v2.4.0.6

CONSOLIDATED BALANCE SHEETS (USD $)	Nov. 30, 2012	Feb. 29, 2012
ASSETS
Cash and cash equivalents	$ 2,157	$ 9,747
TOTAL CURRENT ASSETS	2,157	9,747
Deposit	1,176	1,176
Property and equipment (Note 3)	9,992	15,638
Mineral exploration properties (Note 4)	5,795,000	5,735,000
TOTAL ASSETS	5,808,325	5,761,561
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
Accounts payable and accrued liabilities (Note 5)	957,124	1,015,050
Due to related parties (Note 6)	222,501	77,201
Promissory notes payable and accrued interest (Note 7)	2,523,787	1,882,257
TOTAL LIABILITIES	3,703,412	2,974,508
STOCKHOLDERS' EQUITY
Common stock (Note 8) Authorized 140,625,000 shares of common stock, $0.001 par value Issued and outstanding 24,473,934 common shares (February 29, 2012 - 20,459,375)	24,474	20,459
Additional paid-in-capital	35,423,176	35,226,463
Stock payable		200,728
Deficit accumulated during exploration stage	(33,342,737)	(32,660,597)
TOTAL STOCKHOLDERS' EQUITY	2,104,913	2,787,053
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$ 5,808,325	$ 5,761,561

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Monetary value of common stock allocated to investors to buy shares of a new issue of common stock before they are offered to the public. When stock is sold on a subscription basis, the issuer does not initially receive the total proceeds. In general, the issuer does not issue the shares to the investor until it receives the entire proceeds.

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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

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The carrying amount of the asset transferred to a third party to serve as a deposit, which typically serves as security against failure by the transferor to perform under terms of an agreement.

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Cumulative net losses reported during the development stage.

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Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

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Mineral properties, net of adjustments.

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TRESORO MINING CORP. 10-Q