ROUGE RESOURCES LTD.
MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR QUARTER ENDED APRIL 30, 2010
(Stated in Canadian Dollars)
ITEM 1.1 INTRODUCTION
The following Management Discussion and Analysis (“MD&A”) was prepared as of June 30, 2010 and should
be read in conjunction with related interim unaudited financial statements and notes for the quarter ended April
30, 2010 contained herein and the audited financial statements and notes for the year ended January 31, 2010.
Rouge Resources Ltd. (“we or the Company”) was incorporated in British Columbia on March 31, 1998, which
was also the date of inception. Our name was changed from Gemstar Resources Ltd on October 23, 2007 and
at the same time a one for ten (1:10) share consolidation of our authorized, issued and outstanding share capital
was approved and implemented. This resulted in all share and per share information in the financial statements
being presented on a retroactive basis as if the share consolidation took place at the beginning of all years
We are a reporting issuer in both British Columbia and Alberta and a foreign issuer in the United States with the
Securities and Exchange Commission. Our common shares are posted for trading on the Over-The-Counter:
Bulletin Board (OTC:BB) in the United States under the symbol ROUGF:OB.
We are in the business of acquisition, exploration and, if warranted, development of mineral resource properties.
We are in the exploration stage and accordingly no current revenues have been recorded nor have any been
realized since inception. Significant additional financing and considerable time and effort will be required to
continue exploring our mineral property interests and, if warranted, to develop them into commercial
ITEM 1.2 DESCRIPTION OF BUSINESS
Prior to January 31, 2009, we had a single 15-unit mining claim totaling approximately 375 hectares called the
Dotted Lake Property. It is located in the Thunder Bay Mining District of Northern Ontario, approximately 45k