UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 10-Q


  (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 0-1764


                          AMERICAN NUCLEAR CORPORATION
             (Exact Name of Registrant as Specified In Its Charter)


          Colorado                                     83-0178547
  ------------------------------             --------------------
  (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

  <PAGE>
    <TABLE>
    <CAPTION>                                                     PAGE 2
                         AMERICAN NUCLEAR CORPORATION
                            STATEMENTS OF OPERATION
                    FOR THE THREE MONTHS AND SIX MONTHS ENDED
                    SEPTEMBER 30, 2001 AND SEPTEMBER 30, 2000
                                  (UNAUDITED)

                                 Three Months Ended      Nine Months Ended
                                   September 30            September 30
                                2001         2000         2001       2000
                                ------       ------       ----       ----
  <S>                           <C>          <C>          <C>        <C>
  NET LOSS BEFORE
    DISCONTINUED OPERATIONS     $      -0-   $      -0-   $     -0-   $      -0-

  REVENUE FROM DISCONTINUED
    OPERATIONS
    Reclamation Reimbursement          -0-       43,541      13,519       74,539
                                ----------   ----------     -------   ----------
    Total revenue from
    discontinued operations            -0-       43,541      13,519       74,539

  DISCONTINUED EXPENSES
    General and administrative       4,347        9,289      16,575       32,207
     Reclamation expense               -0-       24,343         -0-       63,313
     Interest income                  (453)        (317)     (1,465)        (932)
                                ----------   ----------     -------     --------
     Total discontinued
       expenses                      3,894       38,315      15,110       94,588

  NET INCOME (LOSS)             $   (3,894)  $    5,226      (1,591)     (20,049)

  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   $     0.00

  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
                         SEPTEMBER 30, 2001 AND DECEMBER 31, 2000


                                            September 30,     September 30,
                                                2001             2000
                                             (Unaudited)      (Unaudited)
                                            --------------    ------------
  <S>                                       <C>               <C>
  ASSETS
  Current assets:
    Cash                                    $    87,848       $     93,438
                                            -----------       ------------
      Total current assets                  $    87,848       $     93,438


  Other assets:
    Other                                         4,000                -0-


                                            -----------       ------------
      Total other assets                          4,000                -0-


  Total assets                              $    91,847       $     93,438
                                            ===========       ============


  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                       (12,897,956)       (12,896,365)
    Less cost of treasury stock                (629,126)          (629,126)
                                            -----------       ------------
      Common stockholders' equity                91,847             93,438


  Total liabilities and stockholders'
    equity                                  $    91,847       $     93,438
                                            ===========       ============
  </TABLE>






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                                                             PAGE 4
  <TABLE>
  <CAPTION>
                                 AMERICAN NUCLEAR CORPORATION
                                   STATEMENTS OF CASH FLOW
                      FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
                                         (UNAUDITED)


                                                    Nine Months Ended
                                                       September 30
                                                2001              2000
                                                ----------        ----------
  <S>                                           <C>               <C>
  Cash flows from discontinued operations:
    Net loss                                    $    (1,591)      $   (20,049)


  Adjustments to reconcile net loss to net
    cash used by operating activities:
    (Increase) Decrease in other assets              (4,000)           11,028
                                                -----------       -----------
    Total adjustments                                (4,000)           11,028
                                                -----------       -----------


    Net cash used in operating activities            (5,591)           (9,021)


  Net increase (decrease) in cash during the
    period                                           (5,591)           (9,021)
  Cash at the beginning of the period                93,438            46,457


  Cash at the end of the period                 $    87,847       $    37,436
                                                ===========       ===========
  </TABLE>






















   <PAGE>
                                                         PAGE 5

                         AMERICAN NUCLEAR CORPORATION
                        NOTES TO FINANCIAL STATEMENTS
                   FOR THE THREE MONTHS AND NINE MONTHS ENDED
                          SEPTEMBER 30, 2001 AND 2000
                                   (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 $87,847 and $93,438 at
  September 30, 2001 and December 31, 2000 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 discontinued the licensing requirements by transferring this
  responsibility to the Wyoming DEQ.

       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 or considerably more.  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




  <PAGE>
                                                         PAGE 6

  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 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.


       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, 2000.  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

       Effective May 9, 1994 the Company's common stock was removed from
  listing on the NASDAQ SmallCap Market.  There are no trading markets
  for the Company's common stock.  Salt Ridge Energy, Inc., a corporation
  owned by Mr. Salisbury, President, acquired 2,893,072 shares of common
  stock during June 1998 and now owns 37.6% of the Company's
  outstanding stock.  The Company is aware of occasional trades on the
  electronic bulletin board.  the basis of these transactions is unknown.


                     MANAGEMENTS DISCUSSION AND ANALYSIS OF
                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS

  Results of Operations

       The Company discontinued operations during May 1994.  The Company
  had no operating revenues during the period subject to this report or the
  earlier comparable period.  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 $16,575 and $4,347 for the
  nine and three months ended September 30, 2001 compared to $32,207 and
  $9,289 for the comparable periods ended September 30, 2000.

       Reclamation expenses were zero for the nine and three months ended
  September 30, 2001 and $63,313 and $29,343 for the comparable 2000
  periods.  The Company discontinued the monitoring on January 1, 2001.

       There was $1,465 interest income for the first nine months of 2001,
  compared to $932 for the comparable period ending September 30, 2000.
  The interest is due to the reimbursement of DOE funds to the Company.
  These funds will be used for ongoing expenses as long as possible.

      A net loss of $1,591 was recognized during the first nine months of
  2001 compared to a loss of $20,049 for the same period in 2000.  The
  losses are expected to remain in the range of $4,000 per quarter as long
  as the Company continues ongoing operations.


  Liquidity and Capital Resources

       The Company's working capital at September 30, 2001, was $87,847
  while at December 31, 2000 it was $93,438.  The decrease in working
  capital at September 30, 2001 was due to the Company's ongoing general
  and administrative expenses.  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




  <PAGE>
                                                       PAGE 8

  efforts were successful.  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 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 $46,000 from this program during 1999 and
  approximately $107,000 during 2000 and $13,000 during 2001.  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)
  November 15, 2001               By:  -----------------------------------
                                       William C. Salisbury
                                       President




                                      (signature)
  November 15, 2001               By:  -----------------------------------
                                       Dennis A. Eckerdt
                                       Secretary and Treasurer