| [X]            | Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|----------------|-----------------------------------------------------------------------------------------|
|           |                                                                                    |
|           | For the quarterly period ended December 31, 2010                                        |
|           |                                                                                    |
| [  ] | Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934        |
|           |                                                                                    |
|           | For the transition period from __________ to __________                       |
|           |                                                                                    |
|           | Commission File Number:  000-27645                                            |

| Delaware                                                       | 88-0258277                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

| 7 Ingram Drive, Suite 128, Toronto, Ontario, Canada M6M 2L7 |
|-------------------------------------------------------------|
| (Address of principal executive offices)                    |

| (888) 648-9366 Ext. 2                                                                    |
|------------------------------------------------------------------------------------------|
| (Registrant’s telephone number)                                                    |
| _______________________________________________________________                          |
| (Former name, former address and former fiscal year, if changed since last report)  |

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

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|                                             | TABLE OF CONTENTS                                                                           |   Page |
|--------------------------------------------------|---------------------------------------------------------------------------------------------|------------------|
|  PART I – FINANCIAL INFORMATION  |
| Item 1:                                          | Financial Statements                                                                        | 3                |
| Item 2:                                          | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 4                |
| Item 3:                                          | Quantitative and Qualitative Disclosures About Market Risk                                  | 9                |
| Item 4T:                                         | Controls and Procedures                                                                     | 9                |
|  PART II – OTHER INFORMATION     |
| Item 1:                                          | Legal Proceedings                                                                           | 10               |
| Item 1A:                                         | Risk Factors                                                                                | 10               |
| Item 2:                                          | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 10               |
| Item 3:                                          | Defaults Upon Senior Securities                                                             | 10               |
| Item 4:                                          | Removed and Reserved                                                                        | 10               |
| Item 5:                                          | Other Information                                                                           | 10               |
| Item 6:                                          | Exhibits                                                                                    | 10               |

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Item 

| Our financial statements included in this Form 10-Q are as follows:  |
|---------------------------------------------------------------------------|
| F-1                                                                       | Balance Sheets as of December 31, 2010 and June 30, 2010 (unaudited); |
| F-2                                                                       | Statements of Operations for the three and six months ended December 31, 2010 and 2009 and from inception of current operations through December 31, 2010 (unaudited); |
| F-3                                                                       | Statements of Stockholders’ Equity as of December 31, 2010 (unaudited); |
| F-4                                                                       | Statements of Cash Flows for the three and six months ended December 31, 2010 and 2009 and from inception of current operations through December 31, 2010 (unaudited); |
| F-5                                                                       | Notes to Financial Statements. |

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| ASSETS                                                                                                                                            | December 31,2010 |         | June 30,2010 |
|---------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--------------|--------------|
|                                                                                                                                              |             |         |         |
| CURRENT ASSETS                                                                                                                                    |             |         |         |
|                                                                                                                                              |             |         |         |
| Cash                                                                                                                                              | $                | 207,812      |         | $ | 69,461 |
| Prepaid expenses                                                                                                                                  |             | 62,334       |         |   | - |
|                                                                                                                                              |             |         |         |   |   |
| Total Current Assets                                                                                                                              |             | 270,146      |         |   | 69,461 |
|                                                                                                                                              |             |         |         |   |   |
| EQUIPMENT, net                                                                                                                                    |             | 255          |         |   | 1,266 |
|                                                                                                                                              |             |         |         |   |   |
| TOTAL ASSETS                                                                                                                                      | $                | 270,401      |         | $ | 70,727 |
|                                                                                                                                              |             |         |         |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                                                                                    |             |         |         |   |   |
|                                                                                                                                              |             |         |         |   |   |
| CURRENT LIABILITIES                                                                                                                               |             |         |         |   |   |
|                                                                                                                                              |             |         |         |   |   |
| Accounts payable                                                                                                                                  | $                | 56,904       |         | $ | 53,422 |
|                                                                                                                                              |             |         |         |   |   |
| Total Current Liabilities                                                                                                                         |             | 56,904       |         |   | 53,422 |
|                                                                                                                                              |             |         |         |   |   |
| STOCKHOLDERS' 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, 44,206,877 and 39,506,877 shares issued and outstanding, respectively |             | 44,207       |         |   | 39,507 |
| Additional paid-in capital                                                                                                                        |             | 10,963,972   |         |   | 10,391,672 |
| Deficit accumulated during the exploration stage                                                                                                  |             | (10,794,682) |         |   | (10,413,874) |
|                                                                                                                                              |             |         |         |   |   |
| Total Stockholders' Equity (Deficit)                                                                                                              |             | 213,497      |         |   | 17,305 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                                                                         | $                | 270,401      |         | $ | 70,727 |

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|                                          | For the Three Months EndedDecember 31, |       |   | For the Six Months EndedDecember 31, |   |       | From InceptionThroughDecember 31, |   |
|-----------------------------------------------|----------------------------------------|------------|--------|--------------------------------------|--------|------------|-----------------------------------|--------|
|                                          | 2010                                   |       |   | 2009                                 |   |       | 2010                              |   |   | 2009 |   |   | 2010 |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |
| REVENUES                                      | $                                      | -          |   |                                 | $      | -          |                              |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES                            |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Exploration                                   |                                   | -          |   |                                 |   | -          |                              |   |   | - |   |   |   | - |   |   |   | 170,873 |   |
| Professional fees                             |                                   | 124,422    |   |                                 |   | 31,058     |                              |   |   | 341,786 |   |   |   | 109,658 |   |   |   | 1,455,898 |   |
| General and administrative                    |                                   | 19,232     |   |                                 |   | 252,998    |                              |   |   | 38,011 |   |   |   | 271,904 |   |   |   | 2,218,977 |   |
| Impairment of mining properties               |                                   | -          |   |                                 |   | -          |                              |   |   | - |   |   |   | - |   |   |   | 545,221 |   |
| Depreciation                                  |                                   | 506        |   |                                 |   | 505        |                              |   |   | 1,011 |   |   |   | 1,010 |   |   |   | 5,809 |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Operating Expenses                      |                                   | 144,160    |   |                                 |   | 284,561    |                              |   |   | 380,808 |   |   |   | 382,572 |   |   |   | 4,396,778 |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                          |                                   | (144,160   | )      |                                 |   | (284,561   | )                                 |   |   | (380,808 | ) |   |   | (382,572 | ) |   |   | (4,396,778) |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| INCOME TAX EXPENSE                            |                                   | -          |   |                                 |   | -          |                              |   |   | - |   |   |   | - |   |   |   | - |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM CONTINUING OPERATIONS               |                                   | (144,160   | )      |                                 |   | (284,561   | )                                 |   |   | (380,808 | ) |   |   | (382,572 | ) |   |   | (4,396,778 | ) |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| DISCONTINUED OPERATIONS                       |                                   | -          |   |                                 |   | -          |                              |   |   | - |   |   |   | - |   |   |   | (6,397,904 | ) |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS                                      | $                                      | (144,160   | )      |                                 | $      | (284,561   | )                                 |   | $ | (380,808 | ) |   | $ | (382,572 | ) |   | $ | (10,794,682 | ) |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC LOSS PER SHARE                          | $                                      | (0.00      | )      |                                 | $      | (0.01      | )                                 |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   |   |   |   |
|                                          |                                   |       |   |                                 |   |       |                              |   |   |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING |                                   | 42,230,790 |   |                                 |   | 37,031,877 |                              |   |   | 41,026,549 |   |   |   | 36,701,877 |   |   |   |   |   |

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|                                                              | Common Stock |       | AdditionalPaid-In |   | StockSubscription(Receivable) |   | DeficitAccumulatedDuring theExploration |       | TotalStockholders'Equity |
|-------------------------------------------------------------------|--------------|------------|-------------------|--------|-------------------------------|--------|-----------------------------------------|------------|--------------------------|
|                                                              | Shares       |       | Amount            |   | Capital                       |   | Payable                                 |       | Stage                    |   | (Deficit) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |
| Balance, June 30, 2005                                            |         | 246,032    |              | $      | 246                           |   | $                                       | 6,215,095  |                     | $ | - |   | $ | (6,330,697 | ) | $ | (115,356) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Net loss for the year ended June 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 ended June 30, 2007                    |         | -          |              |   | -                             |   |                                    | -          |                     |   | - |   |   | (38,689 | ) |   | (38,689) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Balance, June 30, 2007                                            |         | 246,032    |              |   | 246                           |   |                                    | 6,215,095  |                     |   | - |   |   | (6,397,904 | ) |   | (182,563) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Mineral properties acquired for common stock                 |         | 20,150,000 |              |   | 20,150                        |   |                                    | 77,958     |                     |   | - |   |   | - |   |   | 98,108 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                      |         | 5,055,845  |              |   | 5,056                         |   |                                    | 1,273,191  |                     |   | - |   |   | - |   |   | 1,278,247 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Value of options granted                                          |         | -          |              |   | -                             |   |                                    | 1,528,233  |                     |   | - |   |   | - |   |   | 1,528,233 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Net loss for the year ended June 30, 2008                    |         | -          |              |   | -                             |   |                                    | -          |                     |   | - |   |   | (2,631,422 | ) |   | (2,631,422) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Balance, June 30, 2008                                            |         | 25,451,877 |              |   | 25,452                        |   |                                    | 9,094,477  |                     |   | - |   |   | (9,029,326 | ) |   | 90,603 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for services at $0.91                    |         | 300,000    |              |   | 300                           |   |                                    | 272,700    |                     |   | - |   |   | - |   |   | 273,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for exercised options at $0.05 per share      |         | 100,000    |              |   | 100                           |   |                                    | 4,900      |                     |   | - |   |   | - |   |   | 5,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for cash at $0.05 per share              |         | 10,200,000 |              |   | 10,200                        |   |                                    | 480,800    |                     |   | 19,000 |   |   | - |   |   | 510,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Net loss for the year ended June 30, 2009                    |         | -          |              |   | -                             |   |                                    | -          |                     |   | - |   |   | (520,690 | ) |   | (520,690) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Balance, June 30, 2009                                            |         | 36,051,877 |              |   | 36,052                        |   |                                    | 9,852,877  |                     |   | 19,000 |   |   | (9,550,016 | ) |   | 357,913 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for stock subscription payable           |         | 380,000    |              |   | 380                           |   |                                    | 18,620     |                     |   | (19,000) |   |   | - |   |   | - |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for cash at $0.05 per share              |         | 600,000    |              |   | 600                           |   |                                    | 29,400     |                     |   | - |   |   | - |   |   | 30,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for exercised options at $0.10 per share |         | 2,250,000  |              |   | 2,250                         |   |                                    | 222,750    |                     |   | - |   |   | - |   |   | 225,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for services at $0.17 per shared         |         | 225,000    |              |   | 225                           |   |                                    | 38,025     |                     |   | - |   |   | - |   |   | 38,250 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Fair value of warrants issued for services                        |         | -          |              |   | -                             |   |                                    | 230,000    |                     |   | - |   |   | - |   |   | 230,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Net loss for the year ended June 30, 2010                         |         | -          |              |   | -                             |   |                                    | -          |                     |   | - |   |   | (863,858 | ) |   | (863,858) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Balance, June 30, 2010                                            |         | 39,506,877 |              |   | 39,507                        |   |                                    | 10,391,672 |                     |   | - |   |   | (10,413,874 | ) |   | 17,305 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock issued for services at $0.19 per shared         |         | 1,150,000  |              |   | 1,150                         |   |                                    | 220,850    |                     |   | - |   |   | - |   |   | 222,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Common stock and warrants issued for cash                         |         | 3,000,000  |              |   | 3,000                         |   |                                    | 297,000    |                     |   | - |   |   | - |   |   | 300,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Warrants exercised for cash at $0.10 per share               |         | 550,000    |              |   | 550                           |   |                                    | 54,450     |                     |   | - |   |   | - |   |   | 55,000 |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Net loss for the six months ended December 31, 2010               |         | -          |              |   | -                             |   |                                    | -          |                     |   | - |   |   | (380,808 | ) |   | (380,808) |
|                                                              |         |       |              |   |                          |   |                                    |       |                     |   |   |   |   |   |   |   |   |
| Balance, December 31, 2010                                        |         | 44,206,877 |              | $      | 44,207                        |   | $                                       | 10,963,972 |                     | $ | - |   | $ | (10,794,682 | ) | $ | 213,497 |

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|                                                                        | For the Six Months EndedDecember 31, |     | ThroughDecember 31, |
|-----------------------------------------------------------------------------|--------------------------------------|----------|---------------------|
|                                                                        | 2010                                 |     | 2009                |   | 2010 |
| OPERATING ACTIVITIES                                                        |                                 |     |                |   |   |
|                                                                        |                                 |     |                |   |   |
| Net loss                                                                    | $                                    | (380,808 | )                   | $ | (382,572 | ) | $ | (10,794,682) |
| Adjustments to reconcile net loss to net cash used by operating activities: |                                 |     |                |   |   |   |   |   |
| Discountinued operations                                                    |                                 | -        |                |   | - |   |   | 6,215,341 |
| Value of options granted                                                    |                                 | -        |                |   | - |   |   | 1,758,233 |
| Common stock issued for services                                            |                                 | 159,666  |                |   | - |   |   | 470,916 |
| Depreciation                                                                |                                 | 1,011    |                |   | 1,010 |   |   | 5,809 |
| Impairment of mining properties                                             |                                 | -        |                |   | - |   |   | 545,221 |
| Changes in operating assets and liabilities:                                |                                 |     |                |   |   |   |   |   |
| Change in accounts payable                                                  |                                 | 3,482    |                |   | 27,014 |   |   | 56,904 |
|                                                                        |                                 |     |                |   |   |   |   |   |
| Net Cash Used in Operating Activities                                       |                                 | (216,649 | )                   |   | (354,548 | ) |   | (1,742,258) |
|                                                                        |                                 |     |                |   |   |   |   |   |
| INVESTING ACTIVITIES                                                        |                                 |     |                |   |   |   |   |   |
|                                                                        |                                 |     |                |   |   |   |   |   |
| Purchase of mineral properties                                              |                                 | -        |                |   | - |   |   | (447,113) |
| Purchase of computer equipment                                              |                                 | -        |                |   | - |   |   | (6,064) |
|                                                                        |                                 |     |                |   |   |   |   |   |
| Net Cash Used in Investing Activities                                       |                                 | -        |                |   | - |   |   | (453,177) |
|                                                                        |                                 |     |                |   |   |   |   |   |
| FINANCING ACTIVITIES                                                        |                                 |     |                |   |   |   |   |   |
|                                                                        |                                 |     |                |   |   |   |   |   |
| Proceeds from common stock                                                  |                                 | 355,000  |                |   | 20,000 |   |   | 2,403,247 |
| Repayment of notes payable                                                  |                                 | -        |                |   | - |   |   | (40,247) |
| Proceeds from notes payable                                                 |                                 | -        |                |   | - |   |   | 40,247 |
| Repayment to shareholder                                                    |                                 | -        |                |   | - |   |   | (160,962) |
| Borrowings from shareholder                                                 |                                 | -        |                |   | 374 |   |   | 160,962 |
|                                                                        |                                 |     |                |   |   |   |   |   |
| Net Cash Provided by Financing Activities                                   |                                 | 355,000  |                |   | 20,374 |   |   | 2,403,247 |
|                                                                        |                                 |     |                |   |   |   |   |   |
| NET INCREASE (DECREASE) IN CASH                                             |                                 | 138,351  |                |   | (334,174 | ) |   | 207,812 |
| CASH AT BEGINNING OF PERIOD                                                 |                                 | 69,461   |                |   | 455,263 |   |   | - |
|                                                                        |                                 |     |                |   |   |   |   |   |
| CASH AT END OF PERIOD                                                       | $                                    | 207,812  |                | $ | 121,089 |   | $ | 207,812 |
|                                                                        |                                 |     |                |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                           |                                 |     |                |   |   |   |   |   |
|                                                                        |                                 |     |                |   |   |   |   |   |
| CASH PAID FOR:                                                              |                                 |     |                |   |   |   |   |   |
| Interest                                                                    | $                                    | -        |                | $ | - |   | $ | - |
| Income Taxes                                                                | $                                    | -        |                | $ | - |   | $ | - |
|                                                                        |                                 |     |                |   |   |   |   |   |
| NON CASH FINANCING ACTIVITIES:                                              |                                 |     |                |   |   |   |   |   |
| Common stock issued for mineral properties                                  | $                                    | -        |                | $ | - |   | $ | 98,108 |
| Common stock issued for prepaid expenses                                    |                                 | 72,000   |                |   | - |   |   | 72,000 |

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|                           | NumberOfOptions |        | WeightedAverageExercisePrice |   | ValueifExercised |
|--------------------------------|-----------------|-------------|------------------------------|--------|------------------|
| Outstanding, June 30, 2007     |            | -           |                         | $      | -                |   | $ | - |
| Granted                        |            | 2,500,000   |                         |   | 0.10             |   |   | 250,000 |
| Exercised                      |            | -           |                         |   | -                |   |   | - |
| Cancelled                      |            | -           |                         |   | -                |   |   | - |
| Outstanding, June 30, 2008     |            | 2,500,000   |                         |   | 0.10             |   |   | 250,000 |
| Exercisable, June 30, 2008     |            | 2,500,000   |                         |   | 0.10             |   |   | 250,000 |
|                           |            |        |                         |   |             |   |   |   |
| Granted                        |            | -           |                         |   | -                |   |   | - |
| Exercised                      |            | 100,000     |                         |   | 0.01             |   |   | 500 |
| Cancelled                      |            | -           |                         |   | -                |   |   | - |
| Outstanding, June 30, 2009     |            | 2,400,000   |                         |   | 0.10             |   |   | 250,500 |
| Exercisable, June 30, 2009     |            | 2,400,000   |                         |   | 0.10             |   |   | 250,500 |
|                           |            |        |                         |   |             |   |   |   |
| Granted                        |            | 1,000,000   |                         |   | 0.20             |   |   | 200,000 |
| Exercised                      |            | (2,250,000) |                         |   | 0.10             |   |   | (225,000) |
| Cancelled                      |            | -           |                         |   | -                |   |   | - |
| Outstanding, June 30, 2010     |            | 1,150,000   |                         |   | 0.20             |   |   | 225,500 |
| Exercisable, June 30, 2010     |            | 1,150,000   |                         |   | 0.20             |   |   | 225,500 |
|                           |            |        |                         |   |             |   |   |   |
| Granted                        |            | 3,000,000   |                         |   | 0.15             |   |   | 450,000 |
| Exercised                      |            | (550,000)   |                         |   | 0.10             |   |   | (55,000) |
| Cancelled                      |            | -           |                         |   | -                |   |   | - |
| Outstanding, December 31, 2010 |            | 3,600,000   |                         | $      | 0.17             |   | $ | 620,500 |
| Exercisable, December 31, 2010 |            | 3,600,000   |                         | $      | 0.17             |   | $ | 620,500 |

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| Phase 1 Cost Estimates                 |   |
|----------------------------------------|--------|
| Concrete Slab                          | $      | 12,500.00 |
| Electrical Panel & Grid Connection | $      | 13,500.00 |
| Agricultural Building                  | $      | 65,000.00 |
| Chipper & Conveyor Line            | $      | 75,000.00 |
| Skewer Lines                           | $      | 15,000.00 |
| Bailing Machine                        | $      | 3,500.00 |
| Labour                                 | $      | 8,000.00 |
| Office                                 | $      | 10,000.00 |
| Green-House                            | $      | 3,500.00 |
| Equipment & Supplies               | $      | 4,000.00 |
| Total:                                 | $      | 210,000.00 |

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| Exhibit Number | Description of Exhibit                                                                                                                                                        |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1            | 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 2002                             |
| 31.2           | 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 2002                             |
| 32.1           | 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. |
|---------------|---------------------------------------------------------------------------------------------|

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|   | Ivany Nguyen, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Date:  | February 14, 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | By:       /s/ Derek Ivany                                                                             Derek IvanyTitle:    Chief Executive Officer and Director |