UNITED
STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM
10-QSB

(X)	QUARTERLY REPORT UNDER
SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934

For
the quarterly period ended July 31, 2006

(   )	TRANSITION REPORT UNDER
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT

For
the transition period from ______________ to ______________

Commission
File Number 000-52055

RED
LAKE EXPLORATION, INC.

(Name
of small business issuer in its charter)

|NEVADA(State
				of incorporation or organization) | 00-0000000(IRS
				Identification No.)
|-------------------------------------------------- | --------------------------------------

10168
Lawson DriveRichmond, British ColumbiaCanada, V7E
5M3(Address of principal executive offices)

(604)
961-0301(Issuer’s telephone number)

N/A(Issuer’s
former address)

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

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

5,525,000
shares of issuer’s common stock, $0.001 par value, were
outstanding at September 1, 2006.  Issuer has no other class of
common equity.

Transitional
Small Business Disclosure Format (Check One)				Yes
	NoX

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PART
I.  FINANCIAL INFORMATION

Red
Lake Exploration, Inc.(An Exploration Stage
Company)

July
31, 2006

|                                      | Index
|------------------------------------- | -----
|Balance
				Sheets                    | F–1  
|Statements
				of Operations          | F–2  
|Statements
				of Cash Flows          | F–3  
|Notes
				to the Financial Statements | F–4  



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Red
Lake Exploration, Inc.(An Exploration Stage
Company)Balance Sheets(Expressed in US
Dollars)(Unaudited)

|                                                                                                       | July
					31,2006$ |  | January
					31,2006$
|------------------------------------------------------------------------------------------------------ | ------------------ |  | ---------------------
|ASSETS                                                                                                 |                    |  |                      
|Current
					Assets                                                                                    |                    |  |                      
|Cash                                                                                                   | 32,777             |  | 49,062               
|Total
					Assets                                                                                      | 32,777             |  | 49,062               
|                                                                                                       |                    |  |                      
|LIABILITIES
					AND STOCKHOLDERS’ EQUITY                                                              |                    |  |                      
|Current
					Liabilities                                                                               |                    |  |                      
|Accounts
					Payable                                                                                  | 1,300              |  | −                    
|Total
					Liabilities                                                                                 | 1,300              |  | −                    
|Contingencies
					and Commitments  (Notes 1 and 4)                                                    |                    |  |                      
|Stockholders’
					Equity                                                                              |                    |  |                      
|Common
					Stock, 75,000,000 shares authorized, $0.001 par value5,525,000
					issued and outstanding | 5,525              |  | 5,525                
|Additional
					Paid-In Capital                                                                        | 53,725             |  | 53,725               
|Donated
					Capital (Note 3)                                                                          | 7,500              |  | 3,000                
|Deficit
					Accumulated During the Exploration Stage                                                  | (35,273)           |  | (13,188)             
|Total
					Stockholders’ Equity                                                                        | 31,477             |  | 49,062               
|Total
					Liabilities and Stockholders’ Equity                                                        | 32,777             |  | 49,062               



(The accompanying notes are an integral part of these financial statements)
F-1

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Red
Lake Exploration, Inc.(An Exploration Stage Company)Statements
of Operations(Expressed in US Dollars)(Unaudited)

|                                               | Accumulated
					fromJanuary 10, 2005(Date of Inception)to July
					31,2006$ | For
					the ThreeMonths EndedJuly 31,2006$ | For
					the Three Months EndedJuly 31,2005$ | For
					the SixMonths EndedJuly 31,2006$ | For
					the SixMonths EndedJuly 31,2005$
|---------------------------------------------- | ----------------------------------------------------------------------------- | ------------------------------------------- | -------------------------------------------- | ----------------------------------------- | -----------------------------------------
|Revenue                                        | −                                                                             | −                                           | −                                            | −                                         | −                                        
|                                               |                                                                               |                                             |                                              |                                           |                                          
|Expenses                                       |                                                                               |                                             |                                              |                                           |                                          
|General
					and administrative                | 9,263                                                                         | 2,761                                       | −                                            | 5,075                                     | −                                        
|Impairment
					loss on mineral property costs | 9,000                                                                         | −                                           | −                                            | −                                         | −                                        
|Mineral
					exploration costs                 | 3,210                                                                         | 3,210                                       | −                                            | 3,210                                     | −                                        
|Professional
					fees                         | 13,800                                                                        | 5,300                                       | −                                            | 13,800                                    | −                                        
|Total
					Expenses                            | 35,273                                                                        | 11,271                                      | −                                            | 22,085                                    | −                                        
|Net
					Loss                                  | (35,273)                                                                      | (11,271)                                    | −                                            | (22,085)                                  | −                                        
|Net
					Loss Per Share – Basic and Diluted    |                                                                               | −                                           | −                                            | −                                         | −                                        
|Weighted
					Average Shares Outstanding       |                                                                               | 5,525,000                                   | −                                            | 5,525,000                                 | −                                        



(The accompanying notes are an integral part of these financial statements)
F-2

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Red
Lake Exploration, Inc.(An Exploration Stage Company)Statements
of Cash Flows(Expressed in US Dollars)(Unaudited)

|                                                                                 |  | For
					the SixMonths EndedJuly 31,2006$ | For
					the SixMonths Endedto July 31,2005$
|-------------------------------------------------------------------------------- |  | ----------------------------------------- | --------------------------------------------
|Operating
					Activities                                                        |  |                                           |                                             
|Net
					loss                                                                    |  | (22,085)                                  | −                                           
|Adjustments
					to reconcile net loss to net cash used in operating activities: |  |                                           |                                             
|Donated
					services and rent                                                   |  | 4,500                                     | −                                           
|Change
					in operating assets and liabilities:                                 |  |                                           |                                             
|Accounts
					payable                                                            |  | 1,300                                     | −                                           
|Net
					Cash Used In Operating Activities                                       |  | (16,285)                                  | −                                           
|Investing
					Activities                                                        |  | −                                         | −                                           
|Financing
					Activities                                                        |  | −                                         | −                                           
|Decrease
					in Cash                                                            |  | (16,285)                                  | −                                           
|Cash
					- Beginning of Period                                                  |  | 49,062                                    | −                                           
|Cash
					- End of Period                                                        |  | 32,777                                    | −                                           
|                                                                                 |  |                                           |                                             
|Supplemental
					Disclosures                                                    |  |                                           |                                             
|Interest
					paid                                                               |  | −                                         | −                                           
|Income
					taxes paid                                                           |  | −                                         | −                                           



(The accompanying notes are an integral part of these financial statements)
F-3

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Red Lake Exploration, Inc.
(An Exploration Stage Company)
Notes to the Financial Statements
July 31, 2006
(Expressed in U.S. Dollars)
(Unaudited)

1. Exploration
	Stage Company

	The
	Company was incorporated in the State of Nevada on January 10, 2005,
	and commenced operations during October, 2005. The Company is an
	Exploration Stage Company, as defined by Statement of Financial
	Accounting Standard (“SFAS”) No.7 “Accounting
	and Reporting by Development Stage Enterprises”. The
	Company’s principal business is the acquisition and exploration
	of mineral resources. The Company has not presently determined
	whether its properties contain mineral reserves that are economically
	recoverable.
	These
	financial statements have been prepared on a going concern basis,
	which implies the Company will continue to realize its assets and
	discharge its liabilities in the normal course of business. The
	Company has never generated revenues since inception and has never
	paid any dividends and is unlikely to pay dividends or generate
	earnings in the immediate or foreseeable future. The continuation of
	the Company as a going concern is dependent upon the continued
	financial support from its shareholders, the ability of the Company
	to obtain necessary equity financing to continue operations,
	confirmation of the Company’s interests in the underlying
	properties, and the attainment of profitable operations. As at July
	31, 2006, the Company has working capital of $31,477 and accumulated
	losses of $35,273 since inception. These factors raise substantial
	doubt regarding the Company’s ability to continue as a going
	concern. These financial statements do not include any adjustments to
	the recoverability and classification of recorded asset amounts and
	classification of liabilities that might be necessary should the
	Company be unable to continue as a going concern.
	The
	Company filed an SB-2 Registration Statement with the United States
	Securities and Exchange Commission that was declared effective on
	June 14, 2006, to register 2,525,000 shares of common stock for
	resale by existing shareholders of the Company at $0.05 per share
	until the shares are quoted on the OTC Bulletin Board, and thereafter
	at prevailing market prices. The Company did not receive any proceeds
	from the resale of shares of common stock by the selling
	stockholders.

1. Summary
	of Significant Accounting Policies

Basis
	of Presentation

	These
	financial statements and related notes are presented in accordance
	with accounting principles generally accepted in the United States,
	and are expressed in US dollars.  The Company’s fiscal year-end
	is January 31. Use
	of Estimates

	The
	preparation of financial statements in conformity with US generally
	accepted accounting principles requires management to make estimates
	and assumptions that affect the reported amounts of assets and
	liabilities and disclosure of contingent assets and liabilities at
	the date of the financial statements and the reported amounts of
	revenues and expenses during the reporting period. Actual results
	could differ from those estimates. Basic
	and Diluted Net Income (Loss) Per Share

	The
	Company computes net income (loss) per share in accordance with SFAS
	No. 128, "Earnings per Share". SFAS No. 128 requires
	presentation of both basic and diluted earnings per share (EPS) on
	the face of the income statement. Basic EPS is computed by dividing
	net income (loss) available to common shareholders (numerator) by the
	weighted average number of shares outstanding (denominator) during
	the period. Diluted EPS gives effect to all dilutive potential common
	shares outstanding during the period using the treasury stock method
	and convertible preferred stock using the if-converted method. In
	computing diluted EPS, the average stock price for the period is used
	in determining the number of shares assumed to be purchased from the
	exercise of stock options or warrants. Diluted EPS excludes all
	dilutive potential shares if their effect is anti dilutive. Comprehensive
	Loss

	SFAS
	No. 130, “Reporting Comprehensive Income,”
	establishes standards for the reporting and display of comprehensive
	loss and its components in the financial statements. As at July 31,
	2006 and 2005, the Company has no items that represent a
	comprehensive loss and, therefore, has not included a schedule of
	comprehensive loss in the financial statements. Cash
	and Cash Equivalents

	The
	Company considers all highly liquid instruments with maturity of
	three months or less at the time of issuance to be cash equivalents.


F-4

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Red Lake Exploration, Inc.
(An Exploration Stage Company)
Notes to the Financial Statements
July 31, 2006
(Expressed in U.S. Dollars)
(Unaudited)

1. Summary
	of Significant Accounting Policies (continued)

Mineral
	Property Costs

	The
	Company has been in the exploration stage since its inception on
	January 10, 2005 and has not yet realized any revenues from its
	planned operations. It is primarily engaged in the acquisition and
	exploration of mining properties. Mineral property exploration costs
	are expensed as incurred. Mineral property acquisition costs are
	initially capitalized when incurred using the guidance in EITF 04-02,
	“Whether Mineral Rights Are Tangible or Intangible Assets”.
	The Company assesses the carrying costs for impairment under SFAS
	144, “Accounting for Impairment or Disposal of Long Lived
	Assets” at each fiscal quarter end. When it has been
	determined that a mineral property can be economically developed as a
	result of establishing proven and probable reserves, the costs then
	incurred to develop such property, are capitalized. Such costs will
	be amortized using the units-of-production method over the estimated
	life of the probable reserve. If mineral properties are subsequently
	abandoned or impaired, any capitalized costs will be charged to
	operations. Long-Lived
	Assets

	In
	accordance with SFAS No. 144, “Accounting for the Impairment
	or Disposal of Long-Lived Assets”, the carrying value of
	long-lived assets is reviewed on a regular basis for the existence of
	facts or circumstances that may suggest impairment. The Company
	recognizes impairment when the sum of the expected undiscounted
	future cash flows is less than the carrying amount of the asset.
	Impairment losses, if any, are measured as the excess of the carrying
	amount of the asset over its estimated fair value Financial
	Instruments

	The
	fair value of financial instruments, which includes cash and accounts
	payable was estimated to approximate its carrying value due to the
	immediate or short-term maturity of these financial instruments. The
	Company’s operations are in Canada which results in exposure to
	market risks from changes in foreign currency rates. The financial
	risk is the risk to the Company’s operations that arise from
	fluctuations in foreign exchange rates and the degree of volatility
	of these rates. Currently, the Company does not use derivative
	instruments to reduce its exposure to foreign currency risk. Income
	Taxes

	Potential
	benefits of income tax losses are not recognized in the accounts
	until realization is more likely than not. The Company has adopted
	SFAS No. 109 “Accounting for Income Taxes” as of
	its inception. Pursuant to SFAS No. 109 the Company is required to
	compute tax asset benefits for net operating losses carried forward.
	The potential benefits of net operating losses have not been
	recognized in these financial statements because the Company cannot
	be assured it is more likely than not it will utilize the net
	operating losses carried forward in future years. Foreign
	Currency Translation

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

	Prior
	to February 1, 2006, the Company accounted for stock-based awards
	under the recognition and measurement provisions of Accounting
	Principles Board Opinion No. 25, “Accounting for Stock
	Issued to Employees” using the intrinsic value method of
	accounting, under which compensation expense was only recognized if
	the exercise price of the Company’s employee stock options was
	less than the market price of the underlying common stock on the date
	of grant. Effective February 1, 2006, the Company adopted the fair
	value recognition provisions of SFAS No. 123R “Share Based
	Payments”, using the modified retrospective transition
	method. There was no effect on the Company’s reported loss from
	operations, cash flows or loss per share as a result of adopting SFAS
	No 123R.


F-5

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Red Lake Exploration, Inc.
(An Exploration Stage Company)
Notes to the Financial Statements
July 31, 2006
(Expressed in U.S. Dollars)
(Unaudited)

1. Summary
	of Significant Accounting Policies (continued)

Interim
	Financial Statements

	These
	interim unaudited financial statements for the periods ended July 31,
	2006 and 2005 have been prepared on the same basis as the annual
	financial statements and in the opinion of management, reflect all
	adjustments, which include only normal recurring adjustments,
	necessary to present fairly the Company’s financial position,
	results of operations and cash flows for the periods shown. The
	results of operations for such periods are not necessarily indicative
	of the results expected for a full year or for any future period. Recent
	Accounting Pronouncements

	In
	December 2004, the FASB issued SFAS No. 153, “Exchanges of
	Nonmonetary Assets - An Amendment of APB Opinion No. 29”.
	The guidance in APB Opinion No. 29, “Accounting for
	Nonmonetary Transactions”, is based on the principle that
	exchanges of nonmonetary assets should be measured based on the fair
	value of the assets exchanged. The guidance in that Opinion, however,
	included certain exceptions to that principle.  SFAS No. 153 amends
	Opinion No. 29 to eliminate the exception for nonmonetary exchanges
	of similar productive assets and replaces it with a general exception
	for exchanges of nonmonetary assets that do not have commercial
	substance. A nonmonetary exchange has commercial substance if the
	future cash flows of the entity are expected to change significantly
	as a result of the exchange.  The provisions of SFAS No. 153 are
	effective for nonmonetary asset exchanges occurring in fiscal periods
	beginning after June 15, 2005. Early application is permitted and
	companies must apply the standard prospectively. The adoption of this
	standard did not have a material effect on the Company’s
	results of operations or financial position.
	In
	May 2005, the Financial Accounting Standards Board (FASB) issued SFAS
	No. 154, “Accounting Changes and Error Corrections – A
	Replacement of APB Opinion No. 20 and SFAS No. 3”. SFAS 154
	changes the requirements for the accounting for and reporting of a
	change in accounting principle and applies to all voluntary changes
	in accounting principle. It also applies to changes required by an
	accounting pronouncement in the unusual instance that the
	pronouncement does not include specific transition provisions. SFAS
	154 requires retrospective application to prior periods’
	financial statements of changes in accounting principle, unless it is
	impracticable to determine either the period-specific effects or the
	cumulative effect of the change. The provisions of SFAS No. 154 are
	effective for accounting changes and correction of errors made in
	fiscal years beginning after December 15, 2005. The adoption of this
	standard did not have a material effect on the Company’s
	results of operations or financial position.
	The
	FASB has also issued SFAS No. 155 “Accounting for Certain
	Hybrid Financial Instruments” and SFAS No. 156 “Accounting
	for Servicing of Financial Assets”, but they will not have
	any relationship to the operations of the Company. Therefore a
	description and its impact for each on the Company’s operations
	and financial position have not been disclosed.


1. Related
	Party Transactions

	The
	Company recognizes donated rent at $250 per month and donated
	services provided by the President of the Company at $500 per month.
	For the six month period ended July 31, 2006, the Company recognized
	$1,500 (2005 - $Nil) in donated rent and $3,000 (2005 - $Nil) in
	donated services.

1. Mineral
	Properties

	The
	Company entered into an Agreement dated November 15, 2005 to acquire
	a 100% interest in three mineral claims located in
	the Red Lake Mining District, Ontario, Canada, in
	consideration for a cash payment of $9,000 (paid). The claims are
	registered in the name of the President of the Company, who has
	executed a trust agreement whereby the President agreed to hold the
	claims in trust on behalf of the Company. The Company was required to
	incur exploration expenditures of $11,200 prior to the expiry date of
	August 27, 2006 to retain title to the claims.  Refer to Note 5.

1. Subsequent
	Event

	On
	August 15, 2006, the Company filed for a 90 day extension with the
	Mines and Minerals Division of the Ontario Ministry of Northern
	Development and Mines (the “Ministry”), related to the
	Company’s 100% interest in three mineral claims located in the
	Red Lake Mining District, Ontario, Canada. The extension was granted
	by the Ministry whereby the Company must incur a minimum of
	CDN$11,200 of exploration expenditures prior to the expiry date of
	November 27, 2006 or lose title to the respective claims.

F-6

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Item
2.  Management's Discussion and Analysis.

SB-2
Registration Statement

We filed an SB-2 Registration
Statement with the United States Securities and Exchange Commission
that was declared effective on June 14, 2006 to register 2,525,000
shares of common stock for resale by existing shareholders of our
Company at $0.05 per share until the shares are quoted on the OTC
Bulletin Board, and thereafter at prevailing market prices. Our
Company did not receive any proceeds from the resale of shares of
common stock by the selling stockholders.

Market
Maker Sponsorship

We have not yet contacted
an authorized OTC Bulletin Board market maker for sponsorship of our
securities on the OTC Bulletin Board. We intend to engage a market
maker to file an application on our behalf in order to make a market
for our common stock by September 12, 2006.

Time
Extension Granted

The mining claims
KRL3016881, KRL3016882, and KRL3016883 (the “Claims”) in
the Red Lake mining division, in Ontario, Canada are being held in
trust via its trustee John Di Cicco (the “Trustee”). On
August 28, 2006, the Trustee was granted a time extension for
exploration on the Claims. The Ministry of Northern Development and
Mines (the “Ministry”) has granted the Trustee an
extension to November 27, 2006, for work and filing of assessment
work on the Claims.

Agreement
to Coordinate and File Assessment Work

On August 29, 2006,
we engaged Coast Mountain Geological, Ltd. (“Coast Mountain”)
to assist with exploration on the Claims. The engagement was
undertaken via a verbal agreement between the Company and Coast
Mountain. Coast Mountain will coordinate a work program consisting of
a 15 to 20 line km (approximately 20 miles) of magnetometer survey,
with readings every 12.5 meters (approximately 40 feet) on the
Claims. Coast Mountain will also prepare a report and assist to file
the assessment work with the Ministry. The anticipated cost of the
work program, report and filing is $13,700 (before
10% contingency costs).

Plan
of Operation

Exploration
Plan

Our
plan of operation for the foreseeable future is to complete the
following objectives within the time periods specified, subject to
our obtaining any additional funding necessary for the continued
exploration of our mining claims. We do not have enough funds to
complete our Phase Two or Phase Three programs which we would plan to
start in the summer of 2007 if the results of our Phase One
exploration program is encouraging. The following is a brief summary
of our three phase exploration program:

1. The
	next anniversary date of our mining claims is November 27, 2006. In
	order to keep the claims in good standing we must perform and
	register exploration work with the province of Ontario of at least
	CDN$11,200 over our three mining claims. As recommended by our
	consulting geologist, we plan to conduct the first phase of our
	three phase exploration program starting in September 2006. This
	Phase One exploration program is expected to cost approximately
	$13,700 (before 10% contingency costs). A field crew will mobilize
	onto our claims and will establish a grid and perform approximately
	20 miles of magnetometer survey and then demobilize from the area.
2. The
	results obtained during the Phase One exploration program will be
	assembled, interpreted and we will review the results of the Phase
	One exploration program between December 2006 and March 2007. We
	will engage our consulting geologist to interpret the results of
	Phase One and develop a summary report.
3. If
	the Phase Two program were to proceed, our consulting geologist has
	indicated that we should budget approximately CDN$25,500 for our
	Phase Two program. If we proceed with a Phase Two program we would
	do so in July 2007. A field crew will mobilize onto our claims,
	perform line cutting and perform a 6 mile UTEM survey and then
	demobilize from the area. A UTEM survey utilizes more precise modern
	equipment to measure electromagnetic distortions caused by metallic
	minerals in rocks.

---

1. In
	the case that the Phase Two program takes place, the results
	obtained during the Phase Two  program will be assembled,
	interpreted and we will review the results of the Phase Two program
	between September and December 2007. We will engage our consulting
	geologist to interpret the results of Phase Two and develop a
	summary report.
2. If
	the Phase Three program were to proceed, our consulting geologist
	has indicated that we should budget approximately CDN$113,000 for
	our Phase Three program. If we proceed with a Phase Three program we
	would do so in July 2008. A field crew will mobilize onto our claims
	and perform a significant amount of geochemical sampling.
3. In
	the case that the Phase Three program takes place, the results
	obtained during the Phase Three program will be assembled,
	interpreted and we will review the results of the Phase Two program
	between September and December 2008. We will engage our consulting
	geologist to interpret the results of Phase Three and develop a
	summary report. At this stage we will have a significantly better
	understanding of any mineralization on our claims.

As
at July 31, 2006, we had a cash balance of $32,777. If the results of
the Phase One exploration program are encouraging, we will have to
raise additional funds starting in March 2007 so that Phase Two
exploration could commence in July 2007.

During
the next 12 months, we do not anticipate generating any revenue. If
additional funds become required, the additional funding will come
from equity financing from the sale of our common stock or sale of
part of our interest in our mining claims. If we are successful in
completing an equity financing, existing shareholders will experience
dilution of their interest in our
company. We do not have
any financing arranged and we cannot provide investors with any
assurance that we will be able to raise sufficient funding from the
sale of our common stock to fund our Phase Two and Phase Three
programs. In the absence of such financing, our business will fail.

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

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

- Our ability to raise
	additional funding;
- The market price for gold;
- The results of our proposed
	exploration programs on the mineral property; and
- Our ability to find joint
	venture partners for the development of our property interests

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

### Phase One
Exploration Cost Review

The costs
described which include the proposed budget of our Phase One
exploration program as recommended by our consulting geologist. The
table below summarizes the cost estimate for the Phase One
exploration program.

---

|Phase
					One Exploration Items             | Cost
					EstimateCDN $
|-------------------------------------------- | -----------------------
|Mobilization/Demobilization                  | 2,000                  
|Grid
					Establishment                      | 3,000                  
|20
					Miles of Magnetometer Survey         | 7,000                  
|Miscellaneous
					Expenses                  | 500                    
|Results
					Interpretation & Summary Report | 2,500                  
|Contingency
					at 10%                      | 1,500                  
|Total                                        | 16,500                 

### Accounting and Audit Plan

We
intend to continue to have our outside consultant assist in the
preparation of our quarterly and annual financial statements and have
these financial statements reviewed or audited by our independent
auditor. Our outside consultant is expected to charge us
approximately $1,250 to prepare our quarterly financial statements
and approximately $1,750 to prepare our annual financial statements.
Our independent auditor is expected to charge us approximately $1,250
to review our quarterly financial statements and approximately $5,000
to audit our annual financial statements. In the next twelve months,
we anticipate spending approximately $14,250 to pay for our
accounting and audit requirements.

### Legal
Expense Plan

We
expect to incur filing costs of approximately $1,250 per quarter to
support our quarterly and annual filings. In the next twelve months,
we anticipate spending approximately $5,000 for legal costs to pay
for three quarterly filings and one annual filing.

### Risks and
Uncertainties

An
investment in our common stock involves a number of very significant
risks. Prospective investors should refer to all our risk factors
disclosed in our prospectus filed pursuant to Rule 424(b)(4) on June
15, 2006.

There
are a number of known material risks and uncertainties that are
reasonably likely to have a material impact on our revenues,
operations, liquidity and income over the short and long term. The
primary risk that we face over the long term is that our mining
claims may not contain a commercially viable mineral deposit. If our
mining claims do not contain a commercially viable deposit this will
have a material effect on our ability to earn revenue and income as
we will not be able to sell any minerals.

There
are a number of industry-wide risk factors that may effect our
business. The most significant industry-wide risk factor is that
mineral exploration is an inherently risky business. Very few
exploration companies go on to discover economically viable mineral
deposits or reserves that ultimately result in an operating mine. In
order for us to commence mining operations we face a number of
challenges which include finding qualified professionals to conduct
our exploration program, obtaining adequate financing to continue our
exploration program, locating a viable ore body, partnering with a
senior mining company, obtaining mining permits, and ultimately
selling minerals in order to generate revenue.

Another
important industry-wide risk factor is that the price of commodities
can fluctuate based on world demand and other factors. For example,
if the price of a mineral were to dramatically decline this could
make any ore we have on our mining claims be uneconomical to mine. We
and other companies in our business are  relying on a price of ore
that will allow us to develop a mine and ultimately generate revenue
by selling minerals.

Finally,
we face a risk of not being able to finance our exploration plans.
With each unsuccessful attempt at locating a commercially viable
mineral deposit we become more and more unattractive in the eyes of
investors. For the short term this is less of an issue because we
have enough funds to complete the first  phase of our exploration
program. However, over the long term this can become a serious issue
that can be difficult to overcome. Without adequate financing we
cannot operate exploration programs. However, this risk is faced by
all exploration companies and it is not unique to us.

---

# Off-Balance
Sheet Arrangements

We
have no off-balance sheet arrangements including arrangements that
would effect our liquidity, capital resources, market risk support
and credit risk support or other benefits.

# Forward
Looking Statements

The
information in this quarterly report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). These
forward-looking statements involve risks and uncertainties, including
statements regarding the Company's capital needs, business strategy
and expectations. Any statements contained herein that are not
statements of historical facts may be deemed to be forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may”, “will”,
“should”, “expect”, “plan”,
“intend”, “anticipate”,
“believe”, “estimate”,
“predict”, “potential” or
“continue”, the negative of such terms or other
comparable terminology. Actual events or results may differ
materially. In evaluating these statements, you should consider
various factors, including the risks outlined from time to time, in
other reports we file with the Securities and Exchange Commission
(the “SEC”). These factors may cause our actual
results to differ materially from any forward-looking statement. We
disclaim any obligation to publicly update these statements, or
disclose any difference between its actual results and those
reflected in these statements. The information constitutes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.



---

1. Evaluation
	of Disclosure of Controls and Procedures

	Our
	Principal Executive Officer and Principal Financial Officer have,
	within 90 days of the filing date of this report, evaluated the
	Company’s internal controls and procedures designed to ensure
	that information required to be disclosed in reports under the
	Securities Exchange Act of 1934 is recorded, processed, summarized
	and reported within specified time periods. After such review, our
	Principal Executive Officer and Principal Financial Officer have
	concluded that said information was accumulated and communicated to
	management as appropriate to allow timely decisions regarding
	required disclosure.

1. Changes
	in Internal Controls

	There
	were no significant changes in the Company’s internal controls
	or in other factors that could significantly affect these controls
	subsequent to the evaluation referred to in paragraph (a) above.

---

PART
II - OTHER INFORMATION

Item
1.  Legal Proceedings.

The
Company currently is not a party to any legal proceedings and, to the
Company’s knowledge, no such proceedings are threatened or
contemplated.

Item
2.  Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item
3.  Default Upon Senior Securities.

None.

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

None.

Item
5.  Other Information.

None.

Item
6.  Exhibits and Reports on Form 8-K.

1. Exhibits

	Exhibit
					Number
				Description
					of Exhibit31.1
				Certification
					of Principal Executive Officer and Principal Financial Officer
					pursuant to 18 U.S.C.§ 1350, as adopted pursuant to §
					302 of the Sarbanes-Oxley Act of 2002.32.1
				Certification
					of Principal Executive Officer and Principal Financial Officer
					pursuant to 18 U.S.C. § 1350, as adopted pursuant to §
					906 of the Sarbanes-Oxley Act of 2002.

1. Reports
	on Form 8-K

	The
	following Current Reports on Form 8-K were filed since the beginning
	of the quarterly period ended July 31, 2006.
	Date ofReport
					onForm 8-K(YYYY/MM/DD)
				Date of Filingwith
					the SEC(YYYY/MM/DD)
				Description of Form
					8-K2006/08/28
				2006/08/30
				Item 1.01 – Entry into a Material
					Definitive Agreement – Time extension granted and agreement
					with Coast Mountain.

---

SIGNATURES

In
accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned,
thereto duly authorized.

RED
LAKE EXPLORATION, INC.(Registrant)

Date:
September 1, 2006

By:
/s/ John Di Cicco

John
Di CiccoPrincipal Executive OfficerPrincipal Financial
Officer and Director

---

EXHIBIT
31.1CERTIFICATION

I,
John Di Cicco, certify that:

1. I
	have reviewed this Quarterly Report on Form 10-QSB of Red Lake
	Exploration, Inc.
2. Based
	on my knowledge, this report does not contain any untrue statement
	of a material fact or omit to state a material fact necessary to
	make the statements made, in light of the circumstances under which
	such statements were made, not misleading with respect to the
	period covered by this report;
3. Based
	on my knowledge, the financial statements and other financial
	information included in this report, fairly present in all material
	respects the financial condition, results of operations and cash
	flows of the small business issuer as of, and for, the periods
	presented in this report;
4. I
	am responsible for establishing and maintaining disclosure controls
	and procedures (as defined in Exchange Act Rules 13a-15(e) and
	15d-15(e)) and internal control over financial reporting (as
	defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
	small business issuer and I have:

Designed
	such disclosure controls and procedures, or caused such disclosure
	controls and procedures to be designed under my supervision, to
	ensure that material information relating to the small business
	issuer is made known to me, particularly during the period in which
	this quarterly report is being prepared;Designed
	such internal control over financial reporting, or caused such
	internal control over financial reporting to be designed under my
	supervision, to provide reasonable assurance regarding the
	reliability of financial reporting and the preparation of financial
	statements for external purposes in accordance with generally
	accepted accounting principlesEvaluated
	the effectiveness of the small business issuer's disclosure
	controls and procedures and presented in this report our
	conclusions about the effectiveness of the disclosure controls and
	procedures, as of the end of the period covered by this report
	based on such evaluation; andDisclosed
	in this report any change in the small business issuer's internal
	control over financial reporting that occurred during the small
	business issuer's most recent fiscal quarter (the small business
	issuer's second fiscal quarter in the case of this annual report)
	that has materially affected, or is reasonably likely to materially
	affect, the small business issuer's internal control over financial
	reporting; and


1. I
	have disclosed, based on my most recent evaluation of internal
	control over financial reporting, to the small business issuer's
	auditors and the audit committee of the small business issuer's
	board of directors (or persons performing the equivalent function):

All
	significant deficiencies and material weaknesses in the design or
	operation of internal controls over financial reporting which are
	reasonably likely to adversely affect the small business issuer's
	ability to record, process, summarize and report financial
	information; andAny
	fraud, whether or not material, that involves management or other
	employees who have a significant role in the small business issuer's
	internal controls over financial reporting.


By:
 /s/ John Di Cicco

John
Di CiccoPrincipal Executive Officer and Principal Financial
Officer

Date:
September 1, 2006

---

EXHIBIT
32.1

PURSUANT
TO 18 U.S.C. SECTION 1350(SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002)

In
connection with the Quarterly Report of Red Lake Exploration, Inc.
(the “Company”) on Form 10-QSB for the period ending July
31, 2006 as filed with the Securities and Exchange Commission on the
date hereof (the “Report”), I, John Di Cicco, Principal
Executive Officer and Principal Financial Officer of the Company,
certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to §
906 of the Sarbanes-Oxley Act of 2002, that to the best of my
knowledge:

1. The
	Report fully complies with the requirements of Section 13(a) or
	15(d) of the Securities Exchange Act of 1934, as amended; and
2. The
	information contained in the Report fairly presents, in all material
	respects, the financial condition and results of operations of the
	Company.

By:
 /s/ John Di Cicco

John
Di CiccoPrincipal Executive Officer and Principal Financial
Officer

Date:
September 1, 2006