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              September 30, 1999
                               ------------------------------------------------

( )  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 October 24, 1999
 -----------------------------------        -----------------------------------
   Common Stock, $0.001 per share                        11,075,400





<PAGE>

                                      INDEX


<TABLE>
<CAPTION>

                                                                                                       Page
                                                                                                      Number
                                                                                                      ------
PART 1.

<S>              <C>                                                                                 <C>
         ITEM 1.  Financial Statements (unaudited).............................................         3

                           Balance Sheet as at September 30, 1999..............................         4

                           Statement of Operations
                              For the three  months ended  September  30, 1999
                                  and for the period  from March 4, 1999 (Date
                                  of Incorporation) to September 30, 1999......................         5

                           Statement of Changes in Shareholders' Equity
                              For the period from March 4, 1999 (Date
                                  of Incorporation) to September 30, 1999......................         6

                           Statement of Cash Flows
                              For the three  months ended  September  30, 1999
                                  and for the period  from March 4, 1999 (Date
                                  of Incorporation) to September 30, 1999......................         7

                           Notes to the Financial Statements...................................         8

         ITEM 2.  Plan of Operations...........................................................        11


PART 11           Signatures...................................................................        12
</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  September  30, 1999 and the  statement  of  operations  and
statement of cash flow for the three months ended September 30, 1999 and for the
period from March 4, 1999 (date of  incorporation) to September 30, 1999 and the
statement  of  stockholders'  equity for the period  from March 4, 1999 (date of
incorporation)  to  September  30,  1999 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 September 30, 1999, are not necessarily
indicative of the results that can be expected for the year ending  December 31,
1999.




                                       3
<PAGE>

                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                                  BALANCE SHEET

                               September 30, 1999

                      (Unaudited - Prepared by Management)

<TABLE>
<S>                                                                                         <C>
   ASSETS

   CURRENT ASSETS

        Bank                                                                                $             -
                                                                                                -----------

                                                                                            $             -
                                                                                                ===========

   LIABILITIES

         Bank overdraft                                                                                  13
         Accounts payable and accrued liabilities                                           $           725
                                                                                                -----------

                                                                                                        738
                                                                                                -----------

   STOCKHOLDERS' EQUITY

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

        Capital in excess of par value                                                                8,815

        Deficit accumulated during the development stage                                            (20,628)
                                                                                                -----------

              Total Stockholders' Equity                                                               (738)

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











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




                                       4
<PAGE>


                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                             STATEMENT OF OPERATIONS

        For the three months ended September 30, 1999 and for period from
             March 4, 1999 (Date of Inception) to September 30, 1999

                      (Unaudited - Prepared by Management)


<TABLE>
<CAPTION>
                                                                         For the Three              From Inception
                                                                         Months Ended                      To
                                                                         September 30, 1999         September 30, 1999
                                                                         ------------------         ------------------
<S>                                                                         <C>                        <C>
   SALES                                                                    $             -            $            -
                                                                              -------------               -----------

   GENERAL  AND  ADMINISTRATIVE  EXPENSES:

        Accounting and audit                                                         300                     2,850
        Bank charges and interest                                                     28                       148
        Consulting                                                                 2,200                     2,200
        Edgar filing fees                                                          1,119                     1,119
        Geology report                                                                 -                     1,200
        Incorporation costs written off                                                -                       670
        Legal                                                                      2,500                     2,500
        Management fees                                                            1,500                     3,500
        Office expenses                                                              420                       908
        Rent                                                                         900                     2,100
        Staking fees                                                                   -                       369
        Telephone                                                                    300                       700
        Transfer agent's fees                                                         24                     2,364
                                                                               ---------                  --------

    NET LOSS                                                                 $     9,291                 $  20,628
                                                                               =========                   =======



   NET LOSS PER COMMON SHARE

        Basic                                                                $    0.0008                 $   0.002
                                                                               =========                   =======


   AVERAGE OUTSTANDING SHARES

        Basic                                                                 11,075,400                  10,492,063
                                                                              ==========                  ==========
</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 CHANGES IN STOCKHOLDERS' EQUITY

              For the period from March 4, 1999 (Date of Inception)
                              to September 30, 1999

                      (Unaudited - Prepared by Management)


<TABLE>
<CAPTION>
                                                                    Common    Stock              Capital in
                                                                 ---------------------           Excess of     Accumulated
                                                                 Shares         Amount           Par Value       Deficit
                                                                 ------         ------           ---------       -------
<S>                                                              <C>            <C>              <C>             <C>
Balance March 4, 1999 (date of inception)                             -         $    -           $       -       $     -

Issuance of common shares for cash at
     $0.001 - March 14, 1999                                  5,050,000          5,050                   -             -

Issuance of common shares for cash at
     $0.001- March 16, 1999                                   6,000,000          6,000                   -             -

Issuance of common shares for cash at
     $0.10 - March 27, 1999                                      25,400             25               2,515             -

Capital contributions - expenses                                                                     6,300

Net operating loss for the period from
     March 4, 1999 to September 30, 1999                              -              -                   -       (20,628)
                                                             ----------       -----------        ----------       ----------

Balance September 30, 1999                                   11,075,400       $    11,075        $    8,815       $  (20,628)
                                                             ==========       ===========        ==========       ==========

</TABLE>











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



                                       6
<PAGE>




                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                             STATEMENT OF CASH FLOWS

      For the three months ended September 30, 1999 and for the period from
             March 4, 1999 (Date of Inception) to September 30, 1999

                      (Unaudited - Prepared by Management)


<TABLE>
<CAPTION>
                                                                    For the Three                From Inception
                                                                    Months Ended                            To
                                                                    September 30, 1999           September 30, 1999
                                                                    ------------------           ------------------
<S>                                                                    <C>                           <C>
     CASH FLOWS FROM
          OPERATING ACTIVITIES:

          Net loss                                                     $      (9,291)                $    (20,628)

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

               Increase in accounts payable                                      411                          725
               Capital contributions - expens                                  2,700                        6,300
                                                                            --------                     --------

                    Net Cash from Operations                                  (6,180)                     (13,603)
                                                                            --------                     --------

     CASH FLOWS FROM FINANCING
          ACTIVITIES:

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


          Net Increase (Decrease) in Cash                                     (6,180)                         (13)

          Cash at Beginning of Period                                          6,167                            -
                                                                            --------                     --------

          CASH AT END OF PERIOD                                        $         (13)               $         (13)
                                                                            ========                     ========
</TABLE>



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



                                       7
<PAGE>



                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                               September 30, 1999

                      (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.

         The Company was organized  for the purpose of acquiring and  developing
         mineral  properties.  A mineral claim, 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).

         The Company has  completed a Regulation D offering of 6,025,400  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

         The Company has elected a fiscal year ending  December 31, 1999 and has
         not completed an operating period and therefore has not filed an income
         tax return.  However,  the Company may incur an operating  loss for the
         period  ending  December 31, 1999 which will be available for carryover
         and applied  against future taxable income  resulting in a tax benefit.
         The  potential  tax benefit from any loss carry  forward has been fully
         offset by a valuation reserve because the use of any future tax benefit
         is doubtful since the Company has no operations.






                                       8
<PAGE>


                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                               September 30, 1999

                      (Unaudited - Prepared by Management)


2.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

         Loss per Share

         Loss per share  amounts  are  computed  based on the  weighted  average
         number of shares actually  outstanding  using the treasury stock method
         in accordance with FABS Statement No. 128.

         Cash and Cash Equivalents

         The Company  considers all highly liquid  instruments  purchased with a
         maturity,  at the time of purchase,  of less than three  months,  to be
         cash equivalents.

         Capitalization of Mineral Claim Costs

         Cost of  acquisition,  exploration,  carrying,  and  retained  unproven
         properties  are  expensed as  incurred.  Costs  incurred in proving and
         developing  a  property  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 mining  equipment are capitalized and depreciated over their useful
         life.

         Environmental Requirements

         Environmental requirements related to the mineral claims acquired (Note
         3) are unknown and  therefore  an estimate of any future cost cannot be
         made.

         Financial Instrument

         The carrying amount of financial instruments, being cash, is considered
         by management to be its standard fair value.

         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.  Actual  results
         could vary from the  estimates  that were  assumed in  preparing  these
         financial statements.




                                       9
<PAGE>



                           THE ZEBALLOS MINING COMPANY
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                               September 30, 1999

                      (Unaudited - Prepared by Management)


3.       ACQUISITION OF 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
         with an expiration date of March 1, 2000.

         The  claims may be  retained  by the  Company by making a yearly  lease
         payment  in the amount of CDN $1,800 on March 1, 2000 and CDN $3,600 on
         March 1, 2001.

         The  claims  have not been  proven  to have a  commercial  minable  ore
         reserve and  therefore  all costs for  exploration  and  retaining  the
         properties have been expensed.


4.       RELATED PARTY TRANSACTIONS

         Related parties acquired 45% of the common stock issued.

         The  officers  and  directors  of the  Company  are  involved  in other
         business  activities  and they may, in the future,  become  involved in
         additional business ventures which also may require their attention. If
         a specific business  opportunity  becomes  available,  such persons may
         face a conflict  in  selecting  between  the  Company  and their  other
         business  interests.  The  Company  has  formulated  no policy  for the
         resolution of such conflicts.


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 in the
         future.

         Management  recognizes  that,  if  it is  unable  to  raise  additional
         capital, the Company cannot be successful in its efforts.




                                       10
<PAGE>

--------------------------------------------------------------------------------
                           ITEM 2. PLAN OF OPERATIONS
--------------------------------------------------------------------------------

The  Company has  commenced  an  exploration  program on the Zeb Au Claim in the
Zeballos  mining camp which should be completed by the middle of November  1999.
Presently the exploration  program  consists of establishing a geochemical  grid
over  part of the claim  which  will be used for soil and rock  sampling  in the
spring of the year 2000.  With the possibility of snow in during the latter part
of  November,  the  exploration  program  will have to be  terminated  until the
spring.

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

The  Company  did not  have  sufficient  funds  on  hand to pay for the  present
exploration program and was advanced the money by one of the directors. The work
done on the Zeb Au claim will keep the claim in good  standing for another year.
It  is  anticipated  the  exploration  program  will  be  filed  with  the  Gold
Commissioner's  office  in the  early  part  of  December  and  applied  against
assessment work for the forthcoming year.

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

There are no operations at this time.





                                       11
<PAGE>




                                   SIGNATURES


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


                           THE ZEBALLOS MINING COMPANY
                                  (Registrant)



     October 24, 1999                            /c/ "Stacey Bligh"
     ----------------                      ----------------------------------
           Date                            Stacey Bligh - Secretary-Treasurer






                                       12