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

                                   FORM 10-QSB

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


                      For the Period ended January 31, 2007

                        Commission File Number 333-139915


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


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


                              102-5212 48th Street
                        Red Deer, Alberta, Canada T4N 7C3
                                  (403)770-8095
          (Address and telephone number of principal executive offices)

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

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

There were 6,525,000 shares of Common Stock outstanding as of January 31, 2007.
<PAGE>
MADRONA VENTURES INC.
(An Exploration Stage Company)
BALANCE SHEETS
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                January 31,         July 31,
                                                                   2007               2006
                                                                 --------           --------
                                                                (Unaudited)         (Audited)
                                                                  - $ -              - $ -
                                                               <C>                <C>
ASSETS

Current assets
  Cash                                                             14,403             30,822
                                                                 ========           ========

LIABILITIES

Current liabilities
  Accounts payable and accrued liabilities                             --              7,447
                                                                 --------           --------
STOCKHOLDERS' EQUITY

Common stock (Note 3)
  Authorized:
    75,000,000 common shares with a par value of $0.001
  Issued and outstanding:
    6,525,000 common shares (July 2006: 6,525,000)                  6,525              6,525
  Additional paid in capital                                       48,975             48,975
  Deficit accumulated during the exploration stage                (41,097)           (32,125)
                                                                 --------           --------

                                                                   14,403             23,375
                                                                 --------           --------

                                                                   14,403             30,822
                                                                 ========           ========
</TABLE>


                           - See Accompanying Notes -

                                       2
<PAGE>
MADRONA VENTURES INC.
(An Exploration Stage Company)
Statements of Operations
(Unaudited)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                            Cumulative from
                               Three months    Three months    Six months     Six months     June 21, 2005
                                  ended           ended          ended          ended       (Inception) to
                                January 31,     January 31,    January 31,    January 31,     January 31,
                                   2007            2006           2007           2006            2007
                                 ---------       ---------      ---------      ---------       ---------
                                   - $ -           - $ -          - $ -          - $ -           - $ -
<S>                              <C>             <C>           <C>             <C>            <C>
Expenses
  General and administrative           609              18          8,972             33           9,528
  Mineral interests                     --              --             --             --          31,569
                                 ---------       ---------      ---------      ---------       ---------

Net loss                               609              18          8,972             33          41,097
                                 =========       =========      =========      =========       =========

Basic and diluted net loss
 per share                           (0.00)          (0.00)         (0.00)         (0.00)
                                 =========       =========      =========      =========
Weighted average number of
 shares outstanding              6,525,000       2,003,219      6,525,000      2,003,219
                                 =========       =========      =========      =========
</TABLE>


                           - See Accompanying Notes -

                                       3
<PAGE>
MADRONA VENTURES INC.
(An Exploration Stage Company)
Statements of Cash Flows
(Unaudited)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                         Cumulative from
                                                     Six months         Six months        June 21, 2005
                                                       ended              ended          (Inception) to
                                                     January 31,        January 31,        January 31,
                                                        2007               2006               2007
                                                      --------           --------           --------
                                                       - $ -              - $ -              - $ -
<S>                                                  <C>                   <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                              (8,972)               (33)           (41,097)
  Changes in non-cash working capital items:
    Accounts payable and accrued liabilities            (7,447)                --                 --
                                                      --------           --------           --------

Net cash used in operations                            (16,419)               (33)           (41,097)
                                                      --------           --------           --------

CASH FLOWS FROM FINANCING ACTIVITIES
  Shares issued for cash                                    --                100             55,500
                                                      --------           --------           --------

Net cash provided by financing activities                   --                100             55,500
                                                      --------           --------           --------

NET INCREASE (DECREASE) IN CASH                        (16,419)                67             14,403

CASH, BEGINNING                                         30,822                 --                 --
                                                      --------           --------           --------

CASH, ENDING                                            14,403                 67             14,403
                                                      ========           ========           ========

SUPPLEMENTAL CASH FLOW INFORMATION:

Cash paid for:
  - Interest                                                --                 --                 --
  - Income taxes                                            --                 --                 --
                                                      ========           ========           ========
</TABLE>


                           - See Accompanying Notes -

                                       4
<PAGE>
MADRONA VENTURES INC.
(An Exploration Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

January 31, 2007
(Unaudited)
--------------------------------------------------------------------------------

1. NATURE OF OPERATIONS

   The Company was  incorporated  in the State of Nevada on June 21, 2005 and is
   in  the  exploration   stage.  The   recoverability  of  costs  incurred  for
   acquisition  and  exploration  of the  property  will be  dependent  upon the
   discovery of economically recoverable reserves, confirmation of the Company's
   interest  in the  underlying  property,  the ability of the Company to obtain
   necessary  financing  to  satisfy  the  expenditure  requirements  under  the
   property  agreement and to complete the  development of the property and upon
   future profitable production or proceeds from the sale thereof.

   These financial  statements have been prepared on a going concern basis which
   assumes the  Company  will be able to realize  its assets and  discharge  its
   liabilities in the normal course of business for the foreseeable  future. The
   Company has incurred losses of $41,097 since inception and further losses are
   anticipated in the  development  of its business  raising  substantial  doubt
   about the Company's  ability to continue as a going  concern.  The ability to
   continue  as a  going  concern  is  dependent  upon  the  Company  generating
   profitable  operations in the future and/or obtaining the necessary financing
   to meet its  obligations  and  repay  its  liabilities  arising  from  normal
   business  operations  when they  come  due.  Management  intends  to  finance
   operating  costs over the next twelve  months with  existing cash on hand and
   loans from directors and or private placement of common stock.

   The accompanying unaudited interim financial statements have been prepared in
   accordance with United States generally  accepted  accounting  principles for
   interim  financial  information  and with the  instructions to Form 10-QSB of
   Regulation S-B. They may not include all  information and footnotes  required
   by United  States  generally  accepted  accounting  principles  for  complete
   financial statements. However, except as disclosed herein, there have been no
   material  changes in the information  disclosed in the notes to the financial
   statements  for the year ended July 31, 2006 included in the  Company's  Form
   SB-2 filed with the Securities and Exchange Commission. The interim unaudited
   financial  statements  should be read in  conjunction  with  those  financial
   statements  included  in the Form SB-2.  In the  opinion of  Management,  all
   adjustments  considered necessary for a fair presentation,  consisting solely
   of normal recurring  adjustments,  have been made.  Operating results for the
   six months  ended  January 31,  2007 are not  necessarily  indicative  of the
   results that may be expected for the year ending July 31, 2007.

2. MINERAL INTERESTS

   Cathi 1 Claim, British Columbia, Canada

   By a Bill  of Sale  dated  August  13,  2004,  the  Company  acquired  a 100%
   undivided right,  title and interest in and to the "Cathi 1" Claim located in
   the  province  of  British   Columbia,   Canada  from  an  unrelated   party.
   Consideration for the acquisition was $20,000.  Cumulative  property costs of
   $31,569  incurred  during  the year  ended  July 31,  2006  were  charged  to
   operations. No property costs have been incurred in the current period .

3. CAPITAL STOCK

   The  total  number  of  common  shares  authorized  that may be issued by the
   Company  is  75,000,000  shares  with a par  value  of one  tenth of one cent
   ($0.001) per share and no other class of shares is authorized.

   During the year ended July 31, 2006, the Company issued  6,525,000  shares of
   common stock for total cash proceeds of $55,500.

   At January 31, 2007, there were no outstanding stock options or warrants.

                                       5
<PAGE>
4. INCOME TAXES

   As of January 31, 2007,  the Company had net operating loss carry forwards of
   approximately  $41,000 that may be available to reduce future years'  taxable
   income through 2027. Future tax benefits which may arise as a result of these
   losses  have not been  recognized  in these  financial  statements,  as their
   realization  is determined not likely to occur and  accordingly,  the Company
   has recorded a valuation  allowance  for the  deferred tax asset  relating to
   these tax loss carry-forwards.

                                       6
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

RESULTS OF OPERATIONS

Our current cash balance is $14,403. We believe our cash balance is sufficient
to fund our level of operations until May 2007. If we experience a shortage of
funds prior to funding we may utilize funds from our directors, however they
have no formal commitment, arrangement or legal obligation to advance or loan
funds to the company. We are an exploration stage company and have generated no
revenue to date. We have sold $55,500 in equity securities to pay for our
minimum level of operations.

Our plan of operation for the next twelve months is to complete the three phases
of the exploration program on our claim consisting of detailed prospecting,
mineralization mapping, Magnetometer, grid controlled surveys over the areas of
interest, induced polarization survey over grid controlled anomalous areas of
interest, hoe or bulldozer trenching, mapping and sampling of bedrock anomalies.
In addition to the costs we anticipate for Phases 1-3 of the exploration program
as outlined below, we anticipate spending an additional $5,000 on professional
fees, including fees payable in connection complying with reporting obligations,
and general administrative costs. If we experience a shortage of funds prior to
funding we may utilize funds from our directors, however they have no formal
commitment, arrangement or legal obligation to advance or loan funds to the
company.

We plan to commence Phase 1 of the exploration program on the claim in the
spring of 2007. We expect this phase to take 10 days to complete and an
additional one to two months for the geologist to receive the results from the
assay lab and prepare his report.

Subject to the results of phase 1, we anticipate commencing the second phase of
our exploration program in summer 2007. Subject to financing and the results of
phases 1 and 2 we anticipate commencing with phase 3 in fall 2007 or spring
2008. We have a verbal agreement with Andre Pauwels, the professional geologist
who prepared the geology report on the Telluric Gold Property, to retain his
services for our planned exploration program. We will require additional funding
to proceed with any subsequent work on the claim; we have no current plans on
how to raise the additional funding. We cannot provide any assurance that we
will be able to raise sufficient funds to proceed with any work after the first
three phases of the exploration program.

Our auditor has 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 our bills. This is
because we have not generated revenues and no revenues are anticipated until we
begin removing and selling minerals. There is no assurance we will ever reach
that point.

                                       7
<PAGE>

PLAN OF OPERATION

The following three phase exploration proposal and cost estimate is offered with
the understanding that consecutive phases are contingent upon positive
(encouraging) results being obtained from each preceding phase:

     1.   Establish a grid over a 1000 by 500 m area and centred on the Telluric
          Shaft. Lines should be oriented N25E across the strike of the known
          Telluric vein, extend 250m to the NE and 250m to the southwest. Trees
          are to be sampled at 25 m intervals west of the shaft, where
          overburden prevails and at 50 m intervals east of the shaft where the
          shear zone/vein is intermittently exposed over 150 m of strike.
     2.   Establish a grid over a 500 by 500m area around the Moon showing.
          Lines to be oriented north-south and spaced 100 meters apart. Trees to
          be sampled at 50 m intervals along lines.
     3.   If positive results are found from the bark sampling, a program of
          trenching with a backhoe of all areas with high gold in bark is
          recommended

                                     BUDGETS
1  SAMPLING TELLURIC                                             $         US $
Travel                    2 man days                            600
Bark sampling             Technician 3 days                     600
Establishing Grid         Geologist 1 day/technician 1 day      600
Analysis                  150 samples @ $25 each              3,750
Sample transport                                                100
Food Lodging              5 man-days $75 per day                375
Truck rental/gas                                                400
Report/drafting                                               1,500
                                                       TOTAL  7,925       6,952
2  SAMPLING MOON
Travel                    2 man days                            600
Bark sampling             Technician 1 days                     200
Establishing Grid         Geologist 1 day/technician 1 day      600
Analysis                  60samples @ $25 each                3,750
Sample transport                                                 50
Food Lodging              3 man-days $75/day                    225
Truck rental/gas                                                250
Report/drafting                                                 500
                                                       TOTAL  6,175       5,417

                                       8
<PAGE>
3  TRENCHING
Backhoe rental            5 days @ 600/day                    3,000
Permitting                                                    4,000
Mobe /Demobe                                                  3,000
Supervision sampling      Geologist  5 days                   2,500

Travel                    Geologist  2 days                   1,000
Food and Lodging          5 days @ $75/day                      375
Truck rental /gas         7 days                                500
Report and drafting                                           1,500
Analysis                                                      1,500
Contingency                                                   2,000
                                                       TOTAL 19,375      16,996
                                                                         29,365

We plan to commence Phase 1 of the exploration program on the claim in the
spring of 2007. We expect this phase to take 10 days to complete and an
additional one to two months for the geologist to receive the results from the
assay lab and prepare his report.

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

Following phase one of the exploration program, if it proves successful in
identifying mineral deposits, we intend to proceed with phase two of our
exploration program. The estimated this program will take approximately 12 days
to complete and an additional one to two months for the geologist to receive the
results from the assay lab and prepare his report.

Subject to the results of phase 1, we anticipate commencing the second phase of
our exploration program in summer 2007. Subject to financing and the results of
phases 1 and 2 we anticipate commencing with phase 3 in fall 2007 or spring
2008. We have a verbal agreement with Andre Pauwels, the professional geologist
who prepared the geology report on the Telluric Gold Property, to retain his
services for our planned exploration program. We will require additional funding
to proceed with any subsequent work on the claim; we have no current plans on
how to raise the additional funding. We cannot provide any assurance that we
will be able to raise sufficient funds to proceed with any work after the first
three phases of the exploration program.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

                                       9
<PAGE>
SIGNIFICANT ACCOUNTING POLICIES

EXPLORATION STAGE COMPANY

The Company complies with Financial Accounting Standards Board Statement
("FASB") No. 7 "Accounting and Reporting by Development Stage Enterprises" in
its characterization of the Company as an exploration stage enterprise.

MINERAL INTERESTS

The Company has been in the exploration stage of its resource business since its
formation on June 21, 2005 and has not realized any revenues from its planned
operations. It is primarily engaged in the acquisition and exploration of
mineral properties. Mineral property acquisition, exploration and development
costs are expensed as incurred until such time as economic reserves are
quantified. The recoverability of capitalized costs of mineral properties are
presumed to be insupportable under FASB Statement No. 144 prior to determining
the existence of a commercially mineable deposit, as contemplated by Industry
Guide 7 for mining companies in the exploration stage. Further, the Company has
considered the guidance under EITF 04-2 and has determined that capitalization
of mineral property acquisition costs is inappropriate at the current stage of
the Company's mineral property exploration activities. When it has been
determined that a mineral property can be economically developed as a result of
establishing proven and probable reserves, the costs incurred to develop such
property will be capitalized. Such costs will be amortized using the
unit-of-production method over the estimated life of proven reserves. As of the
date of these financial statements, the Company has incurred only exploration
costs which have been charged to operations. To date the Company has not
established any proven or probable reserves on its mineral properties.

The Company has adopted the provisions of Statement of Financial Accounting
Standards ("SFAS') No. 143 "Accounting for Asset Retirement Obligations" which
establishes standards for the initial measurement and subsequent accounting for
obligations associated with the sale, abandonment, or other disposal of
long-term tangible assets arising from the acquisition, construction or
development and for normal operations of such assets. As of July 31, 2006, any
potential costs related to the retirement of the Company's mineral property
interests have not been determined.

RECENT ACCOUNTING PRONOUNCEMENTS

In September 2006, the FASB issued SFAS No. 157, "FAIR VALUE MEASURES" ("SFAS
No. 157"). This Statement defines fair value, establishes a framework for

                                       10
<PAGE>
measuring fair value in generally accepted accounting principles (GAAP), expands
disclosures about fair value measurements, and applies under other accounting
pronouncements that require or permit fair value measurements. SFAS No. 157 does
not require any new fair value measurements. However, the FASB anticipates that
for some entities, the application of SFAS No. 157 will change current practice.
SFAS No. 157 is effective for financial statements issued for fiscal years
beginning after November 15, 2007, which for the Company would be its fiscal
year beginning August 31, 2008. The Company is currently evaluating the impact
of SFAS No. 157 but does not expect that it will have a material impact on its
financial statements.

In September 2006, the FASB issued SFAS No. 158, "Employers' Accounting for
Defined Benefit Pension and Other Postretirement Plans." This Statement requires
an employer to recognize the over funded or under funded status of a defined
benefit post retirement plan (other than a multiemployer plan) as an asset or
liability in its statement of financial position, and to recognize changes in
that funded status in the year in which the changes occur through comprehensive
income. SFAS No. 158 is effective for fiscal years ending after December 15,
2006. The Company does not expect that the implementation of SFAS No. 158 will
have any material impact on its financial position and results of operations.

In September 2006, the SEC issued Staff Accounting Bulletin ("SAB") No. 108,
"Considering the Effects of Prior Year Misstatements when Quantifying
Misstatements in Current Year Financial Statements." SAB No. 108 addresses how
the effects of prior year uncorrected misstatements should be considered when
quantifying misstatements in current year financial statements. SAB No. 108
requires companies to quantify misstatements using a balance sheet and income
statement approach and to evaluate whether either approach results in
quantifying an error that is material in light of relevant quantitative and
qualitative factors. SAB No. 108 is effective for periods ending after November
15, 2006. The Company is currently evaluating the impact of adopting SAB No. 108
but does not expect that it will have a material effect on its financial
statements.

ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive

                                       11
<PAGE>
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

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

                           PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing.

Those marked with an asterisk and required to be filed hereunder, are
incorporated by reference and can be found in their entirety in our original
Form SB-2 Registration Statement, filed under SEC File Number 333-139915, at the
SEC website at www.sec.gov:

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

                                       12
<PAGE>
                                  SIGNATUERES

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.

March 12, 2007                     Madrona Ventures Inc., Registrant


                                   By: /s/ Reese Baglole
                                       ------------------------------
                                       Reese Baglole, President, Chief Executive
                                       Officer, Principal Accounting
                                       Officer, and Chief Financial Officer

                                       13