----

----

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

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

| Colorado                                                       | *                                       |
|----------------------------------------------------------------|-----------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |

| Yes | þ | No | o |
|-----|--------|----|---|

|                                                                       |   |                             |
|----------------------------------------------------------------------------|--------|----------------------------------|
| Large accelerated filer  o                                       |   | Accelerated filer o              |
|                                                                       |   |                             |
| Non-accelerated filer  o(Do not check if a smaller reporting company) |   | Smaller Reporting Company þ |
|                                                                       |   |                             |

----

|         |                                                                                                                            |   | Page    |   |
|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|
| PART I-      | FINANCIAL INFORMATION                                                                                                                                                                                                                              |   |    |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 1-      | FINANCIAL STATEMENTS                                                                                                                                                                                                                               |   |  2 |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
|         | Condensed Consolidated Balance sheets as of March 31, 2012 (unaudited) and December 31, 2011                                                                                                                                                       |   | 2       |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
|         | Condensed Consolidated Statements of operations for the three months ended March 31, 2012 and March 31, 2011  and for the period January 3, 2006 (date of Commencement as a development stage company) through March 31, 2012(unaudited) |   | 3       |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
|         | Condensed Consolidated Statements of cash flows for the three months ended March 31, 2012  and March 31, 2011 and for the period January 3, 2006 (date of Commencement as a development stage company) through March 31, 2012(unaudited)      |   | 4       |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
|         | Notes to condensed consolidated financial statements                                                                                                                                                                                               |   | 5       |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 2-      | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                                                                                                                                                        |   | 11      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 3-      | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                                                                                                                                                                         |   | 13      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 4-      | CONTROLS AND PROCEDURES                                                                                                                                                                                                                            |   | 13      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| PART II-     | OTHER INFORMATION                                                                                                                                                                                                                                  |   |    |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 1-      | LEGAL PROCEEDINGS                                                                                                                                                                                                                                  |   | 14      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 1A-     | RISK FACTORS                                                                                                                                                                                                                                       |   | 14      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 2-      | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                                                                                                                                                                                        |   | 14      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 3-      | DEFAULT UPON SENIOR SECURITIES                                                                                                                                                                                                                     |   | 15      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 4-      | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                                                                                                                                                                                                |   | 15      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 5-      | OTHER INFORMATION                                                                                                                                                                                                                                  |   | 15      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| ITEM 6-      | EXHIBITS                                                                                                                                                                                                                                           |   | 15      |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| SIGNATURES   |                                                                                                                                                                                                                                               | 16     |    |
|         |                                                                                                                                                                                                                                               |   |    |   |
| Exhibit 31.1 | Certification Pursuant to Section 302 of the Sarbanes Oxley Act                                                                                                                                                                                    |   |    |   |
|         |                                                                                                                                                                                                                                               |   |    |   |
| Exhibit 32.2 | Certification Pursuant to Section 906 of the Sarbanes Oxley Act                                                                                                                                                                                    |   |    |   |

----

|                                                                                                                                                                                                                        |   | March 31,   |          |   |         |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|---------------|--------|--------------|--------|
| ASSETS                                                                                                                                                                                                                      |   | 2012        |          |   | December 31, |   |
|                                                                                                                                                                                                                        |   | (Unaudited) |          |   | 2011         |   |
| CURRENT ASSETS:                                                                                                                                                                                                             |   |        |          |   |         |   |
| Cash                                                                                                                                                                                                                        |   | $           | -             |   |         | $      | 1,040 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total current assets                                                                                                                                                                                                        |   |        | -             |   |         |   | 1,040- |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| PROPERTY AND EQUIPMENT, NET:                                                                                                                                                                                                |   |        | 328           |   |         |   | 350 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| OTHER ASSETS:                                                                                                                                                                                                               |   |        |          |   |         |   |   |   |
| Depository payment towards acquisition of iron ore mine                                                                                                                                                                     |   |        | 250,000       |   |         |   | 250,000 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total assets                                                                                                                                                                                                                |   | $           | 250,328       |   |         | $      | 251,390 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIENCY                                                                                                                                                                              |   |        |          |   |         |   |   |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| LIABILITIES:                                                                                                                                                                                                                |   |        |          |   |         |   |   |   |
| Accounts payable                                                                                                                                                                                                            |   | $           | 223,815       |   |         | $      | 164,215 |   |
| Cash overdraft                                                                                                                                                                                                              |   |        | 4,937         |   |         |   | - |   |
| Taxes payable                                                                                                                                                                                                               |   |        | 10,716        |   |         |   | 8,716 |   |
| Accrued interest payable                                                                                                                                                                                                    |   |        | 26,065        |   |         |   | 15,193 |   |
| Due to  stockholders                                                                                                                                                                                              |   |        | 12,500        |   |         |   | 7,302 |   |
| Loans payable                                                                                                                                                                                                               |   |        | 205,000       |   |         |   | 205,000 |   |
| Convertible debentures, net of debt discount of $26,000 and $0 as of March 31, 2012 and December  31, 2011                                                                                                        |   |        | 54,500        |   |         |   | 48,000 |   |
| Derivative liability                                                                                                                                                                                                        |   |        | 377,600       |   |         |   | 1,372,600 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total current liabilities                                                                                                                                                                                                   |   |        | 915,133       |   |         |   | 1,821,026 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Convertible debentures, net of debt discount of $137,000 and $144,400 as of March 31, 2012 and December  31, 2011, net of current portion                                                                         |   |        | 263,000       |   |         |   | 255,600 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total liabilities                                                                                                                                                                                                           |   |        | 1,178,133     |   |         |   | 2,076,626 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| STOCKHOLDERS’ DEFICIENCY:                                                                                                                                                                                             |   |        |          |   |         |   |   |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Convertible Preferred Stock Class A, no par value, 100,000 shares  authorized at March 31, 2012 and at December 31, 2011.Issued and outstanding 20,000 shares  at March 31, 2012 and December 31, 2011. |   |        |   46,000 |   |         |   | 46,000 |   |
| Convertible Preferred Stock Class B, no par value, 400,000 shares authorized at March 31, 2012 and at December 31, 2011. None issued and outstanding at March 31, 2012 and December 31, 2011.                               |   |        |   -      |   |         |   | - |   |
| Preferred Stock Class C, no par value, 50,000 shares authorized at March 31, 2012 and at December 31, 2011.Issued and outstanding 20,000 shares at March 31, 2012 and December 31, 2011                                     |   |        |   9,000  |   |         |   | 9,000 |   |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Common stock, par value $.001 per share; authorized 500,000,000 shares, issued and outstanding 85,058,759 shares at March 31, 2012 and  December 31, 2011                                                         |   |        | 85,059        |   |         |   | 85,059 |   |
| Additional paid in capital                                                                                                                                                                                                  |   |        | 164,039       |   |         |   | 164,039 |   |
| Deficit accumulated during the development stage                                                                                                                                                                            |   |        | (1,231,903    | )      |         |   | (2,129,334 | ) |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total stockholder’s deficiency                                                                                                                                                                                        |   |        | (927,805      | )      |         |   | (1,825,236 | ) |
|                                                                                                                                                                                                                        |   |        |          |   |         |   |   |   |
| Total liabilities and stockholder’s deficiency                                                                                                                                                                        |   | $           | 250,328       |   |         | $      | 251,390 |   |

----

|                                                  |   | Three Months Ended |        |    | January 3, 2006 (date of commencement as a development |   |
|-------------------------------------------------------|--------|--------------------|-------------|---------|--------------------------------------------------------|--------|
|                                                  |   |               |        |    |                                                   |   |   | stage company) |   |
|                                                  |   |               |        |    |                                                   |   |   | though |   |
|                                                  |   | March 31,          |        |    | March 31,                                              |   |   | March 31, |   |
|                                                  |   | 2012               |        |    | 2011                                                   |   |   | 2012 |   |
|                                                  |   | (Unaudited)        |        |    | (Unaudited)                                            |   |   | (Unaudited) |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |
| REVENUES                                              |   | $                  | -           |    |                                                   | $      | - |   |   | $ | 7,500 |   |
| COST OF REVENUES                                      |   |               | -           |    |                                                   |   | - |   |   |   | 3,135 |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Gross profit                                          |   |               | -           |    |                                                   |   | - |   |   |   | 4,365 |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| OPERATING EXPENSES:                                   |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Officers’ compensation                          |   |               | 25,000      |    |                                                   |   | - |   |   |   | 125,000 |   |
| Mine related expenses                                 |   |               | 5,000       |    |                                                   |   | - |   |   |   | 237,500 |   |
| Consulting fees                                       |   |               | 17,500      |    |                                                   |   | 15,000 |   |   |   | 137,500 |   |
| General and administrative                            |   |               | 57,796      |    |                                                   |   | 1,466 |   |   |   | 480,301 |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Total operating expenses                              |   |               | 105,296     |    |                                                   |   | 16,466 |   |   |   | 980,301 |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Operating loss                                        |   |               | (105,296    | )       |                                                   |   | (16,466 | ) |   |   | (975,936 | ) |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| OTHER INCOME AND (EXPENSES):                          |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Interest income                                       |   |               | -           |    |                                                   |   | - |   |   |   | 12 |   |
| Other income                                          |   |               | -           |    |                                                   |   | - |   |   |   | 17,500 |   |
| Change in fair value of derivative liability          |   |               | 1,027,100   |    |                                                   |   | - |   |   |   | 381,500 |   |
| Interest expense                                      |   |               | (24,373     | )       |                                                   |   | (609 | ) |   |   | (628,879 | ) |
| Loss on negotiated debt settlement                    |   |               | -           |    |                                                   |   | - |   |   |   | (26,100 | ) |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Total other income and (expenses)                     |   |               | 1,002,727   |    |                                                   |   | (609 | ) |   |   | (255,967 | ) |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Net income (loss)                                     |   | $                  | 897,431     |    |                                                   | $      | (17,075 | ) |   | $ | (1,231,903 | ) |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Earnings per share:                                   |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Basic                                                 |   | $                  | 0.01        |    |                                                   | $      | (0.05 | ) |   |   |   |   |
| Diluted                                          |   | $                  | (0.00       | )  |                                                   | $      | (0.05 | ) |   |   |   |   |
|                                                  |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Weighted average number of common shares outstanding: |   |
| shares outstanding:                                   |   |               |        |    |                                                   |   |   |   |   |   |   |   |
| Basic                                                 |   |               | 85,058,759  |    |                                                   |   | 338,731 |   |   |   |   |   |
| Diluted                                               |   |               | 107,296,535 |    |                                                   |   | 338,731 |   |   |   |   |   |

----

|                                                                                 |   | Three Months Ended |       |   | January 3, 2006 (date of commencement as a development |   |
|--------------------------------------------------------------------------------------|--------|--------------------|------------|--------|--------------------------------------------------------|--------|
|                                                                                 |   |               |       |   |                                                   |   |   | stage company) |   |
|                                                                                 |   |               |       |   |                                                   |   |   | though |   |
|                                                                                 |   | March 31,          |       |   | March 31,                                              |   |   | March 31, |   |
|                                                                                 |   | 2012               |       |   | 2011                                                   |   |   | 2012 |   |
|                                                                                 |   | (Unaudited)        |       |   | (Unaudited)                                            |   |   | (Unaudited) |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                |   |               |       |   |                                                   |   |   |   |   |
| Net income  (loss)                                                         |   | $                  | 897,431    |   |                                                   | $      | (17,075 | ) |   | $ | (1,231,903 | ) |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Adjustments to reconcile net income (loss) to net cash used by operating activities: |   |               |       |   |                                                   |   |   |   |   |   |   |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Depreciation expense                                                                 |   |               | 22         |   |                                                   |   | 466 |   |   |   | 9,238 |   |
| Impairment of equipment                                                              |   |               | -          |   |                                                   |   | - |   |   |   | 3,907 |   |
| Change in fair value of derivative liability                                         |   |               | (1,027,100 | )      |                                                   |   | - |   |   |   | (381,500 | ) |
| Amortization of debt discount                                                        |   |               | 13,500     |   |                                                   |   | - |   |   |   | 57,100 |   |
| Interest expense                                                                     |   |               | -          |   |                                                   |   | - |   |   |   | 539,000 |   |
| Stock based compensation                                                             |   |               | -          |   |                                                   |   | - |   |   |   | 120,000 |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Changes in assets and liabilities:                                                   |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Accounts payable                                                                     |   |               | 59,600     |   |                                                   |   | 14,500 |   |   |   | 282,790 |   |
| Taxes payable                                                                        |   |               | 2,000      |   |                                                   |   | 1,500 |   |   |   | 10,716 |   |
| Accrued interest payable                                                             |   |               | 10,872     |   |                                                   |   | 609 |   |   |   | 47,897 |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| NET CASH USED BY OPERATING ACTIVITIES                                                |   |               | (43,675    | )      |                                                   |   | - |   |   |   | (542,755 | ) |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Purchase of property and equipment                                                   |   |               | -          |   |                                                   |   | - |   |   |   | (13,473 | ) |
| Depository payment towards acquisition of mine                                       |   |               | -          |   |                                                   |   | - |   |   |   | (250,000 | ) |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| NET CASH USED BY INVESTING ACTIVITIES                                                |   |               | -          |   |                                                   |   | - |   |   |   | (263,473 | ) |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Cash overdraft                                                                       |   |               | 4,937      |   |                                                   |   | - |   |   |   | 4,937 |   |
| Repayment of advances                                                                |   |               | -          |   |                                                   |   | - |   |   |   | (1,844 | ) |
| Cash proceeds from loans                                                             |   |               | -          |   |                                                   |   | - |   |   |   | 217,900 |   |
| Cash proceeds from stockholders advances                                             |   |               | 5,198      |   |                                                   |   | - |   |   |   | 14,344 |   |
| Cash proceeds from issuance of convertible debentures                                |   |               | 32,500     |   |                                                   |   | - |   |   |   | 480,500 |   |
| Issuance of common stock for cash                                                    |   |               | -          |   |                                                   |   | - |   |   |   | 90,391 |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                                            |   |               | 42,635     |   |                                                   |   | - |   |   |   | 806,228 |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Decrease  in cash                                                          |   |               | (1,040     | )      |                                                   |   | - |   |   |   | - |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Cash, beginning of period                                                            |   |               | 1,040      |   |                                                   |   | - |   |   |   | - |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Cash, end of period                                                                  |   | $                  | -          |   |                                                   | $      | - |   |   | $ | - |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Supplemental Disclosure of Cash Flow Information:                                    |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Cash paid for interest                                                               |   | $                  | -          |   |                                                   | $      | - |   |   | $ | - |   |
| Cash paid for income taxes                                                           |   | $                  | -          |   |                                                   | $      | - |   |   | $ | - |   |
|                                                                                 |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Non-cash investing and financing activities:                                         |   |               |       |   |                                                   |   |   |   |   |   |   |   |
| Debt discount related to convertible debentures                                      |   | $                  | 32,100     |   |                                                   | $      | - |   |   | $ | 220,100 |   |
| Conversion of accrued interest to principal                                          |   | $                  | -          |   |                                                   | $      | - |   |   | $ | 3,156 |   |
| Issuance of shares for the settlement of debt                                        |   | $                  | -          |   |                                                   | $      | - |   |   | $ | 77,857 |   |

----

----

----

|                                              |   | Quoted Prices in Active Markets for Identical Liabilities(Level 1) |                  |   | Significant Other Observable Inputs(Level 2) |   |                  |  Significant ObservableInputs(Level 3) |   |   |   Balance atMarch 31,2012 |   |
|---------------------------------------------------|--------|--------------------------------------------------------------------|-----------------------|--------|----------------------------------------------|--------|-----------------------|---------------------------------------------|--------|--------|-------------------------------------|--------|
| Embedded conversion feature –March 31, 2012 |   | $                                                                  |      - |   |                                         | $      |      - |                                        |   | $      |      377,600         |   |   | $ |      377,600 |   |

----

|                                         |   | Embedded ConversionFeature |       |
|----------------------------------------------|--------|----------------------------|------------|
| Balance January 1, 2012                      |   | $                          | 1,372,600  |   |
|                                         |   |                       |       |   |
| Included in other income expense             |   |                       |       |   |
| Change in fair value of derivative liability |   |                       | (1,027,100 | ) |
| Included in liabilities (debt discount)      |   |                       | 32,100     |   |
| Included in stockholder's equity             |   |                       | --         |   |
| Transfers in and /or out of Level 3          |   |                       | --         |   |
| Balance March 31, 2012                       |   | $                          | 377,600    |   |

| Date              |   | Amount  |      |
|-------------------|--------|---------|-----------|
| May 31, 2012      |   | $       | 400,000   |   |
| August 31, 2012   |   |    | 500,000   |   |
| February 28, 2013 |   |    | 500,000   |   |
| August 31, 2013   |   |    | 500,000   |   |
| February 28, 2014 |   |    | 500,000   |   |
| August 31, 2014   |   |    | 500,000   |   |
| Total payments    |   | $  | 2,900,000 |   |

|                                           |   | Three months ended March 31, |        |
|------------------------------------------------|--------|------------------------------|-------------|
|                                           |   | 2012                         |        |   | 2011 |   |
| Numerator:                                     |   |                         |        |   |   |   |
| Numerator for basic earnings (loss) per share  |   |                         |        |   |   |   |
| Net income (loss) as reported                  |   | $                            | 897,431     |   |   | $ | (17,075 | ) |
|                                           |   |                         |        |   |   |   |   |   |
| Effect of dilutive securities:                 |   |                         |        |   |   |   |   |   |
| Interest on convertible debentures             |   |                         | 5,536       |   |   |   | -- |   |
| Amortization of debt discount                  |   |                         | 13,500      |   |   |   | -- |   |
| Change in fair value of derivative liability   |   |                         | (1,027,100  | ) |   |   | -- |   |
| Numerator for basic earnings (loss) per share- |   |                         |        |   |   |   |   |   |
| net income (loss) as adjusted                  |   | $                            | (110,633    | ) |   | $ | (17,075 | ) |
|                                           |   |                         |        |   |   |   |   |   |
| Denominator:                                   |   |                         |        |   |   |   |   |   |
| Denominator for basic earnings per share-      |   |                         |        |   |   |   |   |   |
| weighted average shares                        |   |                         | 85,058,759  |   |   |   | 338,731 |   |
|                                           |   |                         |        |   |   |   |   |   |
| Effect of dilutive securities:                 |   |                         |        |   |   |   |   |   |
| Assumed conversion of                          |   |                         |        |   |   |   |   |   |
| convertible debentures                         |   |                         | 2,237,776   |   |   |   | -- |   |
| convertible preferred stock class A            |   |                         | 20,000,000  |   |   |   | -- |   |
| Dilutive potential common shares               |   |                         | 22,237,776  |   |   |   | -- |   |
|                                           |   |                         |        |   |   |   |   |   |
| Denominator for diluted earnings per share-    |   |                         |        |   |   |   |   |   |
| adjusted weighted average shares               |   |                         |        |   |   |   |   |   |
| and assumed conversions                        |   |                         | 107,296,535 |   |   |   | 338,731 |   |
|                                           |   |                         |        |   |   |   |   |   |
| Net income (loss) available to common          |   |                         |        |   |   |   |   |   |
| Stockholders                                   |   |                         |        |   |   |   |   |   |
| Basic                                          |   | $                            | 0.01        |   |   | $ | (0.05 | ) |
| Diluted                                        |   | $                            | (0.00       | ) |   | $ | (0.05 | ) |

----

|   | a) | On February 8, 2012, the Company borrowed $32,500 from an unrelated third party, pursuant to a convertible debenture agreement. The debenture bears interest at 8% per annum and matures on November 6, 2012.  The loan agreement provides for the right of the holder to convert the loan principal and interest into shares of common stock at a stated conversion price of the average of the 2 lowest daily trades in the previous 30 days with a 49% discount. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

| ● | pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company,                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with US GAAP, and that receipts and expenditures are being made only in accordance with authorizations of management and directors of the company, and |
| ● | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.                                                                          |

----

----

| Exhibit    31.1 | Certification Pursuant to Section 302 of the Sarbanes Oxley Act |
|-------------------------------------|-----------------------------------------------------------------|
|                                |                                                            |
| Exhibit    32.1 | Certification Pursuant to Section 906 of the Sarbanes Oxley Act |

----

|         | ALL GRADE MINING, INC.                                                                                 |
|--------------|--------------------------------------------------------------------------------------------------------|
|         |                (Registrant) |
|         |                                                                                                   |
|         |                                                                                                   |
|         |                                                                                                   |
| May 21, 2012 |                                                                                                   |
|         |                                                                                                   |
|         | /s/Gary Kouletas                                                                                       |
|         | Gary Kouletas                                                                                          |
|         | President (Principal Executive Officer)                                                                |
|         |                                                                                                   |

----