----

----

| [X] | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|-----|---------------------------------------------------------------------------------------------------|

| [  ] | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|----------------|----------------------------------------------------------------------------------------------------|

| Nevada(State      or other jurisdictionOf      incorporation or organization) |   | 26-0841675(IRS      EmployerIdentification      No.) |
|-------------------------------------------------------------------------------|--------|------------------------------------------------------|

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

----

|          |                                                                                                                                                                         | Page    |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
| PART      I.  | FINANCIAL      INFORMATION                                                                                                                                                   |    |
|          |                                                                                                                                                                         |    |
| Item      1.  | Financial      Statements                                                                                                                                                    |    |
|          |                                                                                                                                                                         |    |
|          | Balance      SheetsOctober      31, 2008 (unaudited) and July 31, 2008                                                                                                       | 3       |
|          |                                                                                                                                                                         |    |
|          | Statements      of Operations (unaudited)Three      Months Ended October 31, 2008 and 2007and      Cumulative Amounts from July 8, 2003 (Inception) to October 31,      2008 | 4       |
|          |                                                                                                                                                                         |    |
|          | Statement      of Stockholders’ Equity (Deficit) (unaudited)Cumulative      Amounts from July 3, 2003 (Inception) to October 31, 2008                                  |  5 |
|          |                                                                                                                                                                         |    |
|          | Statements      of Cash Flows (unaudited)Three      Months Ended October 31, 2008 and 2007and      Cumulative Amounts from July 8, 2003 (Inception) to October 31,      2008 | 6       |
|          |                                                                                                                                                                         |    |
|          | Notes      to Financial Statements (unaudited)                                                                                                                               | 7       |
|          |                                                                                                                                                                         |    |
| Item      2.  | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations                                                                        | 8       |
|          |                                                                                                                                                                         |    |
| Item      3.  | Quantitative      and Qualitative Disclosures About Market Risk                                                                                                              | 9       |
|          |                                                                                                                                                                         |    |
| Item      4T. | Controls      and Procedures                                                                                                                                                 | 9       |
|          |                                                                                                                                                                         |    |
| PART      II. | OTHER      INFORMATION                                                                                                                                                       |    |
|          |                                                                                                                                                                         |    |
| Item      1.  | Legal      Proceedings                                                                                                                                                       | 10      |
|          |                                                                                                                                                                         |    |
| Item      1A. | Risk      Factors                                                                                                                                                            | 10      |
|          |                                                                                                                                                                         |    |
| Item      2.  | Unregistered      Sales of Equity Securities and Use of Proceeds                                                                                                             | 10      |
|          |                                                                                                                                                                         |    |
| Item      3.  | Defaults      Upon Senior Securities                                                                                                                                         | 10      |
|          |                                                                                                                                                                         |    |
| Item      4.  | Submission      of Matters to a Vote of Security Holders                                                                                                                     | 10      |
|          |                                                                                                                                                                         |    |
| Item      5.  | Other      Information                                                                                                                                                       | 10      |
|          |                                                                                                                                                                         |    |
| Item      6.  | Exhibit      Index                                                                                                                                                           | 10      |
|          |                                                                                                                                                                         |    |
| Signatures    |                                                                                                                                                                         | 11      |

----

|                                                                       |   | October      31,2008(Unaudited) |    |   | July 31,2008 |   |
|----------------------------------------------------------------------------|--------|---------------------------------|---------|--------|--------------|--------|
|                                                                       |   |                            |    |   |         |   |
| ASSETS                                                                     |   |                            |    |   |         |   |
|                                                                       |   |                            |    |   |         |   |
| Current      assets                                                        |   |                            |    |   |         |   |
| Cash and cash      equivalents                                             |   | $                               | -       |   |         | $      | 53 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total Current    Assets                                                    |   |                            | -       |   |         |   | 53 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Mineral property (Note      3)                                             |   |                            | 876     |   |         |   | 876 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total      assets                                                          |   | $                               | 876     |   |         | $      | 929 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| LIABILITIES      AND STOCKHOLDERS’ DEFICIT                           |   |                            |    |   |         |   |   |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Current      liabilities                                                   |   |                            |    |   |         |   |   |   |
| Bank overdraft                                                             |   | $                               | 7       |   |         | $      | - |   |
| Accounts payable and accrued      liabilities                              |   |                            | 42,544  |   |         |   | 34,856 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total Current      Liabilities                                             |   |                            | 42,551  |   |         |   | 34,856 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total      liabilities                                                     |   |                            | 42,551  |   |         |   | 34,856 |   |
|                                                                       |   |                            |    |   |         |   |   |   |
| Stockholders’      deficit                                           |   |                            |    |   |         |   |   |   |
| Common stock - $0.001 par      value; authorized – 75,000,000 shares |   |                            |    |   |         |   |   |   |
| Issued and outstanding –      6,000,000 shares                       |   |                            | 6,000   |   |         |   | 6,000 |   |
| Paid in capital                                                            |   |                            | 24,000  |   |         |   | 24,000 |   |
| Deficit accumulated during the      development stage                      |   |                            | (71,675 | )      |         |   | (63,927 | ) |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total stockholders’      deficit                                     |   |                            | (41,675 | )      |         |   | (33,927 | ) |
|                                                                       |   |                            |    |   |         |   |   |   |
| Total      liabilities and stockholders’ deficit                     |   | $                               | 876     |   |         | $      | 929 |   |

----

|                                                      |   |   Three      Months EndedOctober      31, 2008 |      |   |   Three      Months EndedOctober      31, 2007 |   |      | CumulativeAmounts      FromInceptionToOctober      31, 2008 |   |
|-----------------------------------------------------------|--------|--------------------------------------------------------------------|-----------|--------|--------------------------------------------------------------------|--------|-----------|------------------------------------------------------------------|--------|
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |
| REVENUES                                                  |   | $                                                                  | -         |   |                                                               | $      | -         |                                                             |   | $ | 387 |   |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| EXPENSES                                                  |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| General and      Administrative                           |   |                                                               | 6,942     |   |                                                               |   | 12,856    |                                                             |   |   | 65,815 |   |
| Mineral exploration      costs                            |   |                                                               | 806       |   |                                                               |   | 806       |                                                             |   |   | 4,532 |   |
|        Oil and gas property operating costs          |   |                                                               | -         |   |                                                               |   | -         |                                                             |   |   | 1,310 |   |
|        Loss on disposal of oil and gas               |   |                                                               | -         |   |                                                               |   | -         |                                                             |   |   | 330 |   |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
|                                                      |   |                                                               | (7,748    | )      |                                                               |   | (13,662   | )                                                                |   |   | (71,987 | ) |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Provision      for Income Taxes                           |   |                                                               | -         |   |                                                               |   | -         |                                                             |   |   | - |   |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Net      loss                                             |   | $                                                                  | (7,748    | )      |                                                               | $      | (13,662   | )                                                                |   | $ | (71,600 | )    |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Net      Loss Per Common Share                            |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Basic      and Diluted                                    |   | $                                                                  | (0.001    | )      |                                                               | $      | (0.002    | )                                                                |   | $ | (0.014 | ) |
|                                                      |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Weighted      average number of common shares outstanding |   |                                                               |      |   |                                                               |   |      |                                                             |   |   |   |   |
| Basic      and Diluted                                    |   |                                                               | 6,000,000 |   |                                                               |   | 6,000,000 |                                                             |   |   | 5,158,078 |   |

----

| Common Stock                                |    |                 |      |   |         | DeficitAccumulated |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|----------------------|-----------|--------|--------------|--------------------|--------|
|                                                                                                                                                                                                        |         | Numberof      Shares |      |   |  Amount |               |   | Paid      inCapital |   |   | During      theDevelopmentStage |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |
| Balance,      July 8, 2003                                                                                                                                                                                  |         |                 | -         |   |         | $                  | -      |   |   | $ | - |   |   | $ | - |   |
| (Date of      incorporation)                                                                                                                                                                                |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Loss for the    period                                                                                                                                                                                      |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | - |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2003                                                                                                                                                                                 |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | - |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Issuance of common stock for      cash at $0.005 per share:                                                                                                                                                 |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| August 2003                                                                                                                                                                                                 |         |                 | 3,000,000 |   |         |               | 3,000  |   |   |   | 12,000 |   |   |   | 15,000 |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      year                                                                                                                                                                                |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (1,731 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2004                                                                                                                                                                                 |         |                 | 3,000,000 |   |         |               | 3,000  |   |   |   | 12,000 |   |   |   | 13,269 |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Issuance of common stock for      cash at $0.005 per share:                                                                                                                                                 |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| August 2004                                                                                                                                                                                                 |         |                 | 2,065,000 |   |         |               | 2,065  |   |   |   | 8,260 |   |   |   | 10,325 |   |
| May 2005                                                                                                                                                                                                    |         |                 | 935,000   |   |         |               | 935    |   |   |   | 3,740 |   |   |   | 4,675 |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      year                                                                                                                                                                                |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (7,890 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2005                                                                                                                                                                                 |         |                 | 6,000,000 |   |         |               | 6,000  |   |   |   | 24,000 |   |   |   | 20,379 |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      year                                                                                                                                                                                |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (2,846 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2006                                                                                                                                                                                 |         |                 | 6,000,000 |   |         |               | 6,000  |   |   |   | 24,000 |   |   |   | 17,533 |   |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      year                                                                                                                                                                                |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (21,884 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2007                                                                                                                                                                                 |         |                 | 6,000,000 |   |         |               | 6,000  |   |   |   | 24,000 |   |   |   | (4,351 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      year                                                                                                                                                                                |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (29,576 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2008                                                                                                                                                                                 |         |                 | 6,000,000 |   |         | $                  | 6,000  |   |   | $ | 24,000 |   |   | $ | (33,927 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Net (loss) for the      period                                                                                                                                                                              |         |                 | -         |   |         |               | -      |   |   |   | - |   |   |   | (7,748 | ) |
|                                                                                                                                                                                                        |         |                 |      |   |         |               |   |   |   |   |   |   |   |   |   |   |
| Balance,      October 31, 2008                                                                                                                                                                              |         |                 | 6,000,000 |   |         | $                  | 6,000  |   |   | $ | 24,000 |   |   | $ | (41,675 | ) |

----

|                                                                                  |   |    Three      MonthsEndedOctober      31, 2008 |   |   |    Three      MonthsEndedOctober      31, 2007 |   |    | CumulativeAmounts      FromInceptionToOctober      31, 2008 |   |
|---------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------|--------|---------|------------------------------------------------------------------|--------|
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |
| OPERATING      ACTIVITIES                                                             |   |                                                               |   |   |                                                               |   |    |                                                             |   |
| Net loss                                                                              |   | $                                                                  | (7,748 | )      |                                                               | $      | (13,662 | )                                                                |   | $ | (71,675 | )    |
| Adjustments      to reconcile net loss to net cash used in operating      activities: |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Loss      on disposal of interest in oil and gas property                             |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | 330 |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Change      in non-cash working capital items:                                        |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Decrease in      prepaids                                                             |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | - |   |
| Increase in accounts payable      and accrued liabilities                             |   |                                                               | 7,688  |   |                                                               |   | 13,522  |                                                             |   |   | 42,544 |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Net cash used in operating      activities                                            |   |                                                               | (60    | )      |                                                               |   | (140    | )                                                                |   |   | (28,801 | ) |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| INVESTING      ACTIVITIES                                                             |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Purchase of interest in oil and      gas property                                     |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | (3,830 | ) |
| Disposal of interest in oil and      gas property                                     |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | 3,500 |   |
| Purchase of undeveloped mineral      property                                         |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | (876 | ) |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Net cash used in investing      activities                                            |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | (1,206 | ) |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| FINANCING      ACTIVITIES                                                             |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Sale of common    stock                                                               |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | 30,000 |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Net cash provided by financing      activities                                        |   |                                                               | -      |   |                                                               |   | -       |                                                             |   |   | 30,000 |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Net      increase (decrease) in cash                                                  |   |                                                               | (60    | )      |                                                               |   | (140    | )                                                                |   |   | (7 | ) |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Cash,      beginning of periods                                                       |   |                                                               | 53     |   |                                                               |   | 175     |                                                             |   |   | - |   |
|                                                                                  |   |                                                               |   |   |                                                               |   |    |                                                             |   |   |   |   |
| Cash      (overdraft), end of periods                                                 |   | $                                                                  | (7     | )      |                                                               | $      | 35      |                                                             |   | $ | (7 | ) |

----

----

----

----

----

| Regulation      S-K Number | Exhibit                                                                                                                                           |
|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                        | Articles      of Incorporation (1)                                                                                                                |
| 3.2                        | Amendment      to Articles of Incorporation (1)                                                                                                   |
| 3.3                        | Bylaws      (1)                                                                                                                                   |
| 10.1                       | Notice      of Mining Claims HR #1-6, recorded by Luna County, New Mexico, on March      24, 2004 (1)                                             |
| 10.2                       | Confirmation      of Agreement with Leroy Halterman dated August 1, 2007  (1)                                                                     |
| 10.3                       | Loan      Commitment Letter from Wellington Financial Corporation dated August 1,      2007 (1)                                                   |
| 10.4                       | Notice      of Intent to Hold the HR #1-6 Lode Mining Claims, filed with the Bureau of      Land Management on August 15, 2007 (1)                |
| 10.5                       | Notice      of Intent to Hold the HR #1-6 Lode Mining Claims recorded by Luna County,      New Mexico, on August 17, 2007 (1)                     |
| 31.1                       | Rule      15d-14(a) Certification of Armando Garcia                                                                                               |
| 32.1                       | Certification      of Armando Garcia Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant      to Section 906 of the Sarbanes-Oxley Act of2002 |

| (1) | Incorporated      by reference to the exhibits to the registrant’s registration statement on      Form SB-1 filed November 19, 2007, file number  333-147501. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | SIGNATURES |
|--------|------------|

|                               | HOMELAND RESOURCES      LTD. |                                             |
|------------------------------------|------------------------------|--------------------------------------------------|
|                               | (Registrant)                 |                                             |
|                               |                         |                                             |   |
| Date:       December 12, 2008 | By:                          | /s/ Armando      Garcia                     |   |
|                               |                         | Armando      Garcia,                             |   |
|                               |                         | President,      Secretary, Treasurer             |   |
|                               |                         | (principal      executive and financial officer) |   |

----

----