---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC
20549

FORM 10-QSB

[ x ] Quarterly Report Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2006

OR

[]
  Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934

For the transition period from _______to _______

COMMISSION FILE NUMBER 333-120788

ELECTRUM MINING
LIMITED(Exact name of registrant as specified in its
charter)

|NEVADA                                           | 98-0434381                          
|------------------------------------------------ | ------------------------------------
|(State of other jurisdiction of incorporation or | (IRS Employer Identification Number)
|organization)                                    |                                     

808 Nelson Street Suite 2103 Vancouver, British
ColumbiaCanada V6Z 2H2(Address of principal executive
offices)

(604) 684-7619(Registrant's telephone number,
including area code)

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

Indicate by check mark whether the registrant is a shell company
  (as defined in Rule 12b-2 of the Exchange Act). Yes []
  No [ x ]

State the number of shares outstanding of each of the issuers
classes of common equity, as of the latest practicable date: As at July 31,
2006 there were 3,250,000 common shares.

Transitional Small Business Disclosure Format (Check one): Yes
  []
  No [ x ]

---

PART I. FINANCIAL INFORMATION

ITEM 1. INTERIM FINANCIAL STATEMENTS

---

ELECTRUM MINING LIMITED

(An Exploration Stage Company)

INTERIM FINANCIAL STATEMENTS

JUNE 30, 2006

Expressed in US Funds

Unaudited

---

|Electrum Mining Limited        | Statement 1
|------------------------------ | -----------
|(An Exploration Stage Company) |            
|Interim Balance Sheet          |            
|Expressed in US Funds          |            

|                                                                     |   |               |   |   | As at         |  
|-------------------------------------------------------------------- | - | ------------- | - | - | ------------- | -
|                                                                     |   | As at         |   |   | September 30, |  
|                                                                     |   | June 30, 2006 |   |   | 2005          |  
|ASSETS                                                               |   | (Unaudited)   |   |   | (Audited)     |  
|Current                                                              |   |               |   |   |               |  
|Cash and cash equivalents                                            | $ | 11,078        |   | $ | 26,728        |  
|Prepaid expenses                                                     |   | -             |   |   | 1,708         |  
|                                                                     | $ | 11,078        |   | $ | 28,436        |  
|                                                                     |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|LIABILITIES                                                          |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|Current                                                              |   |               |   |   |               |  
|Accounts payable                                                     | $ | -             |   | $ | 2,573         |  
|Accrued liabilities                                                  |   | 2,500         |   |   | 5,000         |  
|Due to related party (Note 5)                                        |   | -             |   |   | 27,000        |  
|                                                                     |   | 2,500         |   |   | 34,573        |  
|                                                                     |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|Going Concern(Note 1)                                                |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|STOCKHOLDERS EQUITY (DEFICIENCY)                                    |   |               |   |   |               |  
|                                                                     |   |               |   |   |               |  
|Capital Stock(Note 4)                                                |   |               |   |   |               |  
|Authorized:                                                          |   |               |   |   |               |  
|100,000,000 common shares, $0.00001 par value                        |   |               |   |   |               |  
|Issued and outstanding shares:                                       |   |               |   |   |               |  
|3,250,000 common shares  Statement 3                                |   | 33            |   |   | 33            |  
|                                                                     |   |               |   |   |               |  
|Capital in excess of par
      value  Statement 3                   |   | 64,967        |   |   | 64,967        |  
|Comprehensive income  Statement
      3                             |   | 1,410         |   |   | 1,466         |  
|Deficit accumulated during
      the exploration stage  Statement 3 |   | (57,832       | ) |   | (72,603       | )
|Equity (Deficit) Statement 3                                        |   | 8,578         |   |   | (6,137        | )
|                                                                     | $ | 11,078        |   | $ | 28,436        |  

- See Accompanying Notes -

---

|Electrum Mining Limited          | Statement 2
|-------------------------------- | -----------
|(An Exploration Stage Company)   |            
|Interim Statements of Operations |            
|Expressed in US Funds            |            
|Unaudited                        |            

CumulativefromThree-month
      
      
      Nine-month
      
      
      Inceptionperiods ended
      
      
      periods ended
      
      
      (August 4,June 30
      
      
      June 30
      
      
      2004) toJune 30,2006
      
      
      2005
      
      
      2006
      
      
      2005
      
      
      2006ExpensesMineral property costs (recovery)
      $
      (26,717
      )
      $
      252
      
      $
      (25,353
      )
      $
      252
      
      $
      2,837(Note 3)Professional fees
      
      2,387
      
      
      2,223
      
      
      10,503
      
      
      33,192
      
      
      52,098Interest and bank charges
      
      (13
      )
      
      (31
      )
      
      (56
      )
      
      285
      
      
      241Office and supplies
      
      -
      
      
      245
      
      
      -
      
      
      426
      
      
      426Transfer agent fees
      
      50
      
      
      885
      
      
      135
      
      
      2,095
      
      
      2,230Foreign exchange loss (gain)
      
      -
      
      
      (306
      )
      
      -
      
      
      (355
      )
      
      -Earnings (Loss)
        for the period
      $
      24,293
      
      $
      (3,268
      )
      $
      14,771
      
      $
      (35,895
      )
      $
      (57,832
      )Basic and diluted earnings (loss)per share
      $
      0.01
      
      $
      (0.00
      )
      $
      0.00
      
      $
      (0.02
      )Weighted Average Number ofShares
        Outstanding
      
      3,250,000
      
      
      3,055,556
      
      
      3,250,000
      
      
      1,508,272


- See Accompanying Notes -

---

|Electrum Mining Limited                                       | Statement 3
|------------------------------------------------------------- | -----------
|(An Exploration Stage Company)                                |            
|Interim Statements of Stockholders Equity
      (Deficiency) |            
|Expressed in US Funds                                         |            
|Unaudited                                                     |            

|                      |  |               |  |   |        |  |   |             |  |   | Deficit       |   |   |        |   |   |         |  
|--------------------- |  | ------------- |  | - | ------ |  | - | ----------- |  | - | ------------- | - | - | ------ | - | - | ------- | -
|                      |  |               |  |   |        |  |   | Capital in  |  |   | Accumulated   |   |   |        |   |   |         |  
|                      |  |               |  |   |        |  |   | Excess of   |  |   | During the    |   |   |        |   |   |         |  
|                      |  | Common Shares |  |   | Par    |  |   | Exploration |  |   | Comprehensive |   |   |        |  
|                      |  | Shares        |  |   | Amount |  |   | Value       |  |   | Stage         |   |   | Income |   |   | Total   |  
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Inception  August 4, |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|2004                  |  | -             |  | $ | -      |  | $ | -           |  | $ | -             |   | $ | -      |   | $ | -       |  
|Common shares issued  |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|for cash at $0.02 per |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|share                 |  | 500,000       |  |   | 5      |  |   | 9,995       |  |   | -             |   |   | -      |   |   | 10,000  |  
|Loss for the period   |  | -             |  |   | -      |  |   | -           |  |   | (6,462        | ) |   | -      |   |   | (6,462  | )
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Balance              |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|September 30, 2004    |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|(audited)             |  | 500,000       |  |   | 5      |  |   | 9,995       |  |   | (6,462        | ) |   | -      |   |   | 3,538   |  
|Common shares issued  |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|for cash at $0.02 per |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|share                 |  | 2,750,000     |  |   | 28     |  |   | 54,972      |  |   | -             |   |   | -      |   |   | 55,000  |  
|Loss for the year     |  | -             |  |   | -      |  |   | -           |  |   | (66,141       | ) |   | -      |   |   | (66,141 | )
|Foreign currency      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|translation           |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|adjustment            |  | -             |  |   | -      |  |   | -           |  |   | -             |   |   | 1,466  |   |   | 1,466   |  
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Balance              |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|September 30, 2005    |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|(audited)             |  | 3,250,000     |  | $ | 33     |  | $ | 64,967      |  | $ | (72,603       | ) | $ | 1,466  |   | $ | (6,137  | )
|Loss for the period   |  | -             |  |   | -      |  |   | -           |  |   | (4,218        | ) |   | -      |   |   | (4,218  | )
|Foreign currency      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|translation           |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|adjustment            |  | -             |  |   | -      |  |   | -           |  |   | -             |   |   | 17     |   |   | 17      |  
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Balance              |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|December 31, 2005     |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|(unaudited)           |  | 3,250,000     |  | $ | 33     |  | $ | 64,967      |  | $ | (76,821       | ) | $ | 1,483  |   | $ | (10,338 | )
|Loss for the period   |  | -             |  |   | -      |  |   | -           |  |   | (5,304        | ) |   | -      |   |   | (5,304  | )
|Foreign currency      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|translation           |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|adjustment            |  | -             |  |   | -      |  |   | -           |  |   | -             |   |   | (50    | ) |   | (50     | )
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Balance              |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|March 31, 2006        |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|(unaudited)           |  | 3,250,000     |  | $ | 33     |  | $ | 64,967      |  | $ | (82,125       | ) | $ | 1,433  |   | $ | (15,692 | )
|Gain(Loss) for the    |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|period                |  | -             |  |   | -      |  |   | -           |  |   | 24,293        |   |   | -      |   |   | 24,293  |  
|Foreign currency      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|translation           |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|adjustment            |  | -             |  |   | -      |  |   | -           |  |   | -             |   |   | (23    | ) |   | (23     | )
|                      |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|Balance              |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|June 30, 2006         |  |               |  |   |        |  |   |             |  |   |               |   |   |        |   |   |         |  
|(unaudited)           |  | 3,250,000     |  | $ | 33     |  | $ | 64,967      |  | $ | (57,832       | ) | $ | 1,410  |   | $ | 8,578   |  

- See Accompanying Notes -

---

|Electrum Mining Limited          | Statement 4
|-------------------------------- | -----------
|(An Exploration Stage Company)   |            
|Interim Statements of Cash Flows |            
|Expressed in US Funds            |            
|Unaudited                        |            

|                                                               |   | Cumulative     |   |   |             |   |   |             |  
|-------------------------------------------------------------- | - | -------------- | - | - | ----------- | - | - | ----------- | -
|                                                               |   | from Inception |   |   |             |   |   |             |  
|                                                               |   | (August 4,     |   |   | Nine Months |   |   | Nine Months |  
|                                                               |   | 2004) to June  |   |   | Ended June  |   |   | Ended June  |  
|Cash Resources
      Provided By (Used In)                     |   | 30, 2006       |   |   | 30, 2005    |   |   | 30, 2006    |  
|Operating Activities                                           |   |                |   |   |             |   |   |             |  
|Gain (Loss) for the period                                     | $ | (57,832        | ) | $ | (35,895     | ) | $ | 14,771      |  
|Mineral property cost recovery
      (Note 3)                  |   | (27,000        | ) |   | -           |   |   | (27,000     | )
|Changes in operating assets and liabilities:                   |   |                |   |   |             |   |   |             |  
|Prepaid expenses                                               |   | -              |   |   | (7,908      | ) |   | 1,708       |  
|Funds held in trust                                            |   | -              |   |   | 15,000      |   |   | -           |  
|Accounts payable                                               |   | -              |   |   | -           |   |   | (2,573      | )
|Accrued liabilities                                            |   | 2,500          |   |   | (1,000      | ) |   | (2,500      | )
|                                                               |   | (82,332        | ) |   | (29,803     | ) |   | (15,594     | )
|                                                               |   |                |   |   |             |   |   |             |  
|Financing Activities                                           |   |                |   |   |             |   |   |             |  
|Advance from related party (Note 5)                            |   | 27,000         |   |   | -           |   |   | -           |  
|Issuance of capital stock                                      |   | 65,000         |   |   | 55,000      |   |   | -           |  
|                                                               |   | 92,000         |   |   | 55,000      |   |   | -           |  
|                                                               |   |                |   |   |             |   |   |             |  
|Foreign Currency Translation Adjustment                        |   | 1,410          |   |   | -           |   |   | (56         | )
|Net Increase in Cash and Cash Equivalents                      |   | 11,078         |   |   | 25,197      |   |   | (15,650     | )
|Cash and cash equivalents position 
      Beginning of period |   | -              |   |   | 18,038      |   |   | 26,728      |  
|Cash and Cash Equivalents Position  End of Period             | $ | 11,078         |   | $ | 42,235      |   | $ | 11,078      |  
|                                                               |   |                |   |   |             |   |   |             |  
|                                                               |   |                |   |   |             |   |   |             |  
|                                                               |   |                |   |   |             |   |   |             |  
|Supplemental Cash Flow Disclosure                              |   |                |   |   |             |   |   |             |  
|Cash paid for interest                                         | $ | -              |   | $ | -           |   | $ | -           |  
|Cash paid for income taxes                                     | $ | -              |   | $ | -           |   | $ | -           |  

- See Accompanying Notes -

---

|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|1. | Organization and Going Concern                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | The Company is a Nevada corporation incorporated
        on August 4, 2004 and is based in Vancouver, British Columbia, Canada.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | The Company is an exploration stage company
        that engages principally in the acquisition, exploration and development
        of mineral properties. During the prior fiscal period, the Company acquired
        a 100% interest in 20 mineral mining claims in the Dawson Mining Division
        of the Yukon Territories, Canada and has not yet determined whether this
        property contains reserves that are economically recoverable. This property
        has since been divested as of June 30, 2006 (Note 3). To date,
        the Companys activities have been limited to its formation and the
        raising of equity capital and exploration activities.                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | Going Concern and Liquidity Considerations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | The accompanying unaudited interim financial
        statements have been prepared assuming that the Company will continue
        as a going concern, which contemplates, among other things, the realization
        of assets and satisfaction of liabilities in the normal course of business.
        For the nine month period ended June 30, 2006, the Company had an accumulated
        deficit of $57,832. The Company intends to fund operations through equity
        financing arrangements, which may be insufficient to fund its capital
        expenditures, working capital and other cash requirements for the year
        ending September 30, 2006.
      The ability of the Company to emerge from the exploration
        stage is dependent upon, among other things, obtaining additional financing
        to continue operations.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | In response to these issues, management intends
        to raise additional funds through public or private placement offerings
        and participation in a merger agreement (Note 6).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | These factors, among others, raise substantial
        doubt about the Companys ability to continue as a going concern.
        The accompanying unaudited interim financial statements do not include
        any adjustments that might result from the outcome of this uncertainty.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|2. | Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

---

|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|2. | Significant Accounting Policies- Continued
|-- | ------------------------------------------
|   |                                           
|   | c)                                        
|   |                                           
|   |                                           
|   |                                           
|   | d)                                        
|   |                                           
|   |                                           
|   |                                           
|   | e)                                        
|   |                                           
|   |                                           
|   |                                           
|   | f)                                        
|   |                                           
|   |                                           
|   |                                           
|   |                                           

---

|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|2. | Significant Accounting Policies
        Continued
|-- | --------------------------------------------------
|   |                                                   
|   | g)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   | h)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   | i)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   | j)                                                
|   |                                                   
|   |                                                   

---

|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|2. | Significant Accounting Policies
        Continued
|-- | --------------------------------------------------
|   |                                                   
|   | k)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   | l)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   |                                                   
|   | m)                                                
|   |                                                   
|   |                                                   
|   |                                                   
|   | n)                                                
|   |                                                   
|   |                                                   

---

|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|2. | Significant Accounting Policies Continued
|-- | ------------------------------------------

| | o) | Stock-Based Compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |    | Effective January 1, 2006, the Company adopted the provisions
        of Statement of Financial Accounting Standards (SFAS) No.
        123(R), Share-Based Payment, which establishes accounting
        for equity instruments exchanged for employee services. Under the provisions
        of SFAS 123(R), stock-based compensation cost is measured at the grant
        date, based on the calculated fair value of the award, and is recognized
        as an expense over the employees requisite service period (generally
        the vesting period of the equity grant). Before January 1, 2006, the Company
        accounted for stock-based compensation to employees in accordance with
        Accounting Principles Board Opinion No. 25, Accounting for Stock
        Issued to Employees,and complied with the disclosure requirements
        of SFAS No. 123, Accounting for Stock-Based Compensation.
        The Company adopted FAS 123(R) using the modified prospective method,
        which requires the Company to record compensation expense over the vesting
        period for all awards granted after the date of adoption, and for the
        unvested portion of previously granted awards that remain outstanding
        at the date of adoption. Accordingly, financial statements for the periods
        prior to January 1, 2006 have not been restated to reflect the fair value
        method of expensing share-based compensation. Adoption of SFAS No. 123(R)
        does not change the way the Company accounts for share-based payments
        to non-employees, with guidance provided by SFAS 123 (as originally issued)
        and Emerging Issues Task Force Issue No. 96-18, Accounting for
        Equity Instruments That Are Issued to Other Than Employees for Acquiring,
        or in Conjunction with Selling, Goods or Services.
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | p) | Comprehensive Income (Loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |    | SFAS No. 130, Reporting Comprehensive Income,
        establishes standards for reporting and display of comprehensive income
        and its components in a full set of general-purpose financial statements.
        For the six month period ended March 31, 2006, the only item included
        in comprehensive income is the foreign currency translation adjustment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

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|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|3. | Mineral Property Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | By agreement dated September 30, 2004 with
        Xennex Development Corporation (Xennex), the Company acquired
        an option to earn a 100% interest in certain properties consisting of
        20 unpatented mineral claims, known as the Blue and Bell property (the
        Property) located in the Dawson Mining Division of the Yukon Territories,
        Canada.                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | Upon execution of the agreement, Xennex transferred
        100% interest in the mineral claims to a director and officer of the Company
        in trust for the Company for CDN$50,000 (CDN $10,000 paid).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | On June 29, 2006, the Board of Directors agreed
        to divest the Company of the mineral claims. All rights under the Mineral
        Claim Purchase Agreement were transferred and assigned to and assumed
        by the Companys President. Electrum will not be required to make
        any further payments to Xennex. Further, the President has agreed to assume
        any and all responsibilities, obligations, commitments and liabilities
        pertaining to the Mineral Property Agreement. In consideration of this,
        a $27,000 loan payable to a director of the Company was satisfied. This
        amount was applied as a reduction to the mineral property costs. Therefore,
        our statements reflect a one time gain on recovery of mineral property
        costs.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|4. | Capital Stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|5. | Due to Related Party                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | As of June 30, 2006, the Company was no longer
        obligated to a director and a stockholder, for a non- interest bearing
        demand loan (2005 - $27,000). During the period, the director agreed to
        cancel the $27,000 owing to him by the Company, in consideration of the
        cancellation of mining claims that were reverted back to the President.                                                                                                                                                                                                                                                                                                                                                                                                                                 

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|Electrum Mining Limited              
|-------------------------------------
|(An Exploration Stage Company)       
|Notes to Interim Financial Statements
|June 30, 2006                        
|Expressed in US Funds                
|Unaudited                            

|6. | Subsequent Events                                                                                                                                                                                                                                                                                                                                                                                               
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | On July 7, 2006, the Company entered into
        an Agreement and Plan of Merger with Crosspoint Energy, LLC (Crosspoint),
        a Texas limited liability company involved in the exploration and exploration
        of oil and gas properties. The merger agreement is subject to certain
        conditions, including                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | As part of this Merger transaction the Companys
        existing mining claims were turned back to the Companys President
        in consideration of the cancellation of $27,000 owed to an officer and
        director of the Company. As of signing this merger agreement the Secretary
        and Director resigned from the Company, thus, leaving the President the
        sole Officer and Director.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | This Merger may be terminated by either party
        if not completed within 120 days, from July 7, 2006.                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|7. | New Accounting Pronouncements                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Recent accounting pronouncements that are
        listed below did and/or are not currently expected to have a material
        effect on the Companys financial statements.                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | FASB Statements:                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                 

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ITEM 2. PLAN OF OPERATION

This report includes a number of forward looking statements that reflect our current views with respect to future events and financial performance. Forward looking statements are often identified by words like: believe,
expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward looking statements, which apply only as of the date of this
prospectus. These forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

The following discussion and analysis should be read in conjunction with our financial statements and notes thereto included elsewhere in this Form 10-QSB. Except for the historical information contained herein, the
discussion in this Form 10-QSB contains certain forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. The cautionary statements made in this Form 10-QSB should be
read as being applicable to all related forward-looking statements wherever they appear in this Form 10-QSB. The Company's actual results could differ materially from those discussed here.

Plan of Operation

We are a start-up, exploration stage corporation and have not yet generated or realized any revenues from our business operations.

Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay for our
expenses. This is because we have not generated any revenues and no revenues are anticipated until we begin exploiting our mineral properties. There is no assurance we will ever reach this point. Accordingly, we must raise sufficient capital from
sources. Our only other source for cash at this time is investments by others. We must raise cash to implement our project and stay in business. We raised $50,000 from our public offering. Under this offering we sold 2,500,000 shares at
$0.02 per share to 44 shareholders, thus we have a total of 3,250,000 shares issued and outstanding to 47 shareholders (includes the 3 directors of the company). We believe this, together with the loan from a director of $27,000, will enable
us to fund our activities for the next twelve months providing the company does not do any further exploration work on its property. As of June 30, 2006 we have cash on hand of $11,078.

We have used the above-mentioned funds to explore our resource property located at Squaw Creek, a tributary of Clear Creek, in the central Yukon Territories, Canada. After evaluating the results from the first
exploration program, the board of directors decided to drop the property. The property was returned to the vendors on June 29, 2006.

Electrum retained Aurora Geosciences Ltd., of Whitehorse, Yukon to perform exploration work on the property in 2005. Aurora has done work in the immediate area in previous years and is knowledgeable about local
conditions.

The initial offering produced sufficient funds to pay for the 2005 exploration program and administration costs for 12 months. However, if the Company requires additional funds, we will try to raise additional funds
from a second public offering, a private placement, and/or loans.

The work program started July 9, 2005 and was finished on July 23, 2005. The crew did not find any visible mineralization worthy of an early report. The geochemical samples were sent to ACME labs in Vancouver B.C. A
technical report has been received and is being evaluated. The work program ended up costing $24,932 CDN (approx. $20,018 USD).

---

To our knowledge, the property
has never been mined. The only event previous to our exploration program that
has occurred is the staking of the property at the direction of Mr. Robert S.
Adamson and a property examination and report by Professional Engineer Robert F.
McIntyre.

The exploration program for 2005
consisted of establishing a grid and taking soil samples at regular intervals. A
magnetic survey was done to try and locate mineralization, which is not evident
on surface. Geochemical sampling was concentrated in the areas of mineralization
identified by the magnetic survey. The soil samples were analyzed to determine
if elevated amounts of minerals are present. The results were plotted on a map
to determine where the elevated areas of mineralization occur. Competent
professionals did rock samples and geological mapping and prospecting. Based
upon the results of the exploration Mr. Scheving, president determined, in
consultation with our consultants and the other directors, that the property be
dropped. Mr. Scheving will not receive fees for his services.

The proceeds from our public
offering were designed only to fund the costs of an exploration program
recommended by Professional Engineer Mr. Robert McIntyre. Additional funding
would be required to take the property to a more advanced stage of exploration.

We do not intend to hire
additional employees at this time. Unaffiliated independent consultants were
hired to conduct all of the work on the property. The independent consultants
were responsible for surveying, geology, engineering, exploration, and
excavation. The geologists evaluated the information derived from the
exploration and excavation and the engineers will advise us on the economic
feasibility of removing the mineralized material. No commercial economic
minerals were found and the property was dropped.

Limited Operating History; Need for Additional
Capital

There is no historical financial
information about us upon which to base an evaluation of our performance. We are
an exploration stage corporation and have not generated any revenues from
operations. We cannot guarantee we will be successful in our business
operations. Our business is subject to risks inherent in the establishment of a
new business enterprise, including limited capital resources, possible delays in
the exploration of our properties, and possible cost overruns due to price and
cost increases in services.

We have no assurance that future
financing will be available to us on acceptable terms. If financing is not
available on satisfactory terms, we may be unable to continue, develop or expand
our operations. Equity financing could result in additional dilution to existing
shareholders.

Liquidity and Capital Resources

To meet our need for cash we
raised $50,000 from our public offering. We cannot guarantee that we have raised
enough money through the public offering to stay in business. The money we
raised was applied to the items set forth in the Use of Proceeds section of the
SB-2 filed with the SEC. We will attempt to raise additional money through a
subsequent private placement, public offering, and/or through debt
financing.

We acquired one property
containing 20 mineral claims on September 30, 2004. The exploration work program
began on July 9, 2005 and was finished on July 23, 2005. No visible
mineralization worthy of comment was discovered. Approximately 200 geochemical
samples have been sent to ACME Laboratories in Vancouver for analysis. The
property was dropped on June 29, 2006.

Since inception, we have issued
3,250,000 shares of our common stock and received $65,000.

---

We received a $27,000 loan from
Mr. Dedemus, one of our directors. Mr. Dedemus has agreed to cancel this loan
and the resulting credit has reduced the property expenditure.

As of the date of this filing, we
have yet to begin operations and therefore have not generated any revenues.

Since inception of the Company on
August 4, 2004 to March 31, 2006, the Company has issued 3,250,000 common shares
at $0.02 per share for total proceeds of $65,000. This was accounted for as an
acquisition of shares. Lloyd Dedemus covered our initial expenses of $15,000 for
incorporation and legal fees and $12,000 for a payment on the mineral property
and working capital.

As of June 30, 2006, our total
  assets were $11,078 and our total liabilities were $2,500.

Application of Critical Accounting Policies

Our financial statements have been
  prepared on a going concern basis. We have accumulated a deficit of $57,832
  from inception (August 4, 2004) to June 30, 2006. Our ability to continue as
  a going concern is dependent upon our ability to generate profitable operations
  in the future and/or to obtain the necessary financing to meet our obligations
  and repay our liabilities arising from normal business operations when they
  come due. The outcome of these matters cannot be predicted with any certainty
  at this time. We have historically satisfied our working capital needs primarily
  by sales of securities and a loans payable from an officer of the company. At
  June 30, 2006, we have working capital of $8,578. These financial statements
  do not include any adjustments to the amount and classification of assets and
  liabilities that may be necessary should we be unable to continue as a going
  concern.

ITEM 3. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Douglas W. Scheving, our Chief
Executive Officer and Chief Financial Officer has evaluated the effectiveness of
our disclosure controls and procedures (as such term is defined in Rules 13a-15
and 15d-15 under the Securities Exchange Act of 1934, as amended (the Exchange
Act)) as of the end of the period covered by this quarterly report (the
Evaluation Date). Based on such evaluation, he has concluded that, as of the
Evaluation Date, our disclosure controls and procedures are effective in
alerting us on a timely basis to material information required to be included in
our reports filed or submitted under the Exchange Act.

Changes in Internal Controls

There were no significant changes
in our internal controls or, to the Company's knowledge, in other factors that
could significantly affect the Company's disclosure controls and procedures
subsequent to the date the Company carried out this evaluation.

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On July 7, 2006 Electrum Mining Limited entered into an
Agreement and Plan of Merger (Merger Agreement) with Crosspoint Energy, LLC
(Crosspoint) Crosspoint Acquisition Company and Grove Crosspoint Investments
LLC, pursuant to which Crosspoint will merge into our wholly owned subsidiary,
Crosspoint Acquisition Company, the Merger. The Merger Agreement is subject to
certain conditions, including that the 3,250,000 shares of our common stock
outstanding shall be reduced via a reverse split of one for 2.379 shares into an
aggregate of 1,365,957 shares of common stock. Pursuant to the Merger Agreement,
we will issue to the Crosspoint equity holders, an aggregate of 21,400,000
shares of our common stock, which will amount, after the reverse stock split, to
94% of the total number of our shares of common stock, not counting options and
warrants outstanding upon effectiveness of the merger. On June

---

30, 2006 Crosspoint completed a $15,000,000 equity, institutional Private Placement (the Private Placement) pursuant to a Securities Purchase Agreement dated June 30, 2006 (SPA), to which we became a party on July 7,
2006. The SPA provides for the sale to the investors named therein. By becoming a signatory, we agreed, among other thing, to the representations, warranties, and covenants in the SPA, including provisions pertaining to the legend removal of shares
issued to the investors, timely filing of reports as required by the Securities Exchange Act of 1934, to indemnify the investors under certain circumstances, maintain the public listing of our stock, to allow the investors to participate in future
financings, restrictions on future equity sales, restrictions on capital changes and limitations on stock option plans. The securities issued by Crosspoint in the Private Placement are included in the 94% of our common stock to be outstanding upon
effectiveness of the merger. The Merger Agreement also includes customary representations, warranties, covenants and indemnifications by us covered by a pledge of a portion of the shares held by Grove Crosspoint Investments, LLC. Crosspoint has paid
$100,000 for our legal fees incurred in this transaction which Grove Crosspoint Investors, LLC, our largest shareholder has agreed to reimburse Crosspoint if the Merger is terminated due to a violation of our representations, warranties and
covenants in the Merger Agreement. The Merger may be terminated by either party if not completed within 120 days of July 7, 2006. As part of the Merger transaction our existing mining claims were turned back to Douglas Scheving (our President and
Director) in consideration of the cancellation of $27,000 owned by us to Lloyd Dedemus (one of our Directors). Our Board of Directors approved the Merger on June 29, 2006. Although the Merger is subject to shareholder approval, Grove Crosspoint
Investments, LLC who owns more than a majority of our stock has advised us that it will consent to the Merger. Upon effectiveness of the Merger our remaining Director, Douglas Scheving will resign and appoint his successors from the persons selected
by Crosspoint.

Concurrent with the signing of the Merger Agreement we also agreed to the provisions of a Registration Rights Agreement dated July 7, 2006, (the Registration Rights Agreement) with the investors in the
Private Placement to register the shares issuable to such investors in the Merger, which are included in the 21,400,000 shares to be issued to the Crosspoint equity holders, plus 2,500,000 shares of our common stock underlying five year warrants to
purchase the securities issued to the investors in the Private Placement, at an exercise price of $1.95 per share (the Warrants). Under the Registration Rights Agreement we are required to register the shares of our common stock
issuable to the investors in the Merger and the shares underlying the Warrants (collectively Shares) within 30 calendar days of the effectiveness of the Merger and to procure the effectiveness of registration of the Shares within 90 days
of the effectiveness of the Merger and we agreed to certain piggyback registration rights, subject to certain penalties for failure to file the registration statement timely or to procure the effectiveness of the registration statement timely of 2%
of the investment amount, per month.

The foregoing summary is qualified in its entirety by reference to the agreements, which are attached hereto and incorporated herein by reference.

DEPARTURE OF DIRECTOR.

Effective July 7, 2006, Lloyd Dedemus, our Director and former
  Secretary resigned as Director and Officer. There was no disagreement with Mr.
  Dedemus as to any of our policies, operations or practices.

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PART II - OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

On December 13, 2004, our public
offering was declared effective by the SEC (SEC file no. 333-120788). We have
raised $50,000 by selling 2,500,000 shares of our common stock at $0.02 per
share, to 44 shareholders. This offering was closed by the Company on March 16,
2005. There was no underwriter involved in our public offering.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

|(a) | The following Exhibits are attached
  hereto:
|--- | ---------------------------------------------

| | Exhibit | Document Description
| | ------- | --------------------
| | No.     |                     

| | 31.1 | Certification of Principal Executive
        Officer and Principal Financial Officer pursuant to Rule 13a-15(a) and
        Rule 15d-15(a), promulgated under the Securities Exchange Act of 1934,
        as amended.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                       
| | 32.1 | Certification of Chief Executive
        Officer and Chief Financial Officer Pursuant To 18 U.S.C. Section 1350,
        as adopted pursuant to Section 302 Of The Sarbanes-Oxley Act of 2002.                        

|(b) | Reports on Form 8-K                                                                                                                                                        
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                            
|    | The Company filed no reports on Form 8-K during the
      six-month period ended June 30, 2006.
      An 8K was filed on July 13, 2006 regarding the merger
      Agreement

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SIGNATURES

In accordance with the
requirements of the Exchange Act, the registrant caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized on this
14th day of August, 2006.

| | ELECTRUM MINING LIMITED
| | -----------------------
| | (Registrant)           
| |                        
| | BY:                    
| |                        
| |                        
| |                        
| |                        
| |                        

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