UNITED STATES SECURITIES AND EXCHANGE
COMMISSIONWashington, D.C. 20549

FORM
10-QSB



(X)	QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF
1934

For the quarterly period ended
December 31, 2003

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

For the transition period from
______________ to ______________

Commission File Number 333-118980

YUKON RESOURCES CORP.

(Name of
small business issuer in its charter)

|NEVADA(State of incorporation or organization) | 20-0803515(IRS
			Identification No.)
|---------------------------------------------- | -------------------------------------

206-475 Howe StreetVancouver, British ColumbiaCanada, V6C
2B3(Address of principal executive offices)

(604)
629-1075(Issuer’s telephone number)

N/A(Issuer’s
former address)

Check whether the issuer (1) filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 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 X	No

5,695,000 shares of
issuer’s common stock, $0.001 par value, were outstanding at
December 31, 2004.  Issuer has no other class of common equity.

Transitional Small Business Disclosure Format (Check One)	Yes
		NoX



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PART I.  FINANCIAL INFORMATION

Yukon Resources Corp.(An
Exploration Stage Company)

December 31, 2004

(Unaudited)

|Index                                
|-------------------------------------
|Balance
				Sheet                    
|Statement
				of Operations          
|Statement
				of Cash Flows          
|Notes
				to the Financial Statements

---

Yukon
Resources Corp.(An Exploration Stage Company)Balance
Sheets(Expressed in US dollars)

|                                                                                                         | December 31,
				2004
				$
				(unaudited) |  | June 30,
				2004
				$
				(audited)
|-------------------------------------------------------------------------------------------------------- | ------------------------------------------- |  | -------------------------------------
|ASSETS                                                                                                   |                                             |  |                                      
|Current
				Assets                                                                                       |                                             |  |                                      
|Cash                                                                                                     | 50,304                                      |  | 60,459                               
|Total
				Assets                                                                                         | 50,304                                      |  | 60,459                               
|                                                                                                         |                                             |  |                                      
|LIABILITIES
				AND STOCKHOLDERS’ EQUITY                                                                 |                                             |  |                                      
|Current
				Liabilities                                                                                  |                                             |  |                                      
|Accounts
				payable                                                                                     | 1,011                                       |  | –                                    
|Accrued
				liabilities                                                                                  | 3,500                                       |  | 4,000                                
|Total
				Liabilities                                                                                    | 4,511                                       |  | 4,000                                
|Contingencies
				and Commitments (Notes 1 and 4)                                                        |                                             |  |                                      
|                                                                                                         |                                             |  |                                      
|Stockholders’
				Equity                                                                                 |                                             |  |                                      
|Common Stock, 75,000,000 shares authorized, $0.001 par value
				5,695,000 shares issued and outstanding | 5,695                                       |  | 5,695                                
|Additional
				Paid in Capital                                                                           | 55,755                                      |  | 55,755                               
|Donated
				Capital (Note 3)                                                                             | 9,500                                       |  | 5,000                                
|Deficit
				Accumulated During the Exploration Stage                                                     | (25,157)                                    |  | (9,991)                              
|Total
				Stockholders’ Equity                                                                           | 45,793                                      |  | 56,459                               
|Total
				Liabilities and Stockholders’ Equity                                                           | 50,304                                      |  | 60,459                               
|                                                                                                         |                                             |  |                                      



F-1
(The accompanying notes are an integral part of the financial statements)

---

Yukon
Resources Corp.(An Exploration Stage Company)Statement of
Operations(Expressed in US dollars)

|                                            | Period from
					March 1, 2004
					(Date of Inception)
					to December 31,
					2004
					$
					(unaudited) | Three months
					ended
					December 31,
					2004
					$
					(unaudited) | Six months
					ended
					December 31,
					2004
					$
					(unaudited) | From
					March 1, 2004
					(Date of Inception)
					to June 30,
					2004
					$
					(audited)
|------------------------------------------- | -------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------- | ------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------
|                                            |                                                                                                                |                                                                             |                                                                           |                                                                                                  
|Revenue                                     | –                                                                                                              | –                                                                           | –                                                                         | –                                                                                                
|                                            |                                                                                                                |                                                                             |                                                                           |                                                                                                  
|Expenses                                    |                                                                                                                |                                                                             |                                                                           |                                                                                                  
|Donated
					services (Note 3)              | 5,000                                                                                                          | 1,500                                                                       | 3,000                                                                     | 2,000                                                                                            
|Foreign
					currency translation gain      | (5,676)                                                                                                        | (2,418)                                                                     | (4,897)                                                                   | (779)                                                                                            
|General
					and administrative             | 2,938                                                                                                          | 1,477                                                                       | 2,868                                                                     | 70                                                                                               
|Mineral
					property costs (Note 4)        | 5,245                                                                                                          | –                                                                           | 3,545                                                                     | 1,700                                                                                            
|Professional
					fees (Note 3)             | 15,150                                                                                                         | 4,000                                                                       | 9,150                                                                     | 6,000                                                                                            
|Donated
					rent (Note 3)                  | 2,500                                                                                                          | 750                                                                         | 1,500                                                                     | 1,000                                                                                            
|Total
					Expenses                         | 25,157                                                                                                         | 5,309                                                                       | 15,166                                                                    | 9,991                                                                                            
|Net
					Loss For the Period                | (25,157)                                                                                                       | (5,309)                                                                     | (15,166)                                                                  | (9,991)                                                                                          
|                                            |                                                                                                                |                                                                             |                                                                           |                                                                                                  
|Net
					Loss Per Share – Basic and Diluted |                                                                                                                |                                                                             | –                                                                         | –                                                                                                
|                                            |                                                                                                                |                                                                             |                                                                           |                                                                                                  
|Weighted
					Average Shares Outstanding    |                                                                                                                | 5,695,000                                                                   | 5,695,000                                                                 | 3,091,000                                                                                        
|                                            |                                                                                                                |                                                                             |                                                                           |                                                                                                  



F-2
(The accompanying notes are an integral part of the financial statements)

---

Yukon
Resources Corp.(An Exploration Stage Company)Statement of
Cash Flows(Expressed in US dollars)

|                                                    | Period from
				March 1, 2004
				(Date of Inception)
				to December 31,
				2004
				$
				(unaudited) | Six months ended
				December 31, 2004
				$
				(unaudited) | From
				March 1, 2004
				(Date of Inception)
				to June 30,
				2004
				$
				(unaudited)
|--------------------------------------------------- | -------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------ | ---------------------------------------------------------------------------------------------
|Cash
				Flows Used In Operating Activities         |                                                                                                          |                                                              |                                                                                              
|                                                    |                                                                                                          |                                                              |                                                                                              
|Net
				loss for the period                         | (25,157)                                                                                                 | (15,166)                                                     | (9,991)                                                                                      
|                                                    |                                                                                                          |                                                              |                                                                                              
|Adjustments
				to reconcile net loss to cash       |                                                                                                          |                                                              |                                                                                              
|Donated
				services and expenses                   | 9,500                                                                                                    | 4,500                                                        | 5,000                                                                                        
|Foreign
				currency translation gain               | (5,676)                                                                                                  | (4,897)                                                      | (779)                                                                                        
|Mineral
				property cost                           | 1,700                                                                                                    | –                                                            | 1,700                                                                                        
|                                                    |                                                                                                          |                                                              |                                                                                              
|Change
				in operating assets and liabilities      |                                                                                                          |                                                              |                                                                                              
|Accounts
				payable and accrued liabilities        | 4,511                                                                                                    | 511                                                          | 4,000                                                                                        
|                                                    |                                                                                                          |                                                              |                                                                                              
|Net
				Cash Used In Operating Activities           | (15,122)                                                                                                 | (15,052)                                                     | (70)                                                                                         
|                                                    |                                                                                                          |                                                              |                                                                                              
|Cash
				Flows From Financing Activities            |                                                                                                          |                                                              |                                                                                              
|Proceeds
				from issuance of common stock          | 59,750                                                                                                   | –                                                            | 59,750                                                                                       
|                                                    |                                                                                                          |                                                              |                                                                                              
|Net
				Cash Flows Provided By Financing Activities | 59,750                                                                                                   | –                                                            | 59,750                                                                                       
|                                                    |                                                                                                          |                                                              |                                                                                              
|Effect
				of exchange rate changes on cash         | 5,676                                                                                                    | 4,897                                                        | 779                                                                                          
|                                                    |                                                                                                          |                                                              |                                                                                              
|Increase
				(Decrease) in Cash                     | 50,304                                                                                                   | (10,155)                                                     | 60,459                                                                                       
|                                                    |                                                                                                          |                                                              |                                                                                              
|Cash
				- Beginning of Period                      | –                                                                                                        | 60,459                                                       | –                                                                                            
|                                                    |                                                                                                          |                                                              |                                                                                              
|Cash
				- End of Period                            | 50,304                                                                                                   | 50,304                                                       | 60,459                                                                                       
|                                                    |                                                                                                          |                                                              |                                                                                              
|Non-cash
				Financing Activities                   |                                                                                                          |                                                              |                                                                                              
|Issuance
				of common shares for mineral property  | 1,700                                                                                                    | –                                                            | 1,700                                                                                        
|                                                    |                                                                                                          |                                                              |                                                                                              
|Supplemental
				Disclosures                        |                                                                                                          |                                                              |                                                                                              
|Interest
				paid                                   | –                                                                                                        | –                                                            | –                                                                                            
|Income
				taxes paid                               | –                                                                                                        | –                                                            | –                                                                                            
|                                                    |                                                                                                          |                                                              |                                                                                              



F-3
(The accompanying notes are an integral part of the financial statements)

---

1.	Exploration
Stage Company

The
Company was incorporated in the State of Nevada on March 1, 2004. The
Company is an Exploration Stage Company, as defined by Statement of
Financial Accounting Standard (“SFAS”) No.7 “Accounting
and Reporting by Development Stage Enterprises”. The
Company’s principal business is the acquisition and exploration
of mineral resources. The Company has not presently determined
whether its properties contain mineral reserves that are economically
recoverable.

These
financial statements have been prepared on a going concern basis,
which implies the Company will continue to realize its assets and
discharge its liabilities in the normal course of business. The
Company has never generated revenues since inception and has never
paid any dividends and is unlikely to pay dividends or generate
earnings in the immediate or foreseeable future. The continuation of
the Company as a going concern is dependent upon the continued
financial support from its shareholders, the ability of the Company
to obtain necessary equity financing to continue operations,
confirmation of the Company’s interests in the underlying
properties, and the attainment of profitable operations. As at
December 31, 2004, the Company has accumulated losses of $25,157
since inception. These factors raise substantial doubt regarding the
Company’s ability to continue as a going concern. These
financial statements do not include any adjustments to the
recoverability and classification of recorded asset amounts and
classification of liabilities that might be necessary should the
Company be unable to continue as a going concern.

The
Company filed an SB-2 Registration Statement with the United States
Securities and Exchange Commission that was declared effective
February, 7, 2005. The Company registered 3,195,000 shares of common
stock for resale by existing shareholders of the Company at $0.05 per
share until the shares are quoted on the OTC Bulletin Board, and
thereafter at prevailing market prices. The Company will not receive
any proceeds from the resale of shares of common stock by the selling
stockholders.



2.	Summary
of Significant Accounting Policies

1. Basis
of Presentation


These
financial statements and related notes are presented in accordance
with accounting principles generally accepted in the United States,
and are expressed in US dollars.  The Company’s fiscal year-end
is June 30.

1. Use
of Estimates


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

1. Basic
and Diluted Net Income (Loss) Per Share


The
Company computes net income (loss) per share in accordance with SFAS
No. 128, "Earnings per Share". SFAS No. 128 requires
presentation of both basic and diluted earnings per share (EPS) on
the face of the income statement. Basic EPS is computed by dividing
net income (loss) available to common shareholders (numerator) by the
weighted average number of shares outstanding (denominator) during
the period. Diluted EPS gives effect to all dilutive potential common
shares outstanding during the period using the treasury stock method
and convertible preferred stock using the if-converted method. In
computing Diluted EPS, the average stock price for the period is used
in determining the number of shares assumed to be purchased from the
exercise of stock options or warrants. Diluted EPS excludes all
dilutive potential shares if their effect is anti dilutive.

1. Comprehensive
Loss

SFAS
No. 130, “Reporting Comprehensive Income,”
establishes standards for the reporting and display of comprehensive
loss and its components in the financial statements. As at December
31, 2004, the Company has no items that represent a comprehensive
loss and, therefore, has not included a schedule of comprehensive
loss in the financial statements.

1. Cash
and Cash Equivalents


The
Company considers all highly liquid instruments with maturity of
three months or less at the time of issuance to be cash equivalents.



F-4

---

1. Mineral
Property Costs


The
Company has been in the exploration stage since its formation on
March 1, 2004 and has not yet realized any revenues from its planned
operations. It is primarily engaged in the acquisition and
exploration of mining properties. Mineral property acquisition and
exploration costs are expensed as incurred. When it has been
determined that a mineral property can be economically developed as a
result of establishing proven and probable reserves, the costs
incurred to develop such property are capitalized. Such costs will be
amortized using the units-of-production method over the estimated
life of the probable reserve. If mineral properties are subsequently
abandoned or impaired, any capitalized costs will be charged to
operations.

1. Financial
Instruments

Financial
instruments, which include cash and accrued liabilities, were
estimated to approximate their carrying values due to the immediate
or short-term maturity of these financial instruments. The Company’s
operations are in Canada which results in exposure to market risks
from changes in foreign currency rates. The financial risk is the
risk to the Company’s operations that arise from fluctuations
in foreign exchange rates and the degree of volatility of these
rates. Currently, the Company does not use derivative instruments to
reduce its exposure to foreign currency risk.

1. Income
Taxes

Potential
benefits of income tax losses are not recognized in the accounts
until realization is more likely than not. The Company has adopted
SFAS No. 109 “Accounting for Income Taxes” as of
its inception. Pursuant to SFAS No. 109 the Company is required to
compute tax asset benefits for net operating losses carried forward.
Potential benefit of net operating losses have not been recognized in
these financial statements because the Company cannot be assured it
is more likely than not it will utilize the net operating losses
carried forward in future years.

1. Foreign
Currency Translation

The
Company’s functional and reporting currency is the United
States dollar. Monetary assets and liabilities denominated in foreign
currencies are translated in accordance with SFAS No. 52 “Foreign
Currency Translation”, using the exchange rate prevailing
at the balance sheet date. Gains and losses arising on settlement of
foreign currency denominated transactions or balances are included in
the determination of income. Foreign currency transactions are
primarily undertaken in Canadian dollars. The Company has not, to the
date of these financials statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.

1. Interim
Financial Statements


These
interim unaudited financial statements have been prepared on the same
basis as the annual financial statements and in the opinion of
management, reflect all adjustments, which include only normal
recurring adjustments, necessary to present fairly the Company’s
financial position, results of operations and cash flows for the
periods shown. The results of operations for such periods are not
necessarily indicative of the results expected for a full year or for
any future period.

1. Recent
Accounting Pronouncements

In
December 2004, FASB issued SFAS No. 153, “Exchanges of
Nonmonetary Assets - An Amendment of APB Opinion No. 29”. The
guidance in APB Opinion No. 29, “Accounting for Nonmonetary
Transactions”, is based on the principle that exchanges of
nonmonetary assets should be measured based on the fair value of the
assets exchanged. The guidance in that Opinion, however, included
certain exceptions to that principle.  SFAS No. 153 amends Opinion
No. 29 to eliminate the exception for nonmonetary exchanges of
similar productive assets and replaces it with a general exception
for exchanges of nonmonetary assets that do not have commercial
substance. A nonmonetary exchange has commercial substance if the
future cash flows of the entity are expected to change significantly
as a result of the exchange.  The provisions of SFAS No. 153 are
effective for nonmonetary asset exchanges occurring in fiscal periods
beginning after June 15, 2005. Early application is permitted and
companies must apply the standard prospectively. The adoption of this
standard is not expected to have a material effect on the Company’s
results of operations or financial position.



F-5

---

1. Recent
	Accounting Pronouncements

In
December 2004, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standard (SFAS) No. 123R, “Share
Based Payment”. SFAS 123R is a revision of SFAS No. 123
“Accounting for Stock-Based Compensation”, and supersedes
APB Opinion No. 25, “Accounting for Stock Issued to Employees”
and its related implementation guidance. SFAS 123R establishes
standards for the accounting for transactions in which an entity
exchanges its equity instruments for goods or services. It also
addresses transactions in which an entity incurs liabilities in
exchange for goods or services that are based on the fair value of
the entity’s equity instruments or that may be settled by the
issuance of those equity instruments. SFAS 123R focuses primarily on
accounting for transactions in which an entity obtains employee
services in share-based payment transactions. SFAS 123R does not
change the accounting guidance for share-based payment transactions
with parties other than employees provided in SFAS 123 as originally
issued and Emerging Issues Task Force Issue No. 96-18, “Accounting
for Equity Instruments That Are Issued to Other Than Employees for
Acquiring, or in Conjunction with Selling, Goods or Services”.
SFAS 123R does not address the accounting for employee share
ownership plans, which are subject to AICPA Statement of Position
93-6, “Employers’ Accounting for Employee Stock Ownership
Plans”.  SFAS 123R requires a public entity to measure the cost
of employee services received in exchange for an award of equity
instruments based on the grant-date fair value of the award (with
limited exceptions). That cost will be recognized over the period
during which an employee is required to provide service in exchange
for the award – the requisite service period (usually the
vesting period). SFAS 123R requires that the compensation cost
relating to share-based payment transactions be recognized in
financial statements. That cost will be measured based on the fair
value of the equity or liability instruments issued. The scope of
SFAS 123R includes a wide range of share-based compensation
arrangements including share options, restricted share plans,
performance-based awards, share appreciation rights, and employee
share purchase plans. Public entities (other than those filing as
small business issuers) will be required to apply SFAS 123R as of the
first interim or annual reporting period that begins after June 15,
2005. Public entities that file as small business issuers will be
required to apply SFAS 123R in the first interim or annual reporting
period that begins after December 15, 2005. For nonpublic entities,
SFAS 123R must be applied as of the beginning of the first annual
reporting period 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.

3.	Related
Party Balances/Transactions

1. During
	the six-month period ended December 31, 2004, the Company recognized
	a total of $3,000 for donated services at $500 per month and $1,500
	for donated rent at $250 per month provided by the President of the
	Company.
2. During
	the period from inception (March 1, 2004) to June 30, 2004, the
	Company recognized a total of $2,000 for donated services at $500
	per month and $1,000 for donated rent at $250 per month provided by
	the President of the Company.  A director also contributed
	organizational and legal costs of $2,000 on behalf of the Company.
3. During
	the period ended June 30, 2004, the Company entered into a mineral
	property agreement and several trust agreements with the President
	of the Company.  Refer to Note 4.

4.	Mineral
Properties

The
Company entered into an Agreement dated May 14, 2004 with the
President of the Company to acquire a 100% interest in seven mineral
claims located in the Cariboo Mining Division, British Columbia,
Canada, in consideration for the issuance of 2,500,000 shares of
common stock.  The claims are registered in the name of the
President, who has executed several trust agreements whereby the
President agreed to hold the claims in trust on behalf of the
Company. During the prior year ended June 30, 2004, the cost of
mineral properties charged to operations by the Company of $1,700
represented the original cost of the properties incurred by the
President.

F-6

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5.	Common
Shares

1. During
	March, 2004, the Company issued 2,500,000 shares of common stock at
	a price of $0.01 per share for cash proceeds of $25,000.
2. On
	May 14, 2004, the Company issued 2,500,000 shares of common stock
	for the acquisition of mineral claims from a related party recorded
	at the transferors cost of $1,700 in total. Refer to Note 4.
3. During
	May, 2004, the Company issued 225,000 shares of common stock at a
	price of $0.05 per share for cash proceeds of $11,250.
4. During
	June, 2004, the Company issued 470,000 shares of common stock at a
	price of $0.05 per share for cash proceeds of $23,500.



F-7

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Item 2.  Management's Discussion and Analysis.

Forward
Looking Statements

The information in this quarterly report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). These
forward-looking statements involve risks and uncertainties, including
statements regarding the Company's capital needs, business strategy
and expectations. Any statements contained herein that are not
statements of historical facts may be deemed to be forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may”, “will”,
“should”, “expect”, “plan”,
“intend”, “anticipate”,
“believe”, “estimate”,
“predict”, “potential” or
“continue”, the negative of such terms or other
comparable terminology. Actual events or results may differ
materially. In evaluating these statements, you should consider
various factors, including the risks outlined from time to time, in
other reports we file with the Securities and Exchange Commission
(the “SEC”). These factors may cause our actual
results to differ materially from any forward-looking statement. We
disclaim any obligation to publicly update these statements, or
disclose any difference between its actual results and those
reflected in these statements. The information constitutes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.

Overview

We are in
the business of gold exploration. We acquired seven placer claims in
British Columbia, Canada from our President on May 14, 2004 for the
issuance of 2,500,000 shares of our common stock to him. Under the
British Columbia Mineral Tenure Act, title to British Columbia
mineral and placer claims can only be held by British Columbia
residents or corporations. Because of this regulation, our President
is holding the placer claims in trust for us until we can determine
whether there are commercially viable grades of gold-bearing gravels
on the placer claims. If we determine that there are commercially
viable grades of gold-bearing gravels on the placer claims we will
incorporate a British Columbia subsidiary to hold title to the
claims.

The placer
claims are located on Peter's Creek in the Quesnel-Barkerville area
of east-central British Columbia, Canada. Intermittent work has been
carried out on various portions of Peter's Creek since the 1870's
following the Barkerville gold rush of 1860. Considerable data has
been reported over the years from sluicing of surface gravels,
excavation and tunneling from two shafts, other hand workings, and
testing by drilling and bulk sampling. The potential economic
significance of the property is that the presence of gold-bearing
gravels has been reported in and around Peter's Creek and varying
estimates of scale and gold grades have been reported by previous
operators. Until we can validate otherwise, the property is without
known reserves and has yet to be explored by us. There is no
electrical power that can be utilized on the property other than
electrical power that can be provided by gas or diesel generators
that we would bring on site. We have not commenced any work on the
property.

We are an
exploration stage company and there is no assurance that commercially
viable gold-bearing gravels exist on any of our claims. Our objective
is to conduct a two phase exploration program on the placer claims to
assess whether the claims possess commercially viable gold-bearing
gravels. Though other historical operators have previously reported
the presence of gold-bearing gravels we cannot assure investors that
the claims will are commercially viable. Our plan is to complete the
first phase (Phase 1) of our exploration program in order to confirm
historical reports about our claims. If Phase 1 is successful, we
will proceed with a second phase (Phase 2), which will include
further excavation, drilling and engineering studies before we will
know if our placer claims have a commercially viable gold deposit. We
will not be able to calculate an important value known as “cutoff”
until we complete our Phase 2 exploration program. The “cutoff”
cannot be determined until Phase 2 is complete because the scale and
location of any gold deposit has a substantial impact on the mining
method and its efficiency. We have adequate funds to complete Phase 1
but will require additional substantial funds in order to complete
Phase 2.

Access to
the placer claims is restricted to the period between June and
October of each year due to snow in the area. As a result, any
attempts to visit, test, or explore the property are largely limited
to these few months of the year when weather permits such activities.
We will explore our placer claims between June 1, 2005 and October
31, 2005. Our goal is to complete our Phase 1 exploration during this
period.

---

Results of Operations

We have had
no operating revenues since our inception on March 1, 2004 through to
December 31, 2004. Our activities have been financed from the
proceeds of share subscriptions. From our inception, on March 1,
2004, to December 31, 2004, we have raised a total of $59,750 from
private offerings of our securities.

For the
six-month period ended December 31, 2004, we incurred operating costs
of $15,166. These operating costs included $9,150 in professional
fees for legal and accounting costs incurred during our SB-2 filing
phase. In addition, we experienced a foreign currency translation
gain of $4,897. Also, our President provided us with donated services
valued at $3,000 and donated rent valued at $1,500. We also incurred
mineral property costs of $3,545, which included the initial purchase
amount of our placer claims and costs associated with keeping our
placer claims in good standing with the Province of British Columbia.
And finally, we had general and administrative costs of $2,868.

For the
three-month period ended December 31, 2004, we incurred operating
costs of $5,309. These operating costs included $4,000 in
professional fees for legal and accounting costs incurred during our
SB-2 filing phase. In addition, we experienced a foreign currency
translation gain of $2,418. Also, our President provided us with
donated services valued at $1,500 and donated rent valued at $750.
And finally, we had general and administrative costs of $1,477.

From the
period from our inception, on March 1, 2004 through to December 31,
2004, we incurred operating costs of $25,157. These operating costs
included $15,150 in professional fees for legal and accounting costs
incurred during our SB-2 filing phase. In addition, we experienced a
foreign currency translation gain of $5,676. Also, our President
provided us with donated services valued at $5,000 and donated rent
valued at $2,500. We also incurred mineral property costs of $5,245,
which included the initial purchase amount of our placer claims and
costs associated with keeping our placer claims in good standing with
the Province of British Columbia. And finally, we had general and
administrative costs of $2,938.

Liquidity
and Capital Resources

At December 31, 2004 we had cash on hand of $50,304 and had working
capital of $45,793. This compares with cash on hand of $60,549 and
working capital of $56,459 as at June 30, 2004.

We have funded our business to date from sales of our common stock.
Gross proceeds from the sale of our common stock during the period
from inception, on March 1, 2004, through to the year ended June 30,
2004, totaled $59,750. This compares with no such proceeds for the
six-month period ended December 31, 2004. Cash used in operating
activities was $15,316 for the six-month period ended December 31,
2004, which primarily consisted of the net loss during the period of
$15,166.

There are no assurances that we will be able to achieve further sales
of our common stock or any other additional financing. If we are
unable to achieve the financing necessary to continue our plan of
operations, then we will not be able to continue our exploration of
our placer claims and our venture will fail.

Risks and Uncertainties

Readers should refer to risk factors set out in our final
prospectus filed with the SEC on EDGAR on February 7, 2005 pursuant
to Rule 424(b)(4). This final prospectus defines all known risk
factors that could affect and substantially alter our plan of
operation.

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Item 3.  Controls and Procedures.

1. Evaluation of Disclosure of Controls and Procedures.

Our Principal Executive Officer and Principal Financial Officer have,
within 90 days of the filing date of this report, evaluated the
Company’s internal controls and procedures designed to ensure
that information required to be disclosed in reports under the
Securities Exchange Act of 1934 is recorded, processed, summarized
and reported within specified time periods. After such review, our
Principal Executive Officer and Principal Financial Officer have
concluded that said information was accumulated and communicated to
management as appropriate to allow timely decisions regarding
required disclosure.
2. Changes in Internal Controls

There were no significant changes in the Company’s internal
controls or in other factors that could significantly affect these
controls subsequent to the evaluation referred to in paragraph (a)
above.

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PART II - OTHER INFORMATION

Item
1.  Legal Proceedings.

The
Company currently is not a party to any legal proceedings and, to the
Company’s knowledge, no such proceedings are threatened or
contemplated.

Item
2.  Changes in Securities.

None.

Item
3.  Default Upon Senior Securities.

None.

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

None.

Item
5.  Other Information.

None.

Item
6.  Exhibits and Reports on Form 8-K.

1. Exhibits

Exhibit Number
			Description of
				Exhibit31.1
			Certification of
				Principal Executive Officer and Principal Financial Officer
				pursuant to 18 U.S.C.§ 1350, as adopted pursuant to §
				302 of the Sarbanes-Oxley Act of 2002.32.1
			Certification of
				Principal Executive Officer and Principal Financial Officer
				pursuant to 18 U.S.C. § 1350, as adopted pursuant to §
				906 of the Sarbanes-Oxley Act of 2002.
2. Reports on Form
8-K

None.

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SIGNATURES

In
accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned,
thereto duly authorized.

YUKON RESOURCES CORP.(Registrant)

Date: February 18,
2005

By: /s/ Thornton J. Donaldson

Thornton J.
DonaldsonPrincipal Executive OfficerPrincipal Financial
Officer and Director