| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

----

| NEVADA                                                                             |   | 91-2147101                           |
|------------------------------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization)                     |   | (I.R.S. Employer Identification No.) |
|                                                                               |   |                                 |
| Suite 201, 810 Peace Portal Drive,                                                 |   |                                 |
| Blaine, WA                                                                         |   | 98230                                |
| (Address of principal executive offices)                                           |   | (Zip Code)                           |
|                                                                               |
| (360) 220-5218                                                                     |
| (Registrant’s telephone number, including area code)                         |
|                                                                               |   |                                 |
| Not Applicable                                                                     |
| (Former name, former address and former fiscal year, if changed since last report) |

| Large accelerated filer  ̈                                             | Accelerated filer  ̈    |
|----------------------------------------------------------------------------|-----------------------------|
| Non-accelerated filer  ̈ (Do not check if a smaller reporting company) | Smaller reporting company x |

----

----

|                                                                                   |   | (Unaudited)   |      |   | (Audited)      |   |
|----------------------------------------------------------------------------------------|--------|---------------|-----------|--------|----------------|--------|
|                                                                                   |   | JULY 31, |      |   | April 30, |   |
|                                                                                   |   | 2011          |      |   | 2011           |   |
|                                                                                   |   |          |      |   |           |   |
| ASSETS                                                                                 |   |          |      |   |           |   |
|                                                                                   |   |          |      |   |           |   |
| Current Assets:                                                                        |   |          |      |   |           |   |
| Cash                                                                                   |   | $             | 419       |   |           | $      | 2,459 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Total Current Assets                                                                   |   |          | 419       |   |           |   | 2,459 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Investment in Mineral Rights                                                           |   |          | 25,000    |   |           |   | 25,000 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| TOTAL ASSETS                                                                           |   | $             | 25,419    |   |           | $      | 27,459 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                         |   |          |      |   |           |   |   |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Current Liabilities:                                                                   |   |          |      |   |           |   |   |   |
| Accounts Payable and Accrued Expenses                                                  |   | $             | 68,689    |   |           | $      | 50,817 |   |
| Loans Payable                                                                          |   |          | 6,000     |   |           |   | 6,000 |   |
| Loans Payable Related Parties                                                          |   |          | 1,000     |   |           |   | 1,000 |   |
| Note Payable                                                                           |   |          | 25,000    |   |           |   | 25,000 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Total Current Liabilities                                                              |   |          | 100,689   |   |           |   | 82,817 |   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Stockholders' Equity:                                                                  |   |          |      |   |           |   |   |   |
| Common Stock, $0.001 par value 400,000,000 shares authorized, 29,470,660 shares issued |   |          | 29,471    |   |           |   | 29,471 |   |
| Additional Paid in Capital                                                             |   |          | 1,991,424 |   |           |   | 1,991,424 |   |
| Deficit Accumulated During the Exploration Stage                                       |   | <2,096,165 | >      |   | <2,076,253  | >   |
|                                                                                   |   |          |      |   |           |   |   |   |
| Total Stockholders' Equity (Deficit)                                                   |   | <75,270    | >      |   | <55,358     | >   |
|                                                                                   |   |          |      |   |           |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                   |   | $             | 25,419    |   |           | $      | 27,459 |   |

----

|                                     |   | THREE MONTHS ENDED |          |   | INCEPTION to       |   |
|------------------------------------------|--------|------------------------------|---------------|--------|-------------------------|--------|
|                                     |   | JULY 31, 2011      |          |   | JULY 31, 2010 |   |   | JULY 31, 2011 |   |
|                                     |   |                         |          |   |                    |   |   |   |   |
| Revenues                                 |   | $                            | -0-           |   |                    | $      | -0- |   |   | $ | -0- |   |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Operating Expenses                       |   |                         | <19,912    | >   |                    |   | <10,155 | > |   |   | <1,081,676 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Loss Before Other Income And Expenses    |   |                         | <19,912    | >   |                    |   | <10,155 | > |   |   | <1,081,676 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Other Income                             |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Interest Income                          |   |                         | -0-           |   |                    |   | -0- |   |   |   | 14,491 |   |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Other Expense                            |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Unrealized Loss on Investment            |   |                         | -0-           |   |                    |   | -0- |   |   |   | <1,028,980 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Loss Before Provision for Income Taxes   |   |                         | <19,912    | >   |                    |   | <10,155 | > |   |   | <2,096,165 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Provision for Income Taxes               |   |                         | -0-           |   |                    |   | -0- |   |   |   | -0- |   |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Net Loss                                 |   |                         | <19,912    | >   |                    |   | <10,155 | > |   |   | <2,096,165 | > |
| Accumulated Deficit, Beginning of Period |   |                         | <2,076,253 | >   |                    |   | <1,979,058 | > |   |   | -0- |   |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Accumulated Deficit, End of Period       |   | $                            | <2,096,165 | >   |                    | $      | <1,989,213 | > |   | $ | <2,096,165 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Net Loss per Share                       |   | $                            | <0.00      | >   |                    | $      | <0.01 | > |   | $ | <0.28 | > |
|                                     |   |                         |          |   |                    |   |   |   |   |   |   |   |
| Weighted Average Shares Outstanding      |   |                         | 29,470,660    |   |                    |   | 9,470,660 |   |   |   | 7,699,215 |   |

----

|                                                   |   |              |      |   |       |   |    |            |   |   | Deficit     |   |   |                  |     |
|--------------------------------------------------------|--------|-------------------|-----------|--------|------------|--------|---------|-----------------|--------|--------|-------------|--------|--------|-----------------------|----------|
|                                                   |   |              |      |   |       |   |    |            |   |   | Accumulated |   |   |                  |     |
|                                                   |   | Common Stock |      |   | Additional |   |    | During the |   |   | Total       |   |
|                                                   |   |              |      |   | Dollar     |   |    | Paid in    |   |   | Exploration |   |   | Stockholders'         |     |
|                                                   |   | Shares            |      |   | Amount     |   |    | Capital         |   |   | Stage       |   |   | Equity (Deficit) |     |
| Inception, February 20, 2001                           |   |              | —   |   |       | $      | — |            |   | $      | —     |   |   | $                     | —  |   |   | $ | — |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Common Stock Issued $0.001 per share April 9, 2001     |   |              | 4,000,000 |   |       |   | 400     |            |   |   | 3,600       |   |   |                  | —  |   |   |   | 4,000 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2001                  |   |              | —   |   |       |   | — |            |   |   | —     |   |   |                  | (1,410   | ) |   |   | (1,410 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Balances, April 30, 2001                               |   |              | 4,000,000 |   |       |   | 400     |            |   |   | 3,600       |   |   |                  | (1,410   | ) |   |   | 2,590 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Common Stock Issued $0.01 per share August 15, 2001    |   |              | 2,500,000 |   |       |   | 250     |            |   |   | 24,750      |   |   |                  | —  |   |   |   | 25,000 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2002                  |   |              | —   |   |       |   | — |            |   |   | —     |   |   |                  | (19,196  | ) |   |   | (19,196 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Balances, April 30, 2002                               |   |              | 6,500,000 |   |       |   | 650     |            |   |   | 28,350      |   |   |                  | (20,606  | ) |   |   | 8,394 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Common Stock Issued $0.10 per share September 30, 2002 |   |              | 142,500   |   |       |   | 14      |            |   |   | 14,236      |   |   |                  | —  |   |   |   | 14,250 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2003                  |   |              | —   |   |       |   | — |            |   |   | —     |   |   |                  | (17,632  | ) |   |   | (17,632 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Balances, April 30, 2003                               |   |              | 6,642,500 |   |       |   | 664     |            |   |   | 42,586      |   |   |                  | (38,238  | ) |   |   | 5,012 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Common Stock Issued $0.10 per share November 6, 2003   |   |              | 400,000   |   |       |   | 40      |            |   |   | 39,960      |   |   |                  | —  |   |   |   | 40,000 |   |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2004                  |   |              | —   |   |       |   | — |            |   |   | —     |   |   |                  | (58,708  | ) |   |   | (58,708 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Balances, April 30, 2004                               |   |              | 7,042,500 |   |       |   | 704     |            |   |   | 82,546      |   |   |                  | (96,946  | ) |   |   | (13,696 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2005                  |   |              | —   |   |       |   | — |            |   |   | —     |   |   |                  | (37,532  | ) |   |   | (37,532 | ) |
|                                                   |   |              |      |   |       |   |    |            |   |   |        |   |   |                  |     |   |   |   |   |   |
| Balances, April 30, 2005                               |   |              | 7,042,500 |   |       |   | 704     |            |   |   | 82,546      |   |   |                  | (134,478 | ) |   |   | (51,228 | ) |

----

|                                                 |   |              |       |   |       |   |    |            |   |   | Deficit     |   |   |                  |       |
|------------------------------------------------------|--------|-------------------|------------|--------|------------|--------|---------|-----------------|--------|--------|-------------|--------|--------|-----------------------|------------|
|                                                 |   |              |       |   |       |   |    |            |   |   | Accumulated |   |   |                  |       |
|                                                 |   | Common Stock |       |   | Additional |   |    | During the |   |   | Total       |   |
|                                                 |   |              |       |   | Dollar     |   |    | Paid in    |   |   | Exploration |   |   | Stockholders'         |       |
|                                                 |   | Shares            |       |   | Amount     |   |    | Capital         |   |   | Stage       |   |   | Equity (Deficit) |       |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |
| Balances, April 30, 2005                             |   |              | 7,042,500  |   |       |   | 704     |            |   |   | 82,546      |   |   |                  | (134,478   | ) |   |   | (51,228 | ) |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $1.00 per share November 23,2005 |   |              | 500,000    |   |       |   | 50      |            |   |   | 499,950     |   |   |                  | —    |   |   |   | 500,000 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| 4-for-1 Stock Split, December 19, 2005               |   |              | 22,627,500 |   |       |   | 29,416  |            |   |   | (29,416     | )      |   |                  | —    |   |   |   | — |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.25 per share February 3, 2006 |   |              | 400,000    |   |       |   | 400     |            |   |   | 99,600      |   |   |                  | —    |   |   |   | 100,000 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.25 per share March 13, 2006   |   |              | 380,000    |   |       |   | 380     |            |   |   | 94,620      |   |   |                  | —    |   |   |   | 95,000 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.25 per share March 31, 2006   |   |              | 999,920    |   |       |   | 1,000   |            |   |   | 248,980     |   |   |                  | —    |   |   |   | 249,980 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2006                |   |              | —    |   |       |   | — |            |   |   | —     |   |   |                  | (987,633   | ) |   |   | (987,633 | ) |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2006                              |   |              | 31,949,920 |   |       |   | 31,950  |            |   |   | 996,280     |   |   |                  | (1,122,111 | ) |   |   | (93,881 | ) |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.25 per share May 24, 2006     |   |              | 220,080    |   |       |   | 220     |            |   |   | 54,800      |   |   |                  | —    |   |   |   | 55,020 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.30 per share June 5, 2006     |   |              | 335,000    |   |       |   | 335     |            |   |   | 100,165     |   |   |                  | —    |   |   |   | 100,500 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.10 per share January 23, 2007 |   |              | 1,678,200  |   |       |   | 1,678   |            |   |   | 166,142     |   |   |                  | —    |   |   |   | 167,820 |   |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2007                |   |              | —    |   |       |   | — |            |   |   | —     |   |   |                  | (301,060   | ) |   |   | (301,060 | ) |
|                                                 |   |              |       |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2007                              |   |              | 34,183,200 |   |       | $      | 34,183  |            |   | $      | 1,317,387   |   |   | $                     | (1,423,171 | ) |   | $ | (71,601 | ) |

----

|                                                 |   |              |        |   |       |   |    |            |   |   | Deficit     |   |   |                  |       |
|------------------------------------------------------|--------|-------------------|-------------|--------|------------|--------|---------|-----------------|--------|--------|-------------|--------|--------|-----------------------|------------|
|                                                 |   |              |        |   |       |   |    |            |   |   | Accumulated |   |   |                  |       |
|                                                 |   | Common Stock |        |   | Additional |   |    | During the |   |   | Total       |   |
|                                                 |   |              |        |   | Dollar     |   |    | Paid in    |   |   | Exploration |   |   | Stockholders'         |       |
|                                                 |   | Shares            |        |   | Amount     |   |    | Capital         |   |   | Stage       |   |   | Equity (Deficit) |       |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |
| Balances April 30, 2007                              |   |              | 34,183,200  |   |       | $      | 34,183  |            |   | $      | 1,317,387   |   |   | $                     | (1,423,171 | ) |   | $ | (71,601 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.10 per share July 12, 2007    |   |              | 2,570,000   |   |       |   | 2,570   |            |   |   | 254,755     |   |   |                  | —    |   |   |   | 257,325 |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2008                |   |              | —     |   |       |   | — |            |   |   | —     |   |   |                  | (100,450   | ) |   |   | (100,450 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2008                              |   |              | 36,753,200  |   |       | $      | 36,753  |            |   | $      | 1,572,142   |   |   | $                     | (1,523,621 | ) |   | $ | 85,274 |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.10 per share October 10, 2008 |   |              | 10,000,000  |   |       |   | 10,000  |            |   |   | 190,000     |   |   |                  | —    |   |   |   | 200,000 |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.02 per share April 8, 2009    |   |              | 600,000     |   |       |   | 600     |            |   |   | 11,400      |   |   |                  | —    |   |   |   | 12,000 |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2009                |   |              | —     |   |       |   | — |            |   |   | —     |   |   |                  | (355,923   | ) |   |   | (355,923 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2009                              |   |              | 47,353,200  |   |       |   | 47,353  |            |   |   | 1,773,542   |   |   |                  | (1,879,544 | ) |   |   | (58,649 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| 1-for-5 Reverse Stock Split, October 1, 2009         |   |              | (37,882,540 | )      |       |   | (37,882 | )               |   |   | 37,882      |   |   |                  | —    |   |   |   | — |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2010                |   |              | —     |   |       |   | — |            |   |   | —     |   |   |                  | (99,514    | ) |   |   | (99,514 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2010                              |   |              | 9,470,660   |   |       |   | 9,471   |            |   |   | 1,811,424   |   |   |                  | (1,979,058 | ) |   |   | (158,163 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Common Stock Issued $0.01 per share March 24, 2011   |   |              | 20,000,000  |   |       |   | 20,000  |            |   |   | 180,000     |   |   |                  | —    |   |   |   | 200,000 |   |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended April 30, 2011                |   |              | —     |   |       |   | — |            |   |   | —     |   |   |                  | (97,195    | ) |   |   | (97,195 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances April 30, 2011                              |   |              | 29,470,660  |   |       |   | 29,471  |            |   |   | 1,991,424   |   |   |                  | (2,076,253 | ) |   |   | (55,358 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Net Loss, Period Ended July 31, 2011                 |   |              | —     |   |       |   | — |            |   |   | —     |   |   |                  | (19,912    | ) |   |   | (19,912 | ) |
|                                                 |   |              |        |   |       |   |    |            |   |   |        |   |   |                  |       |   |   |   |   |   |
| Balances July 31, 2011                               |   |              | 29,470,660  |   |       |   | 29,471  |            |   |   | 1,991,424   |   |   |                  | (2,096,165 | ) |   |   | (75,270 | ) |

----

|                                                                                         |   | THREE MONTHS ENDED |       |   | INCEPTION to       |   |
|----------------------------------------------------------------------------------------------|--------|------------------------------|------------|--------|-------------------------|--------|
|                                                                                         |   | JULY 31, 2011      |       |   | JULY 31, 2010 |   |   | JULY 31, 2011 |   |
| Cash Flows from Operating Activities:                                                        |   |                         |       |   |                    |   |   |   |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |
| Net Loss                                                                                     |   | $                            | <19,912 | >   |                    | $      | <10,155 | > |   | $ | <2,096,165 | > |
| Adjustments to Reconcile Net Loss To Net Cash Provided/<Used> by Operating Activities: |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Unrealized Loss on Investment                                                                |   |                         | -0-        |   |                    |   | -0- |   |   |   | 1,028,980 |   |
| <Increase>/Decrease in:                                                                |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Loan Receivable                                                                              |   |                         | -0-        |   |                    |   | -0- |   |   |   | -0- |   |
| Increase/<Decrease> in:                                                                |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Accounts Payable                                                                             |   |                         | 17,872     |   |                    |   | 9,082 |   |   |   | 68,689 |   |
| Loan Payable                                                                                 |   |                         | -0-        |   |                    |   | -0- |   |   |   | 6,000 |   |
| Loan Payable - Related Party                                                                 |   |                         | -0-        |   |                    |   | -0- |   |   |   | 1,000 |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Net Cash Used by Operating Activities                                                        |   |                         | <2,040  | >   |                    |   | <1,073 | > |   |   | <991,496 | > |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Cash Flows from Investing Activities:                                                        |   |                         |       |   |                    |   |   |   |   |   |   |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Investment in Stock                                                                          |   |                         | -0-        |   |                    |   | -0- |   |   |   | <1,028,980 | > |
| Investment in Mineral Rights                                                                 |   |                         | -0-        |   |                    |   | -0- |   |   |   | <25,000 | > |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Net Cash Used by Investing Activities                                                        |   |                         | -0-        |   |                    |   | -0- |   |   |   | <1,053,980 | > |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Cash Flows from Financing Activities:                                                        |   |                         |       |   |                    |   |   |   |   |   |   |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Note Payable                                                                                 |   |                         | -0-        |   |                    |   | -0- |   |   |   | 25,000 |   |
| Loans from Shareholders                                                                      |   |                         | -0-        |   |                    |   | -0- |   |   |   | 157,395 |   |
| Payments on Loans                                                                            |   |                         | -0-        |   |                    |   | -0- |   |   |   | <157,395 | > |
| Proceeds from Issuance of Common Stock                                                       |   |                         | -0-        |   |                    |   | -0- |   |   |   | 2,020,895 |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Net Cash Provided by Financing Activities                                                    |   |                         | -0-        |   |                    |   | -0- |   |   |   | 2,045,895 |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash                                                              |   |                         | <2,040  | >   |                    |   | <1,073 | > |   |   | 419 |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Cash at Beginning of Period                                                                  |   |                         | 2,459      |   |                    |   | 1,169 |   |   |   | -0- |   |
|                                                                                         |   |                         |       |   |                    |   |   |   |   |   |   |   |
| Cash at End of Period                                                                        |   | $                            | 419        |   |                    | $      | 96 |   |   | $ | 419 |   |

----

----

----

----

|   | (i) | The first 25% interest in the Underlying Agreement upon the Company: |
|--------|-----|----------------------------------------------------------------------|

|   | a. |     Paying Pengram $25,000 by way of a promissory note, bearing interest at a rate of 10% per annum, due on September 27, 2011; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. |     Completing exploration expenditures on the Property totaling $250,000 by July 31, 2012. |
|--------|----|------------------------------------------------------------------------------------------------------------|

|   | (ii) | An additional 25% interest in the Underlying Agreement upon the Company: |
|--------|------|--------------------------------------------------------------------------|

|   | a. |     Paying Pengram $50,000 on or before May 31, 2013; |
|--------|----|----------------------------------------------------------------------|

|   | b. |     Completing additional exploration expenditures on the Property totaling $500,000 by July 31, 2013: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------|

|   | (iii) | An additional 25% interest in the Underlying Agreement upon the Company: |
|--------|-------|--------------------------------------------------------------------------|

|   | a. |     Paying Pengram $100,000 on or before May 31, 2014; |
|--------|----|-----------------------------------------------------------------------|

|   | b. |     Completing additional exploration expenditures on the Property totaling $1,000,000 by July 31, 2014. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

|                       |   | THREE MONTHS ENDED |   |   | INCEPTION to |   |
|----------------------------|--------|------------------------------|--------|--------|-------------------|--------|
|                       |   | JULY 31,2011            |   |   | JULY 31,2010 |   |   | JULY 31, 2011 |   |
|                       |   |                         |   |   |              |   |   |   |   |
| Operating Expenses:        |   |                         |   |   |              |   |   |   |   |
| Accounting                 |   | $                            | 4,840  |   |              | $      | -0- |   |   | $ | 161,510 |   |
| Bad Debt Expense           |   |                         | -0-    |   |              |   | -0- |   |   |   | 214,892 |   |
| Bank Charges               |   |                         | 30     |   |              |   | 45 |   |   |   | 1,230 |   |
| Cancelled Merger Costs     |   |                         | -0-    |   |              |   | -0- |   |   |   | 8,300 |   |
| Consulting                 |   |                         | -0-    |   |              |   | -0- |   |   |   | 119,650 |   |
| Exploration Expense        |   |                         | -0-    |   |              |   | -0- |   |   |   | 24,266 |   |
| Interest Expense           |   |                         | 664    |   |              |   | -0- |   |   |   | 664 |   |
| Legal                      |   |                         | 6,090  |   |              |   | 2,010 |   |   |   | 289,404 |   |
| Office Administration      |   |                         | 7,500  |   |              |   | 7,500 |   |   |   | 182,100 |   |
| Office Expenses            |   |                         | -0-    |   |              |   | -0- |   |   |   | 4,271 |   |
| Regulatory Expenses/Fees   |   |                         | 188    |   |              |   | -0- |   |   |   | 37,025 |   |
| Rent                       |   |                         | 375    |   |              |   | 375 |   |   |   | 26,700 |   |
| Telephone                  |   |                         | 225    |   |              |   | 225 |   |   |   | 6,956 |   |
| Travel & Entertainment |   |                         | -0-    |   |              |   | -0- |   |   |   | 4,708 |   |
|                       |   |                         |   |   |              |   |   |   |   |   |   |   |
| Total Operating Expenses   |   | $                            | 19,912 |   |              | $      | 10,155 |   |   | $ | 1,081,676 |   |

----

| ITEM 2. | MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. |
|---------|----------------------------------------------------------------------------------------|

|   | (i) | The first 25% interest in the Underlying Agreement upon the Company: |
|--------|-----|----------------------------------------------------------------------|

|   | a. | paying Pengram $25,000 by way of a promissory note, bearing interest at a rate of 10% per annum, due on September 27, 2011; |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------|

|   | b. | completing exploration expenditures on the Property totalling $250,000 by July 31, 2012. |
|--------|----|------------------------------------------------------------------------------------------|

|   | (ii) | An additional 25% interest in the Underlying Agreement upon the Company: |
|--------|------|--------------------------------------------------------------------------|

|   | a. | paying Pengram $50,000 on or before May 31, 2013; |
|--------|----|---------------------------------------------------|

|   | b. | completing exploration expenditures on the Property totalling $500,000 by July 31, 2013: |
|--------|----|------------------------------------------------------------------------------------------|

|   | (iii) | An additional 25% interest in the Underlying Agreement upon the Company: |
|--------|-------|--------------------------------------------------------------------------|

|   | a. | paying Pengram $100,000 on or before May 31, 2014; |
|--------|----|----------------------------------------------------|

|   | b. | completing exploration expenditures on the Property totalling $1,000,000 by July 31, 2014. |
|--------|----|--------------------------------------------------------------------------------------------|

----

|               |   | Three Months Ended |    |   | Percentage    |   |
|--------------------|--------|--------------------|---------|--------|---------------|--------|
|               |   | July 31, 2011      |    |   | July 31, 2010 |   |   | Increase / (Decrease) |   |
| Revenue            |   | $                  | -       |   |          | $      | - |   |   |   | n/a |   |
| Operating Expenses |   |               | (19,912 | )      |          |   | (10,155 | ) |   |   | 96.1 | % |
| Net Loss           |   | $                  | (19,912 | )      |          | $      | (10,155 | ) |   |   | 96.1 | % |

|                     |   |               |   |   | Percentage    |   |
|--------------------------|--------|--------------------|--------|--------|---------------|--------|
|                     |   | Three Months Ended |   |   | Increase /    |   |
|                     |   | July 31, 2011      |   |   | July 31, 2010 |   |   | (Decrease) |   |
| Accounting               |   | $                  | 4,840  |   |          | $      | - |   |   |   | 100 | % |
| Bank Charges             |   |               | 30     |   |          |   | 45 |   |   |   | (33.3 | )% |
| Interest                 |   |               | 664    |   |          |   | - |   |   |   | 100 | % |
| Legal                    |   |               | 6,090  |   |          |   | 2,010 |   |   |   | 203 | % |
| Office Administration    |   |               | 7,500  |   |          |   | 7,500 |   |   |   | 0.0 | % |
| Regulatory Expenses/Fees |   |               | 188    |   |          |   | - |   |   |   | 100 | % |
| Rent                     |   |               | 375    |   |          |   | 375 |   |   |   | 0.0 | % |
| Telephone                |   |               | 225    |   |          |   | 225 |   |   |   | 0.0 | % |
| Total Operating Expenses |   | $                  | 19,912 |   |          | $      | 10,155 |   |   |   | 96.1 | % |

----

|                    |   | At July 31, 2011 |     |   | At April 30, 2011 |   |    | PercentageIncrease / (Decrease) |   |
|-------------------------|--------|---------------------------------|----------|--------|----------------------------------|--------|---------|-------------------------------------------|--------|
| Current Assets          |   | $                               | 419      |   |                             | $      | 2,459   |                                      |   |   | (83.0 | )% |
| Current Liabilities     |   |                            | (100,689 | )      |                             |   | (82,817 | )                                         |   |   | 21.6 | % |
| Working Capital Deficit |   | $                               | (100,270 | )      |                             | $      | (80,358 | )                                         |   |   | 24.8 | % |

|                                          |   | Three Months Ended |   |
|-----------------------------------------------|--------|------------------------------|--------|
|                                          |   | July 31, 2011                |   |   | July 31, 2010 |   |
| Net Cash Used by Operating Activities         |   | $                            | (2,040 | ) |   | $ | (1,073 | ) |
| Net Cash From Investing Activities            |   |                         | -      |   |   |   | - |   |
| Net Cash Provided By Financing Activities     |   |                         | -      |   |   |   | - |   |
| Net Increase (Decrease) in Cash During Period |   | $                            | (2,040 | ) |   | $ | (1,073 | ) |

----

----

----

| - | Costs of bringing the property into production including exploration work, preparation of production feasibility studies, and construction of production facilities, all of which we have not budgeted for; |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| - | Ongoing costs of production; and |
|---|----------------------------------|

| - | Environmental compliance regulations and restraints. |
|---|------------------------------------------------------|

----

| 1. | contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading; |
|----|---------------------------------------------------------------------------------------------------------------------------------------|

| 2. | contains a description of the broker’s or dealer’s duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements of securities laws; |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | contains a brief, clear, narrative description of a dealer market, including bid and ask prices for penny stocks and the significance of the spread between the bid and ask price; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | contains a toll-free telephone number for inquiries on disciplinary actions; |
|----|------------------------------------------------------------------------------|

| 5. | defines significant terms in the disclosure document or in the conduct of trading in penny stocks; and |
|----|--------------------------------------------------------------------------------------------------------|

----

| 6. | contains such other information and is in such form, including language, type, size and format, as the SEC shall require by rule or regulation. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Exhibit Number |   | Description of Exhibit                                                                                                                                                                     |
|----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1            |   | Articles of Incorporation.(1)                                                                                                                                                              |
| 3.2            |   | Certificate of Change to Authorized Capital effective December 19, 2005.(2)                                                                                                                |
| 3.3            |   | Bylaws.(1)                                                                                                                                                                                 |
| 10.1           |   | 2006 Stock Incentive Plan.(4)                                                                                                                                                              |
| 10.2           |   | Stock Option Agreement between the Company and Howard Thomson dated March 31, 2006.(4)                                                                                                     |
| 10.3           |   | Management Consulting Agreement dated March 21, 2006 between the Company and Howard Thomson.(4)                                                                                            |
| 10.4           |   | Interim Agreement dated July 9, 2008 between the Company and Pyro Pharmaceuticals, Inc.(5)                                                                                                 |
| 10.5           |   | Amendment Agreement dated September 26, 2008 to the Interim Agreement dated July 9, 2008 between the Company and Pyro Pharmaceuticals, Inc.(6)                                             |
| 10.6           |   | Share Purchase Agreement dated April 29, 2009 among Terrace Ventures Inc., Marktech Acquisition Corp., Worldbid International Inc. and Geobiz Systems Inc.(7)                              |
| 10.7           |   | Amendment Agreement to Share Purchase Agreement dated August 12, 2009 among Terrace Ventures Inc., Marktech Acquisition Corp., Worldbid International Inc. and Geobiz Systems Inc.(8)      |
| 10.8           |   | Earn-In Agreement (Golden Snow) dated April 26, 2011 between Pengram Corporation and Terrace Ventures Inc.(9)                                                                              |
| 10.9           |   | Earn-In Extension Agreement (Golden Snow) dated June 29, 2011 between Pengram Corporation and Terrace Ventures Inc.(10)                                                                    |
| 14.1           |   | Code of Ethics.(3)                                                                                                                                                                         |
| 31.1           |   | Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                            |
| 32.1           |   | Certification of Chief Executive Officer and Chief Financial Officer pursuant to pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

|   | (1) | Filed with the SEC as an exhibit to our Registration Statement on Form 10-SB originally filed on February 2, 2004. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (2) | Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on December 27, 2005. |
|--------|-----|------------------------------------------------------------------------------------------------|

|   | (3) | Filed with the SEC as an exhibit to our Annual Report on Form 10-KSB filed on September 8, 2004. |
|--------|-----|--------------------------------------------------------------------------------------------------|

|   | (4) | Filed with the SEC as an exhibit to our Quarterly Report on Form 10-QSB filed on March 22, 2006. |
|--------|-----|--------------------------------------------------------------------------------------------------|

|   | (5) | Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on July 15, 2008. |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (6) | Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on October 2, 2008. |
|--------|-----|----------------------------------------------------------------------------------------------|

|   | (7) | Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on April 29, 2009. |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (8) | Filed with the SEC as an exhibit to our Annual Report on Form 10-K filed on August 13, 2009. |
|--------|-----|----------------------------------------------------------------------------------------------|

|   | (9) | Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on April 28, 2011. |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (10) | Filed with the SEC as an exhibit to our Annual Report on Form 10-K filed on August 15, 2011. |
|--------|------|----------------------------------------------------------------------------------------------|

----

|   |               |   | TERRACE VENTURES INC.                                            |
|--------|--------------------|--------|------------------------------------------------------------------|
|   |               |   |                                                             |
| Date:  | September 19, 2011 | By:    |   /s/ Howard Thomson                                        |
|   |               |   | HOWARD THOMSON                                                   |
|   |               |   | Chief Executive Officer, Chief Financial Officer,                |
|   |               |   | President, Secretary and Treasurer                               |
|   |               |   | (Principal Executive Officer & Principal Accounting Officer) |

----