ROUGE RESOURCES LTD.
JANUARY 31, 2010
To the Shareholders of Rouge Resources Ltd.
We have audited the balance sheets of Rouge Resources Ltd. as at January 31, 2010 and 2009 and the
statements of operations, comprehensive loss and deficit and cash flows for the years then ended. These financial
statements are the responsibility of the company's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with Canadian generally accepted auditing standards and with the
standards of the Public Company Accounting Oversight Board (United States). Those standards require that we
plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement presentation.
In our opinion, these financial statements present fairly, in all material respects, the financial position of the
Company as at January 31, 2010 and 2009 and the results of its operations and its cash flows for the years then
ended in accordance with Canadian generally accepted accounting principles.
The audited financial statements for the year ended January 31, 2008 were examined by other auditors who
expressed an opinion without reservation on those statements in their report dated May 8, 2008.
DALE MATHESON CARR-HILTON LABONTE LLP
May 18, 2009
In the United States, reporting standards for auditors require the addition of an explanatory paragraph (following
the opinion paragraph) when the financial statements are affected by conditions and events that cast substantial
doubt on the Com