CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended		70 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Feb. 29, 2012	Feb. 28, 2011	Feb. 29, 2012
Cash Flows From Operating Activities
Net loss attibutable to common shareholders	$ (5,773,224)	$ (1,726,422)	$ (13,764,220)
Net loss attibutable to noncontrolling interest	(21,500)	0	(21,500)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Depreciation	23,309	9,020	65,431
Impairment - Mineral Properties	1,930,682	0	1,940,453
Impairment - Equipment	300,000	0	300,000
Donated services	0	0	3,000
Interest and financing fees, including discount accretion	844,086	253,177	2,403,360
Common stock issued for services	277,105	25,781	601,897
Stock based compensation	623,260	142,234	2,441,661
Net changes in noncash working capital items:
(Increase) decrease - Prepaid expenses	(137,869)	10,072	(375,638)
Increase (decrease) - Accounts payable	29,778	(3,217)	495,741
Increase (decrease) - Due to/from related parties	(58,032)	82,756	74,580
Net cash flows (used in) operating activities	(1,962,405)	(1,206,599)	(5,835,235)
Cash flows from investing activities
Purchase of equipment	(96,782)	(145,710)	(451,635)
Mineral properties and deposits	(237,532)	(111,035)	(1,192,932)
Net cash flows (used in) investing activities	(334,314)	(256,745)	(1,644,567)
Cash flows from financing activities
Issuance of common shares for cash - private placements	240,000	2,463,750	6,689,700
Exercise of private placement warrants - proceeds	338,749	0	723,249
Exercise of warrant issued in connection with bridge loan	97,500	0	97,500
Exercise of compensation warrants for cash	45,000	0	45,000
Installment loan - proceeds	0	0	41,584
Installment loan - repayments	(11,042)	(10,833)	(41,868)
Bridge loan - related party	0	0	75,000
Convertible notes - related parties	0	0	100,000
Net cash flows provided by financing activities	710,207	2,452,917	7,730,165
Net increase (decrease) in cash	(1,586,513)	989,573	250,363
Cash - beginning of period	1,836,877	325,756	0
Cash - end of period	250,363	1,315,329	250,363
Supplemental disclosures
Interest paid	0	289	517
Taxes paid	0	0	0
Conversion of related party debt to shares and warrants	0	0	127,244
Conversion of related party convertible notes and accrued interest to common shares	0	111,000	111,000
Mineral properties acquired - short-term payments	0	0	1,100,000
Mineral properties acquired - long-term payments, net of discount	0	0	3,576,170
Noncontrolling interest	73,700	0	0
Mineral properties acquired - fair value of common shares issued	1,440,000	0	3,560,000
Convertible notes issued for property and equipment	2,000,000	0	0
Assets acquired for assumed liability	325,205	0	0
Deferred income tax liability	$ 405,000	$ 0	$ 0

Ruby Creek Resources, Inc. 10-Q