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, 2000
                               ---------------------------

(  )     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.)

34 - 3387 King George Highway
Surrey, BC, Canada                                           V4P 1B7
----------------------------------------                ------------------
(Address of principal executive offices)                     (Zip Code)

                                  604-538-5995
                 -----------------------------------------------
               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, 2000
-----------------------------------             --------------------------------
Common Stock, $0.001 per share                              11,075,400


<PAGE>


                                      INDEX

                                                                            Page
PART 1.                                                                   Number
                                                                          ------

     ITEM 1.  Financial Statements.........................................    3

              Balance Sheet as at March 31, 2000...........................    4

              Statement of Operations

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

              Statement of Cash Flows

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

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


                                       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, 2000 and the statement of operations  and statement
of cash flow for the three  months  ended March 31,  2000,  for the three months
ended  March  31,  1999  and  for  the  period  from  March  4,  1999  (date  of
incorporation)  to March 31, 2000 and the statement of stockholders'  equity for
the period  from March 4, 1999 (date of  incorporation)  to March 31,  2000 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,  2000,  are not  necessarily
indicative of the results that can be expected for the year ending  December 31,
2000.


                                       3


<PAGE>





                           THE ZEBALLOS MINING COMPANY
                           (Exploration Stage Company)
                                  BALANCE SHEET
                      March 31, 2000 and December 31, 1999


<TABLE>
<CAPTION>
                                                                                        Mar 31   Dec 31
                                                                                        2000     1999
                                                                                        ---------------

<S>                                                                                     <C>               <C>
         ASSETS

         CURRENT ASSETS

                  Cash                                                                  $      9          $    685
                                                                                         -------           -------
                           Total Current Assets                                         $      9          $    685
                                                                                         -------           -------

         OTHER ASSETS

                  Mineral claims - Note 3                                                     -                  -
                                                                                         -------           -------

                                                                                        $      9          $    685
                                                                                          ------           -------

         LIABILITIES AND STOCKHOLDERS' EQUITY

         CURRENT LIABILITIES

                  Account payable - related parties                                     $  7,600           $ 6,000
                  Accounts payable                                                         2,080             2,250
                                                                                         -------           -------
                           Total Current Liabilities                                       9,680             8,250
                                                                                         -------           -------

         STOCKHOLDERS' EQUITY

                  Common stock

                           200,000,000 shares authorized, at $0.001
                           par value, 11,075,400 shares issued and
                           outstanding                                                    11,075            11,075

                  Capital in excess of par value                                          14,215            11,515

                  Deficit accumulated during the exploration stage                       (34,961)          (30,155)
                                                                                         --------          --------
                           Total Stockholders' Deficiency                                 (9,671)           (7,565)
                                                                                         --------          --------

                                                                                        $      9           $   685
                                                                                         -------           -------








</TABLE>
   The accompanying notes are an integral part of these financial statements.




                                       4


<PAGE>


<TABLE>
<CAPTION>

                           THE ZEBALLOS MINING COMPANY
                           (Exploration Stage Company)
                             STATEMENT OF OPERATIONS
               For the three Months Ended March 31, 2000 and 1999
                        And for the Period March 4, 1999
                   (Date of Inception) to March 31, 2000-05-16

                                                 Three Months
                                                     Mar 31      Mar 31     Mar 4/99 to
                                                      2000        1999      Mar 31, 2000
                                                     ------       ----      ------------
<S>                                              <C>            <C>         <C>
REVENUES                                         $        -     $    -      $        -

EXPENSES                                              4,806      4,421          34,961
                                                      -----      -----          ------

NET LOSS                                         $    4,806     $4,421      $ (34,961)
                                                      -----      -----        --------


NET LOSS PER COMMON SHARE

         Basic                                   $        -     $   -       $        -
                                                      -----     -----             ----


AVERAGE OUTSTANDING SHARES

         Basic                                   11,075,400     6,679,535   11,075,400
                                                 ----------     ---------   ----------



















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

</TABLE>


                                       5


<PAGE>


<TABLE>
<CAPTION>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)
                             STATEMENT OF CASH FLOWS
        For the three months Ended March 31, 2000, for the three months
                     March 31, 1999 And for the period from
              March 4, 1999 (Date of Inception) to March 31, 2000


                                                             For the Three        For the Three        From Inception
                                                             Months Ended         Months Ended               To
                                                             March 31, 2000       March 31, 1999       March 31, 2000
                                                             --------------       --------------       --------------
<S>                                                          <C>                  <C>                    <C>
     CASH FLOWS FROM

          Net loss                                           $      (4,806)       $      (4,421)         $    (34,961)

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

            Change in accounts payable                               1,430                     -                 9,680
            Capital contributions - expenses                         2,700                   900                11,700
                                                                     -----                   ---                ------


               Net Cash from Operations                              (676)               (3,521)              (13,581)
                                                                     -----               -------              --------

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

     CASH FLOWS FROM FINANCING
       ACTIVITIES

            Proceeds from issuance of common stock                      -                 13,540               13,590
                                                                  -------               --------               ------


          Net Increase in Cash                                       (676)                10,019                    9

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

          CASH AT END OF PERIOD                                 $       9         $       10,019         $          9
                                                                  =======                =======              =======

SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES

         Capital contributions - expenses                                         $       11,700
                                                                                         -------

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

</TABLE>


                                       6


<PAGE>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS


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.

         The Company was organized  for the purpose of acquiring and  developing
         mineral  properties.  At the report date mineral  claims,  with unknown
         reserves,  has been  acquired.  The  Company  has not  established  the
         existence of a  commercially  minable ore deposit and therefore has not
         reached  the  development   stage  and  is  considered  to  be  in  the
         exploration  stage (see Note 3).  Since its  inception  the Company has
         completed  Regulation D offerings of  11,025,400  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, 2000 the Company had a net operating loss carry forward of
         $34,961.  The tax  benefit  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 2021.

         Basic and Diluted Net Income(Loss) Per Share
         --------------------------------------------

         Basic net income  (loss) per share  amounts are  computed  based on the
         weighted  average number of shares  actually  outstanding.  Diluted net
         income (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.


                                       7


<PAGE>


                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                    NOTES TO FINANCIAL STATEMENTS (Continued)


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 June 30, 1999.

         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, mineral
         claims,  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)


3.       MINERAL CLAIM

         The Company has 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.

         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.

         The claims may be  retained  by the  Company  by  completion  of yearly
         assessment  work of  $1,800Cn  or by a payment  of  $1,800Cn.  The next
         assessment work is due in March 2001.

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.  There can be no  assurance  that the  management  will be
         successful in this effort.

                                       9