SECURITIES AND EXCHANGE COMMISSION

                      Washington, D.C.  20549

                             FORM 10-Q

             Quarterly Report Pursuant to Section 13 or 15(d) of
                    the Securities Exchange Act of 1934


For the Quarter Ended:         April 30, 1999
Commission File No. 0-9496
                            -------------------
                            GOLD STANDARD, INC.
                            -------------------

         (Exact name of registrant as specified in its charter)

               Utah                             87-0302579
 -------------------------------          ------------------------

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


Suite 712 Kearns Building, Salt Lake City, Utah          84101
-------------------------------------------------      ---------
   (Address of principal executive offices)            (Zip Code)

Registrant's telephone number, including area code     (801) 328-4452
                                                       --------------
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class         Name of each exchange on which registered

Common Stock, $.001 par value       Pacific Exchange, Inc.
Common Stock, $.001 par value       NASDAQ

Securities registered pursuant to Section 12(g) of the Act:

               Common Stock, par value  $.001 per share
               ----------------------------------------
                           (Title of class)

     Indicate by check mark whether 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 Registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.
Yes  X  No
    ---    ---

As of the close of the period covered by this report there were
outstanding 1,168,594 shares of Registrant's common stock, $.001 par
value per share.


























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                          PART I.  FINANCIAL INFORMATION



Item 1.  Financial Statements.
         --------------------









                      GOLD STANDARD, INC. AND SUBSIDIARIES

                  UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                       FOR INCLUSION IN QUARTERLY REPORT
                                ON FORM 10-Q




















                               April 30, 1999





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                   GOLD STANDARD, INC. AND SUBSIDIARIES
                       CONSOLIDATED BALANCE SHEETS
                   April 30, 1999 and October 31, 1998

                                 April 30, 1999     October 31, 1998
                                 --------------     ----------------
                                  (Unaudited)
        ASSETS

CURRENT ASSETS
   Cash and cash equivalents     $  1,451,567         $  1,940,615
   Certificates of deposit          1,289,243            1,252,723
   Accounts receivable                  6,992                4,312
   Accrued interest                     9,214                9,789
   Prepaid expenses                     1,513                4,094
                                 -------------        -------------
           TOTAL CURRENT ASSETS     2,758,529            3,211,533

PROPERTY AND EQUIPMENT
   Equipment and leasehold
     improvements                     106,448              131,956
                                 -------------        -------------
                                      106,448              131,956

OTHER ASSETS
   Investment in affiliate            351,943              351,943
   Deposits                             1,087                1,087
                                 -------------        -------------
                                      353,030              353,030
                                 -------------        -------------

                                 $  3,218,007         $  3,696,519
                                 =============        =============

     LIABILITIES AND EQUITY















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CURRENT LIABILITIES
   Accounts payable - trade      $     50,448         $     67,309
   Accrued liabilities                    460               18,518
   Income tax payable                     100                  100
                                 -------------        -------------
     TOTAL CURRENT LIABILITIES         51,008               85,927

STOCKHOLDERS' EQUITY
   Common Stock                         1,169                1,169
   Additional paid-in capital      13,197,456           13,197,456
   Accumulated deficit            (10,031,626)          (9,588,033)
                                 -------------        -------------
     TOTAL STOCKHOLDERS' EQUITY     3,166,999            3,610,592
                                 -------------        -------------
                                 $  3,218,007         $  3,696,519
                                 =============        =============


































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                         GOLD STANDARD, INC.
                 CONSOLIDATED STATEMENTS OF OPERATIONS
         Three and six month periods ended April 30, 1999 and 1998

                       Three months ended       Six months ended
                            April 30,               April 30,
                       ------------------       -----------------
                        1999        1998         1999       1998
                       ------      ------       ------     ------
                    (Unaudited) (Unaudited)  (Unaudited) (Unaudited)

INCOME FROM
  OPERATIONS         $          $            $            $

EXPENSES
   Depreciation         13,575        9,410       27,150      23,540
   Leasehold
    exploration and
    carrying costs     123,246       80,597      292,214     471,965
   General and
    administrative:
     Legal               4,219       17,819        7,680      20,408
     Other             110,489      102,758      190,926     184,025
                     ---------- ------------ ------------ -----------
NET LOSS FROM
     OPERATIONS       (251,529)    (210,584)    (517,970)   (699,938)

OTHER INCOME (EXPENSES)
   Interest income      32,803       29,146       72,166      78,945
   Miscellaneous income  1,992            -        2,210           -
   Gain (loss) on
     exchange                -      (10,000)           -     (10,000)
   Gain (loss) from
     investments             -     (101,409)           -    (101,409)
                     ---------- ------------ ------------ -----------

NET INCOME (LOSS)    $(216,734) $  (292,847) $  (443,594) $ (732,402)
                     ========== ============ ============ ===========

Net income (loss) per
  common share       $   (0.19) $     (0.25) $     (0.38) $    (0.63)
                     ========== ============ ============ ===========








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                         GOLD STANDARD, INC.
                 CONSOLIDATED STATEMENTS OF OPERATIONS
         Three and six month periods ended April 30, 1999 and 1998

                       Three months ended       Six months ended
                            April 30,               April 30,
                       ------------------       -----------------
                        1999        1998         1999       1998
                       ------      ------       ------     ------
                    (Unaudited) (Unaudited)  (Unaudited) (Unaudited)
CASH PROVIDED BY
 (USED IN) OPERATING
 ACTIVITIES
 Net income (loss)   $(216,734) $(292,847)   $(443,594)   $(732,402)
 Add (deduct) adjust-
   ments to cash basis:
     Depreciation       13,575      9,410       27,150       23,540
     Net exchange
      adjustment             -    793,500            -      793,500
     Decrease (increase)
       in:
       Accrued interest     13        (16)         575        8,702
       Prepaid expenses  1,290      2,773        2,581        4,993
       Accounts
        receivable      (1,148)         -       (2,680)           -
       Deposits              -      2,284            -        2,284
     Increase (decrease)
      in:
      Accounts payable    (833)   (34,400)     (16,860)     (58,927)
      Income tax payable     -       (200)           -          (50)
      Accrued liabilities  (10)       180      (18,058)        (200)
                     ---------- ----------   ----------   ----------
NET CASH PROVIDED BY
 (USED IN) OPERATING
 ACTIVITIES           (203,847)   480,684     (450,886)      41,440

CASH USED IN INVESTMENT
  ACTIVITIES
   Decrease (increase)
    in certificates
    of deposits        (15,198)    (4,526)     (36,520)     (17,935)
   Equipment purchased       -     (7,007)      (1,642)      (7,007)
   Decrease (increase)
    in of securities         -    240,333            -      252,998
   Increase in equity
    investments              -   (982,592)           -     (982,592)




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NET CASH USED IN
INVESTMENT ACTIVITIES  (15,198)  (753,792)     (38,162)    (754,536)
NET INCREASE (DECREASE)
 IN CASH              (219,045)  (273,108)    (489,048)    (713,096)
CASH BALANCE AT
 BEGINNING OF
 PERIOD              1,670,612  2,791,453    1,940,615    3,231,441
CASH BALANCE AT END
  OF PERIOD         $1,451,567 $2,518,345   $1,451,567   $2,518,345
                    ========== ==========   ==========   ==========








































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                   GOLD STANDARD, INC. AND SUBSIDIARIES
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    April 30, 1999 and October 31, 1998


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     The Company's accounting policies reflect industry practices and
     conform to generally accepted accounting principles.  The
     following policies are considered to be significant:

     Financial Statements
     --------------------
     The financial information provided in the Consolidated Balance
     Sheet for the year ended October 31, 1998, has been taken from
     the audited financial statements at that date.  In the opinion of
     management, all adjustments necessary to present fairly the
     financial position, results of operations and cash flow at April
     30, 1999, have been made.  All such adjustments were of a normal,
     recurring nature.

     Principles of Consolidation
     ---------------------------
     The accompanying consolidated financial statements at April 30,
     1999, include the accounts of Gold Standard, Inc., and its
     subsidiaries, Gold Standard South, Gold Standard Minas, S.A. and
     Tormin, S.A.  A former subsidiary, Pan American Motor Sports,
     Inc. (PAMS) (formerly Big Pony Gold, Inc.) is no longer included
     in the consolidated financial statements but is being reported as
     an equity investment.  As used herein, references to Gold
     Standard, Inc., the Registrant, or the Company refers to Gold
     Standard, Inc. and its consolidated subsidiaries.  All
     significant intercompany transactions are eliminated.

     Gold Standard South, a Utah corporation, was organized for the
     purpose of carrying on a property acquisition and gold
     exploration program in the country of Uruguay.  Gold Standard
     Minas was organized for the purpose of carrying on a gold
     exploration program in the country of Brazil.  Tormin S.A. holds
     certain mineral exploration concessions in Uruguay and is
     conducting exploration work on these properties.

     Investment in Mining Properties
     -------------------------------
     Prospecting and exploration costs incurred in the search for new





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     mining properties are charged to expense as incurred.  Direct
     costs associated with the development of identified reserves are
     capitalized until the related geological areas are either put
     into production, sold or abandoned.  As of April 30, 1999, there
     were no geological areas under production.

     Earnings (Loss) Per Share
     -------------------------
     Earnings (loss) per share of common stock is computed on the
     weighted-average number of shares outstanding during the period.

     Cash Equivalents
     ----------------
     For purposes of the statement of cash flows, the Company
     considers all highly liquid debt instruments and investments
     readily convertible into cash, or purchased with a maturity of
     three months or less, to be cash equivalents.


NOTE 2 - EQUIPMENT AND LEASEHOLD IMPROVEMENTS

     Equipment and leasehold improvements are stated at cost.
     Maintenance, repairs, and renewals which neither materially add
     to the value of the property nor appreciably prolong its life are
     charged to expense as incurred.  Gains or losses on dispositions
     of property and equipment are included in earnings.  Depreciation
     and amortization of property and equipment is provided on the
     straight-line method using the estimated lives shown below:

                                                     Years
                                                    -------
               Furniture and equipment                5-7
               Transportation equipment                5
               Leasehold improvements              lease term

     Amortization of leasehold improvements is calculated using the
     straight-line method over the term of the lease agreement.


NOTE 3 - INVESTMENT IN AFFILIATE

     During 1998 the Company changed its method of accounting for and
     reporting its investment in PAMS from the consolidated to the
     equity method due to the decline in their ownership interest from
     64.4% to 20%.  The Company adjusted the carrying value of the
     investment balance for the exchange of stock for assets,
     conversion of debt to equity, recognition of the cumulative



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     losses to be reported under the equity method of accounting, and
     the recognition of losses for the current year since the
     effective date of the change in entity.


NOTE 4 - MINING PROPERTIES

     The Company holds directly or through its subsidiary companies,
     mineral and exploration rights to property located in Western
     Utah, Southern Uruguay, Brazil and other South American
     locations.  All exploration costs associated with these
     properties have been charged to operations as incurred,
     consistent with the Company's accounting policies (see Note 1).
     No development costs have been capitalized on these properties
     through April 30, 1999.


NOTE 5 - STOCK WARRANTS

     In connection with issuance of its common stock, the Company has
     issued warrants to others for the purchase additional shares at
     specified prices in the future.  Unexercised warrants aggregate
     368,750 shares at April 30, 1999.  They carry a weighted average
     price of $24 per share and have a weighted average remaining life
     of 1.4 years.


NOTE 6 - WARRANTS ISSUED AS COMPENSATION

     The Company has issued compensatory stock warrants to officers,
     employees and consultants during the coarse of business.  No
     compensation expense has been recorded for these warrants.

     Reported and pro forma net loss and loss per share for the period
     ended April 30, 1999 are as follows:

             Net loss
                As reported               $ (443,594)
                Pro forma                 $ (407,156)

             Loss per share
                As reported                     (.38)
                Pro forma                       (.35)

     The pro forma effect on net loss may not be representative of the
     pro forma effect on net income or loss for future years because
     the SFAS No. 123 method of accounting for pro forma compensation
     expense has not been applied to warrants granted prior to January
     1, 1995.

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     The weighted-average fair values at date of grant for
     compensatory warrants were estimated using the Black-Scholes
     option pricing model, based on the following assumptions: (1) no
     expected dividend yields; (ii) an expected volatility rate of
     80%; and (iii) expected weighted average lives of 1.8 years.  The
     weighted-average risk-free interest rate applied was 6.20%.

     Stock warrant activity is summarized as follows:

                                                     Avg.
                                                   Exercise
                                         Shares      Price
                                        --------   --------
     Warrants outstanding
      beginning of period                50,000      $20.50
        Granted                               -           -
        Exercised                             -           -
        Canceled or expired                   -           -
                                        --------

     Warrants outstanding
      and exercisable,
      end of period                      50,000      $20.50
                                        ========

     The following table summarizes information about stock warrants
     outstanding and exercisable at April 30, 1999:


                  Exercise Price            Shares       Life
                  --------------            ------       ----
                      $20.00                43,750       .6 yr
                       24.00                 6,250      4.3 yrs
                                            ------

                                            50,000
                                            ======


NOTE 7 - RELATED PARTY TRANSACTIONS

     The Company has funded the majority of the operations of its
     subsidiaries Gold Standard South, Gold Standard Minas, and Tormin
     S.A. with unsecured non-interest bearing long term cash advances.
     As of April 30, 1999, the Company had receivables from these
     companies of $513,936, $1,618,737 and $232,615, respectively.
     All intercompany transactions have been eliminated in
     consolidation.


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NOTE 8 - COMMITMENTS

     To guarantee future reclamation commitments in Paraguay, the
     Company has obtained a standby letter of credit in the amount of
     $100,000. This letter of credit is secured with a $100,000
     certificate of deposit.

NOTE 9 - INCOME TAXES

     The Company has significant net operating loss and net capital
     loss carry forwards which should give rise to a deferred tax
     asset.  Because the Company has no assurance that the tax benefit
     from the net operating loss and net capital loss will ever be
     realized, a valuation allowance has been provided equal to the
     deferred tax assets.The amounts and expiration dates of net
     operating loss carry forwards and investment tax credits at April
     30, 1999 are detailed in the following summary:

                               Federal         State          Net
                           Net Operating   Net Operating    Capital
     Expiration Date             Loss           Loss           Loss
     ---------------       -------------   -------------  ---------
     October 31, 1999       $        --    $   614,409    $       --
     October 31, 2000                --             --       150,056
     October 31, 2002                --             --        74,928
     October 31, 2003         1,441,272             --       153,468
     October 31, 2004           675,277             --            --
     October 31, 2005         1,106,261             --            --
     October 31, 2006           545,495             --            --
     October 31, 2007           478,137             --            --
     October 31, 2009           613,656             --            --
     October 31, 2010           124,338        124,138            --
     October 31, 2012            63,410         63,210            --
     October 31, 2013           246,065        245,865            --
                            -----------     ----------     ---------
                            $ 5,293,911    $ 1,047,622    $  378,452

Item 2.  Management's Discussion and Analysis of Financial
         -------------------------------------------------
         Condition and Results of Operations.
         -----------------------------------

                          INTRODUCTION

     Gold Standard, Inc. and its subsidiaries (the Registrant) are
principally engaged in the acquisition, exploration, and if warranted,
development of oil and gas and gold mineralized properties.  Its
activities are concentrated, for the most part, in Uruguay, Brazil and
Paraguay.

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                      RESULTS OF OPERATIONS

     No revenue was generated through operations by the Registrant
during the three and six month periods ended April 30, 1999 and 1998
and it is not expected that any operating revenue will be generated
during 1999.

     The Registrant's operating activities have been solely
exploration related and have been concentrated on their Uruguay,
Brazil, and Paraguay properties.  Exploration related expenses for the
six month period ended April 30, 1999 were $292,214 ($471,965 for the
three month period ended April 30, 1998).  Exploration costs for the
Registrant?s Paraguay and Brazil properties have remained constant,
however expenses for the Uruguay property have decreased
significantly, contributing to the overall decrease in exploration
expenses during the current year.  Exploration expenses are expected
to remain at approximately the same level for the remaining six months
of the current year.

     The Registrant's general and administrative expenses, excluding
legal expenses totaled $190,926 for the six month period ended April
30, 1999 ($184,025 for the six month period ended April 30, 1998).
The two most significant general and administrative expense categories
during the six month period ended April 30, 1999 were (a) professional
and consulting fees $58,453 ($57,738 in 1998) and (b) wages and
salaries $78,000 ($68,000 in 1998).   The balance of general and
administrative expenses includes office supplies and expenses, office
rent, travel, etc.

     The Registrant's management has been conscientious in striving to
control general and administrative expenses.  With the exception of
professional and consulting fees which should decrease, general and
administrative expenses are expected to remain at approximately the
same level for the remaining six months of the current year.

                   LIQUIDITY AND CAPITAL RESOURCES

     In the absence of income from operations the Registrant will
continue to rely on funds received in prior years for its operations.
These funds include royalty revenues, lawsuit settlements, equity
funding, and proceeds from sales of securities.  The Registrant has no
immediate plans to seek significant additional funding from any of
these sources during 1999.

     The Registrant has no material capital commitments or agreements
which would require significant outlays of capital during the
remaining six months of the year.

     With the exception of professional and consulting fees which

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should decrease, expenses in the remaining six months of 1999 should
remain close to the level during in the first six months of the year.
In the short term, the Registrant has sufficient cash reserves to fund
operations.  In the long-term there can be no assurance that cash on
hand will be sufficient for all operating costs.  However, if
necessary the Registrant will look to the issuance of additional
equity capital.  Based on past experience, the Registrant believes it
has the ability to generate additional funds as needed.


                           INFLATION

     The impact of inflation on the Registrant's operations will vary.
The future price of gold and the level of future interest rates could
directly effect the Registrant's future operating revenue.

     Serious increases in inflation could increase general and
administrative expenses for the Registrant and make it difficult to
remain within budget.  However, management does not expect any
material increases in the inflation rate during the near future.


                  ENVIRONMENTAL RULES AND REGULATIONS

     The Registrant is not aware of any noncompliance with
environmental rules and regulations, nor has the Registrant been cited
by any local, state or national agency either in the United States or
South America for noncompliance with environmental rules and
regulations.

     The Registrant has obtained a standby letter of credit in the
amount of $100,000 which is pledged as security against future
potential reclamation costs of mineral properties under exploration in
Paraguay.  Furthermore, the Registrant is not aware of any potential
reclamation costs.  Except for the above, the Registrant has no actual
or potential involvement in environmental remediation activities.


                               YEAR 2000

     Gold Standard has addressed its requirements regarding Year 2000
issues, which generally refers to the inability of hardware, software,
and control systems to correctly identify two digit references to
specific years, beginning with the year 2000.  The Company has minimal
reliance on computer systems that produce financial information.

     Although Gold Standard believes that its review will adequately
address Year 2000 issues and prevent significant business disruptions,


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there can be no assurances that compliance-related failures will not
occur.  Such compliance-related failures, including those of material
third-party suppliers and financial institutions in South America, could
result in temporary delays in Gold Standard's ability to maintain its
operations.  Contingency plans are being developed to mitigate any such
temporary delays.  However, if such delays occur, they are not reasonably
likely to have a material adverse effect on Gold Standard's financial
condition or results of operations.

            PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS.  Not Applicable

ITEM 2.     CHANGES IN SECURITIES.  Not Applicable

ITEM 3.     DEFAULTS UPON SENIOR SECURITIES.  Not Applicable

ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
            No items were presented for a vote of security holders during
            the period ended April 30, 1999.

ITEM 5.     OTHER INFORMATION.  Not Applicable

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K.

      (a)   List of Exhibits

            27.0     Financial Data Schedule

      (b)   Reports on Form 8-K

            Not applicable


















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                             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.


                                 Gold Standard, Inc.


Date   8 June 1999               By:/s/ Scott L. Smith


                             Exhibit Index

Exhibit No.    Description
------------   -----------
   27          Financial Data Schedule.
































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