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


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

For the quarterly period ended              March 31, 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                      0-26709
                       ----------------------------------------------

                           THE ZEBALLOS MINING COMPANY
         ------------------------------------------------------------
               (Exact name of registrant as specified in charter)


            Nevada                                        98-0201259
------------------------------------            ----------------------------
(State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization)                        Identification No.)

Suite 707 - 595 Hornby Street
Vancouver, BC, Canada                                       V6C 2E8
--------------------------------------------     ---------------------------
(Address of principal executive offices)                   (Zip Code)

                                  604-646-5626
         ---------------------------------------------------------------
               Registrant's telephone number, including area code

       -------------------------------------------------------------------
      (Former name, address, and fiscal year, if changed since last report)

         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), Yes [X] No [ ] and ( ) has been
subject to filing requirements for the past 90 days. Yes [X] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the last practicable date.

                    Class                      Outstanding as of March 31, 2001
     -----------------------------------       ---------------------------------
        Common Stock, $0.001 per share                    27,688,500


<PAGE>

                                      INDEX
<TABLE>
<CAPTION>

                                                                                                Page
PART 1.                                                                                        Number
                                                                                               ------

<S>                                                                                             <C>
         ITEM 1.  Financial Statements........................................................   3

                  Balance Sheet as at March 31, 2001 and December 31, 2000....................   4

                  Statement of Operations
                    For the three months ended March 31, 2001
                        and 2000 and for the period from March 4, 1999 (Date of
                        Incorporation) to March 31, 2001.....................................    5

                  Statement of Cash Flows
                    For the three months ended March 31, 2001 and 2000
                        and for the period from March 4, 1999 (Date of
                        Incorporation) to March 31, 2001.....................................    6

                  Notes to the Financial Statements..........................................    7

         ITEM 2.  Plan of Operations.........................................................   10


PART 11           Signatures.................................................................   11

</TABLE>

                                       2

<PAGE>

                         PART 1 - FINANCIAL INFORMATION

--------------------------------------------------------------------------------

                          ITEM 1. FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

The accompanying balance sheet of The Zeballos Mining Company (an exploration
stage company) at March 31, 2001 and December 31, 2000 and the statement of
operations and statement of cash flow for the three months ended March 31, 2001
and 2000 and for the period from March 4, 1999 (date of incorporation) to March
31, 2001 have been prepared by the Company's management and they do not include
all information and notes to the financial statements necessary for a complete
presentation of the financial position, results of operations, cash flows, and
stockholders' equity in conformity with generally accepted accounting
principles. In the opinion of management, all adjustments considered necessary
for a fair presentation of the results of operations and financial position have
been included and all such adjustments are of a normal recurring nature.

Operating results for the quarter ended March 31, 2001, are not necessarily
indicative of the results that can be expected for the year ending December 31,
2001.

                                       3
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                           (EXPLORATION STAGE COMPANY)
                                  BALANCE SHEET

                      MARCH 31, 2001 AND DECEMBER 31, 2000
                      (UNAUDITED - PREPARED BY MANAGEMENT)

<TABLE>
<CAPTION>
                                                                                                       2001                  2000
                                                                                                     --------              --------
<S>                                                                                                  <C>                   <C>
ASSETS

CURRENT ASSETS

        CASH                                                                                         $     84              $     --
                                                                                                     --------              --------
                    TOTAL CURRENT ASSETS                                                                   84                    --
                                                                                                     --------              --------

OTHER ASSETS

        MINERAL CLAIMS - NOTE 3
                                                                                                           --                    --
                                                                                                     --------              --------

                                                                                                     $     84              $     --
                                                                                                     ========              ========
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

         ACCOUNT PAYABLE - RELATED PARTIES                                                           $ 14,317              $ 11,300
         ACCOUNTS PAYABLE                                                                               6,051                 5,792
                                                                                                     --------              --------
                    TOTAL CURRENT LIABILITIES                                                          20,368                17,092
                                                                                                     --------              --------

STOCKHOLDERS' EQUITY

         COMMON STOCK
                     200,000,000 SHARES AUTHORIZED, AT $0.001
                     PAR VALUE, 27,688,500 SHARES ISSUED AND
                     OUTSTANDING                                                                       27,689                27,689

         CAPITAL IN EXCESS OF PAR VALUE                                                                 8,401                 5,701

         DEFICIT ACCUMULATED DURING THE EXPLORATION STAGE                                             (56,374)              (50,482)
                                                                                                     --------              --------
                     TOTAL STOCKHOLDERS' DEFICIENCY                                                   (20,284)              (17,092)
                                                                                                     --------              --------

                                                                                                     $     84              $     --
                                                                                                     ========              ========
</TABLE>

                     THE ACCOMPANYING NOTES ARE AN INTEGRAL
                       PART OF THESE FINANCIAL STATEMENTS


                                       4
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                           (EXPLORATION STAGE COMPANY)
                             STATEMENT OF OPERATIONS

               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000,
                        AND FOR THE PERIOD MARCH 4, 1999
                      (DATE OF INCEPTION) TO MARCH 31, 2001

                      (UNAUDITED - PREPARED BY MANAGEMENT)

<TABLE>
<CAPTION>
                                                                     THREE MONTHS            THREE MONTHS
                                                                        ENDED                    ENDED                FROM INCEPTION
                                                                       MARCH 31,                MARCH 31,               TO MARCH 31,
                                                                         2001                     2000                     2001
                                                                     ------------             ------------             ------------
<S>                                                                  <C>                      <C>                      <C>
REVENUES                                                             $         --             $         --             $         --
                                                                     ------------             ------------             ------------

EXPENSES

ACCOUNTING AND AUDIT                                                        1,150                      200             $     10,625
BANK CHARGES                                                                   50                       61                      397
CONSULTING                                                                     --                       --                    3,950
EDGAR FILING FEES                                                             425                      391                    2,993
GEOLOGY REPORT                                                                 --                       --                    1,200
INCORPORATION COSTS WRITTEN OFF                                                --                       --                      670
LEGAL                                                                          --                       --                    2,500
MANAGEMENT FEES                                                             1,500                    1,500                   12,500
OFFICE                                                                        312                      215                    2,230
RENT                                                                          900                      900                    7,500
STAKING FEES                                                                   --                       --                    3,194
TELEPHONE                                                                     300                      300                    2,500
TRANSFER AGENT                                                              1,255                    1,239                    6,115
                                                                     ------------             ------------             ------------

NET LOSS                                                             $     (5,892)            $     (4,806)            $    (56,374)
                                                                     ============             ============             ============


NET LOSS PER
COMMON SHARE
BASIC                                                                $         --             $         --
                                                                     ============             ============

AVERAGE OUTSTANDING
SHARES
BASIC                                                                  27,688,500               27,688,500
                                                                     ============             ============
</TABLE>



                   The accompanying notes are an integral part
                     of these unaudited financial statements.



                                       5
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                             STATEMENT OF CASH FLOWS

               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                 AND FOR THE PERIOD FROM MARCH 4, 1999 (DATE OF
                          INCEPTION) TO MARCH 31, 2001

                      (UNAUDITED - PREPARED BY MANAGEMENT)

<TABLE>
<CAPTION>
                                                                             FOR THE THREE        FOR THE THREE       FROM INCEPTION
                                                                              MONTHS ENDED         MONTHS ENDED             TO
                                                                             MARCH 31, 2001       MARCH 31, 2000      MARCH 31, 2001
                                                                             --------------       --------------      --------------
<S>                                                                             <C>                  <C>                 <C>
CASH FLOWS FROM
   OPERATING ACTIVITIES:

     Net loss                                                                   $ (5,892)            $ (4,806)           $(56,374)

     Adjustments to reconcile net loss to net cash provided by operating
          activities:

          Change in accounts payable - related
             parties                                                               3,017                1,600              14,317
          Change in accounts payable                                                 259                 (170)              6,051
          Capital contributions - expenses                                         2,700                2,700              22,500
                                                                                --------             --------            --------

             Net Cash Increase (Decrease) from
                     Operations                                                       84                 (676)            (13,506)
                                                                                --------             --------            --------


CASH FLOWS FROM INVESTING
   ACTIVITIES                                                                         --                   --                  --
                                                                                --------             --------            --------

CASH FLOWS FROM FINANCING
   ACTIVITIES:

          Proceeds from issuance of common stock                                      --                   --              13,590
                                                                                --------             --------            --------

     Net Increase (Decrease) in Cash                                                  84                 (676)                 84

     Cash at Beginning of Period                                                      --                  685                  --
                                                                                --------             --------            --------

     CASH AT END OF PERIOD                                                      $     84             $      9                  84
                                                                                ========             ========            ========

SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES

         Capital contributions - expenses                                                            $ 22,500
                                                                                                     ========
</TABLE>

         The accompanying notes are an integral part of these unaudited
                              financial statements.


                                       6
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2001

                      (Unaudited - Prepared by Management)

1.       ORGANIZATION

         The Company was incorporated under the laws of the State of Nevada on
         March 4, 1999 with the authorized common shares of 200,000,000 shares
         at $0.001 par value. On June 8, 2000 the Company completed a forward
         stock split of 2.5 shares for each outstanding share. This report has
         been prepared showing after stock split shares from inception.

         The Company was organized for the purpose of acquiring and developing
         mineral properties. At the report date mineral claims, with unknown
         reserves, had been acquired but these claims were allowed to expire on
         March 1, 2001. Therefore Company no longer any interest in the mineral
         rights of its claims (see Note 3).

         Since its inception the Company has completed Regulation D offerings of
         11,075,400 shares of its capital stock for cash.

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 March 31, 2001 the Company had a net operating loss carry forward of
         $56,374. The tax benefit of $16,912 from the loss carry forward has
         been fully offset by a valuation reserve because the use of the future
         tax benefit is undeterminable since the Company has no operations. The
         net operating loss will expire in 2022.

         Earnings (Loss) Per Share
         -------------------------

         Earnings (loss) per share amounts are computed based on the weighted
         average number of shares actually outstanding.


                                       7
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

                      (Unaudited - Prepared by Management)


2.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

         Amortization of Capitalized Mineral Claims Costs
         ------------------------------------------------

         Costs of acquisition, exploration, carrying, and retaining unproven
         properties are expensed as incurred. Costs incurred in proving and
         developing a commercially minable ore reserve ready for production are
         capitalized and amortized over the life of the mineral deposit or over
         a shorter period if the property is shown to have an impairment in
         value. Expenditures for mine equipment will be capitalized and
         depreciated over their useful lives.

         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.

         Comprehensive Income
         --------------------

         The Company adopted Statement of Financial Accounting Standard No. 130.
         The adoption of this standard had no impact on the total stockholder's
         equity on March 31, 2001.

         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.

         Financial Instruments
         ---------------------

         The carrying amounts of financial instruments, including cash, and
         accounts payable are considered by management to be their estimated
         fair values.

         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.


                                       8
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                           (Exploration Stage Company)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

                      (UNAUDITED - PREPARED BY MANAGEMENT)


3.       MINERAL CLAIM

         The Company acquired one 18 unit metric mineral claim known as the Zeb
         Au Claim located in the Zeballos mining camp near the town of Zeballos
         about 300 kilometres northwest of Victoria, British Columbia.

         On March 1, 2001, the Company allowed its mineral claim to lapse
         without either doing assessment work thereon or paying cash-in-lieu of
         assessment work to maintain the claims in good standing with the
         Ministry of Mines of British Columbia. The Company does not have any
         interest in the Zeb Au mineral claims and has no interest in any other
         mineral claims..

4.       RELATED PARTY TRANSACTIONS

         Related parties acquired 45% of the common stock issued.


5.       GOING CONCERN

         The Company will need additional working capital to be successful in
         its planned activities and continuation of the Company as a going
         concern is dependent upon obtaining additional working capital 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.




                                       9
<PAGE>

--------------------------------------------------------------------------------

                            ITEM 2. PLAN OF OPERATION

--------------------------------------------------------------------------------


Liquidity and Capital Resources
-------------------------------

The Company has limited cash on hand as at March 31, 2001 and therefore it is
unlikely that it can acquire another project for the Company until funds are
raised. Current funds on hand are not sufficient to pay the outstanding accounts
payable and therefore the directors and officers have had to advanced funds in
order to settle certain accounts.

The mineral property was allowed to lapse on March 1, 2001 thereby eliminating
the only asset the Company had. Management has not yet considered another
project for the Company although thoughts have been given to considering
non-mineral type projects. As at the balance sheet date no project has been
identified.

Results of Operations
---------------------

To date the Company has had no operations.






                                       10
<PAGE>

                                    SIGNATURE

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


                                           THE ZEBALLOS MINING COMPANY



              June 12, 2001                    /s/ "Christopher A. Paterson"
                                           -------------------------------------
                                                    Christopher A. Paterson
                                                     President and Director





                                       11