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&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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 2013.&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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 and we intend to produce silver and gold at our Corazon and Liz properties in 2013.&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company is currently in the exploration
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: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company has incurred a cumulative
net loss since inception on December 3, 2007 to February 28, 2013 of $2,299,000 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.&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On July 12, 2011, the Company established
a 100% owned subsidiary, Finder Plata S.A. de C.V. (&amp;#147;Finder Plata&amp;#148;) for the conduct of the Company&amp;#146;s exploration
business in Mexico.&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;UNAUDITED FINANCIAL STATEMENTS&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&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 February 28, 2013 and February 29, 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;

&lt;p style="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"&gt;&amp;#160;&lt;/p&gt;



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