----

----

| Nevada                          | 27-3787574          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation or organization)  | Identification No.) |

| 7230 Indian Creek Ln., Ste 201,Las Vegas, NV | 89149      |
|----------------------------------------------|------------|
| (Address of principal executive offices)     | (Zip Code) |

| Large accelerated filer | o |                                          | Accelerated filer         | o |
|-------------------------|---|-----------------------------------------------|---------------------------|---|
| Non-accelerated filer   | o | (Do not check if a smaller reporting company) | Smaller reporting company | x |

----

----

| PART I – FINANCIAL INFORMATION                                           | ii       |
|--------------------------------------------------------------------------------|----------|
|                                                                           |     |
| ITEM 1. FINANCIAL STATEMENTS                                                   | ii       |
|                                                                           |     |
| ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.  |  10 |
|                                                                           |     |
| ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK             |  15 |
|                                                                           |     |
| ITEM 4T. CONTROLS AND PROCEDURES                                               |  16 |
|                                                                           |     |
| PART II – OTHER INFORMATION                                              |  16 |
|                                                                           |     |
| ITEM 1. LEGAL PROCEEDINGS                                                 |  16 |
|                                                                           |     |
| ITEM 1A. RISK FACTORS                                                          |  16 |
|                                                                           |     |
| ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS            |  22 |
|                                                                           |     |
| ITEM 3. DEFAULTS UPON SENIOR SECURITIES                                        |  24 |
|                                                                           |     |
| ITEM 4. [REMOVED AND RESERVED]                                                 |  24 |
|                                                                           |     |
| ITEM 5. OTHER INFORMATION                                                      |  24 |
|                                                                           |     |
| ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K                                       |  25 |
|                                                                           |     |
| SIGNATURES                                                                |  26 |

----

|                                                                                                                                                         |    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
| Balance Sheets – February 28, 2011 and May 31, 2010                                                                                               | 2       |
|                                                                                                                                                         |    |
| Statements of Operations for the three and nine months ended February 28, 2011 and 2010 and for the period October 19, 2006 (Inception) to February 28, 2011 |  3 |
|                                                                                                                                                         |    |
| Statements of Stockholder’s Equity (Deficit) for the period October 19, 2006 (Inception) to February 28, 2011                                          |  4 |
|                                                                                                                                                         |    |
| Statements of Cash Flows for the nine months ended February, 2011 and 2010 and for the period October 19, 2006 (Inception) to February 28, 2011              |  5 |
|                                                                                                                                                         |    |
| Notes to Financial Statements                                                                                                                                |  6 |

----

| LUCKY BOY SILVER CORPORATION                                               |         |
|----------------------------------------------------------------------------|--------------|
| (FKA SIERRA VENTURES, INC.)                                                |         |
| (An Exploration Stage Company)                                             |         |
| Balance Sheets                                                             |         |
|                                                                       |         |   |   |   |
|                                                                       |         |   |   |   |
| ASSETS                                                                     |         |
|                                                                       |         |   |   |   |
|                                                                       | February 28, |   | May 31, |   |
|                                                                       | 2011         |   | 2010 |   |
| CURRENT ASSETS                                                             | (Unaudited)  |   |   |   |
|                                                                       |         |   |   |   |
| Cash                                                                       | $            | 197,230 |   | $ | 46,393 |   |
| Restricted cash                                                            |         | 19,002 |   |   | 43,500 |   |
| Prepaid expenses                                                           |         | 333,556 |   |   | - |   |
|                                                                       |         |   |   |   |   |   |
| Total Current Assets                                                       |         | 549,788 |   |   | 89,893 |   |
|                                                                       |         |   |   |   |   |   |
| PROPERTY AND EQUIPMENT, net                                                |         | 2,361 |   |   | - |   |
|                                                                       |         |   |   |   |   |   |
| OTHER ASSETS                                                               |         |   |   |   |   |   |
| Deposits                                                                   |         | 1,200 |   |   | 1,200 |   |
| Mining claims, net                                                         |         | 57,500 |   |   | 57,500 |   |
|                                                                       |         |   |   |   |   |   |
| Total Other Assets                                                         |         | 58,700 |   |   | 58,700 |   |
|                                                                       |         |   |   |   |   |   |
| TOTAL ASSETS                                                               | $            | 610,849 |   | $ | 148,593 |   |
|                                                                       |         |   |   |   |   |   |
|                                                                       |         |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                       |         |
|                                                                       |         |   |   |   |   |   |
| CURRENT LIABILITIES                                                        |         |   |   |   |   |   |
|                                                                       |         |   |   |   |   |   |
| Accounts payable and accrued expenses                                      | $            | 3,346 |   | $ | 1,080 |   |
|                                                                       |         |   |   |   |   |   |
| Total Current Liabilities                                                  |         | 3,346 |   |   | 1,080 |   |
|                                                                       |         |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                                                       |         |   |   |   |   |   |
|                                                                       |         |   |   |   |   |   |
| Preferred stock, 1,000,000 shares authorized                               |         |   |   |   |   |   |
| at par value $0.001, 675,000 and 0                                         |         |   |   |   |   |   |
| shares isuued and outstanding, respectively                                |         | 675 |   |   | - |   |
| Common stock, 499,000,000 shares authorized                                |         |   |   |   |   |   |
|    at par value of $0.001; 74,153,214 and 140,465,000       |         |   |   |   |   |   |
|    shares issued and outstanding, respectively              |         | 74,153 |   |   | 140,465 |   |
| Additional paid-in capital                                                 |         | 1,276,322 |   |   | 334,685 |   |
| Stock subscription payable                                                 |         | - |   |   | 50,000 |   |
| Other comprehensive loss                                                   |         | 59 |   |   | 59 |   |
| Deficit accumulated during the exploration stage                           |         | (743,706 | ) |   | (377,696 | ) |
|                                                                       |         |   |   |   |   |   |
| Total Stockholders' Equity                                                 |         | 607,503 |   |   | 147,513 |   |
|                                                                       |         |   |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                 | $            | 610,849 |   | $ | 148,593 |   |
|                                                                       |         |   |   |   |   |   |
|                                                                       |         |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |         |

----

| LUCKY BOY SILVER CORPORATION                                              |                       |
|---------------------------------------------------------------------------|----------------------------|
| (FKA SIERRA VENTURES, INC.)                                               |                       |
| (An Exploration Stage Company)                                            |                       |
| Statements of Operations                                                  |                       |
| (Unaudited)                                                               |                       |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |
|                                                                      |                       |   |   |   |   |   |   |   | From Inception |   |
|                                                                      |                       |   |   |   |   |   |   |   | on October 19, |   |
|                                                                      | For the Three Months Ended |   | For the Nine Months Ended |   | 2006 Through |   |
|                                                                      | February 28,               |   | February 28, |   | February, 28 |   |
|                                                                      | 2011                       |   | 2010 |   | 2011 |   | 2010 |   | 2011 |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |
| REVENUES                                                                  | $                          | - |   | $ | - |   | $ | - |   | $ | - |   | $ | - |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES                                                        |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Professional fees                                                         |                       | 279,986 |   |   | 147,162 |   |   | 325,117 |   |   | 149,765 |   |   | 526,303 |   |
| Exploration of resource property                                          |                       | 5,203 |   |   | - |   |   | 23,415 |   |   | - |   |   | 58,415 |   |
| Impariment of mining claims                                               |                       | - |   |   | - |   |   | - |   |   | - |   |   | 57,500 |   |
| General and administrative expenses                                       |                       | 3,311 |   |   | 7,484 |   |   | 17,478 |   |   | 14,509 |   |   | 101,488 |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Operating Expenses                                                  |                       | 288,500 |   |   | 154,646 |   |   | 366,010 |   |   | 164,274 |   |   | 743,706 |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                      |                       | (288,500 | ) |   | (154,646 | ) |   | (366,010 | ) |   | (164,274 | ) |   | (743,706 | ) |
| PROVISION FOR INCOME TAXES                                                |                       | - |   |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS                                                                  | $                          | (288,500 | ) | $ | (154,646 | ) | $ | (366,010 | ) | $ | (164,274 | ) | $ | (743,706 | ) |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC AND DILUTED LOSS PER SHARE                                          | $                          | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) |   |   |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBER                                                   |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   OF SHARES OUTSTANDING                                         |                       | 94,457,105 |   |   | 136,406,868 |   |   | 126,832,302 |   |   | 134,468,956 |   |   |   |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                      |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements |                       |

----

| LUCKY BOY SILVER CORPORATION                                               |                                                                                                                            |
|----------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|
| (FKA SIERRA VENTURES, INC.)                                                |                                                                                                                            |
| (An Exploration Stage Company)                                             |                                                                                                                            |
| Statements of Stockholders' Equity                                         |                                                                                                                            |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Deficit |   |   |   |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Accumulated |   |   |   |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   | Additional |   | Stock |   | Other |   | During the |   | Total |   |
|                                                                       | Preferred Stock                                                                                                                 |   | Common Stock |   |   | Paid-in |   | Subscription |   | Comprehensive |   | Exploration |   | Stockholders' |   |
|                                                                       | Shares                                                                                                                          |   | Amount |   | Shares |   |   | Amount |   |   | Capital |   | Payable |   | Loss |   | Stage |   | Equity/(Deficit) |   |
| Balance, October 19, 2006                                                  |                    -             |   |  $ |             - |   |                    - |   | $ |             - |   | $ |                  - |   |  $ |                  - |   |  $ |                  - |   |  $ |                    - |   |  $ |                    - |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common shares issued for cash                                              |                    -             |   |   |             - |   |   103,500,000 |   |   |   103,500 |   |   |        (88,500 | )  |   |                  - |   |   |                  - |   |   |                    - |   |   |            15,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency exchange loss                                                     |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  (2 | )  |   |                    - |   |   |                   (2 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Contributed Administrative Support                                         |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   & other services rendered by officers                      |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |               100 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |                 100 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss for the year ended                                                |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   May 31, 2007                                                   |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |            (5,816 | )  |   |            (5,816 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, May 31, 2007                                                      |                    -             |   |   |             - |   |   103,500,000 |   |   |   103,500 |   |   |        (88,400 | )  |   |                  - |   |   |                  (2 | )  |   |            (5,816 | )  |   |              9,282 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common shares issued for cash                                              |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |                    - |   |   |                    - |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Contributed Administrative Support                                         |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   & other services rendered by officers                      |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                 50 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |                   50 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency exchange gain                                                     |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  61 |   |   |                    - |   |   |                   61 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss for the year ended                                                |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    May 31, 2008                                             |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |          (56,311 | )  |   |          (56,311 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, May 31, 2008                                                      |                    -             |   |   |             - |   |   103,500,000 |   |   |   103,500 |   |   |        (88,350 | )  |   |                  - |   |   |                  59 |   |   |          (62,127 | )  |   |          (46,918 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common shares issued for cash                                              |                    -             |   |   |             - |   |     30,000,000 |   |   |     30,000 |   |   |          70,000 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |          100,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss for the year ended                                                |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   May 31, 2009                                                   |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |          (51,056 | )  |   |          (51,056 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, May 31, 2009                                                      |                    -             |   |   |             - |   |   133,500,000 |   |   |   133,500 |   |   |        (18,350 | )  |   |                  - |   |   |                  59 |   |   |        (113,183 | )  |   |              2,026 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital contribution                                                       |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |          10,000 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |            10,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                               |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   at $0.40 per common share                                      |                    -             |   |   |             - |   |       6,375,000 |   |   |       6,375 |   |   |        163,625 |   |   |           50,000 |   |   |                  - |   |   |                    - |   |   |          220,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for services                                           |                    -             |   |   |             - |   |          440,000 |   |   |          440 |   |   |        119,560 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |          120,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for mining claims                                      |                    -             |   |   |             - |   |          150,000 |   |   |          150 |   |   |          59,850 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |            60,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss for the year ended                                                |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   May 31, 2010                                                   |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |        (264,513 | )  |   |        (264,513 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, May 31, 2010                                                      |                      - |   |   |               - |   |   140,465,000 |   |   |   140,465 |   |   |        334,685 |   |   |           50,000 |   |   |                  59 |   |   |        (377,696 | )  |   |          147,513 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                               |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   at $0.40 per common share (unaudited)                          |                    -             |   |   |             - |   |          125,000 |   |   |          125 |   |   |          49,875 |   |   |         (50,000 | )  |   |                  - |   |   |                    - |   |   |                    - |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                               |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   at $0.63 per common share (unaudited)                          |                      - |   |   |               - |   |          356,154 |   |   | 356 |   |   |        224,644 |   |   |                  - |   |   |                  - |   |   |                    - |   |   |          225,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                               |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   at $0.85 per common share (unaudited)                          |                      - |   |   |               - |   |            47,060 |   |   |            47 |   |   |          39,953 |   |   |                    - |   |   |                    - |   |   |                      - |   |   |            40,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock issued for prepaid services                                   |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   at $0.85 per common share (unaudited)                          |                      - |   |   |               - |   |          660,000 |   |   |          660 |   |   |        560,340 |   |   |                    - |   |   |                    - |   |   |                      - |   |   |          561,000 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock exchanged for                                                 |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   preferred stock (unaudited)                                    |          675,000                                                                   |   |   |         675 |   |   (67,500,000 | )  |   |   (67,500 | )  |   | 66,825 |   |   |                    - |   |   |                    - |   |   |                      - |   |   |                      - |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss for the nine months ended                                         |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   February 28, 2011 (unaudited)                                       |                    -             |   |   |             - |   |                    - |   |   |             - |   |   |                  - |   |   |                  - |   |   |                  - |   |   |        (366,010 | )  |   |        (366,010 | )  |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, February 28, 2011(unaudited)                                      |          675,000                                                                   |   | $ |     675 |   | 74,153,214 |   | $ | 74,153 |   | $ |     1,276,322 |   | $ |                    - |   | $ |                  59 |   | $ |        (743,706 | )  | $ |          607,503 |   |
|                                                                       |                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |                                                                                                                            |

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| LUCKY BOY SILVER CORPORATION                                               |
|----------------------------------------------------------------------------|
| (FKA SIERRA VENTURES, INC.)                                                |
| (An Exploration Stage Company)                                             |
| Statements of Cash Flows                                                   |
| (Unaudited)                                                                |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   |   |   |   | From Inception |   |
|                                                                       |   |   |   |   | on October 19, |   |
|                                                                       | For the Nine Months Ended |   | 2006 Through |   |
|                                                                       | February 28, |   | February 28, |   |
|                                                                       | 2011 |   | 2010 |   | 2011 |   |
|                                                                       |   |   |   |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                       |   |   |   |   |   |   |
| Net loss                                                                   | $ | (366,010 | ) | $ | (164,274 | ) | $ | (743,706 | ) |
| Adjustments to reconcile net loss to                                       |   |   |   |   |   |   |   |   |   |
|   net cash used in operating activities:                         |   |   |   |   |   |   |   |   |   |
| Depreciation                                                               |   | 67 |   |   | - |   |   | 67 |   |
| Contributed services by an officer                                         |   | - |   |   | - |   |   | 150 |   |
| Other comprehensive loss                                                   |   | - |   |   | - |   |   | 59 |   |
| Common stock issued for services                                           |   | 238,844 |   |   | 120,000 |   |   | 358,844 |   |
| Impairment of mining claims                                                |   | - |   |   | - |   |   | 57,500 |   |
| Changes to operating assets and liabilities:                               |   |   |   |   |   |   |   |   |   |
| Prepaid expenses                                                           |   | (11,400 | ) |   | (400 | ) |   | (11,400 | ) |
| Deposits                                                                   |   | - |   |   | (1,200 | ) |   | (1,200 | ) |
| Accounts payable                                                           |   | 2,266 |   |   | (3,325 | ) |   | 3,346 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| Net Cash Used in Operating Activities                                      |   | (136,233 | ) |   | (49,199 | ) |   | (336,340 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                       |   |   |   |   |   |   |   |   |   |
| Purchase of computer equipment                                             |   | (2,428 | ) |   | - |   |   | (2,428 | ) |
| Purchase of mining claims                                                  |   | - |   |   | (55,000 | ) |   | (55,000 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |
| Net Cash Used in Operating Activities                                      |   | (2,428 | ) |   | (55,000 | ) |   | (57,428 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                       |   |   |   |   |   |   |   |   |   |
| Capital contribution                                                       |   | - |   |   | 10,000 |   |   | 10,000 |   |
| Common stock issued for cash                                               |   | 265,000 |   |   | 170,000 |   |   | 600,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| Net Cash Provided by Financing Activities                                  |   | 265,000 |   |   | 180,000 |   |   | 610,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| NET INCREASE IN CASH                                                       |   | 126,339 |   |   | 75,801 |   |   | 216,232 |   |
| CASH AT BEGINNING OF PERIOD                                                |   | 89,893 |   |   | 5,351 |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| CASH AT END OF PERIOD                                                      | $ | 216,232 |   | $ | 81,152 |   | $ | 216,232 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF                                                |   |   |   |   |   |   |   |   |   |
| CASH FLOW INFORMATION                                                      |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| CASH PAID FOR:                                                             |   |   |   |   |   |   |   |   |   |
| Interest                                                                   | $ | - |   | $ | - |   | $ | - |   |
| Income Taxes                                                               |   | - |   |   | - |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| NON CASH FINANCING ACTIVITIES:                                             |   |   |   |   |   |   |   |   |   |
| Exchange of common stock for preferred stock                               | $ | 67,500 |   | $ | - |   | $ | - |   |
| Stock issued for stock subscriptions payable                               | $ | 50,000 |   | $ | - |   | $ | - |   |
| Common stock issued for prepaid expenses                                   | $ | 561,000 |   | $ | - |   | $ | - |   |
| Common stock issued for mining claims                                      | $ | - |   | $ | 60,000 |   | $ | 60,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |

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|                                         | Three MonthsEndedFebruary 28, 2011 | Three MonthsEndedFebruary 28, 2010 | Nine Months EndedFebruary 28, 2011 | Nine Months EndedFebruary 28, 2010 |
|----------------------------------------------|------------------------------------|------------------------------------|------------------------------------|------------------------------------|
| Professional fees                            | 279,986                            | 147,162                            | 325,117                            | 149,765                            |
| Advertising and promotion                    | -                                  | -                                  | -                                  | -                                  |
| Office and rent expense                      | -                                  | -                                  | -                                  | -                                  |
| Travel, entertainment & public relations | -                                  | -                                  | -                                  | -                                  |
| Exploration of resource property             | 5,203                              | -                                  | 23,415                             |                               |
| General and administrative                   | 3,311                              | 7,484                              | 17,478                             | 14,509                             |
| Total operating expenses                     | 288,500                            | 154,646                            | 366,010                            | 164,274                            |

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| General and administrative expenses |   | $      | 50,000    |   |
|-------------------------------------|--------|--------|-----------|--------|
| Future property acquisitions        |   |   | 130,000   |   |
| Working capital                     |   |   | 50,000    |   |
| Development of properties           |   |   | 1,000,000 |   |
|                                |   | $      | 1,230,000 |   |

|                |   | February, 28 |   |   | May 31  |   |
|---------------------|--------|--------------|--------|--------|---------|--------|
|                |   | 2011         |   |   | 2010    |   |
| Current Assets      | $      | 610,849      |   |   | 148,593 |   |
| Current Liabilities |   | 3,346        |   |   | 1,080   |   |
| Working Capital     | $      | 607,503      |   |   | 147,513 |   |

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|                                      |   | Nine Months  |      | Nine Months  |
|-------------------------------------------|--------|--------------|-----------|--------------|
|                                      |   | Ended        |      | Ended        |
|                                      |   | February 28, |      | February 28, |
|                                      |   | 2011         |      | 2010         |
| Net cash used in operating activities     |   | $            | (136,233) |         |   | (49,199) |
| Net cash provided by investing activities |   |         | (2,428)   |         |   | (55,000) |
| Net cash provided by financing activities |   |         | 265,000   |         |   | 180,000 |
| Net increase (decrease) in cash           |   | $            | 126,339   |         |   | 75,801 |

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| ●   | our ability to find a profitable exploration property; |
|---------------------|--------------------------------------------------------|

| ●   | our ability to generate revenues; and |
|---------------------|---------------------------------------|

| ●   | our ability to reduce exploration costs. |
|---------------------|------------------------------------------|

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| ●   | Costs of bringing the property into production including exploration work, preparation of production feasibility studies and construction of production facilities; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | Availability and costs of financing; |
|---------------------|--------------------------------------|

| ●   | Ongoing costs of production; |
|---------------------|------------------------------|

| ●   | Market prices for the products to be produced; |
|---------------------|------------------------------------------------|

| ●   | Environmental compliance regulations and restraints; and |
|---------------------|----------------------------------------------------------|

| ●   | Political climate and/or governmental regulation and control. |
|---------------------|---------------------------------------------------------------|

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| Name and Address                                                      | Date              | Shares  | Consideration |
|-----------------------------------------------------------------------|-------------------|---------|---------------|
|                                                                  |              |    |          |
| Ray Urquhart155 Tyee Drive, No. 428Point Roberts, WA 98281            | November 14, 2006 | 250,000 | $2,500        |
|                                                                  |              |    |          |
| Elizabeth O’Connor174 Gulf Road, No. 34,Point Roberts, WA 98281 | November 16, 2006 | 150,000 | $1,500        |
|                                                                  |              |    |          |
| John McNultyP.O. Box 4370Seattle, WA 98194                            | November 14, 2006 | 200,000 | $2,000        |
|                                                                  |              |    |          |
| Troy Jackson,1685 H Street, No. 155,Blaine, WA 98230                  | November 14, 2006 | 300,000 | $3,000        |

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| Exhibit No. | Description                                                                                                                                                                                                                        |
|-------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1         | Articles of Incorporation filed as an exhibit to our Form SB-2 filed on October 12, 2007                                                                                                                                           |
| 3.2         | Bylaws filed as an exhibit to our Form SB-2 filed on October 12, 2007                                                                                                                                                              |
| 3.3         | Filed Articles of Conversion and Corporate Charter issued by the Secretary of State of the State of Nevada filed as an exhibit to our Form 8-K on April 5, 2011                                                                    |
| 10.1        | Option to Purchase and Royalty Agreement dated March 22, 2007 with Jiujiang Gao Feng Mining Industry Limited Company filed as an exhibit to our Form SB-2 filed on October 12, 2007                                                |
| 10.2        | Form of Private Placement subscription agreement attached as an exhibit to our Form SB-2 filed on October 12, 2007                                                                                                                 |
| 10.3        | Escrow Agreement dated November 25, 2008 between Ian Jackson, Sierra Ventures Inc. and Harcourt Chan filed as an exhibit to our Form S-1/A filed on January 14, 2009                                                               |
| 10.4        | First Amendment to Option to Purchase and Royalty Agreement) between Sierra Ventures, Inc. and Jiujiang Gao Feng Mining Industry Limited Company dated May 15 2009 filed as an exhibit to our Form 10-K filed on September 8, 2009 |
| 10.5        | Form of Private Placement subscription agreement filed as an exhibit to our Form 8-K filed on December 31, 2009                                                                                                                    |
| 10.6        | Letter Agreement dated February 8, 2010 between Ken Liebscher, Monte Cristo Projects LLC and Alan Chambers filed as an exhibit to our current report on Form 8-K filed on March 1, 2010                                            |
| 10.7        | Assignment Agreement dated February 23, 2010 with Ken Liebscher filed as an exhibit to our current report on Form 8-K filed on March 1, 2010                                                                                       |
| 10.8        | Business Consulting Agreement dated December 21, 2009 with Wannigan Consulting Corp. (incorporated by reference to an exhibit to our annual report on Form 10-K filed September 14, 2010.                                          |
| 10.9        | Share Issuance Agreement dated October 25, 2010 between Lucky Boy Silver Corp. and Cardinal Capital Holdings Limited (incorporated by reference to an exhibit to our current report on Form 8-K filed October 29, 2010)            |
| 14.1        | Code of Ethics filed as an exhibit to our Form SB-2 filed on October 12, 2007                                                                                                                                                      |
| 31.1*       | Certification Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002                                                                                                                                                            |
| 31.2*       | Certification Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002                                                                                                                                                            |
| 32.1*       | Certification Pursuant to Section 906 of the Sarbanes-Oxley Act Of 2002                                                                                                                                                            |
| 99.0        | Form 14c authorizing change in Company shares authorized from 500,000,000 common to 499,000,000 common and 1,000,000 preferred with conversion and voting rights of 1:100 files on Form 8-K filed on December 27, 2010             |

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| By:    | /s/ Kenneth Liebscher              | By:    | /s/ Fortunato Villamagna                      |
|--------|------------------------------------|--------|-----------------------------------------------|
|   | KENNETH B. LIEBSCHER,              |   | DR. FORTUNATO VILLAMAGNA,                     |
|   | President, Chief Executive Officer |   | Secretary, Treasurer, Chief Financial Officer |
|   | Principal Executive Officer        |   | Principal Financial, Officer and              |
|   |                               |   | Principal Accounting Officer                  |