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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-K

[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 0R 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended May 31, 2009

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 0R 15(d) OF THE
SECURITIESEXCHANGE ACT OF 1934

For the transition period from ______________ to
_______________

Commission file number 000-52796

GURATA GOLD, INC.(Exact
name of registrant as specified in its charter)

|Incorporated in the State of Nevada                                  | 71-1046926                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|                                                                     |                                     
|11730 NE 107thPlace,
      Kirkland, Washington                      | 98033                               
|(Address of principal executive offices)                             | (Zip Code)                          

Registrants telephone number, including area code: (206)
779-5013

Securities registered pursuant to Section 12(b) of the Act:

|Title of each class | Name of each exchange on which registered
|------------------- | -----------------------------------------
|None                | N/A                                      

Securities registered pursuant to Section 12(g) of the Act:

common stock - $0.001 par value(Title of
Class)

Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities Act.[ ] Yes [ X
] No

Indicate by check mark if the registrant is not required to file
reports pursuant to Section 13 or Section 15(d) of the Act.[ ] Yes [ X ]
No

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Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the last 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. [ X ] Yes [ ] No

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Website, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§229.405 of this chapter) during the preceding 12 months (or for such short
period that the registrant was required to submit and post such files). [ ] Yes
[ ] No

Indicate by check mark if disclosure of delinquent filers in
response to Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrants knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. [ ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange
Act.

|Larger accelerated filer **[ ]** |                                                     | Accelerated filer [ ]          
|-------------------------------- | --------------------------------------------------- | -------------------------------
|Non-accelerated filer **[ ]**    | (Do not check if a smaller
      reporting company) | Smaller reporting company [ X ]

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

State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the
price at which the common equity was last sold, or the average bid and asked
price of such common equity, as of the last business day of the registrants
most recently completed second fiscal quarter: $9,350,000

Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable date.

|Class                           | Outstanding at November 18,
      2009
|------------------------------- | --------------------------------------
|common stock - $0.001 par value | 39,000,000                            

Documents incorporated by reference: Exhibit 3.1 (Articles of
Incorporation) and Exhibit 3.2 (By-laws) both filed as exhibits to
Guratas registration statement on Form SB-2 filed on August 16, 2007; Exhibit
10.1 (Property Agreement) filed as an exhibit to Guratas registration
statement on Form SB-2 filed on August 16, 2007; Exhibit 10.2 (Trust
Agreement) filed as an exhibit to Guratas registration statement on Form
SB-2 filed on August 16, 2007; and Exhibit 14 (Financial Code of Ethics)
filed as an exhibit to Guratas registration statement on Form SB-2 filed on
August 16, 2007.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      2
|----------------------- | ---------------------- | ------------

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PART I

Item 1. Description of Business.

This annual report contains forward-looking statements. These
statements relate to future events or our future financial performance. In some
cases, you can identify forward-looking statements by terminology such as may,
should, expects, plans, anticipates, believes, estimates,
predicts, potential or continue or the negative of these terms or other
comparable terminology. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors, including the risks in the
section entitled Risk Factors, that may cause our or our industrys actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. Except as required by
applicable law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform these
statements to actual results.

Our financial statements are stated in United States Dollars
(US$) and are prepared in accordance with United States Generally Accepted
Accounting Principles.

In this annual report, unless otherwise specified, all dollar
amounts are expressed in United States Dollars and all references to common
shares refer to the common shares in our capital stock.

As used in this annual report, the terms we, us, our
company, mean Gurata Gold, Inc., a Nevada corporation, unless otherwise
indicated.

Business Development

We were incorporated in the state of Nevada on May 26, 2006.
Since our incorporation, we had been in the business mineral exploration.

On January 17, 2007, we acquired the Gate 1 Claim, a mineral
claim in the Province of British Columbia.

Management has no previous experience exploring for minerals or
operating a mining company. Even if we complete our current exploration program
and are successful in identifying a mineral deposit, we will have to spend
substantial funds on further drilling and engineering studies before we will
know if we have a commercially viable mineral deposit or reserve on the Gate 1
Claim.

Under theMineral Tenure Act(British Columbia), title
to British Columbia mineral claims can only be held by individuals or British
Columbia corporations. Because of this regulation, Feliberto Gurat, our former
chief financial officer, is holding the Gate 1 Claim in trust for our company
until we can determine whether there is a commercially viable gold deposit on
the Gate 1 Claim. If we determine that there is a commercially viable gold
deposit on the Gate 1 Claim we will incorporate a British Columbia subsidiary to
hold title to the Gate 1 Claim and Mr. Gurat will transfer the Gate 1 Claim to
the subsidiary. The transfer will be at no cost to our company, other than the
costs associated with the incorporation of the British Columbia subsidiary.

The cost of the Gate 1 Claim charged to operations by Gurata
was $1,000, which represented the cost to acquire the Gate 1 Claim via a
property agreement with Kenneth Ralfs. However, Gurata will incur much more
significant expenses in order to explore the Gate 1 Claim as described in the
Plan of Operation below.

We have no current plans to change our business activities from
mineral exploration or to combine with another business. It is possible that
beyond the foreseeable future that our mineral exploration efforts fail and for
any potential minerals in our property, become uneconomic due to market prices
for such minerals, which may require us to change our plan of operations.
However, until we encounter such a situation management intends to explore for
minerals in British Columbia, Canada or elsewhere.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 3
|----------------------- | ---------------------- | ------

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We have not been involved in any bankruptcy, receivership or
similar proceedings. There have been no material reclassifications, mergers,
consolidations or purchases or sales of a significant amount of assets not in
the ordinary course of our business.

Our Current Business

We are an exploration stage company, as defined by Statement of
Financial Accounting Standard SFAS No.7 Accounting and Reporting for
Development Stage Enterprises. Our principal business is the acquisition and
exploration of mineral resources. We have not generated any revenues from our
mineral exploration activities. We have not presently determined whether the
Gate 1 Claim contains mineral reserves that are economically recoverable.

We do not have any assets or mineral properties that are
currently in production or contain a reserve.

Gate 1 Claim

In January 2007, we retained Stephen G. Daikow, a member of the
Society of Economic Geologists who is familiar with the Atlin area, to develop a
report about the Gate 1 Claim. The report entitled Review and Recommendations,
Gate 1 Claim, Mineral Tenure 527388, Atlin Mining Division, British Columbia
dated January 26, 2007 describes the Gate 1 Claim, the regional geology, the
mineral potential of the Gate 1 Claim and recommendations how our company should
explore the Gate 1 Claim.

Among other things, the report outlines the potential economic
significance of the mineral claim. According to the report, the Gate 1 Claim
lies in a metamorphic terrain adjacent to the Boundary Ranges of the Coast
Mountains and is prospective for gold, gold-silver, massive sulphide, and,
possibly, platinum group metal deposits.

Location and Access

The Gate 1 Claim is located approximately 30 miles west of
Atlin, British Columbia, Canada. The coordinates of the center of the Gate 1
Claim is at 59°38 North and 134°32 West. The Gate 1 Claim covers an area of
376.49 hectares (approximately 930 acres). The Gate 1 Claim is located on the
north side of Fantail Lake, British Columbia.

The town of Atlin is situated on the east shore of Atlin Lake,
in northern British Columbia, has a population of about 350 permanent residents
and offers most services required in support of mining activities. Fantail Lake
can be reached by sea plane from the town of Atlin. The Gate 1 Claim is a short
hike from Fantail Lake. For convenience and practical considerations, the claim
is best reached by float plane from Atlin.

Summary of the Gate 1 Claim

The Gate 1 Claim is unencumbered, is in good standing and there
are no third party conditions that affect the Gate 1 Claim other than conditions
defined by the Province of British Columbia described below. The Gate 1 Claim
has an area of 376.49 hectares, which is equivalent to approximately 930 acres.
We have has no insurance covering the Gate 1 Claim. Management believes that no
insurance is necessary since the Gate 1 Claim is unimproved and contains no
buildings or improvements. The tenure number, claim name, owner, good to date,
status, and area as typically recorded in British Columbia is as follows:

|Tenure Number | Claim Name   | Owner         | Good to Date | Status | Area (Hectares)
|------------- | ------------ | ------------- | ------------ | ------ | ---------------
|527388        | Gate
      1 | 204848 (100%) | 2012/Feb/10  | Good   | 376.49         

There is no assurance that a commercially viable mineral
deposit exists on the Gate 1 Claim. Further exploration will be required before
an evaluation as to the economic feasibility of the Gate 1 Claim can be
determined. It is managements intention to incorporate a British Columbia
subsidiary company and record the deed of ownership in the name of the
subsidiary if minerals are discovered on the Gate 1 Claim and it appears that it
would be economically viable to commercially mine the Gate 1 Claim. Our
consulting geological technician has written a report and provided our company
with recommendations of how management should explore the Gate 1 Claim. Until we
can validate otherwise, the Gate 1 Claim is without known reserves and
management is planning a three phase mineral exploration program as recommended
by our consulting geological technician.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 4
|----------------------- | ---------------------- | ------

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The Gate 1 Claim has an expiry date of February 10, 2012 and in
order to maintain the tenures in good standing it will be necessary for our
company to coordinate an agent to perform and record valid exploration work with
value of CDN$4 per hectare in anniversary years 1, 2, and 3, and CDN$8 per
hectare in subsequent years or pay the equivalent sum to the Province of British
Columbia in lieu of work. Failure to perform and record valid exploration work
or pay the equivalent sum to the Province of British Columbia on the anniversary
dates will result in forfeiture of title to the Gate 1 Claim.

During the year ended May 31, 2008, we paid approximately
$1,669 to the Province of British Columbia in lieu of exploration work on the
Gate 1 Claim in order to keep the Gate 1 Claim in good standing. We also spent
$13,697 on a helicopter-supported magnetic survey on the Gate 1 Claim. $12,000
of the above expenditure was registered with the Government of the Province of
British Columbia on December 15, 2008 and the tenure is now in good standing
until February 10, 2012.

History of Atlin and the Gate 1
Claim Area

Atlin, British Columbia has always been closely identified with
the mining industry, having been established about 1900 as a supply base and
winter home for miners and prospectors working in the nearby mines, prospects
and placer gold fields. Placer gold fields are areas where gold is found in the
gravels of a mineral claim. Placer mining continues to be an important component
of the local economy and other mining ventures have become increasingly
significant in recent years with several properties either in or approaching the
permitting and significant financing phases. Significant mining properties that
are located in the Tulesequah River valley, 200 kilometres (120 miles) south of
Atlin, are in advanced stages of exploration and approval process and are best
accessed from Atlin.

The Gate 1 Claim was originally staked by Kenneth Ralfs of
Richmond, British Columbia in February 2006. Our company acquired the Gate Claim
from Kenneth Ralfs via a property agreement dated December 15, 2006 and signed
on January 17, 2007.

Present Condition of the Gate 1
Claim

Our company has conducted a helicopter-supported magnetic
survey on the Gate 1 Claim and has received an exploration report on the results
of that survey.

Outcroppings of bedrock are abundant and evergreen forest cover
varies with elevation and soil conditions from dense to sparse. The Gate 1 Claim
lies between elevations 2,500 and 3,400 feet above sea level.

The Tagish Lake and Atlin districts of northwestern British
Columbia experience moderately cold winters and mild summers. Precipitation is
strongly influenced by rain shadow effects, where the Coast Mountains receive
heavy snowfall whereas the valleys and particularly the town of Atlin are much
drier. Summers are warm with frequent rain showers in the mountains. Winters are
cold with temperatures as low as minus 40 degrees Celsius (minus 40 degrees
Fahrenheit). Periods of cold weather are mitigated by short intervals of warm
Chinook conditions.

Currently, there is no equipment, infrastructure or electricity
on the Gate 1 Claim.

Geology of the Gate 1 Claim

The Atlin mining district is geologically varied and complex.
It is bordered to the west by the precipitous and glacier shrouded Coast
Mountains and the attendant Coast Crystalline Complex of granitic terranes. The
central portion is a deeply dissected plateau dominated by Mesozoic strata of
mixed volcanic and volcanogenic formations. The east sector is a more mature
terrain underlain by Cache Creek Group sedimentary rocks of oceanic origin.
Farther east the underlying formations belong to the Sylvester Group of low
grade metamorphic rocks of mid to late Paleozoic ages. Granitic rocks of the
Coast Intrusions are abundantly present as bodies of batholithic proportions and
as small stocks. The Atlin intrusions, a complex of greenstones, peridotites,
dunite, and serpentinized equivalents, occur close to the Town of Atlin and also
in broad belt south and southeast of the town. The ultramafic bodies in the
vicinity of the historic gold mining areas are intimately associated with Cache
Creek formations and smallish and raggedly irregular in outline whereas the
Mount OKeefe or Nahlin ultramafic body is very large and much less disrupted by
fracturing. All bodies are alpine-type ultramafites.

The major structural break in the area is the Llewellyn Fault,
which trends roughly north south and runs through the Taku Arm east of the
property. On the eastern shore of Tagish Lake, the area is underlain by Laberge
Group-Inklin Formation sedimentary rocks, of which include: argillite,
greywacke, conglomerate, mudstone, siltstone, shale, and fine clastics. Along
the Llewellyn Fault, the area is underlain by the Stuhini Group, and unit
calcalkaline volcanics consisting of rhyolites to

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 5
|----------------------- | ---------------------- | ------

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intermediate tuff and breccia. The very north-west of the
property is dominated by the Boundary Ranges Metamorphic suite, which consists
of Devonian to middle Triassic greenstone and greenshist facies rocks. At the
very western edge of the property lies a plug of granitoid rocks from the
Sloko-Hyder Plutonic Suite.

Competition

The mineral exploration business is an extremely competitive
industry. Our company is competing with many other exploration companies looking
for minerals. We are one of the smallest exploration companies and a very small
participant in the mineral exploration business. Being a junior mineral
exploration company, we compete with other similar mineral exploration companies
for financing and joint venture partners. Additionally, we compete for resources
such as professional geologists, camp staff, helicopters and mineral exploration
supplies.

Source and Availability of Raw Materials

Raw materials for our proposed mineral exploration program will
be items including camp equipment, sample bags, first aid supplies, groceries
and propane. All of these types of materials are readily available in either the
city of Vancouver, British Columbia or the town of Atlin, British Columbia from
a variety of suppliers.

Dependence on Major Customers

We do not have any customers.

Patents/Trade Marks/Licences/Franchises/Concessions/Royalty
Agreements or Labour Contracts

We have no intellectual property such as patents or trademarks.
Additionally, we have no royalty agreements or labor contracts.

Government Controls and Regulations

Our company will be required to comply with all regulations
defined in the Mineral Tenure Act (British Columbia). The Mineral Tenure
Act is well defined by the Province of British Columbia and is available from
our company upon request.

The effect of these existing regulations on our business is
that we are able to carry out our exploration program as described in our plan
of operation. However, it is possible that a future government could change the
regulations that could limit our ability to explore the Gate 1 Claim, but
management believes this is highly unlikely.

Management believes that our company is in substantial
compliance with all material current government controls and regulations at the
Gate 1 Claim.

Costs and Effects of Compliance with Environmental
Laws

We currently have no costs to comply with environmental laws
concerning our exploration program on the Gate 1 Claim.

Research and Development

We have not incurred any research or development expenditures
since our inception on May 26, 2006.

Number of Employees

Our only employee is our sole officer and director, Shaun P.
Davis. Management has retained in the past and will continue to retain the
services of independent geologists, prospectors and consultants on a contract
basis as required throughout the course of our exploration program.

REPORTS TO SECURITY HOLDERS

We are required to file annual, quarterly and current reports,
proxy statements and other information with the Securities and Exchange
Commission and our filings are available to the public over the internet at the
Securities and Exchange Commissions website at http://www.sec.gov. The public
may read and copy any materials filed by us with the Securities and

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 6
|----------------------- | ---------------------- | ------

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Exchange Commission at the Securities and Exchange Commissions
Public Reference Room at 100 F Street N.E. Washington D.C. 20549. The public may
obtain information on the operation of the Public Reference Room by calling the
Securities and Exchange Commission at 1-800-732-0330. The SEC also maintains an
Internet site that contains reports, proxy and formation statements, and other
information regarding issuers that file electronically with the SEC, at
http://www.sec.gov.

Item 1A. Risk Factors.

Much of the information included in this annual report includes
or is based upon estimates, projections or other "forward looking statements".
Such forward looking statements include any projections or estimates made by us
and our management in connection with our business operations. While these
forward-looking statements, and any assumptions upon which they are based, are
made in good faith and reflect our current judgment regarding the direction of
our business, actual results will almost always vary, sometimes materially, from
any estimates, predictions, projections, assumptions or other future performance
suggested herein.

Such estimates, projections or other "forward looking
statements" involve various risks and uncertainties as outlined below. We
caution the reader that important factors in some cases have affected and, in
the future, could materially affect actual results and cause actual results to
differ materially from the results expressed in any such estimates, projections
or other "forward looking statements".

Our common shares are considered speculative as our business is
still in an early growth stage of its development. Prospective investors should
consider carefully the risk factors set out below.

Because our auditors have issued a going concern opinion,
there is substantial uncertainty we will continue activities in which case you
could lose your investment.

Our auditors have issued a going concern opinion. This means
that there is substantial doubt that we can continue as an ongoing business for
the next twelve months. As such we may have to cease activities and you could
lose your investment.

Because the probability of an individual prospect ever
having reserves is extremely remote, any funds spent on exploration will
probably be lost.

The probability of an individual prospect ever having reserves
is extremely remote. In all probability, the property does not contain any
reserves. As such, any funds spent on exploration will probably be lost which
will result in a loss of your investment.

We lack an operating history and have losses which we expect
to continue into the future. As a result, we may have to suspend or cease
activities.

We were incorporated on May 26, 2006 and have not realized any
revenues. We have no operating history upon which an evaluation of our future
success or failure can be made. Our net loss from inception to May 31, 2009 is
$152,743. Our ability to achieve and maintain profitability and positive cash
flow is dependent upon:

- our ability to locate a profitable mineral property
- our ability to generate revenues
- our ability to reduce exploration costs.

Based upon current plans, we expect to incur operating losses
in future periods. This will happen because there are expenses associated with
the research and exploration of our mineral properties. As a result, we may not
generate revenues in the future. Failure to generate revenues will cause us to
suspend or cease activities.

Because we will have to spend additional funds to determine
if we have a reserve, if we can't raise the money we will have to cease
operations and you could lose your investment.

Even if we complete our current exploration programs and are
successful in identifying a mineral deposit, we will have to spend substantial
funds on further drilling and engineering studies before we will know if we have
a commercially viable mineral deposit, a reserve.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 7
|----------------------- | ---------------------- | ------

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Because we will have to spend additional funds to determine
if we have a reserve, if we cannoot raise the money we will have to cease
operations and you could lose your investment.

Even if we complete our current exploration programs and are
successful in identifying a mineral deposit, we will have to spend substantial
funds on further drilling and engineering studies before we will know if we have
a commercially viable mineral deposit, a reserve.

Because our management only has limited technical training
or experience in exploring for, starting, and operating an exploration program,
management's decisions and choices may not take into account standard
engineering or managerial approaches mineral exploration companies commonly use.
As a result, we may have to suspend or cease activities which will result in the
loss of your investment.

Our management has limited experience with exploring for,
starting, and operating an exploration program. Further, our management has no
direct training or experience in these areas and as a result may not be fully
aware of many of the specific requirements related to working within the
industry. Management's decisions and choices may not take into account standard
engineering or managerial approaches mineral exploration companies commonly use.
Consequently our activities, earnings and ultimate financial success could
suffer irreparable harm due to management' s lack of experience in this
industry. As a result we may have to suspend or cease activities which will
result in the loss of your investment.

Because we are small and do not have much capital, we may
have to limit our exploration activity which may result in a loss of your
investment.

Because we are small and do not have much capital, we must
limit our exploration activity. As such we may not be able to complete an
exploration program that is as thorough as we would like. In that event, an
existing reserve may go undiscovered. Without a reserve, we cannot generate
revenues and you will lose your investment.

We may not have access to all of the supplies and materials
we need to begin exploration which could cause us to delay or suspend
activities.

Competition and unforeseen limited sources of supplies in the
industry could result in occasional spot shortages of supplies, such as
dynamite, and certain equipment such as bulldozers and excavators that we might
need to conduct exploration. We have not attempted to locate or negotiate with
any suppliers of products, equipment or materials. If we cannot find the
products and equipment we need, we will have to suspend our exploration plans
until we do find the products and equipment we need.

Trading in our common shares on the OTC Bulletin Board is
limited and sporadic making it difficult for our shareholders to sell their
shares or liquidate their investments.

Our common shares are currently listed for public trading on
the OTC Bulletin Board. The trading price of our common shares has been subject
to wide fluctuations. Trading prices of our common shares may fluctuate in
response to a number of factors, many of which will be beyond our control. The
stock market has generally experienced extreme price and volume fluctuations
that have often been unrelated or disproportionate to the operating performance
of companies with no current business operation. There can be no assurance that
trading prices and price earnings ratios previously experienced by our common
shares will be matched or maintained. These broad market and industry factors
may adversely affect the market price of our common shares, regardless of our
operating performance.

In the past, following periods of volatility in the market
price of a companys securities, securities class-action litigation has often
been instituted. Such litigation, if instituted, could result in substantial
costs for us and a diversion of managements attention and resources.

Our stock is a penny stock. Trading of our stock may be
restricted by the SECs penny stock regulations which may limit a stockholders
ability to buy and sell our stock.

Our stock is a penny stock. The Securities and Exchange
Commission has adopted Rule 15g-9 which generally defines penny stock to be
any equity security that has a market price (as defined) less than $5.00 per
share or an exercise price of less than $5.00 per share, subject to certain
exceptions. Our securities are covered by the penny stock rules, which impose
additional sales practice requirements on broker-dealers who sell to persons
other than established customers and accredited investors. The term
accredited investor refers generally to institutions with assets in excess of
$5,000,000 or individuals with a net worth in excess of $1,000,000 or annual
income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 8
|----------------------- | ---------------------- | ------

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rules require a broker-dealer, prior to a transaction in a
penny stock not otherwise exempt from the rules, to deliver a standardized risk
disclosure document in a form prepared by the SEC which provides information
about penny stocks and the nature and level of risks in the penny stock market.
The broker-dealer also must provide the customer with current bid and offer
quotations for the penny stock, the compensation of the broker-dealer and its
salesperson in the transaction and monthly account statements showing the market
value of each penny stock held in the customers account. The bid and offer
quotations, and the broker-dealer and salesperson compensation information, must
be given to the customer orally or in writing prior to effecting the transaction
and must be given to the customer in writing before or with the customers
confirmation. In addition, the penny stock rules require that prior to a
transaction in a penny stock not otherwise exempt from these rules, the
broker-dealer must make a special written determination that the penny stock is
a suitable investment for the purchaser and receive the purchasers written
agreement to the transaction. These disclosure requirements may have the effect
of reducing the level of trading activity in the secondary market for the stock
that is subject to these penny stock rules. Consequently, these penny stock
rules may affect the ability of broker-dealers to trade our securities. We
believe that the penny stock rules discourage investor interest in and limit the
marketability of our common stock.

The Financial Industry Regulatory Authority, or FINRA, has
adopted sales practice requirements which may also limit a stockholder's ability
to buy and sell our stock.

In addition to the "penny stock" rules described above, FINRA
has adopted rules that require that in recommending an investment to a customer,
a broker-dealer must have reasonable grounds for believing that the investment
is suitable for that customer. Prior to recommending speculative low priced
securities to their non-institutional customers, broker-dealers must make
reasonable efforts to obtain information about the customer's financial status,
tax status, investment objectives and other information. Under interpretations
of these rules, FINRA believes that there is a high probability that speculative
low priced securities will not be suitable for at least some customers. FINRA
requirements make it more difficult for broker-dealers to recommend that their
customers buy our common stock, which may limit your ability to buy and sell our
stock and have an adverse effect on the market for our shares.

Item 1B. Unresolved Staff Comments.

None.

Item 2. Description of Property.

Our executive offices are located at 11730 NE 107th
Place, Kirkland, Washington, 98033. Our president, Shaun P. Davis, currently
provides this space to our company free of charge and is suitable for our
purposes. This space may not be available to our company free of charge in the
future.

We also have an interest in one mineral claim (Gate 1 Claim)
located in the Atlin Mining Division, British Columbia, Canada as described in
more detail above in Item 1. Description of Business.

Item 3. Legal Proceedings.

We know of no material, existing or pending legal proceedings
against us, nor are we involved as a plaintiff in any material proceeding or
pending litigation. There are no proceedings in which any of our directors,
officers or affiliates, or any registered or beneficial shareholder, is an
adverse party or has a material interest adverse to our company

Item 4. Submission of Matters to a Vote of Security
Holders.

No matter was submitted to a vote of security holders, through
the solicitation of proxies or otherwise, during the fourth quarter of the
fiscal year covered by this report.

PART II

Item 5. Market for Registrants Common Equity, Related
Stockholder Matters and Issuer Purchases of Equity Securities.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 9
|----------------------- | ---------------------- | ------

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Market Information

Our common stock has been quoted on the NASD OTC Bulletin Board
under the symbol GUGO since February 1, 2008. The table below gives the high
and low bid information for each fiscal quarter of trading and for the interim
period ended October 30, 2009. The bid information was obtained from Pink OTC
Markets Inc. and reflects inter-dealer prices, without retail mark-up, mark-down
or commission, and may not represent actual transactions.

High & Low
      BidsPeriod ended
    High
    Low30 October 2009
    $N/A
    $N/A31 August 2009
    $0.022
    $0.0231 May 2009
    $0.04
    $0.0229 February 2009
    $N/A
    $N/A30 November 2008
    $N/A
    $N/A31 August 2008
    $0.55
    $0.3031 May 2008
    $0.30
    $0.1029 February 2008
    none
    none


Holders of Record

There were 24 holders of record of our common stock as of
October 30, 2009 according to a shareholders list provided by our transfer
agent as of that date. The number of registered shareholders does not include
any estimate by our company of the number of beneficial owners of common stock
held in street name. The transfer agent for our common stock is Empire Stock
Transfer Inc., 1859 Whitney Mesa Drive, Henderson, Nevada, 89014 and their
telephone number is 702-818-5898.

Dividends

We have not paid any cash dividends on our common stock and
have no present intention of paying any dividends on the shares of our common
stock. Our current policy is to retain earnings, if any, for use in our
operations and in the development of our business. Our future dividend policy
will be determined from time to time by our board of directors.

Recent Sales of Unregistered Securities

On November 30, 2007, we issued 17,000,000 shares of our common
stock for $85,000.

On July 11, 2006, Gurata issued 3,000,000 shares of common
stock at a price of $0.001 per share to its former President, Feliberto
Gurat.

On August 23, 2006, Gurata issued 19,000,000 shares of common
stock at a price of $0.001 per share to its former President, Mr. Gurat.

With respect to all of the above offerings, our company
completed the offerings of the common stock pursuant to Rule 903 of Regulation S
of the Act on the basis that the sale of the common stock was completed in an
offshore transaction, as defined in Rule 902(h) of Regulation S. Our company
did not engage in any directed selling efforts, as defined in Regulation S, in
the United States in connection with the sale of the common stock. Each investor
represented to our company that the investor was not a U.S. person, as defined
in Regulation S, and was not acquiring the common stock for the account or
benefit of a U.S. person. The subscription agreement executed between our
company and the investor included statements that the securities had not been
registered pursuant to the Act and that the securities may not be offered or
sold in the United States unless the securities are registered under the Act or
pursuant to an exemption from the Act. The investor agreed by execution of the
subscription agreement for the common stock: (i) to resell the securities
purchased only in accordance with the provisions of Regulation S, pursuant to
registration under the Act or pursuant to an exemption from registration under
the Act; (ii) that Our company is required to refuse to register any sale of the
securities purchased unless the transfer is in accordance with the provisions of
Regulation S, pursuant to registration under the Act or pursuant to an exemption
from registration under the Act; and (iii) not to engage in hedging transactions
with regards to the securities purchased unless in compliance with the Act. All
securities issued were endorsed with a restrictive legend confirming that the
securities had been issued pursuant to Regulation S of the Act and could not be
resold without registration under the Act or an applicable exemption from the
registration requirements of the Act.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      10
|----------------------- | ---------------------- | -------------

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Each investor was given adequate access to sufficient
information about our company to make an informed investment decision. None of
the securities were sold through an underwriter and accordingly, there were no
underwriting discounts or commissions involved. No registration rights were
granted to any of the investor.

There are no outstanding options or warrants to purchase, or
securities convertible into, shares of our companys common stock.

Purchase of Equity Securities by the Issuer and Affiliated
Purchasers

We did not purchase any of our shares of common stock or other
securities during our fourth quarter of our fiscal year ended May 31, 2009.

Use of Proceeds

On September 6, 2007, the Securities and Exchange Commission
declared our Form SB-2 Registration Statement effective, file number 333-145498,
permitting our company to offer up to 20,000,000 shares of common stock at
$0.005 per share. There is no underwriter involved in this public offering. We
accepted 27 subscription agreements for a total of $85,000 and issued 17 million
shares. The offering period for the public offering expired on March 3,
2008.

Our company spent $12,764 of the proceeds on the offering
expenses, which included $4,574 on legal and registration fees, $6,000 on
accounting and auditing fees, $1,190 on electronic filing and printing fees, and
$1,000 on transfer agent fees. The net proceeds to our company after deducting
the offering expenses were $72,236. We also raised $17,000 in advances from an
unrelated party.

As of May 31, 2009, our company had spent $13,697 of the net
proceeds on a helicopter-supported magnetic survey on the Gate 1 Claim. In
addition, our company had also spent a total of $87,000 of the net proceeds on
working capital, which included $27,900 on consulting fees, $14,400 in legal
fees, $19,500 on administration fees, $16,500 in audit fees, $3,400 on mineral
title costs, $2,300 in tax preparation fees, and $2,900 in regulatory and filing
fees.

The reason for the material change in the use of proceeds from
what was described in our companys Registration Statement was because our
companys consulting geological technician recommended the helicopter-supported
magnetic survey on the Gate 1 Claim in order to gather more information on the
Gate 1 Claim to identify specific target areas for the rock sampling program in
the Phase One Exploration program.

Penny Stock Rules

Trading in our common stock is subject to the penny stock
rules. The SEC has adopted regulations that generally define a penny stock to be
any equity security that has a market price of less than $5.00 per share,
subject to certain exceptions. These rules require that any broker-dealer who
recommends our common stock to persons other than prior customers and accredited
investors, must, prior to the sale, make a special written suitability
determination for the purchaser and receive the purchasers written agreement to
execute the transaction. Unless an exception is available, the regulations
require the delivery, prior to any transaction involving a penny stock, of a
disclosure schedule explaining the penny stock market and the risks associated
with trading in the penny stock market. In addition, broker-dealers must
disclose commissions payable to both the broker-dealer and the registered
representative and current quotations for the securities they offer. The
additional burdens imposed upon broker-dealers by such requirements may
discourage broker-dealers from effecting transactions in our securities, which
could severely limit their market price and liquidity of our securities. The
application of the penny stock rules may affect your ability to resell our
securities.

Item 6. Selected Financial Data.

As a smaller reporting company, we are not required to
provide tabular disclosure obligations.

Item 7. Managements Discussion and Analysis of Financial
Condition and Results of Operations.

Overview

You should read this discussion and analysis in conjunction
with our audited financial statements and related notes included in this Form
10-K. The inclusion of supplementary analytical and related information may
require us to make estimates and

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      11
|----------------------- | ---------------------- | -------------

---

assumptions to enable us to fairly present, in all material
respects, our analysis of trends and expectations with respect to our results of
operations and financial position taken as a whole. Actual results may vary from
the estimates and assumptions we make.

Our principal business is the acquisition and exploration of
mineral resources in northwestern British Columbia, Canada.

We are in the early exploration stage. In an exploration stage
company, management devotes most of its time to conducting exploratory work and
developing its business. Our continuation as a going concern and our ability to
emerge from the exploration stage with our planned principal business activity
is dependent upon our continued financial support, ability to attain profitable
operations and ability to raise equity financing.

We, us or our means Gurata Gold, Inc. throughout the
balance of this document.

We were incorporated on May 26, 2006 in the state of Nevada.
Our principal business is the acquisition and exploration of mineral resources
in northern British Columbia. We have not presently determined whether our
properties contain mineral reserves that are economically recoverable. We have
not commenced significant operations and are considered an Exploration Stage
Company, as defined by SEC Industry Guide 7, and follows Statement of Financial
Accounting Standard (SFAS) No.7 Accounting and Reporting by Development Stage
Enterprises, where applicable. We have no operations and if our mineral
claims are not successfully developed we will not earn any revenues.

Results of Operations for our Years Ended May 31, 2009
and 2008

Our operating results for our years ended May 31, 2009, and
2008 and the changes between those periods for the respective items are
summarized as follows:

Year Ended
      May 31 2009 $
    Year Ended
      May 31, 2008 $
    Change Between Year Ended May 31,
      2009 and May 31, 2008 $Administrative
      fees
    10,875
    8,624
    2,251Bank charges and interest
    179
    158
    21Consulting
    7,391
    20,500
    (13,109)Exploration and Development
    1,716
    15,366
    (13,650)Office
    Nil
    123
    (123)Professional fees
    36,067
    28,698
    7,369Regulatory
    2,472
    2,616
    (144)Net loss for the period
    58,700
    76,085
    (17,385)


Revenues

We have not earned any revenues since our inception and we do
not anticipate earning revenues in the near future.

Operating Expenses

During the year ended May 31, 2009, our net loss decreased by
$17,385 a decrease of 23% from $76,085 for the year ended May 31, 2008 to
$58,700 for the year ended May 31, 2009.

The $17,385 decrease in our net loss for the year ending May
31, 2009 was primarily caused by a reduction in consulting fees and in
exploration and development expenses which were partially offset by increases in
professional fees and administrative fees.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      12
|----------------------- | ---------------------- | -------------

---

Over the next 12 months, we do not anticipate generating any
revenue and we expect our operating losses to be approximately $71,000. We plan
to continue to fund Phase Two of our mineral exploration program and our
operations through equity financing from the sale of our shares of common stock,
private advances or through the sale of a part interest in the Gate 1 Claim. We
do not have any financing arranged and cannot provide any assurance that we will
be able to raise sufficient funding from the sale of our shares of common stock,
that we will receive private advances or that we will be able to sell a part
interest in the Gate 1 Claim. Although we have not attempted to locate a joint
venture partner, if we enter into a joint venture arrangement, we would assign a
percentage of our interest in the Gate 1 Claim to our joint venture.

Sources and Uses of Cash

For the Year EndedMay 31, 2009
    
    
    May 31, 2008Net cash used in operating activities
    $
    (28,861
    )
    $
    (70,767
    )Net cash used in investing activities
    
    -
    
    
    -Net cash provided by financing activities
    
    -
    
    
    85,000Net (decrease)
      increase in cash during the period
    $
    (28,861
    )
    $
    14,233


Net Cash Used in Operating Activities

Net cash used in operating activities during the year ended May
31, 2009 was $28,861. We used cash primarily to pay down our accrued
administrative and professional fees by $1,799 and $28 respectively and to cover
our net loss of $58,700. These uses of cash were offset primarily by receipt of
deposits receivable of $6,199, an increase in accounts payable of $10,359 and an
increase in advances payable of $15,108.

Net cash used in operating activities during the year ended May
31, 2008 was $70,767. We used cash primarily to fund our net loss of $76,085,
payment of accrued liabilities of $15 and on an increase in deposit receivable
from our consulting geologist of $6,303 due to overpayment of a deposit on the
helicopter-supported magnetic survey. Included in our net cash used in
operations are increases in accounts payable of $7,960 primarily due to an
increase in professional fees; accrued administration fees of $3,675; and a $1
increase in the amount due to our former president

Liquidity and Financial Condition

At May 31, 2009, we had a cash balance of $1,339 and negative
cash flows from operations of $28,861. During the year ended May 31, 2009, we
funded our operations with cash that we received from the sale of common stock
in prior years and from advances from an unrelated party.

Working Capital

|                    |   | At      |   |   | At      | 
|------------------- | - | ------- | - | - | ------- | 
|                    |   | May 31, |   |   | May 31, | 
|                    |   | 2009    |   |   | 2008    | 
|Current assets      | $ | 1,443   |   | $ | 36,503  | 
|Current liabilities |   | 38,936  |   |   | 15,296  | 
|Working capital     | $ | (37,493 | ) | $ | 21,207  | 

Cash Flows

|                                              |   | Year Ended |  
|--------------------------------------------- | - | ---------- | -
|                                              |   | May 31,    |  
|                                              |   | 2009       |  
|Cash flows used in operating activities       | $ | (28,861    | )
|Cash flows used in investing activities       |   | Nil        |  
|Cash flows provided by financing activities   |   | Nil        |  
|Net increase (decrease) in cash during period | $ | (28,861    | )

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      13
|----------------------- | ---------------------- | -------------

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Operating Activities

Net cash used in operating activities was $28,861 for our year
ended May 31, 2009 compared with cash used in operating activities of $70,767 in
the same period in 2008. The decrease of $41,906 in operating activities is
mainly attributable to a decrease in exploration activity due to a lack of funds
and our success in extending the expiry date of our Gate 1 claim to February 10,
2012 with our earlier exploration expenditures.

Investing Activities

Net cash used in investing activities was $Nil for our year
ended May 31, 2009 compared to net cash used in investing activities of $Nil in
the same period in 2008.

Financing Activities

Net cash from financing activities was $Nil for our year ended
May 31, 2009 compared to $85,000 in the same period in 2008. The decrease of
$85,000 in financing activities is mainly attributable to a lack of interest in
the market for new projects such as ours due to the current economic
conditions.

Contractual Obligations

As a smaller reporting company, we are not required to
provide tabular disclosure obligations.

Going Concern

Due to lack of operating history and present inability to
generate revenues, there currently exists substantial doubt about our ability to
continue as a going concern. Even if we complete our current exploration program
and we are successful in identifying a mineral deposit, we will have to spend
substantial funds on further drilling and engineering studies before we will
know if we have a commercially viable mineral deposit or reserve.

The notes to our financial statements have been prepared on a
going concern basis, which implies that we will continue to realize our assets
and discharge our liabilities in the normal course of business. We have not
generated any revenues since inception and have never paid any dividends and we
are unlikely to pay dividends or generate earnings in the immediate or
foreseeable future. Our continuation as a going concern is dependent upon the
continued financial support from our shareholders, our ability to obtain the
necessary equity financing to continue operations, confirmation our interests in
the underlying properties, and the attainment of profitable operations. Our
ability to achieve and maintain profitability and positive cash flows is
dependent upon our ability to locate profitable mineral properties, generate
revenues from our mineral production and control production costs. Based upon
current plans, we expect to incur operating losses in future periods. At May 31,
2009, we had accumulated losses of $152,743 since inception. These factors raise
substantial doubt regarding our ability to continue as a going concern. There is
no assurance that we will be able to generate revenues in the future. These
financial statements do not give any effect to any adjustments that would be
necessary should we be unable to continue as a going concern and therefore be
required to realize our assets and discharge our liabilities in other than the
normal course of business and at amounts different from those reflected in the
accompanying financial statements.

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have
or are reasonably likely to have a current or future effect on our financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that are
material to stockholders.

Unproved Mineral Property

Gate 1 Claim

On December 15, 2006 we purchased the Gate 1 Claim near Atlin,
British Columbia, Canada, comprising an area of 376.488 hectares for $1,000. The
Gate 1 Claim is registered in the name of a former director and pursuant to a
trust agreement is held in trust on our behalf. See Exhibit 10.2  Trust
agreement for more details.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      14
|----------------------- | ---------------------- | -------------

---

At May 31, 2009, we had spent $21,058 on exploration work
including a helicopter-supported magnetic survey on the Gate 1 Claim. On
December 15, 2008, the Company registered exploration work performed on its
unproved mineral property with the Government of British Columbia, which allows
the Company to retain title to the claim until February 10, 2012.

Exploration Plan

On June 18, 2008, we received an exploration report on a
helicopter-supported magnetic survey on the Gate 1 Claim from our consulting
geologist. The report recommends prospecting and surveying the Gate 1 Claim. If
the prospecting is successful in discovering mineralization the report
recommends following up with an IP/resistivity survey in order to verify
magnetic anomalies and help determine the depth of the causative source.
Management will review the report in 2009 and have discussions with our
consulting geologist in order to determine the economic viability of the mineral
claim based on the data that was obtained in the helicopter-supported magnetic
survey.

Due to our current financial condition we do not have enough
cash to start Phase Two in July 2009 as disclosed in previous SEC filings. In
light of difficult global financial conditions we will delay our exploration
plans for one year.

The following is a brief summary of our four phase exploration
program:

| | 1. | Management will review the geological report about the
      helicopter-supported magnetic survey in 2009 and have discussions with our
      consulting geologist in order to determine the economic viability of the
      mineral claim based on the data that was obtained in magnetic survey. This
      phase will be called Phase One.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 2. | If Phase One is successful, we plan to conduct the second
      phase of our four phase exploration program starting in July 2010. This
      Phase Two exploration program is expected to cost approximately $17,200
      (CDN$20,000). A two-person field crew will fly to the Gate 1 Claim and
      will stay for a period of 15 days. During this period the crew will
      generally survey the Gate 1 Claim seeking any outcroppings and locating
      streams. An outcropping is a part of a rock formation that appears above
      the surface of the surrounding land. The crew will use global positioning
      equipment, take 100 geochemical samples and take 15 rock samples. All
      samples will be bagged and tagged for location, date and time for later
      analysis. After this period is over the crew will return to Atlin by float
      plane.
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 3. | The samples obtained during the Phase Two exploration
      program will be analyzed at a laboratory and we will review the results of
      the Phase Two exploration program in the winter of 2010. We will engage
      our consulting geologist to interpret the results of Phase Two. It is
      estimated that the analysis and interpretation of results will cost
      approximately $3,000 (CDN$3,500). If we are able to identify favorable
      rock formations and structures with elevated metal values we will plan and
      conduct a Phase Three program.                                                                                                                                                                                                                                                                                                    
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 4. | If the Phase Three program were to proceed, our
      consulting geologist has indicated that we should budget approximately
      $51,700 (CDN$60,000). If we proceed with our Phase Three program we would
      do so in July 2011. A small crew will fly to the Gate 1 Claim and will
      stay for a period of time to be determined. During this period the crew
      will continue with Phase Two field work including additional sampling and
      mapping, magnetometer survey, trenching and a small number of diamond
      drill holes. All samples will be bagged and tagged for location, date and
      time for later analysis. After this period is over the crew will return to
      Atlin by float plane.                                                                                                                                                 
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | 5. | In the case that the Phase Three exploration program
      takes place, we will review the results in winter 2011. If we are able to
      continue to confirm elevated metal values at specific hand drilled targets
      we will consider Phase Three a success and will plan for a Phase Four
      exploration program. The Phase Four exploration program is expected to
      cost at least $215,500 (CDN$250,000). At this stage, we would seek to link
      with a major resource company in a joint venture relationship in
      recognition of financing requirements. If we proceed with Phase Four of
      our exploration plan we would commence in July
2012.                                                                                                                                                                                                  

Challenges and Risks

On May 31, 2009, we had cash of approximately $1,339. We will
have to raise additional funds to cover our operating costs and commence Phase
Two of our mineral exploration program.

During the next 12 months, we do not anticipate generating any
revenue. If we require additional funds, we anticipate this additional funding
will come from equity financing from the sale of our common stock, private loans
or advances or the sale of part of our interest in the Gate 1 Claim. If we are
successful in completing an equity financing, existing shareholders will

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      15
|----------------------- | ---------------------- | -------------

---

experience dilution of their interest. We do not have any
financing arranged and cannot provide investors with any assurance that we will
be able to raise sufficient funding from the sale of our common stock or obtain
private loans or advances to fund our mineral exploration program. In the
absence of such financing, our business will fail.

We may consider entering into a joint venture partnership by
linking with a major resource company to provide the required funding to
complete our Phase Four exploration program. We have not undertaken any efforts
to locate a joint venture partner for Phase Four. If we enter into a joint
venture arrangement, we will assign a percentage of our interest in the Gate 1
Claim to the joint venture partner.

Based on the nature of our business, we anticipate incurring
operating losses in the foreseeable future. We base this expectation, in part,
on the fact that very few mineral claims in the exploration stage ultimately
develop into producing, profitable mines. Our future financial results are also
uncertain due to a number of factors, some of which are outside our control.
These factors include, but are not limited to:

- our ability to raise additional funding;
- the market price for gold;
- the results of our proposed exploration programs on the Gate 1 Claim; and
- our ability to find joint venture partners for the development of our
  property interests.

Foreign Exchange

We are subject to foreign exchange risk for transactions
denominated in foreign currencies. Foreign currency risk arises from the
fluctuation of foreign exchange rates and the degree of volatility of these
rates relative to the United States dollar. We do not believe that we have any
material risk due to foreign currency exchange.

Other Trends, Events or Uncertainties that may Impact
Results of Operations or Liquidity, Trends, Events, and Uncertainties

The economic crisis in the United States and the resulting
economic uncertainty and market instability may make it harder for us to raise
capital as and when we need it and have made it difficult for us to assess the
impact of the crisis on our operations or liquidity and if the prices we will
receive on the sale of minerals will exceed the cost of mineral exploitation. If
we are unable to raise cash, we may be required to cease our operations. Other
than as discussed in this annual report, we know of no other trends, events or
uncertainties that have or are reasonably likely to have a material impact on
our short-term or long-term liquidity.

Contingencies and Commitments

We had no commitments or contingencies at May 31, 2009.

Internal and External Sources of Liquidity

To date, we have funded our operations from the sale of our
common stock and from advances from an unrelated party.

Critical Accounting Policies

Concentration of Credit Risk

Financial instruments that potentially subject our company to
significant concentrations of credit risk consist principally of cash. At May
31, 2009 and 2008 our company had approximately $50 and $30,000, respectively in
cash that was not insured. This cash is on deposit with a large chartered
Canadian bank. As part of its cash management process, our company performs
periodic evaluations of the relative credit standing of this financial
institution. Our company has not experienced any losses in cash balances and
does not believe it is exposed to any significant credit risk on its cash.

Foreign Exchange Risk

Our company is subject to foreign exchange risk for
transactions denominated in foreign currencies. Foreign currency risk arises
from the fluctuation of foreign exchange rates and the degree of volatility of
these rates relative to the United States dollar. Our company does not believe
that it has any material risk due to foreign currency exchange.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      16
|----------------------- | ---------------------- | -------------

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Fair Value of Financial Instruments

Our companys financial instruments include cash, deposit
receivable, accounts payable, accrued liabilities and accrued administration.
The fair value of these financial instruments approximate their carrying values
due to their short maturities.

Foreign Currency Translation

Our companys functional and reporting currency is the United
States dollar. Monetary assets and liabilities denominated in foreign currencies
are translated in accordance with SFAS No. 52 Foreign Currency
Translation, using the exchange rate prevailing at the balance sheet date.
Gains and losses arising on settlement of foreign currency denominated
transactions or balances are included in the determination of income. Foreign
currency transactions are primarily undertaken in Canadian dollars. Our company
has not to the date of our audited financial statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.

Comprehensive Income (Loss)

Comprehensive Income (loss) reflects changes in equity that
results from transactions and economic events from non-owner sources. At May 31,
2009 and 2008, our company has no items that represent a comprehensive income
(loss) and, therefore, has not included a schedule of comprehensive income
(loss) in the financial statements.

Mineral Property Costs

Our company has been in the exploration stage since its
inception on May 26, 2006 and has not yet realized any revenues from its planned
operations. It is primarily engaged in the acquisition and exploration of mining
properties. Mineral property exploration costs are expensed as incurred. Mineral
property acquisition costs are initially capitalized when incurred using the
guidance in the Emerging Issues Task Force (EITF) 04-02, Whether Mineral Rights
are Tangible or Intangible Assets. Our company assesses the carrying costs for
impairment under Statement of Financial Accounting Standards (SFAS) No. 144,
Accounting for Impairment or Disposal of Long Lived Assets at each fiscal
quarter end. An impairment is recognized when the sum of the expected
undiscounted future cash flows is less than the carrying amount of the mineral
property. Impairment losses, if any, are measured as the excess of the carrying
amount of the mineral property over its estimated fair value (see Notes 5).

When it has been determined that a mineral property can be
economically developed as a result of establishing proven and probable reserves,
the costs then incurred to develop such property, are capitalized. Such costs
will be amortized using the units-of-production method over the estimated life
of the proven and probable reserves. If mineral properties are subsequently
abandoned or impaired, any capitalized costs will be charged to operations.

Asset Retirement Obligations

SFAS No. 143 (SFAS 143), Accounting for Asset Retirement
Obligations addresses financial accounting and reporting for obligations
associated with the retirement of tangible long-lived assets and the associated
asset retirement costs. Specifically, SFAS 143 requires that the fair value of a
liability for an asset retirement obligation be recognized in the period in
which it is incurred if a reasonable estimate of fair value can be made. In
addition, the asset retirement cost is capitalized as part of the assets
carrying value and subsequently allocated to expense over the assets useful
life. At May 31, 2009 and 2008, our company did not have any asset retirement
obligations.

Basic and Diluted Net Loss Per Common Share (EPS)

Basic net loss per share is computed by dividing the net loss
attributable to the common stockholders by the weighted average number of common
shares outstanding during the reporting period. Diluted net income per common
share includes the potential dilution that could occur upon exercise of the
options and warrants to acquire common stock computed using the treasury stock
method which assumes that the increase in the number of shares is reduced by the
number of shares which could have been repurchased by our company with the
proceeds from the exercise of the options and warrants (which were assumed to
have been made at the average market price of the common shares during the
reporting period).

Potential common shares are excluded from the diluted loss per
share computation in net loss periods as their inclusion would be
anti-dilutive.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      17
|----------------------- | ---------------------- | -------------

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At May 31, 2009, our company had issued 39,000,000 common
shares and had no outstanding options or warrants.

Stock-Based Compensation

In December 2004, the Financial Accounting Standards Board
(FASB) issued SFAS No. 123(R), Share-Based Payment (SFAS 123(R)), which
is a revision of SFAS No. 123, Accounting for Stock-Based Compensation.
SFAS 123(R) was effective for public companies for the first fiscal year
beginning after June 15, 2005, supersedes Accounting Principles Board Opinion
No. 25 (APB 25), Accounting for Stock Issued to Employees, and amends
SFAS 95, Statement of Cash Flows. SFAS 123(R) eliminates the option to
use APB 25s intrinsic value method of accounting and requires recording expense
for stock compensation based on a fair value based method.

The adoption of SFAS 123(R) did not have a material effect on
our companys financial condition or results of operations because since
inception our company has not entered into any share-based transactions.

Income Taxes

Income tax expense is based on pre-tax financial accounting
income. Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
bases. Deferred tax assets, including tax loss and credit carryforwards, and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled. The effect on deferred tax assets and liabilities of a
change in tax rates is recognized in income in the period that includes the
enactment date. Deferred income tax expense represents the change during the
period in the deferred tax assets and deferred tax liabilities. The components
of the deferred tax assets and liabilities are individually classified as
current and non-current based on their characteristics. Deferred tax assets are
reduced by a valuation allowance when, in the opinion of management, it is more
likely than not that some portion or all of the deferred tax assets will not be
realized.

Recently Adopted and Recently Issued Accounting
Standards

On March 1, 2008, we adopted Statement of Financial Accounting
Standards (SFAS) No. 157 (SFAS 157), Fair Value Measurements. SFAS 157
relates to financial assets and financial liabilities. In February 2008, the
Financial Accounting Standards Board (FASB) issued FASB Staff Position (FSP) No.
FAS 157-2, Effective Date of FASB Statement No. 157, which delayed the
effective date of SFAS 157 for all nonfinancial assets and nonfinancial
liabilities, except those that are recognized or disclosed at fair value in the
financial statements on at least an annual basis, until January 1, 2009 for
calendar year-end entities. Also in February 2008, the FASB issued FSP No. FAS
157-1, Application of FASB Statement No. 157 to FASB Statement No. 13 and
Other Accounting Pronouncements That Address Fair Value Measurements for
Purposes of Lease Classification or Measurement under Statement 13, which
states that SFAS No. 13, Accounting for Leases, (SFAS 13) and other
accounting pronouncements that address fair value measurements for purposes of
lease classification or measurement under SFAS 13 are excluded from the
provisions of SFAS 157, except for assets and liabilities related to leases
assumed in a business combination that are required to be measured at fair value
under SFAS No. 141, Business Combinations, (SFAS 141) or SFAS No. 141
(revised 2007), Business Combinations, (SFAS 141(R)).

SFAS 157 defines fair value, establishes a framework for
measuring fair value in accounting principles generally accepted in the United
States of America (GAAP), and expands disclosures about fair value measurements.
The provisions of this standard apply to other accounting pronouncements that
require or permit fair value measurements and are to be applied prospectively
with limited exceptions. The adoption of SFAS 157, as it relates to financial
assets and financial liabilities had no impact on our financial statements.

SFAS 157 defines fair value as the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. This standard is now the
single source in GAAP for the definition of fair value, except for the fair
value of leased property as defined in SFAS 13. SFAS 157 establishes a fair
value hierarchy that distinguishes between (1) market participant assumptions
developed based on market data obtained from independent sources (observable
inputs) and (2) an entitys own assumptions about market participant assumptions
developed based on the best information available in the circumstances
(unobservable inputs). The fair value hierarchy consists of three broad levels,
which gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1) and the lowest priority to
unobservable inputs (Level 3). The three levels of the fair value hierarchy
under SFAS 157 are described below:

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      18
|----------------------- | ---------------------- | -------------

---

- Level 1 - Unadjusted quoted prices in active markets that are accessible at
  the measurement date for identical, unrestricted assets or liabilities.
- Level 2 - Inputs other than quoted prices included within Level 1 that are
  observable for the asset or liability, either directly or indirectly,
  including quoted prices for similar assets or liabilities in active markets;
  quoted prices for identical or similar assets or liabilities in markets that
  are not active; inputs other than quoted prices that are observable for the
  asset or liability (e.g., interest rates); and inputs that are derived
  principally from or corroborated by observable market data by correlation or
  other means.
- Level 3 - Inputs that are both significant to the fair value measurement
  and unobservable.

In September 2006, the FASB issued SFAS 158 (SFAS 158),
Employers Accounting for Defined Benefit Pension and Other Postretirement
Plans, an amendment of FASB Statements No. 87, 88, 106, and 132(R).This
statement requires an employer to recognize the over funded or under funded
status of a defined benefit postretirement 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 of a
business entity. This statement also requires an employer to measure the funded
status of a plan as of the date of its year end statement of financial position,
with limited exceptions. We are required to initially recognize the funded
status of a defined benefit postretirement plan and to provide the required
disclosures as of the end of the fiscal year ending after December 15, 2006. The
requirement to measure plan assets and benefit obligations as of the date of the
employers fiscal year end statement of financial position is effective for
fiscal years ending after December 15, 2008, or June 1, 2008 for us. We do not
have a defined benefit postretirement plan and thus the Adoption of SFAS 158 did
not have a material impact on our financial statements.

In February 2007, the FASB issued SFAS No. 159 (SFAS 159),
The Fair Value Option for Financial Assets and Financial
LiabilitiesIncluding an amendment of FASB Statement No. 115.SFAS 159
permits measurement of certain financial assets and financial liabilities at
fair value. If the fair value option is elected, the unrealized gains and losses
are reported in earnings at each reporting date. Generally, the fair value
option may be elected on an instrument-by-instrument basis, as long as it is
applied to the instrument in its entirety. The fair value option election is
irrevocable, unless a new election date occurs. SFAS 159 was effective for us on
June 1, 2008. The adoption of SFAS 159 did not have a material impact on our
financial statements as we did not elect the fair value option for any of our
financial assets or liabilities.

In June 2007, the Emerging Issues Task Force (EITF) of the FASB
reached a consensus on Issue No. 07-3, Accounting for Nonrefundable Advance
Payments for Goods or Services Received for Use in Future Research and
Development Activities

(EITF 07-3). EITF 07-3 requires that non-refundable advance
payments for goods or services that will be used or rendered for future research
and development activities must be deferred and capitalized. As the related
goods are delivered or the services are performed, or when the goods or services
are no longer expected to be provided, the deferred amounts must be recognized
as an expense. This issue is effective for financial statements issued for
fiscal years beginning after December 15, 2007 and earlier application is not
permitted. This consensus is to be applied prospectively for new contracts
entered into on or after the effective date. We adopted EITF 07-03 on June 1,
2008. The adoption of EITF 07-03 did not have a material effect on our financial
statements.

In March 2008, the FASB, affirmed the consensus of FASB Staff
Position (FSP) Accounting Principles Board Opinion No. 14-1 (APB 14-1),
Accounting for Convertible Debt Instruments That May Be Settled in Cash upon
Conversion (Including Partial Cash Settlement), which applies to all
convertible debt instruments that have a net settlement feature; which
means that such convertible debt instruments, by their terms, may be settled
either wholly or partially in cash upon conversion. FSP APB 14-1 requires
issuers of convertible debt instruments that may be settled wholly or partially
in cash upon conversion to separately account for the liability and equity
components in a manner reflective of the issuers nonconvertible debt borrowing
rate. Previous guidance provided for accounting for this type of convertible
debt instrument entirely as debt. FSP APB 14-1 is effective for financial
statements issued for fiscal years beginning after December 15, 2008 and interim
periods within those fiscal years. The adoption of FSP APB 14-1 is not expected
to have a material impact on our financial statements.

In May, 2008, FASB issued SFAS No. 162, The Hierarchy of
Generally Accepted Accounting Principles (SFAS 162). SFAS 162 identifies the
sources of accounting principles and the framework for selecting the principles
used in the preparation of financial statements of nongovernmental entities that
are presented in conformity with generally accepted accounting principles (GAAP)
in the United States (the GAAP hierarchy). SFAS 162 is effective 60 days
following the U.S. Securities and Exchange Commissions (SECs) approval of the
Public Company Accounting Oversight Board amendments to AU Section 411, The
Meaning of Present Fairly in Conformity With Generally Accepted Accounting
Principles. We are currently reviewing the effect, if any, the proposed
guidance will have on our financial statement disclosures.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      19
|----------------------- | ---------------------- | -------------

---

In May, 2008, FASB issued SFAS No. 163, Accounting for
Financial Guarantee Insurance Contractsan interpretation of FASB Statement No.
60. Diversity exists in practice in accounting for financial guarantee
insurance contracts by insurance enterprises under FASB Statement No. 60,
Accounting and Reporting by Insurance Enterprises.That diversity results
in inconsistencies in the recognition and measurement of claim liabilities
because of differing views about when a loss has been incurred under FASB
Statement No. 5, Accounting for Contingencies.This Statement requires
that an insurance enterprise recognize a claim liability prior to an event of
default (insured event) when there is evidence that credit deterioration has
occurred in an insured financial obligation. This Statement also clarifies how
Statement 60 applies to financial guarantee insurance contracts, including the
recognition and measurement to be used to account for premium revenue and claim
liabilities. Those clarifications will increase comparability in financial
reporting of financial guarantee insurance contracts by insurance enterprises.
This Statement requires expanded disclosures about financial guarantee insurance
contracts. The accounting and disclosure requirements of the Statement will
improve the quality of information provided to users of financial statements.
SFAS 163 will be effective for financial statements issued for fiscal years
beginning after December 15, 2008, and interim periods within those fiscal
years; disclosure requirements in paragraphs 30(g) and 31 are effective for the
first period (including interim periods) beginning after May 23, 2008. We do not
expect the adoption of SFAS 163 to have a significant impact on our financial
statements.

On June 16, 2008, the FASB issued FASB Staff Position No. EITF
03-6-1 (FSP No. EITF 03-6-1), Determining Whether Instruments Granted in
Share-Based Payment Transactions Are Participating Securities, to address
the question of whether instruments granted in share-based payment transactions
are participating securities prior to vesting. FSP EITF 03-6-1 indicates that
unvested share-based payment awards that contain rights to dividend payments
should be included in earnings per share calculations. The guidance will be
effective for fiscal years beginning after December 15, 2008. We are currently
evaluating the requirements of FSP No. EITF 03-6-1 and the impact that its
adoption will have on our results of operations and financial position.

In June 2008, the FASB issued EITF Issue 07-5 (EITF 07-5),
Determining whether an Instrument (or Embedded Feature) is indexed to an
Entitys Own Stock. EITF No. 07-5 is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years. Early application is not permitted. Paragraph 11(a)
of SFAS No. 133 Accounting for Derivatives and Hedging Activities,
specifies that a contract that would otherwise meet the definition of a
derivative but is both (a) indexed to our companys own stock and (b) classified
in stockholders equity in the statement of financial position would not be
considered a derivative financial instrument. EITF 07-5 provides a new two-step
model to be applied in determining whether a financial instrument or an embedded
feature is indexed to an issuers own stock and thus able to qualify for the
SFAS No. 133 paragraph 11(a) scope exception. We are currently evaluating the
impact that adoption of EITF 07-5 will have on our financial statements.

In June 2008, FASB released a proposed SFAS, Disclosure of
Certain Loss Contingencies, an amendment of FASB Statements No. 5 and 141)
(the proposed Statement), for a comment period that ended during August
2008. The proposed Statement would (a) expand the population of loss
contingencies that are required to be disclosed, (b) require disclosure of
specific quantitative and qualitative information about those loss
contingencies, (c) require a tabular reconciliation of recognized loss
contingencies and (d) provide an exemption from disclosing certain required
information if disclosing that information would be prejudicial to an entity's
position in a dispute. The proposed Statement would be effective for financial
statements issued for fiscal years ending after December 15, 2008, and for
interim and annual periods in subsequent fiscal years. When and if the proposed
Statement is approved in final form by FASB, we will evaluate whether the
adoption of the proposed Statement will have any material impact on our
financial position and results of operations.

Item 7A. Quantitative and Qualitative Disclosures About
Market Risk.

As a smaller reporting company, we are not required to
provide disclosure for this item.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      20
|----------------------- | ---------------------- | -------------

---

Item 8. Financial Statements and Supplementary Data.

GURATA GOLD, INC.(AN EXPLORATION STAGE
COMPANY) FINANCIAL STATEMENTSFOR THE YEARS ENDED MAY 31 2009 AND
2008AND THE PERIOD FROM MAY 26, 2006 (INCEPTION) TO MAY 31,
2009

****



|REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 22
|------------------------------------------------------------- | --
|BALANCE
      SHEETS                                          | 23
|STATEMENTS
      OF OPERATIONS                                | 24
|STATEMENT
      OF STOCKHOLDERS EQUITY                       | 25
|STATEMENTS
      OF CASH FLOWS                                | 26
|NOTES
      TO FINANCIAL STATEMENTS                           | 27

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      21
|----------------------- | ---------------------- | -------------

---

To the Board of Directors and Stockholders of Gurata Gold,
Inc.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

We have audited the accompanying balance sheets of Gurata Gold,
Inc. (the Company), an exploration stage company, as of May 31, 2009 and 2008
and the statements of operations, stockholders equity, and cash flows for the
years ended May 31, 2009 and 2008 and for the period from inception (May 26,
2006) through May 31, 2009. These financial statements are the responsibility of
the Companys management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with the standards of the
Public Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audits to obtain reasonable assurance about
whether the financial statements are free of material misstatement. The company
is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting. Our audit included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the companys internal control
over financial reporting. Accordingly, we express no such opinion. An audit also
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position of Gurata Gold,
Inc., an exploration stage company, as of May 31, 2009 and 2008 and the results
of its operations and its cash flows for the years then ended and for the period
from inception (May 26, 2006) through May 31, 2009, in conformity with
accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. The Company does not
have the necessary working capital for its planned activity, which raises
substantial doubt about its ability to continue as a going concern. Managements
plans in regard to these matters are described in Note 3 to the financial
statements. These financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

Madsen & Associates CPAs, Inc. Salt Lake City, Utah
November 24, 2009

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      22
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.             
|------------------------------
|(AN EXPLORATION STAGE COMPANY)
|BALANCE SHEETS                

|                                                             |   | May 31,  |   |   | May 31, |  
|------------------------------------------------------------ | - | -------- | - | - | ------- | -
|                                                             |   | 2009     |   |   | 2008    |  
|                                                             |   |          |   |   |         |  
|ASSETS                                                       |   |          |   |   |         |  
|                                                             |   |          |   |   |         |  
|Current assets:                                              |   |          |   |   |         |  
|Cash                                                         | $ | 1,339    |   | $ | 30,200  |  
|Deposit receivable                                           |   | 104      |   |   | 6,303   |  
|                                                             |   |          |   |   |         |  
|                                                             |   |          |   |   |         |  
|Total assets                                                 | $ | 1,443    |   | $ | 36,503  |  
|                                                             |   |          |   |   |         |  
|LIABILITIES AND STOCKHOLDERS' (DEFICIT)                      |   |          |   |   |         |  
|EQUITY                                                       |   |          |   |   |         |  
|                                                             |   |          |   |   |         |  
|Current liabilities:                                         |   |          |   |   |         |  
|Accounts payable                                             | $ | 21,853   |   | $ | 11,494  |  
|Accrued administrative fees                                  |   | 1,876    |   |   | 3,675   |  
|Accrued professional fees                                    |   | 99       |   |   | 127     |  
|Advances payable                                             |   | 15,108   |   |   | -       |  
|                                                             |   |          |   |   |         |  
|                                                             |   |          |   |   |         |  
|Total liabilities                                            |   | 38,936   |   |   | 15,296  |  
|                                                             |   |          |   |   |         |  
|Commitments and contingencies                                |   | -        |   |   | -       |  
|                                                             |   |          |   |   |         |  
|Stockholders' (deficit) equity:                              |   |          |   |   |         |  
|Common stock; authorized 75,000,000; $0.001
      par value; |   |          |   |   |         |  
|39,000,000 shares issued and outstanding
      at            |   |          |   |   |         |  
|May 31, 2009 and May 31, 2008                                |   | 39,000   |   |   | 39,000  |  
|Additional paid in capital                                   |   | 76,250   |   |   | 76,250  |  
|Deficit accumulated during the exploration stage             |   | (152,743 | ) |   | (94,043 | )
|                                                             |   |          |   |   |         |  
|                                                             |   |          |   |   |         |  
|Total
      stockholders' (deficit) equity                   |   | (37,493  | ) |   | 21,207  |  
|                                                             |   |          |   |   |         |  
|Total liabilities
      and stockholders' (deficit) equity   | $ | 1,443    |   | $ | 36,503  |  

The accompanying notes are an integral part of these financial
statements

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      23
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.             
|------------------------------
|(AN EXPLORATION STAGE COMPANY)
|STATEMENTS OF OPERATIONS      

|                                                     |   | Year Ended   |  |   | From May 26, | 
|---------------------------------------------------- | - | ------------ |  | - | ------------ | 
|                                                     |   |              |  |   |              | 
|                                                     |   | May 31, 2009 |  |   | May 31, 2008 | 
|                                                     |   |              |  |   |              | 
|Operating Expenses:                                  |   |              |  |   |              | 
|Administrative fees                                  | $ | 10,875       |  | $ | 8,624        | 
|Bank charges and interest                            |   | 179          |  |   | 158          | 
|Consulting                                           |   | 7,391        |  |   | 20,500       | 
|Donated rent                                         |   |              |  |   | -            | 
|Donated services                                     |   |              |  |   | -            | 
|Exploration and development                          |   | 1,716        |  |   | 15,366       | 
|Office                                               |   | -            |  |   | 123          | 
|Professional fees                                    |   | 36,067       |  |   | 28,698       | 
|Regulatory                                           |   | 2,472        |  |   | 2,616        | 
|Impairment loss on mineral property costs            |   | -            |  |   | -            | 
|                                                     |   |              |  |   |              | 
|Net loss for the period                              | $ | 58,700       |  | $ | 76,085       | 
|                                                     |   |              |  |   |              | 
|                                                     |   |              |  |   |              | 
|Net loss per share:                                  |   |              |  |   |              | 
|Basic and diluted                                    | $ | 0.00         |  | $ | 0.00         | 
|                                                     |   |              |  |   |              | 
|Weighted average number of shares
      outstanding: |   |              |  |   |              | 
|Basic and diluted                                    |   | 39,000,000   |  |   | 32,007,650   | 

The accompanying notes are an integral part of these financial
statements

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      24
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                                             
|--------------------------------------------------------------
|(AN EXPLORATION STAGE COMPANY)                                
|STATEMENT OF STOCKHOLDER'S EQUITY                             
|FOR THE YEARS ENDED MAY 31, 2009 AND 2008 AND FOR             
|THE PERIOD FROM MAY 26, 2006 (INCEPTION) TO MAY 31,
      2009

|                                         |  |                     |  |   |             |  |   |            |  |   | Deficit     |   |   |         |  
|---------------------------------------- |  | ------------------- |  | - | ----------- |  | - | ---------- |  | - | ----------- | - | - | ------- | -
|                                         |  | Common Stock Issued |  |   | Accumulated |  |   |            | 
|                                         |  |                     |  |   |             |  |   | Additional |  |   | During the  |   |   |         |  
|                                         |  | Number of           |  |   |             |  |   | Paid-in    |  |   | Exploration |   |   |         |  
|                                         |  | Shares              |  |   | Amount      |  |   | Capital    |  |   | Stage       |   |   | Total   |  
|                                         |  |                     |  |   |             |  |   |            |  |   |             |   |   |         |  
|Balance at May 26, 2006 (Inception)      |  | -                   |  | $ | -           |  | $ | -          |  | $ | -           |   | $ | -       |  
|Net loss for the period                  |  | -                   |  |   | -           |  |   | -          |  |   | (500        | ) |   | (500    | )
|                                         |  |                     |  |   |             |  |   |            |  |   |             |   |   |         |  
|Balance at May 31, 2006                  |  | -                   |  |   | -           |  |   | -          |  |   | (500        | ) |   | (500    | )
|Common stock issued for
      cash       |  | 22,000,000          |  |   | 22,000      |  |   | -          |  |   | -           |   |   | 22,000  |  
|Donated services                         |  | -                   |  |   | -           |  |   | 8,250      |  |   | -           |   |   | 8,250   |  
|Net loss for the year ended May 31, 2007 |  | -                   |  |   | -           |  |   | -          |  |   | (17,458     | ) |   | (17,458 | )
|                                         |  |                     |  |   |             |  |   |            |  |   |             |   |   |         |  
|Balance at May 31, 2007                  |  | 22,000,000          |  |   | 22,000      |  |   | 8,250      |  |   | (17,958     | ) |   | 12,292  |  
|Common stock issued for cash             |  | 17,000,000          |  |   | 17,000      |  |   | 68,000     |  |   | -           |   |   | 85,000  |  
|Net loss for the year ended May 31, 2008 |  | -                   |  |   | -           |  |   | -          |  |   | (76,085     | ) |   | (76,085 | )
|                                         |  |                     |  |   |             |  |   |            |  |   |             |   |   |         |  
|Balance at May 31, 2008                  |  | 39,000,000          |  |   | 39,000      |  |   | 76,250     |  |   | (94,043     | ) |   | 21,207  |  
|Net loss for the year ended May 31, 2009 |  | -                   |  |   | -           |  |   | -          |  |   | (58,700     | ) |   | (58,700 | )
|                                         |  |                     |  |   |             |  |   |            |  |   |             |   |   |         |  
|Balance at May
      31, 2009            |  | 39,000,000          |  | $ | 39,000      |  | $ | 76,250     |  | $ | (152,743    | ) | $ | (37,493 | )

The accompanying notes are an integral part of these financial
statements

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      25
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.             
|------------------------------
|(AN EXPLORATION STAGE COMPANY)
|STATEMENTS OF CASH FLOWS      

|                                                                                  |   |              |   |   |                |   |   | From May 26, |  
|--------------------------------------------------------------------------------- | - | ------------ | - | - | -------------- | - | - | ------------ | -
|                                                                                  |   |              |   |   |                |   |   | 2006         |  
|                                                                                  |   | Year Ended   |   |   | (Inception) to |  
|                                                                                  |   | May 31, 2009 |   |   | May 31, 2008   |   |   | May 31, 2009 |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Cash flow from operating activities:                                              |   |              |   |   |                |   |   |              |  
|Net loss                                                                          | $ | (58,700      | ) | $ | (76,085        | ) | $ | (152,743     | )
|Adjustments to reconcile net loss to net
      cash used in operating activities: |   |              |   |   |                |   |   |              |  
|Donated services and rent                                                         |   | -            |   |   | -              |   |   | 8,250        |  
|Impairment loss on mineral property costs                                         |   | -            |   |   | -              |   |   | 1,000        |  
|Changes in operating assets and liabilities:                                      |   |              |   |   |                |   |   |              |  
|Deposit receivable                                                                |   | 6,199        |   |   | (6,303         | ) |   | (104         | )
|Accounts payable                                                                  |   | 10,359       |   |   | 7,960          |   |   | 21,853       |  
|Accrued administrative fees                                                       |   | (1,799       | ) |   | (15            | ) |   | 1,876        |  
|Accrued professional fees                                                         |   | (28          | ) |   | 3,675          |   |   | 99           |  
|Advances payable                                                                  |   | 15,108       |   |   | 1              |   |   | 15,108       |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Net cash used in operating activities                                             |   | (28,861      | ) |   | (70,767        | ) |   | (104,661     | )
|                                                                                  |   |              |   |   |                |   |   |              |  
|Cash flows from investing activities:                                             |   |              |   |   |                |   |   |              |  
|Acquisition of
      mineral properties                                           |   | -            |   |   | -              |   |   | (1,000       | )
|                                                                                  |   |              |   |   |                |   |   |              |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Net cash used in investing activities                                             |   | -            |   |   | -              |   |   | (1,000       | )
|                                                                                  |   |              |   |   |                |   |   |              |  
|Cash flows from financing activities:                                             |   |              |   |   |                |   |   |              |  
|Cash from issuance
      of common stock                                          |   | -            |   |   | 85,000         |   |   | 107,000      |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Net cash provided by financing activities                                         |   | -            |   |   | 85,000         |   |   | 107,000      |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Net (decrease) increase in cash during the
      period                           |   | (28,861      | ) |   | 14,233         |   |   | 1,339        |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Cash, beginning of period                                                         |   | 30,200       |   |   | 15,967         |   |   | -            |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Cash, end of period                                                               | $ | 1,339        |   | $ | 30,200         |   | $ | 1,339        |  
|                                                                                  |   |              |   |   |                |   |   |              |  
|Supplemental disclosure of cash flow
      information:                           |   |              |   |   |                |   |   |              |  
|Cash paid during the period                                                       |   |              |   |   |                |   |   |              |  
|Taxes                                                                             | $ | -            |   | $ | -              |   | $ | -            |  
|Interest                                                                          | $ | -            |   | $ | -              |   | $ | -            |  

The accompanying notes are an integral part of these financial
statements

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      26
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 1  ORGANIZATION AND BASIS OF PRESENTATION

Nature of Operations

Gurata Gold, Inc. (Gurata) was incorporated on May 26, 2006,
under the laws of the State of Nevada. Guratas principal business is the
acquisition and exploration of mineral resources in northwestern British
Columbia, Canada. Gurata has not presently determined whether its properties
contain mineral reserves that are economically recoverable. In these notes, the
terms Company, we, us or our mean Gurata.

Exploration Stage

These financial statements and related notes are presented in
accordance with accounting principles generally accepted in the United States of
America. The Company has not produced any revenues from its principal business
and is an exploration stage company as defined by SEC Industry Guide 7, and
follows Statement of Financial Accounting Standard (SFAS) No. 7, where
applicable.

The Company is in the early exploration stage. In an
exploration stage company, management devotes most of its time to conducting
exploratory work and developing its business. These financial statements have
been prepared on a going concern basis, which implies the Company will continue
to realize its assets and discharge its liabilities in the normal course of
business. The Company has never paid any dividends and is unlikely to pay
dividends or generate earnings in the immediate or foreseeable future. The
Companys continuation as a going concern and its ability to emerge from the
exploration stage with any planned principal business activity is dependent upon
the continued financial support of its shareholders and its ability to obtain
the necessary equity financing and attain profitable operations.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Reclassifications

Certain prior period amounts in the accompanying financial
statements have been reclassified to conform to the current periods
presentation. These reclassifications had no effect on the results of operations
or financial position for any period presented.

Cash and Cash Equivalents

For purposes of the balance sheet and statement of cash flows,
the Company considers all amounts on deposit with financial institutions and
highly liquid investments with maturities of 90 days or less to be cash
equivalents. At May 31, 2009 and 2008, the Company did not have any cash
equivalents

Financial Instruments

Concentration of Credit Risk

Financial instruments that potentially subject the Company to
significant concentrations of credit risk consist principally of cash. At May
31, 2009 and 2008 the Company had approximately $50 and $30,000, respectively in
cash that was not insured. This cash is on deposit with a large chartered
Canadian bank. As part of its cash management process, the Company performs
periodic evaluations of the relative credit standing of this financial
institution. The Company has not experienced any losses in cash balances and
does not believe it is exposed to any significant credit risk on its cash.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      27
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Financial Instruments (continued)

Foreign Exchange Risk

The Company is subject to foreign exchange risk for
transactions denominated in foreign currencies. Foreign currency risk arises
from the fluctuation of foreign exchange rates and the degree of volatility of
these rates relative to the United States dollar. The Company does not believe
that it has any material risk due to foreign currency exchange.

Fair Value of Financial
Instruments

On June   1, 2007, the Company adopted Statement of Financial Accounting  Standards (SFAS) No. 157 (SFAS 157), Fair Value Measurements.  SFAS  157 relates to financial assets and financial liabilities.  In  February 2008, the Financial Accounting Standards Board (FASB) issued FASB  Staff Position (FSP) No. FAS 157-2, Effective Date of FASB Statement No.  157, which delayed the effective date of SFAS 157 for all nonfinancial  assets and nonfinancial liabilities, except those that are recognized or  disclosed at fair value in the financial statements on at least an annual  basis, until January 1, 2009 for calendar year-end entities.  Also in  February 2008, the FASB issued FSP No. FAS 157-1, Application of FASB  Statement No. 157 to FASB Statement No. 13 and Other Accounting  Pronouncements That Address Fair Value Measurements for Purposes of Lease  Classification or Measurement under Statement 13, which states that SFAS  No. 13, Accounting for Leases, (SFAS 13) and other accounting  pronouncements that address fair value measurements for purposes of lease  classification or measurement under SFAS 13 are excluded from the provisions of  SFAS 157, except for assets and liabilities related to leases assumed in a  business combination that are required to be measured at fair value under SFAS  No. 141, Business Combinations, (SFAS 141) or SFAS No. 141 (revised  2007), Business Combinations, (SFAS 141(R)).

SFAS 157 defines fair value, establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (GAAP), and expands disclosures about fair value measurements.  The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements and are to be applied prospectively with limited exceptions.  The adoption of SFAS 157, as it relates to financial assets and financial liabilities, had no impact on the Company’s financial statements.

SFAS 157 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  This standard is now the single source in GAAP for the definition of fair value, except for the fair value of leased property as defined in SFAS 13. SFAS 157 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs).  The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).  The three levels of the fair value hierarchy under SFAS 157 are described below:

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      28
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  (continued)

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 - Inputs that are both significant to the fair value measurement and unobservable.

The Company’s financial instruments include cash, deposit receivable, accounts payable, accrued administrative fees, professional fees and advances payable. The fair value of these financial instruments approximate their carrying values due to their short maturities.

Foreign Currency Translation

The Companys functional and reporting currency is the United
States dollar. Monetary assets and liabilities denominated in foreign currencies
are translated in accordance with SFAS No. 52 Foreign Currency
Translation, using the exchange rate prevailing at the balance sheet date.
Gains and losses arising on settlement of foreign currency denominated
transactions or balances are included in the determination of income. Foreign
currency transactions are primarily undertaken in Canadian dollars. The Company
has not to the date of these financial statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.

Accounting Estimates

The preparation of the financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results could differ
from those estimates.

The Companys financial statements are based on a number of
estimates, including accruals for estimated administrative and professional
fees.

Comprehensive Income (Loss)

Comprehensive Income (loss) reflects changes in equity that
results from transactions and economic events from non-owner sources. At May 31,
2009 and 2008, the Company has no items that represent a comprehensive income
(loss) and, therefore, has not included a schedule of comprehensive income
(loss) in the financial statements.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      29
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Mineral Property Costs

The Company has been in the exploration stage since its
inception on May 26, 2006 and has not yet realized any revenues from its planned
operations. It is primarily engaged in the acquisition and exploration of mining
properties. Mineral property exploration costs are expensed as incurred. Mineral
property acquisition costs are initially capitalized when incurred using the
guidance in the Emerging Issues Task Force (EITF) 04-02, Whether Mineral Rights
are Tangible or Intangible Assets. The Company assesses the carrying costs for
impairment under Statement of Financial Accounting Standards (SFAS) No. 144,
Accounting for Impairment or Disposal of Long Lived Assets at each fiscal
quarter end. An impairment is recognized when the sum of the expected
undiscounted future cash flows is less than the carrying amount of the mineral
property. Impairment losses, if any, are measured as the excess of the carrying
amount of the mineral property over its estimated fair value (see Note 5).

When it has been determined that a mineral property can be
economically developed as a result of establishing proven and probable reserves,
the costs then incurred to develop such property, are capitalized. Such costs
will be amortized using the units-of-production method over the estimated life
of the proven and probable reserves. If mineral properties are subsequently
abandoned or impaired, any capitalized costs will be charged to operations.

Asset Retirement Obligations

SFAS No. 143 (SFAS 143), Accounting for Asset Retirement
Obligations addresses financial accounting and reporting for obligations
associated with the retirement of tangible long-lived assets and the associated
asset retirement costs. Specifically, SFAS 143 requires that the fair value of a
liability for an asset retirement obligation be recognized in the period in
which it is incurred if a reasonable estimate of fair value can be made. In
addition, the asset retirement cost is capitalized as part of the assets
carrying value and subsequently allocated to expense over the assets useful
life. At May 31, 2009 and 2008, the Company did not have any asset retirement
obligations.

Basic and Diluted Net Loss Per Common Share (EPS)

Basic net loss per share is computed by dividing the net loss
attributable to the common stockholders by the weighted average number of common
shares outstanding during the reporting period. Diluted net income per common
share includes the potential dilution that could occur upon exercise of the
options and warrants to acquire common stock computed using the treasury stock
method which assumes that the increase in the number of shares is reduced by the
number of shares which could have been repurchased by the Company with the
proceeds from the exercise of the options and warrants (which were assumed to
have been made at the average market price of the common shares during the
reporting period).

Potential common shares are excluded from the diluted loss per
share computation in net loss periods as their inclusion would be
anti-dilutive.

At May 31, 2009, the Company had issued 39,000,000 common
shares and had no outstanding options or warrants.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      30
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Stock-Based Compensation

In December 2004, the Financial Accounting Standards Board
(FASB) issued SFAS No. 123(R), Share-Based Payment (SFAS 123(R)), which
is a revision of SFAS No. 123, Accounting for Stock-Based Compensation.
SFAS 123(R) was effective for public companies for the first fiscal year
beginning after June 15, 2005, supersedes Accounting Principles Board Opinion
No. 25 (APB 25), Accounting for Stock Issued to Employees, and amends
SFAS 95, Statement of Cash Flows. SFAS 123(R) eliminates the option to
use APB 25s intrinsic value method of accounting and requires recording expense
for stock compensation based on a fair value based method.

The adoption of SFAS 123(R) did not have a material effect on
the Companys financial condition or results of operations because since
inception the Company has not entered into any share-based transactions.

Income Taxes

Income tax expense is based on pre-tax financial accounting
income. Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
bases. Deferred tax assets, including tax loss and credit carryforwards, and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled. The effect on deferred tax assets and liabilities of a
change in tax rates is recognized in income in the period that includes the
enactment date. Deferred income tax expense represents the change during the
period in the deferred tax assets and deferred tax liabilities. The components
of the deferred tax assets and liabilities are individually classified as
current and non-current based on their characteristics. Deferred tax assets are
reduced by a valuation allowance when, in the opinion of management, it is more
likely than not that some portion or all of the deferred tax assets will not be
realized.

Recent Accounting Pronouncements

In September 2006, the FASB issued SFAS 158 (SFAS 158),
Employers Accounting for Defined Benefit Pension and Other Postretirement
Plans, an amendment of FASB Statements No. 87, 88, 106, and 132(R).This
statement requires an employer to recognize the over funded or under funded
status of a defined benefit postretirement 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 of a
business entity. This statement also requires an employer to measure the funded
status of a plan as of the date of its year end statement of financial position,
with limited exceptions. The Company will be required to initially recognize the
funded status of a defined benefit postretirement plan and to provide the
required disclosures as of the end of the fiscal year ending after December 15,
2006. The requirement to measure plan assets and benefit obligations as of the
date of the employers fiscal year end statement of financial position is
effective for fiscal years ending after December 15, 2008, or June 1, 2008 for
the Company. We do not have a defined benefit postretirement plan and thus the
Adoption of SFAS 158 did not have a material impact on our financial
statements.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      31
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Recent Accounting Pronouncements (continued)

In February 2007, the FASB issued SFAS No. 159 (SFAS 159),
The Fair Value Option for Financial Assets and Financial
LiabilitiesIncluding an amendment of FASB Statement No. 115.SFAS 159
permits measurement of certain financial assets and financial liabilities at
fair value. If the fair value option is elected, the unrealized gains and losses
are reported in earnings at each reporting date. Generally, the fair value
option may be elected on an instrument-by-instrument basis, as long as it is
applied to the instrument in its entirety. The fair value option election is
irrevocable, unless a new election date occurs. SFAS 159 was effective for the
Company on June 1, 2008. The adoption of SFAS 159 did not have a material impact
on the Companys financial statements as the Company did not elect the fair
value option for any of its financial assets or liabilities.

In June 2007, the Emerging Issues Task Force (EITF) of the FASB
reached a consensus on Issue No. 07-3, Accounting for Nonrefundable Advance
Payments for Goods or Services Received for Use in Future Research and
Development Activities(EITF 07-3). EITF 07-3 requires that non-refundable
advance payments for goods or services that will be used or rendered for future
research and development activities must be deferred and capitalized. As the
related goods are delivered or the services are performed, or when the goods or
services are no longer expected to be provided, the deferred amounts must be
recognized as an expense. This issue is effective for financial statements
issued for fiscal years beginning after December 15, 2007 and earlier
application is not permitted. This consensus is to be applied prospectively for
new contracts entered into on or after the effective date. The Company adopted
EITF 07-03 on June 1, 2008. The adoption of EITF 07-03 did not have a material
effect on our financial statements.

In March 2008, the FASB, affirmed the consensus of FASB Staff
Position (FSP) Accounting Principles Board Opinion No. 14-1 (APB 14-1),
Accounting for Convertible Debt Instruments That May Be Settled in Cash upon
Conversion (Including Partial Cash Settlement), which applies to all
convertible debt instruments that have a net settlement feature; which
means that such convertible debt instruments, by their terms, may be settled
either wholly or partially in cash upon conversion. FSP APB 14-1 requires
issuers of convertible debt instruments that may be settled wholly or partially
in cash upon conversion to separately account for the liability and equity
components in a manner reflective of the issuers nonconvertible debt borrowing
rate. Previous guidance provided for accounting for this type of convertible
debt instrument entirely as debt. FSP APB 14-1 is effective for financial
statements issued for fiscal years beginning after December 15, 2008 and interim
periods within those fiscal years. We do not expect the adoption of FSP APB 14-1
to have a material impact on our financial statements.

In May, 2008, FASB issued SFAS No. 162, The Hierarchy of
Generally Accepted Accounting Principles (SFAS 162). SFAS 162 identifies the
sources of accounting principles and the framework for selecting the principles
used in the preparation of financial statements of nongovernmental entities that
are presented in conformity with generally accepted accounting principles (GAAP)
in the United States (the GAAP hierarchy). SFAS 162 is effective 60 days
following the U.S. Securities and Exchange Commissions (SECs) approval of the
Public Company Accounting Oversight Board amendments to AU Section 411, The
Meaning of Present Fairly in Conformity With Generally Accepted Accounting
Principles. The Company is currently reviewing the effect, if any; the
proposed guidance will have on its financial statement disclosures.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      32
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Recent Accounting Pronouncements (continued)

In May, 2008, FASB issued SFAS No. 163, Accounting for
Financial Guarantee Insurance Contractsan interpretation of FASB Statement No.
60. Diversity exists in practice in accounting for financial guarantee
insurance contracts by insurance enterprises under FASB Statement No. 60,
Accounting and Reporting by Insurance Enterprises.That diversity results
in inconsistencies in the recognition and measurement of claim liabilities
because of differing views about when a loss has been incurred under FASB
Statement No. 5, Accounting for Contingencies.This Statement requires
that an insurance enterprise recognize a claim liability prior to an event of
default (insured event) when there is evidence that credit deterioration has
occurred in an insured financial obligation. This Statement also clarifies how
Statement 60 applies to financial guarantee insurance contracts, including the
recognition and measurement to be used to account for premium revenue and claim
liabilities. Those clarifications will increase comparability in financial
reporting of financial guarantee insurance contracts by insurance enterprises.
This Statement requires expanded disclosures about financial guarantee insurance
contracts. The accounting and disclosure requirements of the Statement will
improve the quality of information provided to users of financial statements.
SFAS 163 will be effective for financial statements issued for fiscal years
beginning after December 15, 2008, and interim periods within those fiscal
years; disclosure requirements in paragraphs 30(g) and 31 are effective for the
first period (including interim periods) beginning after May 23, 2008. The
adoption of SFAS 163 did not have a significant impact on our financial
statements.

On June 16, 2008, the FASB issued FASB Staff Position No. EITF
03-6-1 (FSP No. EITF 03-6-1), Determining Whether Instruments Granted in
Share-Based Payment Transactions Are Participating Securities, to address
the question of whether instruments granted in share-based payment transactions
are participating securities prior to vesting. FSP EITF 03-6-1 indicates that
unvested share-based payment awards that contain rights to dividend payments
should be included in earnings per share calculations. The guidance will be
effective for fiscal years beginning after December 15, 2008. The Company is
currently evaluating the requirements of FSP No. EITF 03-6-1 and the impact that
its adoption will have on its results of operations and financial position.

In June 2008, the FASB issued EITF Issue 07-5 (EITF 07-5),
Determining whether an Instrument (or Embedded Feature) is indexed to an
Entitys Own Stock. EITF No. 07-5 is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years. Early application is not permitted. Paragraph 11(a)
of SFAS No. 133 Accounting for Derivatives and Hedging Activities,
specifies that a contract that would otherwise meet the definition of a
derivative but is both (a) indexed to the Companys own stock and (b) classified
in stockholders equity in the statement of financial position would not be
considered a derivative financial instrument. EITF 07-5 provides a new two-step
model to be applied in determining whether a financial instrument or an embedded
feature is indexed to an issuers own stock and thus able to qualify for the
SFAS No. 133 paragraph 11(a) scope exception. The Company is currently
evaluating the impact that adoption of EITF 07-5 will have on its financial
statements.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      33
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,
continued

Recent Accounting Pronouncements, continued

In June 2008, FASB released a proposed SFAS, Disclosure of
Certain Loss Contingencies, an amendment of FASB Statements No. 5 and 141
(the proposed Statement), for a comment period that ended during August
2008. The proposed Statement would (a) expand the population of loss
contingencies that are required to be disclosed, (b) require disclosure of
specific quantitative and qualitative information about those loss
contingencies, (c) require a tabular reconciliation of recognized loss
contingencies and (d) provide an exemption from disclosing certain required
information if disclosing that information would be prejudicial to an entity's
position in a dispute. The proposed Statement would be effective for financial
statements issued for fiscal years ending after December 15, 2008, and for
interim and annual periods in subsequent fiscal years. When and if the proposed
Statement is approved in final form by FASB, the Company will evaluate whether
the adoption of the proposed Statement will have any material impact on its
financial position and results of operations.

In May 2009, the FASB issued Statement of Financial Accounting Standards No. 165, Subsequent Events (“SFAS 165”), which establishes general standards of accounting for, and requires disclosure of, events that occur after the balance sheet date but before financial statements are issued or are available to be issued.  The Company does not expect the adoption of SFAS 165 to have a material effect on its financial statements.

NOTE 3  GOING CONCERN

These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business.  The Company has not generated any revenues since inception and has never paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future.  The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, confirmation of the Company’s interests in the underlying properties, and the attainment of profitable operations.  The Company’s ability to achieve and maintain profitability and positive cash flows is dependent upon its ability to locate profitable mineral properties, generate revenues from its mineral production and control production costs.  Based upon current plans, the Company expects to incur operating losses in future periods.  At May 31, 2009, the Company had an accumulated deficit of $152,743  since inception.  These factors raise substantial doubt regarding the Company’s ability to continue as a going concern.  There is no assurance that the Company will be able to generate revenues in the future.  These financial statements do not give any effect to any adjustments that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements.

NOTE 4 - RELATED PARTY TRANSACTIONS

All of the Companys mineral claims are registered in the name
of a former director of the Company and pursuant to a trust agreement are held
in trust on behalf of the Company (see Note 5).

At May 31, 2009 and May 31 2008, the Company was indebted to a
former director in the amounts of $59 and $34, respectively. This debt was
reclassified to accounts payable at November 30, 2008.

At May 31, 2009 and May 31 2008, the Company was indebted to its director in the amounts of $0.  This director was paid $4,941 by the Company for consulting services for the year ended May 31, 2009.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      34
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 5  UNPROVED MINERAL PROPERTY

On December 15, 2006, the Company acquired the Gate 1 mineral
claim near Atlin, British Columbia, Canada, comprising an area of 376.49
hectares for $1,000. During the year ended May 31, 2007, the Company determined
that the carrying amount of the mineral property was in excess of its estimated
fair value and recognized an impairment loss on mineral property costs of $1,000
(see Notes 2 and 4).

The Company is required to incur approximately $2,748
(CDN$3,012) on or before February 10, 2010 and each year thereafter in
exploration expenditures or pay the equivalent sum in cash in lieu of work, in
order to retain title to the claim.

Due to prior work that was done on the claim the Companys
mineral claim is in good standing until February 10, 2012.

NOTE 6 - COMMON STOCK

On July 11, 2006 and August 23, 2006, the Company issued
3,000,000 and 19,000,000 common shares respectively, at $0.001 per share for
cash of $22,000.

On November 30, 2007, the Company issued 17,000,000 common
shares at $0.005 per share for cash of $85,000.

NOTE 7  INCOME TAXES

Income tax expense has not been recognized for the years ended
May 31, 2009 and 2008 and no taxes were payable at May 31, 2009 or 2008, because
the Company has incurred net operating losses (NOLs) since its inception.

The Companys operating losses for the years ended May 31, 2009
and 2008, were:

2009
    
    
    2008$
    58,700
    
    $
    76,085$
    58,700
    
    $
    76,085


At May 31, 2009 and 2008 the Company had the following deferred
tax assets related to NOLs. A 100% valuation allowance has been established as
management believes it is more likely than not that the deferred tax assets will
not be realized.

2009
    
    
    2008Federal loss carryforwards
    $
    51,933
    
    $
    31,975Less: valuation allowance
    
    (51,933
    )
    
    (31,975
    )$
    -
    
    $
    -




|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      35
|----------------------- | ---------------------- | -------------

---

|GURATA GOLD, INC.                
|---------------------------------
|(AN EXPLORATION STAGE COMPANY)   
|NOTES TO THE FINANCIAL STATEMENTS
|MAY 31, 2009                     

NOTE 7  INCOME TAXES (continued)

The Companys valuation allowance increased during 2009 and
2008 by $19,958 and $25,869 respectively.

The Company had the following NOL carryforwards at May 31:

2009
    
    
    2008$
    152,793
    
    $
    94,043$
    152,793
    
    $
    94,043


The federal NOLs expire through May 31, 2030. The Company is a
Nevada corporation and is not subject to state taxes.



|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      36
|----------------------- | ---------------------- | -------------

---

Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.

Since inception on May 26, 2006, there were no disagreements
with our accountants on any matter of accounting principle or practices,
financial statement disclosure or auditing scope or procedure. In addition,
there were no reportable events as described in Item 304(b) of Regulation S-K
that occurred within Guratas two most recent fiscal years and the subsequent
interim periods. Guratas Independent Registered Public Accounting Firm from
inception to the current date is Madsen & Associates CPAs, Inc., 684 East
Vine Street, #3, Murray, Utah, 84107.

Item 9A. Controls and Procedures.

Disclosure Controls and Procedures

In connection with the preparation of this annual report on
Form 10-K, an evaluation was carried out by our management, with the
participation of the Chief Executive Officer (our principal executive officer
and our principal financial officer and our principal accounting officer), of
the effectiveness of our disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (Exchange
Act)) as of May 31, 2009. Disclosure controls and procedures are designed
to ensure that information required to be disclosed in reports filed or
submitted under the Exchange Act is recorded, processed, summarized, and
reported within the time periods specified in the SEC rules and forms and that
such information is accumulated and communicated to management, including the
Chief Executive Officer (our principal executive officer and our principal
financial officer and our principal accounting officer), to allow timely
decisions regarding required disclosures.

Based on that evaluation, our management concluded, as of the
end of the period covered by this report, that our disclosure controls and
procedures were not effective in recording, processing, summarizing, and
reporting information required to be disclosed, within the time periods
specified in the SEC rules and forms and that such information was not
accumulated or communicated to management to allow timely decisions regarding
required disclosure, for the reasons listed below in managements report on
internal control over financial reporting.

Managements Report on Internal Controls over Financial
Reporting

Management is responsible for establishing and maintaining
adequate internal control over financial reporting, as required by
Sarbanes-Oxley (SOX) Section 404 A. Our internal control over financial
reporting is a process designed under the supervision of our Chief Executive
Officer and Chief Financial Officer to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of our financial
statements for external purposes in accordance with U.S. generally accepted
accounting principles. Internal control over financial reporting includes those
policies and procedures that:

- pertain to the maintenance of records that in reasonable detail accurately
  and fairly reflect the transactions and dispositions of our assets;
- provide reasonable assurance that transactions are recorded as necessary to
  permit preparation of the financial statements in accordance with generally
  accepted accounting principles, and that receipts and expenditures are being
  made only in accordance with authorizations of management and our Board of
  Directors; and
- provide reasonable assurance regarding prevention or timely detection of
  unauthorized acquisition, use, or disposition of our assets that could have a
  material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions or that the
degree of compliance with the policies or procedures may deteriorate.

Management conducted an assessment of the effectiveness of the
Companys internal control over financial reporting as of May 31, 2009, based on
criteria established in Internal Control Integrated Frameworkissued by
the Committee of Sponsoring Organizations of the Treadway Commission
(COSO). As a result of this assessment, management identified material
weaknesses in internal control over financial reporting.

A material weakness is a control deficiency, or a combination
of deficiencies, in internal control over financial reporting such that there is
a reasonable possibility that a material misstatement of our annual or interim
financial statements will not be prevented or detected on a timely basis.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      37
|----------------------- | ---------------------- | -------------

---

The matters involving internal controls and procedures that
management considered to be material weaknesses under the standards of the
Public Company Accounting Oversight Board were: (1) lack of a functioning audit
committee and lack of a majority of outside directors on our board of directors,
resulting in ineffective oversight in the establishment and monitoring of
required internal controls and procedures; (2) inadequate segregation of duties
consistent with control objectives; (3) insufficient written policies and
procedures for accounting and financial reporting with respect to the
requirements and application of US GAAP and SEC disclosure requirements; and (4)
ineffective controls over period end financial disclosure and reporting
processes. The aforementioned material weaknesses were identified by our Chief
Financial Officer in connection with the audit of its financial statements as of
May 31, 2009 and these matters were communicated to its management.

As a result of the material weaknesses in internal control over
financial reporting described above, management has concluded that, as of May
31, 2009, Guratas internal control over financial reporting was not effective
based on the criteria in Internal Control  Integrated Frameworkissued
by COSO.

Management believes that the material weaknesses set forth
above did not have an affect on our financial results. Management also believes
that the lack of a functioning audit committee and lack of a majority of outside
directors on our board of directors caused and continues to cause an ineffective
oversight in the establishment and monitoring of the required internal controls
over financial reporting.

We are committed to improving our financial organization. As
part of this commitment and when funds are available, we will create a position
within our accounting and finance team to segregate duties consistent with our
control objectives and will increase our personnel resources and technical
accounting expertise within the accounting function by: i) appointing one or
more outside directors to our board of directors who will also be appointed to
the audit committee of our company resulting in a fully functioning audit
committee who will undertake the oversight in the establishment and monitoring
of required internal controls over financial reporting; and ii) preparing and
implementing sufficient written policies and checklists that will set forth
procedures for accounting and financial reporting with respect to the
requirements and application of US GAAP and SEC disclosure requirements.

Management believes that the appointment of one or more outside
directors, who will also be appointed to a fully functioning audit committee,
will remedy the lack of a functioning audit committee and a lack of a majority
of outside directors on our Board. In addition, management believes that
preparing and implementing sufficient written policies and checklists will
remedy the following material weaknesses: (i) insufficient written policies and
procedures for accounting and financial reporting with respect to the
requirements and application of US GAAP and SEC disclosure requirements; and
(ii) ineffective controls over period end financial close and reporting
processes. Further, management believes that the hiring of additional personnel
who have the technical expertise and knowledge will result proper segregation of
duties and provide more checks and balances within the department. Additional
personnel will also provide the cross training needed to support our company if
personnel turn-over issues within the department occur. This coupled with the
appointment of additional outside directors will greatly decrease any control
and procedure issues our company may encounter in the future.

Management will continue to monitor and evaluate the
effectiveness of our internal controls over financial reporting on an ongoing
basis and is committed to taking further action and implementing additional
enhancements or improvements, as necessary and as funds allow.

Our independent auditors have not issued an attestation report
regarding our internal control over financial reporting. As a result, this
annual report does not include such a report. We are not required to have, nor
have we, engaged our independent registered public accounting firm to perform an
audit of internal control over financial reporting pursuant to the rules of the
Securities and Exchange Commission that permit our company to provide only
managements report in this annual report.

Changes in Internal Controls

There were no changes in our internal controls over financial
reporting (as defined in Rule 13a-15(f) of the Exchange Act) during the quarter
ended May 31, 2009, that materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.

Subsequent to May 31, 2009, management completed its assessment
of our internal controls over financial reporting and found the internal
controls to be ineffective. As a result of such assessment, in September 2009
management decided that certain changes to our internal controls over financial
reporting are required, as discussed above, and those changes should materially
affect our internal control over financial reporting in the future when
implemented.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      38
|----------------------- | ---------------------- | -------------

---

Item 9B. Other Information

During the fourth quarter of the fiscal year covered by this
Form 10-K, we reported all information that was required to be disclosed in a
report on Form 8-K.

PART III

Item 10. Directors, Executive Officers, and Corporate
Governance.

All directors of our Company hold office until the next annual
meeting of the security holders or until their successors have been elected and
qualified. The officers of our Company are appointed by our board of directors
and hold office until their death, resignation or removal from office. Our
directors and executive officers, their ages, positions held, and duration as
such, are as follows:

Name
    Position Held with the Company
    Age
    Date First Elected or
      AppointedShaun P. Davis
    President, CEO, CFO, Treasurer, Corporate
      Secretary and Director
    43
    August 7, 2008


Business Experience

The following is a brief account of the education and business
experience during at least the past five years of each director, executive
officer and key employee of our Company, indicating the persons principal
occupation during that period, and the name and principal business of the
organization in which such occupation and employment were carried out.

Shaun P. Davis- President, CEO, CFO, Treasurer, Corporate
Secretary and Director

Mr. Davis has been the president and CEO of our company since
August 2008 and the CFO of our company since September 2008. During the past
five years, Mr. Davis has been a realtor and worked in property management since
1990.

Family Relationships

There are no family relationships among the directors,
executive officers or persons nominated or chosen by Gurata to become directors
or executive officers.

Involvement in Certain Legal Proceedings

None of our directors, executive officers, promoters or control
persons has been involved in any of the following events during the past five
years:

|1. | any bankruptcy petition filed by or against any business
      of which such person was a general partner or executive officer either at
      the time of the bankruptcy or within two years prior to that
  time;                                                                                                           
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                               
|2. | any conviction in a criminal proceeding or being subject
      to a pending criminal proceeding, excluding traffic violations and other
      minor offences;                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                               
|3. | being subject to any order, judgment or decree, not
      subsequently reversed, suspended or vacated, of any court of competent
      jurisdiction, permanently or temporarily enjoining, barring, suspending or
      otherwise limiting his involvement in any type of business, securities or
      banking activities; or
|   |                                                                                                                                                                                                                                                                                                                               
|4. | being found by a court of competent jurisdiction in a
      civil action, the Securities and Exchange Commission or the Commodity
      Futures Trading Commission to have violated federal or state securities or
      commodities law, and the judgment has not been reversed, suspended, or
      vacated.                

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      39
|----------------------- | ---------------------- | -------------

---

Compliance with Section 16(a) of the Exchange Act.

Section 16(a) of the Securities Exchange Act of 1934 requires
our executive officers and directors and persons who own more than 10% of our
common stock to file with the Securities and Exchange Commission initial
statements of beneficial ownership, reports of changes in ownership and annual
reports concerning their ownership of our common stock and other equity
securities, on Forms 3, 4 and 5 respectively. Executive officers, directors and
greater than 10% shareholders are required by the SEC regulations to furnish us
with copies of all Section 16(a) reports that they file.

Based solely on our review of the copies of such forms received
by us, or written representations from certain reporting persons, we believe
that during fiscal year ended May 31, 2009, all filing requirements applicable
to our officers, directors and greater than 10% percent beneficial owners were
complied with.

Name
    Number of Late Reports
    Number of Transactions Not Reported on
      a Timely Basis
    Failure to File Required FormsShaun P. Davis
    1(1)
    1(1)
    1(1)


(1) The executive officer, director or holder of 10% or more of
our common stock failed to file a Form 5  Annual Statement of Beneficial
Ownership of Securities.

Nomination Procedure for Directors

We do not have a standing nominating committee; recommendations
for candidates to stand for election as directors are made by the board of
directors. We have not adopted a policy that permits shareholders to recommend
candidates for election as directors or a process for shareholders to send
communications to the board of directors.

Audit Committee and Audit Committee Financial Expert

Our board of directors has determined that it does not have a
member of its audit committee that qualifies as an "audit committee financial
expert" as defined in Item 407(d)(5)(ii) of Regulation S-K, and is "independent"
as the term is used in Item 7(d)(3)(iv) of Schedule 14A under the Securities
Exchange Act of 1934, as amended.

We believe that the members of our board of directors are
collectively capable of analyzing and evaluating our financial statements and
understanding internal controls and procedures for financial reporting. We
believe that retaining an independent director who would qualify as an "audit
committee financial expert" would be overly costly and burdensome and is not
warranted in our circumstances given the early stages of our development and the
fact that we have not generated any material revenues to date. In addition, we
currently do not have nominating, compensation or audit committees or committees
performing similar functions nor do we have a written nominating, compensation
or audit committee charter. Our board of directors does not believe that it is
necessary to have such committees because it believes the functions of such
committees can be adequately performed by our board of directors.

Audit Committee

Currently our audit committee consists of our entire board of
directors.

During fiscal 2009 aside from quarterly review teleconferences,
there were no meetings held by this committee. The business of the audit
committee was conducted though these teleconferences and by resolutions
consented to in writing by all the members and filed with the minutes of the
proceedings of the audit committee.

As of May 31, 2009, our company did not have a written audit
committee charter or similar document.

Code of Ethics

We have adopted a financial code of ethics that applies to all
of our executive officers and employees, including our CEO and CFO.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      40
|----------------------- | ---------------------- | -------------

---

As adopted, financial code of ethics sets forth written
standards that are designed to deter wrongdoing and to promote:

- honesty and integrity, avoiding actual or apparent conflicts of interest in
  personal and professional relationships.
- information that is accurate, complete, objective, relevant, timely and
  understandable to ensure full, fair, accurate, timely, and understandable
  disclosure in the reports and documents that GURATA files with, or submits to,
  government agencies and in other public communications.
- compliance with the rules and regulations of federal, state and local
  governments, and other appropriate private and public regulatory agencies.
- acting in good faith, responsibly, with due care, competence and diligence,
  without misrepresenting material facts or allowing one's independent judgment
  to be subordinated.
- respecting the confidentiality of information acquired in the course of
  one's work, except when authorized or otherwise legally obligated to disclose.
  Confidential information acquired in the course of one's work will not be used
  for personal advantage.
- sharing job knowledge and maintain skills important and relevant to
  stakeholders needs.
- proactively promote and be an example of ethical behavior as a responsible
  partner among peers, in the work environment and in the community.
- responsible use of, and control over, all GURATA assets and resources
  employed by, or entrusted to yourself, and your department.
- full and active support and cooperation of GURATA's Officers, Sr. Staff,
  and all employees in the adherence to this Financial Code of Ethics.
- prompt reporting to the CEO or CFO any conduct believed to be in violation
  of law or business ethics or in violation of any provision of this Code of
  Ethics, including any transaction or relationship that reasonably could be
  expected to give rise to such a conflict. Further, to promptly report to the
  Chair of GURATA's Board of Directors such conduct if by the CEO or CFO or if
  they fail to correct such conduct by others in a reasonable period of time.

We undertake to provide any person with a copy of its financial
code of ethics free of charge. Please contact Shaun Davis at 206-779-5013 to
request a copy of our code of ethics.

Item 11. Executive Compensation.

The particulars of the compensation paid to the following
persons:

| | (a) | our principal executive officer;                                                                                                                                                                                                             
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                              
| | (b) | each of our two most highly compensated executive
      officers who were serving as executive officers at the end of the years
      ended July 31, 2009 and 2008; and                                                                      
| |     |                                                                                                                                                                                                                                              
| | (c) | up to two additional individuals for whom disclosure
      would have been provided under (b) but for the fact that the individual
      was not serving as our executive officer at the end of the years ended
      July 31, 2009 and 2008,

who we will collectively refer to as the named executive
officers of our company, are set out in the following summary compensation
table, except that no disclosure is provided for any named executive officer,
other than our principal executive officers, whose total compensation did not
exceed $100,000 for the respective fiscal year:

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      41
|----------------------- | ---------------------- | -------------

---

SUMMARY COMPENSATION
      TABLEName
      and Principal Position
    Year
    Salary ($)
    Bonus ($)
    Stock Awards
      ($)
    Option Awards
      ($)
    Non-Equity Incentive
      Plan Compensation ($)
    Change in
      Pension Value and Nonqualified
      Deferred Compensation Earnings
      ($)
    All Other
      Compensation ($)
    Total ($)Shaun P. Davis(1)President,
      CEO, CFO, and Secretary
    2009 2008 2007
    N/A N/A N/A
    N/A N/A N/A
    N/A N/A N/A
    N/A N/A N/A
    N/A N/A N/A
    N/A N/A N/A
    4,000 N/A N/A
    4,000 N/A N/AFilberto Gurat(2)Former
      President, CEO and CFO
    2009 2008 2007
    N/A Nil Nil
    N/A Nil Nil
    N/A Nil Nil
    N/A Nil Nil
    N/A Nil Nil
    N/A Nil Nil
    N/A 5,000 Nil
    N/A 5,000 Nil


1. Mr. Davis was appointed president
and chief executive officer on August 7, 2008 and as chief financial officer,
treasurer and secretary on September 11, 2008.

2. Mr. Gurat was appointed president,
chief executive officer and chief financial officer on . Mr. Gurat resigned as
president and chief financial officer on August 7, 2008 and as chief financial
officer on September 11, 2008

2009 Grants of Plan-Based Awards

No equity or non-equity awards were granted to the named
executives in 2009.

Outstanding Equity Awards at Fiscal Year End

The particulars of unexercised options, stock that has not
vested and equity incentive plan awards for our named executive officers are set
out in the following table:

Options Awards
    Stock AwardsName
    Number of
      Securities Underlying UnexercisedOptions (#) Exercisable
    Number of
      Securities Underlying **Unexercised**Options (#)
      **Unexercisable**
    Equity
      Incentive Plan Awards: Number
      of Securities Underlying
      **Unexercised** Unearned Options
      (#)
    Option
      Exercise Price ($)
    Option
      Expiration Date
    Number
      of Shares or Units
      of Stock That Have
      Not Vested (#)
    Market
      Value of Shares or
      Units of Stock That
      Have Not Vested ($)
    Equity
      Incentive Plan Awards: Number
      of Unearned Shares, Units or
      Other Rights That Have Not
      Vested (#)
    Equity Incentive Plan
      Awards: Market or Payout Value
      of Unearned Shares, Units or
      Other Rights That Have Not
      Vested ($)Shaun P. Davis President, CEO, CFO, and
      Secretary
    N/A
    N/A
    N/A
    N/A
    N/A
    N/A
    N/A
    N/A
    N/A


Option Exercises

During our Fiscal year ended May 31, 2009 there were no options
exercised by our named officers.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      42
|----------------------- | ---------------------- | -------------

---

Compensation of Directors

We do not have any agreements for compensating our directors
for their services in their capacity as directors, although such directors are
expected in the future to receive stock options to purchase shares of our common
stock as awarded by our board of directors.

We have determined that none of our directors are independent
directors, as that term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the
Securities Exchange Act of 1934, as amended, and as defined by Rule
4200(a)(15) of the NASDAQ Marketplace Rules.

Item 12. Security Ownership of Certain Beneficial Owners and
Management and Related Stockholder Matters

The following table sets forth, as of November 18, 2009,
certain information with respect to the beneficial ownership of our common
shares by each shareholder known by us to be the beneficial owner of more than
5% of our common shares, as well as by each of our current directors and
executive officers as a group. Each person has sole voting and investment power
with respect to the shares of common stock, except as otherwise indicated.
Beneficial ownership consists of a direct interest in the shares of common
stock, except as otherwise indicated.

Name and Address of Beneficial Owner
    Amount and Nature of Beneficial Ownership
    Percentage of Class(1)Shaun P. Davis 11730 NE 107thPlace
      Kirkland, Washington 98033
    22,000,000 common stock
    56.4%Directors and Executive Officers as a
      Group(1)
    22,000,000 common stock
    56.4%


(1)
    Under Rule 13d-3, a beneficial owner of a security
      includes any person who, directly or indirectly, through any contract,
      arrangement, understanding, relationship, or otherwise has or shares: (i)
      voting power, which includes the power to vote, or to direct the voting of
      shares; and (ii) investment power, which includes the power to dispose or
      direct the disposition of shares. Certain shares may be deemed to be
      beneficially owned by more than one person (if, for example, persons share
      the power to vote or the power to dispose of the shares). In addition,
      shares are deemed to be beneficially owned by a person if the person has
      the right to acquire the shares (for example, upon exercise of an option)
      within 60 days of the date as of which the information is provided. In
      computing the percentage ownership of any person, the amount of shares
      outstanding is deemed to include the amount of shares beneficially owned
      by such person (and only such person) by reason of these acquisition
      rights. As a result, the percentage of outstanding shares of any person as
      shown in this table does not necessarily reflect the persons actual
      ownership or voting power with respect to the number of shares of common
      stock actually outstanding on November 18, 2009. As of November 18, 2009,
      there were 39,000,000 shares of our Companys common stock issued and
      outstanding


Changes in Control

We are unaware of any contract or other arrangement the
operation of which may at a subsequent date result in a change in control of our
Company.

Item 13. Certain Relationships and Related Transactions, and
Director Independence.

Except as disclosed herein, no director, executive officer,
shareholder holding at least 5% of shares of our common stock, or any family
member thereof, had any material interest, direct or indirect, in any
transaction, or proposed transaction since the year ended May 31, 2009, in which
the amount involved in the transaction exceeded or exceeds the lesser of
$120,000 or one percent of the average of our total assets at the year end for
the last three completed fiscal years.

In return for Feliberto Gurat holding the one mineral claim in
trust for our company, we have agreed to make payments in lieu of valid
exploration work on behalf of Mr. Gurat, if required, to keep the Gate 1 Claim
in good standing with the Province of British Columbia. We anticipate the amount
of the payments to be made on behalf of Mr. Gurat to be approximately $2,000 for
next year and $4,000 annually thereafter.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      43
|----------------------- | ---------------------- | -------------

---

Feliberto Gurat, a former CFO and director, donated services
and rent to our company that are recognized on our financial statements. From
inception on May 26, 2006 to May 31, 2009, we recognized a total of $5,500 for
donated services at a rate of $500 per month and $2,750 for donated rent at a
rate of $250 per month.

Director independence

We currently act with one (1) director, consisting of Shaun P.
Davis. We have determined that our director is not an independent director as
defined in NASDAQ Marketplace Rule 4200(a)(15).

Currently our audit committee consists of our entire board of
directors. We currently do not have nominating, compensation committees or
committees performing similar functions. There has not been any defined policy
or procedure requirements for shareholders to submit recommendations or
nomination for directors.

Our board of directors has determined that it does not have a
member of its audit committee who qualifies as an audit committee financial
expert as defined in as defined in Item 407(d)(5)(ii) of Regulation S-K.

From inception to present date, we believe that the members of
our audit committee and the board of directors have been and are collectively
capable of analyzing and evaluating our financial statements and understanding
internal controls and procedures for financial reporting.

The promoters of our company are our directors and
officers.

Item 14. Principal Accounting Fees and Services

The aggregate fees billed for the most recently completed
fiscal year ended May 31, 2009 and for fiscal year ended May 31, 2008 for
professional services rendered by the principal accountant for the audit of our
annual financial statements and review of the financial statements included in
our quarterly reports on Form 10-Q and services that are normally provided by
the accountant in connection with statutory and regulatory filings or
engagements, including tax return preparation and tax compliance for these
fiscal periods were as follows:

Year EndedMay 31, 2009 $
    May 31, 2008 $Audit Fees
    12,000
    10,500Audit Related Fees
    Nil
    NilTax Fees
    1,350
    1,000All Other Fees
    Nil
    NilTotal
    13,350
    11,500


Effective May 6, 2003, the Securities and Exchange Commission
adopted rules that require that before our independent auditors are engaged by
us to render any auditing or permitted non-audit related service, the engagement
be:

- approved by our audit committee (which consists of our entire board of
  directors); or
- entered into pursuant to pre-approval policies and procedures established
  by the board of directors, provided the policies and procedures are detailed
  as to the particular service, the board of directors is informed of each
  service, and such policies and procedures do not include delegation of the
  board of directors' responsibilities to management.

Our board of directors pre-approves all services provided by
our independent auditors. All of the above services and fees were reviewed and
approved by the board of directors either before or after the respective
services were rendered.

Our board of directors has considered the nature and amount of
fees billed by our independent auditors and believes that the provision of
services for activities unrelated to the audit is compatible with maintaining
our independent auditors independence.

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page 44
|----------------------- | ---------------------- | -------

---

Item 15. Exhibits, Financial Statements Schedules.

|(a) | Financial Statements
|--- | --------------------
|    |                     
|    | (1)                 
|    |                     
|    | (2)                 
|    |                     
|(b) | Exhibits            

(incorporated by reference to our current report, on Form
8-K filed on January 30, 2009)

|Exhibit | Description                                                                                                                                                                                                                  
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(3)     | Articles of Incorporation and
      Bylaws                                                                                                                                                                                   
|3.1     | Articles of Incorporation (incorporated by reference
      to our registration statement on Form SB-2 filed on August 16, 2007).                                                                                             
|3.2     | By-Laws (incorporated by reference
      to our registration statement on Form SB-2 filed on August 16,                                                                                                                      
|        | 2007).                                                                                                                                                                                                                       
|(10)    | Material Contracts                                                                                                                                                                                                           
|10.1    | Property agreement dated December 15, 2006 between
      Kenneth Ralfs and Feliberto Gurat as Trustee for Gurata (incorporated by
      reference to our registration statement on Form SB-2 filed on August 16,
      2007).
|10.2    | Trust agreement dated January 17,
      2007 (incorporated by reference to our registration statement on Form SB-2
      filed on August 16, 2007).                                                                          
|(14)    | Code of Ethics                                                                                                                                                                                                               
|14      | Financial Code of Ethics (incorporated
      by reference to our registration statement on Form SB-2 filed on August
      16, 2007).                                                                                        
|(31)    | Section 302 Certifications                                                                                                                                                                                                   
|31      | Certifications
      pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                              
|(32)    | Section 906 Certification                                                                                                                                                                                                    
|32      | Certification
      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
      the Sarbanes-Oxley Act of 2002.                                                                                          

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      45
|----------------------- | ---------------------- | -------------

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SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

|                         | GURATA GOLD, INC.                                      
|------------------------ | -------------------------------------------------------
|                         | (Registrant)                                           
|                         |                                                        
|                         |                                                        
|Dated: December 3,  2009 | /s/ Shaun P. Davis                                     
|                         | Shaun P. Davis                                         
|                         | President, Chief Executive Officer, Chief              
|                         | Financial Officer, Treasurer, Secretary and            
|                         | director                                               
|                         | (Principal Executive Officer, Principal
      Financial
|                         | Officer and Principal Accounting Officer)              

Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on behalf of
the registrant and in the capacities and on the dates indicated.

|Dated: December 3,  2009 | /s/ Shaun P. Davis                                     
|------------------------ | -------------------------------------------------------
|                         | Shaun P. Davis                                         
|                         | President, Chief Executive Officer, Chief              
|                         | Financial Officer, Treasurer, Secretary and            
|                         | director                                               
|                         | (Principal Executive Officer, Principal
      Financial
|                         | Officer and Principal Accounting Officer)              

|Gurata Gold,
      Inc. | Form
      10-K - 2009 | Page
      46
|----------------------- | ---------------------- | -------------

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