U.S.
SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549  FORM
10-KSB  ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF1934  FOR THE
FISCAL YEAR ENDED DECEMBER 31, 2007  BIG BEAR
RESOURCES INC. ---------------------------- (Name of
Small Business Issuer in its charter)  Nevada
333-144226
26-0148468State or other jurisdiction of incorporation
Commission File Number
IRS Identification No.  Suite
804  1238 Melville Street Vancouver, BC V6E 4N2 (778)
839-5533 (Address
and telephone number of principal executive offices)  Parsons/Burnett/Bjordahl, LLP 2070
Skyline Tower 10900 NE
4th Street Bellevue, WA 98004 (425)
451-8036 (Name,
address and telephone numbers of agent for service)   Securities registered
under Section 12(b) of the Act:  None  Securities registered
under Section 12(g) of the Act:  None  Check
whether the issuer is not required to file reports pursuant to Section 13 or
15(d) of the Exchange Act.  [  ]  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 [_]  Check if there is no
disclosure of delinquent filers in response to Item 405 of Regulation S-B
contained in this form, and no disclosure will be contained, to the best of
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.  [X]  Indicate
by checkmark whether the registrant is a shell company (as defined in Rule 12b-2
of the Exchange Act).  [X ] Yes  [  ] No  Revenues
for the fiscal year ended December 31, 2007 were: nil  The aggregate market
value of the voting and non-voting common equity held by non-affiliates computed
by reference to the average bid and asked price of such common equity as of
December 31, 2007:   The Companys common stock is not currently
traded  Number of shares of
common stock, $0.001 par value per share, of the registrant outstanding as of
December 31, 2007: 1,910,000  DOCUMENTS
INCORPORATED BY REFERENCE No documents are
incorporated herein by reference.  Transitional Small
Business Issuer Format   Yes [  ]    No [X]     PART
I. ITEM 1.
 DESCRIPTION OF BUSINESS  We are an exploration
stage company engaged in the acquisition, exploration and development of mineral
properties.  We have acquired the Option to a 100% interest in the
mineral claim described below under the heading "Option Agreement".  The
mineral claim is in the Slocan Mining Division of the Province of British
Columbia, Canada and is referred to by us as the Big Bear Claim. Our business
plan is to carry out exploration work on the Big Bear Claim in order to
ascertain whether it possesses commercially developable quantities of gold,
silver, lead or zinc.  We can provide no assurance that a commercially
viable mineral deposit, or reserve, exists in Big Bear Claim until appropriate
exploratory work is done and a comprehensive evaluation based on such work
concludes legal and economic feasibility.  Option
Agreement  We have entered into
an Option Agreement dated January 23, 2007, with Scott C. Houghton.  Under
the option agreement, we are granted the exclusive right and option to acquire a
100% interest in the Big Bear Claim for a total consideration of US$75,000 (all
figures are in United States dollars), plus the payment of exploration and
development expenditures on the claim totaling $32,000.  The failure by the
Company to make any of the expenditures required of us under the Option
Agreement shall cause the termination of the Option Agreement with us.  We
may terminate the Option Agreement at any time upon written notice to Mr.
Houghton.  We were to make a
payment of $5,000 to Scott C. Houghton under the Option Agreement, which was
paid by the issuance of common stock.  In order to exercise the Option, we
must pay an additional $70,000 US as follows:  (1) $10,000
on or before December 1, 2007;  (2) $10,000
on or before December 31, 2007;  (3) $50,000
on or before December 31, 2008.  Both payments
required to be made by December 31, 2007 have been waived by Mr. Houghton and
have therefore been recorded as contributed capital.  In addition, we must
incur expenditures in the exploration of the Big Bear Claim.  The Company
and Mr. Houghton have signed an Addendum to the Option Agreement amending the
dates on which those expenditures are to be made.  Under the terms of the
Addendum, we are required to make expenditures in the following amounts by the
following dates in order to exercise the option:  (1) $2,000
by December 31, 2008;  (2) $10,000
by June 30, 2009;  (3) $20,000
by December 31, 2009.  If we incur any
exploration expenditures in excess of the requirement in any period the excess
may be carried forward and applied to expenditures required in succeeding
periods.  Location and
Access of the Big Bear Claim  The mineral claim
comprising the Big Bear Claim consists of a mineral claim covering approximately
556 acres located in the Slocan Mining Division in the Province of British
Columbia, Canada. The claim is comprised of the mineral claim numbers 554054,
554035 and 554056.  The property is
located in the Slocan Mining Division of Southwest British Columbia on the
slopes of Mount Carlyle approximately seven (7) miles west of the town of Kaslo,
British Columbia and is accessible by vehicle from Kaslo via the Kaslo-New
Denver paved highway about 4 miles west of Kaslo, thence by the Keen Creek road,
westerly for about 4.5 miles, then by 4-wheel drive road up the valley of
Nelson-Creaston to the old workings of the Martin and Flint veins, Mountain Con
and Comstock-Viginia past producers.  Prior Exploration
of the Flint and Martin Mineral Claims, Adjacent (2km West) of Big Bear
Claims  Mineralization has
been known in the Mount Carlyle area since the late 1890's.  The Flint vein
was staked in 1898 and the Martin prospect was located in 1902.  The Big
Bear Claim is located near the Flint and Martin areas.  Several individuals
operated the Flint Mine discontinuously between 1905 and 1953.  It has been
reported that a total of 339 tons of ore were produced from this mine.
 This consisted of 11,450 ounces of Silver, 149,279 pounds of Lead and
11,672 pounds of Zinc.  The Martin Mines
situated in the southeast corner of the Flint mineral claims, operated between
1915 and 1924, produced 59 tons containing 3268 ounces of Silver, 62,582 pounds
of Lead and 4368 pounds of Zinc.  Moderate amounts of
work including road building and some mining were carried out in recent years.
 However, it appears that little or no development has been done and no
shipments have been made from the property.  From April to
September 1979, Keen Creek Developments Ltd. mined about 1,600 tons of ore from
the Last Chance claim located some 2,000 feet south east of the Flint claim.  A diamond drill hole
in 1987 is reported to have intersected argillites, limestone and granodiorite
porphyry and a 4 to 5 foot section containing sulphides. Apparently, no assays
were taken.  We know of no other
work that was carried out on the site.  Geological Report
and Recommended Work Program  We have obtained a
geological property evaluation report on the Flint mineral claim, which is
adjacent to the Big Bear claims.  The property report was prepared by Mr.
William G. Timmins, P.Eng, and is dated June 2000.  The geological report
summarizes the geology and the prior exploration of the mineral claims, gives
conclusions as to the results of the prior exploration and makes a
recommendation to conduct further geological exploration on the Flint mineral
claim.  Generally, we hold a
claim consisting of 8 units, located at Carlyle Creek in the Slocan Mining
Division of Southern British Columbia, Canada. The property hosts mineralized
vein structures with significant silver, lead and zinc values from numerous old
workings.  The geological report
recommends a three-phased exploration program, each phase subject to results of
the preceding phase.  The program consists of reconnaissance of the
property to determine location and condition of underground workings, check
geological samples, compile data, perform surface and underground mapping, and
do sampling and prospecting followed by diamond drilling.  The following
outlines the phases and estimated costs of this recommended work program:  PHASE I - -------  Reconnaissance
including location and condition of workings and check sampling $
 2,000  PHASE II - --------  1. Data
compilation and preparation of composite map $
 2,000 2. Surface
geological mapping, prospecting, sampling 2,000 3. Underground
geological mapping and sampling 1,000 4. Transportation,
truck, rental, gas, supplies 3,000 5. Accommodation,
meals, etc. 1,000 6. Engineering,
supervision, reports 3,000  ---------- $12,000  Contingency 3,000  ----------  TOTAL
PHASE II $
15,000  ======  PHASE III - ---------  Phase III work is
dependent upon results of Phase II, but would likely consist of diamond
drilling.  Preliminary
Allowance, 3,000 feet at  $25/ft $
75,000 -----------  TOTAL
PHASE III $
75,000 ======  TOTAL
(EST.) COST ALL PHASES $
92,000 ======  The report also
advises that additional work could be designed following the above phases.  Administration  We have entered into
a management agreement dated January 26, 2007, with Scott Houghton, a Company
director and its President. Under the management agreement, Mr. Houghton is to
provide office administration services to us for a fee of $3,000 US per month
for a one year term commencing February 1, 2007, and ending on March 1,
2008.  Compliance with
Government Regulation  We will be required
to comply with all regulations, rules and directives of governmental authorities
and agencies applicable to the exploration of minerals in Canada generally, and
in the Province of British Columbia, specifically. In addition, production of
minerals in the Province of British Columbia will require prior approval of
applicable governmental regulatory agencies. We can provide no assurance to
investors that such approvals will be obtained.  The cost and delay
involved in attempting to obtain such approvals cannot be known at this
time.  We have budgeted for
regulatory compliance costs in the proposed work program recommended by the
geological report.  We will have to sustain the cost of reclamation and
environmental mediation for all exploration (and development) work undertaken.
 The amount of these costs is not known at this time, as we do not know the
extent of the exploration program that will be undertaken beyond completion of
the recommended work program. Because there is presently no information on the
size, tenor, or quality of any resource or reserve at this time, it is
impossible to assess the impact of any capital expenditures on earnings, our
competitive position or us in the event a potentially economic deposit is
discovered.  If we enter into
production, the cost of complying with permit and regulatory environmental laws
will be greater than in phase one because the impact on the project area is
greater.  Permits and regulations will control all aspects of any
production program if the project continues to that stage because of the
potential impact on the environment.  Employees  We have no employees,
other than our officers, as of the date of this report.  Our officers are Mr.
Scott Houghton who is our President, Mr. Benny Mumford who is our Vice-President
and Mrs. Korina Houghton who is our Secretary and Treasurer.  Mr. Houghton,
Mr. Mumford and Mrs. Houghton are also our directors.  Mr. Houghton
provides his services on a part-time basis as required for our business pursuant
to a Management Services Agreement.  Mr. Houghton presently commits
approximately 15% of his business time to our business.  We presently pay
Mr. Houghton a management fee for his management services in the amount of
$3,000 per month pursuant to the management agreement.  We do not pay any
compensation to our other officers and directors solely for serving as directors
on our board of directors.  We conduct our
business largely through agreements with consultants and arms-length third
parties.  Research and
Development Expenditures  We have not incurred
any research or development expenditures since our incorporation.  Subsidiaries  We do not have any
subsidiaries.  Patents and
Trademarks  We do not own, either
legally or beneficially, any patent or trademark.  ITEM 2. PROPERTIES  We have an option to
acquire a 100% interest in the Big Bear 1, @ and 3 claims, as described in the
section above entitled Description of Business.  We do not own or lease any
property other than our option to acquire an interest in the Big Bear mineral
claim.  Due to a typographical error while registering the second claim
with the British Columbia Mining Authority, the official name of the claim was
registered as Big Bear @, rather than Big Bear 2.  Due to the extensive
expense, time and effort involved in changing the name, the Company has decided
to leave the name as is.  ITEM
3. LEGAL
PROCEEDINGS  The Company is not
involved in any legal proceedings.  ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS  There were no matters
submitted to a vote of security holders.    PART II.  ITEM
5. MARKET
FOR COMMON EQUITY AND RELATED SHAREHOLDERS MATTERS AND SMALL BUSINESS ISSUER
PURCHASE OF EQUITY SECURITIES  While the Companys
common stock was approved for trading on the Over-The-Counter Bulletin Board
under the symbol BGBE, there has been no trading activity on its stock.  At the present time,
there are no assets available for the payment of dividends.  The Company
does not anticipate paying any dividends in the next twelve months.  Under our Articles of
Incorporation, the total number of shares of all classes of stock that we are
authorized to issue is 100,000,000 shares of common stock, par value $0.001 per
share.   As of December 31, 2007, a total of 1,910,000 shares of
common stock were issued and outstanding.  All issued and outstanding
shares of our common stock are fully paid and non-assessable.  Common
Stock  Holders of common
stock have the right to cast one vote for each share held of record on all
matters submitted to a vote of the stockholders, including the election of
directors. Holders of common stock do not have cumulative voting rights in the
election of directors. Holders of a majority of the voting power of the capital
stock issued and outstanding and entitled to vote, represented in person or by
proxy, are necessary to constitute a quorum at any meeting of our stockholders,
and a vote by the holders of a majority of such outstanding shares is required
to effect certain fundamental corporate changes such as liquidation, merger or
amendment of our Articles of Incorporation.  Holders of common
stock are entitled to receive dividends pro rata based on the number of shares
held, when, as and if declared by the board of directors, from funds legally
available therefore. In the event of our liquidation, dissolution or winding up,
all assets and funds remaining after the payment of all debts and other
liabilities shall be distributed, pro rata, among the holders of the common
stock. There are no redemption or sinking fund provisions applicable to the
common stock.  All outstanding shares of common stock are fully paid and
non-assessable.  Dividend
Policy  We have never
declared or paid any cash dividends on our common stock.  We currently
intend to retain future earnings, if any, to finance the expansion of our
business. As a result, we do not anticipate paying any cash dividends in the
foreseeable future.  Share Purchase
Warrants  We have not issued
and do not have outstanding any warrants to purchase shares of our common
stock.   Options  We have not issued
and do not have outstanding any options to purchase shares of our common
stock.  Convertible
Securities  We have not issued
and do not have outstanding any securities convertible into shares of our common
stock or any rights convertible or exchangeable into shares of our common
stock.  Holders of Our
Common Stock  As of the date of
this report, we have 33 registered shareholders.  Registration
Rights  We have not granted
registration rights to the selling shareholders or to any other persons.  ITEM
6. MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.  We are in the
business of mineral exploration.  We have acquired an option to acquire a
100% interest in a mineral claim located in the Slocan Mining Division in the
Province of British Columbia, Canada.  Big Bear Resources
Inc. is a Nevada corporation incorporated on January 23, 2007.  Our
principal offices are located at 804  1238 Melville Street, Vancouver, BC V6E
4N2.  Our business plan is
to proceed with the exploration of the Big Bear mineral claim to determine if it
contains commercially exploitable reserves of silver, gold, lead or zinc.
 After we proceed with Phase I of the exploration program, we will assess
whether to proceed to Phase II of the recommended geological work program upon
completion of an assessment of the results of phase one of the geological work
program.  We anticipate that
Phase I of the recommended geological work program will cost approximately
$2,000.  We had approximately $1,579 in cash reserves as of December 31,
2007.  Prior to the commencement of Phase II, the Company anticipates the
need for additional financing, either through loans or the sale of securities.
 Scott Houghton, the Companys CEO, has verbally agreed to defer his fees
until the completion of Phase II, reducing the total working capital required
during Phase I and Phase II.  In consideration of these facts, we
anticipate having sufficient funds to complete Phase I of the geological work
program.  This expenditure will also enable us to meet the exploration
expenditure requirement under the option agreement, as amended, for the period
through December 31, 2008.  We believe that our
cash reserves are also sufficient to meet our obligations for the next twelve
month period to Mr. Houghton under his management agreement and to pay for the
legal and accounting expense of complying with our obligations, under the
Securities Exchange Act of 1934, as a reporting issuer.  These expenses
will be in addition to the cost of completing Phase I of the exploration
program.  We will require
additional funding in the event that we decide to proceed with Phase II of the
exploration program.  The anticipated cost of the Phase II exploration
program is $15,000, which is in excess of our projected cash reserves remaining
upon completion of Phase I of the exploration program.  We anticipate that
additional funding will be in the form of debt equity financing from the sale of
our common stock.  We will require
additional funding in the event that we decide to proceed with Phase III of the
exploration program.  The anticipated cost of the Phase III exploration
program is $75,000, which is in excess of our projected cash reserves remaining
upon completion of Phase I of the exploration program.  We anticipate that
additional funding will be in the form of debt or equity financing from the sale
of our common stock.  If we do not make the
required exploration expenditures of $10,000 by June 30, 2009, or $32,000 in
aggregate by December 31, 2009, make the Option payments of $75,000 in aggregate
by December 31, 2008, our Option will terminate and we will lose all our rights
and interest in the Big Bear Claim. Please note, the Optionor has granted the
Company an additional 12 months to make the required expenditures.
 However, if we do not secure additional financing to incur the required
exploration expenditures, we may consider bringing in a joint venture partner to
provide the required funding.  We have not undertaken any efforts to locate
a joint venture partner.  We may also pursue acquiring interests in
alternate mineral properties in the future.  ITEM 7.
 FINANCIAL STATEMENTS  Included herewith are
the following financial statements:             Big
Bear Resources Inc.  (An Exploration Stage Company)  Financial Statements  For the period from January 23, 2007 (Inception) to December 31, 2007   Big Bear Resources Inc.  (An Exploration Stage Company)  Index to Financial Statements  For the period from January 23, 2007
(Inception) to December 31, 2007    Page(s)  Report of Independent
Registered Public Accounting Firm 2  Balance Sheet as of December
31, 2007 3  Statement of Operations and Comprehensive Loss for the period from January 23, 2007
(Inception) to December 31,
2007 4  Statement of Stockholders Deficit for the period from January
23, 2007 (Inception), to December 31, 2007 5  Statement of Cash Flows for the period from January 23,
2007, (Inception)
to December 31, 2007 6  Notes to the Financial Statements
                                                                                                              7-12


[bigbear10ksbdec312007fina001.jpg]     REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To The Board of Directors and Stockholders of
Big Bear Resources
Inc.
Vancouver, British
Columbia
Canada
We
have audited the accompanying balance sheet of Big Bear Resources Inc. (an
exploration stage company) (the Company) as of December 31, 2007, and the
related statements of operations, stockholders deficit, and cash flows for the
period  from January 23, 2007 (inception) to December 31, 2007.  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 of America).  Those standards require that we plan and perform the
audit to obtain reasonable assurance about 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, 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 Big Bear Resources Inc. (an
exploration stage company) as of December 31, 2007, and the results of its
operations, stockholders deficit and its cash flows for the period from January
23, 2007 (inception) to December 31, 2007, in conformity with accounting
principles generally accepted in the United States of America.
The
accompanying financial statements referred to above have been prepared assuming
that the Company will continue as a going concern.  As discussed in Note 7
to the financial statements, the Company has incurred losses from operations,
has a liquidity problem, and requires funds for its operational activities.
These factors raise substantial doubt that the Company will be able to continue
as a going concern. The financial statements do not include any adjustments that
might result from the outcome of this uncertainty.

/s/ Child, Van Wagoner &
Bradshaw, PLLC
Certified Public Accountants
Salt Lake City,
Utah
March 13, 2008


Big Bear
Resources Inc. (An Exploration Stage Company) Balance Sheet  December
31, 2007 ASSETS  Current assets: Cash and
cash equivalents $ 1,579 Prepaid
expenses 1,224 Total current assets 2,803  Property, plant and equipment: Office
equipment 1,243 Less:
Accumulated depreciation (414) Net property, plant and
equipment 829  Total assets $ 3,632   LIABILITIES AND STOCKHOLDERS DEFICIT  Current liabilities: Accounts
payable $ 1,304 Accounts
payable  related party 30,000 Total current liabilities 31,304  Total liabilities 31,304  Stockholders Deficit Common stock, par value $.001,
100,000,000 shares authorized,
1,910,000 shares issued and outstanding 1,910 Additional
paid in capital 61,354 Deficit
accumulated during the exploration stage (91,391) Accumulated
other comprehensive income 455 Total stockholders deficit (27,672)  Total liabilities and
stockholders deficit $ 3,632   See accompanying notes to the financial statements.   Big Bear
Resources Inc. (An Exploration Stage Company) Statement of Operations and Comprehensive
Loss   For the period  from January 23, 2007 (Inception) to December 31, 2007  Revenues: $ -  Operating expenses: Exploration
costs 25,000 Selling,
general and administrative 65,977 Depreciation
expense 414 Operating loss before income
taxes (91,391)  Income tax expense
(benefit) -  Net loss available to common
stockholders $ (91,391)  Other comprehensive income: Foreign
currency translation adjustment 455  Comprehensive loss for the
period $ (90,936)  Basic and diluted loss per
common share $
                   (.05)  Weighted average shares
outstanding 1,910,000   See accompanying notes to the financial statements.


Big Bear
Resources Inc. (An Exploration Stage Company) Statement of Stockholders
Deficit For the period from January 23, 2007
(Inception) to December 31, 2007   Deficit Accumulated   Additional Accumulated Other  Total  Common
Shares Paid-In During
the Comprehensive Stockholders Shares Amount Capital Exploration
Stage Income Deficit Balance, January 23, 2007 - $ - $ - $ - $ - $ -  Common shares issued for cash, assets and expenses at $.008 per
share 1,910,000 1,910 14,170 - - 16,080  Capital contribution of Expenses - - 47,184 - - 47,184  Loss during the period from Inception to December 31, 2007 - - - (91,391) - (91,391)  Foreign currency translation Adjustment - - - - 455 455  Balance, December 31, 2007 1,910,000 $ 1,910 $ 61,354 $ (91,391) $ 455 $ (27,672)   See accompanying notes to the financial statements.


Big Bear
Resources Inc. (An Exploration Stage Company) Statement of Cash Flows   For the
period from January
23, 2007 (Inception) to December 31, 2007  Cash flows from operating activities: Net loss $ (91,391) Adjustments to reconcile net loss
to net cash used in operating
activities: Prepaid
expenses (1,224) Non-cash
expenses 52,184 Depreciation
expense 414 Accounts
payable 1,304 Accounts
payable  related party 30,000 Net cash used in operating
activities (8,713)  Cash flows from investing activities: Property,
plant and equipment (1,243) Net cash used in investing
activities (1,243)  Cash flows from financing activities: Issuance of
common stock for cash 11,080 Net cash provided by financing
activities 11,080  Net increase in cash and cash
equivalents 1,124 Effect of exchange rate changes
on cash 455  Cash at beginning of period - Cash at end of period $ 1,579  Cash paid for interest $ - Cash paid for income taxes $ -  See accompanying notes to the financial statements.


Big Bear Resources Inc. (An Exploration Stage Company) Notes to the Financial Statements December 31, 2007  1.  ORGANIZATION  Big Bear Resources Inc. (the
Company) was incorporated on January 23, 2007 in the State of Nevada, U.S.A.
 Its operations are primarily based in Vancouver, British Columbia, Canada.
 The accounting and reporting policies of the Company conform to accounting
principles generally accepted in the United States of America, and the Companys
fiscal year end is December 31.  The Company is an exploration stage
company that engages primarily in the acquisition, exploration and development
of resource properties.  The Company has acquired a 100 percent interest in
mineral claims located in the Slocan Mining Division in the Province of British
Columbia, Canada (see Note 3).  The Company is currently conducting mineral
exploration activities on the mineral claims in order to assess whether they
possess commercially exploitable reserves of silver, gold, lead or zinc.
 To date, the Companys activities have been limited to its formation,
exploration, minimal operations and the raising of equity capital.  EXPLORATION STAGE COMPANY  The Company is considered to be in
the exploration stage as defined in Statement of Financial Accounting Standards
(SFAS) No. 7, Accounting and Reporting by Development Stage
Enterprises, and interpreted by the Securities and Exchange Commission for
mining companies in Industry Guide 7.  The Company is devoting
substantially all of its efforts to the development of an exploration program on
its existing mineral claim and the ultimate acquisition of possible mineral
properties.  2.  SIGNIFICANT ACCOUNTING POLICIES  USE OF ESTIMATES  The preparation of the Companys
financial statements in conformity with accounting principles generally accepted
in the United States 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 amount of revenues and expenses during the reporting period.
 Actual results could differ from those estimates.  The Companys
periodic filings with the Securities and Exchange Commission include, where
applicable, disclosures of estimates, assumptions, uncertainties and markets
that could affect the financial statements and future operations of the
Company.  CASH AND CASH EQUIVALENTS  Cash and cash
equivalents include cash in banks, money market funds, and certificates of term
deposits with maturities of less than three months from inception, which are
readily convertible to known amounts of cash and which, in the opinion of
management, are subject to an insignificant risk of loss in value.  The
Company had $1,579 in cash and cash equivalents at December 31, 2007.  MINERAL ACQUISITION
AND EXPLORATION COSTS  The Company has been in the exploration stage since its formation
on January 23, 2007 and has not yet realized any revenue from its planned
operations. It is primarily engaged in the acquisition, exploration and
development 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        Big Bear Resources Inc. (An Exploration Stage Company) Notes to the Financial Statements December 31, 2007  2.  SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)  MINERAL ACQUISITION
AND EXPLORATION COSTS (CONTINUED)  capitalized.  Such costs will be amortized using the
units-of-production method over the estimated life of the probable reserves.  NET
INCOME OR (LOSS) PER SHARE OF COMMON STOCK  The Company has adopted
Financial Accounting Standards Board (FASB) Statement Number 128, Earnings
per Share, (EPS) which requires presentation of basic and diluted EPS on the
face of the income statement for all entities with complex capital structures
and requires a reconciliation of the numerator and denominator of the basic EPS
computation to the numerator and denominator of the diluted EPS computation.
 In the accompanying financial statements, basic earnings (loss) per share
is computed by dividing net income/(loss) by the weighted average number of
shares of common stock outstanding during the period.  The following table
sets forth the computation of basic and diluted earnings per share for the
period ended December 31, 2007:  December 31, 2007  Net Loss $ (91,391)  Weighted average common
shares outstanding (Basic) 1,910,000 Options - Warrants -  Weighted average common
shares outstanding (Diluted) 1,910,000 Net loss per share (Basic and Diluted) $
                (0.05)  The Company has no
potentially dilutive securities, such as options or warrants, currently issued
and outstanding.  FOREIGN CURRENCY
TRANSLATIONS  The Companys
functional and reporting currency is the US dollar.  All transactions
initiated in other currencies are translated into US dollars using the exchange
rate prevailing on the date of transaction.  Monetary assets and
liabilities denominated in foreign currencies are translated into the US dollar
at the rate of exchange in effect at the balance sheet date.  Unrealized
exchange gains and losses arising from such transactions are deferred until
realization and are included in stockholders equity (deficit) as a component of
other comprehensive income or loss. Upon realization, the amount deferred is
recognized in income in the period when it is realized.  The Company recorded an
unrealized foreign currency translation gain, totaling $455 for the period from
January 23, 2007 to December 31, 2007, in Accumulated Other Comprehensive
Income.        Big Bear Resources Inc. (An Exploration Stage Company) Notes to the Financial Statements December 31, 2007  2.  SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)  CONCENTRATIONS OF
CREDIT RISK  The Companys financial instruments that are exposed to
concentrations of credit risk primarily consist of its cash and cash equivalents
and related party payables it will likely incur in the near future.  The
Company places its cash and cash equivalents with financial institutions of high
credit worthiness.  At times, its cash and cash equivalents with a
particular financial institution may exceed any applicable government insurance
limits.  The Companys management plans to assess the financial strength
and credit worthiness of any parties to which it extends funds, and as such, it
believes that any associated credit risk exposures are limited.  RECENT ACCOUNTING PRONOUNCEMENTS   In
September, 2006, the FASB issued SFAS No. 157, Fair Value Measurements.
 The statement defines fair value, determines appropriate measurement
methods, and expands disclosure requirements about those measurements.  The
adoption of SFAS No. 157 has not materially affected the Companys reported
loss, financial condition, or cash flows.  In February
2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial
Assets and Financial Liabilities, including an amendment of FASB Statement
No. 115. This pronouncement permits entities to choose to measure many financial
instruments and certain other items at fair value that are not currently
required to be measured at fair value.  The adoption of SFAS 159 has not
materially affected the Companys reported loss, financial condition, or cash
flows.   3.  MINERAL CLAIM OPTION AGREEMENT  In January,
2007, the Company entered into an option to purchase certain mineral claims (the
Option) located in the Slocan Mining Division of British Columbia from the
Companys President.  The Option provides for the Company to acquire a 100
percent undivided interest in and to the aforementioned mineral claims, free and
clear of all charges, encumbrances and claims in exchange for $5,000, which
amount was paid by issuing 500,000 shares of common stock.  In addition,
the Company is required to make payments pursuant to the Option as follows:  Payment
No.
Amount
Date1
$
               10,000
12/01/20072
$
               10,000
12/31/20073
$
               50,000
12/31/2008                 Big Bear Resources Inc. (An Exploration Stage Company) Notes to the Financial Statements December 31, 2007  3.
 MINERAL CLAIM OPTION AGREEMENT (CONTINUED)  The Company is
required to incur exploration expenditures of up to $32,000 related to the
mineral claims acquired prior to the end of given periods as per the following
schedule:   Payment
No.
Amount
Date1
$
           2,000
12/31/20072
$
         10,000
06/30/20083
$
         20,000
12/31/2008  If the Company
incurs less in exploration expenditures during a given period than the amounts
as per the schedule above, it will be required to pay the difference prior to
the expiration of that period.  If the Company incurs more in exploration
expenditures than the amounts as per the schedule above, the excess amount will
be carried forward and applied to the exploration expenditures to be incurred in
the succeeding periods.  The Option is
terminable by the Company at its sole discretion upon giving proper notice to
its President of intent to terminate.  As of December
31, 2007, the amounts payable by the Company to its President, totaling $20,000
per the Option, were waived by the President.  Accordingly, the $20,000 has
been recorded as contributed capital by the President to the Company.
 Also, this same amount has been recorded in exploration costs for the
period ended December 31, 2007.  4.
 STOCKHOLDERS EQUITY  AUTHORIZED STOCK  The Company has authorized 100,000,000 common shares with a par
value of $0.001 per share.  Each common share entitles the holder to one
vote, in person or proxy, on any matter on which action of the stockholders of
the Company is sought.   SHARE ISSUANCES  As
of December 31, 2007, the Company had issued 1,910,000 common shares at $.001
per share, or $1,910.  Excess proceeds realized in exchange for the common
shares issued totaled $7,260.  Of the issued and outstanding shares at
December 31, 2007, 1,000,000 shares have been issued to the Companys President.
 In exchange for the shares received, the President purchased assets, or
paid expenses for and on behalf of the Company, totaling $52,184.  There are no preferred shares authorized, issued or outstanding.
 The Company has no stock option plan, warrants or other dilutive
securities.  5.  PROVISION FOR INCOME TAXES  The Company recognizes the tax effects of transactions in the year
in which such transactions enter into the determination of net income,
regardless of when reported for tax purposes. Deferred taxes are provided in the
financial statements under SFAS No. 109 to give effect to the resulting
temporary       Big Bear Resources Inc. (An Exploration Stage Company) Notes to the Financial Statements December 31, 2007  5.  PROVISION FOR INCOME
TAXES (CONTINUED)  differences which may arise from differences in the bases of fixed
assets, depreciation methods, allowances, and start-up costs based on the income
taxes expected to be payable in future years. Minimal exploration stage deferred
tax assets arising as a result of net operating loss carryforwards have been
offset completely by a valuation allowance due to the uncertainty of their
utilization in future periods. Operating loss carryforwards generated during the
period from January 23, 2007 (date of inception) through December 31, 2007 of
approximately $61,391 will begin to expire in 2027. Accordingly, deferred tax
assets of $21,487 were offset by the valuation allowance in the same amount.  6. RELATED PARTY
TRANSACTIONS  The Company has entered into an agreement with its President to
pay a monthly salary, totaling $3,000.  To date, this monthly amount has
been deferred by the Companys President, but will ultimately be paid in
accordance with the underlying terms of the agreement.  Accordingly,
$30,000 has been recorded as related party accounts payable at December 31,
2007.  7.  GOING
CONCERN AND LIQUIDITY CONSIDERATIONS  The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern, which contemplates, among
other things, the realization of assets and satisfaction of liabilities in the
normal course of business.  As of December 31, 2007, the Company has a
negative working capital balance of $28,501 and an accumulated deficit of
$91,391.  The Company intends to fund operations through equity financing
arrangements, which may be insufficient to fund its capital expenditures,
working capital and other cash requirements for the next twelve months.  In
addition to deferred tax assets arising from NOLs, the Company has deferred to
tax assets of $10,500 arising from deferred compensation totaling $30,000 to its
president, resulting in an additional increase to the valuation allowance of
$10,500.  The ability of the Company to emerge from the exploration stage is
dependent upon, among other things, obtaining additional financing to continue
operations, explore and develop the mineral properties and the discovery,
development and sale of mineral reserves.  In
response to these problems, management intends to raise additional funds through
public or private placement offerings.  These factors, among others, raise substantial doubt about the
Companys ability to continue as a going concern.  The accompanying
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.                 ITEM
8. CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND
FINANCIAL DISCLOSURE  There have been no
disagreements of any kind with the companys independent auditors.  ITEM 8A.
 CONTROLS AND PROCEDURES  As of the end of the
period covered by this report, Big Bear carried out an evaluation of the
effectiveness of the Companys disclosure controls and procedures (as defined by
Rule 13-15(e) under the Securities Exchange Act of 1934) under the supervision
and with the participation of Big Bears Chief Executive Officer and Chief
Financial Officer.  Based on and as of the date of such evaluation, the
aforementioned officers have concluded that Big Bears disclosure controls and
procedures were effective.  Big Bear also
maintains a system of internal accounting controls that is designed to provide
assurance that assets are safeguarded and that transactions are executed in
accordance with managements authorization and properly recorded. This system is
continually reviewed and is augmented by written policies and procedures, the
careful selection and training of qualified personnel and an internal audit
program to monitor its effectiveness.  There were no
significant changes in Big Bears internal controls or in other factors that
could significantly affect these controls from January 23, 2007 (inception) to
December 31, 2007. There were no significant deficiencies or material
weaknesses, and therefore there were no corrective actions taken.  It
should be noted that any system of controls, however well designed and operated,
can provide only reasonable, and not absolute, assurance that the objectives of
the system are met. In addition, the design of any control system is based in
part upon certain assumptions about the likelihood of future events. Because of
these and other inherent limitations of control systems, there can be no
assurance that any design will succeed in achieving its stated goals under all
potential future conditions, regardless of how remote.  This annual report
does not include a report of management's assessment regarding internal control
over financial reporting or an attestation report of the company's registered
public accounting firm due to a transition period established by rules of the
Securities and Exchange Commission for newly public companies.  ITEM 8B.  OTHER
INFORMATION  During the fourth
quarter of the fiscal year ended December 31, 2007, there was no information
required to be reported on Form 8K which was not previously reported.        PART
III  ITEM
9. DIRECTORS,
EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE;
COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.  Our executive officer
and directors and their respective ages as of December 31, 2007 are as
follows:  Directors:   Name
of Director Age ----------------------- ----- Scott
Houghton 38  Benny
Mumford 27  Korina
Houghton 38   Executive
Officers:  Name
of Officer Age Office --------------------- ---- ------- Scott
Houghton 38 President  Benny
Mumford 27 Vice-President  Korina
Houghton 38 Secretary
and Treasurer  Set forth below is a
brief description of the background and business experience of Mr. Houghton, Mr.
Mumford and Mrs. Houghton for the past five years.  Mr. Scott Houghton
has served as our President and one of our directors since January, 2007.
  Mr. Houghton holds a Mechanical Engineering degree from the
University of New Brunswick.  In the last four years, Mr. Houghton has been
working as an investor relations consultant for several companies.
 Previous to this, Mr. Houghton worked in the engineering and manufacturing
divisions of Spar Aerospace Ltd.  Mr. Houghton was the Co-Founder, and has
served as the Treasurer and a Director since March 1999 of The Foundations of
Hope for Childrens Hospitals.  This is a Canadian federally registered
charity which raises funds and donates medical equipment and services to
childrens hospitals across Canada.  From April, 2004 to August, 2004, Mr.
Houghton served as the President and a Director of Pan American Energy Corp., a
junior oil and gas exploration firm based in Texas.  From January 23, to
April, 2004, Mr. Houghton served as the President and a Director of August
Biomedical Corp, a biomedical cervical and oral cancer research firm.  Mr.
Houghton provides his services to us on a part-time basis.  Mr. Houghton
presently devotes approximately 15% of his time to our business.  Mr. Benny Mumford is
our Vice-President and is one of our directors.  Mr. Mumford was appointed
as a director and vice-president on January 27, 2007.  Mr. Mumford has been
employed as the Vice President of Marketing and Sales at BM Marketing since
September 2004. BM Marketing provides marketing and advertising services to
publishers of various outdoor water sports and sailing magazines. He has also
worked as a Senior Manager for Tuluus Boat Works, Inc., a Vancouver based power
and sail boat retro-fit and design company from May 1, 2001 to August, 2004, and
has worked for them as a consultant since August 2004.  Mr. Mumford
provides his services to us on a part-time basis.  Mr. Mumford presently
devotes approximately 5% of his time to our business.  Korina Houghton is
our Secretary and Treasurer and one of our directors.  Mrs. Houghton was
appointed as a director and officer on January 28, 2007.  Mrs. Houghton
holds a Bachelor of Forestry (Wild Life) from the University of New Brunswick.
 From April, 2004 to August, 2004, Mrs. Houghton served as the Secretary
and Treasurer of Pan American Energy Corp., a junior oil and gas exploration
firm based in Texas.  From January, 2003 to April 2004, Mrs. Houghton
served as the Secretary and Treasurer of August Biomedical Corp, a biomedical
cervical and oral cancer research firm.  Since June, 2006, Mrs. Houghton
has served as the Office Manager of Timberline National Resources Group, Inc., a
forestry consulting company based in Vancouver, British Columbia, Canada.
 From January, 2000 to June, 2006, she served as the Office Manager of JS
Thrower & Associates, a forestry consulting firm based in Vancouver and
Kelowna, British Columbia.  Mrs. Houghton provides her services to us on a
part-time basis.  Mrs. Houghton presently devotes approximately 5% of her
time to our business.  Term of Office  Our directors are
elected for one-year terms, to hold office until the next annual general meeting
of the shareholders, or until removed from office in accordance with our bylaws.
 Our officers are appointed by our board of directors and hold office until
removed by the board.  Legal Proceedings  None of the officers,
directors, control persons or promoters of the Company have been involved in any
legal proceedings involving any bankruptcy, criminal proceeding, court orders
barring involvement in business activities, and none of them have been found to
have violated any federal or state securities or commodities law.  Significant
Employees  We have no
significant employees other than the officers and directors described above.  Compliance with
Section 16(a) of the Exchange Act.  The Company is not
aware of a director or officer who is delinquent in their reporting under
Section 16(a) of the Exchange Act.  Code of Ethics  Big Bear has not
adopted a code of ethics at this time.  ITEM 10.
 EXECUTIVE COMPENSATION. (a)
No officer or director of the Company is receiving any remuneration at this time
although the Company has entered into a management contract with Scott Houghton
which entitles him to receive $3,000 per month in exchange for certain
management services to be provided to the Company. (b) There are no
annuity, pension or retirement benefits proposed to be paid to officers,
directors, or employees of the corporation in the event of retirement at normal
retirement date pursuant to any presently existing plan provided or contributed
to by the corporation or any of its subsidiaries.  (c) No remuneration
is proposed to be paid in the future directly or indirectly by the corporation
to any officer or director under any plan which presently exists, except for the
management agreement by and between the Company and Scott Houghton. There are no
plans to increase the number of employees significantly over the next twelve
months. Director
Compensation Members
of the Companys Board of Directors do not receive compensation, as such, at
this time, but are paid consulting fees for specific services as incurred. Stock Option
Grants  As of the date of
this report the Company has not granted any stock options  Employment
Agreements  We have a management
services agreement with Mr. Scott Houghton, a Company director and its
President.  Mr. Houghton provides his services to us on a part-time basis.
 We pay him a fee of $3,000 per month for these services.  We do not have an
employment or consultant agreement with Mr. Benny Mumford or Mrs. Korina
Houghton, our other officers and directors.  We did not pay any salary or
consulting fees to Mr. Benny Mumford or Mrs. Korina Houghton.  ITEM 11.
 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
STOCKHOLDER MATTERS  The following table
sets forth, as of December 31,2007, the beneficial ownership of our common stock
by each of our officers and directors, by each person known by us to
beneficially own more than 5% of our common stock and by our officers and
directors as a group.  Except as otherwise indicated, all shares are owned
directly and the percentage shown is based on 1,910,000 shares of common stock
issued and outstanding on December 31, 2007.  Name and
Address of Beneficial Owner
Number of
Shares of Common Stock
Percentage
Ownership of Common StockScott
Houghton
1525 Yew Street
Vancouver,
B.C.
Canada, V6J
3E5
Director,
President
1,000,000
52.3%Benny
Mumford
3475 Windermere
Street
Vancouver,
B.C.
Canada V5M
3R9
Director, Vice
President
100,000
5.2%Korina
Houghton
804  1238
Melville Street
Vancouver,
BC
Canada, V6E
4N2
Director,
Secretary, Treasurer
500,000
26.2%Directors and
Officers as a Group (3)
1,600,000
83.8%   ITEM 12.
 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE.  Other than as set
forth in this section, none of the following parties has, since our date of
incorporation, any material interest, direct or indirect, in any transaction
with us or in any presently proposed transaction that has or will materially
affect us:  *
    Any of our directors or officers; *
    Any person proposed as a nominee for election as a
director; *
    Any person who beneficially owns, directly or
indirectly, shares carrying more than 10% of the voting rights attached to our
outstanding shares of common stock; *
    Any of our promoters; *
    Any relative or spouse of any of the foregoing persons
who has the same house as such person.  We have entered into
a management agreement with Mr. Scott Houghton, our President and a director,
whereby Mr. Houghton provides management services to us in consideration for the
payment of a management fee of $3,000 per month.  In
January, 2007, the Company entered into an option to purchase certain mineral
claims (the Option) located in the Slocan Mining Division of British Columbia
from the Companys President, Mr. Scott Houghton.  The Option provides for
the Company to acquire a 100 percent undivided interest in and to the
aforementioned mineral claims, free and clear of all charges, encumbrances and
claims in exchange for $5,000, which amount was paid by the issuance of common
stock and the Company is also required to make payments pursuant to the Option
as follows:  Payment No.
Amount
Date1
$
            10,000
12/01/20072
$
            10,000
12/31/20073
$
            50,000
12/31/2008  Mr.
Houghton has waived the payments due in December, 2007, and these have been
recorded as contributed capital in the Companys year end financial statements.
 The Company is required to incur exploration expenditures of up to $32,000
related to the mineral claims acquired prior to the end of given periods as per
the following schedule, as amended under and Addendum to the Option
Agreement:  Payment No.
Amount
Date1
$
        2,000
12/31/20082
$
      10,000
06/30/20093
$
      20,000
12/31/2009  If
the Company incurs less in exploration expenditures during a given period than
the amounts as per the schedule above, it will be required to pay the difference
prior to the expiration of that period.  If the Company incurs more in
exploration expenditures than the amounts as per the schedule above, the excess
amount will be carried forward and applied to the exploration expenditures to be
incurred in the succeeding periods.  The
Option is terminable by the Company at its sole discretion upon giving proper
notice to its President of intent to terminate.  The failure, by the
Company, to make any of the above referenced expenditures shall cause the Option
Agreement to terminate.  ITEM 13.
 EXHIBITS  Exhibit
No.
Document
Location3.1
Articles of
Incorporation
Previously
Filed3.2
Bylaws
Previously
Filed3.3
Amendment to
Bylaws
Previously
Filed10.1
Addendum to
Option Agreement
Included31
Rule
13a-14(a)/15d-14(a) Certifications
Included32
Section 1350
Certifications
Included  ITEM14.
 PRINCIPAL ACCOUNTANT FEES AND SERVICES.  1. Audit
Fees: Aggregate
 fees billed for each of the last two (2) fiscal years for professional
services rendered by the principal accountant for the audit of the annual
financial statements and review of financial statements included on Form 10-QSB:  2006: $ 0 2007: $ 12,000  2. Audit-Related
Fees: Aggregate
fees billed in each of the last two (2) fiscal years for assurance and related
services by the principal accountant that are reasonably related to the
performance of the audit or review of the financial statements and are not
reported previously.  2006: $ 0 2007: $ 0  3. Tax
Fees: Aggregate
fees billed in each of the last two (2) fiscal years for professional services
rendered by the principal accountant for tax compliance, tax advice, and tax
planning.  2006: $ 0 2007: $ 0  4. All
Other Fees: Aggregate
fees billed in each of the last two (2) fiscal years for products and services
provided by the principal accountant, other than the services previously
reported.  2006: $ 0 2007: $ 0  5. Audit
Committee Pre-Approval Procedures.  The Board of Directors has not, to
date, appointed an audit committee.        SIGNATURES  In accordance with
Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.   BIG
BEAR RESOURCES INC.  Date:  March
13,
2008                                                       
***/s/ Scott C.
Houghton*** Scott
C. Houghton, President   In accordance with
the Exchange Act, 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/ Scott C. Houghton***

***/s/ Benny Mumford***Scott C.
Houghton

Benny
MumfordPresident, CEO,
CFO, Director

Vice President,
DirectortDate:
 3/13/08

Date: 
3/13/08***/s/ Korina Houghton***Korina
HoughtonSecretary,
Treasurer, DirectorDate: 
3/13/08