Walker Lane Exploration, Inc.

On July 30, 2014, the Company issued 255,400 Series B preferred shares to two noteholders to convert $127,020 of note principal and accrued interest. The Company had the right to buy back the preferred B shares for a period of 120 days at a per share price of $0.597. On December 16, 2014 the Company entered into an agreement to extend the preferred B shares buyback period to March 1, 2015. As of April 30, 2015, the contractual buyback period has expired and any future buyback would be by mutual agreement between the Company and the holders.

We will require a significant capital infusion in fiscal 2015, to commence any exploration activities. Prior to commencing the following program, we would need to secure $700,000 in financing at terms acceptable to us. As of the date of this report, we have no commitment for financing.

Upon successful completion of a financing sufficient for an exploration program, we expect to spend substantial amounts in connection with exploration of our mining properties. We anticipate that our expenses for our initial preparatory phase of exploration will total approximately $202,170, exclusive of any salary payable to our officers or directors.

Mr. Sharp is the President of Sharp Executive Associates, Inc., a privately held accounting firm located in Nampa, Idaho, which provides CFO services to clients. Prior to 2003, he worked for 14 years in positions of Chief Financial Officer, Managing Director of European Operations, and Corporate Controller for Key Technology, Inc., a publicly traded manufacturer of capital goods based in Walla Walla, Washington. From 1981 to 1989, Mr. Sharp worked in both public accounting and private industry. He holds a B.A. degree from Boise State University and is a Certified Public Accountant licensed in the states of Washington and Idaho.

During the period covered by this Quarterly Report on Form 10-Q, we have made no changes in our internal controls over financial reporting during the three month period ended April 30, 2015.