This Form 10-QSB is the subject of a Form 12b-25

FORM 10-QSB
UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

(Mark One)
[ X ]  Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the quarterly report period ended August 31, 2003[   ]  Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the transition period from [  ] to [  ]
Commission file number 333-102661



|UCLUELET EXPLORATION CORP.                                                       
|---------------------------------------------------------------------------------
|(Exact name of small business issuer specified in its charter)                   
|NEVADA                                                                           
|(State or Other Jurisdiction of Incorporation or Organization)                   
|2861 W. 12TH AVENUE, VANCOUVER, BRITISH COLUMBIA, CANADA V6K 2R1                 
|(Address of Principal Executive Offices)                                         
|(604) 734-5501                                                                   
|Issuer's telephone number, including area code                                   
|                                                                                 
|(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 Securities Exchange Act of 1934 during the preceding 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  [ ]

Applicable only to corporate issuers:

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

As of August 31, 2003 there were 2,267,000 common shares outstanding.



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UCLUELET EXPLORATION CORP. 
INDEX



|PART I - FINANCIAL INFORMATION                                                                                                                                                                                                                               
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Item 1 - Financial Statements                                                                                                                                                                                                                                
|Balance Sheet as of August 31, 2003 (unaudited)                                                                                                                                                                                                              
|Statements of Operations for the three month period ended August 31, 2003 and August 31, 2002, and for the nine month period ended August 31, 2003 and August 31, 2002, and for the Period from June 21, 2002 (Inception) through August 31, 2003 (unaudited)
|Statements of Cash Flow for the nine month period ended August 31, 2003 and August 31, 2002, and for the Period from June 21, 2002 (Inception) through August 31, 2003 (unaudited)                                                                           
|Notes to Financial Statements (unaudited)                                                                                                                                                                                                                    
|Item 2 - Management's Discussion And Analysis Of Financial Condition And Results Of Operations                                                                                                                                                               
|Item 3 - Controls and Procedures                                                                                                                                                                                                                             
|PART II - OTHER INFORMATION                                                                                                                                                                                                                                  
|Item 1 - Legal Proceedings                                                                                                                                                                                                                                   
|Item 2 - Change in Securities and Use of Proceeds                                                                                                                                                                                                            
|Item 3 - Defaults Upon Senior Securities                                                                                                                                                                                                                     
|Item 4 - Submission of Matters of a Vote of Security Holders                                                                                                                                                                                                 
|Item 5 - Other Information                                                                                                                                                                                                                                   
|Item 6 - Exhibits and Other Reports on Form 8-K                                                                                                                                                                                                              
|CERTIFICATION                                                                                                                                                                                                                                                



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SAFE HARBOR STATEMENT

This quarterly report on Form 10-QSB includes forward-looking statements. All statements, other than statements of historical 
fact made in this Quarterly Report on Form 10-QSB are forward-looking. In particular, the statements herein regarding industry 
prospects and future results of operation or financial position are forward-looking statements. Forward-looking statements reflect 
management's current expectations based on assumptions believed to be reasonable and are inherently uncertain as they are subject 
to various known and unknown risks, uncertainties and contingencies, many of which are beyond the control of Ucluelet 
Exploration Corp. The Company's actual results may differ significantly from management's expectations.

In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should," "expects," "plans," 
"intends," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms or other 
comparable terminology.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future 
results, events, levels of activity, performance, or achievements. We do not assume responsibility for the accuracy and completeness 
of the forward-looking statements. We do not intend to update any of the forward-looking statements after the date of this quarterly 
report to conform them to actual results.

The following financial information and discussion and analysis should be read in conjunction with the Company's Annual Report on 
Form 10-KSB. The discussion of results, causes and trends should not be construed to imply that such results, causes or trends will 
necessarily continue in the future.

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Item 1. 	Financial Statements - August 31, 2003

UCLUELET EXPLORATION CORP.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
August 31, 2003
(Unaudited)



|ASSETS                                                                                               |         
|---------------------------------------------------------------------------------------------------- | --------
|Current assets                                                                                       |         
|Cash                                                                                                 | $	27,865
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                                 |         
|Current liabilities:                                                                                 |         
|Accounts payable                                                                                     | $	2,000 
|Shareholder advances                                                                                 | 2,800   
|Total current liabilities                                                                            | 4,800   
|Commitments                                                                                          |         
|STOCKHOLDERS' EQUITY:                                                                                |         
|Common stock, $.001 par value, 25,000,000 shares authorized, 2,267,000 shares issued and outstanding | 2,267   
|Additional paid in capital                                                                           | 27,705  
|Deficit accumulated during the development stage                                                     | (6,907) 
|Total Stockholders' Equity                                                                           | 23,065  
|TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                           | $	27,865



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UCLUELET EXPLORATION CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
Three and Nine Months Ended August 31, 2003
and Period from June 21, 2002 (Inception) through August 31, 2003
(Unaudited)



|                                     | Three months ended
August 31, | Nine months ended
August 31, | Inception through
August 31,
|------------------------------------ | ----------------------------- | ---------------------------- | ----------------------------
|                                     | 2003                          |                              | 2002                        
|                                     |                               |                              |                             
|General and Administrative           | $	312                         |                              | $	-                         
|Net loss                             | $	(312)                       |                              | $	-                         
|Net loss per share:                  |                               |                              |                             
|Basic and diluted                    | $ (0.00)                      |                              | n/a                         
|Weighted average shares outstanding: |                               |                              |                             
|Basic and diluted                    | 2,034,304                     |                              | n/a                         



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UCLUELET EXPLORATION CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
Nine Months Ended August 31, 2003
and Period from June 21, 2002 (Inception) through August 31, 2003
(Unaudited)



|                                                                           | Nine Months Ended 
August 31, | Nine Months Ended 
August 31, | Inception through
August 31,
|-------------------------------------------------------------------------- | ----------------------------- | ----------------------------- | ----------------------------
|                                                                           | 2003                          | 2002                          | 2003                        
|CASH FLOWS FROM OPERATING ACTIVITIES                                       |                               |                               |                             
|Net loss                                                                   | $	(3,606)                     | $	-                           | $	(6,907)                   
|Adjustments to reconcile net deficit to cash used by operating activities: |                               |                               |                             
|Expenses paid by shareholder                                               | -                             | -                             | 1,272                       
|Net change in:                                                             |                               |                               |                             
|Accounts payable                                                           | -                             | -                             | 2,000                       
|CASH FLOWS USED IN OPERATING ACTIVITIES                                    | (3,606)                       | -                             | (3,635)                     
|CASH FLOWS FROM FINANCING ACTIVITIES                                       |                               |                               |                             
|Proceed from the sale of common stock                                      | 26,700                        | -                             | 28,700                      
|Proceeds from shareholder advances                                         | 1,800                         | -                             | 2,800                       
|CASH FLOWS FROM FINANCING ACTIVITIES                                       | 28,500                        | -                             | 31,500                      
|NET CHANGE IN CASH                                                         | 24,894                        | -                             | 27,865                      
|Cash, beginning of period                                                  | 2,971                         | -                             | -                           
|Cash, end of period                                                        | $	27,865                      | $	-                           | $	27,865                    



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UCLUELET EXPLORATION CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
(unaudited)

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of Ucluelet Exploration Corp. ("Ucluelet") have been prepared 
in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities 
and Exchange Commission ("SEC"), and should be read in conjunction with the audited financial statements and notes thereto 
contained in the Company's registration statement filed with the SEC on Form SB2. In the opinion of management, all 
adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results 
of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are 
not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would 
substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2002 as 
reported in Form SB2, have been omitted.

NOTE 2 - COMMON STOCK

In August 2003, Ucluelet sold 267,000 shares of common stock to individuals at $.10 per share or $26,700.

NOTE 2 - SUBSEQUENT EVENT

In September 2003, Ucluelet sold 640,750 shares of common stock to individuals at $.10 per share or $64,075.

Item 2. 	Management's Discussion and Analysis of Financial Condition and Results of Operations.

THE FOLLOWING DISCUSSION AND ANALYSIS PROVIDES INFORMATION WHICH THE COMPANY'S 
MANAGEMENT BELIEVES IS RELEVANT TO AN ASSESSMENT AND UNDERSTANDING OF THE COMPANY'S 
RESULTS OF OPERATIONS AND FINANCIAL CONDITION. THIS DISCUSSION SHOULD BE READ TOGETHER 
WITH THE COMPANY'S FINANCIAL STATEMENTS AND THE NOTES TO FINANCIAL STATEMENTS WHICH 
ARE INCLUDED IN THIS REPORT, AND WITH THE COMPANY'S FORM 10-KSB.

Financial Condition, Liquidity and Capital Resources

Since inception on June 21, 2002, the Company has been engaged in exploration and acquisition of mineral properties. 
The Company's principal capital resources have been acquired through issuance of common stock and from shareholder loans.

At August 31, 2003, we had working capital of $23,065 compared to working capital of $29 at February 28, 2003.

At August 31, 2003, our Company's total assets of $27,865 consisting of cash. This compares with our Company's assets at 
February 28, 2003 of $2,971 also consisted only of cash.

At August 31, 2003, our Company's total liabilities were $4,800, compared to our liabilities of $3,000 as of February 28, 2003.

Our Company has not had revenues from inception. We were currently raising up to an aggregate of $190,000 pursuant to our 
Form SB-2 registration statement, declared effective July 14, 2003. At this time we have insufficient capital resources to explore 
and develop our mineral properties.

Our Company has no long-term debt and does not regard long-term borrowing as a good, prospective source of financing.

Results of Operations.

The Company posted losses of $312 for the three months ending August 31, 2003, losses of $3,606 for the nine months 
ended August 31, 2003 and losses of $6,907 since inception to August 31, 2003. The principal component of the losses were for 
general and administrative expenses.

Operating expenses for the three months ending August 31, 2003 were $312 compared to our operating expenses for the nine 
months ending August 31, 2003 of $3,606 and our losses from inception to August 31, 2003 which were $6,907.

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ITEM 3. CONTROLS AND PROCEDURES

Our principal executive officer and principal financial officer evaluated the effectiveness of our disclosure controls and procedures 
(as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end 
of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer have 
concluded that our controls and procedures are effective in providing reasonable assurance that the information required to be 
disclosed in this report is accurate and complete and has been recorded, processed, summarized and reported as of the end of the 
period covered by this report. During the fiscal quarter covered by this report, there have not been any significant changes in our 
internal controls or, to our knowledge, in other factors that could significantly affect our internal controls.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

99.1 Certification by Chief Executive Officer pursuant to 18 U.S.C. 1350

99.2 Certification by Chief Financial Officer pursuant to 18 U.S.C. 1350

(b) Reports on Form 8-K

None.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report 
to be signed on its behalf by the undersigned, thereunto duly authorized.

UCLUELET EXPLORATION CORP.

(Registrant)



|By:_/s/ David Heel___________________President, CEO, Treasurer, CFO, Secretary & Director
|-----------------------------------------------------------------------------------------
|Date:  October 15, 2003                                                                  

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___________________________________________________________________________________________



CERTIFICATION PURSUANT TO RULE 13a-14 OF THE 
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, 
AS ADOPTED PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002

I, David Heel, Principal Executive Officer and Principal Financial Officer of the Company certify that:

1) I have reviewed this quarterly report on Form 10-QSB of the Company;

2) Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material 
fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with 
respect to the period covered by this quarterly report;

3) Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all 
material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this 
quarterly report;

4) I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 
15d-14) for the registrant and have:

a) Designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its 
consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this quarterly 
report is being prepared;

b) Evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing 
date of this quarterly report (the "Evaluation Date"); and

c) Presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on 
my evaluation as of the Evaluation Date;

5) I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors 
(or persons performing the equivalent functions):

a) All significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to 
record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal
 controls; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's 
internal controls; and

6) I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could 
significantly affect internal controls subsequent to the date of my most recent evaluation, including any corrective actions with regard to 
significant deficiencies and material weaknesses.

Date: October 15, 2003

/s/ David Heel_______________________David Heel, President, Secretary, Treasurer
CEO, CFO & Director

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___________________________________________________________________________________________



EXHIBIT 99.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Ucluelet Exploration Corp. (the "Company") on Form 10-QSB for the period ending 
August 31, 2003 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, David Heel, Principal 
Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley 
Act of 2002, that, to the best of my knowledge and belief:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations 
of the Company.

/s/ David Heel___________________David Heel
Principal Executive Officer
October 15, 2003

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___________________________________________________________________________________________



EXHIBIT 99.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Ucluelet Exploration Corp. (the "Company") on Form 10-QSB for the period ending 
August 31, 2003 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, David Heel, Principal 
Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act 
of 2002, that, to the best of my knowledge and belief:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations 
of the Company.

/s/ David Heel__________________David Heel
Principal Financial Officer
October 15, 2003

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