UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
DC 20549





FORM
10-QSB





[X]
            Quarterly
      Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934For
      the quarterly period ended December 31,
      2007[  ]
            Transition
      Report pursuant to 13 or 15(d) of the Securities Exchange Act of
      1934For
      the transition period  to__________Commission
      File Number:  000-27645






Ivany Mining
      Inc.(Exact
      name of small business issuer as specified in its
  charter)Delaware
            88-0258277(State
      or other jurisdiction of incorporation or organization)
            (IRS
      Employer Identification No.)




8720 A Rue Du Frost  , St. Leonard, ,
      Quebec, Canada  H1P 2Z5(Address
      of principal executive offices)





514-325-4567(Issuer’s
      telephone number)_______________________________________________________________(Former
      name, former address and former fiscal year, if changed since last
      report)





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





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





State the
number of shares outstanding of each of the issuer’s classes of common stock, as
of the latest practicable date:  25,386,200  common shares
as of February 8, 2008.





Transitional
Small Business Disclosure Format (check one): Yes [ ] No [X]




Table of Contents




TABLE OF
      CONTENTS
            PagePART I – FINANCIAL
      INFORMATIONItem 1.
            Financial Statements
            3Item 2.
            Management’s Discussion and Analysis or Plan of
      Operation
            4Item 3.
            Controls and Procedures
            16PART II – OTHER
      INFORMATIONItem 1.
            Legal Proceedings
            17Item 2.
            Unregistered Sales of Equity Securities and Use of
      Proceeds
            17Item 3.
            Defaults Upon Senior Securities
            17Item 4.
            Submission of Matters to a Vote of Security
      Holders
            17Item 5.
            Other Information
            17Item 6.
            Exhibits
            17






Table of Contents




PART
I - FINANCIAL INFORMATION





Item
1.                           Financial
Statements




Our
unaudited financial statements included in this Form 10-QSB are as
follows:
  F-1
              Balance Sheet as of December 31, 2007;F-2
              Statements of Operations for the three and six months ended
      December 31, 2007 and 2006;F-3
              Statements of Stockholders’ Equity (Deficit) as of December 31,
      2007F-4
              Statements of Cash Flows for the three and six months ended
      December 31, 2007 and 2006;F-5
              Notes to Financial
Statements;


These
unaudited financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim
financial information and the SEC instructions to Form 10-QSB.  In the
opinion of management, all adjustments considered necessary for a fair
presentation have been included.  Operating results for the interim
period ended December 31, 2007 are not necessarily indicative of the results
that can be expected for the full year.




3
 Table of Contents


IVANY
MINING, INC.
 (A
Development Stage Company) Balance Sheets





ASSETSDecember
      31,
                  2007
              
              June
      30,2007(Unaudited)CURRENT
      ASSETSCash
              $
              821,749
              
              $
              -Total
      Current Assets
              
              821,749
              
              
              -OTHER
      ASSETSMineral
      properties
              
              211,477
              
              
              -TOTAL
      ASSETS
              $
              1,033,226
              
              $
              -LIABILITIES AND STOCKHOLDERS' EQUITY
      (DEFICIT)CURRENT
      LIABILITIESAccounts
      payable
              $
              38,128
              
              $
              33,482Loans
      payable
              
              40,247
              
              
              40,247Stock
      subscriptions payable
              
              1,119,000
              
              
              -Loans
      due to shareholder
              
              113,979
              
              
              108,834Total
      Current Liabilities
              
              1,311,354
              
              
              182,563STOCKHOLDERS'
      EQUITY (DEFICIT)Preferred
      stock; 10,000,000 shares authorized, at $0.001 par value, none issued or
      outstanding and outstanding
              
              -
              
              
              -Common
      stock; 200,000,000 shares authorized, at $0.001 par value, 20,396,032 and
      246,032 shares issued and outstanding, respectively
              
              20,396
              
              
              246Additional
      paid-in capital
              
              6,293,053
              
              
              6,215,095Accumulated deficit
              
              (6,591,577)
              
              
              (6,397,904)Total
      Stockholders' Equity (Deficit)
              
              (278,128)
              
              
              (182,563)TOTAL
      LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICITY)
              $
              1,033,226
              
              $
              -


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




F-1
 Table of Contents


IVANY
MINING, INC. (A
Development Stage Company) Statements of Operations
 (Unaudited)





For
      the Three Months EndedDecember
      31,
              
              For
      the Six Months EndedDecember
      31,
              
              From
      Inception
                  ThroughDecember
      31,2007
              
              2006
              
              2007
              
              2006
              
              2007REVENUES
              $
              -
              
              $
              -
              
              $
              -
              
              $
              -
              
              $
              -EXPENSESExploration
              
              45,551
              
              
              -
              
              
              45,551
              
              
              
              
              
              45,551General
      and administrative
              
              88,935
              
              
              -
              
              
              145,822
              
              
              -
              
              
              145,822Total
      Expenses
              
              134,486
              
              
              -
              
              
              191,373
              
              
              -
              
              
              191,373LOSS
      FROM OPERATIONS
              
              (134,486)
              
              
              -
              
              
              (191,373)
              
              
              -
              
              
              (191,373)LOSS
      (GAIN) ON CURRENCY EXCHANGE
              
              2,300
              
              
              -
              
              
              2,300
              
              
              -
              
              
              2,300DISCONTINUED
      OPERATIONS
              
              -
              
              
              5,470
              
              
              -
              
              
              9,876
              
              
              6,397,904NET
      LOSS
              $
              (136,786)
              
              $
              (5,470)
              
              $
              (193,673)
              
              $
              (9,876)
              
              $
              (6,591,577)BASIC
      LOSS PER SHARE
              $
              (0.10)
              
              $
              (0.02)
              
              $
              (0.15)
              
              $
              (0.04)WEIGHTED
      AVERAGENUMBER OF SHARES OUTSTANDING
              
              1,321,032
              
              
              246,032
              
              
              1,321,032
              
              
              246,032


The
accompanying notes are an integral part of these financial
statements




F-2
 Table of Contents


IVANY
MINING, INC. (A
Development Stage Company) Statements of Stockholders' Equity (Deficit)
 (Unaudited)


Common Stock

                    Shares 
        Amount
                
                AdditionalPaid-In

                    Capital
                
                During
      theDevelopment

                    Stage
                
                TotalStockholders'

                    DeficitBalance,
      June 30, 2005
                
                246,032
                
                $
                246
                
                $
                6,215,095
                
                $
                (6,330,697)
                
                $
                (115,356)Net
      loss for the year endedJune 30,
      2006
                
                -
                
                
                -
                
                
                -
                
                
                (28,518)
                
                
                (28,518)Balance,
      June 30, 2006
                
                246,032
                
                
                246
                
                
                6,215,095
                
                
                (6,359,215)
                
                
                (143,874)Net
      loss for the year endedJune 30,
      2007
                
                -
                
                
                -
                
                
                -
                
                
                (38,689)
                
                
                (38,689)Balance,
      June 30, 2007
                
                246,032
                
                
                246
                
                
                6,215,095
                
                
                (6,397,904)
                
                
                (182,563)Mineral
      properties acquiredfor common
      stock
                
                20,150,000
                
                
                20,150
                
                
                77,958
                
                
                -
                
                
                98,108Net
      loss for the six monthsended December 31,
      2007
                
                -
                
                
                -
                
                
                -
                
                
                (193,673)
                
                
                (193,673)Balance,
      December 31, 2007
                
                20,396,032
                
                $
                20,396
                
                $
                6,293,053
                
                $
                (6,591,577)
                
                $
                (278,128)


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




F-3
 Table of Contents


IVANY
MINING, INC. (A
Development Stage Company) Statements of Cash Flows (unaudited)
  For
      the Six Months EndedDecember
      31,
                      
                      From
      InceptionThroughDecember
      31,2007
                      
                      2006
                      
                      2007CASH
      FLOWS FROMOPERATING
      ACTIVITIESNet
      loss
                      $
                      (193,673)
                      
                      $
                      (9,876)
                      
                      $
                      (6,591,577)Adjustments
      to reconcile net loss to net cash used by operating
      activities:Discountinued
      operations
                      
                      -
                      
                      
                      9,876
                      
                      
                      6,215,341Changes
      in operating assets and liabilities:Change
      in accounts payable
                      
                      4,646
                      
                      
                      -
                      
                      
                      38,128Net
      Cash Used by Operating Activities
                      
                      (189,027)
                      
                      
                      -
                      
                      
                      (338,108)CASH
      FLOWS FROMINVESTING
      ACTIVITIESPurchase
      of mineral properties
                      
                      (113,369)
                      
                      
                      -
                      
                      
                      (113,369)Net
      Cash Used by Investing Activities
                      
                      (113,369)
                      
                      
                      -
                      
                      
                      (113,369CASH
      FLOWS FROM FINANCING ACTIVITIESStock
      subscriptions received
                      
                      1,119,000
                      
                      
                      -
                      
                      
                      1,119,000Borrowings
      of notes payable
                      
                      -
                      
                      
                      -
                      
                      
                      40,247Borrowings
      from shareholder
                      
                      5,145
                      
                      
                      -
                      
                      
                      113,979Net
      Cash Used by Operating
      Activities
                      
                      1,124,145
                      
                      
                      -
                      
                      
                      1,273,226NET
      DECREASE IN CASH
                      
                      821,749
                      
                      
                      -
                      
                      
                      821,749CASH
      AT BEGINNING OF PERIOD
                      
                      -
                      
                      
                      -
                      
                      
                      -CASH
      AT END OF PERIOD
                      $
                      821,749
                      
                      $
                      -
                      
                      $
                      821,749SUPPLEMENTAL
      DISCLOSURES OF CASH FLOW INFORMATIONCASH
      PAID FOR:Interest
                      $
                      -
                      
                      $
                      -
                      
                      $
                      -Income
      Taxes
                      $
                      -
                      
                      $
                      -
                      
                      $
                      -NON
      CASH FINANCING ACTIVITIES:
                      
                      
                      
                      $
                      -
                      
                      $
                      98,108Common stock
      issued for mineral properties
                      $
                      98,108
 
 The
accompanying notes are an integral part of these financial
statements.




F-4
 Table of Contents


IVANY
MINING, INC.
 Notes to the Condensed Financial Statements
 December
31, 2007 and June 30, 2007


NOTE 1
-                      CONDENSED
FINANCIAL STATEMENTS
 
 The
accompanying financial statements have been prepared by the Company without
audit.  In the opinion of management, all adjustments (which include
only normal recurring adjustments) necessary to present fairly the financial
position, results of operations, and cash flows at December 31, 2007, and for
all periods presented herein, have been made.
 
 Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America have been condensed or omitted.  It is
suggested that these condensed financial statements be read in conjunction with
the financial statements and notes thereto included in the Company’s June 30,
2007 audited financial statements.  The results of operations for the
periods ended December 31, 2007 and 2006 are not necessarily indicative of the
operating results for the full years.
  NOTE
2 -                      GOING
CONCERN
 
 The
Company’s financial statements are prepared using generally accepted accounting
principles in the United States of America applicable to a going concern which
contemplates the realization of assets and liquidation of liabilities in the
normal course of business. The Company has not yet established an ongoing source
of revenues sufficient to cover its operating costs and allow it to continue as
a going concern. The ability of the Company to continue as a going concern is
dependent on the Company obtaining adequate capital to fund operating losses
until it becomes profitable. If the Company is unable to obtain adequate
capital, it could be forced to cease operations.
 
 In order
to continue as a going concern, the Company will need, among other things,
additional capital resources. Management’s plan is to obtain such resources for
the Company by obtaining capital from management and significant shareholders
sufficient to meet its minimal operating expenses and seeking equity and/or debt
financing. However management cannot provide any assurances that the Company
will be successful in accomplishing any of its plans.
 
 The
ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a going
concern.




F-5
 Table of Contents




Item 2.     Management’s Discussion and Analysis
or Plan of Operation





Forward-Looking
Statements





Certain
statements, other than purely historical information, including estimates,
projections, statements relating to our business plans, objectives, and expected
operating results, and the assumptions upon which those statements are based,
are “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of
1934.   These forward-looking statements generally are identified
by the words “believes,” “project,” “expects,” “anticipates,” “estimates,”
“intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will
continue,” “will likely result,” and similar expressions.  We intend
such forward-looking statements to be covered by the safe-harbor provisions for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995, and are including this statement for purposes of complying with
those safe-harbor provisions.  Forward-looking statements are based on
current expectations and assumptions that are subject to risks and uncertainties
which may cause actual results to differ materially from the forward-looking
statements. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. Factors which could have a material
adverse affect on our operations and future prospects on a consolidated basis
include, but are not limited to: changes in economic conditions,
legislative/regulatory changes, availability of capital, interest rates,
competition, and generally accepted accounting principles. These risks and
uncertainties should also be considered in evaluating forward-looking statements
and undue reliance should not be placed on such statements. We undertake no
obligation to update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.  Further
information concerning our business, including additional factors that could
materially affect our financial results, is included herein and in our other
filings with the SEC.





Description
of Business





We are in
the business of mineral exploration and development. We have acquired or entered
into agreements to acquire several mineral claims in the provinces and Quebec
and Alberta, Canada. Our plan is to attempt to identify and pursue opportunities
for the acquisition and development of mining properties in Canada and around
the world.





We are
focused on the strategic acquisition and development of uranium, diamond, base
metals, and precious metal properties on a worldwide basis. Our long-term
objective is to become a sustainable mid-tier base & precious metal producer
in Canada & Cambodia, to the benefit of all stakeholders, in a socially and
environmentally responsible manner. Our overall strategy is to rapidly advance
our recently acquired/optioned base & precious metal exploration
properties.





Exploration
of our mineral claims is required before a final determination as to their
viability can be made. The existence of commercially exploitable mineral
deposits in our mineral claims is unknown at the present time and we will not be
able to ascertain such information until we receive and evaluate the results of
our exploration programs.




4
 Table of Contents





Zama Lake Pb-Zn
Property
 
 Acquisition
of Property
 
 On
September 11, 2007, we entered into a Letter of Intent Purchase Agreement (the
“Purchase Agreement”) with Star Uranium Corp. (“Star Uranium”). Under the terms
of the Purchase Agreement, Star Uranium has agreed to transfer to us ten mining
claims located in the Zama Lake area of northern Alberta, Canada. Under the
Purchase Agreement, we paid Star Uranium a cash purchase price of $100,000CDN.
Also, we issued Star Uranium 150,000 shares of our common stock as additional
consideration for the purchased mining claims. The mining claims transferred
under the Purchase Agreement cover a total of approximately 92,160
hectares.
 
 Under the
Purchase Agreement, we have also agreed to invest certain minimum amounts in the
development of the mineral properties. Subject to any negotiated adjustments
which may be made by the parties based on future geological evaluation, we are
required to spend a minimum of $400,000CDN toward exploration of the properties
before May 16, 2008 and an additional $1,000,000CDN toward exploration and
development before May 16, 2010.
 
 Star
Uranium has retained a 2% smelter royalty on the properties and has retained all
diamond rights. We have the option to buy-down the retained net smelter royalty
to 1% by making an additional payment of $1,000,000CDN to Star Uranium at any
time. The Purchase Agreement, which is in the form of a short Letter of Intent,
may be replaced by a more formal agreement if deemed necessary by the
parties.
 
 On
September 12, 2007, we acquired additional claims in Alberta under an Alberta
Mining Claims Purchase Agreement (the “Purchase Agreement”) with Derek Ivany and
Royal Atlantis Group, Inc. (“Royal Atlantis”). Under the terms of the Purchase
Agreement, Mr. Ivany and Royal Atlantis have transferred to us a total of six
mining claims located in the province of Alberta, Canada.
 
 In
exchange for the mining claims transferred to us under the Purchase Agreement,
we paid a total of $20,000 ($10,000 each) to Mr. Ivany and Royal
Atlantis.
 
 In 2007,
Ivany Mining Inc. hired Paul A. Hawkins & Associates Ltd. an independent
geological services firm to further analyze and complete a National Instrument
43-101 compliance form on the property. The report covers the property optioned
from Star Uranium and outlines a detailed exploration program for the Zama Lake
property.
 
 Description
and Location of the Zama Lake Property
 
 The Zama
Lake Pb-Zn property consists of ten metallic mineral permits covering 92,160
hectares (227,732.3 acres) located 700 km north northwest of Edmonton Alberta.
The property is a grass roots Pb-Zn Play staked as the result of the discovery
of anomalous sphalerite and galena grains found in till samples collected during
diamond exploration. The property area is forested and




5
 Table of Contents




hosts
parts of the Zama Lake Oil and Gas field. Zama Lake and Zama City are oil
industry support bases and are located within the property.
 
 The Zama
Lake Pb-Zn consists of ten metallic mineral permits covering 92,160 hectares
(227,732.3 acres) located 700 km north northwest of Edmonton Alberta. The
property is a grass roots Pb-Zn Play staked as the result of the discovery of
anomalous sphalerite and galena grains found in till samples collected during
diamond exploration. The property area is forested and hosts parts of the Zama
Lake Oil and Gas field. Zama Lake and Zama City are oil industry support bases
and are located within the property. The First Nation Dene Tha’
(Assumption-Habay-Chateh) settlement exists to the south of the
property.
 
 Exploration
Potential
 
 The
presence of anomalous concentrations of sphalerite and galena in the coarse sand
fraction of till from the Zama Lake area suggests the possible presence of
proximal Pb-Zn mineralization. Given the area geology, this mineralization may
be either Sedex mineralization in the underlying shale or MVT mineralization in
the deeper carbonates.
 
 Northern
Alberta hosts a thick sequence of shale, which is cut by the Great Slave Shear
Zone which extends southwest from the Pine Point area into the Zama Lake /
Rainbow Lake area. Core studies of Keg River carbonate in the area show
dolomitization, brecciation, and the presence of cements containing fluorite,
chalcopyrite, sphalerite, and / or galena, which are indicative of hydrothermal
activity in the immediate region. This hydrothermal activity is likely present
because the association of higher temperature saddle dolomite with epigenetic
lead and zinc mineralization, hydrocarbons, and sulfate-rich carbonate proximal
to major basement faults. The discovery of significant concentrations of Zn and
Pb in modern saline formation waters emanating from Middle Devonian Keg River
Formation in northern Alberta suggests a possible ore-source in the area that
has not yet been discovered (Hitchon, 1993).
  Throughout
northern Alberta and southern Northwest Territories, numerous and extensive
thick carbonate successions occur in the cratonic platform wedge of strata
within the Western Canadian Sedimentary Basin. These same rocks host the Pine
Point MVT mineralization. No Sedex deposits have been found in Cenozoic or
Mesozoic age rocks but there is a clear association and close genetic link
between deposit types. Potential exists for both types of deposit in the Zama
Lake area.
 
 The
exploration potential of the Zama Lake Pb-Zn property lies in the recognition
that the discovery of sphalerite, galena, barite grains in heavy mineral
concentrates are being indicative of the metal bearing hydrothermal fluids
ascending through a sedimentary package which hosts carbonates and shale where
they could have deposited economic Pb-Zn deposits. Previous to this, sphalerite
and galena occurrences were known in the Devonian carbonate rocks in oil wells
in northern Alberta. High levels of metals were also found in saline formation
waters in Devonian Keg River Formation. Both the federal (GSC) and provincial
(AGS) geological surveys have been promoting the Pb-Zn conceptual potential of
the Western Canadian Sedimentary Basin for several years (Rice, 2001; Hannigan,
2002; Hannigan et al., 2003). Previous analyses of Devonian formation waters in
Northern Alberta show these waters to be Pb-rich and are thus
not




6
 Table of Contents




related
to Pine Point because the deposit is Zn-rich. Recent analysis shows that Zn
values are in an order of magnitude greater than Pb (Hannigan et al., 2003).
Lead isotope dating of the Pine Point deposits is 290 Ma (290 million years ago
or Late Pennsylvanian age). The metal-bearing fluids responsible for Pine Point
are much older and likely different than modern formation waters. Modern
formation waters are likely driven by a Laramide deformation event within the
Cretaceous. This would make the whole sedimentary package prospective for Pb-Zn
deposition.
 
 The
presence of the classical Pb - Zn - Mo anomalous geochemistry on a regional
basis in the surficial environment in the clay silt fraction of till within the
Zama Lake area indicates proximal source and not a far traveled transported
anomaly. This potential has only recently been recognized. The structural
setting of the Zama Lake Area along parallel structures to the MacDonald - Great
Slave Fault northeast-southwest system and cross cutting northwest-southwest
structures is similar in setting to the Pine Point Area. Most of these
structures are basement features, which have been reactivated over time and
penetrate nearly the full sedimentary package. These structures are likely one
of the major controls localizing mineralization.
 
 Exploration
on the Zama Lake property consisting of till sampling, examination of indicator
mineral concentrates and silt geochemistry indicates the likely proximal
presence of Pb-Zn mineralization near surface. The best potential likely exists
along structural breaks (faults), collapse structures, porous zones (tuffs), and
proximal or up dip of petroleum zones. This potential likely exists beyond the
carbonates at depth and into the shale. Further work is required to evaluate
this grass-roots Pb-Zn property of merit.
 
 Geological
Exploration Program in General and Recommendations From Our Consulting
Geologist
 
 We have
obtained an independent Technical Report on the Zama Lake property from Paul A.
Hawkins, P.Eng. Mr. Hawkins prepared the Technical Report and reviewed all
available exploration data completed on these mineral claims.
 
 The
property that is the subject of the Zama Lake property is undeveloped and does
not contain any open-pit or underground mines which can be rehabilitated. There
is no commercial production plant or equipment located on the property that is
the subject of the mineral claim. We have not yet commenced the field work phase
of our initial exploration program. Exploration is currently in the planning
stages. Our exploration program is exploratory in nature and there is no
assurance that mineral reserves will be found.
 
 In order
to further evaluate the potential of the Zama Lake property, our consulting
geologist has recommended a two-phase exploration program.




7
 Table of Contents





Phase I





Sub-surface
data should be compiled from select wells on the property to compile the shallow
stratigraphy from well logs. Any structural information from the logs would also
be valuable. Bedrock topography would also be important to avoid areas of deep
overburden. This information can likely be acquired at a minimum
cost.





Further,
more extensive bulk till and silt geochemical sampling should be untaken at a
higher density using ATV for better access into more remote and wetter areas
where summer access does not exist. Coverage of silt geochemistry sampling
should be expanded beyond that of addition bulk till sampling. Orientation
studies should also be undertaken to define variation with depth and lateral
variation within burrow pits near current anomalous areas. Increasing bulk till
sample size should also be evaluated. Data from GSC / AGS multi-element sampling
should be fully integrated into a single database.





Isotopic
age dating of the sulfide indicator minerals recovered is warranted to date the
age of the mineralization. The age date for mineralization at Pine Point is 290
million years ago. The age date for mineral at Zama Lake in the subsurface
within Devonian carbonates is of a similar age. Mineralization near surface may
relate to the Laramide Orogeny 47 ±10 Ma (million years ago). This Laramide
Orogeny likely deforms rocks up and including Cretaceous age rock. If the age
dates are much younger than the old lead dates for Pine Point, the potential for
the play increases significantly. Several of the grains should have their
isotopic composition determined.





Processing
of aeromagnetic data should be completed and targets selected for ground
follow-up. Follow-up ground geophysics should likely initially consist of ground
magnetometer, VLF-EM, HLEM and selected induced polarization (IP) surveys. The
best suite of surveys should be determined given the local ground conditions and
overburden thickness. It will likely be possible in some cases to use
pre-existing grid lines from seismic surveys. Further airborne EM with
preliminary drill targets by late fall. Total cost for the Phase I program is
estimated at $400,000.





Phase II





The
recommended Phase II program is largely a winter drilling program because of
access issues. A suite of ground geophysics would delineate drill targets.
Drilling would then be conducted on defined targets within 152.4 m (500 ft) of
surface. Where possible, surface access would be gained by using pre-existing
winter roads. Operations would likely be based out of one of Zama City’s open
camps. Special care would be required in areas of shallow natural gas. The
special care procedures would not be cost prohibitive but include extra training
of crews, spark arrestor on diesel engines and gas deflector on casings. The
drilling component of the Phase II program budget is contingent on the
delineation of suitable drill targets. A phase II budget of $1,000,000 is
recommended.




8
 Table of Contents




Exploration
Budget




Phase
      IWell
      Log Data Compilation
            $
            25,000Heavy
      Mineral Sampling
            $
            25,000Laboratory
      & Isotopic Analysis
            $
            35,000Ground
      Geophysics (IP, EM and Mag)
            $
            265,000Project
      Management and Reporting
            $
            50,000Phase
      I Total
            $
            400,000
            
            $
            400,000Phase
      IIGround
      Geophysics (IP, EM and Mag)
            $
            200,000Diamond
      Drilling (3000 m.)
            $
            750,000Project
      Management and Reporting
            $
            50,000Sub-total=
            $
            1,000,000
            
            $
            1,000,000Project
      Total=
            $
            1,400,000




Quebec
Properties





We have
also acquired a 100% interest in two large sets of mineral claims in the
province of Quebec, Canada. We have not yet commissioned geological or technical
reports on these properties and can give no data or other assurances regarding
their value or exploration potential at this time. We plan to obtain independent
reports regarding these properties in the near future. The following is a brief
description of the Quebec properties our plans for conducting initial surveying
and sampling on these claims:





Temiscamingue
property





The
Temiscamingue property is located approximately 40 kilometers east of the town
of Ville Marie and 100 kilometers south of Rouyn Noranda, halfway between the
Elliott Lake Uranium camp in Ontario and the Abitibi Gold Belt, within the
Grenville Province Front. The project is accessible via logging roads.
Government regional stream sediment survey have identified many anomalies in the
area. Property is strategically located between the claims of Superior Diamonds




9
 Table of Contents




(adjacent
to the north) where new kimberlites have recently been discovered and the
property of Aurizon Mines (adjacent to the south) which has reported as much as
100 grams of gold per ton during till sampling with the objective of identifying
the gold dispersion trains previously outlined. Ivany Mining has acquired a 100%
undivided interest of 24928.68 acres in this mineral rich Temiscamingue
region.





Regional
Geology





The
Superior Province is the largest Archean craton in the world, half of which is
located in Québec. This craton is a highly prospective region for kimberlite
exploration, meeting all four criteria for hosting economic grades of
diamond-bearing kimberlite: 1) the presence of an Archean craton; 2) the
refractive, relatively cool and low-density peridotitic root of the craton has
been insulated against reheating and excessive tectonic reworking; 3) the
presence of major tectonic structures; and 4) association of diamonds with other
intrusive rocks. Four kimberlite fields have been identified in Québec, the
Temiscamingue Field being one of these.





Local
Geology





The
Property over thrusts 2 geological structural provinces, intruded by
granite-granodiorite-mafic and ultramafic rocks all faulted and sheared. Fault
sets and lineaments intersect the Structural Thrust Front. It is on the
Central-median ridge of the “Temiscamingue Lake Rift” and on the strike of many
Diamond Kimberlite occurrences.





Stream
sediment geochemistry points to strong anomalies for Nickel, Uranium, and Rare
Earths Elements along with good gold potential and many circular shape magnetic
anomalies to be tested for their Kimberlitic potential.





Surveying and Sampling
Budget





A
two-phase exploration program is planned to evaluate the property in the
Temiscamingue Area of Quebec.  These programs involve the compilation of
pre-existing data from the Quebec Ministry of Natural Resources and Wildlife
that should be compiled, to guide to a certain extent specific exploration for
base metal and precious metal mineralization.  An airborne helicopter
triaxial magnetometer gradiometer survey is recommended to evaluate the
potential for Kimberlite Indicator Minerals (KIMs).





The
proposed budget for Temiscamingue in 2008 is CND $600, 000. The program will
mainly consist of a 100 meter space lined airborne combined survey, Magnetometry
EM-INPUT and Radiometry, ground follow up, Induced Polarization and
Scintillometry, geology, stripping, sampling, drilling, and
analysis.





Phase
One





A
geophysical airborne survey combined with Mag-EM-radiometry spaced at 100
meters. The forecast cost for 100 square kilometers is approximately $ 140,000
Canadian dollars.




10
 Table of Contents





Till
      sampling and analysis
            CDN$
            30 000Use
      of heavy machinery, clearing, and connection to paths
            CDN$
            50 000Laboratory
      analysis for multi-element samples
            CDN$
            15 000Miscellaneous,
      supervisory, and overhead
            CDN$
            30 000TOTAL
      PHASE ONE RECOMMENDATION:
            CDN$
            265 000





Phase
Two





The
second phase consists of geophysical ground survey, stripping, channel sampling,
and analysis,




Followed
      by a drilling campaign.
            CDN$
            335 000TOTAL
      COST FOR PHASE TWO:
            CDN$
            335 000TOTAL COST FOR BOTH
      PHASES:
            CDN$
            600
      000





Mont Laurier
properties





Ivany
Mining owns a 100% interest in a large group of claims situated in the area of
Mont Laurier, Quebec, the property is located less than 200 kilometers northwest
of Montreal and is easily accessible by both paved and gravel roads. The Mont
Laurier properties were acquired after Nova Uranium and Strateco Resources made
several discoveries in the area. Ivany Mining has claims adjacent to Strateco
and Nova uranium in a North/South trend. Previous exploration in the area has
resulted in many uranium showings including a grab sample showing a result of
over 70lbs/ton of U308. Also, there are estimations of sizeable U308 reserves in
the area, but theses reserves are pre NI-43 101 therefore not compliant. With
the price of U308 recently climbing to $136 per pound, there has been renewed
interesting the area. The close proximity to a major metropolitan city makes
this project very attractive as exploration and mining costs are sharply reduced
as compared to projects in remote areas.


Regional
Mineralization
 
 The Mont
Laurier Uranium Exploration Camp area is one of many radioactive districts
scattered throughout the Grenville Structure Province. Many of the Grenville
radioactive occurrences (chiefly related to intrusives of granitic composition)
are found in the southwestern extent of the structural province, extending from
southwest Quebec into eastern Ontario.


11
 Table of Contents




Local
Mineralization





The
Property hosts at least 21 historical uranium showings, where syngenetic uranium
mineralization is found in metamorphic pegmatites and granites. Some of these
major mineral showings are comprised of a collection of smaller individual
uranium occurrences.





As a
general rule, syngenetic uranium deposits form as the result of high temperature
igneous and/or metamorphic differentiation caused by the exclusion of uranium
(and other radioactive elements) from the crystal structure of most rock-forming
minerals. This type of uranium deposit is confined to high-grade metamorphic
terrains, typically occurring within Achaean to early Proterozoic aged basement
granite gneiss complexes. Deposits are normally associated with major regional
scale structural faults and/or structures related to the emplacement of
deep-seated alkaline intrusive bodies. Host rock lithologies are generally
granitic in composition, occurring as intricate dyke-sill complexes, varying in
texture from aplitic to pegmatitic. Ore minerals typically include finely
disseminated crystals of uraninite, uranothorite and allanite, with less common
secondary minerals like, uranophane or pitchblende.





Surveying and Sampling
Budget





The
general strategy for the Mont Laurier property will also consist of two phases.
The first phase will consist of a magnetic and spectometric airborne survey,
spaced at 100 meters. The survey will be flown at an altitude of 100 to 120
meters above ground. A photo-geologist will be used to identify distinct
characteristics in the rocks in order to determine the best drill
targets.





Upon
completion of the survey, we will follow up by conducting ground-geophysics in
order to identify our top-priority anomalies. The initial ground geophysics will
consist of a scientillometry survey, stripping, blasting and sampling. This work
will be followed by a drilling program.





Phase
One





The
      forecasted cost for 68 square kilometers is
            CDN$
            90 000Heavy
      machinery, ground clearing
            CDN$
            30
      000Sampling
            CDN$
            20 000Laboratories,
      analysis
            CDN$
            12 000Project
      management
            CDN$
            25 000TOTAL
      COST FOR PHASE ONE:
            CDN$
            177 000





Phase
Two





Diamond
      drilling (1000 meters)
            CDN$
            275 000Total
      cost for both phases:
            CDN$
            452,000




12
 Table of Contents




Competition
 
 The
mineral exploration industry, in general, is intensely competitive and even if
commercial quantities of reserves are discovered, a ready market may not exist
for the sale of the reserves.
 
 Most
companies operating in this industry are more established and have greater
resources to engage in the production of mineral claims. We have only recently
acquired or entered into agreements to acquire our mineral claims and our
operations are not well-established. Our resources at the present time are
limited. We may exhaust all of our resources and be unable to complete full
exploration of the Zama Lake mineral claims or our other properties. There is
also significant competition to retain qualified personnel to assist in
conducting mineral exploration activities. If a commercially viable deposit is
found to exist and we are unable to retain additional qualified personnel, we
may be unable to enter into production and achieve profitable operations. These
factors set forth above could inhibit our ability to compete with other
companies in the industry and entered into production of the mineral claim if a
commercial viable deposit is found to exist.
 
 Numerous
factors beyond our control may affect the marketability of any substances
discovered. These factors include market fluctuations, the proximity and
capacity of natural resource markets and processing equipment, government
regulations, including regulations relating to prices, taxes, royalties, land
tenure, land use, importing and exporting of minerals and environmental
protection. The exact effect of these factors cannot be accurately predicted,
but the combination of these factors may result our not receiving an adequate
return on invested capital.
 
 Plan
of Operations
 
 Our
immediate business plan is to proceed with the exploration of the Zama Lake
mineral claims to determine whether there are commercially exploitable reserves
of lead, zinc or other metals. We have commenced our initial exploration program
as recommended by our consulting geologist and as required by the Agreement
under which we have acquired the property.  Currently, our geologist
is in the process of interpreting airborne data and planning the further
exploration activities.  The complete recommended geological program
for the Zama Lake mineral claims will cost a total of approximately $1,400,000.
In addition, we plan engage in initial surveying and sampling on our Quebec
properties at a projected cost of $1,052,000. Our plan of operations for the
current fiscal year is to complete the recommended exploration programs on the
Zama Lake property and our other mineral claims.
 
 Total
expenditures over the current fiscal year are therefore expected to be
approximately $2,452,000, exclusive of administrative and overhead
costs.
 
 In order
to continue operating and to complete our planned exploration programs, we will
need to raise additional capital. We anticipate that additional funding will be
required in the form of equity financing from the sale of our common stock. We
cannot provide investors with any assurance, however, that we will be able to
raise sufficient funding from the sale of our common stock to fund all of our
anticipated expenses. We believe that outside debt financing will not be an
alternative for funding exploration programs. The risky nature of this
enterprise and lack of




13
 Table of Contents




tangible
assets other than our mineral claims places debt financing beyond the
credit-worthiness required by most banks or typical investors of corporate debt
until such time as economically viable mines can be demonstrated.
 
 We do not
have plans to purchase any significant equipment or change the number of our
employees during the next twelve months.
 
 Results
of Operations for the three and six months ended December 31, 2007 and
2006
 
 We have
not earned any revenues since the inception of our current business
operations.  We are presently in the exploration stage of our business
and we can provide no assurance that we will discover commercially exploitable
levels of mineral resources on our mineral properties, or if such resources are
discovered, that we will enter into commercial production.
 
 We
incurred operating expenses in the amount of $134,486 for the three months ended
December 31, 2007 and in the amount of $0 for the three months ended December
31, 2006.  We incurred operating expenses in the amount of $191,373
for the six months ended December 31, 2007 and in the amount of $0 for the six
months ended December 31, 2006.  We have incurred total operating
expenses of $191,373 from the inception of our current operations through
December 31, 2007.  We incurred no operating expenses from
discontinued operations in the three and six months ended December 31,
2007.  We incurred operating expenses from discontinued operations in
the amount of $5,470 in the three months ended December 30, 2006 and in the
amount of 9,876 in the six months ended December 30, 2006.  Since our
inception, we have incurred total operating expenses from discontinued
operations in the amount of $6,397,904.
 
 We
incurred a net loss in the amount of $136,786 for the three months ended
December 31, 2007 and in the amount of $5,470 for the three months ended
December 30, 2006.  We incurred a net loss in the amount of $193,673
for the six months ended December 31, 2007 and in the amount of $9,876 for the
six months ended December 30, 2006.  Since the inception of our
current operations through December 31, 2007, we have incurred a total net loss
of $191,373. Our losses are attributable to operating expenses together with a
lack of any revenues.  We anticipate our operating expenses will
increase as we continue with our plan of operations.  The increase
will be attributable to continuing with the geological exploration programs for
our several mineral claims.
 
 
 Liquidity
and Capital Resources
 
 As of
December 31, 2007, we had cash in the amount of $821,749 and a working capital
deficit of $489,605.  Our reported working capital deficit as of
December 31, however, is primarily the result of a current liability in the
amount of $1,119,000 for stock subscriptions payable.  This item
reflects cash received from purchasers of common stock in a private offering
who, as of the end of the reporting period, had not been issued the shares
purchased.  After the reporting period on January 14, 2008, the
private offering was closed and all purchasers were issued the common stock for
which they had subscribed.
 
 We have
not attained profitable operations and are dependent upon obtaining financing to
pursue




14
 Table of Contents




significant
exploration activities.  For these reasons, our auditors stated in
their report that they have substantial doubt we will be able to continue as a
going concern.
 
 We do not
anticipate earning revenues until such time that we exercise our option entered
into commercial production of our mineral properties. We are presently in the
exploration stage of our business and we can provide no assurance that we will
discover commercially exploitable levels of mineral resources our mineral
properties, or if such resources are discovered, that we will enter into
commercial production.
 
 Off
Balance Sheet Arrangements
 
 As of
December 31, 2007, there were no off balance sheet arrangements.
 
 Going
Concern
  We have
not attained profitable operations and are dependent upon obtaining financing to
pursue exploration activities. For these reasons our auditors stated in their
report that they have substantial doubt we will be able to continue as a going
concern.
 
 Our
ability to continue as a going concern is dependent our generating cash from the
sale of our common stock and/or obtaining debt financing and attaining future
profitable operations. Management’s plans include selling our equity securities
and obtaining debt financing to fund our capital requirements and ongoing
operations; however, there was is assurance we will be successful in these
efforts.
 
 Critical
Accounting Policies
 
 In
December 2001, the SEC requested that all registrants list their most “critical
accounting polices” in the Management Discussion and Analysis. The SEC indicated
that a “critical accounting policy” is one which is both important to the
portrayal of a company’s financial condition and results, and requires
management’s most difficult, subjective or complex judgments, often as a result
of the need to make estimates about the effect of matters that are inherently
uncertain. We believe that the following accounting policies fit this
definition.
 
 Recently Issued Accounting
Pronouncements
 
 In
September 2006, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 157, “Fair Value Measurements” which defines
fair value, establishes a framework for measuring fair value in generally
accepted accounting principles (GAAP), and expands disclosures about fair value
measurements. Where applicable, SFAS No. 157 simplifies and codifies
related guidance within GAAP and does not require any new fair value
measurements. SFAS No. 157 is effective for financial statements issued for
fiscal years beginning after November 15, 2007, and interim periods within
those fiscal years. Earlier adoption is encouraged. The Company does
not expect the adoption of SFAS No. 157 to have a significant effect on its
financial position or results of operation.




15
 Table of Contents




In June
2006, the Financial Accounting Standards Board  issued FASB
Interpretation No. 48, “Accounting for Uncertainty in Income Taxes – an
interpretation of FASB Statement No. 109”, which prescribes a recognition
threshold and measurement attribute for the financial statement recognition and
measurement of a tax position taken or expected to be taken in a tax
return.  FIN 48 also provides guidance on de-recognition,
classification, interest and penalties, accounting in interim periods,
disclosure and transition. FIN 48 is effective for fiscal years beginning after
December 15, 2006.  The Company does not expect the adoption of FIN 48
to have a material impact on its financial reporting, and the Company is
currently evaluating the impact, if any, the adoption of FIN 48 will have on its
disclosure requirements.
 
 In March
2006, the Financial Accounting Standards Board issued Statement of Financial
Accounting Standards No. 156, “Accounting for Servicing of Financial Assets—an
amendment of FASB Statement No. 140.” This statement requires an entity to
recognize a servicing asset or servicing liability each time it undertakes an
obligation to service a financial asset by entering into a servicing contract in
any of the following situations: a transfer of the servicer’s financial assets
that meets the requirements for sale accounting; a transfer of the servicer’s
financial assets to a qualifying special-purpose entity in a guaranteed mortgage
securitization in which the transferor retains all of the resulting securities
and classifies them as either available-for-sale securities or trading
securities; or an acquisition or assumption of an obligation to service a
financial asset that does not relate to financial assets of the servicer or its
consolidated affiliates. The statement also requires all separately recognized
servicing assets and servicing liabilities to be initially measured at fair
value, if practicable, and permits an entity to choose either the amortization
or fair value method for subsequent measurement of each class of servicing
assets and liabilities. The statement further permits, at its initial adoption,
a one-time reclassification of available for sale securities to trading
securities by entities with recognized servicing rights, without calling into
question the treatment of other available for sale securities under Statement
115, provided that the available for sale securities are identified in some
manner as offsetting the entity’s exposure to changes in fair value of servicing
assets or servicing liabilities that a servicer elects to subsequently measure
at fair value and requires separate presentation of servicing assets and
servicing liabilities subsequently measured at fair value in the statement of
financial position and additional disclosures for all separately recognized
servicing assets and servicing liabilities. This statement is effective for
fiscal years beginning after September 15, 2006, with early adoption permitted
as of the beginning of an entity’s fiscal year. Management believes the adoption
of this statement will have no immediate impact on the Company’s financial
condition or results of operations.





Item 3.     Controls and
Procedures




We
carried out an evaluation of the effectiveness of the design and operation of
our disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) as of December 31, 2007.  This evaluation was
carried out under the supervision and with the participation of our Chief
Executive Officer, Mr. Derek Ivany, and our Chief Financial Officer, Mr. Victor
Cantore.  Based upon that evaluation, our Chief Executive Officer and
Chief Financial Officer concluded that, as of December 31, 2007, our disclosure
controls and procedures are effective.  There have been no changes in
our internal controls over financial reporting during the quarter ended December
31, 2007.


16
 Table of Contents




Disclosure
controls and procedures are controls and other procedures that are designed to
ensure that information required to be disclosed in our reports filed or
submitted under the Exchange Act are recorded, processed, summarized and
reported, within the time periods specified in the SEC's rules and forms.
Disclosure controls and procedures include, without limitation, controls and
procedures designed to ensure that information required to be disclosed in our
reports filed under the Exchange Act is accumulated and communicated to
management, including our Chief Executive Officer and Chief Financial Officer,
to allow timely decisions regarding required disclosure.
 
 Limitations on the
Effectiveness of Internal Controls
 
 Our
management does not expect that our disclosure controls and procedures or our
internal control over financial reporting will necessarily prevent all fraud and
material error. Our disclosure controls and procedures are designed to provide
reasonable assurance of achieving our objectives and our Chief Executive Officer
and Chief Financial Officer concluded that our disclosure controls and
procedures are effective at that reasonable assurance level.  Further,
the design of a control system must reflect the fact that there are resource
constraints, and the benefits of controls must be considered relative to their
costs. Because of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues and instances
of fraud, if any, within the Company have been detected. These inherent
limitations include the realities that judgments in decision-making can be
faulty, and that breakdowns can occur because of simple error or mistake.
Additionally, controls can be circumvented by the individual acts of some
persons, by collusion of two or more people, or by management override of the
internal control. The design of any system of controls also is based in part
upon certain assumptions about the likelihood of future events, and there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions. Over time, control may become inadequate
because of changes in conditions, or the degree of compliance with the policies
or procedures may deteriorate.


Item 1.     Legal Proceedings





We are
not a party to any pending legal proceeding. We are not aware of any pending
legal proceeding to which any of our officers, directors, or any beneficial
holders of 5% or more of our voting securities are adverse to us or have a
material interest adverse to us.





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





None





Item 3.     Defaults upon Senior
Securities





None





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





No
matters have been submitted to our security holders for a vote, through the
solicitation of proxies or otherwise, during the quarterly period ended December
31, 2007.





Item 5.     Other Information





None





Item 6.      Exhibits





Exhibit
              Number
            Description
      of Exhibit31.1
            Certification of Chief Executive Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 302 of the
      Sarbanes-Oxley Act of 200231.2
            Certification of Chief Financial Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 302 of the
      Sarbanes-Oxley Act of 200232.1
            Certification of Chief Executive Officer and Chief
      Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant
      to Section 906 of the Sarbanes-Oxley Act of
  2002




17
 Table of Contents





SIGNATURES





In
accordance with the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.





Ivany
      Mining Inc.Date:
            February
      14, 2008By:       /s/Derek
      Ivany
              Derek
      Ivany
              Title:Chief
      Executive Officer and
Director