UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

         [X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended January 31, 2003

         [ ]     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: 001-08397

                               GOLD STANDARD, INC.
        (Exact name of small business issuer as specified in its charter)

         UTAH                                               87-0302579
--------------------------                           -------------------------
(State or other jurisdiction                             (IRS Employer
   of incorporation or                                  Identification No.)
        organization)

          136 South Main Street, Suite 712, Salt Lake City, Utah 84101
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                 (801) 328-4452
                                 --------------
                           (Issuer's telephone number)

                                 Not Applicable
                                 --------------
             (Former name, former address and former fiscal year, if
                           changed since last report.)

         The number of shares of the issuer's common stock outstanding as of
March 14, 2003, is 1,269,885 shares.


<PAGE>
                          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-QSB


Consolidated Balance Sheet

Consolidated Statements of Operations

Consolidated Statements of Cash Flows

Notes to Consolidated Financial Statements




                                January 31, 2003


                                       2
<PAGE>

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                      January 31, 2003 and October 31, 2002
<TABLE>
<CAPTION>


                                                                        January 31, 2003             October 31, 2002
                                                                   ---------------------------   -------------------------
                                                                          (Unaudited)
                 ASSETS
<S>                                                                <C>                           <C>
CURRENT ASSETS
     Cash and cash equivalents                                     $                  754,775    $                893,021
     Accounts receivable                                                                  100                         100
     Prepaid expenses                                                                   3,916                       7,369
                                                                   --------------------------    ------------------------
                 TOTAL CURRENT ASSETS                                                 758,791                     900,490

PROPERTY AND EQUIPMENT
     Equipment and leasehold
       improvements                                                                    14,658                      15,730
                                                                   --------------------------    ------------------------
                                                                                       14,658                      15,730

OTHER ASSETS
     Available for sale securities                                                    283,616                     283,616
                                                                   --------------------------    ------------------------
                                                                                      283,616                     283,616
                                                                   --------------------------    ------------------------

                                                                   $                1,057,065    $              1,199,836
                                                                   ==========================    ========================

                 LIABILITIES AND EQUITY

CURRENT LIABILITIES
     Accounts payable - trade                                      $                    1,958    $                  2,406
     Accrued liabilities                                                                  647                         647
     Income tax payable                                                                   100                         100
                                                                   --------------------------    ------------------------
                 TOTAL CURRENT LIABILITIES                                              2,705                       3,153

STOCKHOLDERS' EQUITY
     Common stock                                                                       1,270                       1,270
     Additional paid-in capital                                                    13,314,438                  13,314,438
     Other comprehensive income                                                       189,951                     189,951
     Note receivable from related party
        for stock issued                                                             (138,010)                   (137,270)
     Accumulated deficit                                                          (12,313,289)                (12,171,706)
                                                                   --------------------------    ------------------------
                 TOTAL STOCKHOLDERS' EQUITY                                         1,054,360                   1,196,683
                                                                   --------------------------    ------------------------
                                                                   $                1,057,065    $              1,199,836
                                                                   ==========================    ========================
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       3
<PAGE>

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
               Three month periods ended January 31, 2003 and 2002
<TABLE>
<CAPTION>

                                                                              Three months ended
                                                                                  January 31,
                                                                   ----------------------------------------
                                                                        2003                     2002
                                                                   ---------------         ----------------
                                                                    (Unaudited)               (Unaudited)

<S>                                                                <C>                     <C>
INCOME FROM OPERATIONS                                             $             -         $              -

EXPENSES
  Depreciation                                                               1,071                    2,959
  Leasehold exploration
    and carrying costs                                                      77,510                   62,324
  General and administrative:
    Legal                                                                      629                    1,958
    Other                                                                   64,757                   66,000
                                                                   ---------------         ----------------
        NET INCOME/(LOSS) FROM OPERATIONS                                 (143,967)                (133,241)

OTHER INCOME (EXPENSES)
  Interest income                                                            2,384                   17,579
  Miscellaneous income                                                           -                        -
                                                                   ---------------         ----------------

                         NET INCOME/(LOSS)                         $      (141,583)        $       (115,662)
                                                                   ===============         ================


Net income/(loss) per common share                                 $         (0.11)        $          (0.09)
                                                                   ===============         ================

</TABLE>


          See accompanying notes to consolidated financial statements.


                                       4
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               Three month periods ended January 31, 2003 and 2002
<TABLE>
<CAPTION>

                                                                             Three months ended
                                                                                 January 31,
                                                                   -----------------------------------------
                                                                        2003                      2002
                                                                   ---------------         -----------------
                                                                     (Unaudited)              (Unaudited)
<S>                                                                <C>                     <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                                               $      (141,583)        $        (115,662)
    Add (deduct) adjustments
     to cash basis:
       Depreciation                                                          1,071                     2,959
       Increase (decrease) in:
         Accounts payable                                                     (448)                   (1,895)
         Accrued liabilities                                                     0                         0
       Decrease (increase) in:
         Prepaid expenses                                                    3,454                       768
         Accounts receivable                                                     0                     7,512
         Other assets                                                            0                         0
                                                                   ---------------         -----------------

NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES                       (137,506)                 (106,318)

CASH FLOWS FROM INVESTMENT ACTIVITIES:
   Property and equipment purchased                                              0                         0
   Increase in note receivable                                                (740)                   (1,981)
   Increase in certificates of deposit                                           0                (1,354,112)
                                                                   ---------------         -----------------

NET CASH USED IN INVESTMENT ACTIVITIES                                        (740)                1,352,131

NET INCREASE (DECREASE) IN CASH                                           (138,246)                1,245,813

CASH BALANCE AT BEGINNING OF PERIOD                                        893,021                    59,548
                                                                   ---------------         -----------------

CASH BALANCE AT END OF PERIOD                                      $       754,775         $       1,305,361
                                                                   ===============         =================


</TABLE>

          See accompanying notes to consolidated financial statements.

                                       5
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

              A summary of significant  accounting policies consistently applied
              in the  preparation  of the  accompanying  consolidated  financial
              statements follows:

              Financial Statements
              --------------------
              The financial  information  provided in the  Consolidated  Balance
              Sheet for the year ended October 31, 2002, 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 January
              31, 2003, have been made. All such  adjustments  were of a normal,
              recurring nature.

              Principles of Consolidation
              ---------------------------
              The accompanying  consolidated financial statements at January 31,
              2003,  include  the  accounts  of  Gold  Standard,  Inc.,  and its
              subsidiaries,  Gold Standard South,  Gold Standard Minas, S.A. and
              Tormin, S.A. As used herein, references to Gold Standard, Inc., or
              the Company  refers to Gold  Standard,  Inc. and its  consolidated
              subsidiaries.    All   significant   intercompany   balances   and
              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.  at one time held
              certain  mineral  exploration  concessions  in  Uruguay  but is no
              longer operating.

              Investment in Mining Properties
              -------------------------------
              Prospecting and  exploration  costs incurred in the search for new
              mining properties are charged to expense as incurred. Direct costs
              associated with the development of identified



                                       6
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

              Investment in Mining Properties (Continued)
              -------------------------------------------
              reserves are capitalized  until the related  geological  areas are
              put into  production,  sold or abandoned.  As of January 31, 2003,
              there were no geological areas under production.

              Loss Per Share
              --------------
              The Company applies  Statement of Financial  Accounting  Standards
              No. 128  Earnings  Per Share  (SFAS No.  128) which  requires  the
              calculation  of basic and diluted  loss per share.  Basic loss per
              share of common  stock is computed  based on the  weighted-average
              number of common shares outstanding during the period. The Company
              has common stock  equivalents  outstanding  at January 31, 2003 in
              the form of stock  warrants.  These  warrants were excluded in the
              calculations  of diluted loss per share  because  their  inclusion
              would have been anti-dilutive.

              Comprehensive Income
              --------------------
              The Company applies  Statement of Financial  Accounting  Standards
              No.  130   Reporting   Comprehensive   Income   (SFAS  No.   130).
              Comprehensive  income  is  defined  as the  change  in equity of a
              business  enterprise  during a period from  transactions and other
              events and circumstances from non- owner sources.  It includes all
              changes in equity  during a period  except  those  resulting  from
              investments by owners and distributions to owners.

              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.

              Estimates
              ---------
              The  preparation  of  financial   statements  in  conformity  with
              generally accepted  accounting  principles  requires management to
              make  estimates  and  assumptions  that  effect  certain  reported
              amounts and disclosures.  Accordingly, actual results could differ
              from those estimates.


                                       7
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)


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,  equipment,  and leasehold  improvements 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



NOTE 3 - INVESTMENT IN AFFILIATE

              On April  26,  2002,  Pan  American  Motorsports  (PAM)  agreed in
              principal with an unrelated third party, Queench,  Inc., (Queench)
              to issue 7,000,000 shares of its stock. At the same time, the PAMS
              president  sold  1,000,000  shares of PAMS  stock to  Queench.  In
              addition,  Gold Standard and its president and the PAMS  president
              transferred voting rights for shares beneficially owned by each to
              Queench until April 26, 2004.  As a result of these  transactions,
              Gold  Standard's  ownership  percentage  in PAMS  dropped to 11.6%
              effective  with the closing  date of the  transactions  of May 31,
              2002.  Gold Standard now accounts for its investment in PAMS under
              FASB 115,  Accounting  for Certain  Investments in Debt and Equity
              Securities.  The aggregate  fair value,  cost basis and unrealized
              holding gain of Gold Standard's  investment in PAMS at January 31,
              2003 is as follows:


                     Available for sale investment         $283,616
                     ----------------------------------------------

                     Cost basis                            $ 93,665
                     ----------------------------------------------

                     Unrealized holding gain included in
                         other comprehensive income        $189,951



                                       8
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)

NOTE 4 - MINING PROPERTIES

              The Company holds  directly or through its  subsidiary  companies,
              mineral and exploration  rights to property  located in the Dugway
              region  of  western  Utah,  southern  Uruguay,   and  Brazil.  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 January 31, 2003.


NOTE 5 - 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 January 31,  2003,  the Company had  receivables  from these
              companies of $513,936, $2,714,890 and $270,360,  respectively. All
              intercompany transactions have been eliminated in consolidation.

              In  January  2000  the  Company  president  exercised  options  to
              purchase  100,000  shares of common stock at $1.50 per share.  The
              shares were purchased with a non-interest  bearing promissory note
              in the amount of $150,000.  The note has been discounted at a rate
              of 6.21% and is due on January 18, 2004.


NOTE 6 - NON-COMPENSATORY STOCK WARRANTS

              In connection  with issuance of its common stock,  the Company has
              issued  warrants to outside parties for the purchase of additional
              shares at  specified  prices in the future.  Unexercised  warrants
              aggregate 46,875 shares at January 31, 2003. They carry a weighted
              average  price  of $12  per  share  and  have a  weighted  average
              remaining life of .16 years.


                                       9
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)

NOTE 7 - WARRANTS ISSUED AS COMPENSATION

              The Company applies  Statement of Financial  Accounting  Standards
              No. 123, Accounting for Stock Based Compensation, (SFAS 123) which
              requires disclosure of the fair value and other characteristics of
              stock options. The Company has chosen under the provisions of SFAS
              123 to continue using the intrinsic value method of accounting for
              employee  stock  based   compensation   in  accordance   with  the
              Accounting  Principles  Board Option No. 25,  Accounting for Stock
              Issued to Employees.

              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 January 31, 2003 are as follows:

                           Net loss
                             As reported             $ (141,583)
                             Pro forma               $ (141,583)

                           Loss per share
                             As reported                   (.11)
                             Pro forma                     (.11)

              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 110%; and
              (iii)  expected   weighted   average  lives  of  3.42  years.  The
              weighted-average  risk-free  interest  rate applied was 5.78%.  No
              compensatory warrants have been granted during the current period.


                                       10
<PAGE>
                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)



NOTE 7 - WARRANTS ISSUED AS COMPENSATION (Continued)

                Stock warrant activity is summarized as follows:

                                                           Avg.
                                                         Exercise
                                                Shares     Price
                                                ------   ---------
                Warrants outstanding
                  beginning of  period          80,000   $    1.75
                    Granted                          -           -
                    Exercised                        -           -
                    Canceled or
                      expired                        -           -
                                                -------

                Warrants outstanding
                  and exercisable,
                  end of period                 80,000   $    1.75
                                                ======


              All  80,000   outstanding   warrants  at  January  31,  2003  were
              exercisable  at $1.75  per share and  carried a  weighted  average
              remaining contractual life of .42 years.


 NOTE 8 - 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 asset.

              The  amounts  and  expiration  dates of net  operating  loss carry
              forwards  and  investment  tax  credits  at January  31,  2003 are
              detailed in the following summary:


                                       11
<PAGE>

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      January 31, 2003 and October 31, 2002
                                   (Unaudited)


 NOTE 8 - INCOME TAXES (Continued)
<TABLE>
<CAPTION>


                                       Federal                  State                  Net
                                    Net Operating            Net Operating            Capital
                 Expiration Date        Loss                     Loss                  Loss
                ----------------    --------------        -----------------        -------------

                <S>                 <C>                   <C>                      <C>
                October 31, 2003    $    1,441,272        $              --        $     101,409
                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                --                  245,957                   --
                October 31, 2014                --                  318,944                   --
                October 31, 2015                --                  167,861                   --
                October 31, 2016                --                  238,283                   --
                October 31, 2018           246,157                  259,562                   --
                October 31, 2019           319,144                       --                   --
                October 31, 2020           168,061                       --                   --
                October 31, 2021           238,483                       --                   --
                October 31, 2022           259,762                       --                   --
                                    --------------        -----------------        -------------

                                    $    6,279,453        $       1,417,955        $     101,409
                                    ==============        =================        =============
</TABLE>


NOTE 9 - CONCENTRATION OF CREDIT RISK

              The Company maintains substantially all cash balances with various
              financial  institutions  located in the State of Utah. Accounts at
              the  financial  institutions  are insured by the  Federal  Deposit
              Insurance  Corporation up to $100,000 per  institution.  Uninsured
              balances totaled $654,775 at January 31, 2003.


                                       12
<PAGE>

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

Introduction

         Gold Standard, Inc. and its subsidiaries (the Company) were formed to
engage in the acquisition, exploration, and if warranted, development of gold
mineralized properties. At the present time, the Company's activities are solely
exploration related and concentrated in Brazil. The following discussion should
be read in conjunction with the text of Management's Discussion and Analysis of
Financial Condition and Results of Operations contained in the Company's Form
10-KSB for fiscal year ended October 31, 2002.

Results and Plan of Operations

         No revenue was generated by Company operations during the three-month
periods ended January 31, 2003 and 2002.

         Exploration related expenses for the current three-month period ended
January 31, 2003 were $77,510 compared to $62,324 for the three-month period
ended January 31, 2002. Unless exploration activities discover deposits with
developmental potential or the Company acquires new exploration opportunities,
the Company currently anticipates that exploration expenses will continue at the
level experienced in the first three months for the remainder of the current
year.

         The Company's general and administrative expenses, excluding legal
expenses totaled $64,757 for the three-month period ended January 31, 2003
compared to $66,000 for the three-month period ended January 31, 2002. The two
most significant general and administrative expense categories during the
three-month period ended January 31, 2003 were (a) professional and consulting
fees $6,750 ($8,125 in 2002) and (b) wages and salaries $39,000 ($39,000 in
2002). The balance of general and administrative expenses includes office
supplies and expenses, office rent, travel, etc. Expenses for the remaining nine
months of the year, with the exception of professional and consulting fees,
should remain close to level in the first three months of the year. The
Company's management has been conscientious in striving to control general and
administrative expenses. The stability of general and administrative costs
during the past three years is a positive reflection on management's cost
control efforts. The Company has no long-term debt and is expected to meet all
of its obligations as they come due.

         The Company presently plans to continue its present level of
exploration activities on its Brazilian properties. To the extent that the
Company is unable to generate revenues from its activities, for operations the
Company will continue to rely on cash currently on hand. As described in more
detail in the Company's last Annual Report on Form 10-KSB, the Company presently
anticipates that, unless there are unanticipated increases in expenses, its

                                       13
<PAGE>

current funds will allow it to continue the current level of operations
activities through the fiscal year. Unless the Company is able to generate
adequate revenues from its activities, after such time (or prior to such time if
operations or expenses exceed current levels significantly), the Company will
need to raise additional funds to continue operations. The Company's ability to
raise such additional capital at such time will depend on the prospects for the
registrant's activities. There is no assurance that the Company will be able to
obtain the capital it requires to continue operations on terms and conditions
acceptable to the Company, even if the Company's exploration activities prove
successful. The Company also hopes to increase its working capital through the
sale of its available-for-sale securities, but there is no assurance the Company
will be successful in completing such sale or that it would realize the carrying
value of such securities upon a sale.

         The Company's future results of operations, to a significant degree,
depends on its success in locating, acquiring and producing commercial gold
deposits. With exploration proceeding on several properties whose commercial
production potential is not presently determinable, and considering the
difficulty of projecting future mineral prices, except as indicated above, the
Company does not undertake to project future results of operations.

Factors that May Affect Future Results

         THIS QUARTERLY REPORT ON FORM 10-QSB CONTAINS FORWARD-LOOKING
STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS
AMENDED. FORWARD-LOOKING STATEMENTS RELATE TO OUR FUTURE PLANS, OBJECTIVES,
EXPECTATIONS, AND INTENTIONS. THESE STATEMENTS MAY BE RECOGNIZED BY THE USE OF
WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," "INTENDS," "PLANS,"
"SHOULD," "SEEKS," "ANTICIPATES," AND SIMILAR EXPRESSIONS. IN PARTICULAR,
STATEMENTS REGARDING OUR ESTIMATED FUTURE OPERATIONAL EXPENSES, NEED FOR
ADDITIONAL CAPITAL, AND POTENTIAL FUTURE BUSINESS OPPORTUNITIES ARE
FORWARD-LOOKING STATEMENTS AND SUBJECT TO MATERIAL RISKS. ACTUAL RESULTS COULD
DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A
RESULT OF THE FACTORS SET FORTH BELOW AND THE MATTERS SET FORTH IN THE REPORT
GENERALLY. WE CAUTION THE READER, HOWEVER, THAT THIS LIST OF FACTORS IS NOT BE
EXHAUSTIVE, PARTICULARLY WITH RESPECT TO FUTURE FACTORS. ANY FORWARD-LOOKING
STATEMENTS ARE MADE PURSUANT TO THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995 AND, AS SUCH, SPEAK ONLY AS OF THE DATE MADE. WE UNDERTAKE NO
RESPONSIBILITY TO UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON,
EVEN IF NEW INFORMATION BECOMES AVAILABLE OR OTHER EVENTS OCCUR IN THE FUTURE.

         Factors that may affect forward-looking statements include a wide range
of factors that could materially affect future developments and performance,
including the following: Changes in company-wide strategies, which may result in
changes in types or mix of business in which the Company is involved or chooses
to invest; changes in exploration related activities, changes in U.S, global or
regional economic conditions, changes in U.S. and global financial and equity
markets, including significant interest rate fluctuations, which may impede the



                                       14
<PAGE>

Company's access to, or increase the cost of, external financing for its
operations; legal and regulatory developments, such as regulatory actions
affecting environmental activities; adverse weather conditions or natural
disasters, such as hurricanes and earthquakes; and labor disputes, which may
lead to increased costs or disruption of operations.

Item 3 - Controls and Procedures

         With 90 days of the date of this report, an evaluation was performed
under the supervision and with the participation of the Company's management,
including the President/Chief Financial Officer, of the effectiveness of the
design and operation of the Company's disclosure controls and procedures. Based
on that evaluation, the Company's management concluded that the Company's
disclosure controls and procedures were effective. There have been no
significant changes in the Company's internal controls or in other factors that
could significantly affect internal controls subsequent to January 31, 2003.

                           PART II - OTHER INFORMATION

Item 1 - Legal Proceedings

         None.

Item 2 - Changes in Securities

         None.

Item 3 - Defaults on 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

         (a)      Exhibits
                  --------

         The following exhibits are attached hereto or are incorporated herein
by reference as indicated in the table below:

         Exhibit                                            Location if other
           No.              Title of Document               than attached hereto
         -------            -----------------               --------------------

         3.01*             Articles of Incorporation        1999 Form 10-KSB
                           (as amended to date)             Exhibit 3.01

         3.02*             Amended Bylaws                   2000 Form 10-KSB
                                                            Exhibit 3.02

                                       15
<PAGE>

         99.1              Certification

* Denotes exhibits specifically incorporated in this Form 10-QSB by reference to
other filings of the Company pursuant to the provisions of Securities and
Exchange Commission rule 12b-32 and Regulation S-B, Item 10(f)(2). These
documents are located under File No. 001-10287 at, among other locations, the
Securities and Exchange Commission, Public Reference Branch, 450 5th St., N.W.,
Washington, D.C. 20549.

         (b)      Reports on Form 8-K
                  -------------------

         There were no reports on Form 8-K filed by the Company during the
quarter ended January 31, 2003.


                                   SIGNATURES

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

                                       GOLD STANDARD, INC.


Date     March 17, 2003                By:  /s/Scott L. Smith
                                           -------------------------------------
                                           Scott L. Smith
                                           President and Chief Financial Officer

                                 CERTIFICATIONS

I, Scott L. Smith, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Gold Standard, Inc.;

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

                                       16
<PAGE>

         b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):

         a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date     March 17, 2003                 By:  /s/Scott L. Smith
                                           -------------------------------------
                                           Scott L. Smith
                                           President and Chief Financial Officer


                                       17