                  - subsequent event for more                  detail. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

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

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | b. | Chief                  Financial Officer - The Company’s Chief Financial Officer (“CFO”) provided                  consulting services to the Company prior to the merger to assist                  in merger                  preparations at $5,000 per month on a month to month basis beginning                  in                  November 2006 through February 21, 2007. As of April 1, 2007, the                  CFO                  resumed providing consulting services to the Company at $8,000                  per month                  on a month to month basis. The services provided include the day                  to day                  financial management of the company and any related functions related                  to                  the financial operations of the                  Company. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | Euro                  Centro Consulting Corp - The Company entered into 2 agreements                  with Euro                  Centro Consulting Corp (“Euro”), as shareholder in the Company. The first                  transaction dated July 15, 2007, the Company and Euro Centro Consulting                  Corp (“Euro”), a shareholder of the Company entered into a consulting                  agreement. Pursuant to the agreement, the Company received a one-time                  referral services from Euro in exchange for a cash fee of $50,000                  and                  100,000 shares of common stock. The shares were valued at $0.50                  per share,                  for a total amount of $50,000, which was expensed as of December                  31,                  2007. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Shareholders’                  equity |
|----|---------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | a. | Effective                  August 11, 2006, the Company amended the Articles of Incorporation                  as                  follows: Each twenty (20) shares of Common Stock then issued was                  automatically combined into one share of Common Stock of the Company                  (“20-1 reverse split”). No fractional shares or scrip representing                  fractions of a share were issued, but in lieu thereof, each fraction                  of a                  share that any stockholder would otherwise be entitled to receive                  was                  rounded up to the nearest whole share. As a result of the 20 to                  1 reverse                  split, the issued number of shares of Common Stock was reduced                  by                  88,377,055, from 93,028,479 shares of Common Stock issued prior                  to the                  20-1 reverse split to 4,651,424 shares of Common Stock issued subsequent                  to the 20-1 reverse split. The rounding of fractional shares to                  the                  nearest whole share resulted in an additional 661 shares being                  issued to                  stockholders who would have been entitled to receive a fraction                  of a                  share. The total number of shares of Common Stock issued after                  the                  issuance of the rounding of fractional shares was 4,652,085. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Effective                  January 22, 2007, the Company amended the Articles of Incorporation                  as                  follows: Each twenty (20) shares of Common Stock then issued was                  automatically combined into one share of Common Stock of the Company                  (“20-1 reverse split”). No fractional shares or scrip representing                  fractions of a share were issued, but in lieu thereof, each fraction                  of a                  share that any stockholder would otherwise be entitled to receive                  was                  rounded up to the nearest whole share. As a result of the 20 to                  1 reverse                  split, the issued number of shares of Common Stock was reduced                  by                  4,419,481, from 4,652,085 to 232,604 shares of Common Stock. The                  rounding                  of fractional shares to the nearest whole share resulted in an                  additional                  248 shares being issued to stockholders who would have been entitled                  to                  receive a fraction of a share. The total number of shares of Common                  Stock                  issued after the issuance of the rounding of fractional shares                  was                  232,852. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | On                  February 20, 2007, the Company issued 26,504,000 shares of its                  common                  stock for 26,504,000 shares of common stock, representing all of                  the                  outstanding stock of its subsidiary pursuant to the triangular                  merger                  accounted for as a reverse merger and recapitalization. Additionally,                  all                  warrants issued by the subsidiary and outstanding at the date of                  the mere                  were exchanged for warrants in the Company. Prior to the merger,                  the                  Subsidiary had entered into several agreements which accounted                  for the                  shares of common stock outstanding: |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | d. | On                  March 9, 2007, the Company issued 4,000,000 shares of Common Stock                  to                  Bellhaven Gold & Copper, Inc. (“Bellhaven”) as part of an Exploration                  Development Agreement entered into by and between the Company,                  Bellhaven                  and its wholly owned subsidiary, Cuprum Resources Corp (“Cuprum”)                  (“agreement”). The agreement grants the Company an option to acquire up to                  75% of the authorized and outstanding stock of Cuprum, the holder                  of a                  Mineral Concession from the Republic of Panama on a copper prospect                  located in the Republic of Panama. The agreement calls for the                  Company to                  pay Cuprum or Bellhaven $2,000,000 in annual installments of $500,000                  each, issue Bellhaven shares of the Company’s common stock as valued under                  an escrow agreement with a total value of $4,000,000 and expend                  $15,000,000 in exploration and development work on the copper prospect                  underlying Cuprum’s Mineral Concession. As per the agreement, the Company                  has delivered a certificate in the amount of 2,666,667 shares of                  common                  stock to Bellhaven and deposited 1,333,333 shares of its common                  stock into                  escrow. The Company has recorded $1,333,334 as investment on the                  accompanying balance sheet. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | On                  April 1, 2007, the Company issued 7,925,000 shares of Common Stock                  to West                  Greenwood Foundation (“WGF”) and various entities and individuals                  (“designees”), pursuant to the conversion of the Convertible Promissory                  Note executed by the Company in February 2001 (“Note”). On the date of the                  conversion of the Note, the balance of the Note was $67,700 and                  $38,371 of                  principal and interest, respectively. In a simultaneous transaction,                  the                  designees purchased an interest of the Note from WGF and converted                  their                  interest in to shares of Common Stock of the Company based on the                  rate of                  conversion previously agreed to between the Company and WGF. The                  conversion of the total balance of $106,071 to 7,925,000 shares                  of Common                  Stock, represented a conversion rate of approximately $0.013 per                  share.                  See Note 5a. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | f. | On                  May 4, 2007, the Company completed a Private Placement to sell                  4,000,000                  shares of Common Stock at a price of $0.50 per share for cash totaling                  $2,000,000. The transaction was completed in the form of a Restricted                  Equity Purchase Agreement and called for the Company to deposit                  the Stock                  Certificate representing the sold shares with a Custodial Bank                  selected by                  the purchaser. The closing date of the transaction was scheduled                  for 30                  days from the date of the deposit of the Stock Certificate with                  the                  Custodial Bank. The agreement has since been canceled and the shares                  have                  been recalled from the Custodial Bank. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | g. | On                  June 18, 2007, the Company and the Chief Financial Officer (“CFO”) entered                  into a Stock Repurchase Agreement in which the Company repurchased                  from                  the CFO, 100 shares of the Company’s outstanding Series I Preferred Stock                  (“Preferred Shares”) held by the CFO. The Preferred Shares were                  repurchased by the Company from the CFO for $10,000. The Preferred                  Shares                  repurchased represented the total amount of Preferred Stock issued                  and                  outstanding. Subsequent to the repurchase of the Preferred Shares,                  the                  Company filed a Certificate of Designation with the State of Delaware                  and                  canceled the Series I Preferred Stock. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | h. | On                  June 26, 2007, the Company issued 100,000 shares of common stock                  as a form                  of payment for additional fees directly related to a Convertible                  Promissory Note (see Note 5c). |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | On                  July 2, 2007, the Company issued 100,000 shares of common stock                  as a form                  of payment for additional fees directly related to a Convertible                  Promissory Note (see Note 5d). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | j. | On                  July 31, 2007, the Company completed a Private Placement to sell                  1,000,000                  shares of Common Stock at a price of $0.50 per share for cash totaling                  $500,000. The transaction was completed in the form of a Subscription                  Agreement and called for the Company to issue warrants to purchase                  1,000,000 shares of common stock at $1.00 per share for a 2 year                  term.                  Pursuant to the agreement, the Company is required to file a registration                  statement within 150 days and it be declared effective within 210                  days. As                  of June 30, 2008, the Company has not filed the registration statement                  and                  has accrued $30,000 in liquidated damages which were expensed during                  the                  current period. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | k. | From                  August 2007 to October 2007, the Company sold a total of 320,000                  shares of                  common stock in the form of Subscription Agreements at $.50 per                  share. The                  total proceeds to the Company for the sale of the shares were                  $160,000. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | l. | On                  December 15, 2007, the Company issued 600,000 shares of common                  stock as a                  form of payment for additional fees directly related to a Convertible                  Promissory Note (see Note 5b). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | m. | In                  December 2007, the Company issued 100 shares of preferred stock                  at par                  value of $0.0001 to the Company’s CEO Mr. Pinchas Althaus for compensation                  and expensed $10,000. The value of the preferred stock was determined                  by                  the recent buy-back from the Company’s CFO at $100 per                  share. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | n. | On                  April 18, 2008, the Company agreed to issue 4,550,000 shares of                  common                  stock to its directors in consideration of their past services.                  The                  Company recorded directors’ compensation expenses in the amount of                  $2,275,000 in the accompanying statement of                  operations. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | o. | On                  April 25, 2008, the Company agreed to issue 250,000 shares of common                  stock                  as a form of payment for additional fees directly related to a                  Convertible                  Promissory Note (see Note 5e). |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Expected                   | Expected   | Dividend | Risk                    Free     | Grant                    Date |
|----------------------------|------------|----------|----------------------------------|-------------------------------|
| Life                       | Volatility | Yield    | Interest                    Rate | Fair                    Value |
| 2                    years | 48.69%     | -        | 4.78%                            | $31,641                       |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|                                          |   |                       |       |                       |   | Weighted-  |   |                              |   |
|-----------------------------------------------|--------|----------------------------|------------|----------------------------|--------|------------|--------|-----------------------------------|--------|
|                                          |   | Number                  of |       | Number                  of |   | Average    |   | Average                           |   |
|                                          |   | Warrants                   |       | Warrants                   |   | Exercise   |   | Remaining                         |   |
|                                          |   | Outstanding                |       | Exercisable                |   | Price      |   | Contractual                  Life |   |
| Balance                  at December 31, 2006 |   |                       | 5,950,000  |                       |   | 5,950,000  |   | $                                 | 0.10   |   |   | 2.75                  years |   |
| Granted                                       |   |                       | 300,000    |                       |   | 300,000    |   |                              | 1.00   |   |   | 2.00                  years |   |
| Forfeited                                     |   |                       | (5,500,000 | )                          |   | (5,500,000 | )      |                              | -      |   |   |   |   |
| Exercised                                     |   |                       | (450,000   | )                          |   | (450,000   | )      |                              | 0.10   |   |   |   |   |
| Balance                  at June 30, 2007     |   |                       | 300,000    |                       |   | 300,000    |   | $                                 | 1.00   |   |   | 2.00                  years |   |
| Granted,                                      |   |                       | 5,760,000  |                       |   | -          |   |                              | 0.51   |   |   | 2                  years |   |
| Forfeited                                     |   |                       | -          |                       |   | -          |   |                              | -      |   |   | - |   |
| Exercised                                     |   |                       | -          |                       |   | -          |   |                              | -      |   |   | - |   |
| Balance                  at December 31, 2007 |   |                       | 6,060,000  |                       |   | 600,000    |   | $                                 | 0.58   |   |   | 1.63                  years |   |
| Granted                                       |   |                       | 155,000    |                       |   | -          |   |                              | -      |   |   | 2.75                  years |   |
| Forfeited                                     |   |                       | -          |                       |   | -          |   |                              | -      |   |   |   |   |
| Exercised                                     |   |                       | -          |                       |   | -          |   |                              | -      |   |   |   |   |
| Balance                  at June 30, 2008     |   |                       | 6,215,000  |                       |   | 600,000    |   | $                                 | 0.58   |   |   | 1.15                  years |   |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|                              |   | Expected                  Life |                       | Expected                  Volatility |   | Dividend                  Yield |   | Risk                  Free Interest Rate |   | Grant                  Date Fair Value |   |
|-----------------------------------|--------|--------------------------------|----------------------------|--------------------------------------|--------|---------------------------------|--------|------------------------------------------|--------|----------------------------------------|--------|
| Employees                  - 2007 |   |                           | 5.0                  years |                                 |   | 61                              | %      |                                     | 0      | %                                      |   | 3.52 | % |   | 8,100,000 |   |

|                                                 |   | Options                  Outstanding |      | Weighted                  Average Exercise Price |   | Aggregate                  Intrinsic Value |   |
|------------------------------------------------------|--------|--------------------------------------|-----------|--------------------------------------------------|--------|--------------------------------------------|--------|
| Outstanding                  as of December 31, 2006 |   |                                 | -         |                                             | $      | -                                          |   | $ | - |   |
| Granted                                              |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Forfeited                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Exercised                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Outstanding                  as of June 30, 2007     |   |                                 | -         |                                             | $      | -                                          |   | $ | - |   |
| Granted                                              |   |                                 | 5,400,000 |                                             |   | 0.50                                       |   |   | - |   |
| Forfeited                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Exercised                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Outstanding                  as of December 31, 2007 |   |                                 | 5,400,000 |                                             | $      | 0.50                                       |   | $ | - |   |
| Granted                                              |   |                                 | 200,000   |                                             |   | 0.50                                       |   |   | - |   |
| Forfeited                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Exercised                                            |   |                                 | -         |                                             |   | -                                          |   |   | - |   |
| Outstanding                  as of June 30, 2008     |   |                                 | 5,600,000 |                                             | $      | 0.50                                       |   | $ | - |   |

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

| Net                  operating loss for the six months ended June 30, 2008 |   | $      | 4,973,753            |   |
|----------------------------------------------------------------------------|--------|--------|----------------------|--------|
| Effective                  income tax rate                                 |   |   | 40                   | %      |
| Total                  deferred tax assets                                 |   |   | 1,989,501            |   |
| Less:                  valuation allowance                                 |   |   | (1,989,501           | )      |
| Total                  deferred tax assets as of June 30, 2008             |   | $      | -                  - |   |

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

| Net                  operating loss for the six months ended June 30, 2007 |   | $      | 2,806,675  |   |
|----------------------------------------------------------------------------|--------|--------|------------|--------|
| Effective                  income tax rate                                 |   |   | 40         | %      |
| Total                  deferred tax assets                                 |   |   | 1,122,670  |   |
| Less:                  valuation allowance                                 |   |   | (1,122,670 | )      |
|  Total                  deferred tax assets as of June 30, 2007       |   | $      | -          |   |

| Net                  operating loss from inception (March 1, 2006) to June 30,                  2008 |   | $      | 12,885,789 |   |
|------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|
| Effective                  income tax rate                                                           |   |   | 40         | %      |
| Total                  deferred tax assets                                                           |   |   | 5,154,315  |   |
| Less:                  valuation allowance                                                           |   |   | (5,154,315 | )      |
| Total                  deferred tax assets as of June 30, 2008                                       |   | $      | -          |   |

| Federal                  income tax rate           |   |   | 34  | %  |
|----------------------------------------------------|--------|--------|-----|----|
| State                  tax, net of federal benefit |   |   | 6   | %  |
| Increase                  in valuation allowance   |   |   | (40 | )% |
| Effective                  income tax rate         |   |   | -   | %  |

| 9. | Commitments                  -                  The Company and its Subsidiary entered into various agreements                  during the                  period beginning March 2006 (Subsidiary’s inception date) and ending June                  30, 2008. These include: |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Employment                  Agreements - On April 12, 2006, the Company entered into employment                  agreements with its Chief Executive Officer and its Vice President                  of                  Exploration. The agreements have a term of 2 years and are automatically                  renewed for 2 year terms unless the Company or the employee gives                  90 days                  prior written notice to terminate the agreement. On December 1,                  2007, the                  Company entered into a new employment agreement with its Chief                  Executive                  Officer and its Chief Financial Officer. The agreements have terms                  of 5                  years and 3 years, respectively. The agreements are automatically                  renewed                  for 1 year terms unless the Company or Executive gives 90 days                  prior                  written notice to terminate the                  agreement. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | c. | Office                  Lease - The Company is subject to a six month license agreement                  dated                  February 14, 2008 for office space requiring monthly payments of                  $6,450.                  The agreement expires August 31, 2008 and is automatically renewed                  for an                  additional six month term unless the Company gives written notice                  of                  cancellation on or before June 1, 2008. The Company did not provide                  written notice prior to June 1, 2008, therefore, the agreement                  has been                  automatically renewed for an additional six month period or through                  February 28, 2009. The Company leased additional space at another                  location. The additional space is leased on a month to month basis                  at a                  rate of $1,445 per month. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | Cuprum                  Resources Corp. - In March 2007, the Company, Bellhaven Copper& Gold,                  Inc. (“Bellhaven”) and Cuprum Resources Corp (“Cuprum) entered into an                  Exploration Development Agreement (“agreement”). The agreement requires                  the Company over the next three years to issue 4 million shares                  of the                  Company’s common stock and make cash payments in the amount of                  $17,000,000. At June 30, 2008, the Company released 2,666,667 shares                  of                  its common stock from escrow and made cash payments of $3,309,927. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Period                  ending December 31, |   |   |      |
|---------------------------------------------|--------|--------|-----------|
| 2008                                        |   | $      | 7,005,000 |   |
| 2009                                        |   |   | 7,166,666 |   |
| 2010                  and thereafter        |   |   | 500,000   |   |

| 10. | Subsequent                  Events  |
|-----|------------------------------------------|

|   | a. | On                  July 10, 2008, pursuant to a binding term sheet, the Company agreed                  to                  issue 21,840,000 shares of common stock and warrants to purchase                  up to                  10,920,000 shares of common stock at an exercise price of $0.46                  per share                  and additional warrants to purchase up to 3,283,000 shares of common                  stock                  at an exercise price of $0.50 per share for $10,046,400 payable                  in two                  tranches, with the first tranche of 85% of the gross proceeds due                  July 15,                  2008 and with the balance due October 13, 2008. The Company received                  the                  first tranche totaling $8,539,440 and issued 18,564,000 shares                  of common                  stock to the investors; no warrants were issued with this tranche.                  The                  Company and the investors are finalizing the terms of the agreements                  related to this transaction. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | On                  July 11, 2008, the Company granted a warrant to purchase up to                  1,200,000                  shares of common stock to Excellion Advisors LLP as compensation                  for the                  services rendered in connection with the private placement consummated                  on                  July 10, 2008. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**DOMINION        MINERALS CORP. AND SUBSIDIARIES**

**(FORMERLY        EMPIRE MINERALS CORP.)**

**(AN        EXPLORATION COMPANY)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2008**

**(UNAUDITED)**

|   | c. | On                  July 11, 2008, the Company entered into a consulting agreement                  with Muscat                  Consulting for services directly related with the private placement                  consummated on July 10, 2008. Pursuant to the agreement, the Company                  issued 650,000 shares of common stock to Muscat Consulting. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | On                  July 16, 2008, the Company paid the full remaining principal balance                  of                  $200,000 plus an additional amount of $69,000 and 200,000 shares                  of common                  stock, which represented late fees pursuant to the Amendment. For                  details                  of the loan, refer to note 5b. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

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

***Forward-Looking      Statements and Associated Risks.***
*       *

**Overview      of Business **

----

| (A) | The                Company acquired all of the outstanding stock of the Nevada                Subsidiary; |
|-----|-----------------------------------------------------------------------------------------------------------|

| (B) | A                Nevada corporation named Xacord Acquisitions Sub Corp. formed and                wholly                owned by the Company to be used as a vehicle for the transaction                was                merged into the Nevada Subsidiary; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | The                outstanding shares of the common stock of the Nevada Subsidiary as                of the                Effective Time of the merger were converted into shares of the common                stock of the Company on a share for share basis with a total of 26,504,000                shares of the Company's stock issued in this                conversion; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | The                Company assumed four warrants issued by the Nevada Subsidiary to                purchase                up to a total of 4,500,000 shares of the Company's Common Stock at                $0.10                per share during a three year term. These warrants were held as follows:                (i) a warrant for 2,000,000 shares was held by Saddle River Associates,                Inc., a financial and business consultant to the Company; (ii) an                additional warrant for 500,000 shares was held by Saddle River Associates,                Inc.; (iii) a warrant for 1,500,000 shares was held by Pinchas Althaus,                President and a director of the Company; and (iv) a warrant for 50,000                shares was held by Chaya Schreiber, a former shareholder of the Nevada                Subsidiary. The warrant to purchase 50,000 shares was exercised on                March                2, 2007. The remaining three warrants for 4,000,000 were canceled                by                mutual agreement of the parties on June 1,                2007. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

      Nevada      Subsidiary. Messrs. Althaus, Roca and Minsky became the three directors and      three of the officers of the Company and the Nevada Subsidiary upon completion      of the business combination.

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**Status      Before Business Combination:**

**Actions      in Business Combination:**

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**Status      After Business Combination:**

      company      named Empire (Tianjin) Resources Co., Ltd. This entity was formed to acquire      mineral interests in and explore, develop and, if warranted, conduct mining      operations on mineral properties located in the Inner Mongolian Autonomous      Region of Tianjin Province in the Peoples Republic of China. The Nevada      Subsidiary holds a 70% interest in this entity subject to future adjustment      to      reflect the parties' respective capital contributions.

----

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|   | · | Supervising,                and if necessary providing or procuring additional financing for,                the                operations of the two Chinese Joint                Ventures; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Acquiring                the majority interest in the Panamanian corporation holding the mineral                concession and providing financing for and supervising its                operations; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Exploring                and evaluating additional mineral and natural resource acquisitions;                and |
|--------|--------|------------------------------------------------------------------------------------------------------------------|

|   | · | Seeking                the necessary additional capital to finance                activities. |
|--------|--------|-----------------------------------------------------------------------------------------------|

**Going      Concern **

**Critical      Accounting Policies **

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**Results      of Operations **

***Discussion      of Revenues***

***Expenses      for the Three Month Period ended June 30, 2008 vs June 30, 2007***

|                                             |   | **For                the three months ended** |      | **For                the three months ended** |   |
|--------------------------------------------------|--------|-----------------------------------------------|-----------|-----------------------------------------------|--------|
|                                             |   | **June                30, 2008**              |      | **June                30, 2007**              |   |
| **REVENUE**                                      |   | -                                             |      | Nil                                           |   | - |   | Nil |   |
| **EXPENSES**                                     |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |
|                                             |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |
| Research                & development        |   | $                                             | 57,747    |                                          |   | 1.81 | % | $ | 76,776 |   |   | 18.57 | % |
|                                             |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |
| Consulting                fees                   |   |                                          | 112,537   |                                          |   | 3.52 | % |   | 116,300 |   |   | 28.13 | % |
| Professional                fees                 |   |                                          | 49,734    |                                          |   | 1.56 | % |   | 70,050 |   |   | 16.94 | % |
| Other                employee compensation       |   |                                          | 16,172    |                                          |   | 0.51 | % |   | - |   |   | Nil |   |
| Directors                compensation            |        |                                               | 2,275,000 |                                               |        | 71.24 | % |  |  - |  |  | Nil |  |
| General                & administrative      |   |                                          | 312,909   |                                          |   | 9.80 | % |   | 159,135 |   |   | 38.49 | % |
| Liquidated                damage expense         |   |                                          | 84,225    |                                          |   | 2.64 | % |   | - |   |   | Nil |   |
| Depreciation                                     |   |                                          | 2,883     |                                          |   | 0.09 | % |   | 4,636 |   |   | 1.12 | % |
|                                             |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |
| **TOTAL                EXPENSES**                |   | $                                             | 2,911,207 |                                          |   | 91.42 | % | $ | 426,897 |   |   | 103.25 | % |
| **LOSS                BEFORE OTHER ITEM**        |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |
| Other                expense (income)            |   |                                          | 280,941   |                                          |   | 8.82 | % |   | (12,112 | ) |   | -2.93 | % |
| Other                comprehensive loss (income) |   |                                          | (7,591    | )                                             |   | 0.24 | % |   | (1,338 | ) |   | -0.32 | % |
| **LOSS                BEFORE INCOME TAXES**      |   |                                          | 3,192,148 |                                          |   | 100.00 | % |   | 414,785 |   |   | 100.00 | % |
| Income                tax benefit (expense)      |   |                                          | -         |                                          |   | Nil |   |   |   |   |   |   |   |
| **COMPREHENSIVE                LOSS**            |   | $                                             | 3,184,557 |                                          |   | 100.00 | % | $ | 413,447 |   |   | 100.00 | % |
|                                             |   |                                          |      |                                          |   |   |   |   |   |   |   |   |   |

----

***Expenses      for the Six Month Period ending June 30, 2008 vs June 30, 2007***

|                                             |   | **For                the six months ended** |      | **For                the six months ended** |   |
|--------------------------------------------------|--------|---------------------------------------------|-----------|---------------------------------------------|--------|
|                                             |   | **June                30, 2008**            |      | **June                30, 2007**            |   |
| **REVENUE**                                      |   |                                        | -         |                                        |   | Nil |   |   | - |   |   | Nil |   |
| **EXPENSES**                                     |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |
|                                             |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |
| Research                & development        |   | $                                           | 104,336   |                                        |   | 2.11 | % | $ | 275,735 |   |   | 9.84 | % |
|                                             |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |
| Consulting                fees                   |   |                                        | 281,925   |                                        |   | 5.69 | % |   | 2,022,442 |   |   | 72.20 | % |
| Professional                fees                 |   |                                        | 123,717   |                                        |   | 2.50 | % |   | 159,860 |   |   | 5.60 | % |
| Other                employee compensation       |   |                                        | 947,536   |                                        |   | 19.14 | % |   | - |   |   | Nil |   |
| Directors                compensation            |        |                                             | 2,275,000 |                                             |        | 45.95 | % |  |  - |  |  | Nil |   |
| General                & administrative      |   |                                        | 499,319   |                                        |   | 10.08 | % |   | 361,473 |   |   | 12.90 | % |
| Liquidated                damage expense         |   |                                        | 196,050   |                                        |   | 3.96 | % |   | - |   |   | Nil |   |
| Depreciation                                     |   |                                        | 5,552     |                                        |   | 0.11 | % |   | 4,636 |   |   | .17 | % |
|                                             |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |
| **TOTAL                EXPENSES**                |   | $                                           | 4,443,435 |                                        |   | 89.70 | % | $ | 2,821,146 |   |   | 100.71 | % |
|                                             |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |
| Other                expense (income)            |   |                                        | 540,318   |                                        |   | 10.93 | % |   | (14,471 | ) |   | -0.52 | % |
| Other                comprehensive loss (income) |   |                                        | (31,333   | )                                           |   | -0.63 | % |   | (5,413 | ) |   | -0.19 | % |
| **LOSS                BEFORE INCOME TAXES**      |   |                                        | 4,973,753 |                                        |   | 100.00 | % |   | 2,806,675 |   |   | 100.00 | % |
| Income                tax benefit (expense)      |   |                                        | -         |                                        |   | Nil |   |   |   |   |   |   |   |
| **COMPREHENSIVE                LOSS**            |   | $                                           | 4,942,420 |                                        |   | 100.00 | % | $ | 2,801,262 |   |   | 100.00 | % |
|                                             |   |                                        |      |                                        |   |   |   |   |   |   |   |   |   |

----

**Liquidity      and Capital Resources**

***Cash      and Working Capital***

----

----

***Internal      and External Sources of Liquidity***

***Contractual      Obligations***

**Cerro      Chorcha Project: **

|   | · | Required                work expenditure by March 7, 2009; $9,000,000 of which $3,375,960                has been                paid. The exploration and development plan for Phase 1 was completed                as of                March 6, 2008; a work plan for the period of March 7, 2008 to March                7,                2009 has been formulated and approved jointly by Bellhaven Copper                and                Gold, Inc. and us. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Annual                payment: $500,000 due March 7, 2008 was paid on March 14, 2008; $500,000                due March 7, 2009. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------|

**TIGMR      Project: **

|   | · | Joint                Venture Contribution (Installments 1 and 2): $500,000; due September                2007,                paid September 2007; Joint Venture Contribution (Installment 3) due                May                31, 2008; we are currently negotiating an amendment to the Joint                Venture                agreement with our Joint Venture Partner in order to obtain an extension                for the payment of our Joint Venture                contribution. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Off-Balance      Sheet Arrangements **

**we      **

**Item      3. Qualitative Disclosures About Market Risk.**

**Item      4T. Controls and Procedures.**

----

----

**PART      II**

**Item      1. Legal Proceedings.**

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

----

**Item      3. Defaults Upon Senior Securities.**

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

**Item      5. Other Information.**

----

**Item      6. Exhibits.**

| Exhibit                No. | Description                of Exhibits                                                                                                      |
|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                        | Amendment                2 to Convertible Promissory Note*                                                                                  |
|                       |                                                                                                                                        |
| 31.1                       | Officers                Certifications under Section 302 of the Sarbanes-Oxley Act of                2002*                                  |
|                       |                                                                                                                                        |
| 31.2                       | Officers                Certifications under Section 302 of the Sarbanes-Oxley Act of                2002*                                  |
|                       |                                                                                                                                        |
| 32.1                       | Certification                of Chief Executive Officer under Section 906 of the Sarbanes-Oxley                Act of                2002.* |

----

**SIGNATURES      **

|   |                           |   | **DOMINION                MINERALS CORP.** |
|--------|--------------------------------|--------|--------------------------------------------|
|   |                           |   |                                       |   |
|   |                           |   |                                       |   |
|   |                           |   |                                       |   |
| Date:  | August                14, 2008 |   | By:                                        | */s/                Pinchas Althaus*  |
|   |                           |   |                                       | PINCHAS                ALTHAUS |
|   |                           |   |                                       | Chief                Executive Officer |
|   |                           |   |                                       |   |
|   |                           |   |                                       |   |
| Date:  | August                14, 2008 |   | By:                                        | */s/                Diego Roca*  |
|   |                           |   |                                       | DIEGO                ROCA |
|   |                           |   |                                       | Executive                Vice President, Chief Financial |
|   |                           |   |                                       | Officer                and Treasurer |

----