----

| Large accelerated filer | o | Accelerated filer         | o |
|-------------------------|---|---------------------------|---|
| Non-accelerated filer   | o | Smaller reporting company | x |

----

Table of Contents

Table of Contents

|                          | Page                                                                                                |
|-------------------------------|-----------------------------------------------------------------------------------------------------|
| PART I. Financial Information |                                                                                                |
|                          |                                                                                                |
|                          | Item 1. Financial Statements.                                                                       |   |
|                          |                                                                                                |   |
|                          |                                                                                                | Consolidated Balance Sheets at November 30, 2008 (unaudited) and August 31, 2008 (audited) | 1 |
|                          |                                                                                                |   |   |
|                          |                                                                                                | Restated Unaudited Consolidated Statements of Operations for the three month periods ended November 30, 2008 and November 30, 2007 and the Exploration Stage Period of August 15, 2006 to November 30, 2008 | 2 |
|                          |                                                                                                |   |   |
|                          |                                                                                                | Restated Unaudited Consolidated Statements of Cash Flows for the three month periods ended November 30, 2008 and November 30, 2007 and the Exploration Stage Period of August 15, 2006 to November 30, 2008 | 3 |
|                          |                                                                                                |   |   |
|                          |                                                                                                | Unaudited Consolidated Supplemental Disclosure of Non-cash Investing and Financing Activities for the three month periods ended November 30, 2008 and November 30, 2007 and the Exploration Stage Period of August 15, 2006 to November 30, 2008 | 4 |
|                          |                                                                                                |   |   |
|                          |                                                                                                | Notes to Consolidated Unaudited Financial Statements | 5 |
|                          |                                                                                                |   |   |
|                          | Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 8 |
|                          |                                                                                                |   |
|                          | Item 3. Quantitative and Qualitative Disclosures about Market Risk                                  | 11 |
|                          |                                                                                                |   |
|                          | Item 4. Controls and Procedures                                                                     | 11 |
|                          |                                                                                                |   |
| PART II. Other Information    | 13                                                                                                  |
|                          |                                                                                                |
|                          | Item 1. Legal Proceedings                                                                           | 13 |
|                          |                                                                                                |   |
|                          | Item 1A. Risk Factors                                                                               | 13 |
|                          |                                                                                                |   |
|                          | Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                 | 17 |
|                          |                                                                                                |   |
|                          | Item 3. Defaults Upon Senior Securities                                                             | 17 |
|                          |                                                                                                |   |
|                          | Item 4. Submission of Matters to a Vote of Security Holders                                         | 17 |
|                          |                                                                                                |   |
|                          | Item 5. Other Information                                                                           | 17 |
|                          |                                                                                                |   |
|                          | Item 6. Exhibits                                                                                    | 17 |
|                          |                                                                                                |   |
| Signatures                    | 18                                                                                                  |

----

Table of Contents

PART I – FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (unaudited)

Consolidated Balance Sheets

|                                                                                 |   | November 30, 2008(Unaudited) |        |   | August 31,2008(Note 1) |   |
|--------------------------------------------------------------------------------------|--------|------------------------------|-------------|--------|------------------------|--------|
| ASSETS                                                                               |   |                         |        |   |                   |   |
|                                                                                 |   |                         |        |   |                   |   |
| CURRENT ASSETS                                                                       |   |                         |        |   |                   |   |
| Cash                                                                                 |   | $                            | 21          |   |                   | $      | 4,423 |   |
|     Prepaid expenses                                             |   |                         | 3,856       |   |                   |   | 4,322 |   |
| Total current assets                                                                 |   |                         | 3,877       |   |                   |   | 8,745 |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| Total assets                                                                         |   | $                            | 3,877       |   |                   | $      | 8,745 |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ (DEFICIT)                                        |   |                         |        |   |                   |   |   |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| CURRENT LIABILITIES                                                                  |   |                         |        |   |                   |   |   |   |
| Accounts payable                                                                     |   |                         | 41,768      |   |                   |   | 3,675 |   |
| Accrued liabilities                                                                  |   |                         | -           |   |                   |   | 10,750 |   |
| Note payable (Note 3)                                                                |   |                         | 24,226      |   |                   |   | 23,925 |   |
| Shareholder loans (Note 3 and 4)                                                     |   |                         | 200,712     |   |                   |   | 194,243 |   |
| Total current liabilities                                                            |   | $                            | 266,706     |   |                   | $      | 232,593 |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| Total liabilities                                                                    |   | $                            | 266,706     |   |                   | $      | 232,593 |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| COMMITMENTS AND CONTINGENCIES                                                        |   |                         | -           |   |                   |   | - |   |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| STOCKHOLDERS’ EQUITY (DEFICIT)                                                 |   |                         |        |   |                   |   |   |   |
| Common shares, 100,000,000 shares par value $0.001 authorized, 38,775,000outstanding |   |                         | 38,775      |   |                   |   | 38,775 |   |
| Paid-in Capital                                                                      |   |                         | 22,984,342  |   |                   |   | 22,984,342 |   |
| Accumulated deficit in the exploration stage                                         |   |                         | (23,058,284 | )      |                   |   | (23,032,337 | ) |
| Accumulated deficit                                                                  |   |                         | (215,105    | )      |                   |   | (215,105 | ) |
| Accumulated other comprehensive income (loss)                                        |   |                         | (12,557     | )      |                   |   | 477 |   |
| Total stockholders’ (deficit)                                                  |   |                         | (262,829    | )      |                   |   | (223,848 | ) |
|                                                                                 |   |                         |        |   |                   |   |   |   |
| Total liabilities and stockholders’ equity                                     |   | $                            | 3,877       |   |                   | $      | 8,745 |   |

----

Table of Contents

Consolidated Statements of Operations

|                                                                            |   | Three Months endedNovember 30, 2008 |       |   | RestatedThree Months endedNovember 30, 2007 |   |       | RestatedExploration Stage August 15, 2006 through November 30, 2008 |   |
|---------------------------------------------------------------------------------|--------|-------------------------------------|------------|--------|---------------------------------------------|--------|------------|-------------------------------------------------------------------------------|--------|
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |
| EXPENSES:                                                                       |   |                                |       |   |                                        |   |       |                                                                          |   |
| Exploration licenses                                                            |   | $                                   | -          |   |                                        | $      | 800,000    |                                                                          |   | $ | 13,372,593 |   |
| Exploration expenses                                                            |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | 50,215 |   |
| Agent fees                                                                      |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | 1,852,500 |   |
| Professional and consultant fees                                                |   |                                | 29,002     |   |                                        |   | 61,305     |                                                                          |   |   | 481,457 |   |
| Stock-based compensation – officers and directors                         |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | 6,975,491 |   |
| Investor  relations                                                   |   |                                | -          |   |                                        |   | 57,708     |                                                                          |   |   | 134,939 |   |
| Administrative expenses                                                         |   |                                | 7,189      |   |                                        |   | 16,494     |                                                                          |   |   | 181,224 |   |
| Total expenses                                                                  |   | $                                   | 36,191     |   |                                        | $      | 935,507    |                                                                          |   | $ | 23,048,491 |   |
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| Net loss from operations                                                        |   | $                                   | (36,191    | )      |                                        | $      | (935,507   | )                                                                             |   | $ | (23,048,419 | ) |
| Interest expense                                                                |   |                                | (2,731     | )      |                                        |   | (2,399     | )                                                                             |   |   | (22,840 | ) |
| Net Income (Loss) from continuing operations:                                   |   |                                | (38,922    | )      |                                        |   | (937,906   | )                                                                             |   |   | (23,071,259 | ) |
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| Net loss from discontinued operations :                                         |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| – terminated subsidiary                                                   |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | (68,995 | ) |
| – change from Development to Exploration Stage                            |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | (146,110 | ) |
| Net loss from discontinued operations                                           |   |                                | -          |   |                                        |   | -          |                                                                          |   |   | (215,105 | ) |
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| Net Income (Loss)                                                               |   | $                                   | (38,922    | )      |                                        | $      | (937,906   | )                                                                             |   | $ | (23,286,364 | ) |
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| Loss per common share, basic and diluted from discontinued operations:          |   | $                                   | n/a        |   |                                        | $      | n/a        |                                                                          |   |   |   |   |
| Earnings (Loss) per common share, basic and diluted from continuing operations: |   | $                                   | Nil        |   |                                        | $      | (0.02      | )                                                                             |   |   |   |   |
| Weighted average shares outstanding , basic and diluted                         |   |                                | 38,775,000 |   |                                        |   | 38,275,000 |                                                                          |   |   |   |   |
|                                                                            |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| OTHER COMPREHENSIVE INCOME (LOSS):                                              |   |                                |       |   |                                        |   |       |                                                                          |   |   |   |   |
| Net Income (Loss)                                                               |   | $                                   | (38,922    | )      |                                        | $      | (937,906   | )                                                                             |   | $ | (23,286,364 | ) |
| Foreign currency translation adjustment                                         |   |                                | (60        | )      |                                        |   | 13,030     |                                                                          |   |   | 417 |   |
| Total other comprehensive income (loss)                                         |   | $                                   | (38,982    | )      |                                        | $      | (924,876   | )                                                                             |   | $ | (23,285,947 | ) |

----

Table of Contents

Consolidated Statements of Cash Flows

|                                                                                   |   | Three Months endedNovember 30, 2008 |    |   | RestatedThree Months endedNovember 30, 2007 |   |      | RestatedExploration StageAugust 15, 2006 throughNovember 30, 2008 |   |
|----------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|---------------------------------------------|--------|-----------|-------------------------------------------------------------------|--------|
| Cash flows from operating activities:                                                  |   |                                |    |   |                                        |   |      |                                                              |   |
| Net Income (Loss) for period                                                           |   | $                                   | (38,922 | )      |                                        | $      | (937,906  | )                                                                 |   | $ | (23,286,364 | ) |
| Reconciling adjustments:                                                               |   |                                |    |   |                                        |   |      |                                                              |   |   |   |   |
|   Adjustments to reconcile net loss to net cash used in operating activities:     |   |                                |    |   |                                        |   |      |                                                              |   |   |   |   |
| Accrued interest on shareholder loans                                                  |   |                                | 2,429   |   |                                        |   | 2,399     |                                                              |   |   | 22,210 |   |
| Accrued interest on Note payable                                                       |   |                                | 302     |   |                                        |   | -         |                                                              |   |   | 630 |   |
| Common stock issued for compensation                                                   |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 1,150,000 |   |
| Additional Paid-In Capital relating to Options – compensation expense            |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 5,825,491 |   |
| Common stock issued for license fee payments                                           |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 7,050,000 |   |
| Common stock issued for agent fee payments                                             |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 1,762,500 |   |
| Accrued interest on shareholder loans related to discontinued operations               |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 8,761 |   |
| Depreciation related to discontinued operations                                        |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 318 |   |
| Common stock issued for shareholder debt conversion related to discontinued operations |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 10,000 |   |
| Net change in operating assets and liabilities:                                        |   |                                |    |   |                                        |   |      |                                                              |   |   |   |   |
| Subscription receivable                                                                |   |                                | -       |   |                                        |   | 1,000,000 |                                                              |   |   | - |   |
| Prepaid expenses                                                                       |   |                                | 466     |   |                                        |   | (17,305   | )                                                                 |   |   | (3,599 | ) |
| Accounts payable and accrued  liabilities                                    |   |                                | 27,343  |   |                                        |   | (171,940  | )                                                                 |   |   | 41,768 |   |
| Prepaid expenses related to discontinued operations                                    |   |                                | -       |   |                                        |   | -         |                                                              |   |   | 9,500 |   |
| Accounts payable and accrued  liabilities related to discontinued operations |   |                                | -       |   |                                        |   | -         |                                                              |   |   | (9,220 | ) |
| Net cash provided (used) by operating activities                                       |   |                                | (8,382  | )      |                                        |   | (124,752  | )                                                                 |   |   | (7,418,005 | ) |
|                                                                                   |   |                                |    |   |                                        |   |      |                                                              |   |   |   |   |
| Cash flows from investing activities:                                                  |   |                                |    |   |                                        |   |      |                                                              |   |   |   |   |
| Purchase (sale) of property and equipment related to discontinued operations           |   |                                | -       |   |                                        |   | -         |                                                              |   |   | (318 | ) |
| Net Cash provided (used) by investing activities                                       |   |                                | -       |   |                                        |   | -         |                                                              |   |   | (318 | ) |

----

Table of Contents

|                                                            |   | Three Months endedNovember 30, 2008 |   |   | RestatedThree Months endedNovember 30, 2007 |   |     | RestatedExploration StageAugust 15, 2006 throughNovember 30, 2008 |   |
|-----------------------------------------------------------------|--------|-------------------------------------|--------|--------|---------------------------------------------|--------|----------|-------------------------------------------------------------------|--------|
| (continued)                                                     |   |                                |   |   |                                        |   |     |                                                              |   |
| Cash flows from financing activities:                           |   |                                |   |   |                                        |   |     |                                                              |   |
| Common stock issued for cash                                    |   |                                | -      |   |                                        |   | -        |                                                              |   |   | 7,193,860 |   |
| Loans by stockholders                                           |   |                                | 4,040  |   |                                        |   | (52,937  | )                                                                 |   |   | 16,700 |   |
| Note payable                                                    |   |                                | -      |   |                                        |   | -        |                                                              |   |   | 23,597 |   |
| Common stock issued for cash related to discontinued operations |   |                                | -      |   |                                        |   | -        |                                                              |   |   | 31,266 |   |
| Shareholder loans related to discontinued operations            |   |                                | -      |   |                                        |   | -        |                                                              |   |   | 152,689 |   |
| Net cash provided by financing activities                       |   |                                | 4,040  |   |                                        |   | (52,937  | )                                                                 |   |   | 7,418,112 |   |
|                                                            |   |                                |   |   |                                        |   |     |                                                              |   |   |   |   |
| Effect of foreign currency translation                          |   |                                | (60    | )      |                                        |   | 13,030   |                                                              |   |   | 160 |   |
|                                                            |   |                                |   |   |                                        |   |     |                                                              |   |   |   |   |
| Net increase (decrease) in cash                                 |   |                                | (4,402 | )      |                                        |   | (164,659 | )                                                                 |   |   | (51 | ) |
|                                                            |   |                                |   |   |                                        |   |     |                                                              |   |   |   |   |
| Cash, beginning of period                                       |   |                                | 4,423  |   |                                        |   | 326,381  |                                                              |   |   | 72 |   |
|                                                            |   |                                |   |   |                                        |   |     |                                                              |   |   |   |   |
| Cash, end of period                                             |   | $                                   | 21     |   |                                        | $      | 161,722  |                                                              |   | $ | 21 |   |

|                                                                               |   | Three Months endedNovember 30, 2008 |   |   | Three Months endedNovember 30, 2007 |   |   | RestatedExploration StageAugust 15, 2006 throughAugust 31, 2008 |   |
|------------------------------------------------------------------------------------|--------|-------------------------------------|--------|--------|-------------------------------------|--------|--------|-----------------------------------------------------------------|--------|
|                                                                               |   |                                |   |   |                                |   |   |                                                            |   |
| Common stock issued for compensation                                               |   |                                | -      |   |                                |   | -      |                                                            |   |   | 1,150,000 |   |
| Additional Paid-In Capital relating to Options                                     |   |                                | -      |   |                                |   | -      |                                                            |   |   | 5,825,491 |   |
| Common stock issued for license fee payments                                       |   |                                | -      |   |                                |   | -      |                                                            |   |   | 7,050,000 |   |
| Common stock issued for agent fee payments                                         |   |                                | -      |   |                                |   | -      |                                                            |   |   | 1,762,500 |   |
| Common stock issued shareholder debt conversion related to discontinued operations |   |                                | -      |   |                                |   | -      |                                                            |   |   | (10,000 | ) |

----

Table of Contents

Notes to Consolidated Financial Statements

----

Table of Contents

----

Table of Contents

| Three months ended November 30, 2007                                |   | Originally Reported |     |   | Adjustments |   |     | Restated |   |
|---------------------------------------------------------------------|--------|---------------------|----------|--------|-------------|--------|----------|----------|--------|
|                                                                |   |                |     |   |        |   |     |     |   |
| Exploration licenses                                                |   | $                   | 8,001    |   |        | $      | 791,999  |     |   | $ | 800,000 |   |
| Total expenses                                                      |   |                | 143,508  |   |        |   | 791,999  |     |   |   | 935,507 |   |
| Net loss from operations                                            |   |                | (143,508 | )      |        |   | (791,999 | )        |   |   | (935,507 | ) |
| Net loss from continuing operations                                 |   |                | (145,907 | )      |        |   | (791,999 | )        |   |   | (937,906 | ) |
| Net Loss                                                            |   |                | (145,907 | )      |        |   | (791,999 | )        |   |   | (937,906 | ) |
| Loss per common share, basic and diluted from continuing operations |   | Nil                 |     |   |        | (0.02  | )        |     |   | (0.02 | ) |
| OTHER COMPREHENSIVE LOSS:                                           |   |                |     |   |        |   |     |     |   |   |   |   |
| Net Loss                                                            |   |                | (145,907 | )      |        |   | (791,999 | )        |   |   | (937,906 | ) |
| Total other comprehensive (loss)                                    |   |                | (132,877 | )      |        |   | (791,999 | )        |   |   | (924,876 | ) |

| Exploration Stage August 15, 2006through November 30, 2008 |   | Originally Reported |        |   | Adjustments |   |       | Restated |   |
|------------------------------------------------------------|--------|---------------------|-------------|--------|-------------|--------|------------|----------|--------|
|                                                       |   |                |        |   |        |   |       |     |   |
| Exploration licenses                                       |   | $                   | 23,052,000  |   |        | $      | (9,679,407 | )        |   | $ | 13,372,593 |   |
| Total expenses                                             |   |                | 32,727,826  |   |        |   | (9,679,407 | )        |   |   | 23,048,491 |   |
| Net loss from operations                                   |   |                | (32,727,826 | )      |        |   | 9,679,407  |     |   |   | (23,048,419 | ) |
| Cancelation of debt relating to commitments                |   |                | 9,679,407   |   |        |   | (9,679,407 | )        |   |   | n/a |   |

| Three months ended November 30, 2007 |   | Originally Reported |     |   | Adjustments |   |     | Restated |   |
|--------------------------------------|--------|---------------------|----------|--------|-------------|--------|----------|----------|--------|
|                                 |   |                |     |   |        |   |     |     |   |
| Net Income (Loss) for period         |   | $                   | (145,907 | )      |        | $      | (791,999 | )        |   | $ | (937,906 | ) |
| Commitments payable                  |   |                | (791,999 | )      |        |   | 791,999  |     |   |   | n/a |   |

| Exploration StageAugust 15, 2006 through November 30, 2008                      |   | Originally Reported |   |   | Adjustments |   |   | Reformatted |   |
|---------------------------------------------------------------------------------|--------|---------------------|--------|--------|-------------|--------|--------|-------------|--------|
|                                                                            |   |                |   |   |        |   |   |        |   |
| Cash flows from operating activities:                                           |   |                |   |   |        |   |   |        |   |
| Adjustments to reconcile net loss to net cash used in operating activities:     |   |                |   |   |        |   |   |        |   |
| Accrued interest on shareholder loans related to discontinued operations        |   |                | n/a    |   |        |   | 8,761  |        |   |   | 8,761 |   |
| Depreciation related to discontinued operations                                 |   |                | n/a    |   |        |   | 318    |        |   |   | 318 |   |
| Common stock issued for debt conversion related to discontinued operations |   |                | n/a    |   |        |   | 10,000 |        |   |   | 10,000 |   |
| Net change in operating assets and liabilities:                                 |   |                |   |   |        |   |   |        |   |   |   |   |
| Prepaid expenses related to discontinued operations                             |   |                | n/a    |   |        |   | 9,500  |        |   |   | 9,500 |   |
| Accounts payable and accrued liabilities related to discontinued operations     |   |                | n/a    |   |        |   | (9,220 | )           |   |   | (9,220 | ) |
| (continued)                                                                     |   |                |   |   |        |   |   |        |   |   |   |   |

----

Table of Contents

| Exploration StageAugust 15, 2006 through November 30, 2008                                     |   | Originally Reported |       |   | Adjustments |   |       | Reformatted |   |
|------------------------------------------------------------------------------------------------|--------|---------------------|------------|--------|-------------|--------|------------|-------------|--------|
| (continued)                                                                                    |   |                |       |   |        |   |       |        |   |
| Net cash provided (used) by operating activities                                               |   |                | (7,437,364 | )      |        |   | 19,359     |        |   |   | (7,418,005 | ) |
|                                                                                           |   |                |       |   |        |   |       |        |   |   |   |   |
| Cash flows from discontinued operations:                                                       |   |                |       |   |        |   |       |        |   |   |   |   |
| Net cash provided (used) by discontinued operating activities:                                 |   |                |       |   |        |   |       |        |   |   |   |   |
| Net loss from terminated subsidiary                                                            |   |                | (68,995    | )      |        |   | 68,995     |        |   |   | - |   |
| Net loss from Development Stage period                                                         |   |                | (146,110   | )      |        |   | 146,110    |        |   |   | - |   |
| Accrued interest on shareholder loans                                                          |   |                | 8,761      |   |        |   | (8,761     | )           |   |   | - |   |
| Depreciation                                                                                   |   |                | 318        |   |        |   | (318       | )           |   |   | - |   |
| Prepaid expenses                                                                               |   |                | 9,500      |   |        |   | (9,500     | )           |   |   | - |   |
| Accounts payable and accrued liabilities                                                       |   |                | (9,220     | )      |        |   | 9,220      |        |   |   | - |   |
| Stock issued for shareholder debt conversion                                                   |   |                | 10,000     |   |        |   | (10,000    | )           |   |   | - |   |
| Sub-total                                                                                      |   |                | (195,746   | )      |        |   | 195,746    |        |   |   | - |   |
|                                                                                           |   |                |       |   |        |   |       |        |   |   |   |   |
| Cash flows from investing activities:                                                          |   |                |       |   |        |   |       |        |   |   |   |   |
| Purchase (sale) of property and equipment related to discontinued operations                   |   |                | n/a        |   |        |   | (318       | )           |   |   | (318 | ) |
| Net cash provided (used) by investing activities                                               |   |                | n/a        |   |        |   | (318       | )           |   |   | (318 | ) |
|                                                                                           |   |                |       |   |        |   |       |        |   |   |   |   |
| Net Cash provided by discontinued operations financing activities:                             |   |                |       |   |        |   |       |        |   |   |   |   |
| Common stock issued for cash                                                                   |   |                | 31,266     |   |        |   | (31,266    | )           |   |   | - |   |
| Shareholder loans related to discontinued operations                                           |   |                | 152,689    |   |        |   | (152,689   | )           |   |   | - |   |
| Sub-total                                                                                      |   |                | 183,955    |   |        |   | (183,955   | )           |   |   | - |   |
| Net cash provided (used) by discontinued operations:                                           |   |                | (12,109    | )      |        |   | 12,109     |        |   |   | - |   |
| Adjustment for Net loss from terminated subsidiary                                             |   |                | 68,995     |   |        |   | (68,995    | )           |   |   | - |   |
| Adjustment for Net loss from Development Stage period                                          |   |                | 146,110    |   |        |   | (146,110   | )           |   |   | - |   |
| Net adjustments                                                                                |   |                | 215,105    |   |        |   | (215,105   | )           |   |   | - |   |
|                                                                                           |   |                |       |   |        |   |       |        |   |   |   |   |
| Cash flows from financing activities:                                                          |   |                |       |   |        |   |       |        |   |   |   |   |
| Common stock issued for compensation                                                           |   |                | 1,150,000  |   |        |   | (1,150,000 | )           |   |   | n/a |   |
| Common stock issued for cash related to discontinued operations                                |   |                | n/a        |   |        |   | 31,266     |        |   |   | 31,266 |   |
|        Shareholder loans related to discontinued operations |   |                | n/a        |   |        |   | 152,689    |        |   |   | 152,689 |   |
| Net cash provided by financing activities                                                      |   |                | 7,234,157  |   |        |   | 183,955    |        |   |   | 7,418,112 |   |

| Exploration StageAugust 15, 2006 through November 30, 2008                         |   | Originally Reported |   |   | Adjustments |   |   | Reformatted |   |
|------------------------------------------------------------------------------------|--------|---------------------|--------|--------|-------------|--------|--------|-------------|--------|
|                                                                               |   |                |   |   |        |   |   |        |   |
| Common stock issued shareholder debt conversion related to discontinued operations |   |                | -      |   |        |   | 10,000 |        |   |   | 10,000 |   |

----

Table of Contents

ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

----

Table of Contents

----

Table of Contents

----

Table of Contents

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 4.  CONTROLS AND PROCEDURES

----

Table of Contents

----

Table of Contents

PART II – OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

ITEM 1A.  RISK FACTORS

----

Table of Contents

----

Table of Contents

----

Table of Contents

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

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

|   | § | Ongoing costs of production; |
|--------|--------|------------------------------|

|   | § | Market prices for the precious metals to be produced; |
|--------|--------|-------------------------------------------------------|

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

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

----

Table of Contents

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

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

ITEM 5.  OTHER INFORMATION

| Number | Exhibit Description                                                                                                                                                                                     |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                    |
| 31.1   | Certificate of President (chief executive officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                             |
|   |                                                                                                                                                                                                    |
| 31.2   | Certificate of Chief Financial Officer (principal financial officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                           |
|   |                                                                                                                                                                                                    |
| 32.1   | Certificate of President (chief executive officer) and Treasurer (principal financial officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

----

Table of Contents

SIGNATURES

----