Patriot Gold Corp - Statements of Operations for the three month...

Patriot Gold Corp - Recent Material Event

Item 1. Financial Statements
	Balance Sheets August 31, 2007 (unaudited), and May 31, 2007 (audited)
	Statements of Operations for the three month periods ended August 31, 2007 and 2006, and for the period from inception of the exploration state on June 1, 2000 to August 31, 2007.
	Statements of Cash Flows for the three-month periods ended August 31, 2007 and 2006, and for the period from inception of the exploration state on June 1, 2000 to August 31, 2007.
	Notes to the Financial Statements
		Item 2. Management’s Discussion and Analysis or Plan of Operation
		Item 3 Controls and Procedures
		PART II – Other Information
		Item 1. Legal Proceedings
		Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
		Item 3. Defaults Upon Senior Securities
		Item 4. Submission of Matters to a Vote of Security Holders
		Item 5. Other Information
		Item 6. Exhibits

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

PATRIOT GOLD CORP.

(An Exploration State Company)

BALANCE SHEETS

	(Unaudited)
	August 31,			May 31,

ASSETS:
Current Assets:
Cash	$	2,995,188		$	3,029,331
Prepaid expenses		6,472			1,472

Total Current Assets	$	3,001,660		$	3,030,803

Office Equipment, Net		1,400			1,749
Reclamation Deposit					-

Total Assets	$	3,003,960		$	3,032,552

LIABILITIES & STOCKHOLDERS’ EQUITY:
Current Liabilities:
Accounts Payable	$	6,859		$	2,084



Stockholders' Equity:
Preferred Stock, Par Value $.001
Authorized 20,000,000 shares,
No shares issued at August 31, 2007 and May 31, 2007		-			-
Common Stock, Par Value $.001
Authorized 100,000,000 shares,
Issued 26,224,400 shares at
August 31, 2007 and May 31, 2007		26,224			26,224
Paid-In Capital		26,374,122			26,383,636
Currency Translation Adjustment		(16,361	)		(16,361	)
Deficit Accumulated Since Inception of Exploration State		(23,345,802	)		(23,321,949	)
Retained Deficit		(41,082	)		(41,082	)

Total Stockholders' Equity		2,997,101			3,030,468

Total Liabilities and Stockholders' Equity	$	3,003,960		$	3,032,552

The accompanying notes are an integral part of these financial statements.

PATRIOT GOLD CORP.

(An Exploration State Company)

STATEMENTS OF OPERATIONS

(Unaudited)