v2.4.0.6

STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		34 Months Ended
STATEMENTS OF OPERATIONS (Unaudited) (USD $)	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2012
Revenues	$ 0	$ 0	$ 0
Cost of Revenues	0	0	0
Gross Margin	0	0	0
Expenses
Mineral Property Exploration Expenditures	0	14,214	54,351
General and Administrative	22,385	16,095	140,720
Net Loss from Operations	(22,385)	(30,309)	(195,071)
Other Income (Expense)
Interest	0	0	0
Net Other Income (Expense)	0	0	0
Write-down of Mineral Property Acquisition Payments	(5,000)	(5,000)	(55,000)
Net Loss	$ (27,385)	$ (35,309)	$ (250,071)
Basic and Diluted loss per Share	$ 0.00	$ 0.00
Weighted Average Shares Outstanding	47,820,000	25,940,000

The average number of shares or units issued and outstanding that are used in calculating basic and diluted EPS.

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The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.

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The aggregate cost of goods produced and sold and services rendered during the reporting period.

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The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells.

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The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

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Tundra Gold Corp. 10-Q