UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
  
                                   FORM 10-Q
  
  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
  Exchange Act of 1934
  
  (Mark One)
  
  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
      EXCHANGE ACT OF 1934
  
  FOR THE QUARTERLY PERIOD ENDED June 30, 1997
  
  ( ) 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 0-1764
  
  
                          AMERICAN NUCLEAR CORPORATION
             (Exact Name of Registrant as Specified In Its Charter)
  
  
          Colorado                                          83-0178457
  ------------------------------                       --------------------
  (State or other jurisdiction of                         (I.R.S. Employer
  incorporation or organization)                        Identification No.)
  
                        P. O. Box 2713
                        Casper, Wyoming                       82602
            (Address of principal executive offices)       (Zip code)
  
  Registrant's telephone number, including area code:  (307) 265-7912
  
       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 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 share outstanding of each of the issuer's
  classes of common stock, as of the close of the period covered by this
  report.
  
      4 cents par value common stock:  7,696,739 shares
  
  
  
  
  
  This report consists of 9 pages including one page constituting the cover
    page.<PAGE>
PAGE
  <TABLE>
  <CAPTION>                                                     PAGE 2
                        AMERICAN NUCLEAR CORPORATION
                          STATEMENTS OF OPERATION
                         FOR THE THREE MONTHS ENDED
                       JUNE 30, 1997 AND JUNE 30, 1996
                                (UNAUDITED)

                                    Three Months Ended           Six Months Ended
                                          June 30                    June 30
                                  1997           1996         1997           1996
                                  ------         ------       ------         ------
<S>                               <C>            <C>          <C>            <C>
NET LOSS BEFORE DISCONTINUED
  OPERATIONS                      $      -0-    $      -0-    $      -0-     $      -0-

REVENUE FROM DISCONTINUED
   OPERATIONS 
   Reclamation Reimbursement             -0-           -0-        21,048            -0-
                                  ----------    ----------    ----------     ----------
   Total revenue from 
    discontinued operations              -0-           -0-        21,048            -0-

DISCONTINUED EXPENSES
   General and administrative         15,992        12,249        28,798         19,498
    Reclamation expense               11,636        18,621        19,722         36,740
    Interest income                   <2,221>         <779>       <2,221>        <1,558>
                                  ----------    ----------    ----------     ----------
    Total discontinued expenses       25,407        30,091        46,299         54,680

NET INCOME (LOSS)                 $  <25,407>   $  <30,091>      <25,251>       <54,680>


PER SHARE:

NET PROFIT (LOSS) BEFORE
  DISCONTINUED OPERATIONS PER
  SHARE                           $    <0.00>   $    <0.00>   $    <0.00>    $    <0.00>

DISCONTINUED OPERATIONS PER
  SHARE NET PROFIT (LOSS)         $    <0.00>   $    <0.00>   $    <0.00>    $    <0.01>

WEIGHTED AVERAGE NUMBER OF
  SHARES OUTSTANDING               7,696,739     7,696,739     7,696,739      7,696,739

DIVIDENDS PER SHARE               $     0.00    $     0.00    $     0.00     $     0.00
</TABLE>


















<PAGE>
                                                               PAGE 3
<TABLE>

<CAPTION>
                            AMERICAN NUCLEAR CORPORATION
                                   BALANCE SHEETS
                         June 30, 1997 and December 31, 1996

                                             June 30,        Dec. 31,
                                              1997             1996
                                           (Unaudited)      (Unaudited)
                                          --------------    ---------------
<S>                                       <C>               <C>
ASSETS
Current assets:
  Cash                                    $   132,181       $    154,138
                                          -----------       ------------
    Total current assets                  $   132,181       $    154,138

Other assets:
  Other                                        99,406            102,700

                                          -----------       ------------
    Total other assets                         99,406            102,700

Total assets                              $   231,587       $    256,838
                                          ===========       ============


LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Trade accounts payable                          -0-                -0-
  Other current liabilities                       -0-                -0-
                                          -----------       ------------
    Total current liabilities                     -0-                -0-

Common Stockholders' equity:
  Common stock                                314,080            314,080
  Additional paid-in capital               13,304,849         13,304,849
  Retained earnings                       <12,758,216>       <12,732,965>
  Less cost of treasury stock                <629,126>          <629,126>
                                          -----------       ------------
    Common stockholders' equity               231,587            256,838

Total liabilities and stockholders'
  equity                                  $   231,587       $    256,838
                                          ===========       ============
/TABLE
<PAGE>
PAGE
                                                           PAGE 4
<TABLE>
<CAPTION>
                               AMERICAN NUCLEAR CORPORATION
                                 STATEMENTS OF CASH FLOW
                     FOR THE SIX MONTHS ENDED June 30, 1997 AND 1996
                                       (UNAUDITED)

                                                    Six Months Ended
                                                         June 30
                                                 1997              1996
                                                 ----------        ----------
<S>                                              <C>               <C>
Cash flows from discontinued operations:
  Net loss                                       $   <25,251>      $   <54,680>


Adjustments to reconcile net loss to net
  cash used by operating activities:
  (Increase) Decrease in other assets                  3,294            56,185
                                                 -----------       -----------
  Total adjustments                                  <21,957>           56,185
                                                 -----------       -----------

  Net cash used in operating activities              <21,957>            1,505

Net increase (decrease) in cash during the
  period                                             <21,957>            1,505

Cash at the beginning of the period                  154,138             3,974

Cash at the end of the period                    $   132,181       $     5,479
                                                 ===========       ===========
/TABLE
<PAGE>
  PAGE
                                                       PAGE 5
  
                            AMERICAN NUCLEAR CORPORATION
                           NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS AND SIX MONTHS ENDED
                              JUNE 30, 1996 AND 1995
                                   (UNAUDITED)
  
                    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  
  Basis of Presentation
  
       Liquidation Basis
  
       The accompanying financial statements have been prepared on a
  liquidation basis, which recognized the realization of assets and the
  satisfaction of a portion of the liabilities.  The Company's current
  assets exceeded its current liabilities by $132,181 and $154,138 at June
  30, 1997 and December 31, 1996 respectively.  During 1994 the Company
  discontinued operations due to lack of operating capital.  For financial
  reporting purposes, the Company has offset contractual liabilities
  totaling $392,000.  These liabilities were recognized as income because
  the Company has no means of repaying the obligations under liquidation
  basis accounting.  The remaining Company cash deposits are being utilized
  to maintain compliance as long as possible with U.S. Nuclear Regulatory
  Commission (NRC) license requirements pertaining to the Company's uranium
  mining reclamation site.  The Company expects to be able to continue in
  compliance with the licensing requirements through 1999. 
  
       The state of Wyoming declared the Company in default of its
  reclamation obligations when the Company terminated its business
  operations in May 1994.  Subsequently the reclamation bond fund of
  $3,213,255 was acquired by the Wyoming DEQ through forfeiture
  proceedings.  The state of Wyoming has consented to perform certain
  reclamation obligations, but has declined to assume the NRC license and
  the associated obligations.  The reclamation requirements have changed to
  require more work since the bond forfeiture, and the cash requirements to
  continue reclamation have increased by an undetermined amount.  There is
  the potential of a cost overrun in the range of $3 million.  The Company
  has not recognized a contingent liability for this amount because the
  Wyoming DEQ and NRC have not agreed upon a final reclamation plan upon
  which to base a cost estimate.  By state of Wyoming statute, the Company
  is liable for any cost overruns. 
  
       The Company remains liable for completion of its reclamation
  obligations even though it does not have enough assets with which to
  complete those obligations.  The NRC has served the Company with notice
  that the Company's deliberate abandonment of its reclamation site would
  constitute an intentional violation of the Atomic Energy Act of 1954 and
  could subject the Company to NRC enforcement actions and criminal
  sanctions.  The Company is complying with a NRC order to maintain and
  comply with the terms of its NRC license.  Further, the Company has an
  agreement with the Wyoming DEQ to maintain its corporate existence in
  order to receive Title X reclamation reimbursement funds from the U.S.
  Department of Energy and transfer agreed upon amounts to the Wyoming DEQ. 
  The Company intends to monitor its reclamation site for as long as
  possible in order to comply with the requirements of its license.  For
  these reasons, the Company is unable to dissolve.  The Company has no
  intention of entering into other businesses or continuing its limited
  operations beyond the time when it has fulfilled its obligations under
  the NRC license and those required by the state of Wyoming. 
  
  
  
  
  
  PAGE
                                                       PAGE 6
  
  
       Interim Financial Statements
  
       The accompanying unaudited consolidated financial statements have
  been prepared in accordance with generally accepted accounting principles
  for interim financial information and with the instructions for Form 10-Q
  and Rule 10-01 of Regulation S-X.  Accordingly, they do not include all
  of the information and footnotes required by generally accepted
  accounting principles for complete financial statements.  The
  accompanying statements should be read in conjunction with the unaudited
  financial statements included in the Company's Report on Form 10-K for
  the year ended December 31, 1996.  In the opinion of management, all
  adjustments (consisting only of normal recurring accruals) considered
  necessary for a fair presentation have been included.
  
  
  Per Share Amounts
  
       Earnings per share calculations are computed on the weighted average
  number of common shares outstanding during the respective periods. 
  Shares under option and warrants have been disregarded because their
  effect is anti-dilutive.
  
  
  Discontinuance of Operations
  
       Management began seeking a purchaser for its mining properties in
  the third quarter of 1993.  While potential purchasers continued to
  express interest, the Company did not receive any offer greater than the
  amount of the debt that was secured by the mortgage against the
  properties.  Inability to sell the mining properties, depletion of
  capital and lack of revenues deprived the Company of operating capital. 
  The Company determined to discontinue operations during May 1994 and to
  liquidate its miscellaneous property and to pay and discharge its current
  liabilities and other expenses associated with an orderly closing of
  business operations.  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  PAGE
                                                       PAGE 7
  
  
  
  Marketability of Common Stock on NASDAQ Small Cap Market
  
       Effective May 9, 1994 the Company's common stock was removed from
  listing on the NASDAQ Small Cap Market.  There are no trading markets for
  the Company's common stock.   
  
  
                     MANAGEMENTS DISCUSSION AND ANALYSIS OF
                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  
  Results of Operations
  
       The Company discontinued operations during May 1994.  There were no
  operating revenues or operating losses reported during the first two
  quarters of 1997 or 1996.  See the "Discontinuance of Operations" and the
  "Liquidity and Capital Resources" sections in this report regarding
  additional information about the Company's cessation of operations.
  
       General and administrative expenses were $15,992 and $28,798 for the
  three and six months ended June 30, 1997 compared to $12,249 and $19,498
  for the periods ended June 30, 1996.  This represents increases of 30%
  and 47% for the three and six months ended June 30, 1997 from the
  comparable 1996 periods.  The increase was due to the increased activity
  between the Company, the NRC and Wyoming DEQ.
  
       Reclamation expenses of $19,722 and $36,740 for the six months ended
  June 30, 1997 and 1996 were recognized because of the continuing
  reclamation work of the Company.  These costs represent the ongoing costs
  of monitoring the Company's mill site during reclamation. 
  
       There was $2,221 interest income for the first half of 1997 compared
  to $1,558 for the six month period ending June 30, 1996.  The increase is
  due to the reimbursement of DOE funds to the Company.  These funds will
  be used to monitor the reclamation site. 
  
       A net loss of $25,251 was recognized during the first half of 1997
  compared to a $54,680 loss for the same period in 1996.  The losses are
  expected to remain in the range of $25,000 per quarter as long as the
  Company continues to receive some of the reclamation reimbursements for
  continued monitoring of the reclamation site. 
  
  
  Liquidity and Capital Resources
  
       The Company's working capital at June 30, 1997 was $132,181, while
  at December 31, 1996 it was $154,138.  The decrease in working capital at
  June 30, 1997 was due to the ongoing cost of limited operations.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  PAGE
                                                       PAGE 8
  
  
  
  
       During May 1994, the Company discontinued operations because of its
  lack of funds.  Before that decision was made, the Company attempted to
  obtain additional loans, raise equity funds through a private placement
  of its common stock, secure byproduct disposal contracts, or sell its
  mineral properties.  None of these efforts were successful.  These
  financial statements are prepared on the basis that the mineral
  properties were foreclosed when the Company did not pay the mortgage due
  June 30, 1994.  The foreclosure sale actually occurred in 1995.  In
  addition, the Wyoming Department of Environmental Quality (DEQ) declared
  forfeiture of the $3.2 million reclamation bond fund to the DEQ to be
  used by the DEQ for completing reclamation of the Company's Gas Hills
  mill site.  The total cost of the reclamation work will not be known for
  many years, and the funds held by the DEQ are not expected to cover all
  the expenses.  The Company remains the licensee and owner of the
  reclamation site, and the Company will not be released from the
  obligations of reclamation that are imposed by the license until
  reclamation work is completed and accepted by the regulatory agencies. 
  The Company has applied, under the federal program administered by the
  U.S. Department of Energy (DOE), for reimbursement of some of the
  reclamation work it has previously performed to clean up its mining and
  milling site.  The DOE program has been funded by Congress and money has
  been allocated for the reimbursements.  The Company received
  approximately $229,000 from this program during the last quarter of 1995
  and approximately $176,000 during the third quarter of 1996.  If Congress
  continues funding this Title X program, of which there is no assurance,
  the Company may receive additional DOE reimbursements during 1997.  Under
  the prevailing law and the terms of the order of the U.S. Nuclear
  Regulatory Commission that directs the Company to continue to reclaim and
  monitor its reclamation site, the funds and any future funds that could
  be received under this program will be applied to ongoing monitoring and
  reclamation obligations over the next several years, including payments
  to the Company's independent contractors to perform such services.  None
  of the money will be applied to claims of creditors, and no funds will be
  available for distribution to shareholders because the reclamation
  obligations are projected to substantially exceed the funds that become
  available.  The DEQ has entered into an agreement with the Company
  providing that the state will not bring a deficiency action in court if
  the Company transfers Title X funds to the state to be applied to the
  deficiency for use by the state to perform reclamation.  The Tennessee
  Valley Authority (TVA), which had asserted a right to the funds based on
  its 1984 contract with the Company, released the Company from such claims
  due to an agreement between TVA and the state.  The agreement between the
  Company and DEQ provides that the Company and DEQ will use the DOE Title
  X funds toward monitoring and reclamation of the mill site in accordance
  with the NRC license.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  PAGE
                                                       PAGE 9
  
  
  
  
                                SIGNATURES
  
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on their behalf by
  the undersigned thereunto being authorized.
  
                                     AMERICAN NUCLEAR CORPORATION
                                     Registrant
  
  
  
                                      (signature)
  August 12, 1997               By:  -----------------------------------
                                     William C. Salisbury
                                     President
  
  
  
                                      (signature)
  August 12, 1997               By:  -----------------------------------
                                     Dennis A. Eckerdt
                                     Secretary and Treasurer