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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;Sonora Resources Corp. (the &amp;#34;Company&amp;#34; or &amp;#34;Sonora
Resources&amp;#34;) was incorporated under the laws of the State of Nevada on December 3, 2007. The Company is a mining exploration
company focused on the acquisition and development of prospective silver and gold opportunities in Mexico.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;On March 15, 2013, the Company closed the Asset Purchase Agreement
(&amp;#147;Purchase Agreement&amp;#148;) with Yale Resources Ltd. (&amp;#147;Yale&amp;#148;), a company incorporated under the laws of the
Province of British Columbia, to purchase all of the right, title and interest in and to the Los Amoles 2 and Los Amoles 3 Fracc.1
properties, consisting of 2,166 hectares located in the State of Sonora Mexico (the &amp;#147;Property&amp;#148;). Yale agreed to use
all commercially reasonable efforts to acquire title to the Los Amoles 4 property which is approximately an additional 2,200 hectares
adjoining the Los Amoles 3 property.&amp;#160;&amp;#160;The Company purchased the Property from Yale by issuing 1,000,000 of restricted
SURE common shares and paying US$200,000 in cash.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The Company acquired a 100% interest in the Property from Yale and
canceled the Option Agreement dated November 26, 2010.&amp;#160;&amp;#160;Pursuant to the Option Agreement, Sonora would have been required
to incur the remaining exploration expenditures and to issue the remaining 200,000 common shares to acquire a 70% undivided beneficial
and legal interest in the Property. The Company has commenced an underground work program at the Los Amoles property and completed
a geologic report to define the potential vein structure and outcroppings and prepare for a planned drilling program in 2014.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The Company also has mining option agreements in (i) the Jalisco
Group of Properties, consisting of mining claims totaling 5,240 hectares located in Jalisco; and (ii) the Ayones Group of Properties
consisting of numerous mining claims totaling 48 hectares in Jalisco. The Company did not pay the $175,000 due February 10, 2013
to IMMSA Grupo M&amp;#233;xico under the August 10, 2011 Mining Option Agreement. The Company expects to renegotiate the 2011 Mining
Option Agreement with IMMSA Grupo M&amp;#233;xico.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;Also, the Company has five mining concessions on 721 hectares surrounding
the Ayones Group of Properties, called the Corazon Property. We have a letter of intent with the Liz Property located in Ayutla,
Jalisco State, Mexico. Sonora Resources is based in Guadalupe, Zacatecas, Mexico. We have concluded phase one field work at the
Corazon property.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The Company is currently in the development stage as defined in
ASC 915 &amp;#34;Accounting and Reporting for Development Stage Enterprises&amp;#34; and has minimal operations.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The Company has incurred a cumulative net loss since inception on
December 3, 2007 to May 31, 2013 of $2,394,458 and has no source of operating revenue. While the Company&amp;#146;s management believes
that the Company will be successful in its planned operating activities under our business plan and capital raising activities,
there can be no assurance that it will be successful in the mining development and exploration business or the raising of sufficient
capital such that it will generate adequate revenues to earn a profit or sustain its operations. These and other factors raise
doubt about the Company&amp;#146;s ability to continue as a going concern. The accompanying consolidated financial statements do not
include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern.&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;On July 12, 2011, the Company established a 100% owned subsidiary,
Finder Plata S.A. de C.V. (&amp;#34;Finder Plata&amp;#34;) for the development of its exploration business in Mexico.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;b&gt;UNAUDITED FINANCIAL STATEMENTS&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The accompanying unaudited financial statements of Sonora Resources
Corp. have been prepared in accordance with generally accepted accounting principles (&amp;#147;GAAP&amp;#148;) for interim financial
information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the
information and footnotes required by U.S. GAAP for complete financial statements. The financial statements for the periods ended
May 31, 2013 and 2012 are unaudited and include all adjustments necessary to a fair statement of the results of operations for
the periods then ended. All such adjustments are of a normal, recurring nature. The results of the Company's operations for any
interim period are not necessarily indicative of the results of the Company's operations for a full fiscal year. For further information,
refer to the financial statements and footnotes thereto included in the Company's Amended Annual Report on Form 10-K for the fiscal
year ended November 30, 2012 as filed with the Securities and Exchange Commission (the &amp;#34;SEC&amp;#34;) on July 22, 2013.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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