UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC  20549

                                   FORM 10-QSB

(Mark  one)

[X]     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR 15(D) OF THE SECURITIES
        EXCHANGE  ACT  OF  1934

        For the quarterly period ended September 30, 2001

[ ]     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 000-33109

                     MISSOURI RIVER AND GOLD GEM CORPORATION
        (Exact name of small business issuer as specified in its charter)

           MONTANA                                    81-0444479
(State or other jurisdiction of                 (IRS Employer Id. No.)
incorporation  or  organization)

                     2024 105TH PL. S.E., EVERETT, WA, 99208
                     ---------------------------------------
                    (Address of principal executive offices)

       Registrant's Telephone Number, Including Area Code: (509) 466-0576

        COMMON  STOCK                       THE  OTC-BULLETIN  BOARD
   Title  of  each  class             Name and exchange on which registered

Indicate by check mark whether the registrant (1) has 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 as the registrant was
required  to file such reports), and (2) has been subject to filing requirements
for  the  past  90  days.

Yes  [X]  No  [ ]

At  November  7,  2001, 4,938,115 shares of the registrant's common stock  were
outstanding.















<PAGE>
                     MISSOURI RIVER AND GOLD GEM CORPORATION
                                   FORM 10QSB
                     For the period ended September 30, 2001


                                TABLE OF CONTENTS



                                     PART I

                                                                           PAGE
ITEM 1 - Financial Statements

   Balance  Sheets  as  of  September  30,  2001
      and  December  31,  2000                                               3

   Statements  of  Operations  For  the  Three  and  Nine  Month
      Periods Ended September 30,  2001  and  2000                           4

   Statements  of  Cash  Flows  For  the  Nine  Month  Periods
      Ended  September  30,  2001  and  2000                                 5

   Notes  to  Financial  Statements                                          6

ITEM  2 - Management's Discussion and Analysis of Financial Condition
          And Results  of  Operations                                        7

                                     PART II

ITEM  1      Legal  Proceedings                                              8

ITEM  2      Changes  in Securities                                          8

ITEM  3      Defaults  Upon Senior Securities                                8

ITEM  4      Submission  of  Matters  to  a  Vote  of  Security  Holders     8

ITEM  5      Other  Information                                              8

ITEM  6      Exhibits and Reports on Form 8-K                                8

Signatures                                                                   9



















<PAGE>
                     MISSOURI RIVER AND GOLD GEM CORPORATION
                                   FORM 10QSB
                     For the period ended September 30, 2001


PART  I

ITEM  1:  FINANCIAL  STATEMENTS


BALANCE  SHEETS                                  AS OF SEPTEMBER 30, 2001
MISSOURI  RIVER  AND  GOLD  GEM  CORPORATION     AND  DECEMBER  31,  2000
--------------------------------------------     ----------------------------


                                                 September 30,  December 31,
                                                     2001            2000
                                                  (Unaudited)
                                                 -------------  -------------
ASSETS

CURRENT  ASSETS:
  Cash                                           $     67,587   $      5,185
  Accrued  interest  receivable                            88            -
                                                 -------------  -------------

         Total  current  assets                  $     67,675   $      5,185
                                                 =============  =============


LIABILITIES  AND  STOCKHOLDERSEQUITY  (DEFICIT)

CURRENT  LIABILITIES:
   Advances  payable  to officer                 $        -     $      3,072
   Note  payable  to  officer                             -            5,200
   Accrued  interest  payable                             -              285
                                                 -------------  -------------

         Total  current  liabilities                      -            8,557
                                                 -------------  -------------

STOCKHOLDERSEQUITY  (DEFICIT):
   Common stock; $.001 par value; 50,000,000
     shares authorized; 2,938,115 shares
     issued,  outstanding  and  subscribed
     as of December 31, 2000 and 4,938,115 as
     of September  30,  2001                            4,938          2,938
   Additional  paid-in  capital                       638,433        540,433
   Note  receivable  for  stock  purchase              (5,000)           -
   Accumulated  deficit                              (570,696)      (546,743)
                                                 -------------  -------------

      Total stockholders' equity (deficit)            67,675          (3,372)
                                                 -------------  -------------

      Total Liabilities and
         stockholders' equity (deficit)          $    67,675    $       5,185
                                                 =============  =============


See the accompanying notes.

<PAGE>


MISSOURI RIVER AND GOLD GEM CORPORATION    STATEMENT OF OPERATIONS FOR THE
                                           THREE AND NINE-MONTH PERIODS
(UNAUDITED)                                ENDED SEPTEMBER 30, 2001 AND 2000
----------------------------------------   ---------------------------------


<TABLE>
                                     September  30,  2001       September  30,  2000
                                 --------------------------  --------------------------
                                    Three         Nine          Three        Nine
                                    Months        Months        Months       Months
                                 ------------  ------------  ------------  ------------
<S>                              <C>           <C>           <C>           <C>
OPERATING EXPENSES:
  General and administrative
     expenses                    $     9,940   $    24,597   $        35    $      456
                                 ------------  ------------  ------------  ------------
  Total  Operating  Expenses           9,940        24,597            35           456
                                 ------------  ------------  ------------  ------------

OTHER  (INCOME)  EXPENSES:
  Interest  income                      (587)         (843)          (15)          (15)
  Interest expense                       -             199           130           153
                                 ------------  ------------  ------------  ------------
  Total Other (Income) Expenses         (587)         (644)          115           138
                                 ------------  ------------  ------------  ------------

NET  LOSS                        $     9,353   $    23,953   $       150   $       594
                                 ============  ============  ============  ============


NET  LOSS  PER  SHARE            $       Nil   $       Nil   $       Nil   $       Nil
                                 ============  ============  ============  ============


WEIGHTED AVERAGE NUMBER OF
   SHARES OUTSTANDING - BASIC      4,938,115     3,867,053     2,938,115     2,938,115
                                 ============  ============  ============  ============
</TABLE>



















See the accompanying notes.

<PAGE>
MISSOURI RIVER AND GOLD GEM CORPORATION     STATEMENTS OF CASH FLOWS FOR THE
                                            NINE-MONTH PERIODS ENDED
(UNAUDITED)                                 SEPTEMBER 30, 2001 AND 2000
-----------------------------------------   ----------------------------------



                                                     2001            2000
                                                  (Unaudited)
                                                 -------------  -------------

CASH  FLOWS  FROM  OPERATING  ACTIVITIES:
  Net  Loss                                      $    (23,953)  $       (594)
  Items not requiring the use of cash
    Increase in accrued interest receivable               (88)           -
    Increase (decrease) in interest payable              (285)           153
                                                 -------------  -------------
Net cash flows used by operating activities           (24,326)          (441)
                                                 -------------  -------------

CASH  FLOWS  FROM  FINANCING  ACTIVITIES:
  Increase (decrease) in advances from officer         (3,072)           421
  Proceeds from issuance of common stock               95,000            -
  Increase (decrease) in note payable to
    Officer                                            (5,200)         5,200
                                                 -------------  -------------
Net cash flows provided by financing activities        86,728          5,621
                                                 -------------  -------------

NET  INCREASE  IN  CASH                                62,402          5,180

CASH  AT  BEGINNING  OF  PERIOD                         5,185            -
                                                 -------------  -------------

CASH  AT  END  OF  PERIOD                        $     67,587   $      5,180
                                                 =============  =============

SUPPLEMENTAL DISCLOSURE OF CASH FLOWS
  INFORMATION:
  Cash paid during the period for interest       $        484   $        -
                                                 =============  =============

NON-CASH  FINANCING  TRANSACTION:
  Note  received  for  stock  purchase           $     5,000    $        -
                                                 =============  =============















See the accompanying notes.

<PAGE>
MISSOURI RIVER AND GOLD GEM CORPORATION
NOTES  TO  FINANCIAL  STATEMENTS
(UNAUDITED)

1.     BASIS  OF  PRESENTATION:

The  financial  statements  of  Missouri River and Gold Gem Corporation included
herein  have  been prepared without audit, pursuant to the rules and regulations
of  the  Securities  and  Exchange  Commission.   Although  certain  information
normally  included in financial statements prepared in accordance with generally
accepted accounting principles has been condensed or omitted, Missouri River and
Gold  Gem  Corporation  believes  that  the disclosures are adequate to make the
information presented not misleading.  These financial statements should be read
in  conjunction  with  the financial statements and notes thereto for the fiscal
year  ended December 31, 2000 included in the registrant's filing of Form 10-SB.

The  financial  statements   included  herein   reflect  all   normal  recurring
adjustments  that,  in  the  opinion  of  management,  are  necessary for a fair
presentation.  The results for interim periods are not necessarily indicative of
trends  or of results to be expected for the full year ending December 31, 2001.

2.     NATURE  OF  BUSINESS:

The  objectives  of  the   Company  are  to  seek,   investigate  and,  if  such
investigation  warrants, acquire an interest in business opportunities presented
to  it  by persons or firms who or which desire to seek the perceived advantages
of  a  publicly  registered  corporation. The Company has no recurring source of
revenue  and  has  incurred  operating  losses since inception. These conditions
raise  substantial  doubt  about  the  Company's  ability to continue as a going
concern.  The  interim financial statements do not contain any adjustments which
might  be  necessary  if  the  Company is unable to continue as a going concern.







              [The balance of this page left intentionally blank.]























<PAGE>
                     MISSOURI RIVER AND GOLD GEM CORPORATION
                                   FORM 10QSB
                     For the period ended September 30, 2001

ITEM  2 -  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
           RESULTS  OF  OPERATION

GENERAL

This  report  contains both historical and prospective statements concerning the
Company  and  its operations.  Prospective statements (known as "forward-looking
statements")  may  or  may  not  prove  true with the passage of time because of
future  risks  and uncertainties.  The Company cannot predict what factors might
cause  actual  results  to differ materially from those indicated by prospective
statements.

RESULTS  OF  OPERATIONS

For  the  nine-month  period ended September 30, 2001 compared to the nine-month
period  ended  September  30,  2000

For  the  nine months ended September 30, 2001, the Company generated a net loss
of  $23,953  compared  to  a  net loss of $594 experienced during the comparable
period  of  the  previous  year.  The increase in net loss from 2000 to 2001 was
primarily  due  to increased general and administrative expenses associated with
the  Company's audit of its financial statements and other legal and filing fees
associated  with  the  preparation  and  filing of Form 10-SB, "General Form for
Registration  of  Securities of Small Business Issuers," with the Securities and
Exchange  Commission.

For  the three-month period ended September 30, 2001 compared to the three-month
period  ended  September  30,  2000

For  the  three  months  ended September 30, 2001, the Company had a net loss of
$9,353 compared to a net loss of $150 during the comparable period of 2000.  The
increase  in  the  third quarter loss in 2001 as compared to the net loss during
the  same  quarter  in  2000  is  primarily  due  to  increased  general  and
administrative  expenses  associated  with the audit of its financial statements
and  the preparation and filing of Form 10-SB, "General Form for Registration of
Securities  of  Small  Business  Issuers,"  with  the  Securities  and  Exchange
Commission.

FINANCIAL  CONDITION  AND  LIQUIDITY

During  the nine-month period ended September 30, 2001, the Company used $24,326
of  cash  in  operating  activities  and  generated  $95,000 of cash through the
issuance  of  stock  in  a  private  placement  to certain accredited investors.
During  the  nine-month period ended September 30, 2001, payments of $8,272 were
made  to  a  related  party in satisfaction of advances and a note payable.  The
Company has no recurring revenue from operating activities and plans to fund its
future  operations  through  additional  sales  of  its  common  stock.











<PAGE>
                     MISSOURI RIVER AND GOLD GEM CORPORATION
                                   FORM 10QSB
                     For the period ended September 30, 2001

PART II


ITEM  1     LEGAL  PROCEEDINGS

     NONE

ITEM  2     CHANGES  IN  SECURITIES

     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

     NONE































<PAGE>
                     MISSOURI RIVER AND GOLD GEM CORPORATION
                                   FORM 10QSB
                     For the period ended September 30, 2001



                                   SIGNATURES




Pursuant  to  the  requirements  of  Section  13  or 15(b) of the Securities and
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its  behalf  by  the  undersigned,  thereunto  duly  authorized.



                     Missouri River and Gold Gem Corporation
                     ---------------------------------------
                                  (Registrant)


By:  /s/ Martyn A. Powell                    Date:  November 14, 2001
--------------------------------             ------------------------
Martyn A. Powell
President, Director and
Principal Financial Officer