10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

  X  . ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934

For the fiscal year ended July 31, 2010

 . TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________________________

Commission File Number:   333-145879

SIGA RESOURCES, INC.

(Exact name of registrant as specified in charter)

Nevada	74-3207964
State or other jurisdiction of incorporation or organization	(I.R.S. Employee I.D. No.)

      1002 Ermine Court

      South Lake Tahoe , CA                                                                          96150

       (Address of principal executive offices)                                               (Zip Code)

 Registrant’s telephone number   ( 530) 577-4141

Securities registered pursuant to Section 12(b) of the Act:

Title of each share	Name of each exchange on which registered
None	None

Securities registered pursuant to Section 12 (g) of the Act:

None                        

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined by Rule 405 of the Securities Act   . Yes    X . No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 (d) of the Act.  X  . Yes  . No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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.     X .  Yes   . No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  .  Yes  .  No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy information statements incorporated by reference in Part III of this Form 10-K or any amendments to this Form 10-K   .  

1

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See definition of “large accelerated filer”, “accelerated filer” and “small reporting company” Rule 12b-2 of the Exchange Act.

Large accelerated filer    .                                                                                         Accelerated filer                .  

Non-accelerated filer      . (Do not check if a small reporting company)               Small reporting company      X .  

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

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recent completed second fiscal quarter.

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date:

October 25, 2010: 43,785,000 common shares

DOCUMENTS INCORPORATED BY REFERENCE

Listed hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; (3) Any prospectus filed pursuant to Rule 424 (b) or (c) under the Securities Act of 1933.   The listed documents should be clearly described for identification purposes.  

2

Contents

3

PART 1

ITEM 1.  BUSINESS

History and Organization

Siga Resources, Inc.(“Siga”, the “company” or “we”) was incorporated in the State of Nevada on January 18, 2007, and established a fiscal year end of July 31.  We do not have any subsidiaries, affiliated companies or joint venture partners.

We are a start-up, pre-exploration stage company engaged in the search for gold and related minerals and have not generated any operating revenues since inception.  We have one claim call the Valolo Claim located in Fiji.  On October 14, 2010 we announced an earn-in arrangement on a claim in Hope, British Columbia. We have incurred losses since inception and we must raise additional capital to fund our operations.   There is no assurance we will be able to raise this capital.

There is no assurance that a commercially viable mineral deposit, a reserve, exists at our mineral claim or can be shown to exist until sufficient and appropriate exploration is done and a comprehensive evaluation of such work concludes economic and legal feasibility.   Such work could take many years of exploration and would require expenditure of very substantial amounts of capital, capital we do not currently have and may never be able to raise.

Our initial holding is a 100% interest in the Valolo Gold Claim located in the Republic of Fiji. Siga acquired the Valolo Claim for the sum of $5,000. On October 14, 2010, we entered into an earn-in agreement with Touchstone Ventures Inc., a British Columbia Company, whereby it can earn an 80% interest in Touchstone Ventures Inc.’s wholly owned subsidiary company, Touchstone Precious Metals Inc., a British Columbia Company (“Touchstone”), by investing ten million Canadian dollars (CAD$10,000,000) for acquisition and development costs. The initial investment is for three hundred and five thousand Canadian dollars (CAD$305,000) to determine and expand the known resource  and provide other information requisite to completing the projects’ production design. Our investment is hereinafter referred to as the Lucky Thirteen Claim.

As of the date of this Form 10K, we have not conducted any exploration work on the Valolo Claim.   We do not have funds sufficient to complete only Phase 1 of a two-phase exploration program recommended for the Valolo Claim.  It is our plan to complete Phase I by no later than the late spring of 2011.

We have no full time employees and our management devotes a small percentage of their time to the affairs of our Company.

Our administrative office is located at 1002 Ermine Court, South Lake Tahoe, CA.   Our telephone number is 530 577-4141.

Presently our outstanding share capital is 43,785,000 common shares.   We have no other type of shares either authorized or issued.

Our auditors have expressed substantial doubt about our ability to continue as a going concern in their audit report attached to the financial statements dated July 31, 2010.  We have no cash as at July 31, 2010 and have liabilities of $58,195.  Since our inception we have incurred accumulated losses of $140,544.  We anticipate minimum operating expenses for the next twelve months of $452,970 (refer to page 20).  It is extremely unlikely we will earn any revenue for a minimum of 5 years.  We do not have any employees either full or part time.

Siga is responsible for filing various forms with the United States Securities and Exchange Commission (the “SEC”) such as Form 10-K and Form 10-Qs.

The shareholders may read and copy any material filed by Siga with the SEC at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, DC, 20549.   The shareholders may obtain information on the operations of the Public Reference Room by calling the SEC at 1-800-SEC-0330              1-800-SEC-0330      .   The SEC maintains an Internet site that contains reports, proxy and information statements, and other information which Siga has filed electronically with the SEC by assessing the website using the following address:   http://www.sec.gov .   Siga has no website at this time.

Planned Business

The following discussion should be read in conjunction with the information contained in the financial statements of Siga and the notes, which forms an integral part of the financial statements, which are attached hereto.

The financial statements mentioned above have been prepared in conformity with accounting principles generally accepted in the United States of America and are stated in United States dollars.

4

This Form 10-K also contains forward-looking statements that involve risks and uncertainties.  If any of the events or circumstances described in the following risks actually occurs, our business, financial condition, or results of operations could be materially adversely affected and the price of our common stock could decline on the OTC Bulletin Board (the “OTCBB”).

ITEM 1A. RISK FACTORS

Risks Associated with our Company:

1.   Because our auditors have issued a going concern opinion and because our officers and directors will not loan any money to us, we may not be able to achieve our objectives and may have to suspend or cease exploration activity.

Our auditors' report on our 2010 financial statements expressed an opinion that substantial doubt exists as to whether we can continue as an ongoing business for the next twelve months. Because our officers and directors are unwilling to commit to loan or advance capital to us, we believe that if we do not raise additional capital through the issuance of treasury shares, we will be unable to conduct exploration activity and may have to cease operations and go out of business.

2.   Because the probability of an individual prospect ever having reserves is extremely remote, in all probability our property does not contain any reserves, and any funds spent on exploration will be lost.

Because the probability of an individual prospect ever having reserves is extremely remote, in all probability our property, the Valolo Claim, does not contain any reserves, and any funds spent on exploration will be lost. If we cannot raise further funds as a result, we may have to suspend or cease operations entirely which would result in the loss of our shareholders’ investment. Similarly, our new Lucky Thirteen Claim calls for us to raise $10 million. If we do not raise these funds we will potentially lose our investment in this agreement, furthermore, the underlying claim may not contain any reserves, and any funds spent on exploration will be lost.

3.   We lack an operating history and have losses which we expect to continue into the future. As a result, we may have to suspend or cease exploration activity or cease operations.

We were incorporated in 2007, have not yet conducted any exploration activities and have not generated any revenues. We have an insufficient exploration history upon which to properly evaluate the likelihood of our future success or failure.  Our net loss from inception to July 31, 2010, the date of our most recent audited financial statements, is $140,544. Our ability to achieve and maintain profitability and positive cash flow in the future is dependent upon

*	Our ability to locate a profitable mineral property
*	Our ability to locate an economic ore reserve
*	Our ability to generate revenues
*	Our ability to reduce exploration costs.

Based upon current plans, we expect to incur operating losses in future periods. This will happen because there are expenses associated with the research and exploration of our mineral property. We cannot guarantee we will be successful in generating revenues in the future. Failure to generate revenues will cause us to go out of business.

4.           We have no known ore reserves. Without ore reserves we cannot generate income and if we cannot generate income we will have to cease exploration activity which will result in the loss of our shareholders’ investment.

We have no known ore reserves.   Even if we find gold mineralization   we cannot guarantee that any gold mineralization   will be of sufficient quantity so as to warrant recovery. Additionally, even if we find gold mineralization   in sufficient quantity to warrant recovery, we cannot guarantee that the ore will be recoverable. Finally, even if any gold mineralization   is recoverable, we cannot guarantee that this can be done at a profit. Failure to locate gold deposits in economically recoverable quantities will mean we cannot generate income.  If we cannot generate income we will have to cease exploration activity, which will result in the loss of our shareholders’ investment.

5.   If we don't raise enough money for exploration, we will have to delay exploration or go out of business, which will result in the loss of our shareholders’ investment.

We estimate that, with funding committed by our management combined, we do not have sufficient cash to continue operations for twelve months even if we only carry out Phase I of our planned exploration activity on the Lucky Thirteen Claim.  We are in the pre-exploration stage.  We need to raise additional capital to undertake Phase I.  We may not be able to raise additional funds.  If that occurs we will have to delay exploration or cease our exploration activity and go out of business which will result in the loss of our shareholders’ entire investment in our Company.

5

6.   Because we are small and do not have much capital, we must limit our exploration and as a result may not find an ore body. Without an ore body, we cannot generate revenues and our shareholders will lose their investment.

Any potential development of and production from our exploration property depends upon the results of exploration programs and/or feasibility studies and the recommendations of duly qualified engineers and geologists. Because we are small and do not have much capital, we must limit our exploration activity unless and until we raise additional capital.  Any decision to expand our operations on our exploration property will involve the consideration and evaluation of several significant factors including, but not limited to:

● Costs of bringing the property into production including exploration preparation of production feasibility studies, and construction of production facilities;

● Availability and cost of financing;

● Ongoing costs of production;

● Market prices for the minerals to be produced;

● Environmental compliance regulations and restraints; and

● Political climate and/or governmental regulations and controls.

 Such programs will require very substantial additional funds. Because we may have to limit our exploration, we may not find an ore body, even though our property may contain mineralized material. Without an ore body, we cannot generate revenues and our shareholders will lose their entire investment in our Company.

We may not have access to all of the supplies and materials we need to begin exploration which could cause us to delay or suspend exploration activity.

Competition and unforeseen limited sources of supplies in the industry could result in occasional spot shortages of suppliesand certain equipment such as bulldozers and excavators that we might need to conduct exploration. We have not attempted to locate or negotiate with any suppliers of products, equipment or materials. We will attempt to locate products, equipment and materials as and when we are able to raise the requisite capital.  If we cannot find the products and equipment we need, we will have to suspend our exploration plans until we do find the products and equipment we need.

7.   Because our officers and directors have other outside business activities and may not be in a position to devote a majority of their time to our exploration activity, our exploration activity may be sporadic which may result in periodic interruptions or suspensions of exploration .

Our President will be devoting only 15% of his time, approximately 24 hours per month, to our business.  Our Chief Financial Officer and Secretary-Treasurer will be devoting only approximately 10% of his time, or 16 hours per month to our operations. As a consequence of the limited devotion of time to the affairs of our Company expected from management, our business may suffer.  For example,  because our officers and directors have other outside business activities and may not be in a position to devote a majority of their time to our exploration activity, our exploration activity may be sporadic or may be periodically interrupted or suspended.   Such suspensions or interruptions may cause us to cease operations altogether and go out of business.

 8. Because mineral exploration and development activities are inherently risky, we may be exposed to environmental liabilities. If such an event were to occur it may result in a loss of your investment.

The business of mineral exploration and extraction involves a high degree of risk. Few properties that are explored are ultimately developed into production. At present, the Valolo Claim, does not have a known body of commercial ore. Unusual or unexpected formations, formation pressures, fires, power outages, labor disruptions, flooding, explosions, cave-ins, landslides and the inability to obtain suitable or adequate machinery, equipment or labor are other risks involved in extraction operations and the conduct of exploration programs. We do not carry liability insurance with respect to our mineral exploration operations and we may become subject to liability for damage to life and property, environmental damage, cave-ins or hazards. Previous mining exploration activities may have caused environmental damage to the Valolo Claim. It may be difficult or impossible to assess the extent to which such damage was caused by us or by the activities of previous operators, in which case, any indemnities and exemptions from liability may be ineffective. If the Valolo Claim is found to have commercial quantities of ore, we would be subject to additional risks respecting any development and production activities. Similar risks and uncertainties and the consequent environmental liabilities are associated with our Lucky Thirteen Claim. Most exploration projects do not result in the discovery of commercially mineable deposits of ore.  

6

 9. No matter how much money is spent on our Mineral Claim, the risk is that we might never identify a commercially viable ore reserve.

No matter how much money is spent over the years on the Valolo Claim or the Lucky Thirteen Claim, we might never be able to find a commercially viable ore reserve.  Over the coming years, we could spend a great deal of money on the Valolo Claim and the Lucky Thirteen Claim without finding anything of value.  There is a high probability the Valolo Claim and the Lucky Thirteen Claim do not contain any reserves so any funds spent on exploration will probably be lost.

10.  Even with positive results during exploration, the Mining Claims might never be put into commercial production due to inadequate tonnage, low metal prices or high extraction costs.

We might be successful, during future exploration programs, in identifying a source of minerals of good grade but not in the quantity, the tonnage, required to make commercial production feasible.  If the cost of extracting any minerals that might be found on the Valolo Claim or the Lucky Thirteen Claim is in excess of the selling price of such minerals, we would not be able to develop the Valolo Claim or the Lucky Thirteen Claim.  Accordingly even if ore reserves were found on the Valolo Claim or the Lucky Thirteen Claim, without sufficient tonnage we would still not be able to economically extract the minerals from the Valolo Claim or the Lucky Thirteen Claim in which case we would have to abandon the Valolo Claim and/or the Lucky Thirteen Claim and seek another mineral property to develop, or cease operations altogether.

Risks Associated with owning our Shares:

11. We anticipate the need to sell additional treasury shares in the future meaning that there will be a dilution to our existing shareholders resulting in their percentage ownership in the Company being reduced accordingly.

We expect that the only way we will be able to acquire additional funds is through the sale of our common stock.  This will result in a dilution effect to our shareholders whereby their percentage ownership interest in the Company is reduced.  The magnitude of this dilution effect will be determined by the number of shares we will have to issue in the future to obtain the funds required.

12. Because our securities are subject to penny stock rules, you may have difficulty reselling your shares.

Our shares are "penny stocks" and are covered by Section 15(g) of the Securities Exchange Act of 1934 which imposes additional sales practice requirements on broker/dealers who sell the Company's securities including the delivery of a standardized disclosure document; disclosure and confirmation of quotation prices; disclosure of compensation the broker/dealer receives; and, furnishing monthly account statements. For sales of our securities, the broker/dealer must make a special suitability determination and receive from its customer a written agreement prior to making a sale. The imposition of the foregoing additional sales practices could adversely affect a shareholder's ability to dispose of his stock.

Forward Looking Statements

In addition to the other information contained in this Form 10-K, it contains forward-looking statements which involve risk and uncertainties.  When used in this Form 10-K, the words “may”, “will”, “expect”, “anticipate”, “continue”, “estimate”, “project”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements regarding events, conditions and financial trends that may affect our future plan of operations, business strategy, operating results and financial position.  Readers are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual result could differ materially from the results expressed in or implied by these forward-looking statements as a result of various factors, many of which are beyond our control.  Any reader should review in detail this entire Form 10-K including financial statements, attachments and risk factors before considering an investment.

ITEM 1B.  UNRESOLVED STAFF COMMENTS

There are no unresolved staff comments outstanding at the present time.

ITEM 2. PROPERTIES

Our mineral properties are:

7

Valolo Claim

With funds advanced by one of our directors we identified and acquired a mineral property that we consider holds the potential to contain gold mineralization.  On March 1, 2007 we purchased, for $5,000, the Valolo Gold Claim (hereinafter the “Valolo Claim”) from The Valolo Group, LLC. an independent prospecting company based in Fiji.  The Valolo Claim is situated approximately 9 miles south of the town of Korovou, on the island of Viti Levu, the largest and most populous island in the Republic of Fiji.

In March 2007 we engaged Naresh Bhatt, P. Geol., to conduct a review and analysis of the Valolo Claim and the previous exploration work undertaken on the property and to recommend a mineral exploration program for the Valolo Claim.  Mr. Bhatt’s report titled “Summary of Exploration on the Valolo Property, Korovou, Fiji” dated March 11, 2007 (the “Bhatt Report”) recommends a two-phase exploration program for the Valolo Claim.

We raised $750 in initial seed capital on July 11, 2007 in order to provide some working capital for the Company and we also closed, on July 31, 2007, a private placement pursuant to Regulation S of the Securities Act of 1933, whereby 501,000 common shares were sold at the price of $0.05 per share to raise $25,050.

We intend to undertake exploration work on the Valolo Claim.  We are presently in the pre-exploration stage and there is no assurance that mineralized material with any commercial value exits on our property. We do not have any ore body and have not generated any revenues from our operations.  Our planned exploration work is exploratory in nature.  We are the registered and beneficial owner of a 100% interest in the Valolo Claim located in the Republic of Fiji.

The Valolo Claim covers an area of approximately 72.5 hectares (approximately 179 acres).

Location and Access

The Valolo Claim is located approximately 15 kilometers (9 miles) south of Korovou, Fiji.  The area covered by the Claim is an active mineral exploration and development region with plenty of heavy equipment and operators available for hire.  Korovou provides all necessary amenities and supplies including, fuel, helicopter services, hardware, drilling companies and assay services.  Access to our Claim is via major highway west from Korovou.   No water is required for the purposes of our planned exploration work.  No electrical power is required at this stage of exploration.  Any electrical power that might be required in the foreseeable future could be supplied by gas powered portable generators.

The claim’s terrain is rugged with elevations ranging from of 1,420 feet to 2,650 feet.  Tropical mountain forests grow at lower elevations in the northeast corner of the claim and good rock exposure is found along the peaks and ridges in the eastern portion of the claim. The climate is mild year round with the rainy season falling from May to October.

Property Geology

A belt of volcanic rocks, of the Savura Volcanic Group, underlies the property.  These volcanic rocks are exposed along a wide axial zone of a broad complex.  The presence of these rocks is on our property is relevant to us as gold mineralization, at the nearby (approximately 20 miles to the west of our claim) Nasoata Gold Mine, a past producer of gold in commercial quantities, is generally concentrated within extrusive volcanic rocks (of the Savura Volcanic Group) on the walls of large volcanic caldera.

The main igneous intrusions consist of ‘Medrausucu’  or  theoretic gabbros, tonalities and tondjhemites.

Theoletic Gabbros, for example, are generally are a greenish or dark coloured fine to coarse grained rock. Irregular shaped masses of so called "soda granite" are seen in both sharp and gradational contact with the diorite. The different phases of Medrausucu are exposed from north of the Valolo Gold Claim to just east of the town of Korovou and are principal host rocks for gold veins at the previously active  Nasoata Gold Mine, approximately  20 kilometers away.

On a regional basis the area of Fiji in which the Valolo Claim is located is notable for epi-thermal type gold deposits such as that exploited at the Nasoata Gold Mine. While no mineralization has been reported for the area covered by the Valolo Claim, structures and shear zones affiliated with mineralization on adjacent properties pass through the claim.

Previous Exploration

To our knowledge based on examination by our geologist of available records, no detailed exploration has previously been undertaken on the area covered by the Valolo Claim.

8

However, numerous showings of mineralization have been discovered in the area and several prospects in the area have achieved significant gold production (an aggregate of 1.11 million ounces of gold reported between 1956 and 2002) in the past.  The same rock units, of the Savura Volcanic Group that are found at those mineral occurrences underlie our claim. The Bhatt’ Report has concluded that further exploration of the Valolo Claim is warranted.

No assurance, however, can be given that any mineralization will found on the Valolo Claim.

Proposed Exploration Work – Plan of Operation

The Bhatt’ Report recommends a phased exploration program to properly evaluate the potential of the Valolo Claim.   Mr. Bhatt is a registered member in good standing of the Geological Society of Fiji.  He is a graduate of University of Queensland, Brisbane, Australia with both a Bachelor of Science degree, Geology (1971) and a Master of Science (1975).  Mr. Bhatt has practiced his profession as a geologist for over 33 years.  He visited our claim in March 2007.

We must conduct exploration to determine what minerals exist on our property and whether they can be economically extracted and profitably processed. We plan to proceed with exploration of the Valolo Claim by completing Phase I of the work recommended in the Bhatt Report, in order to begin determining the potential for discovering commercially exploitable deposits of gold on our claim.

We have not discovered any ores or reserves on the Valolo Claim, our sole mineral property. Our planned Phase I work is exploratory in nature.

The Bhatt Report recommends a two-phase exploration program to properly evaluate the potential of the claim.  Phase I work will consist of geological mapping and geophysical surveying.  This will involve, among other things, establishing a grid and the creation of maps showing all features of the terrain of our claim. We will create an actual grid on the ground whereby items can be related one to another more easily and with greater accuracy. When we map, we will actually draw a scale map of the area and make notes on it as to the location where anything (e.g. potential mineralization) was found that was of interest.  In the process we will also identify any showings which appear to warrant sampling, i.e. any rock formations that appear to warrant our taking soil and rock samples from the claims to a laboratory where a determination of the elemental make-up of the sample and the exact concentrations of gold and other indicator minerals can be made. We anticipate, based on the estimate contained in the Bhatt Report, that Phase I work will cost approximately$10,900 (Fiji $17,800).  The Valolo Claim is located in a tropical climatic area so the claim can be worked year round. We anticipate completing Phase I before the end of the late fall of 2010 or early spring of 2011.

Should Phase I results warrant further work, and provided we are able to raise additional funds to undertake additional work on the Valolo Claim, we would undertake the Phase II work recommended in the Bhatt’ Report. The Phase II geochemical and surface sampling work would be designed to compare the relative concentrations of gold and other indicator minerals in samples so the results from different samples can be compared in a more precise manner and plotted on a map to evaluate their significance.

If an apparent mineralized zone(s) is identified and narrowed down to a specific area by the Phase I & II work, we would then consider (again subject to our ability to raise additional funds to do so) the feasibility of   diamond drilling selected targets to test the apparent mineralized zones.  The cost of such a program, assuming it is warranted, cannot be estimated at this time.

The recommended Phase II work is estimated to cost a further $13,860 (Fiji $22,700).  At this point we have funds available to complete Phase I only.  We will have to raise additional capital in order to carry out Phase II, work or any other work beyond Phase I. Particularly since we have a limited operating history, no reserves and no revenue, our ability to raise additional funds might be limited.  If we are unable to raise the necessary funds, we would be required to suspend Siga’s operations and liquidate our company.   See, particularly, ‘Risk Factors beginning on page 5.

There are no permanent facilities, plants, buildings or equipment on the Valolo Claim.

Competitive Factors

The mining industry is highly fragmented. We are competing with many other exploration companies looking for gold. We are among the smallest exploration companies in existence and are an infinitely small participant in the mining business which is the cornerstone of the founding and early stage development of the mining industry. While we generally compete with other exploration companies, there is no competition for the exploration or removal of minerals from our claims. Readily available markets exist for the sale of gold. Therefore, we will likely be able to sell any gold that we are able to recover, in the event commercial quantities are discovered on the Valolo Claims.  There is no ore body on the Valolo Claims.

9

Government Regulation

Exploration activities are subject to various national, state, foreign and local laws and regulations in Fiji, which govern prospecting, development, mining, production, exports, taxes, labor standards, occupational health, waste disposal, protection of the environment, mine safety, hazardous substances and other matters. We believe that we are in compliance in all material respects with applicable mining, health, safety and environmental statutes and the regulations passed there under in Fiji.

Environmental Regulation

Our exploration activities are subject to various federal, state and local laws and regulations governing protection of the environment. These laws are continually changing and, as a general matter, are becoming more restrictive. Our policy is to conduct business in a way that safeguards public health and the environment. We believe that our exploration activities are conducted in material compliance with applicable laws and regulations. Changes to current local, state or federal laws and regulations in the jurisdictions where we operate could require additional capital expenditures and increased operating and/or reclamation costs. Although we are unable to predict what additional legislation, if any, might be proposed or enacted, additional regulatory requirements could render certain exploration activities uneconomic.

Employees

Initially, we intend to use the services of subcontractors for labor exploration work on our claim.  At present, we have no employees as such although each of our officers and directors devotes a portion of their time to the affairs of the Company.  None of our officers and directors has an employment agreement with us. We presently do not have pension, health, annuity, insurance, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any employee.

As indicated above we will hire subcontractors on an as needed basis. We have not entered into negotiations or contracts with any of potential subcontractors.  We do not intend to initiate negotiations or hire anyone until we are nearing the time of commencement of our planned exploration activities.

There are no permanent facilities, plants, buildings or equipment on our mineral claim.

Mineralization

No mineralization has been reported for the area of the property but structures and shear zones affiliated with mineralization on adjacent properties pass through it.

Exploration

Previous exploration work has not included any attempt to drill the structure on Valolo Claim.  Records indicate that no detailed exploration has been completed on the property.

Adjacent Properties

The adjacent properties are cited as examples of the type of deposit that has been discovered in the area and are not major facets to this report.

Recommendations by Mr. Bhatt, Professional Geologist

A two phased exploration program to further delineate the mineralized system currently recognized on Valolo Claim is recommended. The program would consist of air photo interpretation of the structures, geological mapping, both regionally and detailed on the area of the main showings, geophysical survey using both magnetic and electromagnetic instrumentation in detail over the area of the showings and in a regional reconnaissance survey and geochemical soil sample surveying regionally to identify other areas on the claim that are mineralized and in detail on the known areas of mineralization. The effort of this exploration work is to define and enable interpretation of a follow-up diamond drill program, so that the known mineralization and the whole property can be thoroughly evaluated with the most up to date exploration techniques.

The proposed budget for the recommended work in FJD 40,500 (US $24,760) is as follows:

10

Phase I

	Fijian Dollars	U.S. Dollars
1. Geological mapping and Surveying	17,800	$  10,900
Total Phase I	17,800	$    10,900

Phase II

1. Geochemical surveying and surface sampling (includes sample collection and assaying)	22,700	$ 13,860
Total Phase II	22,700	$    13,860

Total Exploration 40,500 $   24,760

We intend to complete Phase I exploration work on the Valolo Claim, our sole property.  No exact date has been determined for the commencement of exploration work on the Valolo Claim.

Particularly since we have a limited operating history, no reserves and no revenue, our ability to raise additional funds might be limited.  If we are unable to raise the necessary funds, we would be required to suspend Siga's operations and liquidate our company.

There are no permanent facilities, plants, buildings or equipment on the Valolo claim.

 Lucky Thirteen Claim

On September 24, 2010, the Company has entered into an earn-in agreement with Touchstone Ventures Inc., a British Columbia Company, whereby it can earn an 80% interest in Touchstone Ventures Inc.’s wholly owned subsidiary company, Touchstone Precious Metals Inc., a British Columbia Company (“Touchstone”), by investing ten million Canadian dollars (CAD$10,000,000) for acquisition and development costs. The initial investment is for three hundred and five thousand Canadian dollars (CAD$305,000) to determine and confirm the resource and develop other information requisite to completing the projects’ production design.

We will earn 20% of the outstanding capital of TPM upon our subsequent advance of CAD$200,000 to TPM; additional 20% will be earned upon receipt of mining certificate by TPM and advances of a further $4,350,000 to TPM; and an additional 40% upon advances of a further $5,145,000 to TPM. The overriding royalties on the Luck 13 Claim are 3% net smelter. Prior to payment of $1.5 million by TPM to the $1.5 million owed to Peter Osha, the royalty rates are Floating Rate Royalties determined by the price of gold such that when gold is at $500/oz.  the royalty rate is 5%; $750/oz. – 7.5%; and $1,000/oz – 10%.  

The Claim is located in the New Westminster Mining Division, British Columbia, Map Number 092H:

Claim Name	Area Tenure	Type	Tenure Number	Expiry Date
Lucky Thirteen	168.157 ha	Placer	523082	December 1, 2010

The Placer Claim is owned 100% by Mr. Peter Osha (B.C. Free Miner #120343) and the Claim is in Good Standing. 

Location and Access

The Lucky Thirteen Claim is located approximately 5 kilometers (3 miles) north of Hope British Columbia.  The area where the claim is located is an active mineral exploration and development region with heavy equipment and operators available for hire.  Hope provides all necessary amenities and supplies including, fuel, hardware, drilling companies and assay services.  Access to our Claim is via Trans Canada north from Hope.   Any electrical power that might be required in the foreseeable future could be supplied by BC Hydro grid.

The placer gravel bar that the claim covers is accessible by an existing logging road. The climate is mild year round with the rainy season falling from October to May.

11

Property Geology

The Lucky Thirteen claim is covered by Tertiary Gravels forming a stratified sequence of cobble and pebble gravels, sands and silts. The total thickness is unknown at this time.

Previous Exploration

The Lucky Thirteen has a history of exploration and minor production attempts going back to the mid 1850s.  Most of this work was poorly documented until the past 3 decades and concentrated generally on free gold.  A series of tests and assays by several operators including the current owner, from various areas and depths have established that the gravels are auriferous, and that the black sand concentrates contain gold and platinum group minerals that may be present in economic amounts.

Proposed Exploration Work – Plan of Operation

The current plan of operations is to grid sample areas of the property by trenching and/or drilling. The material recovered and sampled will be run through an on-site washing and recovery plant. Samples taken representatively will be assayed by qualified assay laboratories, with the information derived used to recommend specific mining areas, design the mining plan itself and determine most efficient recovery methods to be applied to the concentrates derived from the process.

The seismic survey; trenching and  sample program; screen analysis; and assays; is designed to investigate  depth to bedrock, sand and gravel strata, previous workings, and placer mineral continuity. All work will be conducted by local qualified independent professional engineers, mine operators, accountants and administrators.

Phase I Work Program Estimate

Placer Mineral Tenure #52082	Option Deposit	$               50,000
Placer Mineral Tenure # 523082	Claim to Lease	5,000
Seismic Survey	Frontier GeoScience Ltd.- Russell Hillman P.Eng	33,380
Road Upgrade to CPR Track	Triple O Contracting	10,000
CPR Track Crossing	Triple O Contracting-CPR	10,000
Bonding & Insurance		10,000
Survey-12 Trenches (40' ea) 10' sample increments = 48 samples	Triple O	36,000
48 Samples Processed	Triple O Contracting	36,000
48 Assays		10,000
Pit Design	P.Eng (Mining)	5,000
Process Design	P.Eng (Metallurgical)	5,000
Contingency Reserve		94620
Development Budget Total		$             305,000

The Operational Budget reflects the current estimated Property Acquisition and Capital and Operating Costs to place the property into production at the earliest possible date. The operational budget detail may be modified as a result of the current recommended work program, however, no increase in estimated costs are anticipated.

Property Acquisition Budget Estimate

Property Acquisition	$     5,145,000
Operational Budget Estimate
Road	$305,000
Operating Equipment & Buildings	3,477,126
Working Capital	517,290
Professional Fees	225,584
Operational Budget	4,555,000
Total Required Capital	$   10,000,000

12

Bulk testing schedule

The following is an estimate to conduct a bulk sampling program on the Lucky Thirteen Property.

·

The test program to consist of a series trenches to a maximum depth of 40 foot minimum.

·

A bulk sample to be taken every 10 feet vertically

·

All trenches will be backfilled upon completion of test.

·

A screening plant will be set up near the excavation.

The overburden will be removed and placed elsewhere on the claim. All gravel material excavated from the trench will be screened to different size fractions. The gravel on each screen will be weighed and the information recorded. The concentrate will be captured, weighed and processed for minerals. In Phase I the gold content of the concentrates will be recovered by a gravity method. The remaining concentrates will be stored and retained for further analysis for other precious metals and by-products in Phase II of the Work Program.

Between each test the screening plant will be washed down and cleaned up before the next test is carried out. The screening plant is then moved forward and the process is repeated. The excavators will then backfill the finished trench doing the reclamation on a continuous basis.

Competitive Factors

The mining industry is highly fragmented. We are competing with many other exploration companies looking for gold. We are among the smallest exploration companies in existence and are an infinitely small participant in the mining business which is the cornerstone of the founding and early stage development of the mining industry. While we generally compete with other exploration companies, there is no competition for the exploration or removal of minerals from our claims. Readily available markets exist for the sale of gold. Therefore, we will likely be able to sell any gold that we are able to recover, in the event commercial quantities are discovered on the Lucky Thirteen Claim.

Government Regulation

Exploration activities are subject to various national, provincial, foreign and local laws and regulations in British Columbia and Canada, which govern prospecting, development, mining, production, exports, taxes, labor standards, occupational health, waste disposal, protection of the environment, mine safety, hazardous substances and other matters. We believe that we are in compliance in all material respects with applicable mining, health, safety and environmental statutes and the regulations passed there under in British Columbia and Canada.

Environmental Regulation

Our exploration activities are subject to various federal, provincial and local laws and regulations governing protection of the environment. These laws are continually changing and, as a general matter, are becoming more restrictive. Our policy is to conduct business in a way that safeguards public health and the environment. We believe that our exploration activities are conducted in material compliance with applicable laws and regulations. Changes to current local, state or federal laws and regulations in the jurisdictions where we operate could require additional capital expenditures and increased operating and/or reclamation costs. Although we are unable to predict what additional legislation, if any, might be proposed or enacted, additional regulatory requirements could render certain exploration activities uneconomic.

Employees

Initially, we intend to use the services of subcontractors for labor exploration work on our claim.  At present, we have no employees as such although each of our officers and directors devotes a portion of their time to the affairs of the Company.  None of our officers and directors has an employment agreement with us. We presently do not have pension, health, annuity, insurance, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any employee.

As indicated above we will hire subcontractors on an as needed basis. We have not entered into negotiations or contracts with any of potential subcontractors.  We do not intend to initiate negotiations or hire anyone until we are nearing the time of commencement of our planned exploration activities.

There are no permanent facilities, plants, buildings or equipment on our mineral claim.

13

Mineralization

The mineralization contained within the Lucky Thirteen is placer gold and heavy black sands derived from the erosion and subsequent re-deposition over many millennia, of material derived from the current and historic highlands above the Fraser River Drainage. The placer deposits were formed at the point where the erosional processes, (generally water borne but sometimes wind and mass wasting) lost the energy necessary to continue to carry the material further down stream in the drainage system.  The Fraser River has also caused continuing material movement in its annual cycles of varying flows.

Exploration

Exploration has been known in the area since the mid 1850s, but generally has not been via modern methods of mining, washing and concentration.  The current work plan is the first known that will combine current state of the art extraction and processing methods to the auriferous gravels in the Lucky Thirteen area.

Adjacent Properties

There are possible expansions to the project properties in the general area but there is no current intent to add acreage to the project until the deposit is better evaluated.

Recommendations

by T.L. Sadlier-Browm, Professional Geologist

Investment Policies

Siga does not have an investment policy at this time.  Any excess funds it has on hand will be deposited in interest bearing notes such as term deposits or short term money instruments. There are no restrictions on what the directors are able to invest.  Presently Siga does not have any cash.

ITEM 3.    LEGAL PROCEEDINGS

There are no legal proceedings to which Siga is a party or to which the Valolo Claim or the Lucky Thirteen is subject, nor to the best of management’s knowledge are any material legal proceedings contemplated.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

There has been no Annual General Meeting of Stockholders since Siga’s date of inception.  Management hopes to hold an Annual General Meeting of Stockholders during 2011.

14

PART II

ITEM 5 MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED    STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES

Since inception, Siga has not paid any dividends on its common stock, and Siga does not anticipate that it will pay dividends in the foreseeable future.  As at July 31, 2010, Siga had 37 shareholders; two of these shareholders are an officer and director of Siga.

Option Grants and Warrants outstanding since Inception.

No stock options have been granted since Siga’s inception.

There are no outstanding warrants or conversion privileges for Siga’s shares.

ITEM 6.                      SELECTED FINANCIAL INFORMATION

The following summary financial data was derived from our financial statements.   This information is only a summary and does not provide all the information contained in our financial statements and related notes thereto.  You should read the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes included elsewhere in this Form 10-K.

Operation Statement Data

				Jan. 18, 2007
				(date of
		For the year		inception)
		ended		to
		July 31, 2010		July 31, 2010
Impairment of mineral claim acquisition	$	-	$	5000
General and Administrative		24,511		135,544
Net loss from operations	$	24,511	$	140,544
Weighted average shares outstanding
(basic and fully diluted)		43,785,000
Net loss per share
(basic and fully diluted)	$	-

Balance Sheet Data

Cash and cash equivalent	$	-
Total assets	$	-
Total liabilities	$	58,195
Total Shareholders' deficiency	$	(58,195)

Our historical results do not necessary indicate results expected for any future periods.

15

ITEM 7.      MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

Corporate Organization and History within the Last Three years

Siga was incorporated under the laws of the State of Nevada on January 18, 2007 under the name Siga Resources Inc.  Siga does not have any subsidiaries, affiliated companies or joint venture partners.

We have not been involved in any bankruptcy, receivership or similar proceedings since inception nor have we been party to a reclassification, merger, consolidation, or purchase or sale of a significant amount of assets not in the ordinary course of business.    We have no intention of entering into a merger or acquisition.

Business Development since Inception

There is no historical financial information about us upon which to base an evaluation of our performance as an exploration corporation. We are a pre-exploration stage company and have not generated any revenues from our exploration activities. Further, we have not generated any revenues since our formation on January 18, 2007.  We cannot guarantee we will be successful in our exploration activities. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties, and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we must invest in the exploration of the Valolo Claim and/or the Lucky Thirteen Claim  before we can start production of any minerals we may find. We must obtain equity or debt financing to provide the capital required to fully implement our phased exploration program.   We have no assurance that financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we will be unable to commence, continue, develop or expand our exploration activities. Even if available, equity financing could result in additional dilution to existing shareholders.

Our auditors have issued a going concern opinion. This means that our auditors believe there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated until we begin removing and selling minerals. Accordingly, we must raise cash from sources other than the sale of minerals found on the Valolo Claim an/or Lucky Thirteen Claim. That cash must be raised from other sources. Our only other source for cash at this time is investments by others in the Company.  We must raise cash to implement our planned exploration program and stay in business.

To meet our need for cash we must raise additional capital.  We will attempt to raise additional money through a private placement, public offering or through loans.  We have discussed this matter with our officers and directors. However, our officers and directors are unwilling to make any commitments to loan us any money at this time. At the present time, we have not made any arrangements to raise additional cash.  We require additional cash to continue operations.  Such operations could take many years of exploration and would require expenditure of very substantial amounts of money, money we do not presently have and may never be able to raise.   If we cannot raise it we will have to abandon our planned exploration activities and go out of business.

We estimate we will require $45,018 in cash over the next twelve months, including the cost of planned Phase I exploration work for the Valolo claim during that period.  We also anticipate that we will have to spend at least CAD$305,000 on the Lucky Thirteen claim. We have no cash at the present time.  For a detailed breakdown refer to “Liquidity and Capital Reserves”.

We have no plant or significant equipment to sell, nor are we going to buy any plant or significant equipment during the next twelve months. We will not buy any equipment until we have located a body of ore and we have determined it is economical to extract the ore from the land.

We may attempt to interest other companies to undertake exploration work on the Valolo Claim and/or the Lucky Thirteen Claim through joint venture arrangement or even the sale of part of the Valolo Claim or the Lucky Thirteen Claim.  Neither of these avenues has been pursued as of the date of this Form 10-K.

Since we do not presently have the requisite funds, we may not be able to do the work under Phase I of the recommended exploration program of the Valolo Claim or the initial phase of the Lucky Thirteen Claim.  We might have to consider a joint venture partner.  If we cannot find a joint venture partner and do not raise more money, we will be unable to complete any work. If we are unable to finance additional exploration activities, we do not know what we will do and we do not have any plans to do anything else.  We may have no alternative but to go out of business.

16

We do not intend to hire any employees at this time. All of the work on the Valolo Claim and the Lucky Thirteen Claim will be conducted by unaffiliated independent contractors that we will hire. The independent contractors will be responsible for surveying, geology, engineering, exploration, and excavation. The geologists will evaluate the information derived from the exploration and excavation and the engineers will advise us on the economic feasibility of removing the mineralized material.

Trends

We are in the pre-explorations stage, have not generated any revenue and have no prospects of generating any revenue in the foreseeable future.  We are unaware of any known trends, events or  uncertainties that have had, or are reasonably likely to have, a material impact on our business or income, either in the long term of short term, other than as described  in this section or in ‘Risk Factors’ on page 5.

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations, including the discussion on liquidity and capital resources, are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, management re-evaluates its estimates and judgments.

The going concern basis of presentation assumes we will continue in operation throughout the next fiscal year and into the foreseeable future and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. Certain conditions, discussed below, currently exist which raise substantial doubt upon the validity of this assumption. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Liquidity and Capital Resources

As of July 31, 2010 our total assets were nil and our total liabilities were $58,195.

Including the cost of completing the exploration phase of our Lucky Thirteen Claim and the Valolo Claim, our non-elective expenses over the next twelve months, are expected to be as follows:

(i)           Accounting and audit

We will have to continue to prepare consolidated financial statements for submission with the various 10-K and 10-Q as follows:

Period	Form	Accountant	Auditor	Amount
October 31, 2010	10-Q	9,000	1,000	10,000
January 31, 2011	10-Q	9,000	1,000	10,000
April 30, 2011	10-Q	9,000	1,000	10,000
July 31, 2011	10-K	9,000	10,000	19,000
Estimated total		$   36,000	$   4,000	$    49,000

17

(ii)           Edgar filing fees

We will be required to file the annual Form 10-K estimated at $250 and the three Form 10-Qs at $250 each for a total cost of $1,000. Additional Form 8-K should cost an additional $1,000.

(iii)           Exploration costs

The projection of cash required over the next twelve months has assumed that the recommended work program will be completed at an estimated cost of $10,900. The Lucky Thirteen Claim has an initial budget of $305.000.

Development Budget
Time to Complete 90 days	Purpose
Placer Mineral Tenure #52082	Option Deposit	$            50,000
Placer Mineral Tenure # 523082	Claim to Lease	5,000
Seismic Survey	Frontier GeoScience Ltd.- Russell Hillman P.Eng	33,380
Road Upgrade to CPR Track	Triple O Contracting	10,000
CPR Track Crossing	Triple O Contracting-CPR	10,000
Bonding & Insurance		10,000
Survey-12 Trenches (40' ea) 10' sample increments = 48 samples	Triple O	36,000
48 Samples Processed	Triple O Contracting	36,000
48 Assays		10,000
Pit Design	P.Eng (Mining)	5,000
Process Design	P.Eng (Metallurgical)	5,000
Contingency Reserve		94620
Development Budget Total		$           305,000

(iv)

Filing fees in Nevada

To maintain the Company in good standing in the State of Nevada an annual fee of approximately $375 has been paid to the Secretary of State.

(v)           Office and general

We have estimated a cost of approximately $20,000 for photocopying, printing, fax and delivery, travel, and entertainment.

(vi)           Transfer agent

The annual fee from Holladay Stock Transfer to act as transfer agent for us is $5, 000.

Our future operations are dependent upon our ability to obtain third party financing in the form of debt and equity and ultimately to generate future profitable operations or income from investments. As of July 31, 2010, we have not generated revenues, and have experienced negative cash flow from operations. We may look to secure additional funds through future debt or equity financings. Such financings may not be available or may not be available on reasonable terms.

18

Twelve months ended July 31, 2010 and 2009 and for the Period from January 18, 2007 (date of inception) to July 31, 2010.

We incurred accumulated net losses since inception of $140,544 as detailed in the following table:

							From
			Twelve		Twelve		inception
			Months		Months		January
			Ended		Ended		18, 2007 to
Expense	Ref.		July 31, 2010		July 31, 2009		July 31, 2010
Accounting and audit	(i)	$	10,500	$	15,546	$	38,596
Bank charges			-		45		364
Consulting			-		-		17,000
Exploration costs			-		-		5,000
Filing fees			-		-		1,695
Incorporation costs			-		-		720
Legal			-		-		9,818
Management fees	(ii)		9,000		12,000		39,000
Office	(iii)		145		219		2,080
Rent	(iv)		2,700		3,600		11,700
Telephone	(v)		1,350		1,800		5,850
Transfer agent fees	(vi)		816		2,690		5,823
Edgarizing	(vii)		-		250		2,898
Total		$	24,511	$	36,150	$	140,544

(i)           Audit and Accounting

Auditing and accounting expense represents the cost of the preparation of the financial statements for the year ended July 31, 2009, as well as for the preparation and review of the financial statements for the three months ended October 31, 2009, the six months ended January 31, 2010,  and the nine months ended April 30, 2010.

(ii)           Management fees

The Company did not pay management fees but realizes there is a cost associated with the directors managing the operations of our Company. 

(iii)           Office

Office expenses during the year were mainly for courier, postage, office supplies, etc. in the amount of $145.

(iv)           Rent

We accrued rent similar to management fees with an offsetting entry to Capital in Excess of Par Value totalling $2,700.   

 (v)           Telephone

Similar to management fees and rent noted above, we have accrued telephone expense totalling $1,350 with an offsetting entry to Capital in Excess of Par Value.

(vi)           Transfer agent fees

The Company uses the services of Holladay Stock Transfer as its transfer agent.   During the fiscal year ended July 31, 2010 the company paid fees of $816.

(vii)           Edgarizing

There were no Edgarizing expenses during the year.

19

Balance Sheets

Total cash and cash equivalents, as of July 31, 2010 and July 31, 2009, were both $nil.  Our working capital as at July 31, 2010 and July 31, 2009 were a negative amount of $58,195 and a negative amount of $46,734 respectively.

Total shareholders’ deficiency as of July 31, 2010 was $58,195 and $46,734 as at July 31, 2009. Total shares outstanding as at July 31, 2010 were 43,785,000.

ITEM 7A.       QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET   RISK

Market Information

There are no common shares subject to outstanding options, warrants or securities convertible into common equity of our Company.

The number of shares subject to Rule 144 is 23, 625,000

Presently, there are no shares being offered to the public and no shares have been offered pursuant to an employee benefit plan or dividend reinvestment plan.

Our shares are traded on the OTCBB.  Although the OTCBB does not have any listing requirements per se, to be eligible for quotation on the OTCBB, we must remain current in our filings with the SEC; being as a minimum Forms 10-Q and 10-K.  Securities already quoted on the OTCBB that become delinquent in their required filings will be removed following a 30 or 60 day grace period if they do not make their filing during that time.

In the future our common stock trading price might be volatile with wide fluctuations.  Things that could cause wide fluctuations in our trading price of our stock could be due to one of the following or a combination of several of them:

● our variations in our operations results, either quarterly or annually;

● trading patterns and share prices in other exploration companies which our shareholders consider similar to ours;

● the exploration results on the Valolo Claim and the Lucky Thirteen Claim, and

● other events which we have no control over.

In addition, the stock market in general, and the market prices for thinly traded companies in particular, have experienced extreme volatility that often has been unrelated to the operating performance of such companies.  These wide fluctuations may adversely affect the trading price of our shares regardless of our future performance.  In the past, following periods of volatility in the market price of a security, securities class action litigation has often been instituted against such company.  Such litigation, if instituted, whether successful or not, could result in substantial costs and a diversion of management’s attention and resources, which would have a material adverse effect on our business, results of operations and financial conditions.

ITEM 8.    FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The financial statements attached to this Form 10-K for the year ended July 31, 2010 have been examined by our independent accountants, Madsen & Associates CPA’s Inc. and attached hereto.

ITEM 9.   CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

During the year ended July 31, 2010, to the best of our knowledge, there have been no disagreements with Madsen & Associates CPA’s Inc. on any matters of accounting principles or practices, financial statement disclosure, or audit scope procedures, which disagreement if not resolved to the satisfaction of Madsen & Associates CPA’s Inc. would have caused them to make a reference in connection with its report on the financial statements for the year.

ITEM 9A – CONTROLS AND PROCEDURES

Our management, on behalf of the Company, has considered certain internal control procedures as required by the Sarbanes-Oxley (“SOX”) Section 404 A which accomplishes the following:

20

Internal controls are mechanisms to ensure objectives are achieved and are under the supervision of the Company’s Chief Executive Officer, being Arun Kumar, and Chief Financial Officer, being Rohit Singh. Good controls encourage efficiency, compliance with laws and regulations, sound information, and seek to eliminate fraud and abuse.

These control procedures provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with U.S. generally accepted accounting principles.

Internal control is "everything that helps one achieve one's goals - or better still, to deal with the risks that stop one from achieving one's goals."

Internal controls are mechanisms that are there to help the Company manage risks to success.

Internal controls is about getting things done (performance) but also about ensuring that they are done properly (integrity) and that this can be demonstrated and reviewed (transparency and accountability).

In other words, control activities are the policies and procedures that help ensure the Company’s management directives are carried out. They help ensure that necessary actions are taken to address risks to achievement of the Company’s objectives. Control activities occur throughout the Company, at all levels and in all functions. They include a range of activities as diverse as approvals, authorizations, verifications, reconciliations, reviews of operating performance, security of assets and segregation of duties.

As of July 31, 2010, the management of the Company assessed the effectiveness of the Company’s internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and SEC guidance on conducting such assessments.  Management concluded, during the year ended July 31, 2010, internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules.  Management realized there are deficiencies in the design or operation of the Company’s internal control that adversely affected the Company’s internal controls which management considers to be material weaknesses.

In the light of management’s review of internal control procedures as they relate to COSO and the SEC the following were identified:

●              The Company’s Audit Committee does not function as an Audit Committee should since there is a lack of independent directors on the Committee and the Board of Directors has not identified an “expert”, one who is knowledgeable about reporting and financial statements requirements, to serve on the Audit Committee.

●              The Company has limited segregation of duties which is not consistent with good internal control procedures.

●              The Company does not have a written internal control procedurals manual which outlines the duties and reporting requirements of the Directors and any staff to be hired in the future.  This lack of a written internal control procedurals manual does not meet the requirements of the SEC or good internal control.

●              There are no effective controls instituted over financial disclosure and the reporting processes.

Management feels the weaknesses identified above, being the latter three, have not had any effect on the financial results of the Company. Management will have to address the lack of independent members on the Audit Committee and identify an “expert” for the Committee to advise other members as to correct accounting and reporting procedures.

The Company and its management will endeavor to correct the above noted weaknesses in internal control once it has adequate funds to do so.   By appointing independent members to the Audit Committee and using the services of an expert on the Committee will greatly improve the overall performance of the Audit Committee.   With the addition of other Board Members and staff the segregation of duties issue will be address and will no longer be a concern to management.  By having a written policy manual outlining the duties of each of the officers and staff of the Company will facilitate better internal control procedures.

Management will continue to monitor and evaluate the effectiveness of the Company’s internal controls and procedures and its internal controls over financial reporting on an ongoing basis and are committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow.

ITEM 9A (T) – CONTROLS AND PROCEDURES

There were no changes in the Company’s internal controls or in other factors that could affect its disclosure controls and procedures subsequent to the Evaluation Date, nor any deficiencies or material weaknesses in such disclosure controls and procedures requiring corrective actions.

21

ITEM 9 B – OTHER INFORMATION

There are no matters required to be reported upon under this Item.

PART 111

ITEM 10.   DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Each of our Directors serves until his successor is elected and qualified. Each of our officers is elected by the Board of Directors to a term of one (1) year and serves until his successor is duly elected and qualified, or until he is removed from office. The Board of Directors has no nominating or compensation committees.

The name, address, age and position of our officers and directors is set forth below:

Name and Address	Position(s )	Age
Edwin G. Morrow 1002 Ermine Court, South Lake Tahoe, CA 96150	Chief Executive Officer, President and Director (1)	65
Robert Malasek Alpenstr. 34a, 82393 IffeldorfGermany	Chief Financial Officer, Chief Accounting Officer, Secretary-Treasurer  and Director (2)	42

(1)	Edwin G Morrow was appointed a director on September 14, 2010, President and the Chief Executive Officer on the same day.
(2)	Robert Malasek became a director on September 28, 2010 and was appointed Secretary Treasurer, Chief Financial Officer and Chief Accounting Officer on the same day.

The percentage of common shares beneficially owned, directly or indirectly, or over which control or direction are exercised by the directors and officers of our Company, collectively, is nil.

Background of officers and directors

EDWIN MORROW has been the President and Director of the Company since September 14, 2010. 

Mr. Morrow  holds a Bachelor of Science in Geology from Mackay School of Mines, University of Nevada, Reno, with post graduate study in finance and mineral economics.

A  registered Professional Geologist, Mr. Morrow is a member of the Society for Mineral Exploration , has served on the Boards of Directors of several Associations and companies and as an Council Member of the Mineral Industry Advisory Board, University of Nevada, Mackay School of Mines.

Mr. Morrow has worked as an employee or consultant for over 35 years in exploration, development and production in the natural resources area, in multiple commodities. He has held line and executive positions with in the mining and minerals industry with Sonoma Quicksilver, Utah International Inc, InterPace Corporation, Federal Bentonite Corporation, Homestake Mining Company, and Zaruma Resources Inc. (Laminco Resources Inc.). As part of his consulting practice, Mr. Morrow has over 10 years experience in real estate management, including planning, entitlement, permitting, engineering and construction management.

ROBERT MALASEK has been a director and Secretary Treasurer of the Company since Sept 28, 2010. Mr. Malasek currently   serves as a consultant to a variety of clients, including a number of public companies.  He also is serving as the Chief Financial Officer for Naturewell, Inc. to which he was appointed on August 15, 2006. Mr. Malasek had previously served as Controller for NatureWell, Inc.  From 1987 until August 1999 Robert was employed with Starwood Hotel & Resorts Worldwide, Inc. in a number of positions within the accounting department and became Assistant Controller in 1998 until his departure in 1999. Mr. Malasek received his Bachelor of Science in Accountancy from San Diego State University, California in 1998.

None of our officers and directors work full time for our company.  Mr. Morrow spends approximately 40 hours a month on administrative and mining matters.  Mr. Morrow’s time on Company affairs is expected to continue at this pace for the foreseeable future. As Secretary Treasurer, Robert Malasek spends approximately 40 hours per month on corporate matters.

None of our directors is an officer or director of a company registered under the Securities and Exchange Act of 1934.

22

 Board of Directors

Below is a description of the Audit Committee of the Board of Directors.  The Charter of the Audit Committee of the Board of Directors sets forth the responsibilities of the Audit Committee. The primary function of the Audit Committee is to oversee and monitor the Company’s accounting and reporting processes and the audits of the Company’s financial statements.

Our audit committee is comprised of Edwin Morrow, our President and Chairman of the Audit Committee, and Robert Malasek our Chief Financial Officer and Secretary Treasurer neither of whom are independent.   Mr. Morrow cannot be considered an “audit committee financial expert” as defined in Item 401 of Regulation S-B.  Mr. Malasek meet these qualifications.

Apart from the Audit Committee, the Company has no other Board committees.

Since inception on January 18, 2007, our Board has conducted its business entirely by consent resolutions and has not met, as such.

Significant Employees

We have not paid employees as such.  Our Officers and Directors fulfill many of the functions that would otherwise require Siga to hire employees or outside consultants.

We will have to engage the services of certain consultants to assist in the exploration of our previous mineral claims and to prepare a report on the Valolo Claim and Lucky Thirteen Claim.  Such consultant will responsible for hiring and supervising, the exploration work on the Company’s claims in the near future.  This individual will be responsible for the completion of the geological work and, therefore, will be an integral part of our operations although he or she will not be considered an employee either on a full time or part time basis.  This is because our exploration programs will not last more than a few weeks and once completed this individual will no longer be required.  We have not identified any individual who would work as a consultant for us.

Family Relationships

Our President and CEO and our Secretary Treasurer and CFO are unrelated.

Involvement in Certain Legal Proceedings

To the knowledge of the Company, during the past five years, none of our directors or executive officers:

(1) has filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by the court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filings;

(2) was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

(3) was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting, the following activities:

(i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliate person, director or employee of any investment company, or engaging in or continuing any conduct or practice in connection with such activity;

(ii)  engaging in any type of business practice; or

(iii) engaging in any activities in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws;

(4) was the subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activities;

(5) was found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, and the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated.

23

(6) was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated.

ITEM 11.      EXECUTIVE COMPENSATION

Compensation to our directors and officers was paid as follows:

Summary Compensation Table

					Long Term Compensation
		Annual Compensation					Awards		Payouts
(a)	(b)		(c)	(e)		(f)		(g)		(h)	(i)
Name and Principal   position	Year		Salary	Other annual Comp. ($)		Restricted stock awards ($)		Options/ SAR (#)		LTIP payouts ($)	All other compen sation ($)
Arun Kumar President, CEO and Director	2008 2009 2010		-0- -0- -0-	-0- -0- -0-		-0- -0- -0-		-0- -0- -0-		-0- -0- -0-	-0- -0- -0-
Rohit Singh Secretary Treasurer, CFO and Director	2008 2009 2010		-0- -0- -0-	-0- -0- -0-		-0- -0- -0-		-0- -0- -0-		-0- -0- -0-	-0- -0- -0-

Edwin G. Morrow President, CEO and Director	2008 2009 2010	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-
Robert Malasek Secretary Treasurer, CFO and Director	2008 2009 2010	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-	-0- -0- -0-

Compensation of Directors

We have no standard arrangement to compensate directors for their services in their capacity as directors.  Directors are not paid for meetings attended.   All travel and lodging expenses associated with corporate matters are reimbursed by us, if and when incurred.

Employment Agreements with Executive Officers and Directors

There are no employment agreements with any officers or directors.

Stock Option Plan

We have never established any form of stock option plan for the benefit of our directors, officers or future employees.  We do not have a long-term incentive plan nor do we have a defined benefit, pension plan, profit sharing or other retirement plan.

Bonuses and Deferred Compensation

None

Compensation Pursuant to Plans

None

24

Pension Table

None

Termination of Employment

There are no compensatory plans or arrangements, including payments to be received from Siga, with respect to any person named in Summary of Compensation set out above which would in any way result in payments to any such person because of his resignation, retirement, or other termination of such person’s employment with Siga, or any change in control of Siga, or a change in the person’s responsibilities following a change in control of Siga.

Compliance with Section 16 (a) of the Exchange Act

Siga knows of no director, officer, beneficial owner of more than ten percent of any class of equity securities of Siga’s registered pursuant to Section 12 (“Reporting Person”) that failed to file any reports required to be furnished pursuant to Section 16(a).  Neither Mr. Kumar and Mr. Singh have personally filed any reports with the Section.

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth, as at November 10, 2010, the total number of shares owned beneficially by each of our directors, officers and key employees, individually and as a group, and the present owners of 5% or more of our total outstanding shares. The shareholders listed below have direct ownership of his shares and possesses sole voting and dispositive power with respect to the shares.

Title or Class	Name and Address of Beneficial Owner (1)	Amount of Beneficial    Ownership (2)	Percent of Class
Common Stock	Arun Kumar #8 Nairal Rd., Raiwai,Suva, Fiji	17,500,000	39.97%
Common Stock	Rohit Singh Narata, Nausori, GPO, Box 1004, Suva, Fiji	8,750,000	19.98%
Common Stock	Greater than 5% shareholders as a Group(2 persons)	26,250,000	59.95%

(1) Unless otherwise noted, the security ownership disclosed in this table is of record and beneficial.

(2) Under Rule 13-d of the Exchange Act, shares not outstanding but subject to options, warrants, rights, conversion privileges pursuant to which such shares may be acquired in the next 60 days are deemed to be outstanding for the purpose of computing the percentage of outstanding shares owned by the person having such rights, but are not deemed outstanding for the purpose of computing the percentage for such other persons.  None of our officers or directors has options, warrants, rights or conversion privileges outstanding.

We do not know of any other shareholder who has more than 5 percent of the issued shares.

The number of shares under Rule 144 is 23,625,000.

Our two largest shareholders, Arun Kumar and Rohit Singh, own, collectively, 26,250,000 issued and outstanding shares of our common stock.   All these shares are “restricted shares” as that term is defined in Rule 144 of the Rules and Regulations of the SEC promulgated under the Securities Act.  Under Rule 144, shares can be publicly sold, subject to volume restrictions and restrictions on the manner of sale, commencing one year after their acquisition.

There are no voting trusts or similar arrangements known to us whereby voting power is held by another party not named herein.  We know of no trusts, proxies, power of attorney, pooling arrangements, direct or indirect, or any other contract arrangement or device with the purpose or effect of divesting such person or persons of beneficial ownership of our common shares or preventing the vesting of such beneficial ownership.

25

Description of Our Securities

We have only common shares authorized and there are no preferred shares or other forms of shares.  Our authorized common stock consists of 500,000,000 shares of common stock, par value $0.001 per share.  The holders of our common stock:

- have equal ratable rights to dividends from funds legally available therefore, when, as, and if declared by our Board of Directors;

- are entitled to share ratably in all of the assets of Siga available for distribution upon winding up of the affairs of Siga; and

- do not have preemptive, subscription or conversion rights and there are no redemption or sinking fund provisions or rights; and

- are entitled to one non-cumulative vote per share on all matters on which shareholders may vote at all meetings of shareholders.

The shares of common stock do not have any of the following rights:

-           preference as to dividends or interest;

-           preemptive rights to purchase in new issues of shares;

-           preference upon liquidation; or

-           any other special rights or preferences.

All our shares of common stock now issued and outstanding are fully paid and non-assessable.

Convertible Securities

The shares are not convertible into any other securities.

Non-Cumulative Voting.

The holders of shares of our common stock do not have cumulative voting rights, which means that the holders of more than 50% of such outstanding shares, voting for the election of directors, can elect all of the directors to be elected, if they so choose.   In such event, the holders of the remaining shares will not be able to elect any of our directors.  Our directors and officers have 60 percent of the shares outstanding making it impossible for any shareholder or group of shareholders to accumulate sufficient votes of shares from other shareholders to change our directors.

ITEM 13.    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Transactions with Management and Others

Except as indicated below, there were no material transactions, or series of similar transactions, since inception of Siga, or any currently proposed transactions, or series of similar transactions, to which Siga was or is to be a party, in which the amount involved exceeds $120,000, and in which any director or executive officer, or any security holder who is known by Siga to own of record or beneficially more than 5% of any class of Siga’s common stock, or any member of the immediate family of any of the foregoing persons, has an interest.

Indebtedness of Management

There were no material transactions, or series of similar transactions, since inception of Siga, or any currently proposed transactions, or series of similar transactions, to which Siga was or is to be a part, in which the amount involved exceeded $120,000 and in which any director or executive officer, or any security holder who is known to Siga to own of record or beneficially more than 5% of the common shares of Siga’s capital stock, or any member of the immediate family of any of the foregoing persons, has an interest.

26

Conflicts of Interest

Ed Morrow is a director of Liberty Coal Energy Inc. in which he spends approximately 10% of his time. Otherwise none of our officers and directors is a director or officer of any other company involved in the mining industry.  However, there can be no assurance such involvement in other companies in the mining industry will not occur in the future.  Such potential future involvement could create a conflict of interest.

To ensure that potential conflicts of interest are avoided or declared, the Board of Directors adopted, on January 19, 2007, a Code of Ethics for the Board of Directors (the “Code”).  Siga’s Code embodies our commitment to such ethical principles and sets forth the responsibilities of Siga and its officers and directors to its shareholders, employees, customers, lenders and other organizations. Our Code addresses general business ethical principles and other relevant issues.

Transactions with Promoters

Siga does not have promoters and has no transactions with any promoters.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

(1)            Audit Fees

The aggregate fees billed by the independent registered accountants for the period ended July 31, 2010 for professional services for the review of the quarterly financial statements as at October  31, 2009, January 31, 2010 and April 30, 2010, annual financial statements as of July 31, 2010 and services that are normally provided by the accountants in connection with statutory and regulatory filings or engagements for those period years were as follows:  $500 for each of the quarters ended October 31, 2009, January 31, 2010 and April 30, 2010 and $3,500 for the audit of July 31, 2010.

(2)            Audit-Related Fees

The aggregate fees billed in each of the two periods mentioned above for assurance and related services by the principal accountants that are reasonably related to the performance of the audit or review of Siga’s financial statements and are not reported under Item 9 (e)(1) of Schedule 14A was NIL.

(3)            Tax Fees

The aggregate fees billed in July 31, 2010 for professional services rendered by the principal accountants for tax compliance, tax advice, and tax planning was NIL.

(4)            All Other Fees

During the period from inceptions to July 31, 2010 there were no other fees charged by the principal accountants other than those disclosed in (1) and (3) above.

(5)            Audit Committee’s Pre-approval Policies

At the present time, there are not sufficient directors, officers and employees involved with Siga to make any pre-approval policies meaningful.  Once Siga has elected more directors and appointed directors and non-directors to the Audit Committee it will have meetings and function in a meaningful manner.

(6)            Audit Hours Incurred

The principal accountants did not spend greater than 50 percent of the hours spent on the accounting by Siga’s internal accountant.

27

PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Exhibits

The following exhibits are included as part of this report by reference:

3	Corporate Charter (incorporated by reference from Siga’s Registration Statement on Form SB-2 filed on September 5, 2007, Registration No. 333-145879)
3 (i)	Articles of Incorporation (incorporated by reference from Siga’s registration Statement on Form SB-2 filed on September 5, 2007, Registration No. 333-145879)
3 (ii)	By-laws (incorporated by reference from Siga’s Registration Statement on Form SB-2 filed on September 5, 2007, Registration No. 333-145879)
4	Stock Specimen (incorporated by reference from Siga’s Registration Statement on Form SB-2 filed on September 5, 2007, Registration No. 333-145879)
10.0	Transfer Agent and Registrar Agreement (incorporated by reference from Siga’s Registration Statement on Form SB-2 filed on September 5, 2007, Registration No. 333-145879)
10.1	Corporate Acquisition Agreement between Siga, Touchstone Ventures Ltd, and Touchstone Precious Metals,  Inc  dated September 24, 2010
10.2	Letter Agreement dated May 15, 2010 between Peter Osha and Touchstone Precious Metals, Inc. regarding the Option to Purchase the Lucky Thirteen Claim from Peter Osha.
10.3	Extension Agreement dated October 14, 2010 between Peter Osha, Touchstone Ventures Ltd, Touchstone Precious Metals Inc., and Siga Resources Inc.

Financial Statements.   The following financial statements are included in this report:

Title of Document	Page
Report of Madsen & Associates, CPA’s Inc.	35
Balance Sheets as at July 31, 2010 and 2009	36
Statement of Operations for years ended July 31, 2010 and 2009 and for the period from January 18, 2007 (date of inception) to July 31, 2010	37
Statement of Changes in Shareholders’ Deficiency for the period from January 18, 2007 (date of inception) to July 31, 2010	38
Statement of Cash Flows for years ended July 31, 2010 and 2009 and for the period ended January 18, 2007 (date of inception) to July 31, 2010	39
Notes to the Financial Statements	40

28

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGA RESOURCES, INC.

(Registrant)

By: /s/ EDWIN G. MORROW

Edwin Morrow

Chief Executive Officer,

President and Director

Date:  November 10, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on

the dates indicated

By: /s/ EDWIN G. MORROW

Chief Executive Officer,

President and Director

  Date: November 10, 2010

By: /s/ ROBERT MALASEK

Chief Financial Officer,

 and Director

Date:  November 10, 2010

29

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and
Stockholders of Siga Resources, Inc.

(A Pre-Exploration Stage Company)

We have audited the accompanying balance sheets of Siga Resources, Inc. (a Pre-Exploration Stage Company) (the Company) as of July 31, 2010 and 2009, and the related statements of operations, changes in stockholders’ deficiency, and cash flows for each of the years in the two-year period ended July 31, 2010, and for the period from January 18, 2007 (date of inception) to July 31, 2010. The Company’s management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluat ing the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Siga Resources, Inc. (a Pre-Exploration Stage Company) as of July 31, 2010 and 2009, and the results of its operations and its cash flows for each of the years in the two-year period ended July 31, 2010, and for the period from January 18, 2007 (date of inception) to July 31, 2010, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company will need additional working capital to service its debt and for its planned activity, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are described in the notes to the financial statements. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Madsen & Associates CPA’s, Inc.

Madsen & Associates CPA’s, Inc.

Salt Lake City, Utah

November 10, 2010

F-1

SIGA RESOURCES, INC.
(Pre-exploration Stage Company)
BALANCE SHEETS
		July 31, 2010		July 31, 2009
ASSETS
CURRENT ASSETS
Cash	$	-	$	-
Total Current Assets	$	-	$	-
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
CURRENT LIABILITIES
Accounts payable	$	58,195	$	17,743
Accounts payable-related parties		-		28,991
Total Current Liabilities		58,195		46,734
STOCKHOLDERS’ DEFICIENCY
Common stock
500,000,000 shares authorized, at $0.001 par value;
43,785,000 shares issued and outstanding (Note 6)		43,785		43,785
Capital in excess of par value		38,564		25,515
Deficit accumulated during the pre-exploration stage		(140,544)		(116,034)
Total Stockholders’ Deficiency		(58,195)		(46,734)
	$	-	$	-
The accompanying notes are an integral part of these financial statements.

F-2

SIGA RESOURCES, INC.
(Pre-exploration Stage Company)
STATEMENTS OF OPERATIONS
For the years ended July 31, 2010 and 2009
and for the period from January 18, 2007 (date of inception) to July 31, 2010
						Jan. 18, 2007
		July 31, 2010		July 31, 2009		to July 31 ,    2010
REVENUES	$	-	$	-	$	-
EXPENSES
Impairment loss on mineral claim acquisition costs (Note 3)		-		-		5,000
General and Administrative		24,511		36,149		135,544
NET LOSS	$	24,511	$	36,149	$	140,544
NET LOSS PER COMMON SHARE
Basic and diluted	$	-	$	-
WEIGHTED AVERAGE OUTSTANDING SHARES
Basic and fully diluted		43,785,000		43,785,000
The accompanying notes are an integral part of these financial statements.

F-3

SIGA RESOURCES, INC.
(Pre-Exploration Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIENCY
Period January 18, 2007 (date of inception) to July 31, 2010
	Common		Stock		Capital in
	Shares		Amount		Excess of Par Value		Accumulated  Deficit
Balance January 18, 2007	-	$	-	$	-	$	-
Issuance of common shares for cash – July 11, 2007	26,250,000		26,250		(25,500)		-
Issuance of common shares for cash – July 31, 2007	17,535,000		17,535		7,515		-
Capital contributions - noncash expenses	-		-		8,700		-
Net loss for the period January 18,2007(date of inception) to July 31, 2007	-		-		-		(22,659)
Balance as of July 31, 2007	43,785,000		43,785		(9,285)		(22,659)
Capital contributions - noncash expenses	-		-		17,400		-
Net loss for the year ended July 31, 2008	-		-		-		(57,224)
Balance as of July 31, 2008	43,785,000		43,785		8,115		(79,883)
Capital contributions - noncash expenses	-		-		17,400		-
Net loss for the year ended July 31, 2009	-		-		-		(36,150)
Balance as of July 31, 2009	43,785,000		43,785		25,515		(116,033)
Capital contributions - noncash expenses	-		-		13,049		-
Net loss for the year ended July 31, 2010	-		-		-		(24,511)
Balance as of July 31, 2010	43,785,000	$	43,785	$	38,564	$	(140,544)
The accompanying notes are an integral part of these financial statements

F-4

SIGA RESOURCES, INC.
(Pre-exploration Stage Company)
STATEMENTS OF CASH FLOWS
For the years ended July 31, 2010 and 2009
and for the period from January 18, 2007 (date of inception) to July 31, 2010
						January 18, 2007
		July 31,  2010		July 31,  2009		to July 31,  2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(24,511)	$	(36,149)	$	(140,544)
Adjustments to reconcile net loss to net cash provided by operating activities:
Capital contributions - noncash expenses		13,049		17,400		56,550
Changes in accounts payable		7,000		5,667		24,743
Net Cash  (Used in) Operating Activities		(4,462)		(13,082)		(59,251)
CASH FLOWS FROM INVESTING ACTIVITIES:		-		-		-
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related parties		4,462		11,059		33,451
Proceeds from issuance of common stock		-		-		25,800
Net Cash  provided by Financing Activities		4,462		11,059		59,251
Net Increase (Decrease) in Cash		-		(2,023)		-
Cash at Beginning of Year		-		2,025		-
CASH AT END OF YEAR	$	-	$	-	$	-
SUPPLEMENTAL DISCLOSURE OF NONCASH
FINANCING ACTIVITIES
Capital contributions – noncash expenses	$	13,049	$	17,400	$	56,550
The accompanying notes are an integral part of these financial statements

F-5

SIGA RESOURCES, INC.

(Pre-exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

July 31, 2010

1.           ORGANIZATION

The Company, Siga Resources, Inc. was incorporated under the laws of the State of Nevada on January 18, 2007 with the authorized capital stock of 300,000,000 shares at $0.001 par value.  On January 31, 2008, the Secretary of State for Nevada approved an amendment to the Articles of Incorporation where the total number of shares of common stock was increased to 500,000,000 shares of common stock with a par value of $0.001 per share.

The Company was organized for the purpose of acquiring and developing mineral properties.  At the report date mineral claims, with unknown reserves, had been acquired.  The Company has not established the existence of a commercially minable ore deposit and therefore has not reached the exploration stage and is considered to be in the pre-exploration stage.

2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods

The Company recognizes income and expenses based on the accrual method of accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Basic and Diluted Net Income (loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.

Evaluation of Long-Lived Assets

The Company periodically reviews its long term assets and makes adjustments, if the carrying value exceeds fair value.

F-6

SIGA RESOURCES, INC.

(Pre-exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

July 31, 2010

2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

Income Taxes

The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed.   An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

As of July 31, 2010, the Company had a net operating loss carry forward of $140,544 for income tax purposes.  The tax benefit of approximately $42,000 from the loss carry forward has been fully offset by a valuation reserve because the future tax benefit is undeterminable since the Company is unable to establish a predictable projection of operating profits for future years.  The losses begin to expire in 2027.

Foreign Currency Translations

Part of the transactions of the Company were completed in Canadian dollars and have been translated to US dollars as incurred, at the exchange rate in effect at the time, and therefore, no gain or loss from the translation is recognized.  The functional currency is considered to be US dollars.

Revenue Recognition

Revenue is recognized on the sale and delivery of a product or the completion of a service provided.

Advertising and Market Development

The company expenses advertising and market development costs as incurred.

Financial Instruments

The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in accordance with general accepted accounting principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.   Actual results could vary from the estimates that were assumed in preparing these financial statements.

F-7

SIGA RESOURCES, INC.

(Pre-exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

July 31, 2010

2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

Statement of Cash Flows

For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.

Mineral Property Costs

The Company 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. The Company assesses the carrying costs for impairment at each fiscal quarter end. An impairment is recognized when the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral property.  Impairment losses, if any, are measured as the excess of the carrying amount of the mineral property over its estimated fair value.

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 proven and probable reserves.  If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.

Environmental Requirements

At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made.

Reclassifications

Certain prior period amounts in the accompanying financial statements have been reclassified to conform to the current period’s presentation. These reclassifications had no effect on the results of operations or financial position for any period presented.

Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.

F-8

SIGA RESOURCES, INC.

(Pre-exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

July 31, 2010

3.           ACQUISITION OF MINERAL CLAIM

On March 11, 2007, the Company acquired the Valolo Claim located in the Republic of Fiji for $5,000.  The Valolo Claim is located 10 miles east of the town of Korovou , Fiji.  Under Fijian law, the claim remains in good standing as long as the Company has an interest in it.   There is no annual maintenance fee or minimum exploration work required on the Claim but the Company is required to have a mining license in order to keep the claim in good standing.

The acquisition costs have been impaired and expensed because there has been no exploration activity nor has there been any reserve established and we cannot currently project any future cash flows or salvage value for the coming year and the acquisition costs might not be recoverable.

4.           SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Officers-directors have acquired 60% of the common stock issued, have made advances to the Company of $33,452, and have made contributions to capital of $56,550 in the form of noncash expenses. The advances from directors were assigned to a third party on May 31, 2010.

5.           CAPITAL STOCK

On July 11, 2007, the Company completed a private placement consisting of 26,250,000 post split common shares sold to directors and officers for a total consideration of $750. On July 31, 2007, the Company completed a private placement of 17,535,000 post split common shares for a total consideration $25,050.

On January 16, 2008, the directors of the Company approved a resolution to forward split the common share of the Company based on a 35 new shares for each old share held by the shareholders (“Forward Split”).  As a result of the Forward Split the common shares increased from 1,251,000 common shares with a par value of $0.001 per share to 43,785,000 common shares with a par value of $0.001 per share. The 43,785,000 post split common shares are shown as split from the date of inception.

6.           GOING CONCERN

The Company intends to seek business opportunities that will provide a profit.  However, the Company does not have the working capital necessary to be successful in this effort and to service its debt, which raises substantial doubt about its ability to continue as a going concern.

Continuation of the Company as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional loans from related parties, and equity funding, which will enable the Company to operate for the coming year.

F-9

SIGA RESOURCES, INC.

(Pre-exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

July 31, 2010

7.           SUBSEQUENT EVENT

On September 24, 2010, the Company has entered into an earn-in agreement with Touchstone Ventures Inc., a British Columbia Company, whereby it can earn an 80% interest in Touchstone Ventures Inc.’s wholly owned subsidiary company, Touchstone Precious Metals Inc., a British Columbia Company (“Touchstone”), by investing ten million Canadian dollars (CAD$10,000,000) for acquisition and development costs. The initial investment is for three hundred and five thousand Canadian dollars (CAD$305,000) to determine and confirm the resource and develop other information requisite to completing the projects’ production design.

The Company has evaluated subsequent events through November 10, 2010.

F-10

EX-10

Exhibit 10.1

EX-10

Exhibit 10.2

EX-10

Exhibit 10.3

EX-31

Exhibit  31.1

Rule 13a-14(a) 15(d)-14(a) Certification

By Chief Executive Officer

I, Edwin Morrow, certify that:

1.  

I have reviewed this Form 10-K of Siga Resources, Inc. (the “small business issuer”);

2.  

Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in the 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.  

The small business issuer’s other certifying officer(s) and I are 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 have:

(a)  

Designed such disclosure controls and procedures, or cause such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)  

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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 principles;

(c)  

Evaluated 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 the end of the period covered by this report based on such evaluation; and

(d)  

Disclosed in this report any changes 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 forth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer’s internal control over the financial reporting; and

5.  

The small business issuer’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financing 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 functions):

(a)  

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and

(b)  

Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal control over financial reporting.

Date: November 10,, 2010

/s/ EDWIN G. MORROW                                  

   Edwin Morrow

   Chief Executive Officer, President and Director

EX-31

Exhibit 31.2

Rule 13a-14(a) 15(d)-14(a) Certification

By Chief Financial Officer

I Robert Malasek, certify that:

       1.      I have reviewed this Form 10-K of Siga Resources, Inc. (the “small business issuer”);

2.

Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in the 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.

The small business issuer’s other certifying officer(s) and I are 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 have:

(a)  

Designed such disclosure controls and procedures, or cause such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)  

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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 principles;

(c)  

Evaluated 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 the end of the period covered by this report based on such evaluation; and

(d)  

Disclosed in this report any changes 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 forth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer’s internal control over the financial reporting; and

5

The small business issuer’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financing 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 functions):

(a)  

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and

(b)  

Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal control over financial reporting.

Date: November 10, 2010

/s/ ROBERT MALASEK                                                    

  Robert Malasek

  Chief Financial Officer, Secretary Treasurer and Director

EX-32

Exhibit 32.1

CERTIFICATE PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report (the “Report”) on the Form 10-K of Siga Resources, Inc. (the “Company”) for the year ended July 31, 2009, as filed with the Securities and Exchange Commission on the date hereof, I, Edwin G. Morrow, Chief Executive Officer, President and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

a.

The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities and Exchange Act of 1934, as amended; and

b.

The information contained in this Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: November 10, 2010

         /s/ EDWIN G. MORROW                            

     Edwin G. Morrow

          Chief Executive Officer,

            President and Director

EX-32

Exhibit 32.2

CERTIFICATE PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report (the “Report”) on the Form 10-K of Siga Resources, Inc. (the “Company”) for the year ended July 31, 2009, as filed with the Securities and Exchange Commission on the date hereof, I, Robert Malasek Chief Financial Officer, Secretary Treasurer and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

1.    The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities and Exchange Act of 1934, as amended; and

2.     The information contained in this Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: November 10, 2010

            /s/     ROBERT MALASEK                                             

          Robert Malasek

          Chief Financial Officer, Secretary Treasurer and Director