SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

Quarterly report under Section 13 of 15(d) of the Securities Exchange Commission
                                   Act of 1934

                For the quarterly period ended November 30, 2001

                       Commission File Number:  001-05970

                           Silver Butte Mining Company
             (Exact name of registrant as specified in its charter)

            IDAHO                                            82-0263301
(State  or  other  jurisdiction of                      (I.R.S. Employer
Incorporation  or  organization)                         Identification  Number)

     520  Cedar  Street,  Sandpoint,  ID                         83864
(Address  of  Principal  Executive  Offices)                  (Zip  Code)

                                 (208) 263-5154
               Registrant's telephone number, including area code

     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 registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90  days.

     Yes  (X)        No  (  )

The number of shares of Common Stock, $.05 par value, outstanding as of November
30,  2001,  was  8,485,415.


DOCUMENTS  INCORPORATED  BY  REFERENCE:  NONE

Transitional  Small  Business  Disclosure  Format  (Check One):  yes ( )  No (X)




















<PAGE>
                           Silver Butte Mining Company
                           Form 10QSB Quarterly Report
                                November 30, 2001



INDEX
                                                                            Page

Part  I-  FINANCIAL  INFORMATION

Item  1.  Condensed  Financial  Statements-UNAUDITED

     Balance Sheets, November 30, 2001, and August 31, 2001                   3

     Income  statements  for  the three months ended
     November 30, 2001, and 2000                                              4

     Cash Flow Statements for the three months ended
     November 30, 2001, and 2000                                              5

     Notes  to  Condensed  Financial  Statements                              6

Item  2.  Management's Discussion and Analysis of Financial condition
          And Results  of  Operations                                         7

Signature  Page                                                               8



































<PAGE>
                           Silver Butte Mining Company
                       Condensed Balance Sheets-UNAUDITED
                      November 30, 2001, and August 31, 2001

                                               November 30,   August 31,
                                                   2001          2001
                                               ------------  ------------
ASSETS

CURRENT  ASSETS
  Cash and cash equivalents                    $     1,351   $     1,296
  Certificate of deposit for State lease              5022          5000
  Money Market mutual fund                          62,139        65,159
  Accounts receivable                                  817           839
                                               ------------  ------------
TOTAL  CURRENT  ASSETS                              69,329        72,294
                                               ------------  ------------

PROPERTY,  PLANT  &  EQUIPMENT
  Properties                                         3,000         3,000
  Equipment and machinery                            1,500         1,500
  Accumulated depreciation                          (1,500)       (1,500)
                                               ------------  ------------
TOTAL  FIXED  ASSETS                                 3,000         3,000
                                               ------------  ------------

TOTAL  ASSETS                                  $    72,329   $    75,294
                                               ============  ============

LIABILITIES  AND  SHAREHOLDER'S  EQUITY

CURRENT  LIABILITIES
Accounts payable                               $     1,024   $     3,044
                                               ------------  ------------
TOTAL CURRENT LIABILTITES                            1,024         3,044
                                               ------------  ------------

SHAREHOLDERS'  EQUITY
  Common stock, $.05 par value,authorized
    10,000,000  shares,  issued  and
    outstanding, 8,485,415 shares at
    11-30-2001  and 8,015,415  shares at
    8-31-2001                                      424,271       400,771
  Additional paid-in capital                       370,919       385,019
  Accumulated deficit                             (723,885)     (713,540)
                                               ------------  ------------
TOTAL  SHAREHOLDER'S  EQUITY                        71,305        72,250
                                               ------------  ------------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     $    72,329   $    75,294
                                               ============  ============










   The accompanying notes are an integral part of these financial statements
<PAGE>
                           Silver Butte Mining Company
                      Condensed Income Statements-UNAUDITED
              For the Three Months Ended November 30, 2001 and 2000


                                        Three Months Ended   Three Months Ended
                                        November 30, 2001    November 30, 2000
                                        -------------------  ------------------
REVENUES
  Money market income                   $              479   $            1022
  Interest income                                       54                  80
                                        -------------------  ------------------
Total  Revenues                                        533                1102
                                        -------------------  ------------------

EXPENSES
Director fees                                        9,400                -
Professional services                                1,070                 51
Taxes and insurance                                    -                  104
State lease                                            -                  175
Office expense                                          21                 21
Miscellaneous                                          387                125
                                        -------------------  ------------------
Total  Expenses                                     10,878                476
                                        -------------------  ------------------

INCOME  (LOSS) BEFORE INCOME TAXES                 (10,345)               626

INCOME  TAXES                                          -                  -
                                        -------------------  ------------------

NET  INCOME  (LOSS)                     $          (10,345)  $            626
                                        ===================  ==================

Income (Loss) per Share of Common
  Stock Outstanding                     $           0.1249   $          0.0001
                                        ===================  ==================

Weighted Average  number of Common
  Shares Outstanding                             8,285,415           7,828,748
                                        ===================  ==================



















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

<PAGE>
                           SILVER BUTTE MINING COMPANY
                  Condensed Statements Of Cash Flows-UNAUDITED
              For The Three Months Ended November 30, 2001 and 2000


                                        November 30, 2001    November 30, 2000
                                        -------------------  ------------------

CASH FLOWS FROM OPERATING ACTIVITIES
  Net  Income  (Loss)                   $          (10,345)  $             626
  Adjustments to reconcile net income
    to net cash used in operating
    activities:
      Increase (decrease) in payables              (2,021)                 -
      Decrease in prepaid  expenses
      Directors  fees  paid  with  stock            9,400                  -
                                        -------------------  ------------------
Net cash provided by (used in)
  operating  activities                             (2,966)                626
                                        -------------------  ------------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Interest received and reinvested in
    Money  market  mutual  funds                      (479)             (1,022)
  Withdrawals from money market
     mutual fund                                     3,500                 -
                                        -------------------  ------------------
Net cash provided by (used in)
  investing  activities                             (3,021)             (1,022)
                                        -------------------  ------------------

CASH  FLOWS FROM FINANCING ACTIVITIES                    0                   0
                                        -------------------  ------------------

NET INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS                                  55                (396)
Cash  and Cash Equivalents at
   Beginning of Period                               1,296               5,647
                                        -------------------  ------------------

Cash and Cash Equivalents at
  End of Period                         $            1,351   $           5,251
                                        ===================  ==================


Interest  expense  paid                 $                0   $               0
                                        ===================  ==================


Income  taxes  paid                     $                0   $               0
                                        ===================  ==================

NONCASH  FINANCING  ACTIVITY:

Stock issued to pay directors' fees     $            9,400   $               0
                                        ===================  ==================




    The accompanying notes are an integral part of these financial statements

<PAGE>
                           Silver Butte Mining Company
                Notes to Condensed Financial Statement-UNAUDITED
                                November 30, 2001


Note  1.  PRESENTATION  OF  INTERIM  INFORMATION

     The  accompanying  unaudited  condensed  financial  statements   have  been
prepared  by Silver Butte Mining Company's management.  In management's opinion,
these  condensed  financial statements include all normal adjustments considered
necessary  to present fairly the financial position as of November 30, 2001, and
the  results  of  operations  for  the three months ended November 30, 2001, and
2000,  and  cash  flows  for  the three months ended November 30, 2000 and 1999.
Interim  results  are  not  necessarily  indicative  of results for a full year.

     The condensed financial statements and notes are presented as  permitted by
Form 10QSB,  and do not  contain certain  information that  is  included  in the
Company's annual  financial  statements.

Note  2.     COMPANY  BUSINESS

     The  Company  was  incorporated  under  the  laws  of the State of Idaho on
January  19,  1965,  and  was in the exploratory mining stage from its inception
until  it  decided  to  abandon  its status as a development stage enterprise by
ceasing  all  exploration  activities in 1994. The Company's exploration efforts
developed  no  commercial  ore  deposits,  and all capitalized mining costs were
written  off.  The Company continues to search for business opportunities in the
mining  industry,  and  will also investigate opportunities in other industries.
The  Company's  financial  resources severely limit its ability to carry out the
type  of exploration activity that it performed in past years, and the Company's
management considers it unlikely that the Company will obtain additional funding
with  which  to  undertake  such  exploration.

Note  3.     COMMITMENTS  AND  CONTINGENCIES

     The  Company  sold  a  seven-acre  parcel  of land in the fiscal year ended
August  31,  1996 that contained mine waste rock and mill tailings.  The Company
believes  there  is  a  remote  possibility  that this property may require some
cleanup, and an even more remote possibility that the Company may be required to
participate  in the cost of such a cleanup, which the Company estimates would be
less  than  $10,000.





















<PAGE>
                           Silver Butte Mining Company
                           Form 10QSB Quarterly Report
                                November 30, 2001

Item  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF  OPERATION

     The Company was a mining company engaged in exploration activities from its
inception  in 1965 through 1994.  In 1994, the Company abandoned all exploration
activities,  and  is now seeking other business opportunities in mining or other
industries.  The  Company  continues  to  hold  and  maintain  a  portion of the
properties  on which it performed its exploration efforts.  The Company's fiscal
year  ends  on  August  31.

OVERVIEWS

     The  Company's  management determined in 1994 that the Company did not have
the  financial  resources  to  continue  to explore for a commercial ore deposit
after  many  years  of  unsuccessful  efforts.  The  Company  has performed some
reclamation  work  on its mining properties since 1994, and is soliciting buyers
for  its  remaining  real  estate  and mining equipment.  The Company is seeking
other  business  opportunities.  Management is unaware of any such opportunities
at this time and will disclose such opportunities when and if they should arise.

RESULTS  OF  OPERATION

REVENUES.     The  Company's  dividend and interest income decreased 52% for the
quarter  ended November 30, 2001, compared to the same period ended November 30,
2000.

EXPENSES.      Expenses  increased  by $10,402 in the quarter ended November 30,
2001, when compared to the quarter ended November 30, 2000.  The main reason for
the  increase  was  in  the payment of directors fees for current and prior year
services  by  the  issuance  of  470,000  shares  of  stock  valued  at  $9,400.

FINANCIAL  POSITION.          There  were  very  little changes in the Company's
assets  and  liabilities in the quarter ended November 30, 2001, compared to the
fiscal  year  ended  August  31,  2001.

CASH  FLOWS.          Cash  and cash equivalents were $3,900 lower at the end of
the  quarter  ended  November 30, 2001, compared to the fiscal year ended August
31,  2001.  The  dividend  income  for  the quarter was reinvested in marketable
securities.  The  Company's management plans to use cash provided by redemptions
from  its  money market fund to fund operations during the remaining quarters of
the  fiscal  year.  The  Company has no plans for capital expenditures that will
require  significant  amounts  of  cash.
















<PAGE>
                           Silver Butte Mining Company
                           Form 10QSB Quarterly Report
                                November 30, 2001

SIGNATURE

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


SILVER  BUTTE  MINING  COMPANY


Date:  January  11,  2001.               /s/  ROBERT  J.  EVANS
                                         ----------------------
                                         Robert  J.  Evans
                                        (Principal  Financial  Officer)