UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
DC 20549





FORM
10-Q





[X]
            Quarterly
      Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934For
      the quarterly period ended September 30,
      2008[  ]
            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 has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§ 229.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files). Yes [  ] No
[X]





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





[ ]
      Large accelerated filer Accelerated filer
            [ ]
      Non-accelerated filer[X]
      Smaller reporting company





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





State the
number of shares outstanding of each of the issuer’s classes of common stock, as
of the latest practicable date:  37,031,877 Common Shares as of
November 16, 2009.











TABLE OF
      CONTENTS
            PagePART I – FINANCIAL INFORMATIONItem 1:
            Financial Statements
            3Item 2:
            Management’s Discussion and Analysis of Financial Condition and
      Results of Operations
            4Item 3:
            Quantitative and Qualitative Disclosures About Market
      Risk
            16Item 4T:
            Controls and Procedures
            16PART II – OTHER INFORMATIONItem 1:
            Legal Proceedings
            17Item 1A:
            Risk Factors
            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
            18













PART
I - FINANCIAL INFORMATION





Item1.                           Financial
Statements





Our
      financial statements included in this Form 10-Q are as
      follows:F-1
            Balance
      Sheets as of September 30, 2009 (unaudited) and June 30, 2009
      (audited);F-2
              
              F-3
            Statements
      of Operations for the three  months ended September 30, 2009 and
      2008 and from inception of current operations through September 30, 2009
      (unaudited);
              
              Statements
      of Stockholders’ Equity as of September 30, 2009
    (unaudited);F-4
            Statements
      of Cash Flows for the three months ended Sptember 30, 2009 and 2008 and
      from inception of current operations through September 30, 2009
      (unaudited);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-Q.  In the
opinion of management, all adjustments considered necessary for a fair
presentation have been included.  Operating results for the interim
period ended September 30, 2009 are not necessarily indicative of the results
that can be expected for the full year.








3







IVANY
      MINING, INC.(An
      Exploration Stage Company)Balance
      SheetsASSETSSeptember
      30,
            
            June
      30,2009
            
            2009(unaudited)
            
            (audited)CURRENT
      ASSETSCash
            
            $
            376,486
            
            
            $
            455,263Total
      Current Assets
            
            
            376,486
            
            
            
            455,263EQUIPMENT,
      net
            
            
            2,781
            
            
            
            3,286OTHER
      ASSETSMineral
      properties
            
            
            -
            
            
            
            -Total
      Other Assets
            
            
            -
            
            
            
            -TOTAL
      ASSETS
            
            $
            379,267
            
            
            $
            458,549LIABILITIES AND STOCKHOLDERS'
      EQUITYCURRENT
      LIABILITIESAccounts
      payable
            
            $
            47,783
            
            
            $
            53,653Loans
      due to shareholders
            
            
            51,582
            
            
            
            46,983Total
      Current Liabilities
            
            
            99,365
            
            
            
            100,636STOCKHOLDERS'
      EQUITYPreferred
      stock; 10,000,000 shares authorized,at
      $0.001 par value, none issued or outstandingand
      outstanding
            
            
            -
            
            
            
            -Common
      stock; 200,000,000 shares authorized,at
      $0.001 par value, 37,031,877, and 36,051,877shares
      issued and outstanding, respectively
            
            
            37,032
            
            
            
            36,052Additional
      paid-in capital
            
            
            9,900,897
            
            
            
            9,852,877Stock
      subscription (receivable) payable
            
            
            (10,000
            )
            
            
            19,000Deficit
      accumulated during the exploration stage
            
            
            (9,648,027
            )
            
            
            (9,550,016
            )Total
      Stockholders' Equity
            
            
            279,902
            
            
            
            357,913TOTAL
      LIABILITIES AND STOCKHOLDERS' EQUITY
            
            $
            379,267
            
            
            $
            458,549




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







F-1








IVANY
      MINING, INC.(An
      Exploration Stage Company)Statements
      of Operations(unaudited)From
      InceptionFor
      the Three Months Ended
            
            
            ThroughSeptember
      30,
            
            
            September
      30,2009
            
            
            2008
            
            
            2009(Restated)REVENUES
            
            $
            -
            
            
            $
            -
            
            
            $
            -OPERATING
      EXPENSESExploration
            
            
            -
            
            
            
            31,547
            
            
            
            170,873Professional
      fees
            
            
            78,600
            
            
            
            10,216
            
            
            
            547,489General
      and administrative
            
            
            18,906
            
            
            
            341,175
            
            
            
            1,983,257Impairment
      of mining properties
            
            
            -
            
            
            
            -
            
            
            
            545,221Depreciation
            
            
            505
            
            
            
            505
            
            
            
            3,283Total
      Operating Expenses
            
            
            98,011
            
            
            
            383,443
            
            
            
            3,250,123LOSS
      FROM OPERATIONS
            
            
            (98,011
            )
            
            
            (383,443
            )
            
            
            (3,250,123
            )INCOME
      TAX EXPENSE
            
            
            -
            
            
            
            -
            
            
            
            -LOSS
      FROM CONTINUING OPERATIONS
            
            
            (98,011
            )
            
            
            (383,443
            )
            
            
            (3,250,123
            )DISCONTINUED
      OPERATIONS
            
            
            -
            
            
            
            -
            
            
            
            (6,397,904
            )NET
      LOSS
            
            $
            (98,011
            )
            
            $
            (383,443
            )
            
            $
            (9,648,027
            )BASIC
      LOSS PER SHARE
            
            $
            (0.00
            )
            
            $
            (0.03
            )WEIGHTED
      AVERAGENUMBER
      OF SHARESOUTSTANDING
            
            
            36,541,877
            
            
            
            12,848,955






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








F-2











IVANY
      MINING, INC.(An
      Exploration Stage Company)Statement
      of Stockholders' Equity (unaudited)DeficitStock
            
            
            AccumulatedAdditional
            
            
            Subscription
            
            
            During
      the
            
            
            TotalCommon
      Stock
            
            
            Paid-In
            
            
            (Receivable)
            
            
            Exploration
            
            
            Stockholders'Shares
            
            
            Amount
            
            
            Capital
            
            
            Payable
            
            
            Stage
            
            
            EquityBalance,
      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
            
            
            
            -
            
            
            
            -
            
            
            
            98,108Common
      stock issued for cash
            
            
            5,055,845
            
            
            
            5,056
            
            
            
            1,273,191
            
            
            
            -
            
            
            
            -
            
            
            
            1,278,247Value
      of options granted
            
            
            -
            
            
            
            -
            
            
            
            1,528,233
            
            
            
            -
            
            
            
            -
            
            
            
            1,528,233Net
      loss for the yearended
      June 30, 2008
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (2,631,422
            )
            
            
            (2,631,422
            )Balance,
      June 30, 2008
            
            
            25,451,877
            
            
            
            25,452
            
            
            
            9,094,477
            
            
            
            -
            
            
            
            (9,029,326
            )
            
            
            90,603Common
      stock issued forservices
      at $0.91
            
            
            300,000
            
            
            
            300
            
            
            
            272,700
            
            
            
            -
            
            
            
            -
            
            
            
            273,000Common
      stock issued forcash
      at $0.05 per share
            
            
            200,000
            
            
            
            200
            
            
            
            9,800
            
            
            
            -
            
            
            
            -
            
            
            
            10,000Common
      stock issued for exercisedoptions
      at $0.05 per share
            
            
            100,000
            
            
            
            100
            
            
            
            4,900
            
            
            
            -
            
            
            
            -
            
            
            
            5,000Common
      stock issued forcash
      at $0.05 per share
            
            
            10,000,000
            
            
            
            10,000
            
            
            
            471,000
            
            
            
            19,000
            
            
            
            -
            
            
            
            500,000Net
      loss for the year endedJune
      30, 2009
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (520,690
            )
            
            
            (520,690
            )Balance,
      June 30, 2009
            
            
            36,051,877
            
            
            
            36,052
            
            
            
            9,852,877
            
            
            
            19,000
            
            
            
            (9,550,016
            )
            
            
            357,913Common
      stock issued forcash
      at $0.05 per share
            
            
            980,000
            
            
            
            980
            
            
            
            48,020
            
            
            
            (29,000
            )
            
            
            -
            
            
            
            20,000Net
      loss for the three months endedSeptember
      30, 2009
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (98,011
            )
            
            
            (98,011
            )Balance,
      September 30, 2009
            
            
            37,031,877
            
            
            $
            37,032
            
            
            $
            9,900,897
            
            
            $
            (10,000
            )
            
            $
            (9,648,027
            )
            
            $
            279,902





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







F-3









IVANY
      MINING, INC.(A
      Development Stage Company)Statements
      of Cash Flows(unaudited)From
      InceptionFor
      the Three Months Ended
            
            
            ThroughSeptember
      30,
            
            
            September
      30,2009
            
            
            2008
            
            
            2009(Restated)OPERATING
      ACTIVITIESNet
      loss
            
            $
            (98,011
            )
            
            $
            (383,443
            )
            
            $
            (9,648,027
            )Adjustments
      to reconcile net loss to net cashused
      by operating activities:Discountinued
      operations
            
            
            -
            
            
            
            -
            
            
            
            6,215,341Value
      of options granted
            
            
            -
            
            
            
            -
            
            
            
            1,528,233Common
      stock issued for services
            
            
            -
            
            
            
            273,000
            
            
            
            273,000Depreciation
            
            
            505
            
            
            
            505
            
            
            
            3,283Impairment
      of mining properties
            
            
            -
            
            
            
            -
            
            
            
            545,221Changes
      in operating assets and liabilities:Change
      in accounts payable
            
            
            (5,870
            )
            
            
            6,340
            
            
            
            47,783Net
      Cash Used inOperating
      Activities
            
            
            (103,376
            )
            
            
            (103,598
            )
            
            
            (1,035,166
            )INVESTING
      ACTIVITIESPurchase
      of mineral properties
            
            
            -
            
            
            
            -
            
            
            
            (447,113
            )Purchase
      of computer equipment
            
            
            -
            
            
            
            -
            
            
            
            (6,064
            )Net
      Cash Used inInvesting
      Activities
            
            
            -
            
            
            
            -
            
            
            
            (453,177
            )FINANCING
      ACTIVITIESProceeds
      from common stock
            
            
            20,000
            
            
            
            -
            
            
            
            1,813,247Repayment
      of notes payable
            
            
            (2,588
            )
            
            
            -
            
            
            
            (42,835
            )Proceeds
      from notes payable
            
            
            7,187
            
            
            
            -
            
            
            
            47,434Repayment
      to shareholder
            
            
            -
            
            
            
            -
            
            
            
            (113,979
            )Borrowings
      from shareholder
            
            
            -
            
            
            
            2,000
            
            
            
            160,962Net
      Cash Provided byFinancing
      Activities
            
            
            24,599
            
            
            
            2,000
            
            
            
            1,864,829NET
      INCREASE (DECREASE) IN CASH
            
            
            (78,777
            )
            
            
            (101,598
            )
            
            
            376,486CASH
      AT BEGINNING OF PERIOD
            
            
            455,263
            
            
            
            102,983
            
            
            
            -CASH
      AT END OF PERIOD
            
            $
            376,486
            
            
            $
            1,385
            
            
            $
            376,486SUPPLEMENTAL
      DISCLOSURES OFCASH
      FLOW INFORMATIONCASH
      PAID FOR:Interest
            
            $
            -
            
            
            $
            -
            
            
            $
            -Income
      Taxes
            
            $
            -
            
            
            $
            -
            
            
            $
            -NON
      CASH FINANCING ACTIVITIES:Common
      stock issued for mineral properties
            
            $
            -
            
            
            $
            98,108
            
            
            $
            98,108







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






F-4




IVANY
MINING, INC.
 NOTES TO
FINANCIAL STATEMENTS
 SEPTEMBER
30, 2009







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 make the financial statements be
not misleading and to present fairly the financial position, results of
operations, and cash flows at September 30, 2009, 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,
2009 audited financial statements.  The results of operations for the
periods ended September 30, 2009 and 2008 are not necessarily indicative of the
operating results for the full years.




Estimates




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




Recent
Accounting Pronouncements




In
May 2009, the FASB issued SFAS 165 (ASC 855-10) entitled “Subsequent
Events”.  Companies are now required to disclose the date through
which subsequent events have been evaluated by management. Public entities (as
defined) must conduct the evaluation as of the date the financial statements are
issued, and provide disclosure that such date was used for this evaluation. SFAS
165 (ASC 855-10) provides that financial statements are considered “issued” when
they are widely distributed for general use and reliance in a form and format
that complies with GAAP. SFAS 165 (ASC 855-10)  is effective for
interim and annual periods ending after June 15, 2009 and must be applied
prospectively. The adoption of SFAS 165 (ASC 855-10) during the quarter ended
September 30, 2009 did not have a significant effect on the Company’s financial
statements as of that date or for the quarter or year-to-date period then ended.
In connection with preparing the accompanying unaudited financial statements as
of September 30, 2009 and for the quarter and nine month period ended September
30, 2009, management evaluated subsequent events through the date that such
financial statements were issued (filed with the SEC)..




In
June 2009, the FASB issued SFAS 168,  The FASB Accounting Standards
Codification and the Hierarchy of Generally Accepted Accounting Principles.
(“SFAS 168” pr ASC 105-10) SFAS 168 (ASC 105-10) establishes the Codification as
the sole source of authoritative accounting principles recognized by the FASB to
be applied by all nongovernmental entities in the preparation of financial
statements in conformity with GAAP. SFAS 168 (ASC 105-10) was prospectively
effective for financial statements issued for fiscal years ending on or after
September 15, 2009 nd interim periods within those fiscal years. The adoption of
SFAS 168 (ASC 105-10) on July 1, 2009 did not impact the Company’s results of
operations or financial condition. The Codification did not change GAAP,
however, it did change the way GAAP is organized and presented. As a result,
these changes impact how companies reference GAAP in their financial statements
and in their significant accounting policies. The Company implemented the
Codification in this Report by providing references to the Codification topics
alongside references to the corresponding standards.




With
the exception of the pronouncements noted above, no other accounting standards
or interpretations issued or recently adopted are expected to have a material
impact on the Company’s financial position, operations or cash
flows.








F-5




IVANY
MINING, INC.
 NOTES TO
FINANCIAL STATEMENTS
 SEPTEMBER
30, 2009




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.






NOTE
3 - ISSUANCE OF COMMON STOCK




During
the three month period ending September 30, 2009, the Company issued 400,000
shares of common stock at a value of $0.05 per share for cash.




During
the three month period ending September 30, 2009, the Company issued 380,000
shares of common stock.  The Company had received $19,000 in exchange
for these shares during the year ended June 30, 2009.  The Company
also issued 200,000 shares of common stock for cash at $0.05 per share for which
it has not been paid as of the end of the three months September 30,
2009.




NOTE
4 - RELATED PARTY NOTE




As
of September 30, 2009, the Company had an unsecured, non interest bearing demand
loan due to a shareholder of the Company totaling $51,582.




NOTE
5 – SUBSEQUENT EVENTS




The
Company has analyzed its operations subsequent to September 30, 2009 through
November 18, 2009 and has determined that it does not have any material
subsequent events to disclose in these financial statements.










F-6











Item2.     Management’s Discussion and
Analysis of Financial Condition and Results of Operations





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





Ivany
Mining Inc. was formed as a Delaware corporation on July 13,
1999.  Our principal executive offices are located at 8720-A Rue Du
Frost, St. Leonard, Quebec, Canada H1P 2Z5.  Our telephone number is
514-325-4567.





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





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 were
required to spend a minimum of $400,000CDN toward exploration of the properties
before May 16, 2008.  We are required to spend 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.








5





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 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 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.








6





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. 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





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. 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











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
(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.








9








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.





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.








10








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.





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.








11





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 intend to proceed with the initial
exploration program as recommended by our consulting geologist and by the
Agreement under which we have acquired the property. The recommended geological
program will cost a total of approximately $1,400,000.





The
budget for our planned exploration activities on the Zama lake claims is as
follows:






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
            $400,000








Phase
      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




In
addition to exploration of the Zama Lake claims, we plan engage in initial
surveying and sampling on our Quebec properties at a projected cost of
$1,052,000.





The
budget for our planned exploration activities on the Temiscamingue property is
as follows:





Phase
One





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$
            
            670 000









12










The
budget for our planned exploration activities on the Mount Laurier properties is
as follows:





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







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.   Most recently, we
have completed an airborne survey of four townships within the
property.  We are currently analyzing the results of this survey for
the purpose of identifying target areas for follow-up exploration. The costs
incurred to date have satisfied the 2008 exploration expenditure obligations
imposed by the Agreement under which we acquired the property.  The
complete recommended geological program for the Zama Lake mineral claims will
cost a total of approximately $1,400,000.





Our plan
of operations for the current fiscal year is to continue the recommended
exploration program on the Zama Lake property.   In order to
fully complete our planned exploration programs, however, we may 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 if and when needed to fund
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
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.





Potential
Diversification





Over the
course of the current fiscal year, we may also seek to diversify our operations
by identifying opportunities in Asia to enter the agricultural sector, with a
particular focus on bamboo.  We are planning to identify and lease land
from which we can harvest bamboo poles to be sold both as raw material and
potentially processed into paper pulp.  In addition, we plan to identify
and review at other agricultural opportunities in South East
Asia.  When and if we are have identified and acquired assets and/or
operations in this sector, we will make appropriate additional
disclosures.





We do not
have plans to purchase any significant equipment or change the number of our
employees during the next twelve months.








13








Results
of Operations for the three months ended September 30, 2009 and
2008





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 expenses in the amount of $98,011 for the three months ended September
30, 2009, compared to operating expenses of $383,443 for the three months ended
September 30, 2008. We have incurred total expenses of $3,250,123 from the
inception of our current operations through September 30, 2009.  We
incurred no operating expenses from discontinued operations in the three months
ended September 30, 2009 and in the three months ended September 30,
2008.  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 $98,011 for the three months ended
September 30, 2009, compared to a net loss of $383,443 for the three months
ended September 30, 2008. Since the inception of our current operations through
September 30, 2009, we have incurred a total net loss of $3,250,123. 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, pending the receipt of adequate funding to continue with
those programs.





Liquidity
and Capital Resources





As of
September 30, 2009, we had current assets in the amount of $376,486, consisting
entirely of cash. Our current liabilities as of September 30, 2009, were
$99,365. Thus, we had working capital of $277,121 as of September 30,
2009.





We have
not attained profitable operations and are dependent upon obtaining financing to
pursue significant exploration activities. 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.





We have
incurred cumulative net losses of $3,250,123 since inception of our current
operations and require capital for our contemplated operational and marketing
activities to take place. We do not anticipate earning revenues until such time
that we enter 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.











14








Off
Balance Sheet Arrangements





As of
September 30, 2009, there were no off balance sheet arrangements.





Going
Concern





We have
not attained profitable operations and are dependent upon obtaining financing to
pursue significant exploration activities. We have incurred cumulative net
losses of approximately $9,648,027 since our inception and require capital for
our contemplated operational and marketing activities to take place. Our ability
to raise additional capital through the future issuances of the common stock is
unknown. The obtainment of additional financing, the successful development of
our contemplated plan of operations, and our transition, ultimately, to the
attainment of profitable operations are necessary for us to continue
operations.  For these reasons, our auditors stated in their report
that they have substantial doubt we will be able to continue as a going
concern.





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. Currently, we do not believe that any accounting policies fit this
definition.





Recently Issued Accounting
Pronouncements





In
June 2008, the FASB issued FASB Staff Position EITF 03-6-1, Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating Securities,
(“FSP EITF 03-6-1”). FSP EITF 03-6-1 addresses whether instruments granted in
share-based payment transactions are participating securities prior to vesting,
and therefore need to be included in the computation of earnings per share under
the two-class method as described in FASB Statement of Financial Accounting
Standards No. 128, “Earnings per Share.” FSP EITF 03-6-1 is effective for
financial statements issued for fiscal years beginning on or after
December 15, 2008 and earlier adoption is prohibited. We are not required
to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have
material effect on our consolidated financial positionand results of
operations if adopted.





In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 163,
“Accounting for Financial
Guarantee Insurance Contracts-and interpretation of FASB Statement No.
60”.SFAS
No. 163 clarifies how Statement 60 applies to financial guarantee insurance
contracts, including the recognition and measurement of  premium
revenue and claims liabilities. This statement also requires expanded
disclosures about financial guarantee insurance contracts. SFAS No. 163 is
effective for fiscal years beginning on or after December 15, 2008, and interim
periods within those years. SFAS No. 163 has no effect on the Company’s
financial position, statements of operations, or cash flows at this
time.





In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 162,
“The Hierarchy of Generally
Accepted Accounting Principles”.SFAS No. 162 sets forth
the level of authority to a given accounting pronouncement or document by
category. Where there might be conflicting guidance between two categories, the
more authoritative category will prevail. SFAS No. 162 will become effective 60
days after the SEC approves the PCAOB’s amendments to AU Section 411 of the
AICPA Professional Standards. SFAS No. 162 has no effect on the Company’s
financial position, statements of operations, or cash flows at this
time.








15





Item 3.     Quantitative and Qualitative
Disclosures About Market Risk





A smaller
reporting company is not required to provide the information required by this
Item.





Item 4T.     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 September 30, 2009.  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 September 30, 2009, our disclosure
controls and procedures are not effective.  There have been no changes
in our internal controls over financial reporting during the quarter ended
September 30, 2009.





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.







16







PART
II – OTHER INFORMATION





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 1A:  Risk Factors





A smaller
reporting company is not required to provide the information required by this
Item.





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
September 30, 2009.








Item 5.     Other
Information





None







17





Item 6.      Exhibits





Exhibit
              Number
            Description
      of Exhibit3.1
            Articles
      of Incorporation, as amended (1)3.2
            Bylaws,
      as amended (2)31.1
            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





1
            Incorporated
      by reference to Annual Report on Form 10-KSB for the period ended June 30,
      2002 filed on December 19, 2002.


2
            Incorporated
      by reference to the Registration Statement on Form 10 filed December 28,
      1999.








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:
            November
      17, 2009By:   /s/Derek
      Ivany
              Derek
      Ivany
              Title:Chief
      Executive Officer and
Director








18