|OMB APPROVAL                                                                                      
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FORM 10-KSB

UNITED STATES

ý
ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2005

r
 TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to ____________

Commission file number 333-105556

CAPITAL MINERAL INVESTORS, INC.

(Exact name of registrant as specified in its charter)

|NEVADA(State or other jurisdiction of incorporation or organization) | 25-1901892(IRS Employer Identification No.)
|-------------------------------------------------------------------- | -------------------------------------------

CAPITAL MINERAL INVESTORS, INC.
9217 Pavilion Place
Mission, British Columbia, Canada
V2V 6X6

(800) 986-4850
(Issuer's telephone number, including area code)

Securities registered under Section 12(b) of the Exchange Act:     None

Securities registered under Section 12(g) of the Exchange Act:     Common Stock

Check whether the Issuer is not required to file reports pursuant to Sections 13 or 15(d) of the Exchange Act.                                                                                    				           Yes ý
 No r

Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934, during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ý
 No r

Check if disclosure of delinquent filers pursuant to Item 405 of Regulation S-B is not contained herein, and no disclosure will be contained, to the best of the Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB.  								            Yes ý
 No r

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Indicate by a check mark whether the registrant is a shall company (as defined in Rule 12b-2 of the Exchange Act)	Yes r
 No ý

The Issuer's revenue for its most recent fiscal year is zero.

The aggregate market value of the voting common stock held by non-affiliates on March 20, 2006, computed at which the stock was sold, was $0, assuming solely for the purposes of this calculation that the directors and executive officers of the issuer are "affiliates", as there have been no bid quotations reported by the NASD since the stock started to be quoted for trading on the OTCBB on October 19, 2005.

On March 20, 2006, there were 1,745,497 shares of common voting stock, $0.001 par value per share, held by non-affiliates.

Issuers Involved in Bankruptcy Proceedings During the Past Five Years:

Not Applicable.

State the number of shares outstanding of each of the Issuer's classes of common equity, as of the latest practicable date:  March 20, 2006 - 7,749,497 shares of Common Stock

Transitional Small Business Issuer Format (check one)				            Yes r
 No ý

PART I

ITEM 1.  DESCRIPTION OF BUSINESS

General

We were incorporated in the State of Nevada on December 31, 2002.  We maintain our statutory registered agent's office at 3990 Warren Way, Reno, Nevada, USA, 89509 and our business office is located at 9217 Pavilion Place, Mission, BC, Canada, V2V 6X6.  Our telephone number is (800) 986-4850.  Our President donates our office rent-free.  Therefore there is no monthly rental cost.

Business of the Company

In 2005, when our existing mining claim (the "Hart Claim"), located in British Columbia expired, we asked Ian Casidy, a geological technician for Maverick Investment Corp., a British Columbia company, to re-stake in the same area while adding a new claim.  The re-staked property consists of two claims, the Hart 1 and the Kerry claim.  Since the property covers most of the old Hart property and adds the Kerry claim, which is adjacent to the old Hart property, we call these claims, collectively, the Hart Property.  The claims were re-staked on December 28, 2005 on MT Online, the British Columbia government's website for computer staking.  The claims are owned by Ian Casidy and are held in trust for the Company.

Location and Access

The property consists of two mineral claims totaling 35 cells, comprising 728.7 hectares (1,800 acres).  The property is located approximately 55 kilometres west-southwest of Kelowna, British Columbia and 15 kilometers west of the formerly producing Brenda copper-molybdenum mine.  Road access to the property is available from Highway 97C (Coquihalla Connector) via the Sunset Main Forestry access roads.  Access is also gained via the Kentucky-Alleyne Lakes turnoff from Highway 5A, 5 kilometers south of Aspen Grove, followed by 15 kilometers of gravel road traveling east to the Coquihalla Connector.  The property is then reached by traveling another 13 kilometers southeast along the connector.  The property is in the Similkameen Mining Division and is covered by NTS map sheets 092H089 and is centered on latitude 49°
52'30" and longitude 120°
18'30" west.

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Claim Status

The following is a list of the claims:

|Claim Name | Units (Hectares) | Units (Acres) | Tenure Number | Expiry Date      
|---------- | ---------------- | ------------- | ------------- | -----------------
|Hart 1     | 520.5 ha         | 1286.0        | 524465        | December 28, 2006
|Kerry      | 208.2 ha         | 514.0         | 524468        | December 28, 2006

In order to maintain the claims the holder must either record the exploration work carried out on that claim during the anniversary year or pay cash in lieu.  During the first three years of a claim's existence, the cash in lieu amount is US$3.40 (CDN$4.00) per unit with an additional US$.34 (CDN$0.40) per unit recording fee; the cash in lieu amount increases to US$6.80 (Cdn$8.00) per unit after the third year.  Work performed must equal or exceed the minimum specified value per unit; excess value of work in one year can be applied to cover work requirements on the claim for additional years.  During the first three years, the Company must spend over US$2,475.00 (CDN$2,912.00) each year on exploration to keep the property in good standing.  After the first three years the cost would be US$7,426.00 (CDN$8,736.00) per year.

Permits are required by the government of British Columbia for mineral exploration activities that involve surface disturbance.  As the initial recommended exploration activities for our mineral property involve little or no surface disturbance, permits are not required at this stage.

Physiography, Climate and Infrastructure

The Hart property is situated on the Okanagan Plateau of south-central British Columbia. The typical topography is gently rolling with rounded ridge tops and moderate to deeply incised stream valleys. The claims lie at an elevation ranging from 1350 metres (4450 feet)above sea level in the southeast comer of the property to a high of 1510 metres (4955 feet)in the west-central portion of the property. The forest vegetation on the property consists of mainly fir and spruce, which now has been logged in the extreme southern part of the property and east and northeast portion of the property.

The climate is characterized by relatively low precipitation with temperatures ranging from -25oC in the winter months to + 30oC in the summer months. The summer months are generally dry with moderate rains while winter snow pack is generally two metres (6.5 feet). The property is accessible year round with prospecting limited to months of when there is no snow.

The Hart property is accessed by Highway 97C (the Okanagan Connector) and a network of good gravel logging roads.  The city of Kelowna lies 55 kilometres to the east and the town of Merritt, 38 kilometres to the west. Kelowna is the major service centre for the Okanagan Valley region with Merritt playing a major part in the Nicola Valley. Sufficient equipment, service supplies and exploration personnel can be obtained in a number of localities being Merritt, Kamloops, Kelowna and Penticton.

Power is readily available from nearby transmission lines going to the former producing mine, Brenda Mines. Water in sufficient quantities for drilling is available from numerous streams and lakes.

Property Geology and Mineralization

Much of the property is covered by glacial drift. Outcrops are generally restricted to road cuts, ridge tops and stream gullies and are limited on the property.

The property is underlain by volcanic and sedimentary volcanic and sedimentary rocks of the Nicola Group and by the Middle Jurassic granites and granodiorites of the Osprey Lake batholith. The contact between these units trend northeasterly across the property. Early Tertiary feldspar porphyry stocks and dykes of the Otter intrusions occur throughout the property. Mapping by Dawson and Ray show a north-northeast striking, west-northwest dipping succession of andesite flows and tuffs ofthe Peachland Creek formation and argillites of the Stemwinder Formation.

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The main types of alteration recognized in the granitic rocks throughout the property are propylitic, argillite, sericitic, potassium feldspar stable phyllite, phyllic, advanced argillic and silicic. Locally potassic alteration skamification and silicification are evident, but are relatively minor and do not appear to be related to mineralization.

In 1991 Kingsvale Resources Inc. discovered the Annie Oakley showing in variably silicified andesite of the Upper Triassic Nicola Group, 1.2 kilometres northwest ofthe Middle Jurassic Osprey Lake batholith. The andesite is cut by a fault zone (Annie Oakley fault), striking 130o and dipping 20o south. This fault is possibly a splay off the Brew fault (see Brew, 092HNE275),1.35 kilometres northwest. The zone is strongly clay altered and occasionally cut by thin quartz veins. Trace to 1 % fine-grained pyrite is present within the fault. A sample of chips from a 2 centimetre wide drusy quartz vein associated with a narrow clay shear, assayed 2.43 grams per tonne gold, 38.1 grams per tonne silver, 0.27 per cent copper and 1.71 per cent arsenic (Assessment Report 21922, page 9, table 2, sample W ART-R2). Two other samples of quartz vein material contained scattered grains and bands of galena and sphalerite, assayed 1.17 to 2.23 grams per tonne gold, 264.7 to 1046 grams per tonne silver, 0.15 to 0.53 per cent lead, 0.92 per cent zinc and 0.38 to 0.82 per cent arsenic (Assessment Report 21922). A bulk sample yielded 1.2 grams per tonne gold and 0.7 grams per tonne silver (Assessment Report 20994)

A shear zone, 70 centimeters wide cuts coarse-grained phyllite altered granite ofthe Middle Jurassic Osprey Lake batholith near an andesite dyke. A pyretic quartz-calcite vein breccia is associated with the shear zone. A series of selected chips from the vein yielded 0.44 gram per tonne gold and 10.6 gram per tonne silver Assessment Report 21922).

The Brew occurrence located to the north of the Annie Oakley showing and is also hosted in volcanics and minor sediments of the Upper Triassic Nicola Group. The volcanics consist primarily of andesite and fmegrained diorite. The contact between the two units is gradational suggesting the diorite may be a subvolcanic equivalent of the andesite. Minor tuffs, lapilli tuffs, agglomerates and feldspar porphyritic andesite are also present. The sediments consist of mudstone, siltstone, shale and rare carbonate, intercalated with the pyroclastic units.

A major fault zone evident from the highway road cut; the Brew fault, striking 140o and dipping steeply southwest is exposed along the Coquihalla Highway for ~600 metres. The zone is approximately 40 metres wide and is somewhat gossanous and exhibits carbonate and clay alteration and sporadic silicification. Some quartz +/- calcite stringers and blebs are present but not common. Pyrite is ubiquitous along the entire disseminations of marcasite, pyrite and pyrrhotite. Samples of pyrite clay-altered sections have yielded up to 0.280 gram per tonne gold and 0.445 per cent arsenic (Assessment Report, 18041, page 8, samples 128665,44719). A sample from a zone of quartz stringers assayed 0.600 gram per tonne gold (sample 239716).

The fault is traversed by several significant fault/shear zones striking 100" to 120o. One major cross fault the Mugwump fault is exposed west of the Brew fault, striking 100o and dipping 60o south. The zone has been traces on surface for 400 metres and is 30 to 40 centimetres wide. It is comprised of strongly gossanous clay and fault gouge containing 1 to 2 per cent pyrite. A sample of quartz vein material yielded 0.14 gram per tonne gold and 14.4 grams per tonne silver (Assessment Report 180411)

Previous History

The area of the Hart property has been explored for copper and molybdenum deposits during the late 1960's and early 1990's during the exploration and development of the Brenda Mine, which is 20 kilometres to the east of the Hart 1 property. Prospecting and reconnaissance sampling carried out by Fairfield Minerals Ltd., from 1986 to 1990 revealed gold mineralization hosted by quartz veins and or sulphide pods (Rowe, 1992). From 1990 to 1995, Fairfield conducted soil geochemistry, stream sediment sampling, prospecting and geological mapping in an extensive area that included the Hart property. Numerous elevated gold values were returned from these programs.

Trenching during the 1994 field season at one of the showings near Brenda Lake to the east of the Hart property uncovered gold-quartz veins from which a 65 centimetre continuous chip sample assayed 48.0

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grams per tonne (1.4 oz/ton) gold. Five short holes totaling 124 metres were diamond drilled at this showing in 1995 but no significant gold mineralization was encountered.

2006 Field Work

Ian Casidy, Geological Technician, carried out an exploration program in January 2006, including prospecting and a ground geophysical magnetometer survey.  Approximately 65% of the Hart 1 claim was covered by the survey.  It was intended to complete the ground magnetometer survey and carry out a VLF-EM survey, which had been planned but not completed due to adverse winter weather conditions in January 2006.  The cost of the January 2006 program was $21,250.

Exploration Program Recommendations

Further exploration work will be undertaken on the Hart property to access it's potential to host high grade gold mineralization within the quartz (+sulphide) veins and/or shear zones. The magnetometer survey should be completed to cover the western/northwestern portion of the property, which was incomplete due to adverse winter weather conditions in January 2006. We will also cover the property with the planned but not undertaken VLF survey on the same chain and compass grid of the ground magnetometer survey. Only cursory exploration has been done on the Hart property, which given its close proximity to the Siwash high-grade gold deposit should be undertaken. The showings on the Hart property indicate a similar geological model; mineralization at the Siwash Gold deposit (Almaden Minerals Ltd.) is hosted in thin quartz-sulphide veins that crosscut altered volcanic rocks. A number of zones on the Almaden controlled property contain sections of parallel veining.

The program of recommended exploration will be undertaken with the goal of creating targets to test by mechanical trenching and or drilling. Initial exploration activities (grid establishment, geological sampling, soil sampling, rock sampling, geophysical surveys and mechanical trenching where deemed appropriate) do not involve ground disturbance and will not require a work permit. Any follow-up large scale trenching and drilling will require permits and any applications for which should be submitted well in advance of the planned work program.

The recommended exploration program will be an evaluation of the Annie Oakley showings and also perform a geophysical survey in conjunction with prospecting and geological mapping. The geophysical survey will cover the area not completed by ground magnetometer geophysical survey in the winter of 2006 as well as completing a VLF geophysical survey on grid lines established by the magnetometer survey. To date this kind of property scale information has not been done on this property. The primary target is a precious metal vein-type mineralization and a second target would be a porphyry style of copper-molybdenum mineralization similar to the Brenda Mine given the presence of altered intrusive rocks on the property.

This recommended exploration program is expected to be completed in the summer of 2006 with a budget of $45,000.  It will take approximately one month to complete.

Competitive Factors

The gold mining industry is fragmented.  We compete with other exploration companies looking for gold.  We are one of the smaller exploration companies in existence.  While we compete with other exploration companies, there is no competition for the exploration or removal of mineral from out of our property.  Readily available gold markets exist in Canada and around the world for the sale of gold.  Therefore, we will be able to sell any gold that we are able to recover.

Regulations

Our mineral exploration program is subject to the Canadian Mineral Tenure Act (the "Act").  This Act sets forth rules for locating claims, posting claims, working claims and reporting work performed.

We are also subject to the British Columbia Mineral Exploration Code which tells us how and where we can explore for minerals.  We must comply with these laws to operate our business.  Compliance with these rules and regulations will not adversely affect our operations.

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The British Columbia government requires permits for mineral exploration activities that require surface disturbances.

As the initial recommended exploration activities for the Hart property involve no surface disturbance, permits are not required at this stage.

We are also required to give written or verbal notification to the district inspector prior to the comment of exploration activities.

We are required to reclaim our mining claim after we completed our exploration program.  We must remove the garbage, drums of fuel, clean the spills and fill in the open trenches.

Environmental Law

We are also subject to the Health, Safety and Reclamation Code for Mines in British Columbia.  This code deals with environmental matters relating to the exploration of mining properties.  Its goals are to protect the environment through a series of regulations affecting Health, Safety Archeological Sites and exploration access.

We are responsible to provide a safe working environment, not disrupt archeological sites, and conduct our activities to prevent unnecessary damage to the property.

We will secure all necessary permits for exploration and, if exploration is warranted on the property, will file final plans of operation before we start any exploration operation.  We anticipate no discharge of water into active stream, creek, river or lake, or any other body of water regulated by environmental law or regulation.  No endangered species will be disturbed.  Restoration of the disturbed land will be completed according to law.  All holes, pits and shafts will be sealed upon abandonment of the property.  It is difficult to estimate the cost of compliance with the environmental law since the full nature and extent of our proposed activities cannot be determined until we start our operations and know what that will involve from an environmental standpoint.

We believe that we are in compliance with the Act and will continue to comply with the Act in the future.  We believe that compliance with the Act will not adversely affect our business operations in the future.

Employees

Initially, we intend to use the services of subcontractors for manual labor exploration work on the property.  Our only technical employees will be Phil Derry and Jerry Dibble, our officers and directors.

Employees and Employment Agreements

At present, we have no employees, other than Messrs. Derry and Dibble, our officers and directors, who were not paid any compensation for their services.  Messrs. Derry and Dibble do not have employment agreements with us.  We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt plans in the future.  There are presently no personal benefits available to any employee.

ITEM 2.  DESCRIPTION OF PROPERTIES

The property of our mining claims is located 55 kilometers west-southwest of Kelowna, British Columbia and 15 kilometres west of the formerly producing Brenda copper-molybdenum mine.

Our administrative office is located at 9217 Pavilion Place, Mission, BC, Canada, V2V 6X6.  Our telephone number is (800) 986-4850.  Our President donates our office rent-free and therefore there is no monthly rental for the office.

ITEM 3.  LEGAL PROCEEDINGS

We are not a party to any pending litigation and none is contemplated or threatened.

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

There were no matters submitted to the shareholders during the fourth quarter of 2005.

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PART II

ITEM 5.	MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS

Our common stock was listed on the OTCBB for trading on October 19, 2005.  There have been no bid quotations reported by the NASD since that time.  As at February 28, 2006, we had 64 shareholders of record of our common stock.

We issued 6,000,0000 unregistered common shares to the founders of the Company who are directors and officers of the Company on December 31, 2002, in a total amount of $6,000.

There are no outstanding options or warrants or other securities convertible into common equity.  The issued and outstanding 6,000,0000 common shares are restricted securities and may only be resold in compliance with Rule 144 of the Securities Act of 1933.

Pursuant to the registration statement form SB-2 (file number 333-105556) effective September 26, 2003, we carried out a public offering for the purchase of our common stock at the price of $0.10 per share to raise up to a total amount of $200,000.  The public offering was self-underwritten by one of our officers.  As of March 23, 2004, we received applications from 52 subscribers for the investment in the total amount of $34,950.  The public offering was completed on March 23, 2004, which is 180 days from the date we commenced our offering.  Share Certificates have been issued to the investors of this offering.  Among the 52 subscribers, two were the Company's original shareholders who are our directors and officers.  Each of them subscribed for 2,000 shares of our common stock at the offing price of $0.10 per share.

On May 3, 2005 we completed a private placement by issuing 1,400,000 shares of common stock to 12 subscribers at an offering price of $0.10 per share, for a gross offering price of $140,000 in an offshore transaction relying on Rule 903 of Regulation S of the Securities Act of 1933.

As of December 31, 2005, the proceeds of the $140,000 private placement raised by the Company were spent as follows:



|Loan repayment            | $25,000
|------------------------- | -------
|Exploration expenses      | 25,500 
|Audit & legal fees        | 5,495  
|Office & related expenses | 8,660  
|Balance in bank           | $75,345
|Total Proceeds Received   |        



We have not declared any cash dividends, nor do we intend to do so.  We are not subject to any legal restrictions respecting the payment of dividends, except that they may not be paid to render us insolvent.  Dividend policy will be based on our cash resources and needs and it is anticipated that all available cash will be needed for our operations in the foreseeable future.  There are no compensation plans under which our common stocks are authorized for issuance.

SEC Rule 15g

Our Company's shares are covered by Rule 15g of the Securities Exchange Act of 1934, as amended that imposes additional sales practice requirements on broker/dealers who sell such securities to persons other than established customers and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouses). For transactions covered by the Rule, the broker/dealer must make a special suitability determination for the purchase and have received the purchaser's written agreement to the transaction prior to the sale. Consequently, the Rule may affect the ability of broker/dealers to sell our securities and also may affect your ability to sell your shares in the secondary market.

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Section 15(g) of the Exchange Act also imposes additional sales practice requirements on broker/dealers who sell penny securities. These rules require a one-page summary of certain essential items. The items include the risk of investing in penny stocks in both public offerings and secondary marketing; terms important to in understanding of the function of the penny stock market, such as "bid" and "offer" quotes, a dealers "spread" and broker/dealer compensation; the broker/dealer compensation, the broker/dealers duties to its customers, including the disclosures required by any other penny stock disclosure rules; the customers rights and remedies in causes of fraud in penny stock transactions; and, the NASD's toll free telephone number and the central number of the North American Administrators Association, for information on the disciplinary history of broker/dealers and their associated persons.

ITEM 6.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS

Some discussion in this report may contain a number of forward-looking statements that reflect our current views with respect to future events and financial performance.  Forward-looking statements are often identified by words like:  believe, expect, estimate, anticipate, intend, project and similar expressions, or word which, by their nature, refer to future events.  You should not place undue certainty on these forward-looking statements, which apply only as of December 31, 2005.  These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Our Company is engaged in exploration of our property.  Our Company's principal capital resources have been acquired through issuance of common stock and from shareholder loans.

We are a start-up, exploration stage company and have not yet generated or realized any revenues from our business operations. We must raise cash in order to implement our plan and stay in business.

As at December 31, 2005, the Company had cash resources of $75,345.  We believe the funds will not last for the next 12 months.  We will borrow funds or conduct a private placement to obtain enough funds for the Company in the near future.

Results of Operations

Through Maverick Investment Corp., Ian Casidy was engaged to carry out exploration on the Hart Property in January 2006, and we paid $25,500 to Maverick Investment Corp. in November 2005 for the services of Ian Casidy.

Since inception, we have used our common stock to raise money and we have also obtained demand loans totaling $51,340.73 from our officers and directors for property acquisition, for corporate expenses and to repay outstanding indebtedness, which include legal and auditing fees.  Among the total loans of $51,340.73, $25,000 was repaid without interest on May 12, 2005.   Net cash provided by financing activities from inception to December 31, 2005 was $207,291as the result of proceeds received from the founders of the Company, from the public offering completed in March 2004 and from the private placement completed in May 2005.

In the past two years we have spent $26,700 on our property.  This includes $1,200 for the claims renewal fee in 2004 and $25,500 for the cost of our exploration program to be carried out in January 2006.

We have spent a total of $8,043 for legal fees for the year ended December 31, 2005, for the preparation and filing of the annual report, preparation and filing of the quarterly reports and for other legal advice and services.

We have spent a total of $3,899 for audit/accounting fees, $1,305 and $2,594 for the quarterly reports for the 2005 year.

For the year ended December 31, 2005, $3,930 was spent for office administration and general office costs.

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Liquidity and Capital Resources

As of December 31, 2005, we have yet to generate any revenues from our business operations.

We issued 6,000,000 founders shares on December 31, 2002.  This was accounted for as capital of $6,000.  On March 23, 2004, we completed a public offering pursuant to Form SB-2 prospectus by raising $34,950.  Since our inception, Mr. Dibble and Mr. Derry advanced demand loans to us in the total sum of $51,340.73, which was used for organizational and start-up costs and the offering expenses incurred prior to the completion of this offering.  The loans do not bear interest.  On May 3, 2005 we completed a private placement by issuing 1,400,000 shares of common stock for $140,000, of which $25,000 was repaid to Mr. Derry as partial repayment of his loan to the Company.  The balance of the proceeds were used for payment of our costs for the exploration work of January 2006, legal and accounting fees and working capital.

As of December 31, 2005, we had cash resources of $75,345.  We had total liabilities of $42,583.  This was primarily comprised of the $26,341 loan from the founders and $16,242 in accounts payable and accrued liabilities.

Our Company is engaged in exploration of our property.  Our Company's principal capital resources have been acquired through issuance of common stock and from shareholder loans.  We are a start-up, exploration stage company and have not yet generated or realized any revenues from our business operations.  We must raise cash in order to implement our plan and stay in business.  We will borrow funds or conduct a private placement to obtain enough funds for the Company in the near future.  Our recommended exploration program is expected to be completed in the summer of 2006 with a budget of $45,000.  It will take approximately one month to complete.



ITEM 7.  FINANCIAL STATEMENTS

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MOEN AND COMPANY

|Member:Canadian Institute of Chartered Accountants
Institute of Chartered Accountants of British Columbia
Institute of Management Accountants (USA) (From 1965)
Registered with:Public Company Accounting Oversight Board (USA) (PCAOB)
Canadian Public Accountability Board (CPAB)
Canada - British Columbia Public Practice Licence | Securities Commission BuildingPO Box 10129, Pacific Centre
Suite 1400 - 701 West Georgia Street
Vancouver, British Columbia
Canada V7Y 1C6Telephone: (604) 662-8899
Fax: (604) 662-8809
Email: moenca@telus.net
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Directors of
Capital Mineral Investors, Inc. (A Nevada Corporation)
(An Exploration Stage Company)

We have audited the accompanying balance sheets of Capital Mineral Investors, Inc. (A Nevada Corporation) (An Exploration Stage Company) as of December 31, 2004 and December 31, 2003, and the related statements of operations, retained earnings, cash flows and changes in stockholders' equity for the years ended December 31, 2004 and December 31, 2003. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Capital Mineral Investors, Inc. (A Nevada Corporation) (An Exploration Stage Company) as of December 31, 2004 and December 31, 2003, and the results of its operations and its cash flows for the years ended December 31, 2004 and December 31, 2003 in conformity with U.S. generally accepted accounting principles. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, conditions exist which raise substantial doubt about the Company's ability to continue as a going concern unless it is able to generate sufficient cash flows to meet its obligations and sustain its operations. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

"Moen and Company"Vancouver, British Columbia, Canada
Chartered Accountants

March 9, 2005

"Independent Accountants and Auditors"

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|D A L E   M A T H E S O N
C A R R - H I L T O N   L A B O N T ECHARTERED ACCOUNTANTS | Partnership of:
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Anthony L. Soda, Inc.
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholders and Board of Directors of Capital Mineral Investors, Inc.

We have audited the accompanying balance sheet of Capital Mineral Investors, Inc. (an exploration stage company) as of December 3 1, 2005 and the statements of operations, stockholders' equity and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. The prior year numbers were audited by other auditors. The other auditors' reports have been furnished to us, and our opinion, insofar as it relates to amounts included for such prior periods, is based solely on the reports of such other auditors.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Anaudit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, these financial statements present fairly, in all material respects, the financial position of Capital Mineral Investors, Inc. as of December 31,2005 and the results of its operations and its cash flows and the changes in stockholders' equity for the year then ended and for the period from December31, 2002 (inception) through December31, 2005 in accordance with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has not generated revenues since inception, has incurred losses in developing its business, and further losses are anticipated. The Company requires additional funds to meet its obligations and the costs of its operations. These factors raise substantial doubt about the Company's ability to continue as a going concern.  Management's plans in this regard are described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

DALE MATHESON CARR-HILTON LABONTECHARTERED ACCOUNTANTS
Vancouver, Canada
April 14,2006

Vancouver

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CAPITAL MINERAL INVESTORS, INC.

(An Exploration Stage Company)

FINANCIAL STATEMENTS

DECEMBER 31, 2005

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

BALANCE SHEETS

STATEMENTS OF OPERATIONS

STATEMENT OF STOCKHOLDERS' EQUITY

STATEMENTS OF CASH FLOWS

NOTES TO THE FINANCIAL STATEMENTS

---

CAPITAL MINERAL INVESTORS, INC. 
(An Exploration Stage Company) Balance Sheets
(In US Dollars)

|                                                   | December 31, 2005
$ |  | December 31,
2004
$
|-------------------------------------------------- | ------------------- |  | -------------------
|ASSETS                                             |                     |  |                    
|Current Assets                                     |                     |  |                    
|Cash and cash equivalents                          | 75,345              |  | 8,123              
|Prepaid expenses                                   | 21,250              |  | -                  
|Total Current Assets                               | 96,595              |  | 8,123              
|                                                   |                     |  |                    
|Equipment(Note 2)                                  | 4,342               |  | 2,430              
|                                                   |                     |  |                    
|Total Assets                                       | 100,937             |  | 10,553             
|                                                   |                     |  |                    
|LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)    
|Current Liabilities                                |                     |  |                    
|Accounts payable and accrued liabilities           | 16,242              |  | 1,330              
|Notes payable (Note 4)                             | 26,341              |  | 51,341             
|Total Current Liabilities                          | 42,583              |  | 52,671             
|                                                   |                     |  |                    
|Going concern contingency (Note 1)                 |                     |  |                    
|                                                   |                     |  |                    
|Stockholders' Equity (Deficit)                     |                     |  |                    
|Common Stock , $0.001 par value; 75,000,000 shares |                     |  |                    
|Authorized, 7,749,497 (6,349,497 - 2004)           |                     |  |                    
|Stock issued and outstanding                       | 7,750               |  | 6,350              
|Additional paid in capital                         | 173,200             |  | 34,600             
|Deficit, accumulated during exploration stage      | (122,596)           |  | (83,068)           
|                                                   |                     |  |                    
|Total Stockholders' Equity (Deficit)               | 58,354              |  | (42,118)           
|                                                   |                     |  |                    
|Total Liabilities and Stockholders' Equity         | 100,937             |  | 10,553             

The accompanying notes are an integral part of these financial statements

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CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) Statements of Operations 
(In U.S. Dollars)

|                                                     | Cumulative results of operations 
Dec. 31, 2002 (inception) to Dec. 31, 2005
$ |        |           | Year Ended Dec. 31, 2005
$ | Year Ended Dec. 31, 2004
$
|---------------------------------------------------- | ------------------------------------------------------------------------------ | ------ | --------- | -------------------------- | --------------------------
|                                                     |                                                                                |        |           |                            |                           
|Expenses                                             |                                                                                |        |           |                           
|                                                     | Accounting and audit fees                                                      | 17,270 |           |                            | 11,407                    
|                                                     | Consulting fees                                                                | 1,200  |           |                            | 1,200                     
|                                                     | Depreciation expense                                                           | 2,527  |           |                            | 567                       
|                                                     | Incorporation costs                                                            | 1,015  |           |                            | -                         
|                                                     | Legal fees                                                                     | 71,985 |           |                            | 13,632                    
|                                                     | Licences, and dues                                                             | 932    |           |                            | 407                       
|                                                     | Mineral property costs (Note 3)                                                | 8,730  |           |                            | 4,250                     
|                                                     | Office expenses                                                                | 3,165  |           |                            | 1,984                     
|                                                     | Telephone and utilities                                                        | 4,665  |           |                            | 1,871                     
|                                                     | Transfer and filing fees                                                       | 2,241  |           |                            | 1,673                     
|                                                     | Travel and promotion                                                           | 8,866  |           |                            | 2,537                     
|                                                     | 122,596                                                                        |        |           | 39,528                     | 83,068                    
|                                                     |                                                                                |        |           |                            |                           
|Net Loss                                             | ($122,596)                                                                     |        |           | ($39,528)                  | ($83,068 )                
|Basic net loss per share                             |                                                                                |        |           | ($0.01)                    | ($0.01)                   
|                                                     |                                                                                |        |           |                            |                           
|Weighted average number of common shares outstanding |                                                                                |        | 7,243,196 | 6,232,998                 

The accompanying notes are an integral part of these financial statements

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CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company)Statement of Stockholders' Equity
For the Period from Date of Inception on December 31, 2002 to December 31, 2005
(In U.S. Dollars)

|                                      | Common Stock     |          |                              |                                                  
|------------------------------------- | ---------------- | -------- | ---------------------------- | -------------------------------------------------
|                                      | Number of Shares | Amount
$ | Additional Paid-In Capital
$ | Deficit Accumulated During the Exploration Stage$
|Issuance for cash at $0.001 per share | 6,000,000        | 6,000    | -                            | -                                                
|Net loss for the year                 | -                | -        | -                            | (59,842)                                         
|                                      |                  |          |                              |                                                  
|Balance December 31, 2003             | 6,000,000        | 6,000    | -                            | (59,842)                                         
|                                      |                  |          |                              |                                                  
|Issuance for cash at $0.10 per share  | 349,497          | 350      | 34,600                       | -                                                
|Net loss for the year                 | -                | -        | -                            | (23,226)                                         
|                                      |                  |          |                              |                                                  
|Balance December 31, 2004             | 6,349,497        | 6,350    | 34,600                       | (83,068)                                         
|                                      |                  |          |                              |                                                  
|Issuance for cash at $0.10 per share  | 1,400,000        | 1,400    | 138,600                      | -                                                
|Net loss for the year                 | -                | -        | -                            | (39,528)                                         
|                                      |                  |          |                              |                                                  
|Balance December 31, 2005             | 7,749,497        | 7,750    | 173,200                      | (122,596)                                        

The accompanying notes are an integral part of these financial statements

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) Statements of Cash Flows
(In U.S. Dollars)

|                                             | Cumulative results of operations 
Dec. 31, 2002 (inception) to Dec. 31, 2005
$ | Year Ended Dec 31, 2005
$                  | Year Ended Dec 31, 2004
$
|-------------------------------------------- | ------------------------------------------------------------------------------ | ------------------------------------------ | -------------------------
|Operating Activities                         |                                                                                |                                            |                          
|                                             | Net loss                                                                       |                                            | (122,596)                
|                                             |                                                                                | Items not representing  an outlay of cash: |                          
|                                             |                                                                                | Depreciation Expense                       |                          
|                                             |                                                                                |                                            |                          
|Changes in operating assets and liabilities: |                                                                                |                                            |                          
|                                             |                                                                                | Prepaid expenses                           |                          
|                                             |                                                                                | Accounts payable and accrued liabilities   |                          
|                                             |                                                                                | (125,077)                                  | (45,299)                 
|Financing Activities                         |                                                                                |                                            |                          
|                                             | Notes payable                                                                  |                                            | 26,341                   
|                                             | Common stock subscribed                                                        |                                            | 180,950                  
|                                             |                                                                                | 207,291                                    | 115,000                  
|Investing Activities                         |                                                                                |                                            |                          
|                                             | Equipment purchases                                                            |                                            | (6,869)                  
|                                             |                                                                                |                                            |                          
|Net Increase in Cash                         |                                                                                | 75,345                                     | 67,222                   
|Cash and equivalents, beginning of year      |                                                                                | -                                          | 8,123                    
|Cash and cash equivalents, end of year       |                                                                                | $ 75,345                                   | $75,345                  

|Supplementary disclosure |  |   |   |  
|------------------------ |  | - | - | -
|Interest paid            |  | - | - | -
|Income taxes paid        |  | - | - | -

The accompanying notes are an integral part of these financial statements

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) 
At December 31, 2005
(In U.S. Dollars)

Note 1.	ORGANIZATION AND NATURE OF BUSINESS

(a)	The Company was incorporated on December 31, 2002 under the Company Act of the State of Nevada, U.S.A., to pursue mineral exploration. The inception date is December 31, 2002. The fiscal year end of the Company is December 31.

The Company has been in the exploration stage since its inception date and has not yet realized any revenues from its operation.

(b)	Going Concern

These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.    The Company has incurred losses since inception resulting in an accumulated deficit of $122,596 as at December 31, 2005 and further losses are anticipated in the development of its business raising substantial doubt about the Company's ability to continue as a going concern. The continued operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund future exploration  activities and operations and ultimately to attain profitable operations. However, there are inherent uncertainties in mineral exploration and management cannot provide assurances that it will be successful in this endeavour.

The Company will depend almost exclusively on outside capital to fund exploration, development and administrative activities. Such outside capital will include proceeds from the issuance of equity securities. There can be no assurance that capital will be available as necessary to meet these requirements or, if the capital is available, that it will be on terms acceptable to the Company.  The issuances of additional equity securities by the Company may result in a significant dilution in the equity interests of its current stockholders.  If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected.

Given the Company's limited operating history, lack of revenue, and its operating losses, there can be no assurance that it will be able to achieve or maintain profitability.

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

Exploration Stage Company

Capital Mineral Investors, Inc. is an exploration stage company as it does not have an established commercial deposit and is not in the production stage.

Use of estimates and assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates

Cash and cash equivalents

Cash and cash equivalents consist of cash on deposit and highly liquid short-term interest bearing securities with maturity at the date of purchase of three months or less.

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) 
At December 31, 2005
(In U.S. Dollars)

Note 2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Income Taxes



Basic and diluted loss per common share

As required by SFAS No. 128, Earnings per Share, basic loss per share is computed by dividing the loss for the period by the weighted average number of common stocks outstanding for the period.  Diluted loss per share reflects the potential dilution of securities by including other potential common stock, including stock options and warrants, in the weighted average number of common shares outstanding for a period and is not presented where the effect is anti-dilutive. The presentation is only of basic loss per share as the effect of potential dilution of securities has no impact on the current period's basic loss per share.

Fair value of financial instruments

In accordance with the requirements of SFAS No.107, "Disclosures about Fair Value of Financial Instruments", the Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies.  The fair value of financial instruments classified as current assets or liabilities including cash and cash equivalents, accounts payable and note payables, approximate carrying value due to the short-term maturity of the instruments.

Concentration of credit risk

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents which are not collateralized.  The Company limits its exposure to credit loss by placing its cash and cash equivalents with high credit quality financial institutions.

Long-lived assets

The Company has adopted SFAS No. 144 "Accounting for the impairment or disposal of long-lived assets."  The Company recognizes an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its expected undiscounted cash flows and measures an impairment loss as the difference between the carrying amount and fair value of the asset.

Equipment

Equipment is stated at cost less accumulated depreciation.  Depreciation is based on the declining balance basis at the following rates:

Computer	-	30% per annum

Office equipment	-	20% per annum

---

CAPITAL MINERAL INVESTORS, INC.

Note 2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

As at December 31, fixed assets and accumulated depreciation are as follows



|December 31, 2005 | Cost   | Accumulated Depreciation | Net Book 
Value
|----------------- | ------ | ------------------------ | ---------------
|Office equipment  | $1,658 | $561                     | $1,097         
|Computer          | 5,211  | 1,966                    | 3,245          
|                  | $6,869 | $2,527                   | $4,342         





|December 31, 2004 | Cost   | Accumulated Depreciation | Net Book 
Value
|----------------- | ------ | ------------------------ | ---------------
|Office equipment  | $1,658 | $429                     | $1,229         
|Computer          | 2,732  | 1,531                    | 1,201          
|                  |        |                          |                

Foreign currency translation

The financial statements are presented in United States dollars.  In accordance with Statement of Financial Accounting Standards No. 52, "Foreign Currency Translation", foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date.  Non monetary assets and liabilities are translated at the exchange rates prevailing on the transaction date. Revenue and expenses are translated at average rates of exchange during the year.  Gains or losses resulting from foreign currency transactions are included in results of operations.

Stock-based Compensation

In December 2002, the Financial Accounting Standards Board ("FASB") issued Financial Accounting Standard No. 148, "Accounting for Stock-Based Compensation - Transition and Disclosure" ("SFAS No. 148"), an amendment of Financial Accounting Standard No.123 "Accounting for Stock-Based Compensation" ("SFAS No. 123").  The purpose of SFAS No. 148 is to: (1) provide alternative methods of transition for an entity that voluntarily changes to the fair value based method of accounting for stock-based employee compensation, (2) amend the disclosure provisions to require prominent disclosure about the effects on reported net income of an entity's accounting policy decisions with respect to stock-based employee compensation, and (3) to require disclosure of those effects in interim financial information.

The Company has elected to account for stock-based employee compensation arrangements in accordance with the provisions of Accounting Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees", ("APB No. 25") and comply with the disclosure provisions of SFAS No. 123 as amended by SFAS No. 148 as described above.  In addition, in accordance with SFAS No. 123 the Company will apply the fair value method using the Black-Scholes option-pricing model in accounting for options granted to consultants. Under APB No. 25, compensation expense for employees is recognized based on the difference, if any, on the date of grant between the estimated fair value of the Company's stock and the amount an employee must pay to acquire the stock.  Compensation expense is recognized immediately for past services and pro-rata for future services over the option-vesting period.  To December 31, 2005, the Company has not granted any stock options.

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) 
At December 31, 2005
(In U.S. Dollars)

Note 2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Stock-based Compensation (Cont'd)

The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with SFAS No. 123 and the conclusions reached by the Emerging Issues Task Force ("EITF") in Issue No. 96-18. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by EITF 96-18

The Company has also adopted the provisions of the FASB Interpretation No. 44, Accounting for Certain Transactions Involving Stock Compensation - An Interpretation of APB Opinion No. 25 ("FIN 44"), which provides guidance as to certain applications of APB 25. FIN 44 is generally effective July 1, 2000 with the exception of certain events occurring after December 15, 1998.

Mineral interests

Mineral property acquisition costs are capitalized when incurred.  In accordance with Emerging Task Force Issue 04-02, such costs are classified as tangible assets and are evaluated for impairment and written down as required.

Mineral property exploration and development costs are expensed as incurred until such time as economic reserves are quantified.  To date the Company has not established any proven or probable reserves on its mineral properties.  The Company has adopted the provisions of SFAS No. 143 "Accounting for Asset Retirement Obligations" which establishes standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. As at December 31, 2005, any potential costs relating to the retirement of the Company's mineral property interest has not yet been determined.

Environmental Costs

Environmental expenditures that relate to current operations are expensed or capitalized as appropriate.  Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed.  Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated.  Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company's commitments to plan of action based on the then known facts.

Recent accounting pronouncements

In December 2004, the FASB issued SFAS No. 123R, "Share-Based Payment", which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services.  A key provision of this statement is the requirement of a public entity to measure the cost of employee services received in exchange for an award of equity instruments (including stock options) based on the grant date fair value of the award.  That cost will be recognized over the period during which an employee is required to provide service in exchange for the award (i.e., the requisite service period or vesting period).  This standard becomes effective for the Company for the interim period beginning after December 15, 2005. Management is currently evaluating the impact of this standard on the Company's financial condition and results of operations.

In March 2005, the SEC staff issued Staff Accounting Bulletin ("SAB") No. 107, "Share based payment", to give guidance on the implementation of SFAS 123R. The Company will consider SAB No. 107 during implementation of SFAS No. 123R.

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) 
At December 31, 2005
(In U.S. Dollars)

Note 2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent accounting pronouncements (Continued)

In March 2005, the FASB issued FASB Interpretation ("FIN") No. 47, "Accounting for Conditional Asset Retirement Obligations". Under the provisions of FIN No. 47, the term conditional asset retirement obligation as used in SFAS No. 143, "Accounting for Asset Retirement Obligations", refers to a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement are conditional on a future event that may or may not be within the control of the entity while the obligation to perform the asset retirement activity is unconditional. Accordingly, an entity is required to recognize a liability for the fair value of a conditional asset retirement obligation if the fair value of the liability can be reasonably estimated. The fair value of a liability for the conditional asset retirement obligation is required to be recognized when incurred - generally upon acquisition, construction, or development and/or through the normal operation of the asset. The Company has adopted FIN No. 47 as of December 31, 2005. Adoption of this pronouncement did not have a significant effect on the 2005 financial statements, and management does not expect this pronouncement to have a significant effect on our future reported financial position or earnings.

In May 2005, the Financial Accounting Standards Board ("FASB") issued SFAS No. 154, "Accounting Changes and Error Corrections - A Replacement of APB Opinion No. 20 and SFAS No. 3". SFAS No. 154 changes the requirements for the accounting for and reporting of a change in accounting principle and applies to all voluntary changes in accounting principle. It also applies to changes required by an accounting pronouncement in the unusual instance that the pronouncement does not include specific transition provisions. SFAS No. 154 requires retrospective application to prior periods' financial statements of changes in accounting principle, unless it is impracticable to determine either the period-specific effects or the cumulative effect of the change. The provisions of SFAS No. 154 are effective for accounting changes and correction of errors made in fiscal years beginning after December 15, 2005. The adoption of this standard is not expected to have a material effect on the Company's results of operations or financial position.

In July 2005, the FASB issued SFAS No. 154, "Accounting for Changes and Error Corrections - A Replacement of APB Opinion No. 20 and FASB Statement No. 3". Under the provisions of SFAS No. 154, a voluntary change in accounting principle requires retrospective application to prior period financial statements, unless it is impracticable to determine either the period-specific effects or the cumulative effect of the change. A change in depreciation, amortization, or depletion method for long-lived, non-financial assets must be accounted for as a change in accounting estimate effected by a change in accounting principle. The guidance contained in APB No. 20 for reporting the correction of an error in previously issued financial statements and a change in accounting estimate was not changed. The Company will implement this new standard beginning January 1, 2006. This standard is not expected to have a significant effect on the Company's future reported financial position or results of operations

In November 2005, the FASB issued Staff Position ("FSP") FAS115-1/124-1, "The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments", which addresses the determination as to when an investment is considered impaired, whether that impairment is other than temporary, and the measurement of an impairment loss. This FSP also includes accounting considerations subsequent to the recognition of an other-than-temporary impairment and requires certain disclosures about unrealized losses that have not been recognized as other-than-temporary impairments. The guidance in this FSP amends FASB Statements No. 115, Accounting for Certain Investments in Debt and Equity Securities, and No. 124, Accounting for Certain Investments Held by Not-for-Profit Organizations, and APB Opinion No. 18, The Equity Method of Accounting for Investments in Common Stock. This FSP is effective for reporting periods beginning after December 15, 2005. Management does not believe the adoption of this FSP will have a material impact on the Company's  future reported financial position or results of operations.

---

CAPITAL MINERAL INVESTORS, INC.
(An Exploration Stage Company) 
At December 31, 2005
(In U.S. Dollars)

Note 3.	MINERAL CLAIM

The Company is the beneficial owner of a 100% interest in two mineral claims in the Similkameen Mining Division located southwest of Kelowna, British Columbia, Canada.  In order to maintain the claims the holder must either perform exploration work on the claim during the anniversary year or pay cash in lieu of such work.  During the first three years of a claim's existence, the cash in lieu amount is US$3.40 (CDN$4.00) per unit with an additional US$0.34 (CDN$0.40) per unit as a recording fee.  The cash in lieu amount increases to US$6.80 (CDN$8) per unit after the third year.  Work performed must equal or exceed the minimum specified value per unit; and excess value of work in one year can be applied to cover work requirements on the claim for additional years.  During the first three years, the Company must spend over US$2,475 (CDN$2,912) each year on exploration to keep the property in good standing.  After the first three years the cost would be US$7,426 (CDN$8,736) per year.

Note 4.	NOTES PAYABLE

Notes payable are due to certain of the Company's directors and officers.  These notes are unsecured, non-interest bearing, and have no specific terms of repayment.

Note 5.	CAPITAL STOCK

75,000,000 common shares with a par value of $0.001 per share.

On May 12, 2005, 1,400,000 shares were issued at a price of $0.10 per share for cash proceeds of $140,000.

On April 30, 2004, 349,497 shares were issued at a price of $0.10 per share for cash proceeds of $34,950.

Note 6.	INCOME TAXES

The Company has net operating loss carry forwards for income tax purposes amounting to approximately $122,000 ($83,000 - 2004) which may be available to reduce future years' taxable income.  These carry forwards will expire, it not utilized by 2025.  Management believes that the realization of the benefits from these losses appears uncertain due to the Company's limited operating history and continuing losses.  Accordingly, a full deferred tax asset valuation allowance has been provided and no deferred tax asset benefit has been recorded.

Note 7.	SUBSEQUENT EVENTS

(a)	On March 1, 2006 the Company received $25,000 as subscription proceeds for a private placement which has not yet been closed.

(b)	On February 22, 2006, the Company paid $12,500 to stake 26 claims in Guercheville, Quebec.

Note 8.	CONTINGENCIES

The Company operates in the field of mineral exploration and is therefore subject to provincial and federal environmental regulations of Canada.  Due to the diversity of these regulations, compliance at all times cannot be assured.

Note 9.	RELATED PARTY TRANSACTIONS

The Company has received loans from directors and officers disclosed as notes payable in the balance sheet.  These notes are non-interest bearing and have no fixed terms of repayment

Note 10.	COMPARATIVE FIGURES

The prior year comparative figures have been reclassified to conform with the current year's presentation.

---

ITEM 8A.  CONTROLS AND PROCEDURES

Based on the most recent evaluation as of the end of the period covered by this Form 10-KSB, the Company's chief executive officer and chief financial officer believe the Company's disclosure controls and procedures (as defined in Exchange Act Rule 13a-14 and 15d-14) are effective.  There were not any changes in the Company's internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during the fourth fiscal quarter that has materially affected or is reasonably likely to materially affect the Company's internal control over financial reporting.  The Company is presently unable to provide segregates of duties within the Company as a means of internal control.  As a result, the Company is presently relying on overriding management short-term review procedures until such time as additional funding is provided to hire additional executive to segregate duties within the Company.

PART III

ITEM 9.	DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT OF THE COMPANY

Officers and Directors

Each of our directors is elected by stockholders to a term of one year and serves until his or her successor is elected and qualified.  Each of our officers is elected by the board of directors to a term of one year and serves until his or her successor is duly elected and qualified, or until he or she is removed from office.  The board of directors has no nominating, auditing or compensation committees.

The names, addresses, ages and positions of our present officers and directors are set forth below:

|Full Name and Resident Address                                              | Age | Positions                   
|--------------------------------------------------------------------------- | --- | ----------------------------
|Jerry Dibble
9217 Pavilion Place
Mission, BC  V2V 6X6                       | 62  | President and Director      
|Phil Derry
Windy Edge, Gloster Hill
Amble, Northumberland
England  NE 650HJ | 58  | Secretary/Treasurer/Director
|Rod Husband,
16657 Rosewood Place
Surrey, BC V4N 1W1                        | 42  | Director                    

The persons named above have held their offices/positions since inception of our company and are expected to hold their offices/positions until the next annual general meeting of our stockholders.

Background of Officers and Directors

Mr. Jerry Dibble has been our President and member of our board of directors since the inception of our business.  Mr. Dibble has devoted approximately 50% of his professional time to our business and intends to continue to devote this amount of time in the future:

Mr. Dibble has been President and CEO of Capital Mineral Investors, Inc since the inception of our business. Mr. Dibble has devoted approximately 50% of his professional time to our business and intends to continue to devote this amount of time in the future.

Mr. Dibble served in the U.S. Navy from April of 1962 to July 1966 and thereafter attended the University of Houston where he received a Bachelor of Arts degree in Economics and graduated with honors in 1970.

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Mr. Dibble has over 14 years of combined experience in the areas of corporate communications, investor relations, and public relations. He has gained experience in investor relations, corporate finance and mineral projects by managing Investors Capital of North America, a private company in Texas owned by himself, which has engaged in investor relations from September 1996 to the present.

Mr. Dibble has benefited from experience gained in the capital markets through his involvement with various public and private companies. He is currently a director of Novawest Resources, Inc. a public company engaged in mineral exploration. Novawest Resources Inc. trades on the TSX Venture (TSXV) stock exchange as a tier one company under the stock symbol NVE. Mr. Dibble has been a director of Novawest Resources since February 18, 2002.

Mr. Phil Derry has been our Secretary, Treasurer and member of our board of directors since the inception of our business.  Mr. Derry has devoted approximately 50% of his professional time to our business and intends to devote this amount of time in the future:

Mr. Derry joined the military service of UK in 1965 when he was 18 years old.  He took the telecommunications course and management studies in the military.

Since August 1996 to February 2001 he was President and CEO of Euro Telecom Communications, Inc., a US company providing IT services and traded on the pink sheets.

Since April 2001 to January 2003, Mr. Derry was CEO of ZTE UK Ltd., a subsidiary of ZTE Corporation in China, engaged in manufacturing electronic equipment.  After leaving ZTE UK Ltd. in January 2003, he formed Capital Mineral Investors, Inc.  Mr. Derry is currently a founding Director, Treasurer and Secretary of the Company.

Although Mr. Derry has no profession training or technical credentials in the exploration, development and operation of metal mines, Mr. Derry has management skills and experiences obtained from his career as President and CEO of technology companies.

Mr. Rod Husband has been a member of our board of directors since the inception of our business.  Mr. Husband has devoted approximately 2% of his professional time to our business and intends to continue to devote this amount of time in the future:

Mr. Husband received a Bachelor of Science (Geology) in 1987 from the University of British Columbia.  He has been a registered member of the Association of Professional Engineers and Geologists of British Columbia since 1992.

Mr. Husband has been involved in the venture capital market for the past 12 years, through his involvement as a geological consultant and management consultant, to various public and private companies.

Since 1991, Mr. Husband has been the president of Pro Group Geological Ltd., a private British Columbia, Canada company providing exploration and management services.

Since 1996, Mr. Husband is a director of Majestic Gold Corp., a natural resource exploration company which is listed on the TSX (MJS:TSX).

From 1996 to 2000, Mr. Husband was a director of Ballad Ventures Inc., a natural resource exploration company which is listed on the TSX (BAL:TSX).

From 1996 to 1999, Mr. Husband was a director of Kinvara Ventures Inc., a natural resource exploration company which is listed on the TSX (KIN: TSX).

Since 1995, Mr. Husband has been a partner with MCG Market Catalyst Group Inc., a private venture capital group, based in Vancouver, British Columbia.

Since 2002, Mr. Husband has been a director of Eagle River Mining Corp., a natural resource exploration company in Nevada and a public corporation having recently completed its first public offering.

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Conflicts of Interest

We believe that Mr. Rod Husband will be subject to conflicts of interest.  The conflicts of interest arise from Mr. Husband's relationships with other mining corporations.  In the future, Mr. Husband will continue to be involved in the mining business for other entities and their involvement could create a conflict of interest. At the present time, we do not foresee a direct conflict of interest because we do not intend to acquire any additional mining properties.  The only conflict that we foresee is Mr. Husband's devotion of time to mining projects that do not involve us.

Specifically, Mr. Husband is a director of Majestic Gold Corp., Ballad Ventures Inc. and Kinvara Ventures Inc., all of which are engaged in the mining business.

Involvement in Certain Legal Proceedings

To our knowledge, during the past five years, our officer and directors have: (1) not filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for the business or present of such a person, or any partnership in which he was a general partner at or within two yeas before the time of such filing, or any corporation or business association of which he was an executive officer within two years before the time of such filing; (2) were convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) were the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting the following activities: (i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliated person, director of any investment company, or engaging in or continuing any conduct or practice in connection with such activity; (ii) engaging in any type of business practice; (iii) engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodity laws; (4) were the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activity; (5) were found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law and the judgment in subsequently reversed, suspended or vacate; (6) were found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated.

Audit Committee and Audit Committee Financial Expert

At present we do not have a separately designated standing audit committee.  The entire board of directors is acting as our Company's Audit Committee, as specified in section 3(a)(58)(b) of the Exchange Act.  The board of directors has determined that at present we have no audit committee financial expert serving on the Audit Committee.  Our Company is, at present, a start-up company and has realized limited revenue from our business operations.  However, we are seeking to locate a financial expert for our Audit Committee.

Code of Ethics

We have adopted a code of ethics in compliance with Item 406 of Regulation S-B that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.  We undertake herewith to provide by mail to any person without charge, upon request, a copy of such code of ethics if we receive the request in writing by mail to:

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Capital Mineral Investors, Inc.
9217 Pavilion Place
Mission, BC
Canada  V2V 6X6

ITEM 10.  EXECUTIVE COMPENSATION

Messrs. Dibble and Derry, our officers and directors, were not compensated for their services and there are no plans to compensate them in the near future until such time as we generate sufficient revenue to do so.

Indemnification

Under our Articles of Incorporation and Bylaws of the corporation, we may indemnify an officer or director who is made a party to a proceeding, including any lawsuit, because of his position, if he acted in good faith and in a manner he reasonably believed to be in our best interest.  We may advance expenses incurred in defending a proceeding.  To the extent that the officer or director is successful on the merits in a proceeding as to which he is being indemnified, we must indemnify him against all expenses incurred, including attorney's fees.  With respect to a derivative action, indemnity may also be made only for expenses actually and reasonably incurred in defending the proceeding, and if the officer or director is judged liable, only by a court order.  The indemnification is intended to be to the fullest extent permitted by laws of the State of Nevada.

Regarding indemnification for liabilities arising under the Securities Act of 1933, which may be permitted to directors and officers under Nevada law, we are informed that, in the opinion of the Securities and Exchange Commission, indemnification is against public policy, as expressed in the Act and is, therefore, unenforceable.

ITEM 11.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Security Ownership of Certain Beneficial Owners

The following table sets forth, as of February 28, 2006, the total number of shares owned beneficially by each of our directors, officers and key employees, individually and as a group, and the present owners of 5% or more of our total outstanding shares.  The table also reflects what their ownership will be assuming completion of the sale of all shares in this offering.  The stockholder listed below has direct ownership of his shares and possesses sole voting and dispositive power with respect to the shares:

The persons named below may be deemed to be a parent and promoter of our company within the meaning of such terms under the Securities Act of 1933, as amended, by virtue of their direct and indirect stock holdings.  Messrs Dibble and Derry are the only promoters of our company.

|Name and Address of 
Beneficial Owner                                       | Number of Shares Outstanding | Percentage of Ownership
|--------------------------------------------------------------------------- | ---------------------------- | -----------------------
|Jerry Dibble
9217 Pavilion Place
Mission, BC  V2V 6X6                       | 3,002,000                    | 38.74%                 
|Phil Derry
Windy Edge, Gloster Hill
Amble, Northumberland
England  NE 650HJ | 3,002,000                    | 38.74%                 
|Rod Husband
16657 Rosewood Place
Surrey, BC V4N 1W1                         | nil                          | Nil                    
|All Officers and Directors, as a Group 
(3 persons)                         | 6,004,000                    | 77.48%                 

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Changes in Control

To the knowledge of management, there are no present arrangements or pledges of our securities that may result in a change in our control of the Company.

Equity Compensation Plans

We have no compensation plans (including individual compensation arrangements) under which securities are authorized for issuance.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

In December 31, 2002, we issued a total of 6,000,000 shares of restricted common stock to Mr. Dibble and Mr. Derry, officers and directors of the company.  This was accounted for as advances of $6,000.00.

Mr. Dibble and Mr. Derry each purchased 2,000 shares of our common stock through our public offering pursuant to the SB-2 prospectus completed on March 23, 2004.

Since our inception, Mr. Dibble and Mr. Derry have advanced demand loans to us in the total sum of $51,340.73, which was used for organizational and start-up costs and the offering expenses incurred prior to the completion of the public offering.  The loans do not bear interest and $25,000 has been repaid as of the date hereof.

ITEM 13. EXHIBITS

Exhibits

The following Exhibits are incorporated herein or by reference from the Registrant's Form SB-2 Registration Statement filed with the Securities and Exchange Commission, SEC file #333-10556 on May 23, 2003. Such exhibits are incorporated herein by reference pursuant to Rule 12b-32:

|Exhibit No. | Document Description                         
|----------- | ---------------------------------------------
|3.1*        | Articles of Association                      
|3.2*        | Bylaws                                       
|4.1*        | Specimen Stock Certificate                   
|4.2*        | Promissory Note to Jerry Dibble for $8,483.50
|4.3         | Promissory Note to Phil Derry for $17,857.23 
|10.1        | Hart 1 and Kerry Claims Letter of Trust      
|31.1        | Rule 13a-14(a)/15d-14(a) Certifications      
|32.1        | Section 1350 Certifications                  

*	Incorporated by reference to same exhibit filed with the Company's Form SB-2 Registration Statement on May 23, 2003.

ITEM 14  PRINCIPAL ACCOUNTANT FEES AND SERVICES

(1)   Audit Fee.

The aggregate fees billed by our previous accountant, Moen and Company, for services rendered for auditing and reviewing our financial statements for the 2003 and 2004 fiscal years are $3,435 and $2,428, respectively.  The aggregate fees for preparing and reviewing our quarterly reports for 2005 is $3,899.  Our current accountant, Dale Matheson Carr-Hilton Labonte, rendered its services for auditing our financial statements for the 2005 fiscal year for $7,500.

(2)   Audit Related Fees.

There have been no audit related fees billed by our accountants from the inception of our Company to our fiscal year end of December 31, 2004, and from January 1, 2005 to our fiscal year end of December 31, 2005.

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(3)   Tax Fees.

There have been no tax fees billed by our accountants from the inception of our Company to our fiscal year end of December 31, 2004, and from January 1, 2005 to our fiscal year end of December 31, 2005.

(4)   All Other Fees.

There have been no other fees billed by our accountants from the inception of our Company to our fiscal year end of December 31, 2004, and from January 1, 2005 to our fiscal year end of December 31, 2005.

(5)   It is the policy of our board of directors that before the accountant is engaged to render audit or non-audit services, the engagement is approved by the Board of Directors that is at present acting as the Audit Committee.

(6)   Not applicable.

In accordance with Section 13 or 15(d) 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, on this 17th day of April 2006.

| | CAPITAL MINERAL INVESTORS, INC.
(Registrant)
BY:  /s/ Jerry DibbleJerry DibblePresident and a member of the Board of Directors
(who also performs the function of principal Chief Executive Officer)
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In accordance with the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

|/s/ Jerry DibbleJerry Dibble
President and a member of the Board of Directors
(who also performs the function of Principal Chief Executive Officer)
April 17, 2006                       
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|/s/ Phil DerryPhil Derry
Secretary and a member of the Board of Directors (who also performs the function of Principal Financial Officer and Principal Accounting Officer)
April 17, 2006



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Rule 13a-14(a)/15d-14(a)

CERTIFICATIONS

I, Jerry Dibble, certify that:

1.	I have reviewed this annual report on Form 10-KSB of CAPITAL MINERAL INVESTORS, INC.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. 	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. 	The small business issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15e and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

5. 	The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

all significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Date: April 17, 2006

| | By: | /s/ Jerry DibblePresident and a member of the Board of Directors
(who also performs the function of Principal Chief Executive Officer)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------

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I, Phil Derry, certify that:

1.	I have reviewed this annual report on Form 10-KSB of CAPITAL MINERAL INVESTORS, INC.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. 	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. 	The small business issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15e and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)	Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)	Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

5. 	The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

(a)	all significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

(b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Date: April 17, 2006

| | By: | /s/ Phil DerryPhil Derry
Secretary and a member of the Board of Directors (who also performs the function of Principal Financial Officer and Principal Accounting Officer)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Section 1350 Certifications

CERTIFICATE OF CHIEF EXECUTIVE OFFICER

Pursuant to 18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

I, Jerry Dibble, a Director and President, who also performs the function of principal chief executive officer of Capital Mineral Investors, Inc., certify that the Annual Report on Form 10-KSB (the "Report") for the year ended December 31, 2005, filed with the Securities and Exchange Commission on the date hereof:

(i)   fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

(ii)   the information contained in the Report fairly presents in all material respects, the financial condition and results of operations of Capital Mineral Investors, Inc.

| | By: | /s/ Jerry DibblePresident and a member of the Board of Directors
(who also performs the function of Principal Chief Executive Officer)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------

A signed original of this written statement required by Section 906 has been provided to Capital Mineral Investors, Inc. and will be retained by Capital Mineral Investors, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.



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Section 1350 Certifications

CERTIFICATE OF CHIEF FINANCIAL OFFICER

Pursuant to 18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

I, Phil Derry, a Director and Secretary, who also performs the function of principal financial officer of Capital Mineral Investors, Inc., certify that the Annual Report on Form 10-KSB (the "Report") for the year ended December 31, 2005, filed with the Securities and Exchange Commission on the date hereof:

(i)   fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

(ii)   the information contained in the Report fairly presents in all material respects, the financial condition and results of operations of Capital Mineral Investors, Inc.

| | By: | /s/ Phil DerryPhil Derry
Secretary and a member of the Board of Directors (who also performs the function of Principal Financial Officer and Principal Accounting Officer)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A signed original of this written statement required by Section 906 has been provided to Capital Mineral Investors, Inc. and will be retained by Capital Mineral Investors, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.