U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB



[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2004

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

Commission file number: 0-50190

|                                               | New Pacific Ventures, Inc. | 
|---------------------------------------------- | -------------------------- | 
|(Name of small business issuer in its charter)

|                                                               |  |                                     
|-------------------------------------------------------------- |  | ------------------------------------
|Corlorado                                                      |  | 47-0877018                          
|(State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification No.)
|                                                               |  |                                     
|Suite 603-1500 Ostler Court                                    |  |                                     
|North Vancouver, British Columbia, Canada                      |  | V7G 2S2                             
|(Address of principal executive offices)                       |  | (Zip Code)                          

Issuer's telephone number: (604) 762-5652

Indicate by checkmark whether the registrant (1) has 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 | [ ]
|--- | --- |  | -- | ---

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practical date:

Outstanding at January 31, 2004

9,000,000

$.001 par value common stock

|Transitional Small Business Disclosure Format (Check one): | Yes [ ] |  | No [X]
|---------------------------------------------------------- | ------- |  | ------

page



NEW PACIFIC VENTURES , INC.

FORM 10-QSB

TABLE OF CONTENTS



PART I--FINANCIAL INFORMATION



|ITEM 1.
ITEM 2.
ITEM 3. | Financial Statements
Management Discussion and Analysis of Financial Condition and Results of Operation
Controls and Procedures | 3
4
5
|----------------------- | ------------------------------------------------------------------------------------------------------------------------------- | -----



PART II--OTHER INFORMATION



|ITEM 1.
ITEM 2.
ITEM 3.
ITEM 4.
ITEM 5.
ITEM 6. | Legal Proceedings
Changes in Securities
Defaults Upon Senior Securities
Submission of Matters to a Vote of Security Holders
Other Information
Exhibits and Reports on Form 8-K | 5
5
5
5
5
6
|----------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -----------











-2-

PART I--FINANCIAL INFORMATION

ITEM 1.	Financial Statements



NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

CONDENSED FINANCIAL STATEMENTS

UNAUDITED

January 31, 2004



INDEX





|                                                                                                                                                      | Page
|----------------------------------------------------------------------------------------------------------------------------------------------------- | ----
|                                                                                                                                                      |     
|Balance Sheet                                                                                                                                         | F-1 
|                                                                                                                                                      |     
|Statement of Operations for the three months ended January 31, 2004 and 2003 and for the period May 22, 2001 (Date of Inception) to January 31, 2004  | F-2 
|                                                                                                                                                      |     
|Statement of Change in Stockholders' Equity for the period May 22, 2001 (Date of Inception) to January 31, 2004                                       | F-3 
|                                                                                                                                                      |     
|Statements of Cash Flows for the three months ended January 31, 2004 and 2003 and for the period May 22, 2001 (Date of Inception) to January 31, 2004 | F-4 
|                                                                                                                                                      |     
|Notes to Interim Financial Statements                                                                                                                 | F-5 

-3-

NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

BALANCE SHEET

As at January 31, 2004 and October 31, 2003



|                                                                                            | January 31, | October 31,
|------------------------------------------------------------------------------------------- | ----------- | -----------
|                                                                                            | 2004        | 2003       
|ASSETS                                                                                     
|Current Assets                                                                              |             |            
|Cash                                                                                        | $	84        | $	780      
|                                                                                            |             |            
|LIABILITIES                                                                                
|Current Liabilities                                                                         |             |            
|Accounts payable                                                                            | $	14,000    | $	11,125   
|                                                                                            |             |            
|                                                                                           
|STOCKHOLDERS' EQUITY (DEFICIENCY)                                                          
|Preferred stock                                                                             |             |            
|25,000,000 shares authorized at $0.001 par value, none
outstanding                          | -           | -          
|Common stock                                                                                |             |            
|100,000,000 shares authorized, at $0.001 par value, 9,000,000
shares issued and outstanding | 9,000       | 9,000      
|Deficit accumulated during the pre-exploration stage                                        | (	22,916)   | (	19,345)  
|                                                                                            |             |            
|Total stockholders' equity (deficiency)                                                     | (	13,916)   | ( 10,345)  
|                                                                                            |             |            
|                                                                                            | $	84        | $	780      
|                                                                                            |             |            

The accompanying notes are an integral part of these financial statements

F-1



NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

STATEMENT OF OPERATIONS

for the three months ended January 31, 2004 and 2003

and for the period May 22, 2001 (Date of Inception) to January 31, 2004



|                           |  |                    |               |            | May 22, 2001
|-------------------------- |  | ------------------ | ------------- | ---------- | ------------
|                           |  |                    |               |            | (Date of    
|                           |  | Three months ended | Inception) to
|                           |  | January 31,        | January 31,  
|                           |  |                    | 2004          | 2003       | 2004        
|                           |  |                    |               |            |             
|Interest income            |  |                    | $	-           | $	4        | $	22        
|                           |  |                    |               |            |             
|Expenses                   |  |                    | 3,571         | 1,500      | 22,938      
|                           |  |                    |               |            |             
|Net loss                   |  |                    | $	(	3,571)    | $	(	1,496) | $	(	22,916) 
|                           |  |                    |               |            |             
|Net loss per common share  |  |                    |               |            |             
|Basic                      |  |                    | $	0.00        | $	0.00     |             
|                           |  |                    |               |            |             
|Average outstanding shares |  |                    |               |            |             
|Basic                      |  |                    | 9,000,000     | 9,000,000  |             
|                           |  |                    |               |            |             

The accompanying notes are an integral part of these financial statements

F-2

NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

for the period May 22, 2001 (Date of Inception) to January 31, 2004



|                                                                   |              |           | Capital in  |            
|------------------------------------------------------------------ | ------------ | --------- | ----------- | -----------
|                                                                   | Common Stock | Excess of | Accumulated
|                                                                   | Shares       | Amount    | Par value   | Deficit    
|                                                                   |              |           |             |            
|Balance, May 22, 2001 (Date of Inception                           | -            | $	-       | $	-         | $	-        
|Issuance of common stock for cash at $0.001                        | 9,000,000    | 9,000     | -           | -          
|                                                                   |              |           |             |            
|Net operating loss for the period
May 22, 2001 to October 31, 2001 | -            | -         | -           | -          
|                                                                   |              |           |             |            
|Balance, October 31, 2001                                          | 9,000,000    | 9,000     | -           | -          
|Net operating loss for the year                                    | -            | -         | -           | (	6,300)   
|                                                                   |              |           |             |            
|Balance, October 31, 2002                                          | 9,000,000    | 9,000     | -           | (	6,300)   
|Net operating loss for the year                                    | -            | -         | -           | (	13,045)  
|                                                                   |              |           |             |            
|Balance, October 31, 2003                                          | 9,000,000    | 9,000     | -           | (	19,345)  
|Net operating loss for the period                                  | -            | -         | -           | (	3,571)   
|                                                                   |              |           |             |            
|Balance, January 31, 2004                                          | 9,000,000    | $	9,000   | $	-         | $	(	22,916)
|                                                                   |              |           |             |            

The accompanying notes are an integral part of these financial statements

F-3

NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

STATEMENT OF CASH FLOWS

for the three months ended January 31, 2004 and 2003

and for the period May 22, 2001 (Date of Inception) to January 31, 2004



|                                                                              |  |                    |               |            | May 22, 2001
|----------------------------------------------------------------------------- |  | ------------------ | ------------- | ---------- | ------------
|                                                                              |  |                    |               |            | (Date of    
|                                                                              |  | Three months ended | Inception) to
|                                                                              |  | January 31,        | January 31,  
|                                                                              |  |                    | 2004          | 2003       | 2004        
|Cash flows from operating activities                                          |  |                    |               |            |             
|Net loss                                                                      |  |                    | $	(	3,571)    | $	(	1,496) | $	(	22,916) 
|Adjustment to reconcile net loss to  net cash provided by operating  activity |  |                    |               |            |             
|Change in accounts payable                                                    |  |                    | 2,875         | 1,433      | 14,000      
|                                                                              |  |                    |               |            |             
|Net cash used in operations                                                   |  |                    | (	696)        | ( 63)      | (	8,916)    
|                                                                              |  |                    |               |            |             
|Cash flows from financing activity                                            |  |                    |               |            |             
|Proceeds from issuance of stock                                               |  |                    | -             | -          | 9,000       
|                                                                              |  |                    |               |            |             
|Net increase (decrease) in cash                                               |  |                    | (	696)        | ( 63)      | 84          
|                                                                              |  |                    |               |            |             
|Cash at beginning of period                                                   |  |                    | 780           | 5,700      | -           
|                                                                              |  |                    |               |            |             
|Cash at end of period                                                         |  |                    | $	84          | $	5,637    | $	84        
|                                                                              |  |                    |               |            |             

The accompanying notes are an integral part of these financial statements

F-4

NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

NOTES TO THE INTERIM FINANCIAL STATEMENTS

January 31, 2004



|Note 1 | Organization                                                                                                                                                                                                                                                                                                              
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       | The Company was incorporated under the laws of the State of Colorado on May 22, 2001 with authorized common stock of 100,000,000 shares at $0.001 par value and preferred stock of 25,000,000 at $0.001 par value.                                                                                                        
|       | The preferred shares may be issued in one or more series with terms at the discretion of the Board of Directors. There have been no preferred shares issued.                                                                                                                                                              
|       | The Company was organized for the purpose of acquiring and exploring mineral properties. At the report date mineral claims, with unknown reserves, have been acquired. The Company has not established the existence of a commercially minable ore deposit and therefore is considered to be in the pre-exploration stage.
|       | Since inception, the Company has completed a private placement offering of 9,000,000 common shares for $9,000.                                                                                                                                                                                                            
|       |                                                                                                                                                                                                                                                                                                                           

|Note 2 | Summary Of Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                           
|------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | Accounting Methods                                                                                                                                                                                                                                                                                                                                                                                                                                   
|       | The Company recognizes income and expenses based on the accrual method of accounting.                                                                                                                                                                                                                                                                                                                                                                
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | Dividend Policy                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | The Company has not yet adopted a policy regarding payment of dividends,                                                                                                                                                                                                                                                                                                                                                                             
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | On January 31, 2004 the Company had a net operating loss carry forward of $22,916. The resulting tax benefit of $6,875 from the loss carry forward has been fully offset by a valuation reserve because the use of the future tax benefit is doubtful since the Company has no operations. The net operating loss will expire in the year 2025.                                                                                                      
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | Basic and Diluted Net Loss Per Share                                                                                                                                                                                                                                                                                                                                                                                                                 
|       | Basic net loss per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net loss per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of the preferred share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.

F-5



NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

NOTES TO THE INTERIM FINANCIAL STATEMENTS

January 31, 2004



|Note 2 | Summary of Significant Accounting Policies - (cont'd)                                                                                                                                                                                                                                                                                                                                                                                   
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Capitalization of Mineral Claim Costs                                                                                                                                                                                                                                                                                                                                                                                                   
|       | Cost of acquisition, exploration, carrying and retaining unproven properties are expensed as incurred.                                                                                                                                                                                                                                                                                                                                  
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Environmental Requirements                                                                                                                                                                                                                                                                                                                                                                                                              
|       | At the report date, environmental requirements related to the mineral claims acquired (Note 3) are unknown and therefore an estimate of any future cost cannot be made.                                                                                                                                                                                                                                                                 
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Financial Instruments                                                                                                                                                                                                                                                                                                                                                                                                                   
|       | The carrying amounts of financial instruments, including cash and accounts payable are considered by management to be their estimated fair values. These values are not necessarily indicative of the amounts that the Company could realize in a current market exchange.                                                                                                                                                              
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Estimates and Assumptions                                                                                                                                                                                                                                                                                                                                                                                                               
|       | Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Comprehensive Income                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | The Company adopted Statement of Financial Accounting Standards No. 130. The adoption of this standard had no impact on the total stockholder's equity.                                                                                                                                                                                                                                                                                 
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Recent Accounting Pronouncements                                                                                                                                                                                                                                                                                                                                                                                                        
|       | The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.                                                                                                                                                                                                                                                                                        
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Note 3 | Option to Purchase Mineral Claims                                                                                                                                                                                                                                                                                                                                                                                                       
|       | On September 23, 2002, the Company acquired an option to purchase mineral claims known as "Riley Claims" located in the Clinton Mining Division, British Columbia.                                                                                                                                                                                                                                                                      
|       | The claims have not been proven to have a commercially minable ore reserve and therefore all costs for exploration and retaining the properties have been expensed.                                                                                                                                                                                                                                                                     



F-6



NEW PACIFIC VENTURES, INC.

(A Pre-exploration Stage Company)

NOTES TO THE INTERIM FINANCIAL STATEMENTS

January 31, 2004

|Note 3 | Option to Purchase Mineral Claims - (cont'd)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       | The terms of the purchase to vest 100% in the claims includes total payments of CND$30,000 and completing work commitments totalling CDN$30,000 on the claims on the dates in the following outline. The property is subject to a royalty of 2% of the net smelter returns with a right to acquire the rights to the royalty after start of commercial production for $1,000,000.                                                                                                                                                                                                  
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | Purchase price;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | CDN$5,000 upon execution of the agreement (paid)
CDN$5,000 by June 6, 2004
CDN$10,000 by June 6, 2005
CDN$10,000 by June 6, 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | Work commitments;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|       | CDN$2,500 in work by June 6, 2003 (incurred)
CDN$5,000 in work by June 6, 2004
CDN$10,000 in work by June 6, 2005
CDN$12,500 in work by June 6, 2006                                                                                                                                                                                                                                                                                                                                                                                                                               
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | Commencing on June 6, 2007 and on the anniversary thereof each year until the property is placed in commercial production, the Company shall pay the sum of CDN$10,000 in cash, or the equivalent value in free-trading common shares of the Company, as an advance against the royalty to be paid on commercial production occurring. All advance royalties so paid by the Company shall be recoverable by the Company, together with interest at a rate equal to prime rate plus 2%, from 90% of the royalty payable to you on commercial production occurring from the property.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Note 4 | Related Party Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       | Related parties have acquired 33% of the outstanding common stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Note 5 | Going Concern                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       | Continuation of the Company as a going concern is dependent upon obtaining additional working capital to service its future obligations and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding, and long term financing, which will enable the Company to operate for the coming year.                                                                                                                                                                                                     



F-7

|ITEM 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations.
|------- | --------------------------------------------------------------------------------------

The following discussion should be read in conjunction with the Financial Statements and Notes thereto appearing elsewhere in this Form 10-QSB. As described elsewhere in this Form 10-QSB, New Pacific is a pre-exploration stage company. As of the date of this filing, New Pacific is in the business of acquiring and exploring mineral properties and does not have a source of revenue at this time.

(a)	Plan of Operation.

New Pacific's outside auditor has noted that there is substantial doubt about our ability to continue as a going concern. In light of New Pacific's lack of revenues, and operating capital, New Pacific's ability to continue as a going concern is dependent upon future events, such as the successful development and exploration of the mineral property, reliance on one set of mineral claims, New Pacific's ability to engage the services of highly qualified consultants who have expertise in the industry and New Pacific's ability to secure additional sources of financing.

As of the financial period ended January 31, 2004, New Pacific had not generated any revenues from operations since its inception on May 22, 2001 and has accumulated a deficit of $22,916.

New Pacific anticipates spending approximately $7,500 for exploration activities and capital expenditures during the next twelve months. And, during its fiscal year ending October 31, 2004, and through the first quarter ending January 31, 2005, New Pacific anticipates its corporate expenses to be approximately $10,000.

The Company does not expect any significant changes in the number of its employees from its first quarter ended January 31, 2004 and the next 12 months.

During its fiscal year ending October 31, 2004 and its first quarter ending January 31, 2005, management of New Pacific plans to satisfy its cash requirements of approximately $17,000 by raising additional capital by way of loans, private placements and/or a public offering, to satisfy working capital needs and in order to proceed with the necessary exploration on the Property.

In light of New Pacific's lack of revenues, and operating capital, New Pacific's ability to continue as a going concern is dependent upon future events, such as the successful development and exploration of the mineral property, reliance on one set of mineral claims and New Pacific's ability to engage the services of highly qualified consultants who have expertise in the industry.

Additionally, continuation of the Company as a going concern is dependent upon obtaining additional working capital to service its future obligations and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding, and long term financing, which will enable the Company to operate for the coming year.



4

|ITEM 3. | Controls and Procedures
|------- | -----------------------



|(a) | Evaluation of Disclosure Controls & Procedures.
|--- | -----------------------------------------------

Based on their evaluation as of the end of the period covered by this Form 10-QSB, the Company's president, as its principal executive officer, and secretary/treasurer, as its principal financial officer, have carried out an evaluation of the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934). Based upon this evaluation, the principal executive officer and principal financial officer have concluded the Company's disclosure controls and procedures are effective in timely informing them of material information relating to the Company required to be disclosed in its reports under the Securities Exchange Act of 1934.

|(b) | Changes in Internal Control over Financial Reporting.
|--- | -----------------------------------------------------

There was no change in the Company's internal control over financial reporting during the Company's fiscal quarter covered by this Form 10-QSB that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

PART II -- OTHER INFORMATION

|ITEM 1. | Legal Proceedings.
|------- | ------------------

We have no legal proceedings in effect.

|ITEM 2. | Changes in Securities and Use of Proceeds.
|------- | ------------------------------------------

There have been no changes in securities during this reporting period.

|ITEM 3. | Defaults Upon Senior Securities.
|------- | --------------------------------

We incurred no defaults upon senior securities during this reporting period.

|ITEM 4. | Submission of Matters to a Vote of Security Holders.
|------- | ----------------------------------------------------

None.

|ITEM 5. | Other Information.
|------- | ------------------

None

5



|ITEM 6. | Exhibits and Reports on Form 8-K.
|------- | ---------------------------------



|(a) | Exhibits
|--- | --------

There are no exhibits to this Form 10-QSB.

|(b) | Form 8-K
|--- | --------

There have been no reports filed on Form 8-K for the period.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

New Pacific Ventures, Inc.

(Registrant)



|/s/Gerry Jardine | 
|---------------- | 
|Gerry Jardine    | 
|President        | 

Date:		March 15, 2004



6