|           |                                                                                 | [X]                                                                      | ANNUAL      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|----------------|--------------------------------------------------------------------------------------|--------------------------------------------------------------------------|------------------------------------------------------------------------------------------|
|           |                                                                                 |  For      the fiscal year ended  June 30,      2009  |                                                                                     |
| [  ] | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE      ACT |                                                                     |                                                                                     |
|           |                                                                                 |  For      the transition period from _________ to ________     |                                                                                     |
|           |                                                                                 | Commission      file number:  000-27645                   |                                                                                     |
|           | Ivany Mining, Inc.                                                                   |                                                                     |                                                                                     |   |
|           | (Exact      name of registrant as specified in its charter)                     |                                                                     |                                                                                     |   |

| Delaware                                                                      |  88-0258277                          |
|-------------------------------------------------------------------------------|-------------------------------------------|
| (State      or other jurisdiction of incorporation or organization)      | (I.R.S.      Employer Identification No.) |
| 8720      A Rue Du FrostSt. Leonard, Quebec, Canada                           |  H1P 2Z5                             |
| (Address      of principal executive offices)                                 | (Zip      Code)                           |
|  Registrant’s      telephone number:  514-325-4567  |                                      |

| Securities      registered under Section 12(b) of the Exchange Act:        |
|---------------------------------------------------------------------------------|
| Title      of each class                                                        | Name      of each exchange on which registered |
| None                                                                            | not applicable |
|  Securities      registered under Section 12(g) of the Exchange Act:  |
| Title      of each class                                                        | Name      of each exchange on which registered |
| None                                                                            | not applicable  |

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 OF

|                 |                                                                                                                            | Page           |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------|----------------|
| PART I          |
| Item 1.              | Business                                                                                                                        |   4       |
| Item 1A.             | Risk Factors                                                                                                                    |   14      |
| Item 1B.             | Unresolved Staff Comments                                                                                                       |   14      |
| Item 2.              | Properties                                                                                                                      |   15      |
| Item 3.              | Legal Proceedings                                                                                                               |   19      |
| Item 4.              | Submission of Matters to a Vote of Security      Holders                                                                        |   19      |
|  PART II   |
| Item 5.              | Market for Registrant’s Common Equity and Related      Stockholder Matters and Issuer Purchases of Equity      Securities |   19      |
| Item 6.              | Selected Financial Data                                                                                                         |   21      |
| Item 7.              | Management’s Discussion and Analysis of Financial Condition      and Results of Operations                                |   22      |
| Item 7A.             | Quantitative and Qualitative Disclosures About Market      Risk                                                                 |   26      |
| Item 8.              | Financial Statements and Supplementary    Data                                                                                  |   26      |
| Item 9.              | Changes In and Disagreements With Accountants on Accounting      and Financial Disclosure                                       |   26      |
| Item 9A(T).          | Controls and Procedures                                                                                                         |   26      |
| Item 9B.             | Other Information                                                                                                               |        27 |
|                 |                                                                                                                            |           |
|  PART III  |
| Item 10.             | Directors, Executive Officers and Corporate      Governance                                                                     |   28      |
| Item 11.             | Executive Compensation                                                                                                          |   30      |
| Item 12.             | Security Ownership of Certain Beneficial Owners and      Management and Related Stockholder Matters                             |   33      |
| Item 13.             | Certain Relationships and Related Transactions, and      Director Independence                                                  |   36      |
| Item 14.             | Principal Accountant Fees and Services                                                                                          |   37      |
|                 |                                                                                                                            |           |

|  PART IV  |
|---------------------|
| Item 15.            | Exhibits, Financial Statement      Schedules |   38 |

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Item 1.   Business

PrincipalPlace of Business 

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| Phase      I                            |   |      |   |      |
|-----------------------------------------|--------|-----------|--------|-----------|
|                                    |   |      |   |      |
| Well      Log Data Compilation          | $      | 25,000    |   |      |
| Heavy      Mineral Sampling             | $      | 25,000    |   |      |
| Laboratory      & Isotopic Analysis | $      | 35,000    |   |      |
| Ground      Geophysics (IP, EM and Mag) | $      | 265,000   |   |      |
| Project      Management and Reporting   | $      | 50,000    |   |      |
| Phase      I Total                      | $      | 400,000   | $      | 400,000   |
|                                    |   |      |   |      |
| Phase      II                           |   |      |   |      |
|                                    |   |      |   |      |
| Ground      Geophysics (IP, EM and Mag) | $      | 200,000   |   |      |
| Diamond      Drilling (3000 m.)         | $      | 750,000   |   |      |
| Project      Management and Reporting   | $      | 50,000    |   |      |
| Sub-total=                              | $      | 1,000,000 | $      | 1,000,000 |
|                                    |   |      |   |      |
| Project      Total=                     | $      | 1,400,000 |   |      |

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Item 1A.   Risk Factors.

Item 1B. 

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Item 2.   Properties

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Item 3.   Legal Proceedings

Item 4.   Submission of Matters to a Vote of SecurityHolders

Item 5.

| Fiscal      Year Ended June 30, 2009 |
|--------------------------------------|
| Quarter      Ended                   |   | High      $ |   | Low      $ |
| September      30, 2008              |   | 0.91 |   | 0.19 |
| December      31, 2008               |   | 0.08 |   |  0.02  |
| March      31, 2009                  |   |  0.19  |   | 0.05 |
| June      30, 2009                   |   | 0.25 |   | 0.12 |

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| Fiscal      Year Ending June 30, 2008 |
|---------------------------------------|
| Quarter      Ended                    |   | High      $ |   | Low      $ |
| September      30, 2007               |   | 1.50 |   | 0.75 |
| December      31, 2007                |   | 0.75 |   | 0.65 |
| March      31, 2008                   |   | 0.81 |   | 0.65 |
| June      30, 2008                    |   | 1.25 |   | 0.65 |

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Holders of Our Common Stock 

Item 6.   Selected 

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Item 7

| Well Log Data      Compilation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  $        25,000 |             |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|------------------|
| Heavy Mineral      Sampling                                                                                      |  $        25,000 |             |
| Laboratory &      Isotopic Analysis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  $        35,000 |             |
| Ground Geophysics      (IP, EM and Mag)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  $      265,000            |             |
| Project Management      and Reporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  $        50,000 |             |
|                                                    Phase I Total      =                                                                                                                                                                                                                                             |  $400,000                  |  $  400,000 |

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|  Ground      Geophysics (IP, EM and Mag)                                                                                                                                                 |  $      200,000            |             |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|------------------|
|  Diamond      Drilling (3000      m.)                                                                                                                 |  $      750,000            |             |
|  Project      Management and Reporting                                                                                                                                                        |  $        50,000 |             |
|                                    Sub-total=     |  $1,000,000                |  $1,000,000 |
|                                                                                                                                                                                                    |                            |             |
|                                    Project      Total= |                            |  $1,400,000 |

|  Till sampling      and analysis                               |  CDN$ |  30 000  |
|-----------------------------------------------------------------------------------------|------------|--------------------|
|  Laboratory      analysis for multi-element samples                                |  CDN$ |  50 000  |
|  Use of heavy      machinery, clearing, and connection to paths                    |  CDN$ |  15 000  |
|  Miscellaneous, supervisory, and      overhead       |  CDN$ |  30 000  |
|  TOTAL PHASE ONE      RECOMMENDATION:                                         |  CDN$ |  265 000 |

| Followed by a      drilling campaign.             |  CDN$ |  335 000 |
|----------------------------------------------------------------------------|------------|--------------------|
|  TOTAL COST FOR PHASE      TWO:                                       |  CDN$ |  335      000 |
|  TOTAL COST FOR BOTH      PHASES:       |  CDN$ |  670 000 |

| The      forecasted cost for 68 square kilometers is                    |  CDN$ |  90 000 |
|------------------------------------------------------------------------------|------------|-------------------|
|  Heavy      machinery, ground clearing                   |  CDN$ |  30 000 |
|          Sampling                                   |  CDN$ |  20 000 |
|          Laboratories, analysis      |  CDN$ |  12    000   |
|  Project Management                                                     |  CND$ |  25 000      |
|  TOTAL COST FOR PHASE ONE :                                        |  CDN$ |  177  000    |

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Item 7A.   

Item 8.  

Item 9.  

Item 9A(T).  Controls and Procedures

Disclosure controls and procedures are controls and otherprocedures that are designed to ensure that information required to be disclosedin company reports filed or submitted under the Securities Exchange Act of 1934(the “Exchange Act”) is recorded, processed, summarized and reported, within thetime periods specified in the Securities and Exchange Commission’s rules andforms. Disclosure controls and procedures include without limitation, controlsand procedures designed to ensure that information required to be disclosed incompany reports filed or submitted under the Exchange Act is accumulated andcommunicated to management, including our chief executive officer and treasurer,as appropriate to allow timely decisions regarding required disclosure.

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Item 9B.

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Item 10. 

| Name                | Age | Position(s)      and Office(s) Held                   |
|---------------------|-----|-------------------------------------------------------|
| Derek      Ivany    | 26  | President,      Chief Executive Officer, and Director |
| Victor      Cantore | 42  | Director,      Chief Financial Officer                |
| Sam      Nguyen     | 39  | Vice-president,      Director                         |

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the size of ourcompany and our board of directors at this time.  We believe that wedo not require an audit committee financial expert at this time because weretain outside consultants who possess these attributes. 

| 1.   | Reviewed      and discussed the audited financial statements with management,      and |
|----------------|----------------------------------------------------------------------------------------|

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| 2.   | Reviewed      and discussed the written disclosures and the letter from our independent      auditors on the matters relating to the auditor's      independence. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name      and principal position | Number      oflate      reports | Transactions      nottimely      reported | Known      failures tofile      a required form |
|----------------------------------|---------------------------------|-------------------------------------------|-------------------------------------------------|
| Derek      Ivany                 | 0                               | 0                                         | 0                                               |
| Victor      Cantore              | 0                               | 0                                         | 0                                               |
| Sam      Nguyen                  | 0                               | 0                                         | 0                                               |

Item 11.  

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|                                           | SUMMARY      COMPENSATION TABLE |      |
|------------------------------------------------|---------------------------------|-----------|
| Nameandprincipalposition                       | Year                            | Salary($) | Bonus($) | Stock      Awards($) | OptionAwards($) | Non-EquityIncentive      PlanCompensation($) | NonqualifiedDeferredCompensationEarnings      ($) | All      OtherCompensation($) | Total($) |
| Derek      Ivany, president, CEO, and director | 20082009                   | 00        | 00 | 00 | 49,1880 | 00 | 00 | 00 | 49,1880 |
| Victor      Cantore, CFO and director          | 20082009                   | 00        | 00 | 00 | 49,1880 | 00 | 00 | 00 | 49,1880 |
| Sam      Nguyen, V.P. and director             | 20082009                        | 00        | 00 | 00 | 22,7690 | 00 | 00 | 00 | 22,7690 |

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| OUTSTANDING      EQUITY AWARDS AT FISCAL YEAR-END                                              |
|------------------------------------------------------------------------------------------------|
| OPTION      AWARDS                                                                             | STOCK      AWARDS |
|                Name |          Number      ofSecuritiesUnderlyingUnexercisedOptions(#)Exercisable |          Number      ofSecuritiesUnderlyingUnexercisedOptions (#)Unexercisable |      EquityIncentive PlanAwards:Number      ofSecuritiesUnderlyingUnexercisedUnearnedOptions(#) |             OptionExercise Price ($) |             OptionExpirationDate  |       NumberofSharesor      SharesofStock      ThatHaveNotVested(#) |    MarketValueofSharesorSharesofStockThatHaveNotVested($) |  EquityIncentive PlanAwards: NumberofUnearned Shares,Shares      orOtherRightsThat      Have NotVested(#) | EquityIncentivePlanAwards:Market      orPayoutValue      ofUnearnedShares,Shares      orOtherRightsThatHave      Not Vested(#) |
| Derek      Ivany                                                                               | 1,000,000 | 0 | 0 | 0.10 | 6.28.10 | 0 | 0 | 0 | 0 |
| Victor      Cantore                                                                            | 1,000,000 | 0 | 0 | 0.10 | 6.28.10 | 0 | 0 | 0 | 0 |
| Sam      Nguyen                                                                                | 400,000 | 0 | 0 | 0.10 | 6.28.10 | 0 | 0 | 0 | 0 |

| DIRECTOR      COMPENSATION |
|----------------------------|
| Name                  | Fees      Earned orPaid      inCash($) |   Stock      Awards($) |   Option      Awards($) | Non-EquityIncentivePlanCompensation($) | Non-QualifiedDeferredCompensationEarnings($) |  AllOtherCompensation($) |    Total($) |
| Derek      Ivany           | 0 | 0 | 49,188 | 0 | 0 | 0 | 49,188 |
| Victor      Cantore        | 0 | 0 |  49,188 | 0 | 0 |  0 | 49,188 |
| Sam      Nguyen            | 0 | 0 | 22,769 | 0 | 0 | 0 | 22,769 |

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Item 12. 

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|  Title of class | Name      and addressof beneficial owner                                                                                                                                                           | Amount      ofbeneficial ownership | Percentof class* |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------|------------------|
| Common               | Derek      Ivany16      Spears St.Toronto      Ontario M6N 3X7Canada                                                                                                                               | 11,166,000(1)                      | 30.15%           |
| Common               | Victor      Cantore8720      Rue Du FrostSt.      Leonard, Quebec H1P 2Z5Canada                                                                                                                    | 8,105,251(2)                       | 21.89      %     |
| Common               | Sam      Nguyen50      Noble St.Markham,      Ontario L3R 8G1Canada                                                                                                                                | 440,000(3)                         | 1.19%            |
| Common               | Total      all executive officers and directors                                                                                                                                                    | 19,711,251                         | 53.23%           |
|                 |                                                                                                                                                                                               |                               |             |
| Common               | 5%      Shareholders                                                                                                                                                                               |                               |             |
| Common               | Firebird      Global Master Fund, Ltd.c/o      Trident Trust Company (Cayman) Limited1      Capital Place, P.O. Box 847Grand      Cayman, Cayman IslandsFGS      Advisors, LLC, Investment Manager | 20,000,000(4)                      | 54.01%           |
| Common               | Anna      Giglio8720      Rue Du FrostSt.      Leonard, Quebec H1P 2Z5Canada                                                                                                                       | 3,100,000                          | 8.37%            |
| Common               | Arclight      Capital, LLC2062      Troon DriveHenderson,      NV  89074Andrew      C. Burton, Managing Member                                                                           | 6,976,408(5)                       | 18.84%           |
| Common               | Spectra      Capital Management, LLC595      Madison Avenue, 37th      FloorNew      York, NY  10022Gregory      I. Porges, Managing MemberAndrew      C. Burton, Manager                | 6,953,168(6)                       | 18.78%           |

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Item 13

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Item 14.   

| Financial      Statements for the Year Ended June 30 | Audit      Services | Audit      Related Fees | Tax      Fees | Other      Fees |
|------------------------------------------------------|---------------------|-------------------------|---------------|-----------------|
| 2009                                                 | $19,500             | $0                      | $0            | $0              |
| 2008                                                 | $6,375              | $0                      | $0            |  $0        |

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Item 15.

| Audited      Financial Statements:  |
|------------------------------------------|
| F-1                                      | Report      of Independent Registered Public Accounting Firm |
|  F-2                                |  Consolid                Balance      Sheets as of June 30, 2009  and 2008 |
|  F-3                                |  Statements      of Operations for the years ended June 30, 2009 and 2008 and period from      inception to June 30, 2008 |
|  F-4                                |  Statement      of Stockholders’ Equity for period from inception to June 30,      2009 |
|  F-5                                |  Statements      of Cash Flows for the years ended June 30, 2009 and 2008 and period from      inception to June 30, 2009 |
|  F-6                                |  Notes      to Financial Statements |

| Exhibit      Number | Description                                                                                                                                                                              |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                 | Articles      of Incorporation, as amended (1)                                                                                                                                           |
| 3.2                 | Bylaws,      as amended (2)                                                                                                                                                              |
| 23.1                | Consent of Maddox, Ungar Silberstein, PLLC, Certified      Public Accountants                                                                                                            |
| 31.1                | Certification of Chief Executive Officer pursuant to      Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to      Section 302 of the Sarbanes-Oxley Act of 2002    |
| 31.2                | Certification of Chief Financial Officer pursuant to      Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to      Section 302 of the Sarbanes-Oxley Act of 2002    |
| 32.1                | Certification of Chief Executive Officer and Chief      Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant      to Section 906 of the Sarbanes-Oxley Act of  2002 |

| 1   | Incorporated      by reference to Annual Report on Form 10-KSB for the period ended June 30,      2002 filed on December 19, 2002. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------|

| 2   | Incorporated      by reference to the Registration Statement on Form 10 filed December 28,      1999. |
|---------------|-------------------------------------------------------------------------------------------------------|

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| By:    | /s/Derek      Ivany                                                             |
|--------|---------------------------------------------------------------------------------|
|   | Derek      IvanyPresident,      Chief Executive Officer,and      Director  |
|   | November      10, 2009                                                          |

| By:    | /s/Derek      Ivany                                                             |
|--------|---------------------------------------------------------------------------------|
|   | Derek      IvanyPresident,      Chief Executive Officer,and      Director  |
|   | November      10, 2009                                                          |

| By:    | /s/Victor      Cantore                                                                                 |
|--------|--------------------------------------------------------------------------------------------------------|
|   | Victor      Cantore, Chief Financial Officer,Principal      Accounting Officer,and      Director  |
|   | November      10, 2009                                                                                 |

| By:    | /s/Sam      Nguyen                                     |
|--------|--------------------------------------------------------|
|   | Sam      Nguyen, Vice Presidentand      Director  |
|   | November      10, 2009                                 |

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 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

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|                                                                                             ASSETS |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |          June 30, |   |           June    30, |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |            2009 |   |                  2008 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |
| CURRENT ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Cash |   |  $ |              455,263 |   | $ |              102,983 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Total Current Assets |   |              455,263 |   |   |         102,983 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| EQUIPMENT, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                 3,286 |   |   |             5,306 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| OTHER ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Mineral properties |   |                        - |   |   |                         - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Total Other Assets |   |                        - |   |   |                         - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | TOTAL ASSETS |  $ |              458,549 |   |  $ |              108,289 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                      LIABILITIES AND STOCKHOLDERS'      EQUITY                                                                                                                                                                          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Accounts payable |  $ |                 53,653 |   |  $ |           17,686 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Loans due to shareholders |   |            46,983 |   |   |                         - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Total Current Liabilities |   |           100,636 |   |   |           17,686 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Preferred stock; 10,000,000 shares      authorized, |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | at $0.001 par value, none issued or      outstanding |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | and outstanding |   |                         - |   |   |                         - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Common stock; 200,000,000 shares      authorized, |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | at $0.001 par value, 36,431,877, and      25,451,877 shares |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | issued and outstanding respectively |   |           36,052 |   |   |           25,452 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Additional paid-in capital |   |       9,871,877 |   |   |      9,094,477 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  Stock subscription receivable |   |         (19,000) |   |   |                         - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Deficit accumulated during the      exploration stage |   |      (9,555,016) |   |   |     (9,029,326) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Total Stockholders' Equity |   |          357,913 |   |   |               90,603 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ |               458,549 |   | $ |              108,289 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |

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|---------------------------------|---------------------------------|--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |             From Inception                                                                                                                                          |
|                            |                            |                     |                                                                                                                                                                                                    |                                 For the Year Ended                                                        |                                                                                                                                  |                   Through                                                                                                             |
|                            |                            |                     |                                                                                                                                                                                                    |                                           June 30, |                                                                                                                                  |                    June 30,                                                                                                      |
|                            |                            |                     |                                                                                                                                                                                                    |                       2009                                                                                                                             |                                                                                                                                  |                       2008                                                                                        |                                                                                                                                                                        |                      2009                       |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| REVENUES                        |                            |  $             |                                       - |                                                                                                                                                                                                                                   |  $                                                                                                                          |                                      - |                                                                                                                                                                        |  $                                                                                                          |                                     - |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| OPERATING EXPENSES              |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
|                            | Exploration                     |                     |                                                                                                                                                                                                    |                             31,276                                                                                       |                                                                                                                                  |                                                                                                                                                                                              |                           139,597                                       |                                                                                                                  |                                                                                                                                                                                        |                         170,873                       |
|                            | Professional Fees               |                     |                                                                                                                                                                                                    |                           180,314                                                                                                  |                                                                                                                                  |                                                                                                                                                                                              |                           288,575                                       |                                                                                                                  |                                                                                                                                                                                        |                    468,889                       |
|                            | General and administrative      |                     |                                                                                                                                                                                                    |                           289,927                                                                                                  |                                                                                                                                  |                                                                                                                                                                                              |                        1,674,424                                                       |                                                                                                                  |                                                                                                                                                                                        |                 1,964,351                                       |
|                            | Impairment of mining properties |                     |                                                                                                                                                                                                    |                             17,153                                                                                       |                                                                                                                                  |                                                                                                                                                                                              |                           528,068                                            |                                                                                                                  |                                                                                                                                                                                        |                    545,221                       |
|                            | Depreciation                    |                     |                                                                                                                                                                                                    |                          2,020                                                                            |                                                                                                                                  |                                                                                                                                                                                              |                             758 |                                                                                                                  |                                                                                                                                                                                        |                             2,778 |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
|                            |                            | Total Operating Expenses |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                           520,690 |                                                                                                                                                                                              |                                                                                                                                                                        |                        2,631,422 |                                                                                                                                                                                        |                                                                                                                                            |                      3,152,112 |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| LOSS FROM OPERATIONS            |                            |                     |                         (520,690)                                                                             |                                                                                                                                                                                                                                   |                                                                                                                                  |                (2,631,422)                                                                                             |                                                                                                                                                                        |                                                                                                                  |                    (3,152,112)                                                                                             |
| INCOME TAX EXPENSE              |                            |                     |                                       - |                                                                                                                                                                                                                                   |                                                                                                                                  |                                      - |                                                                                                                                                                        |                                                                                                                  |                                - |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
| LOSS FROM CONTINUING OPERATIONS |                            |                     | (520,690)                                                                                                                                             |                                                                                                                                                                                                                                   |                                                                                                                                  |                      (2,631,422)                                                                   |                                                                                                                                                                        |                                                                                                                  |                     (3,152,112)                                                                                       |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| DISCONTINUED OPERATIONS         |                            |                     |                                  - |                                                                                                                                                                                                                                   |                                                                                                                                  |                                      - |                                                                                                                                                                        |                                                                                                                  |                    (6,397,904)                                                                                             |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| NET LOSS                        |                            |  $                  |                         (520,690)                                                                             |                                                                                                                                                                                                                                   |  $                                                                                                                               |                (2,631,422)                                                                                             |                                                                                                                                                                        |  $                                                                                                               |                    (9,550,016)                                                                                             |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| BASIC LOSS PER SHARE            |                            |  $                  | (0.02)                                                                                                                                      |                                                                                                                                                                                                                                   |  $                                                                                                                               | (0.20)                                                                                                                           |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |
| WEIGHTED AVERAGE           |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
|   NUMBER OF SHARES         |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
|   OUTSTANDING              |                            |                     |             25,994,069                                                     |                                                                                                                                                                                                                                   |                                                                                                                                  |        12,848,955                                                                             |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |
|                            |                            |                     |                                                                                                                                                                                                    |                                                                                                                                                                                                                                   |                                                                                                                                  |                                                                                                                                                                                              |                                                                                                                                                                        |                                                                                                                  |                                                                                                                                                                                        |                                                                                                                                            |                                                                                                      |

----

|                                             |   |              |       |    |   |        |   |            |      |    |
|--------------------------------------------------|--------|-------------------|------------|---------|--------|-------------|--------|-----------------|-----------|---------|
|                                             |   |              |       |    |   |        |   | Deficit         |      |    |
|                                             |   |              |       |    |   |        |   | Accumulated     |      |    |
|                                             |   |              |       |    |   | Additional  |   | During      the |      | Total   |
|                                             |   | Common      Stock |       | Paid-In |   | Exploration |   | Stockholders'   |
|                                             |   | Shares            |       | Amount  |   | Capital     |   | Stage           |      | Deficit |
|                                             |   |              |       |    |   |        |   |            |      |    |
| Balance,      June 30, 2005                      |   |              | 246,032    |    | $      | 246         |   | $               | 6,215,095 |    | $ | (6,330,697) |   | $ | (115,356) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Net      loss for the year ended                 |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|     June      30, 2006       |   |              | -          |    |   | -           |   |            | -         |    |   | (28,518) |   |   | (28,518) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Balance,      June 30, 2006                      |   |              | 246,032    |    |   | 246         |   |            | 6,215,095 |    |   | (6,359,215) |   |   | (143,874) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Net      loss for the year ended                 |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|     June      30, 2007       |   |              | -          |    |   | -           |   |            | -         |    |   | (38,689) |   |   | (38,689) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Balance,      June 30, 2007                      |   |              | 246,032    |    |   | 246         |   |            | 6,215,095 |    |   | (6,397,904) |   |   | (182,563) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Mineral      properties acquired                 |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|   for      common stock                |   |              | 20,150,000 |    |   | 20,150      |   |            | 77,958    |    |   | - |   |   | 98,108 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Common      stock issued for cash                |   |              | 5,055,845  |    |   | 5,056       |   |            | 1,273,191 |    |   | - |   |   | 1,278,247 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Value      of options granted                    |   |              | -          |    |   | -           |   |            | 1,528,233 |    |   | - |   |   | 1,528,233 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Net      loss for the year                       |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|     ended      June 30, 2008 |   |              | -          |    |   | -           |   |            | -         |    |   | (2,631,422) |   |   | (2,631,422) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Balance,      June 30, 2008                      |   |              | 25,451,877 |    |   | 25,452      |   |            | 9,094,477 |    |   | (9,029,326) |   |   | 90,603 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Common      stock issued for                     |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|   services      at $0.91               |   |              | 300,000    |    |   | 300         |   |            | 272,700   |    |   | - |   |   | 273,000 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Common      stock issed for                      |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|   cash      at $0.05 per share         |   |              | 200,000    |    |   | 200         |   |            | 9,800     |    |   | - |   |   | 10,000 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Common      stock issued for exercised           |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| options      at $0.05 per share                  |   |              | 100,000    |    |   | 100         |   |            | 4,900     |    |   | - |   |   | 5,000 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Common      stock issed for                      |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|   cash      at $0.05 per share         |   |              | 10,380,000 |    |   | 10,380      |   |            | 508,620   |    |   | - |   |   | 519,000 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Shares      to be issued                         |   |              | (380,000)  |    |   | (380)       |   |            | (18,620)  |    |   | -  |   |   | (19,000) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Net      loss for the year ended                 |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
|     June      30, 2009       |   |              | -          |    |   | -           |   |            | -         |    |   | (520,690) |   |   | (520,690) |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |
| Balance,      June 30, 2009                      |   |              | 36,051,877 |    | $      | 36,052      |   | $               | 9,871,877 |    | $ | (9,550,016) |   | $ | 357,913 |
|                                             |   |              |       |    |   |        |   |            |      |    |   |   |   |   |   |

----

|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          | From      Inception |
|                                                                                                                           |   |                                                                                                                                                                           | For      the Year EndedJune 30, | ThroughJune 30, |
|                                                                                                                           |   |                                                                                                                                                                           | 2009                            |            |                                                                                                                                        |        2008                                                                                              |                |                                                                                                    |                2009                                        |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
| OPERATING      ACTIVITIES                                                                                                      |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     Net      loss                                                                                          |   | $                                                                                                                                                                              |  (520,690)                 |            | $                                                                                                                                      |  (2,631,422)                                                                                             |                |  $                                                                                                 |  (9,550,016)                                                                                       |
|     Adjustments to      reconcile net loss to net cash                                                     |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |
|       used by      operating activities:                                                         |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|        Discountinued      operations                                                        |   |                                                                                                                                                                           |        -                   |            |                                                                                                                                        |                   - |                |                                                                                                    |    6,215,341                                                                             |
|        Value of      options granted                                                        |   |                                                                                                                                                                           |        -                   |            |                                                                                                                                        |    1,528,233                                                                                   |                |                                                                                                    |    1,528,233                                                                             |
|        Common stock      issued for services                                                |   |        273,000                                                                                                                                                            |                            |            |                   -                               |                                                                                                          |                |      273,000                                                                   |
|        Depreciation                                                                         |   |                                                                                                                                                                           |        2,020               |            |                                                                                                                                        |              758                             |                |                                                                                                    |           2,778                                       |
|        Impairment of mining      properties         |   |                             17,153 |                            |            |                       528,068 |                                                                                                          |                |          545,221                                                                    |
|     Changes      in operating assets and liabilities:                                                      |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |
|      Change in accounts      payable                                                                  |   |        35,967                                                                                                                                                             |                            |            |       (15,796)                                                                                                |                                                                                                          |                | 53,653                                                                                                  |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|           Net      Cash Used in                                                   |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|             Operating      Activities                              |   |                                                                                                                                                                           |    (192,550)     |            |                                                                                                                                        |     (590,159)                                                                             |                |                                                                                                    |     (931,790)                                                                       |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
| INVESTING      ACTIVITIES                                                                                                      |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     Purchase of      mineral properties                                                                    |   |     (17,153)                                                                                                                                               |                            |            |     (429,960)                                                                                                           |                                                                                                          |                |     (447,113)                                                                       |
|     Purchase of      computer equipment                                                                    |   |        -                                                                                                                                                                  |                            |            |         (6,064)                                                                                     |                                                                                                          |                |         (6,064)                                                 |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|               Net Cash Used in                                                         |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                 Investing Activities                                         |   |                                                                                                                                                                           |    (17,153)      |            |                                                                                                                                        |     (436,024)                                                                             |                |                                                                                                    |     (453,177)                                                                       |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
| FINANCING      ACTIVITIES                                                                                                      |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     Proceeds from      common stock                                                                        |   |        515,000                                                                                                                                                            |                            |            |    1,278,247                                                                                                                 |                                                                                                          |                |    1,793,247                                                                             |
|     Repayment of      notes payable                                                                        |   |        -                                                                                                                                                                  |                            |            |       (40,247)                                                                                                |                                                                                                          |                |       (40,247)                                                            |
|     Proceeds from      notes payable                                                                       |   |        -                                                                                                                                                                  |                            |            |                   -                               |                                                                                                          |                |         40,247                                                  |
|     Repayment to      shareholder                                                                          |   |                                                                                                                                                                           |        -                   |            |                                                                                                                                        |     (113,979)                                                                             |                |                                                                                                    |     (113,979)                                                                       |
|     Borrowings from      shareholder                                                                       |   |    46,983                                                                                                                                                       |                            |            |           5,145                                                                           |                                                                                                          |                |       160,962                                                             |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|               Net Cash Provided by                                                     |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                 Financing Activities                                         |   |                                                                                                                                                                           |        561,983             |            |                                                                                                                                        |    1,129,166                                                                                   |                |                                                                                                    |    1,840,230                                                                             |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     NET      DECREASE IN CASH                                                                              |   | 352,280                                                                                                                                                                        |                            |            |       102,983                                                                                                 |                                                                                                          |                |       455,263                                                             |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     CASH AT      BEGINNING OF PERIOD                                                                       |   |        120,304                                                                                                                                                            |                            |            |                   -                               |                                                                                                          |                |                  - |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     CASH AT      END OF PERIOD                                                                             |   | $                                                                                                                                                                              | 455,263                         |            | $                                                                                                                                      |       102,983                                                                   |                |  $                                                                                                 |       455,263                                                             |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
| SUPPLEMENTAL      DISCLOSURES OF                                                                                               |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     CASH      FLOW INFORMATION                                                                             |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     CASH PAID      FOR:                                                                                    |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|        Interest                                                                             |   | $                                                                                                                                                                              | -                               |            |                                                                                                                                        |                   - |                |  $                                                                                                 |                  - |
|        Income      Taxes                                                                    |   | $                                                                                                                                                                              | -                               |            |                                                                                                                                        |                   - |                |  $                                                                                                 |                  - |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|     NON      CASH FINANCING ACTIVITIES:                                                                    |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|        Common stock      issued for mineral properties                                      | $      | -                                                                                                                                                                              |                            | $          |         98,108                                                                                      |                                                                                                          |  $             |         98,108                                                  |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |
|                                                                                                                           |   |                                                                                                                                                                           |                            |            |                                                                                                                                        |                                                                                                          |                |                                                                                                    |                                                                                                    |

----

NOTES TO FINANCIAL STATEMENTS 

----

|                                                                |   | 2009   |      | 2008   |
|---------------------------------------------------------------------|--------|--------|-----------|--------|
|                                                                |   |   |      |   |
| Book      loss                                                 |   | $      | (520,690) |   | $ | (2,631,422) |
| Common      stock and stock options      granted for services  |   |   | 273,000   |   |   | 1,528,233 |
| Valuation      allowance                                            |   |   | 247,690   |   |   | 1,103,189 |
|                                                                |   |   |      |   |   |   |
|                                                                |   | $      | -         |   | $ | - |

|                                       | 2009   |            | 2008   |
|--------------------------------------------|--------|-----------------|--------|
| Deferred      tax assets:                  |   |            |   |   |
|     NOL      Carryover | $      | 3,972,196  |   | $ | 3,724,506  |
| Valuation      allowance                   |   | (3,972,196)     |   |   | (3,724,506) |
| Net      deferred tax assets               | $      | -               |   | $ | - |

----

----

----

----

----

|                                                                                                                | Weighted      Number of Options |    | AverageExercise      Price |
|---------------------------------------------------------------------------------------------------------------------|---------------------------------|---------|----------------------------|
|  Outstanding,      June 30, 2007                                                                               |  -                         |  $ |  -                    |
|      Granted              |  2,500,000                 |    |  0.10                 |
|      Exercised                                                                             |  -                         |    |                       |
|      Cancelled                                                                             |  -                         |    |  -                    |
|  Outstanding,      June 30, 2008                                                                               |  2,500,000                 |  $ |  0.10                 |
|                                                                                                                |                            |    |                       |
|  Exercisable,      June 30, 2008                                                                               |  2,500,000                 |  $ |  0.10                 |
|                                                                                                                |                            |    |                       |
|  Outstanding,      June 30, 2008                                                                               |  2,500,000                 |    |  0.10                 |
|      Granted                                                                               |          -       |    | -                          |
|      Exercised                                                                             | 100,000                         |    |  0.05                 |
|      Cancelled                                                                             |  -                         |    |  -                    |
|  Outstanding,      June 30, 2009                                                                               |  2,400,000                 |  $ |  0.10                 |
|  Exercisable,      June 30, 2009                                                                               |  2,400,000                 |  $ |  0.10                 |
|                                                                                                                |                            |    |                       |

----

| ASSETS                                                                 |
|------------------------------------------------------------------------|
|                                                                   |   |   |   |   |
|                                                                   | June      30, | June      30, |
|                                                                   | 2008 | 2008 |
|                                                                   | (Restated) | (Original) |
| CURRENT      ASSETS                                                    |   |   |   |   |
|                                                                   |   |   |   |   |
| Cash                                                                   |   | $ | 102,983 |   | $ | 120,304 |
|                                                                   |   |   |   |   |   |   |
| Total      Current Assets                                              |   |   | 102,983 |   |   | 120,304 |
|                                                                   |   |   |   |   |   |   |
| EQUIPMENT,      net                                                    |   |   | 5,306 |   |   | 5,336 |
|                                                                   |   |   |   |   |   |   |
| OTHER      ASSETS                                                      |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |
| Mineral      properties                                                |   |   | - |   |   | 528,068 |
|                                                                   |   |   |   |   |   |   |
| Total      Other Assets                                                |   |   | - |   |   | 528,068 |
|                                                                   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |
| TOTAL      ASSETS                                                      |   | $ | 108,289 |   | $ | 653,708 |
|                                                                   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS'      EQUITY                              |
|                                                                   |   |   |   |   |   |   |
| CURRENT      LIABILITIES                                               |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |
| Accounts      payable                                                  |   | $ | 17,686 |   | $ | 14,263 |
| Loans      due to shareholders                                         |   |   | - |   |   | - |
|                                                                   |   |   |   |   |   |   |
| Total      Current Liabilities                                         |   |   | 14,263 |   |   | 14,263 |
|                                                                   |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY                                              |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |
| Preferred      stock; 10,000,000 shares authorized,                    |   |   |   |   |   |   |
|    at      $0.001 par value, none issued or outstanding |   |   |   |   |   |   |
|    and      outstanding                                 |   |   | - |   |   | - |
| Common      stock; 200,000,000 shares authorized,                      |   |   |   |   |   |   |
|    at      $0.001 par value, 36,431,877, and 25,451,877 |   |   |   |   |   |   |
|    shares      issued and outstanding respectively      |   |   | 25,452 |   |   | 25,452 |
| Additional      paid-in capital                                        |   |   | 9,094,477 |   |   | 8,858,911 |
| Stock      subscription receivable                                     |   |   | - |   |   | - |
| Deficit      accumulated during the exploration stage                  |   |   | (9,029,326) |   |   | (8,244,918) |
|                                                                   |   |   |   |   |   |   |
| Total      Stockholders' Equity                                        |   |   | 90,603 |   |   | 639,445 |
|                                                                   |   |   |   |   |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' EQUITY                        |   | $ | 108,289 |   | $ | 653,708 |

| STATEMENTS OF OPERATONS               |
|---------------------------------------|
|                                  |   |   |   |   |   |   |   |   |
|                                  |   | Restated |   | Original |
|                                  |   |   |   | From      Inception |   |   |   | From      Inception |
|                                  |   | For      the Year Ended |   | Through |   | For      the Year Ended |   | Through |
|                                  |   | June      30, |   | June      30, |   | June      30, |   | June      30, |
|                                  |   | 2008 |   | 2009 |   | 2008 |   | 2009 |
|                                  |   |   |   |   |   |   |   |   |
| REVENUES                              |   | $ | - |   | $ | - |   | $ | - |   | $ | - |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING      EXPENSES               |   |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Exploration                           |   |   | 139,597 |   |   | 139,801 |   |   | 139,801 |   |   | 139,801 |
| Professional      Fees                |   |   | 288,575 |   |   | 288,575 |   |   | - |   |   | - |
| General      and administrative       |   |   | 1,674,424 |   |   | 1,674,424 |   |   | 1,847,014 |   |   | 1,847,014 |
| Impairment      of mining properties  |   |   | 528,068 |   |   | 528,068 |   |   | - |   |   | - |
| Depreciation                          |   |   | 758 |   |   | 758 |   |   | 758 |   |   | 758 |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Operating Expenses         |   |   | 2,631,422 |   |   | 2,631,422 |   |   | 1,847,014 |   |   | 1,847,014 |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS      FROM OPERATIONS             |   |   | (2,631,422) |   |   | (2,631,422) |   |   | (1,847,014) |   |   | (1,847,014) |
| INCOME      TAX EXPENSE               |   |   | - |   |   | - |   |   | - |   |   | - |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS      FROM CONTINUING OPERATIONS  |   |   | (2,631,422) |   |   | (2,631,422) |   |   | (1,847,014) |   |   | (1,847,014) |
| LOSS      (GAIN) ON CURRENCY EXCHANGE |   |   | - |   |   | - |   |   | - |   |   | - |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| DISCONTINUED      OPERATIONS          |   |   | - |   |   | (6,397,904) |   |   | - |   |   | (6,397,904) |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| NET      LOSS                         |   | $ | (2,631,422) |   | $ | (9,550,016) |   | $ | (1,847,014) |   | $ | (8,244,918) |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC      LOSS PER SHARE             |   | $ | (0.20) |   |   |   |   | $ | (0.14) |   |   |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED      AVERAGE                 |   |   |   |   |   |   |   |   |   |   |   |   |
|   NUMBER      OF SHARES     |   |   |   |   |   |   |   |   |   |   |   |   |
|   OUTSTANDING               |   |   | 12,848,955 |   |   |   |   |   | 12,848,955 |   |   |   |