U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]             QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
               For the quarterly period ended: September 30, 2000

[ ]              TRANSITION REPORT UNDER SECTION 13 OF 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
   For the transition period from _____________________ to __________________

                         Commission file number 0-27953

                           GOLDEN RIVER RESOURCES INC.
        (Exact name of small business issuer as specified in its charter)

             NEVADA                                             98-0187538
(State or other jurisdiction of                               (IRS Employer
incorporation or organization)                              Identification No.)


         2420 Pandosy Street, Kelowna, British Columbia, Canada V1Y 1T8
                    (Address of principal executive offices)

                                 (250) 717-1049
                           (Issuer's telephone number)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                          if changed since last report)

         Check whether the issuer (1) filed all reports  required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days. Yes X No ____

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the last practicable date:

            17,845,099 SHARES OF COMMON STOCK, $.001 PAR VALUE, AS OF
                               SEPTEMBER 30, 2000

    Transitional Small Business Disclosure Format (check one); Yes    No X



<PAGE>















                      Consolidated Financial Statements of

                      GOLDEN RIVER RESOURCES INC.

                      and Subsidiaries

                      (A Development Stage Enterprise)

                      Period ended September 30, 2000





                                       2
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Consolidated Balance Sheets

September 30, 2000 and June 30, 2000

$ United States
<TABLE>
<CAPTION>
                                                         September 30,         June 30,
                                                                  2000             2000
                                                 (Unaudited - prepared
                                                        by management)
                                                          ------------     ------------
Assets
<S>                                                       <C>              <C>
Current assets

  Cash                                                    $     9,532      $    19,865
  Prepaid expenses                                              4,474            9,081
                                                          ------------     ------------
                                                                                14,006
                                                               28,946

Fixed assets (note 3)                                           7,705            8,174
                                                          ------------     ------------
                                                          $    21,711      $    37,120
                                                          ============     ============

Liabilities and Stockholders' Deficiency

Current liabilities
  Accounts payable and accrued liabilities                $   137,146      $   124,129
  Due to stockholders' (note 4)                                10,577           21,468
  Debt (note 5)                                                60,350           60,350
  Interim financing payable (note 6)                           75,000           75,000
                                                          ------------     ------------
                                                              283,073          280,947

Subscriptions for shares (note 7(d))                          100,000           25,000

Shares to be issued for services (note 7(b))                      -             10,630

Stockholders' Deficiency
  Capital stock (note 7)                                       17,845           17,653
  Additional paid in capital                                1,983,262        1,979,911
  Deficit accumulated during the development stage         (2,375,391)      (2,289,943)
  Accumulated other comprehensive income
    Cumulative translation adjustment                          12,922           12,922
                                                          ------------     ------------
                                                             (361,362)        (279,457)

                                                          ------------     ------------
                                                          $    21,711      $    37,120
                                                          ============     ============
</TABLE>

See accompanying notes to consolidated financial statements.

On behalf of the Board:

    "ROGER D. WATTS"                                      Director
-----------------------------------------


    "R. BRUCE MANERY"                                     Director
---------------------------------------

                                       3
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Consolidated Statements of Loss

Three month periods ended  September 30, 2000 and 1999
(Unaudited - prepared by Management)

$ United States
<TABLE>
<CAPTION>
                                                        From Inception        Three months        Three months
                                                       (June 13, 1997)               ended               ended
                                                      to September 30,       September, 30       September 30,
                                                                  2000                2000                1999
                                                          ------------        ------------        ------------
<S>                                                       <C>                 <C>                 <C>
Expenses
  Consulting fees                                         $   229,246         $       -           $   196,920
  Depreciation                                                  4,043                 469                 562
  Exploration of mineral properties                           358,038                 -                40,121
  Foreign exchange                                            (20,506)             (9,918)                -
  General and administrative                                  132,360              22,923              17,313
  Interest                                                     10,667               4,000                 -
  Management fees                                             182,412                 -                   -
  Option payments to acquire mineral properties               860,489                 -                   -
  Professional fees                                           326,470              38,523              22,665
  Travel and promotion                                        292,172              29,451              20,394
                                                          ------------        ------------        ------------
Loss                                                      $ 2,375,391         $    85,448         $   297,975
                                                          ============        ============        ============


Weighted average number of shares                                              17,702,444          14,822,872

Loss per share                                                                $     (0.00)        $     (0.02)
                                                                              ============        ============
</TABLE>






See accompanying notes to consolidated financial statements.





                                       4
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Consolidated Statement of Stockholders' Deficiency and Comprehensive Income

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States
<TABLE>
<CAPTION>
                                                                                              Deficit      Accumulated
                                              CAPITAL STOCK                        Accumulated during            Other
                                          --------------------        Additional      the Development    Comprehensive
                                          Shares        Amount   Paid in Capital                Stage           Income         Total
                                      ----------       -------      ------------         ------------        ---------    ----------
<S>                                   <C>              <C>          <C>                  <C>                 <C>          <C>
Balance June 30, 2000                 17,653,072       $17,653      $ 1,979,911          $(2,289,943)        $ 12,922     $(279,457)

Issued for services (note 7(b))          142,027           142           16,901                  -                -          17,043

Issued for services (note 7(c))           50,000            50            4,950                  -                -           5,000

Share issue costs                            -             -            (18,500)                 -                -         (18,500)

Loss                                         -             -                -                (85,448)             -         (85,448)
                                      ----------       -------      ------------         ------------        ---------    ----------
Balance, September 30,
  2000                                17,845,099       $17,845      $ 1,983,262          $(2,375,391)        $ 12,922     $(361,632)
                                      ==========       =======      ============         ============        =========    ==========

</TABLE>


See accompanying notes to consolidated financial statements.




                                       5
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Consolidated Statements of Cash Flows

Three month periods ended  September 30, 2000 and 1999
(Unaudited - prepared by Management)

$ United States
<TABLE>
<CAPTION>
                                                       From Inception        Three months         Three months
                                                      (June 13, 1997)               ended                ended
                                                     to September 30,       September, 30        September 30,
                                                                 2000                2000                 1999
                                                         ------------           ---------           ----------
Cash flows from operating activities:
<S>                                                      <C>                    <C>                 <C>
  Loss                                                   $(2,375,391)           $(85,448)           $(297,975)
  Non cash items
    Depreciation                                               4,043                 469                  562
    Mineral property option payments paid with
      share consideration                                     60,000                 -                    -
    Compensation cost of options issued to non-employees      97,500                 -                 78,700
    Interest expense paid by shareholder on behalf
      of the Company                                          10,667               4,000                  -
    Consulting fees paid with share consideration            118,220                 -                118,220
    Expenses paid with share consideration                    11,413              11,413                  -
Changes in non-cash working capital:
  Accounts payable and accrued liabilities                   126,255               2,126               (5,641)
  Other                                                       18,327                 607               10,671

                                                          (1,928,966)            (66,833)             (95,463)
Cash flows from financing activities:
  Proceeds of debt                                            60,350                 -                 60,350
  Proceeds of interim financing                               75,000                 -                    -
  Subscriptions for shares                                   100,000              75,000                  -
  Issuance of capital stock                                1,030,230                 -                    -
  Share issue costs                                          (18,500)            (18,500)                 -
  Proceeds from realization of net assets acquired
    on the business combination with Golden River            690,244                 -                    -
                                                         ------------           ---------           ----------
                                                           1,925,576              56,500               60,350
Cash flows from investing activities:
  Purchase of capital assets                                 (11,748)                -                    -

Foreign currency translation adjustment                       12,922                 -                   (947)
                                                         ------------           ---------           ----------
Increase (decrease) in cash                                    9,532             (10,333)             (36,060)

Cash, beginning of period                                        -                19,865               57,149

Cash, end of period                                      $     9,532            $  9,532            $  21,089
                                                         ============           =========           ==========

Supplementary information
  Interest paid                                                  -                   -                    -
  Income taxes paid                                              -                   -                    -

Non-cash financing and investing activities
  Common shares issued for services                          198,220               5,000               75,000
  Common shares issued pursuant to
    mineral property agreements                               60,000                 -                    -
  Common shares issued for share issue costs                  17,043              17,043                  -
  Compensation cost of options issued to non-employees        97,500                 -                    -
  Interest expense paid by shareholder on behalf
    of the Company                                            12,000                 -                    -
  Reversal of amount accrued in 1999 for share
    issue costs                                               80,000                 -                    -
                                                         ============           =========           ==========

</TABLE>

See accompanying notes to consolidated financial statements.





                                    6
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 1)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------


1.   NATURE OF OPERATIONS:

     Golden  River  Resources  Inc.   ("Golden  River"  or  the  "Company")  was
     incorporated  on June 17, 1997 under the laws of Nevada and is  currently a
     shell  company  which is actively  pursuing an operating  company (note 9).
     Prior to June 30,  2000,  the  Company's  principal  business  activity was
     mineral property exploration.

2.   SIGNIFICANT ACCOUNTING POLICIES:
     a)   General

          The  information  included in the  accompanying  consolidated  interim
          financial  statements is unaudited  and should be read in  conjunction
          with  the  annual  audited  financial  statements  and  notes  thereto
          contained in the  Company's  Report on Form 10-KSB for the fiscal year
          ended June 30, 2000. In the opinion of  management,  all  adjustments,
          consisting  of  normal  recurring  accruals,   necessary  for  a  fair
          presentation  of the results of  operations  for the  interim  periods
          presented,  have been reflected herein.  The results of operations for
          the interim periods  presented are not  necessarily  indicative of the
          results to be expected for the entire  fiscal year.

     b)   Going  concern

          These  financial  statements  have been  prepared on the going concern
          basis,  which assumes the  realization  of assets and  liquidation  of
          liabilities  in  the  normal  course  of  business.  As  shown  in the
          consolidated financial statements,  to date, the Company has generated
          no revenues and has cumulative  losses since  inception of $2,375,391.
          These  factors,  among  others,  raise  substantial  doubt  about  the
          Company's  ability  to  continue  as a going  concern.  The  Company's
          ability to continue as a going  concern is dependent on its ability to
          generate future profitable  operations and receive continued financial
          support from its  shareholders  and other  investors.  The Company has
          entered  into an agreement to acquire  Columbus  Networks  Corporation
          (Note  9). If  completed  as  proposed,  management  intends  that the
          Company's  future  active   operations  will  be  based  on  Columbus'
          business.  Management  intends  to pursue  financings  to fund  future
          operations,  although no firm financing  sources have been identified.
          If  management  is unable to generate  sufficient  cash to fund future
          operating activities it may be required to reduce operations.

     c)   Basis of  presentation  and consolidation

          The  consolidated  financial  statements  include the  accounts of the
          Company   and   its   wholly-owned   subsidiaries.   All   significant
          intercompany balances and transactions have been eliminated.



                                       7
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 2)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------

2.   SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):

     d)   Translation of Financial Statements

          The  functional  currency of the Company and its  subsidiary,  Rob Roy
          Resources Ltd., is the United States dollar. The Company's  subsidiary
          operates  in Canada  and its  operations  are  conducted  in  Canadian
          currency. The method of translation into United States dollars applied
          is as follows:

          i)   Monetary  assets and  liabilities  are  translated at the rate of
               exchange in effect at the balance sheet date,  being US $1.00 per
               Cdn $1.507 (June 30, 2000 - $1.4839).

          ii)  Non-monetary assets and liabilities are translated at the rate of
               exchange in effect at the date the transaction occurred.

          iii) Expenses are  translated at the rate of exchange in effect at the
               transaction date.


          iv)  The net  adjustment  arising from the  translation is included in
               the  consolidated  statement of loss.

     e)   Use of estimates

          The  preparation of financial  statements in conformity with generally
          accepted  accounting  principles requires management to make estimates
          and  assumptions  that  affect  the  reported  amounts  of assets  and
          liabilities  and  disclosures of contingent  assets and liabilities at
          the date of the  financial  statements  and the  reported  amounts  of
          revenues and expenses  during the  reporting  period.  Actual  results
          could differ from those estimates.

     f)  Financial instruments

          The fair values of cash and accounts  payable and accrued  liabilities
          approximate  their carrying values due to the relatively short periods
          to maturity of these instruments.  It is not possible to determine the
          fair value of amounts due to  stockholders  and debt as maturity dates
          are not determinable and there is no active market for indebtedness of
          this  nature.   The  fair  value  of  the  interim  financing  payable
          approximates its carrying amount due to the fixed interest rate of the
          financing  closely  approximating  floating  rates  at  the  financial
          statement  date.  The maximum  credit risk  exposure for all financial
          assets is the carrying amount of that asset.




                                       8
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 3)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------

2.   SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):

     g)   Fixed assets

          Fixed assets are stated at cost.  Depreciation  is provided  using the
          following  method and annual  rates which are intended to amortize the
          cost of assets over their estimated useful life:
<TABLE>
<CAPTION>

          Asset                                       Method                Rate
<S>                                        <C>                               <C>
          Furniture and equipment          Declining balance                 20%
          Computer equipment               Declining balance                 30%
</TABLE>



     h)   Loss  per  share

          Loss per share has been calculated  using the weighted  average number
          of common  shares  outstanding  during the  period.  The effect of the
          stock options (note 7(e)),  have not been included in the  computation
          because to do so would be anti-dilutive.

     i)   Accounting standards change

          In June,  1998, the Financial  Accounting  Standards Board issued SFAS
          No.  133,   "Accounting   for  Derivative   Instruments   and  Hedging
          Activities."  Adoption of this statement is not expected to impact the
          Company's results of operations or financial position.

     j)   Stock option plan

          During  1999,  the  Company   adopted  a  stock  option  plan  whereby
          directors,  officers,  consultants  and  employees of the Company were
          granted  the  right  to  subscribe  for up to 10%  of the  issued  and
          outstanding shares of the Company. Options issued pursuant to the plan
          have a vesting period of three months, expire five years from the date
          of issue and have  exercise  prices  equal to or greater than the fair
          market value of the Company's  common stock at the date of grant.

          The Company applies APB Opinion No. 25 in accounting for stock options
          granted to employees whereby compensation cost is recorded only to the
          extent that the market price exceeds the exercise price at the date of
          grant and,  accordingly,  no compensation  cost will be recognized for
          its  employee  stock  options  in the  financial  statements.  Options
          granted to non-employees  are accounted for at their fair value at the
          date of grant.




                                       9
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 4)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------

2.   SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):

     k)   Income taxes

          The  Company  accounts  for  income  taxes by the asset and  liability
          method. Under the asset and liability method,  deferred tax assets and
          liabilities   are   recognized   for  the  future   tax   consequences
          attributable to differences  between the financial  statement carrying
          amounts of existing assets and  liabilities  and their  respective tax
          bases, and operating loss and tax credit  carryforwards.  Deferred tax
          assets and  liabilities  are measured using enacted tax rates expected
          to apply to  taxable  income  in the  years in which  those  temporary
          differences  are expected to be  recovered  or settled.  The effect on
          deferred  tax  assets  and  liabilities  of a change  in tax  rates is
          recognized in income in the period that  includes the enactment  date.


          Although  the  Company  has   consolidated   loss   carryforwards   of
          approximately  $2,200,000  available,  no amount has been reflected on
          the balance sheet for deferred income taxes as any deferred income tax
          asset has been fully offset by a valuation allowance.

3.   FIXED ASSETS:

<TABLE>
<CAPTION>
     September 30, 2000                                                      Accumulated
                                                                  Cost      depreciation      Net book  Value
<S>                                                           <C>              <C>                 <C>
     Furniture and equipment                                  $ 7,717          $2,243              $5,474
     Computer equipment                                         4,031           1,800               2,231
                                                              -------          ------              ------
                                                              $11,748          $4,043              $7,705
                                                              =======          ======              ======

     June 30, 2000                                                           Accumulated
                                                                  Cost      depreciation      Net book  Value

     Furniture and equipment                                  $ 7,717         $1,955               $5,762
     Computer equipment                                         4,031          1,619                2,412
                                                              -------         ------               ------
                                                              $11,748         $3,574               $8,174
                                                              =======         ======               ======
</TABLE>

4.   DUE TO STOCKHOLDERS:

     The amount due to stockholders is unsecured and without  interest or stated
     terms of repayment.

5.   DEBT:

     The debt  represents  advances  made to the  Company by  stockholders  who,
     individually,  own less than 5% of the  outstanding  shares of the Company.
     The advances do not bear interest, have no fixed terms of repayment and are
     not pursuant to a written agreement.

6.   INTERIM FINANCING PAYABLE:

     On January 24, 2000, the Company signed an interim financing agreement with
     an unrelated  party for $75,000.  The financing was paid in full subsequent
     to September 30, 2000.




                                       10
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 5)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------

6.   INTERIM FINANCING PAYABLE (CONTINUED):

     In conjunction  with signing the  agreement,  the lender  received  150,000
     common  shares of the Company from a  stockholder  who owns less than 5% of
     the  Company.  The  market  value of  shares  at the time of the  transfer,
     aggregating  $12,000,  was  recorded  as  prepaid  interest  and a  capital
     contribution in the accounts of the Company.  This amount is amortized on a
     straight  line basis  over the  estimated  nine  month term of the  interim
     financing.

7.  CAPITAL STOCK:

     a)   Authorized:
              50,000,000  common  shares  with a par value of  $0.001  per share
               1,000,000 preferred shares with a par value of $0.01 per share

     b)   During the three months ended  September 30, 2000,  the Company issued
          142,027  common  shares for  services  valued at $17,043  based on the
          market value of the shares of $0.12 per share.  Of these  services,  a
          value of $10,630 had been provided at June 30, 2000.

     c)   During the three months ended September 30, 2000, the Company received
          services  for which it issued  50,000  common  shares  valued at their
          market  value of $0.10 per  share.

     d)   During the three months ended September 30, 2000, the Company received
          $75,000 for  subscriptions  for 750,000  common shares of the Company.
          Prior to June 30, 2000, the Company received $25,000 for subscriptions
          for 200,000  common  shares of the Company.  None of these shares were
          issued as of September  30, 2000.

     e)   During  the  fiscal  year  ended June 30,  2000,  the  Company  issued
          1,700,000  common  share stock  options.  These stock  options have an
          exercise  price of $0.10 per share and expire on  September  23, 2004.
          All options had vested as at June 30, 2000.

8.   RELATED PARTY TRANSACTIONS:

     During the period ended  September 30, 2000, the Company paid  professional
     fees of $30,000 (1999 - $nil) to the President of the Company.

     Included in accounts payable and accrued  liabilities at September 30, 2000
     is $24,750  (June 30,  2000 -  $84,417)  payable  to the  Directors  of the
     Company.



                                       11
<PAGE>


GOLDEN RIVER RESOURCES INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements (page 6)

Three month period ended September 30, 2000
(Unaudited - prepared by Management)

$ United States

--------------------------------------------------------------------------------

9.   SUBSEQUENT EVENT:

     a)   On August  15,  2000,  the  Company  signed a letter  of  intent  with
          Columbus   Networks   Corporation   ("Columbus")  a  Canadian  private
          corporation. Columbus' major activity is the development of electronic
          recruitment  websites  including the  Education  Canada  Network.  The
          letter   states  the  Company  will  issue,   subsequent  to  a  share
          consolidation,  approximately  11,200,000 common shares for all of the
          outstanding  common shares of Columbus such that after the transaction
          the former Columbus  shareholders  will own  approximately  70% of the
          outstanding  common  stock of the Company.  The  proposed  transaction
          would  be  accounted  for  as  a  reverse  acquisition  with  Columbus
          identified  as the  acquirer.  After  the  proposed  transaction,  the
          Company's  name will be  changed  to  Columbus  Networks  Corporation.
          Implementation  of the share  exchange is subject to completion of due
          diligence,  shareholder  and  regulatory  approval and  completion  of
          definitive agreements.

     b)   Subsequent  to September 30, 2000,  the  directors  approved a private
          placement  pursuant to which the  Company is  offering  for sale up to
          5,000,000  units at US $0.10 per unit. Each Unit consists of one share
          of Common Stock and one Common  Stock  Purchase  Warrant.  Each Common
          Stock Purchase  Warrant is exercisable to purchase one share of Common
          Stock at a price of US $0.10 per  share  for one year from the date of
          issuance.

          As at November 13, 2000,  4,375,000  Units have been sold  pursuant to
          this  private  placement  for  aggregate  proceeds  of  $437,500.  The
          proceeds of this private  placement  have been used for debt repayment
          ($75,000),  and legal and accounting fees ($20,000).  The remainder is
          to be loaned to Columbus for its marketing efforts






                                       12
<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

On June 30,  2000,  the Board of  Directors  of the  Company  determined  not to
continue with the  agreement to acquire a mining  property.  Accordingly,  since
that date it has not had any active operations.

Effective October 30, 2000, the Company entered into a Share Exchange  Agreement
with  Columbus  Networks   Corporation   ("Columbus"),   a  private  corporation
incorporated under the laws of British Columbia. The agreement contemplates that
the Company will issue,  after a reverse stock split of its outstanding  shares,
shares of its Common Stock for all of the  outstanding  common stock of Columbus
such that after the transaction,  the current shareholders of Columbus will hold
70% of the  outstanding  shares of the Company's  common stock,  and the current
shareholders  and option holders of the Company will retain 30% ownership of the
outstanding  shares,  prior to the  issuance  of shares for  brokerage  fees and
shares sold in a recent private  placement.  Completion of the share exchange is
subject to shareholder approval. A special meeting of shareholders is to be held
December 2, 2000.

The Company is currently  engaged in a private placement of its Common Stock and
warrants to raise up to $500,000 in gross proceeds. The proceeds of the offering
are to be loaned to Columbus.

RESULTS OF OPERATIONS

During the three months ended September 30, 2000, the Company incurred a loss of
$85,448 due primarily to expenditures for professional  fees ($38,523),  general
and administrative expenses ($22,923),  and travel and promotion ($29,451).  The
Company has yet to generate any  revenues.  This  compares to a loss of $297,975
for the  three  months  ended  September  30,  1999,  with the most  significant
expenditures  being $196,920 in consulting fees,  $40,121 in exploration  costs,
$22,665 in professional  fees,  $20,394 in travel and promotion,  and $17,313 in
general and administrative expenses.

Due to the  lack  of any  revenues,  and the  cumulative  losses  of  $2,375,391
incurred  through  September 30, 2000,  there is a  substantial  doubt about the
Company's  ability to continue as a going concern,  as explained in Note 2.b) of
the  Notes  to the  Financial  Statements.  The  Company  must  generate  future
profitable   operations  and  receive  continued   financial  support  from  its
shareholders and other investors.  Management  intends that the Company's future
active  operations  will  be  based  on  Columbus'   business  if  the  proposed
acquisition is completed. If the acquisition is not completed,  the Company will
have to locate another business opportunity and/or additional funding to sustain
its existence.

FINANCIAL CONDITION

Since inception,  the Company's capital resources have been limited. The Company
has had to rely upon the sale of equity securities for cash required to fund the
administration  of the Company.  From its inception  through September 30, 2000,
the Company has raised $1,011,730,  net of share issuance costs from the sale of
its Common Stock. Since the Company does not expect to generate any



                                       13
<PAGE>

revenues  in the near  future,  it will have to  continue  to rely upon sales of
equity and debt  securities  to raise  capital.  It follows that there can be no
assurance that  financing,  whether debt or equity,  will always be available to
the Company in the amount  required at any particular time or for any particular
period or, if available,  that it can be obtained on terms  satisfactory  to the
Company.

Pursuant to an interim  financing  agreement dated January 24, 2000, the Company
borrowed $75,000 from an unrelated  party. The interim  financing bears interest
at 8%, was due in full by October 30, 2000, and is guaranteed by R. Bruce Manery
and Roger Watts,  officers and directors of the Company.  In October  2000,  the
Company repaid this loan in full. In addition, during the fiscal year ended June
30, 2000, the Company borrowed $60,350 from various shareholders. These advances
do not bear interest, have no fixed terms of repayment, and are not evidenced by
any written agreements. The Company will need to obtain additional funds through
loans  of this  sort or the  sale  of its  equity  securities  to  maintain  its
operations.

At September 30, 2000, the Company had a working capital deficiency of $269,067,
as  compared  to a  deficiency  of  $262,631  at June 30,  2000.  The  increased
deficiency is due  primarily to the loss  incurred  during the three months then
ended.

PLAN OF OPERATION

Of the $283,073 in current  liabilities at September 30, 2000,  $137,146 was for
trade and other obligations,  and $75,000 had a October 30, 2000 repayment date.
The remaining amount of $70,927 does not have a fixed date for repayment.

As of September 30, 2000, the Company had approximately $9,500 cash on hand. The
Company is able to maintain an office,  but is not able to service any  existing
debt.

Subsequent to September 30, 2000,  the Company sold units of its  securities for
$0.10  per  unit,  each unit  consisting  of one  share of Common  Stock and one
warrant that  entitles the holder to purchase one share of Common Stock at $0.10
per share. As of November 13, 2000,  4,375,000 units for total gross proceeds of
$437,500 had been sold.  The proceeds of this private  placement  have been used
for debt repayment  ($75,000),  and legal and  accounting  fees  ($20,000).  The
remainder is to be loaned to Columbus for its marketing efforts.




                                       14
<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

                  Not Applicable.

ITEM 2.           CHANGES IN SECURITIES

                  During the quarter ended  September 30, 2000,  the  registrant
                  issued 192,027 shares of its common stock to three individuals
                  for services valued at $22,043. No underwriter was involved in
                  these  transactions.  The registrant relied upon the exemption
                  from registration  contained in Section 4(2) of the Securities
                  Act of 1933.  The  persons to whom the shares were issued were
                  deemed to be  sophisticated  with respect to the investment in
                  the   securities   due  to  their   financial   condition  and
                  involvement in the registrant's business.  Restrictive legends
                  were placed on the stock certificates evidencing the shares.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

                  Not Applicable.

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                  Not Applicable.

ITEM 5.           OTHER INFORMATION

                  Not Applicable.

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

A)   EXHIBITS

<TABLE>
<CAPTION>
       REGULATION
       S-B NUMBER         DOCUMENT
<S>       <C>             <C>
          2.1             Offer to Purchase (1)<F1>
          3.1             Articles of Incorporation (1)<F1>
          3.2             Bylaws (1)<F1>
          10.1            Mexicana I Agreement dated as of February 12, 1998 (1)<F1>
          10.2            La Lajita Agreement dated as of February 12, 1998 (1)<F1>
          10.3            1999 Stock Option Plan (1)<F1>
          10.4            Agreement with Transmeridian Exploration Inc., as amended (1)<F1>
          10.5            Letter of Intent with OREX Gold Mines Corporation (1)<F1>
          10.6            Mexicana I Agreement dated as of November 12, 1999 (1)<F1>
          10.7            Interim Financing Agreement (1)<F1>
           21             Subsidiaries of the Registrant (1)<F1>
           27             Financial Data Schedule
---------------
<FN>
(1)<F1>  Incorporated  by reference to the exhibits filed with the  Registration  Statement on Form 10-SB,
         File No. 0-27953
</FN>
</TABLE>

                  B)       REPORTS ON FORM 8-K:

                  None.


                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                        GOLDEN RIVER RESOURCES INC.
                                        (Registrant)


Date:    November 14, 2000              By: /S/ ROBERT BRUCE MANERY
                                        ---------------------------------------
                                        Robert Bruce Manery, Secretary
                                        (Principal financial officer)



<PAGE>