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UNITED STATES

FORM 10-QSB

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[ ]

Commission File Number 000-30965

KLONDIKE STAR MINERAL
CORPORATION

(Exact name of small
Business Issuer as specified in its charter)

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|**Delaware**                             | **91-1980708**                   
|---------------------------------------- | ---------------------------------
|(State or other jurisdiction of          | (IRS Employer Identification No.)
|incorporation or organization)           |                                  
|                                         |                                  
|2009 Iron Street                         |                                  
|**Bellingham, Washington**               | **98225**                        
|(Address of principal executive offices) | (Postal or Zip Code)             



Issuer's telephone number, including area code:

None

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

Check whether the issuer (1) 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 issuer was required to
file such reports), and (2) has been subject to such filing requirements for the
past 90 days

State the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date: 2,000,000 shares
of Series A, convertible, and 22,039,800 shares of common stock, both $0.0001
par value outstanding as of May 31, 2005.



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PART 1 - FINANCIAL INFORMATION

Item 1. Financial Statements

The accompanying unaudited financial statements have been prepared in
accordance with the instructions to Form 10-QSB and Item 310 (b) of Regulation
S-B, and, therefore, do not include all information and footnotes necessary for
a complete presentation of 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 three months ended May 31, 2005 are not necessarily
indicative of the results that can be expected for the year ending February 28,
2006.



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



1

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



2

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The accompanying condensed notes are an integral part of these
interim financials statements.

3

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The accompanying condensed notes are an integral part of these
interim financial statements

4

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KLONDIKE STAR MINERAL
CORPORATION

(An Exploration Stage
Company)

Condensed Notes to
the Financial Statements

May 31, 2005


NOTE 1 -DESCRIPTION OF BUSINESS



Klondike Star Mineral Corporation (hereinafter "the Company")
is engaged in mineral exploration in the Yukon Territory, Canada. The Company
was originally incorporated in 1999 under the laws of the State of Delaware. The
Company was also registered in the Yukon Territory, Canada effective June 22,
2004. The Company maintains offices in Bellevue, Washington and Whitehorse,
Yukon Territory.



The Company was originally incorporated as Cyberbiz, Inc.,
later changed its name to Urbanfind, Inc. and again in 2004 changed its name to
Klondike Star Mineral Corporation. The Company's fiscal year-end is the last
calendar day of February.



Historically, the Company has been principally engaged in an
internet-based business. Upon its acquisition of certain mining claims in
December 2003, the Company began a new exploration stage as a minerals
exploration company.



As the Company is in the exploration stage, it has not
realized any revenues from its planned operations.



NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



The foregoing unaudited interim financial statements have
been prepared in accordance with generally accepted accounting principles for
interim financial information and with the instructions to Form 10QSB and
Regulation S-B as promulgated by the Securities and Exchange Commission ("SEC").
Accordingly, these financial statements do not include all of the disclosures
required by generally accepted accounting principles in the United States of
America for complete financial statements. These unaudited financial statements
should be read in conjunction with the audited financial statements for the year
ended February 28, 2005. In the opinion of management, the unaudited interim
financial statements furnished herein include all adjustments, all of which are
of a normal recurring nature, necessary for a fair statement of the results for
the interim period presented. Operating results for the three-month period ended
May 31, 2005 are not necessarily indicative of the results that may be expected
for the year ending February 28, 2006.



This summary of significant accounting policies is presented
to assist in understanding the financial statements. The financial statements
and notes are representations of the Company's management, which is responsible
for their integrity and objectivity. These accounting policies conform to
accounting principles generally accepted in the U.S. and have been consistently
applied in the preparation of the financial statements.



Accounting Methods

The Company's financial statements are prepared using the
accrual basis of accounting in accordance with accounting principles generally
accepted in the United States of America.



Going Concern

As shown in the financial statements, the Company incurred a
net loss of approximately $650,000 for the three months ended May 31, 2005 and
has an accumulated deficit of approximately $33,400,000 since inception of the
Company's exploration stage (December 8, 2003). The Company currently has no
revenues and no operating mining properties.



These factors indicate that the Company may be unable to
continue in existence. The financial statements do not include any adjustments
related to the recoverability and classification of recorded assets, or the
amounts and classification of liabilities that might be necessary in the event
the Company cannot continue existence. The Company is actively seeking
additional capital and management believes that new properties can ultimately be
developed to enable the Company to continue its operations. However, there are
inherent uncertainties in mining operations and management cannot provide
assurances that it will be successful in its endeavors.



The Company's management believes that it will be able to
generate sufficient cash from public or private debt or equity financing for the
Company to continue to operate based on current expense projections of
$4,000,000 for fiscal 2006. The Company has approximately $1,637,000 in cash at
May 31, 2005.



NOTE 3 - PROPERTY AND EQUIPMENT



Capital assets are recorded at cost. Depreciation is
calculated using the straight-line method over three to five years. The
following is a summary of property, equipment, and accumulated depreciation at
May 31, 2005:

|                                                             |   | Cost     | Accumulated Depreciation
|------------------------------------------------------------ | - | -------- | ------------------------
|Depreciable Fixed
    Assets:                                |   |          |                         
|Leasehold improvements                                       | $ | 218,000  | $                       
|Movable structures                                           |   | 420,551  |                         
|Trailers                                                     |   | 40,484   |                         
|Trucks                                                       |   | 36,758   |                         
|All-terrain vehicles                                         |   | 53,843   |                         
|Equipment                                                    |   | 33,400   |                         
|Furniture and fixtures                                       |   | 11,308   |                         
|Computer equipment                                           |   | 20,708   |                         
|Computer software                                            |   | 8,356    |                         
|Pack horses                                                  |   | 14,573   |                         
|Total                                                        |   |          | $                       
|Less: Accumulated
    Depreciation                           |   | (98,666) |                         
|Total Depreciable
    Property, Plant and
    Equipment, net |   | 759,315  |                         
|Non Depreciable
    Fixed Assets:                            |   |          |                         
|Gold samples                                                 |   | 56,010   |                         
|Total Fixed Assets                                           | $ | 815,325  |                         



Total depreciation expense for the three months ending May
31, 2005 and May 31, 2004 is $25,878 and nil, respectively.



NOTE 4 - RELATED PARTY TRANSACTIONS



On occasion, the Company's shareholders pay corporate
expenses and/or provide services to the Company. These related party payables,
which are unsecured and non-interest bearing, are due on demand and totaled $nil
and $50,000 at May 31, 2005 and February 28, 2005, respectively.



Effective June, 2004, the Company signed an agreement for the
right of occupancy of a barn and property from one of the directors of the
Company and his spouse ("the Owner"), for the shelter of pack horses and an
office. The right of occupancy term is five years, renewable yearly thereafter.
Rent is $1 per month. Prior to the expiration of the right of occupancy, the
Owner may require the Company at the Company's sole cost and expense, to remove
any alterations, installations, additions or improvements made by the Company.
At the expiration of the lease, the Owner is obligated to pay to the occupier
the fair market value of the buildings less 75 % and shall be entitled to pay
such sum over a 20 year period in equal monthly installments without interest.



Leaseholds improvements, which total approximately $218,000
as of May 31, 2005, have been made to the barn and office.

NOTE 5 - PREFERRED STOCK



The Company is authorized to issue 20,000,000 shares of
$0.0001 par value preferred stock. Each preferred share is convertible to 10
common shares of common stock, non-cumulative and non-dividend bearing. The
Company's board of directors will determine the specific features of each
additional issuance of preferred shares. At May 31, 2005 and February 28, 2005,
the Company had 2,000,000 shares of preferred convertible stock issued and
outstanding.



NOTE 6 - COMMON STOCK



The Company is authorized to issue 80,000,000 shares of
$0.0001 par value common stock. Each holder of common stock has one,
non-cumulative vote per share on all matters voted upon by the shareholders. At
May 31, 2005 and February 28, 2005, the Company had 22,039,800 and 21,779,800
shares of common stock outstanding, respectively.



During the year ended February 29, 2004, the Company issued
3,800,000 shares at $1.25 per share of its common stock in connection with the
acquisition of certain mining claims in the Dawson Mining District of Yukon
Territory in Canada. Also, during the year ended February 29, 2004, the Company
sold in a private placement 1,040,000 shares of its common stock at $2.50 per
share for cash and subscriptions receivable of $2,600,000.



During the year ended February 29, 2004, certain Company
shareholders elected to forgive $31,500 of unsecured, long-term debt bearing
interest at 10% per annum. The shareholders also elected to forgive $5,756 of
accrued interest on the debt and $16,156 of accounts payable owed them. The
aggregate amount of $53,412 for shareholder forgiveness has been recorded as a
contribution of capital on the Company's statement of stockholders' equity.



During the year ended February 28, 2005, the Company sold
through private placements 1,090,000 shares of its common stock at $2.50 per
share for total net cash proceeds of $2,371,607.



During the year ended February 28, 2005 the Company issued
200,000 shares of common stock having an intrinsic value of $2.50 per share for
a total value of $500,000 as part of a mineral rights acquisition agreement.



During the three months ended May 31, 2005, the Company sold
through private placements 260,000 shares of its common stock at $2.50 per share
for a total net cash proceeds of $575,895.



From inception as an exploration stage company, the Company
has paid commissions on sale of stock in the amount of $419,280.



During the year ending February 28, 2005, the Company
recorded $125,000 in consulting fees for stock assignments given to Image Point
Design. (See Note 8.)



NOTE 7 - STOCK-BASED COMPENSATION AND STOCK OPTIONS



During the year ending February 29, 2004, the Company's board
of directors approved the Stock Compensation Plan to allow up to 2,800,000
shares of stock to be issued. This plan enables the Company to grant stock
options to directors, officers, employees and eligible consultants of the
Company. With a duration of 10 years, the plan may be modified without
shareholders- approval.



During the year ended February 28, 2005, the Company granted
options to purchase a total of 1,200,000 shares of common stock to its employees
and directors at $1.00 per option. The shares are exercisable at $2.50 per share
and vest straight line over 5 years. The Company recognized an employee
compensation expense of $6,660 during the three months ending May 31, 2005 for
all vested options. In accordance with Statement on Financial Accounting
Standard No. 123, the fair value of the options granted was estimated using the
Black-Scholes Option Price Calculation. The following assumptions were made to
value the stock options:





|Risk-free
    Interest Rate |  | 4.5%        
|--------------------------- |  | ------------
|Expected Life               |  | 5 years     
|Expected
    Volatility     |  | 12% to 20.2%





The Black-Scholes option valuation model was developed for
use in estimating the fair value of traded options, which are fully
transferable.



In addition, option valuation models require the input of
subjective assumptions including the expected stock price volatility. Because
the Company's employee stock options have characteristics significantly
different from those of traded options, and because changes in the subjective
input assumptions can materially affect the fair value estimate, in management's
opinion, the existing models do not necessarily provide a reliable single
measure of the fair value of its employee stock options.



Following is a summary of the status of the stock options
during the three months ended May 31, 2005:



|                              |  | Number of Shares Under Option |  |  | Weighted Average Exercise Price
|----------------------------- |  | ----------------------------- |  |  | -------------------------------
|Outstanding February 28, 2005 |  | 1,200,000                     |  |  | $2.50                          
|Granted                       |  | nil                           |  |  | nil                            
|Exercised                     |  | nil                           |  |  | nil                            
|Rescinded or expired          |  | nil                           |  |  | nil                            
|Outstanding at May 31, 2005   |  | 1,200,000                     |  |  | $2.50                          
|Exercisable at May 31, 2005   |  | 200,000                       |  |  | $2.50                          





NOTE 8 - COMMITMENTS AND CONTINGENCIES



Consulting Agreements

On December 28, 2004 the Company entered into agreement with
LSE AG to provide business development and investor relation services. During
the year ended February 28, 2005, the Company paid a retainer fee of $150,000
and an additional $50,000 against the contract. The Company has the intention to
distribute 1,400,000 share options at $1.00 to LSE AG. As of May 31, 2005, LSE
AG has not acquired any of the options.



On January 4, 2005, the Company entered into a consulting
agreement with Image Point Design ("IPD") to provide project management for
media and investor relation services. Under the terms of the agreement, the
Company will pay IPD up to a maximum of $81,000. Termination of the contract is
at the Company's sole discretion. In addition the Company is obligated to issue
100,000 shares at $2.50 per share as follows: 50,000 shares issued upon
signature of contract and 50,000 shares to be issued no earlier than June 1,
2005. At May 31, 2005, 50,000 shares at $2.50 per share were recorded as an
other liability-equity in the amount of $125,000 to reflect the liability for
the unissued shares.

During the quarter ended May 31, 2005, the Company acquired a
100% interest in placer leases in the Indian River and Montana Creek area, along
the southern edge of the Klondike gold fields. The agreement is subject to a
one-time payment of $28,300 for staking costs and a 10% royalty on future
production.

During the quarter ended May 31, 2005 the Company entered
into an agreement with a privately held company which received the first right
of refusal to purchase any gold produced by Klondike Star from the Klondike
Mining District. The right of first refusal is subject to Klondike Star
proceeding through exploration, pre-feasibility, final feasibility and building
of a producing mine on mineral claims in the Klondike Mining District. In
consideration for such rights, the privately held company is purchasing
1,000,000 shares of the Company's common stock at $2.50 per share in a private
placement memorandum in a series of staged subscriptions. Further, the company
shall receive the option to make further subscriptions for shares, subject to
the same terms and conditions, following completion of the subscription of the
first 1,000,000 shares, as follows:

1,000,000 shares at $3.50 by January 25, 2007 
1,000,000 shares at $4.50 by January 25, 2008
1,000,000 shares at $5.50 by January 25, 2009 
1,000,000 shares at $6.50 by January 25, 2010

The shares are subscribed for pursuant to the provisions of
Section 4(2) of the Securities Act of 1933 and Rule 506 of Regulation D
promulgated by the Securities and Exchange Commission. The offered shares are
restricted shares under the Securities Act of 1933 and the Exchange Act of 1934
and Rule 144 under the Securities Act of 1933.

During the quarter ended May 31, 2005, the Company entered
into an agreement to acquire up to 75% interest in claims covering gold bearing
quartz pebble conglomerate in the Indian River area, along the southern edge of
the Klondike gold fields. The agreement requires cash payments totaling $145,000
over 5 years and certain work commitments to acquire a 55% interest. Producing a
bankable feasibility study and arranging project financing can earn a further
20% interest in the project.



During the quarter ended May 31, 2005 the Company entered
into an agreement to acquire up to 75% interest in certain claims covering an
epithermal gold target in the Tintina Gold Belt, Yukon. The agreement requires
cash payments to Klondike Gold Corp. (TSXV:KG) totaling $200,000 over 4 years
and work commitments totaling $500,000 to acquire a 55% interest. Producing a
bankable feasibility study and arranging project financing can earn a further
20% interest in the project.



Compliance with Environmental Regulations

The Company's mining activities are subject to laws and
regulations controlling not only the exploration and mining of mineral
properties, but also the effect of such activities on the environment.
Compliance with such laws and regulations may necessitate additional capital
outlays, affect the economics of a project, and cause changes or delays in the
Company's activities.



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Item 2. Management Discussion and Analysis.

Klondike Star Mineral Corporation is a prospecting and mineral exploration
company conducting business in Yukon Territories. The principal asset of the
company is the right to earn majority interest in a mineral resource property
known as the Lone Star claims.



Klondike Star Mineral Corporation is pursuing a specific
strategy and approach. The Company intends to manage capital resources with a
focus on expenditures in work programs on carefully selected assets.



The primary focus of the company is a joint-venture on the
Lone Star claims. The Company has made sufficient payments to complete its
purchase of a 55% interest in those claims, and is now in control of development
on the Lone Star properties. The Company will consider additional projects.



The Company has opened a hard camp in close proximity to the
Lone Star properties and mill. The camp facility has allowed the operations to
be consolidated with administrative services.



The Company is currently implementing a drilling program on
the Lone Star properties expanding and upgrading the known resource at the Lone
Star Zone. The Company will also begin to outline the mineralization at the
Buckland and Nugget zones. A Bulk Sample Testing Facility, which is nearing
completion, will be particularly useful for accurately determining the gold
grade of zones where a "nugget effect" is apparent. In addition, the Company
intends to upgrade the status of several other potential target areas on our
properties or potential properties.



Klondike Star will further undertake a pre-feasibility of the
Lone Star mine to determine tonnage and grade for the purpose of making a
production decision.

PART 2 - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Changes in Securities

None

Item 3. Defaults upon Senior Securities

None

Item 4. Submission of Matters to a Vote of Security Holders

None

Item 5. Other Information

None

Item 6. Exhibits and Reports on Form 8-K

Exhibits:    31   
Rule 13a-14(a)/15d-14(a) Certifications

32    Section 1350

Reports on Form 8-K: No current reports were filed during the quarter
ended May 31, 2005:

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SIGNATURES

In accordance with the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.



KLONDIKE STAR MINERAL CORPORATION

Date  July 14, 2005

By:*/s/ Hans Boge*

Hans Boge, President

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