U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                Quarterly Report under Section 12(b) or 12(g) of
                           The Securities Act of 1934

                     For the Period ended February 29, 2008

                        Commission File Number 333-145443


                             CINNABAR VENTURES INC.
                 (Name of small business issuer in its charter)

        Nevada                                                      N/A
(State of incorporation)                                    (Employer ID Number)

                            #291 - 38 Pearson Street
                        Saint Johns, Newfoundland A1A 3R1
                                  (902)482-3456
          (Address and telephone number of principal executive offices)

Check whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes [X] No [ ]

Check whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act). Yes [X] No [ ]

There were 6,340,000 shares of Common Stock outstanding as of February 29, 2008.
<PAGE>
CINNABAR VENTURES INC.
(An Exploration Stage Company)
BALANCE SHEET
(UNAUDITED)
--------------------------------------------------------------------------------

                                                                    February 29,
                                                                       2008
                                                                      - $ -
                                                                     -------
ASSETS

Current
  Cash                                                                 1,431
                                                                     -------
Total current assets                                                   1,431
                                                                     -------

Total assets                                                           1,431
                                                                     =======

LIABILITIES

Current
  Accounts payable                                                        --
                                                                     -------
Total current liabilities                                                 --
                                                                     -------

Total liabilities                                                         --
                                                                     -------
STOCKHOLDERS' EQUITY

Common stock
  Authorized:
   75,000,000 common shares with a par value of $0.001
  Issued and outstanding:
    6,340,000 common shares                                            6,340
Additional paid in capital                                            52,560
Deficit accumulated during the exploration stage                     (57,469)
                                                                     -------
Total stockholders' equity                                             1,431
                                                                     -------

Total liabilities and stockholders' equity                             1,431
                                                                     =======


                 See accompanying notes to financial statements

                                       2
<PAGE>
CINNABAR VENTURES INC.
(An Exploration Stage Company)
STATEMENTS OF OPERATIONS
Three and Nine months ended February 29, 2008  and February 28, 2007
and Period from May 24, 2006 (Inception) through February 29, 2008
(UNAUDITED)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                             Period from
                                          Three months     Thee months      Nine months      Nine months     May 24, 2006
                                             ended            ended            ended            ended       (Inception) to
                                          February 29,     February 28,     February 29,     February 28,     February 29,
                                             2008             2007             2008             2007             2008
                                             - $ -            - $ -            - $ -            - $ -            - $ -
                                          ----------       ----------       ----------       ----------       ----------
<S>                                      <C>              <C>              <C>              <C>             <C>
Management fees                                3,000            3,000            9,000            9,000           21,000


General and administrative                     6,375            6,900           23,735            9,895           36,469
                                          ----------       ----------       ----------       ----------       ----------

Net loss                                       9,375            9,900           32,735           18,895           57,469
                                          ==========       ==========       ==========       ==========       ==========


Basic and diluted net loss per share           (0.00)           (0.00)           (0.01)           (0.00)

Weighted average
number of shares outstanding               6,340,000        6,340,000        6,340,000        5,618,162
                                          ==========       ==========       ==========       ==========
</TABLE>


                 See accompanying notes to financial statements

                                       3
<PAGE>
CINNABAR VENTURES INC.
(An Exploration Stage Company)
STATEMENTS OF CASH FLOWS
Nine months ended February 29, 2008 and February 28 2007
and Period from May 24, 2006 (Inception) through February 29, 2008
(UNAUDITED)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                 Period from
                                                                                                May 24, 2006
                                                             Nine months       Nine months       (Inception)
                                                                ended             ended            through
                                                             February 29,      February 28,      February 29,
                                                                2008              2007              2008
                                                                - $ -             - $ -             - $ -
                                                               -------           -------           -------
<S>                                                            <C>               <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                     (32,735)          (18,895)          (57,469)
  Adjustments to reconcile net loss to cash
   used by operating activities:
    Add: Non cash contribution of services                      13,500            13,500            31,500

  Net change in:
    Accounts payable                                              (500)               --                --
                                                               -------           -------           -------
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES          (19,735)           (5,395)          (25,969)
                                                               -------           -------           -------
CASH FLOWS FROM FINANCING ACTIVITIES
  Cash received from sale of common stock                           --            22,400            27,400
                                                               -------           -------           -------
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES                         --            22,400            27,400
                                                               -------           -------           -------

NET INCREASE (DECREASE) IN CASH                                (19,735)           17,005             1,431

Cash, beginning of period                                       21,166             5,000                --
                                                               -------           -------           -------

Cash, end of period                                              1,431            22,005             1,431
                                                               =======           =======           =======

Supplemental cash flow information:
  Interest paid                                                     --                --                --
                                                               =======           =======           =======
  Taxes paid                                                        --                --                --
                                                               =======           =======           =======
</TABLE>

                 See accompanying notes to financial statements

                                       4
<PAGE>
CINNABAR VENTURES INC.
NOTES TO FINANCIAL STATEMENTS
(An Exploration Stage Company)
PERIOD FROM INCEPTION (MAY 24, 2006) TO FEBRUARY 29, 2008
(UNAUDITED)
--------------------------------------------------------------------------------

Note 1. BASIS OF PRESENTATION

The accompanying  unaudited interim financial  statements of Cinnabar  Ventures,
Inc.  ("Cinnabar"  or the  "Company")  have been  prepared  in  accordance  with
accounting principles generally accepted in the United States of America and the
rules of the Securities and Exchange Commission  ("SEC"),  and should be read in
conjunction with the audited financial statements and notes thereto contained in
the  Company's  Annual Report filed with the SEC on Form SB-2. In the opinion of
management,  all  adjustments,   consisting  of  normal  recurring  adjustments,
necessary  for a fair  presentation  of  financial  position  and the results of
operations for the interim  periods  presented have been reflected  herein.  The
results of operations for our interim periods are not necessarily  indicative of
the results to be expected for the full year. Notes to the financial  statements
that would  substantially  duplicate  the  disclosure  contained  in the audited
financial  statements  for fiscal 2007, as reported in the Form SB-2,  have been
omitted.

These  financial  statements  have been  prepared on a going concern basis which
assumes  the  Company  will be able to  realize  its assets  and  discharge  its
liabilities  in the normal course of business for the  foreseeable  future.  The
Company  anticipates  future losses in the  development of its business  raising
substantial  doubt about the Company's  ability to continue as a going  concern.
The  ability to  continue  as a going  concern  is  dependent  upon the  Company
generating  profitable  operations  in the future and/or to obtain the necessary
financing to meet its obligations and repay its liabilities  arising from normal
business  operations when they come due. Management intends to finance operating
costs  over the next  twelve  months  with  existing  cash on hand,  loans  from
directors and/or issuance of common shares.

                                       5
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

RESULTS OF OPERATIONS

We did not earn any revenues during the period ended February 29, 2008.

We incurred operating expenses in the amount of $9,375 for the three month
period ended February 29, 2008. These operating expenses were comprised of
general and administrative expenses of $6,375 and management fees of $3,000. For
the same three month period ended February 28, 2007 we incurred operating
expenses in the amount of $9,900. These operating expenses were comprised of
general and administrative expenses of $6,900 and management fees of $3,000.

We incurred operating expenses in the amount of $32,735 for the nine month
period ended February 29, 2008. These operating expenses were comprised of
general and administrative expenses of $23,735 and management fees of $9,000.
For the same nine month period ended February 28, 2007 we incurred operating
expenses in the amount of $18,895. These operating expenses were comprised of
general and administrative expenses of $9,895 and management fees of $9,000.

Our net loss for the three month period ended February 29, 2008 decreased $525
from the comparative period in fiscal 2007 (2007: $9,900) primarily due to a
decrease in general and administrative expenses. Our net loss for the nine month
period ended February 29, 2008 increased $13,840 from the comparative period in
fiscal 2007 (2007: $18,895) primarily due to an icrease in general and
administrative expenses.

At February 29, 2008, we had total assets of $1,431 consisting entirely of cash.
At the same date we had no liabilities.

We have not attained profitable operations and are dependent upon obtaining
financing to pursue exploration activities. For these reasons our auditors
believe that there is substantial doubt that we will be able to continue as a
going concern.

PLAN OF OPERATION

Our plan of operation for the next twelve months is to complete the first of the
three phases of the exploration program on our claim. In addition to the $13,000
we anticipate spending for Phase 1 of the exploration program as outlined below,
we anticipate spending an additional $3,000 on professional fees, including fees
payable in connection with compliance with reporting obligations and general
administrative costs. Total expenditures over the next 12 months are therefore
expected to be approximately $16,000. If we experience a shortage of funds prior
to funding we may utilize funds from our directors, however they have no formal
commitment, arrangement or legal obligation to advance or loan funds to the
company.

                                       6
<PAGE>
The following three phase exploration proposal and cost estimate is offered with
the understanding that consecutive phases are contingent upon positive
(encouraging) results being obtained from each preceding phase and our ability
to raise additional capital after the first phase:

Phase 1 DATA EVALUATION AND PROSPECTING A team of two prospectors will
systematically cover the area to prospect for kimberlite rocks in float or in
outcrop (approximately 8 days). Aeromagnetic data for the claim area should be
scrutinized for kimberlite signatures. Priority areas for prospecting will be
any aeromagnetic anomalies. Any kimberlite found will be sampled and analyzed
for diamonds and diamond indicator minerals.

Phase 2 GEOCHEMICAL SAMPLING: All kimberlite targets found will be prospected in
detail and systematic soil sampling will be done along lines spaced no more than
100 meters apart and with samples at 50 or 25 meter intervals. Aeromagnetic
targets totally covered by overburden should also be sampled. Sampling methods
should follow the MMI protocol and samples need to be analyzed at a specialized
MMI laboratory. Positive results will be the outline of kimberlite bodies,
through indicator element signatures. Total duration of the field campaign
depends on the number of targets present. Duration will be 1 to 2 days per
target for a 2 person prospecting-sampling crew. Processing of samples during
summer can be up to 6 weeks

Phase 3 DRILLING: Positive targets will need to be drill tested, first with
shallow (<100 meter) holes. Tentatively 5 drill holes are contemplated.

                                     Budget

PHASE 1 PROSPECTING                                       C $             US $
-------------------                                      ------        ---------
Mobilization and travel costs to Chibougamau              2,000
Prospector 8 days @  $350/day                             2,800
Assistant  8 days  @  $250/day                            2,000
Camping equipment/food                                    2,300
Floatplane  (shared)                                      3,000
Organization, planning                                      900
Total                                                    13,000          13,000

PHASE 2 GEOCHEMICAL SAMPLING
-----------------------------
Mobilization and travel to Chibougamua                    3,000
Technician 15 days @ $400/day                             6,000
Assistant 15 days @  $250/day                             3,750
Camping equipment and food                                3,500
Floatplane charter                                        4,000
Sampling materials and equipment                            600
MiM analysis  250 samples @ $35                           8,750
Sample shipping                                             500
Drafting, Interpretation and Report                       7,000

                                       7
<PAGE>
Assessment fees                                           1,980
Planning, Organization                                    2,000
Total                                                    41,080          41,624

PHASE 3 DIAMOND DRILLING
------------------------
500 m , 4 drill holes @ $110/m                           45,000
Supervision, organization and logging, sampling          16,000
Helicopter support 30 hrs @ $1,100                       33,000
Mobe and Demobe                                          60,000
Report, Drafting                                          6,000
Camping, travel costs, food                              25,000
                                                        185,000         187,478
                                                                        -------
                                                                        242,102
                                                                        =======

Subject to financing, we plan to commence Phase 1 of the exploration program on
the claim in late spring 2008. We expect this phase to take eight days to
complete and an additional one to two months for the geologist to prepare his
report.

The above program costs are management's estimates based upon the
recommendations of the professional geologist's report and the actual project
costs may exceed our estimates. To date, we have not commenced exploration.

Following phase one of the exploration program, if it proves successful in
identifying mineral deposits, we intend to proceed with phase two of our
exploration program. Subject to financing and the results of phase 1, we
anticipate commencing with phase 2 and 3 in summer 2008 or spring 2009. We have
a verbal agreement with Andre Pauwels, the professional geologist who prepared
the geology report on the Balou Claims, to retain his services for our planned
exploration program. We will require additional funding to proceed with any
subsequent work on the claim; we have no current plans on how to raise the
additional funding. We cannot provide any assurance that we will be able to
raise sufficient funds to proceed with any phase of the exploration program.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

SIGNIFICANT ACCOUNTING POLICIES

It is suggested that these financial statements be read in conjunction with our
May 31, 2007 audited financial statements and notes thereto, which can be found
in our SB-2 Registration Statement on the SEC website at www.sec.gov under our
SEC File Number 333-145443.

                                       8
<PAGE>
Our significant accounting policies are as follows:

BASIS OF PRESENTATION

The financial statements of the Company have been prepared in accordance with
generally accepted accounting principles in the United States of America and are
presented in US dollars. The Company's year end is May 31.

CASH AND CASH EQUIVALENTS

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

REVENUE RECOGNITION

The Company recognizes reproduction and distribution revenue in accordance with
Securities and Exchange Commission Staff Accounting Bulletin No. 101 and 104
("SAB 101 and 104"), "Revenue Recognition in Financial Statements." Revenue is
recognized only when the price is fixed or determinable, persuasive evidence of
an arrangement exists, the service is performed, and collectability is
reasonably assured. As at February 29, 2008 the Company has not generated any
revenues.

USE OF ESTIMATES AND ASSUMPTIONS

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

FOREIGN CURRENCY TRANSLATION

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

FAIR VALUE OF FINANCIAL INSTRUMENT

The carrying value of cash approximates its fair value because of the short
maturity of this instrument. Unless otherwise noted, it is management's opinion

                                       9
<PAGE>
the Company is not exposed to significant interest, currency or credit risks
arising from this financial instrument.

COMPREHENSIVE LOSS

SFAS No. 130, "Reporting Comprehensive Income," establishes standards for the
reporting and display of comprehensive loss and its components in the financial
statements. As at November 30, 2007, the Company has no items that represent a
comprehensive loss and, therefore, has not included a schedule of comprehensive
loss in the financial statements.

INCOME TAXES

Potential benefits of income tax losses are not recognized in the accounts until
realization is more likely than not. The Company has adopted SFAS No. 109
"Accounting for Income Taxes" as of its inception. Pursuant to SFAS No. 109 the
Company is required to compute tax asset benefits for net operating losses
carried forward.

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

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

RECENT ACCOUNTING PRONOUNCEMENTS

The Company anticipates that the future adoption of recent accounting
pronouncements will not have a material impact on the Company's financial
statements.

ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our

                                       10
<PAGE>
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have not identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 2. UNREGISTERED SALE OF SECURITIES

None.

ITEM 3. DEFAULT OF SENIOR SECURITIES

None.

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

None.

ITEM 5. OTHER INFORMATION

Not applicable.

                                       11
<PAGE>
ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in their entirety in our Form SB-2 Registration
Statement, filed under SEC File Number 333-145443, at the SEC website at
www.sec.gov:

     Exhibit
     Number                         Description
     ------                         -----------

       3.1        Articles of Incorporation*
       3.2        Bylaws*
      31.1        Sec. 302 Certification of Principal Executive Officer
      31.2        Sec. 302 Certification of Principal Financial Officer
      32.1        Sec. 906 Certification of Principal Executive Officer
      32.2        Sec. 906 Certification of Principal Financial Officer

                                   SIGNATURES

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

April 4, 2008                     Cinnabar Ventures Inc., Registrant


                                  By: /s/ Stephanie Wood
                                      ------------------------------------------
                                      Stephanie Wood, President, Chief Executive
                                      Officer, Principal Accounting Officer, and
                                      Chief Financial Officer

                                       12