**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB**

| **Delaware**                                   |   | **98-0504006**                     |
|------------------------------------------------|--------|------------------------------------|
| (State                or other jurisdiction of |   | (I.R.S.                Employer    |
| incorporation                or organization)  |   | Identification                No.) |

**1226      White Oak Blvd., Suite 10A, Oakville, Ontario L6H 2B9**

|   | YES                o | NO                x |   |
|--------|----------------------|---------------------|--------|

|   | YES                o | NO                x |   |
|--------|----------------------|---------------------|--------|

| Class                                          | Outstanding                As of April 30, 2007 |
|------------------------------------------------|-------------------------------------------------|
| Common                Shares $ .0001 par value | 24,495,932                                      |

|   | YES                o | NO                x |   |
|--------|----------------------|---------------------|--------|

----

**PACIFIC      COPPER CORP. **

**(FORMERLY      GATE-1 FINANCIAL, INC.)**

**(AN      EXPLORATION STAGE COMPANY)**

**CONTENTS**

| Interim                Balance Sheets as of April 30, 2007 and October 31, 2006                                                                                                                                | 3                                    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|
|                                                                                                                                                                                                           |                                 |
| Interim                Statements of Operations for the six months and three months ended                April                30, 2007 and April 30, 2006                                                      | 4                                    |
|                                                                                                                                                                                                           |                                 |
| Interim                    Statements of Changes in Stockholders' Equity for the six months                    ended                    April 30, 2007 and the year ended October 31,                    2006. | 5                                    |
|                                                                                                                                                                                                           |                                 |
| Interim                Statements of Cash Flows for the six months ended April 30, 2007                and April                30, 2006.                                                                      | 6                                    |
|                                                                                                                                                                                                           |                                 |
| Condensed                Notes to Interim Financial Statements                                                                                                                                                 | 7                -                12 |

----

**PACIFIC      COPPER CORP. **

**(FORMERLY      GATE-1 FINANCIAL, INC.)**

**(AN      EXPLORATION STAGE COMPANY)**

|                                                                                                                                                              |   | April                30,2007 |      | October                31,2006 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|-----------|--------------------------------|--------|
|                                                                                                                                                              |   | $                            |      | $                              |   |
| **ASSETS**                                                                                                                                                        |   |                         |      |                           |   |
| **Current**                                                                                                                                                       |   |                         |      |                           |   |   |   |
| Cash                and cash equivalents                                                                                                                          |   |                         | 2,637,180 |                           |   | 378,979 |   |
| Prepaid                expenses and other receivables                                                                                                             |   |                         | 7,178     |                           |   | 11,819 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Total                Current Assets**                                                                                                                           |   |                         | 2,644,358 |                           |   | 390,798 |   |
| **Plant                and Equipment, net**                (note 4)                                                                                               |   |                         | 1,861     |                           |   | 1,132 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Total                Assets**                                                                                                                                   |   |                         | 2,646,219 |                           |   | 391,930 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **LIABILITIES**                                                                                                                                                   |   |                         |      |                           |   |   |   |
| **Current**                                                                                                                                                       |   |                         |      |                           |   |   |   |
| Accounts                payable                                                                                                                                   |   |                         | 26,319    |                           |   | 58,370 |   |
| Accrued                liabilities                                                                                                                                |   |                         | 78,800    |                           |   | 10,013 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Total                Current Liabilities**                                                                                                                      |   |                         | 105,119   |                           |   | 68,383 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Commitments                and Contingencies**                (note 8)                                                                                          |   |                         |      |                           |   |   |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **STOCKHOLDERS'                EQUITY**                                                                                                                           |   |                         |      |                           |   |   |   |
| Capital                Stock (note 5)                                                                                                                             |   |                         |      |                           |   |   |   |
| Preferred                stock, $0.0001 par value, 50,000,000 shares authorized, Nil issued                and                outstanding (2005 - nil)            |   |                         | **-**     |                           |   | - |   |
| Common                stock, $0.0001 par value, 200,000,000 shares authorized,                24,495,932                issued and outstanding (2006 -17,315,932) |   |                         | 2,450     |                           |   | 1,732 |   |
| **Additional                Paid-in Capital**                                                                                                                |   |                         | 3,461,671 |                           |   | 979,189 |   |
| **Deficit                Accumulated During the Exploration Stage**                                                                                               |   |                         | (923,021  | )                              |   | (657,374 | ) |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Total                Stockholders' Equity**                                                                                                                |   |                         | 2,541,100 |                           |   | 323,547 |   |
|                                                                                                                                                              |   |                         |      |                           |   |   |   |
| **Total                Liabilities and Stockholders' Equity**                                                                                                |   |                         | 2,646,219 |                           |   | 391,930 |   |

----

**PACIFIC      COPPER CORP. **

**(FORMERLY      GATE-1 FINANCIAL, INC.)**

**(AN      EXPLORATION STAGE COMPANY)**

|                                                |   | Cumulativesinceinception |     | For                thesix                monthsendedApril                30,2007 |   | For                thesix                monthsendedApril                30,2006 |   | For                thethree                monthsendedApril                30,2007 |      | For                thethree                monthsendedApril                30,2006 |   |
|-----------------------------------------------------|--------|--------------------------|----------|----------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------|-----------|------------------------------------------------------------------------------------|--------|
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |
|                                                |   | $                        |     | $                                                                                |   | $                                                                                |   | $                                                                                  |      | $                                                                                  |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |
| **Revenues**                                        |   |                     | -        |                                                                             |   | -                                                                                |   |                                                                               | -         |                                                                               |   | - |   |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Operating                Expenses**               |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| General                and administration           |   |                     | 267,479  |                                                                             |   | 202,817                                                                          |   |                                                                               | -         |                                                                               |   | 142,203 |   |   | - |   |
| Project                expenses                     |   |                     | 660,844  |                                                                             |   | 68,132                                                                           |   |                                                                               | -         |                                                                               |   | 955 |   |   | - |   |
| Amortization                                        |   |                     | 237      |                                                                             |   | 237                                                                              |   |                                                                               | -         |                                                                               |   | 148 |   |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Total                Operating Expenses**    |   |                     | 928,560  |                                                                             |   | 271,186                                                                          |   |                                                                               | -         |                                                                               |   | 143,306 |   |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Loss                from Operations**             |   |                     | (928,560 | )                                                                                |   | **(**271,186                                                                     | )      |                                                                               | -         |                                                                               |   | (143,306 | ) |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| Other                income-interest                |   |                     | 5,539    |                                                                             |   | 5,539                                                                            |   |                                                                               | -         |                                                                               |   | 2,076 |   |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Loss                before Income Taxes**         |   |                     | (923,021 | )                                                                                |   | (265,647                                                                         | )      |                                                                               | -         |                                                                               |   | (141,230 | ) |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| Provision                for income taxes           |   |                     | -        |                                                                             |   | -                                                                                |   |                                                                               | -         |                                                                               |   | - |   |   | - |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Net                Loss**                         |   |                     | (923,021 | )                                                                                |   | (265,647                                                                         | )      |                                                                               | **-**     |                                                                               |   | (141,230 | ) |   | **-** |   |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Loss                per share-Basic and Diluted** |   |                     |     |                                                                             |   | (0.014                                                                           | )      |                                                                               | (0.000    | )                                                                                  |   | (0.007 | ) |   | (0.000 | ) |
|                                                |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Weighted                Average Common Shares**   |   |                     |     |                                                                             |   |                                                                             |   |                                                                               |      |                                                                               |   |   |   |   |   |   |
| **Outstanding**                                     |   |                     |     |                                                                             |   | 18,469,413                                                                       |   |                                                                               | 7,605,932 |                                                                               |   | 19,026,719 |   |   | 7,605,932 |   |

----

**PACIFIC        COPPER CORP. **

**(FORMERLY        GATE-1 FINANCIAL, INC.)**

**(AN        EXPLORATION STAGE COMPANY)**

|                                                                                                                                    |   |                            |       |       |   |                          |   | Deficit                    Accumulated |      |          |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|------------|------------|--------|-------------------------------|--------|----------------------------------------|-----------|---------------|--------|
|                                                                                                                                    |   | Common                    Stock |       | Additional |   | during                    the |   | Total                                  |      |
|                                                                                                                                    |   | Number                          |       |       |   | Paid-in                       |   | Exploration                            |      | Stockholders' |   |
|                                                                                                                                    |   | of                    Shares    |       | Amount     |   | Capital                       |   | Stage                                  |      | Equity        |   |
|                                                                                                                                    |   |                            |       | $          |   | $                             |   | $                                      |      |          |   |
| Common                    stock issued on inception                                                                                     |   |                            | 1          |       |   |                          |   |                                   | 1         |          |   |   |   |   | 1 |   |
| Common                    shares issued for nil consideration (note 5)                                                                  |   |                            | 7,605,932  |       |   | 761                           |   |                                   | (761      | )             |   | **-** |   |   | - |   |
| Cancelled                    shares                                                                                                     |   |                            | (1         | )          |   | -                             |   |                                   | (1        | )             |   |  |  |   | (1 | ) |
| Contributed                    Services                                                                                                 |   |                            |            |       |   |                               |   |                                   | 8,743     |          |   |   |   |   | 8,743 |   |
| Net                    Loss for the period from inception (May 18, 1999) through October                    31,                    2004 |   |                            |            |       |   |                               |        |                                   | -         |               |   | (8,743 | ) |   | (8,743 | ) |
|                                                                                                                                    |   |                            |       |       |   |                          |   |                                   |      |          |   |   |   |   |   |   |
| Balance,                    October 31, 2004                                                                                            |   |                            | 7,605,932  |       |   | 761                           |   |                                   | 7,982     |          |   | (8,743 | ) |   | - |   |
| Contributed                    Services                                                                                                 |   |                            |            |       |   |                               |   |                                   | 1,178     |          |   |   |   |   | 1,178 |   |
| Net                    Loss                                                                                                             |   |                            |            |       |   |                               |        |                                   | -         |               |   | (1,178 | ) |   | (1,178 | ) |
|                                                                                                                                    |   |                            |       |       |   |                          |   |                                   |           |          |   |   |   |   |   |   |
| Balance                    October 31, 2005                                                                                             |   |                            | 7,605,932  |       |   | 761                           |   |                                   | 9,160     |          |   | (9,921 | ) |   | - |   |
| Common                    shares issued for cash                                                                                        |   |                            | 4,710,000  |       |   | 471                           |   |                                   | 470,529   |          |   | **-** |   |   | 471,000 |   |
| Common                    shares issued for acquisition of interests in mineral                    claims                               |   |                            | 5,000,000  |       |   | 500                           |   |                                   | 499,500   |          |   |  |   |   | 500,000 |   |
| Net                    Loss                                                                                                             |   |                            | **-**      |       |   | **-**                         |   |                                   | **-**     |          |   | (647,453 | ) |   | (647,453 | ) |
|                                                                                                                                    |   |                            |       |       |   |                          |   |                                   |      |          |   |   |   |   |   |   |
| Balance,                    October 31, 2006                                                                                            |   |                            | 17,315,932 |       |   | 1,732                         |   |                                   | 979,189   |          |   | (657,374 | ) | $ | 323,547 |   |
|                                                                                                                                    |   |                            |       |       |   |                          |   |                                   |      |          |   |   |   |   |   |   |
| Common                    shares issued for cash                                                                                        |   |                            | 660,000    |       |   | 66                            |   |                                   | 65,934    |          |   |   |   |   | 66,000 |   |
| Common                    shares issued for cash                                                                                        |   |                            | 2,000,000  |       |   | 200                           |   |                                   | 199,800   |          |   |   |   |   | 200,000 |   |
| Common                    shares issued for cash                                                                                        |   |                            | 4,520,000  |       |   | 452                           |   |                                   | 2,259,548 |          |   |   |   |   | 2,260,000 |   |
| Stock                    subscriptions received                                                                                         |   |                            |       |       |   |                          |   |                                   | 30,000    |          |   |   |   |   | 30,000 |   |
| Stock                    Issuance cost                                                                                                  |   |                            |       |       |   |                          |   |                                   | (72,800   | )             |   |   |   |   | (72,800 | ) |
|                                                                                                                                    |   |                            |       |       |   |                          |   |                                   |      |          |   |   |   |   |   |   |
| Net                    Loss                                                                                                             |   |                            | -          |       |   | -                             |   |                                   | -         |          |   | (265,647 | ) |   | (265,647 | ) |
| Balance                    April 30, 2007                                                                                               |   |                            | 24,495,932 |       |   | 2,450                         |   |                                   | 3,461,671 |          |   | (923,021 | ) | $ | 2,541,100 |   |

----

**PACIFIC      COPPER CORP. **

**(FORMERLY      GATE-1 FINANCIAL, INC.)**

**(AN      EXPLORATION STAGE COMPANY)**

|                                                                         |   | Cumulative |      |                     |   |                     |   |
|------------------------------------------------------------------------------|--------|------------|-----------|--------------------------|--------|--------------------------|--------|
|                                                                         |   | Since      |      | April                30, |   | April                30, |   |
|                                                                         |   | Inception  |      | 2007                     |   | 2006                     |   |
| **Cash                Flows from Operating Activities**                      |   |       |      |                     |   |                     |   |
| Net                Loss                                                      |   |       | (923,021  | )                        |   | (265,647                 | )      |   | - |   |
| Adjustment                for:                                               |   |       |      |                     |   |                     |   |   |   |   |
| Amortization                                                                 |   |       | 237       |                     |   | 237                      |   |   | **-** |   |
| Expenses                credited to Additional Paid-in Capital               |   |       | 9,921     |                     |   | **-**                    |   |   | - |   |
| Shares                issued for mineral claims, as part of project expenses |   |       | 500,000   |                     |   | -                        |   |   | **-** |   |
| Changes                in non-cash working capital                           |   |       |      |                     |   |                     |   |   |   |   |
| Prepaid                expenses                                              |   |       | (7,178    | )                        |   | 4,641                    |   |   | - |   |
| Accounts                payable                                              |   |       | 26,318    |                     |   | (32,052                  | )      |   | - |   |
| Accrued                liabilities for operating activities                  |   |       | 6,000     |                     |   | (4,013                   | )      |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| Net                cash used in operating activities                         |   |       | (387,723  | )                        |   | (296,834                 | )      |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| **Cash                Flows from Investing Activities**                      |   |       |      |                     |   |                     |   |   |   |   |
| Acquisition                of plant and equipment                            |   |       | (2,097    | )                        |   | (965                     | )      |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| Net                cash used in investing activities                         |   |       | (2,097    | )                        |   | (965                     | )      |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| **Cash                Flows from Financing Activities**                      |   |       |      |                     |   |                     |   |   |   |   |
| Issuance                of common shares for cash                            |   |       | 2,997,000 |                     |   | 2,526,000                |   |   | **-** |   |
| Stock                subscriptions received                                  |   |       | 30,000    |                     |   | 30,000                   |   |   |   |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| Net                cash provided by financing activities                     |   |       | 3,027,000 |                     |   | 2,556,000                |   |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| **Net                increase (decrease) in Cash and Cash equivalents**      |   |       | 2,637,180 |                     |   | 2,258,201                |   |   | - |   |
| **Cash-                beginning of period**                                 |   |       | **-**     |                     |   | 378,979                  |   |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| **Cash                - end of period**                                      |   |       | 2,637,180 |                     |   | 2,637,180                |   |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| **Supplemental                Cash Flow Information**                        |   |       |      |                     |   |                     |   |   |   |   |
| Interest                paid                                                 |   |       | **-**     |                     |   | -                        |   |   | - |   |
|                                                                         |   |       |      |                     |   |                     |   |   |   |   |
| Income                taxes paid                                             |   |       | **-**     |                     |   | -                        |   |   | - |   |

----

| **1.** | **Basis                of Presentation** |
|--------|------------------------------------------|

| **2.** | **Exploration                Stage Activities** |
|--------|-------------------------------------------------|

| **3.** | **Nature                of Business and Operations** |
|--------|------------------------------------------------------|

----

| **4.** | **Plant                and Equipment, Net** |
|--------|---------------------------------------------|

|   | Computer                equipment            | 30% | declining                balance method |
|--------|----------------------------------------------|-----|-----------------------------------------|
|   | Office                furniture and fixtures | 20% | declining                balance method |

|                                          |   |   |   | April                30, 2007Accumulated |   |   |   | October                31, 2006 Accumulated |   |
|-----------------------------------------------|--------|--------|--------|------------------------------------------|--------|--------|--------|---------------------------------------------|--------|
|                                          |   | Cost   |   | Depreciation                             |   | Cost   |   | Depreciation                                |   |
|                                          |   | $      |   | $                                        |   | $      |   | $                                           |   |
|                                          |   |   |   |                                     |   |   |   |                                        |   |
| Office,                furniture and fixtures |   |   | 386    |                                     |   | 19     |   |                                        | -      |   |   | - |   |
| Computer                equipment             |   |   | 1,711  |                                     |   | 217    |   |                                        | 1,132  |   |   | - |   |
|                                          |   |   |   |                                     |   |   |   |                                        |   |   |   |   |   |
|                                          |   |   | 2,097  |                                     |   | 236    |   |                                        | 1,132  |   |   | - |   |
|                                          |   |   |   |                                     |   |   |   |                                        |   |   |   |   |   |
| Net                carrying amount            |   | $      | 1,861  |                                     |   |   |   | $                                           | 1,132  |   |   |   |   |

| **5.** | **Issuance                of Common Shares** |
|--------|----------------------------------------------|

----

| **6.** | **Employee                Stock Option Plan** |
|--------|-----------------------------------------------|

| **7.** | **Stock                Based Compensation** |
|--------|---------------------------------------------|

| **8.** | **Commitments                and Contingencies** |
|--------|--------------------------------------------------|

----

| **9.** | **Related                Party Transactions** |
|--------|-----------------------------------------------|

| **10.** | **Subsequent                events** |
|---------|--------------------------------------|

|  | 1. | On                May 14, 2007 the Board granted the following stock                options: |
|--|----|----------------------------------------------------------------------------------------------|

|   | a) | Stock                options granted to five (5) Officers/ Directors to purchase 250,000                common                shares each at an exercise price of $0.50/per share or the closing                price                on the first day the Company’s shares trade on the OTC BB, which ever is                the highest. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | b) | Stock                Options granted to two (2) consultants to each purchase 50,000 common                shares at a price of $0.50 per share or the closing price on the                first day                the Company’s shares trade on the OTC BB which ever is the higher                price. |
|--|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | c) | Stock                Options granted to one (1) consultant to purchase 100,000 common                shares at                a price of $0.50 per share or the closing price on the first day                the                Company’s shares trade on the OTC BB which ever is the higher                price. |
|--|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d) | Stock                options to two (2) Directors and Ex-CFO to purchase 100,000 common                shares                each at an exercise price of $0.50 per share or the closing price                on the                first day the Company’s shares trade on the OTC BB, which ever is the                highest. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | Effective                June 1, 2007 the Company executed an agreement with a consultant                who will                provide advice and consultation with respect to financial matters,                business growth and development and general business consultation                with                respect to business opportunities in North America for a term of                fifteen                months. The Company agreed to compensate the consultant with 1,000,000                shares of restricted common stock which shall be earned by the consultant                in the following manner: equal installments of 250,000 shares on                December                1, 2007, March 1, 2008, June 1, 2008 and September 1, 2008. The said                1,000,000 shares of restricted Common stock of the Company will be                tendered in one certificate on June 1, 2007; provided, however, that                the                consultant must return any unearned shares upon termination of the                agreement. Either the consultant or the Company may terminate the                agreement with or without cause upon thirty (30) days written notice                to                the other provided the Company may not give notice of cancellation                before                September 1, 2007. |
|--|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 3. | Effective                June 1, 2007 the Company executed an agreement with a consultant                who will                provide advice and consultation with respect to financial matters,                business growth and development and general business consultation                with                respect to business opportunities in Europe for a term of fifteen                months.                The Company agreed to compensate the consultant with 1,000,000 shares                of                restricted common stock which shall be earned by the consultant in                the                following manner: Equal installments of 250,000 shares on December                1,                2007, March 1, 2008, June 1, 2008 and September 1, 2008. The said                1,000,000 shares of restricted Common stock of the Company will be                tendered in one certificate on June 1, 2007; provided, however, that                the                consultant must return any unearned shares upon termination of the                agreement. Either the consultant or the Company may terminate the                agreement with or without cause upon thirty (30) days written notice                to                the other provided the Company may not give notice of cancellation                before                September 1, 2007. |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **10.** | **Subsequent                events-cont’d** |
|---------|---------------------------------------------------|

|  | 4. | Effective                June 1, 2007 the Company executed an agreement with a consultant                who will                provide advice and consultation with respect to financial public                relations, business promotion, business growth and development and                general                business consultation for a term of twenty-four months. The Company                agreed                to compensate the consultant with a monthly payment of $4,000 not                in                advance and 1,000,000 shares of restricted common stock which shall                be                earned by the consultant in the following manner: equal installments                of                250,000 shares on December 1, 2007, March 1, 2008, June 1, 2008 and                September 1, 2008. The said 1,000,000 shares of restricted Common                stock of                the Company will be tendered in one certificate on June 1, 2007;                provided,                however, that the consultant must return any unearned shares upon                termination of the agreement. Either the consultant or the Company                may                terminate the agreement with or without cause upon sixty (60) days                written                notice to the other provided the Company may not give notice of                termination prior to January 1,                2008. |
|--|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Subsequent                to the quarter ended April 30, 2007, the Company received $795,000                in in                connection with the subscriptions for 1,590,000 units at $0.50 per                unit.                Each unit consists of one common share and one half a common share                purchase warrant. Each full warrant is exercisable for one common                share at                $0.75 per share on or before April 30, 2009. The Company has obligations                outstanding to an agent for $43,750 and a warrant to purchase 87,500                common shares at $0.50 per share on or before April 30, 2009. This                private                placement was undertaken entirely outside the United States and effected                pursuant to an exemption under Regulation                S |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Subsequent                to the quarter ended April 30, 2007, the Company advanced a loan                of                $200,000 to a South American company, which is secured by a promissory                note to carry out a drill program on property to be acquired by the                Company through the acquisition of Peru Co. When the purchase of                Peru Co.                is completed the note may be retired with invoices for the drilling                and if                the purchase of Peru Co. is not completed than the promissory note                will be                repayable in cash. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**MANAGEMENT'S      DISCUSSION AND ANALYSIS OF**

**FINANCIAL      CONDITION AND RESULTS OF OPERATION**

**FOR      THE THREE AND SIX MONTH PERIOD ENDED APRIL 30, 2007**

**Discussion      of Operations & Financial Condition **

**Three      and Six month period ended April 30, 2007 **

**SELECTED      INFORMATION**

|                                            |   | Three                months ended |    | Three                months ended |   |
|-------------------------------------------------|--------|-----------------------------------|---------|-----------------------------------|--------|
|                                            |   | April                30, 2007     |    | April                30, 2006     |   |
|                                            |   |                              |    |                              |   |
| Revenues                                        |   | $                                 | Nil     |                              | $      | Nil |   |
| Net                Loss                         |   | $                                 | 141,230 |                              | $      | Nil |   |
| Loss                per share-basic and diluted |   | $                                 | (0.007  | )                                 | $      | (0.000 | ) |

|                                            |   | Six                months ended |    | Six                months ended |   |
|-------------------------------------------------|--------|---------------------------------|---------|---------------------------------|--------|
|                                            |   | April                30, 2007   |    | April                30, 2006   |   |
|                                            |   |                            |    |                            |   |
| Revenues                                        |   | $                               | Nil     |                            | $      | Nil |   |
| Net                Loss                         |   | $                               | 265,647 |                            | $      | Nil |   |
| Loss                per share-basic and diluted |   | $                               | (0.014  | )                               | $      | (0.000 | ) |

|                                             |   | As                at          |      | As                at            |   |
|--------------------------------------------------|--------|-------------------------------|-----------|---------------------------------|--------|
|                                             |   | April                30, 2007 |      | October                31, 2006 |   |
|                                             |   |                          |      |                            |   |
| Total                Assets                      |   | $                             | 2,646,219 |                            | $      | 391,930 |   |
| Total                Liabilities                 |   | $                             | 105,119   |                            | $      | 68,383 |   |
| Cash                dividends declared per share |   |                          | Nil       |                            |   | Nil |   |

----

**Revenues**

**Net      Loss**

----

**Liquidity      and Capital Resources**

|                                                 |   | April                30, 2007 |      | April                30, 2006 |   |
|------------------------------------------------------|--------|-------------------------------|-----------|-------------------------------|--------|
|                                                 |   |                          |      |                          |   |
| Cash                and cash equivalent              |   | $                             | 2,637,180 |                          | $      | nil |   |
| Working                capital                       |   | $                             | 2,539,239 |                          | $      | nil |   |
| Cash                used in operating activities     |   | $                             | (296,834  | )                             | $      | nil |   |
| Cash                used in investing activities     |   | $                             | (965      | )                             | $      | nil |   |
| Cash                provided by financing activities |   | $                             | 2,586,000 |                          | $      | nil |   |

**Critical      Accounting Policies**

**Acquisition,      Exploration and Evaluation Expenditures**

**Off-Balance      Sheet Arrangement**

**Contractual      Obligations and Commercial Commitments**

----

----

**RISK      FACTORS**

| 1. | THE                COMPANY HAS NO SOURCE OF OPERATING REVENUE AND EXPECTS TO INCUR                SIGNIFICANT EXPENSES BEFORE ESTABLISHING AN OPERATING COMPANY, IF                IT IS                ABLE TO ESTABLISH AN OPERATING COMPANY AT                ALL. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | further                exploration of our mineral properties and the results of that                exploration; |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| ·   | raising                the capital necessary to conduct this exploration;                and |
|--------------------|----------------------------------------------------------------------------------------------|

| ·   | raising                capital to develop our mineral properties, establish a mining operation,                and operate this mine in a profitable manner, if any of these activities                are warranted by the results of our exploration programs and a feasibility                study. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | IF                THE COMPANY DEVELOPS MINERAL RESOURCES, THERE IS NO GUARANTEE THAT                PRODUCTION WILL BE PROFITABLE. |
|----|------------------------------------------------------------------------------------------------------------------------------------|

| 3. | THE                COMPANY IS HIGHLY DEPENDENT UPON ITS OFFICERS AND DIRECTORS. BECAUSE                OF                THEIR INVOLVEMENT IN OTHER SIMILAR BUSINESSES WHICH MAY BE COMPETITORS,                THEY MAY HAVE A CONFLICT OF                INTEREST. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 5. | THERE                ARE PENNY STOCK SECURITIES LAW CONSIDERATIONS THAT COULD LIMIT YOUR                ABILITY TO SELL YOUR SHARES. |
|----|--------------------------------------------------------------------------------------------------------------------------------------|

**DISCLOSURE      AND FINANCIAL CONTROLS AND PROCEDURES**

----

**PART      II: OTHER INFORMATION**

**ITEM      1:**
**LEGAL      PROCEEDINGS:**

**ITEM      2:**
**UNREGISTERED      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS:**

| **Name**                                                              |   | **Shares** |      | **Date                Issued** |   |
|-----------------------------------------------------------------------|--------|------------|-----------|--------------------------------|--------|
| Agosto                Corporation Limited                             |   |       | 2,500,000 |                           |   | September                2006 |   |
| Andrew                Sostad                                          |   |       | 100,000   |                           |   | October                2006 |   |
| J.L.                Guerra, Jr.                                       |   |       | 500,000   |                           |   | October                2006 |   |
| Janet                Shuttleworth                                     |   |       | 60,000    |                           |   | October                2006 |   |
| Randall                Pow                                            |   |       | 100,000   |                           |   | October                2006 |   |
| James                Baglot                                           |   |       | 200,000   |                           |   | October                2006 |   |
| Terence                Shorn                                          |   |       | 100,000   |                           |   | October                2006 |   |
| Michael                Parker                                         |   |       | 100,000   |                           |   | October                2006 |   |
| Monita                Faris                                           |   |       | 50,000    |                           |   | October                2006 |   |
| Steve                McGuire                                          |   |       | 300,000   |                           |   | October                2006 |   |
| NBCN                Clearing Inc.ITF                Sheldon Inwentash |   |       | 400,000   |                           |   | October,                2006 |   |
| MB                Pics Capital Corporation                            |   |       | 300,000   |                           |   | October                2006 |   |
| Mark                Spencer                                           |   |       | 300,000   |                           |   | November                2006 |   |
| Topel                Capital Ltd.                                     |   |       | 300,000   |                           |   | November                2006 |   |
| Rakesh                Malhotra                                        |   |       | 60,000    |                           |   | January,                2007 |   |

|   |   | All                of the above shares are covered by a re-sale registration statement                and                are subject to a Lock-Up Agreement which provides that: (i) up to                25% of                each such shareholder’s shares may be re-sold as of the date hereof, (ii)                an additional 25% of each such shareholder’s shares may be sold after                August 16, 2007, (iii) an additional 25%of each shareholder’s shares may                be sold after February 16, 2008 and (iv) an additional 25% of each                shareholder’s shares may be sold after August 16,                2008. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **Name:**                                           |   | **First                Name** |   | **Date                Issued:** |   | **#                of Shares** |
|-----------------------------------------------------|--------|-------------------------------|--------|---------------------------------|--------|--------------------------------|
| PINETREE                RESOURCE PARTNERSHIP        |   |                          |   | 04/26/07                        |   | 2,500,000                      |
| 1393566                ONTARIO LIMITED              |   |                          |   | 04/30/07                        |   | 20,000                         |
| 6287                HOLDINGS INC.                   |   |                          |   | 04/30/07                        |   | 80,000                         |
| BRADLEY                                             |   | MIRANDA                       |   | 04/30/07                        |   | 40,000                         |
| CONCEPTS                & DESIGN INC.           |   |                          |   | 04/30/07                        |   | 40,000                         |
| COZZI                                               |   | PETER                         |   | 04/30/07                        |   | 40,000                         |
| CROSS                                               |   | WAYNE                         |   | 04/30/07                        |   | 20,000                         |
| CROSSWIND                CAPITAL CORP.              |   |                          |   | 04/30/07                        |   | 160,000                        |
| DELLA                MAESTRA                        |   | JULIA                         |   | 04/30/07                        |   | 200,000                        |
| DIKIC                                               |   | MARIN                         |   | 04/30/07                        |   | 20,000                         |
| ELMAN                                               |   | GARY                          |   | 04/30/07                        |   | 20,000                         |
| ELMAN                                               |   | NEIL                          |   | 04/30/07                        |   | 40,000                         |
| FELDMAN                                             |   | GERRY                         |   | 04/30/07                        |   | 120,000                        |
| FX                INC.                              |   |                          |   | 04/30/07                        |   | 410,000                        |
| HERSON                                              |   | MARTY                         |   | 04/30/07                        |   | 40,000                         |
| INCORPORATED                INTERNATIONAL CAPITAL   |   |                          |   | 04/30/07                        |   | 40,000                         |
| JAMES                                               |   | ANDREW                P.      |        | 04/30/07                        |   | 20,000                         |
| JAMES                                               |   | TOM                           |   | 04/30/07                        |   | 40,000                         |
| KOFFMAN                                             |   | ALLEN                         |   | 04/30/07                        |   | 40,000                         |
| LANGER                                              |   | ANATOLY                       |   | 04/30/07                        |   | 80,000                         |
| LOCKETT                FAMILY TRUST                 |   | JIM                           |   | 04/30/07                        |   | 40,000                         |
| LOCKETT                                             |   | KENNETH                R.     |   | 04/30/07                        |   | 40,000                         |
| MCGOLDRICK                                          |   | JOHN                          |   | 04/30/07                        |   | 20,000                         |
| MILLAR                                              |   | NANCY                         |   | 04/30/07                        |   | 140,000                        |
| MUNKLEY                                             |   | DOUGLAS                       |   | 04/30/07                        |   | 30,000                         |
| PENTOR                CAPITAL CORP.                 |   |                          |   | 04/30/07                        |   | 60,000                         |
| PERRY                                               |   | RON                           |   | 04/30/07                        |   | 40,000                         |
| ROCCHETTI                                           |   | SILVANA                       |   | 04/30/07                        |   | 40,000                         |
| SHIER                                               |   | AARON                         |   | 04/30/07                        |   | 20,000                         |
| L.                WHITE MEDICINE PROFESSIONAL CORP. |   |                          |   | 04/30/07                        |   | 40,000                         |
| ZEIBOTS                                             |   | RICK                          |   | 04/30/07                        |   | 140,000                        |
| Total:                                              |   |                          |   |                            |   | **4,580,000**                  |

----

**ITEM      3:**
**DEFAULTS      UPON SENIOR SECURITIES:**

**ITEM      4:**
**SUBMISSION      OF MATTERS TO A VOTE OF SECURITY HOLDERS:**

**ITEM      5:**
**OTHER      INFORMATION:**

**ITEM      6:**
**EXHIBITS      & REPORTS ON FORM 8-K**

| (a) | 31.1                Certification of Chief Executive Officer. |
|-----|---------------------------------------------------------------|
|   |   |
|--------|--------|
|   | 31.2 Certification of Chief Financial              Officer. |
|--------|-------------------------------------------------------------|
|   |   |
|--------|--------|
|   | 32.1 Certificate of Chief Executive              Officer              and Chief Financial Officer. |
|--------|----------------------------------------------------------------------------------------------------|

**SIGNATURE**

|                 |         |                             |
|----------------------|--------------|----------------------------------|
|            |    |                        |
| Dated: June 11, 2007 |              | /s/ Stafford              Kelley |
|                 | Secretary    |

----