---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

Form 10-Q

(Mark One)

[x]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30,
2010

[  ]   TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number
000-52745

TECKMINE INDUSTRIES,
INC.(Exact name of registrant as specified in its
charter)

|Nevada                                                               | 98-0534859                       
|-------------------------------------------------------------------- | ---------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (IRS Employer Identification No.)

Suite 239  280 Nelson Street, Vancouver, British
Columbia, Canada V6B 2E2(Address of principal executive offices)
(zip code)

604-677-5066(Registrants telephone number,
including area code)

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

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.Yes [x]     No
[   ]

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files).Yes [  ]    No [   ]
(Not currently applicable to the Registrant).

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See definitions of large accelerated filer, accelerated
filer, and smaller reporting company in Rule 12b-2 of the Exchange Act.
(Check one):

---

- 2 -

|Large accelerated filer  [   ]                | Accelerated filer  [ 
  ]     
|--------------------------------------------- | ------------------------------
|Non-accelerated filer  [   ]                  | Smaller reporting company  [x]
|(Do not check if a smaller reporting company) |                               

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).Yes [x]   
No  [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable date:

19,506,304 common shares issued and outstanding as of November
2, 2010.

---

- 3 -

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

Our financial statements are stated in United States dollars
and are prepared in accordance with United States generally accepted accounting
principles.

It is the opinion of management that the interim financial
statements for the quarter ended September 30, 2010 include all adjustments
necessary in order to ensure that the interim financial statements are not
misleading.

---

Teckmine Industries, Inc.(An Exploration Stage Company)
September 30, 2010

|                                  | Index
|--------------------------------- | -----
|Balance Sheets                    | F1  
|Statements of Operations          | F2  
|Statements of Cash Flows          | F3  
|Notes to the Financial Statements | F4  

---

|Teckmine Industries, Inc.     
|------------------------------
|(An Exploration Stage Company)
|Balance Sheets                
|(Expressed in U.S. dollars)   

|                                                                                                                               |  | September 30, |   |  | December 31, |  
|------------------------------------------------------------------------------------------------------------------------------ |  | ------------- | - |  | ------------ | -
|                                                                                                                               |  | 2010          |   |  | 2009         |  
|                                                                                                                               |  | $             |   |  | $            |  
|                                                                                                                               |  | (Unaudited)   |   |  |              |  
|ASSETS                                                                                                                         |  |               |   |  |              |  
|Current Assets                                                                                                                 |  |               |   |  |              |  
|Cash                                                                                                                           |  |              |   |  | 4,746        |  
|Total Assets                                                                                                                   |  |              |   |  | 4,746        |  
|                                                                                                                               |  |               |   |  |              |  
|LIABILITIES AND STOCKHOLDERS DEFICIT                                                                                          |  |               |   |  |              |  
|Current Liabilities                                                                                                            |  |               |   |  |              |  
|Bank overdraft                                                                                                                 |  | 112           |   |  |             |  
|Accounts payable                                                                                                               |  | 15,491        |   |  | 6,841        |  
|Accrued liabilities                                                                                                            |  |              |   |  | 1,702        |  
|Due to related parties (Note 3(b))                                                                                             |  | 136,611       |   |  | 122,418      |  
|Total Liabilities                                                                                                              |  | 152,214       |   |  | 130,961      |  
|                                                                                                                               |  |               |   |  |              |  
|Contingencies (Note 1)                                                                                                         |  |               |   |  |              |  
|Stockholders Deficit                                                                                                          |  |               |   |  |              |  
|Common Stock: 
        100,000,000 shares
      authorized, $0.001 par value;   19,506,304 shares
      issued and outstanding |  | 19,506        |   |  | 19,506       |  
|Additional Paid-in Capital                                                                                                     |  | 52,553        |   |  | 52,553       |  
|Donated Capital (Note 3(a))                                                                                                    |  | 57,000        |   |  | 50,250       |  
|Deficit Accumulated During the Exploration
      Stage                                                                         |  | (281,273      | ) |  | (248,524     | )
|Total
      Stockholders Deficit                                                                                              |  | (152,214      | ) |  | (126,215     | )
|Total Liabilities and Stockholders Deficit                                                                                    |  |              |   |  | 4,746        |  

(The Accompanying Notes are an Integral Part of the Financial
Statements)

F-1

---

|Teckmine Industries, Inc.     
|------------------------------
|(An Exploration Stage Company)
|Statements of Operations      
|(Expressed in U.S. dollars)   
|(Unaudited)                   

|                                             |  | Accumulated from    |   |  | For the       |   |  | For the       |   |  | For the       |   |  | For the       |  
|-------------------------------------------- |  | ------------------- | - |  | ------------- | - |  | ------------- | - |  | ------------- | - |  | ------------- | -
|                                             |  | May 19, 2004        |   |  | Three Months  |   |  | Three Months  |   |  | Nine Months   |   |  | Nine Months   |  
|                                             |  | (Date of Inception) |   |  | Ended         |   |  | Ended         |   |  | Ended         |   |  | Ended         |  
|                                             |  | To September 30,    |   |  | September 30, |   |  | September 30, |   |  | September 30, |   |  | September 30, |  
|                                             |  | 2010                |   |  | 2010          |   |  | 2009          |   |  | 2010          |   |  | 2009          |  
|                                             |  | $                   |   |  | $             |   |  | $             |   |  | $             |   |  | $             |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Revenue                                      |  |                    |   |  |              |   |  |              |   |  |              |   |  |              |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Expenses                                     |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|General and
      administrative (Note 3(a)) |  | 221,587             |   |  | 14,657        |   |  | 10,088        |   |  | 32,749        |   |  | 38,548        |  
|Impairment of mineral property
      costs   |  | 55,000              |   |  |              |   |  |              |   |  |              |   |  |              |  
|Mineral property costs                       |  | 4,686               |   |  |              |   |  |              |   |  |              |   |  |              |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Total Expenses                               |  | 281,273             |   |  | 14,657        |   |  | 10,088        |   |  | 32,749        |   |  | 38,548        |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Net Loss                                     |  | (281,273            | ) |  | (14,657       | ) |  | (10,088       | ) |  | (32,749       | ) |  | (38,548       | )
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Net Loss Per Share  Basic and Diluted       |  |                     |   |  |              |   |  |              |   |  |              |   |  |              |  
|                                             |  |                     |   |  |               |   |  |               |   |  |               |   |  |               |  
|Weighted Average Shares Outstanding          |  |                     |   |  | 19,506,304    |   |  | 19,506,304    |   |  | 19,506,304    |   |  | 19,506,304    |  

(The Accompanying Notes are an Integral Part of the Financial
Statements)

F-2

---

|Teckmine Industries, Inc.     
|------------------------------
|(An Exploration Stage Company)
|Statements of Cash Flows      
|(Expressed in U.S. dollars)   
|(Unaudited)                   

|                                                                             |  | Accumulated from    |   |  | For the       |   |  | For the       |  
|---------------------------------------------------------------------------- |  | ------------------- | - |  | ------------- | - |  | ------------- | -
|                                                                             |  | May 19, 2004        |   |  | Nine Months   |   |  | Nine Months   |  
|                                                                             |  | (Date of Inception) |   |  | Ended         |   |  | Ended         |  
|                                                                             |  | to September 30,    |   |  | September 30, |   |  | September 30, |  
|                                                                             |  | 2010                |   |  | 2010          |   |  | 2009          |  
|                                                                             |  | $                   |   |  | $             |   |  | $             |  
|Operating Activities                                                         |  |                     |   |  |               |   |  |               |  
|Net loss for the period                                                      |  | (281,273            | ) |  | (32,749       | ) |  | (38,548       | )
|Adjustment to reconcile net loss to cash used
      in operating activities: |  |                     |   |  |               |   |  |               |  
|Donated services
      and expenses                                          |  | 57,000              |   |  | 6,750         |   |  | 6,750         |  
|Impairment of mineral property
      costs                                   |  | 55,000              |   |  |              |   |  |              |  
|Changes in operating assets
      and liabilities:                           |  |                     |   |  |               |   |  |               |  
|Accounts payable                                                             |  | 15,491              |   |  | 8,650         |   |  | 850           |  
|Accrued liabilities                                                          |  |                    |   |  | (1,702        | ) |  | (103          | )
|Net Cash Used in
      Operating Activities                                  |  | (153,782            | ) |  | (19,051       | ) |  | (31,051       | )
|Investing Activities                                                         |  |                     |   |  |               |   |  |               |  
|Mineral property costs                                                       |  | (55,000             | ) |  |              |   |  |              |  
|Net Cash Used in Investing Activities                                        |  | (55,000             | ) |  |              |   |  |              |  
|Financing Activities                                                         |  |                     |   |  |               |   |  |               |  
|Bank overdraft                                                               |  | 112                 |   |  | 112           |   |  |              |  
|Proceeds from issuance of common
      stock                                 |  | 75,809              |   |  |              |   |  |              |  
|Share issuance
      costs                                                   |  | (3,750              | ) |  |              |   |  |              |  
|Advances from related parties                                                |  | 136,611             |   |  | 14,193        |   |  | 26,037        |  
|Net Cash Flows Provided by Financing Activities                              |  | 208,782             |   |  | 14,305        |   |  | 26,037        |  
|Decrease In Cash                                                             |  |                    |   |  | (4,746        | ) |  | (5,014        | )
|Cash  Beginning of Period                                                   |  |                    |   |  | 4,746         |   |  | 10,054        |  
|Cash  End of
      Period                                                   |  |                    |   |  |              |   |  | 5,040         |  
|Supplemental Disclosures                                                     |  |                     |   |  |               |   |  |               |  
|Interest paid                                                                |  |                    |   |  |              |   |  |              |  
|Income taxes paid                                                            |  |                    |   |  |              |   |  |              |  

(The Accompanying Notes are an Integral Part of the Financial
Statements)

F-3

---

|Teckmine Industries, Inc.        
|---------------------------------
|(An Exploration Stage Company)   
|Notes to the Financial Statements
|(Expressed in U.S. dollars)      
|(Unaudited)                      

|1. | Nature of Operations and Continuance of
Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | The Company was incorporated in the State of Nevada on
      May 19, 2004. The Company has an option to acquire a 50% interest in a
      mineral property located in British Columbia, Canada. The Company is an
      Exploration Stage Company, as defined by Financial Accounting Standards
      Board (FASB) Accounting Standards Codification (ASC) 915,
      Development Stage Entities.The Companys principal business is the
      acquisition and exploration of mineral resources. The Company does not
      currently have any mineral property interests.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | These financial statements have been prepared on a going
      concern basis, which implies the Company will continue to realize its
      assets and discharge its liabilities in the normal course of business. The
      Company has never generated revenues since inception and has never paid
      any dividends and is unlikely to pay dividends or generate earnings in the
      immediate or foreseeable future. The continuation of the Company as a
      going concern is dependent upon the continued financial support from its
      shareholders, the ability of the Company to obtain necessary equity
      financing to continue operations, confirmation of the Companys interests
      in the underlying properties, and the attainment of profitable operations.
      As at September 30, 2010, the Company has a working capital deficiency of
      $152,214, has not generated any revenue, and has accumulated losses of
      $281,273 since inception. These financial statements do not include any
      adjustments to the recoverability and classification of recorded asset
      amounts and classification of liabilities that might be necessary should
      the Company be unable to continue as a going concern. These factors raise
      substantial doubt regarding the Companys ability to continue as a going
      concern.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|2. | Summary of Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   | (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

F-4

---

|Teckmine Industries, Inc.        
|---------------------------------
|(An Exploration Stage Company)   
|Notes to the Financial Statements
|(Expressed in U.S. dollars)      
|(Unaudited)                      

|2. | Summary of Significant Accounting Policies
    (continued)
|-- | ----------------------------------------------------------
|   |                                                           
|   | (e)                                                       
|   |                                                           
|   |                                                           
|   |                                                           
|   | (f)                                                       
|   |                                                           
|   |                                                           
|   |                                                           
|   | (g)                                                       
|   |                                                           
|   |                                                           
|   |                                                           
|   | (h)                                                       
|   |                                                           
|   |                                                           
|   |                                                           
|   |                                                           
|   |                                                           
|   | (i)                                                       
|   |                                                           
|   |                                                           

F-5

---

Teckmine Industries, Inc.(An Exploration Stage Company)
Notes to the Financial Statements (Expressed in U.S. dollars)
(Unaudited)

|2. | Summary of Significant Accounting Policies
    (continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (j)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (k)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (l)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (m)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|3. | Related Party Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|4. | Fair Value Measurements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   | The Companys financial instruments consist principally
      of cash, accounts payable and amounts due to related parties. Pursuant to
      ASC 820, the fair value of the Companys cash equivalents is determined
      based on Level 1 inputs, which consist of quoted prices in active
      markets for identical assets. The carrying values of all other financial
      instruments approximate their current fair values because of their nature
      and respective maturity dates or durations.

F-6

---

- 4 -

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

FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements.
Forward-looking statements are projections in respect of future events or our
future financial performance. In some cases, you can identify forward-looking
statements by terminology such as may, should, intends, expects,
plans, anticipates, believes, estimates, predicts, potential, or
continue or the negative of these terms or other comparable terminology. These
statements are only predictions and involve known and unknown risks,
uncertainties and other factors, including the risks in the section entitled
Risk Factors, which may cause our or our industrys actual results, levels of
activity or performance to be materially different from any future results,
levels of activity or performance expressed or implied by these forward-looking
statements.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity or performance. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements to actual
results.

In this report, unless otherwise specified, all dollar amounts
are expressed in United States dollars and all references to common shares
refer to the common shares in our capital stock.

As used in this report and unless otherwise indicated, the
terms we, us and our refer to Teckmine Industries, Inc.

Corporate History

We were incorporated in the state of Nevada on May 19, 2004.
Our executive and head office is located at Suite 239  280 Nelson Street,
Vancouver, British Columbia, Canada V6B 2E2.

On November 10, 2004, we entered into an option agreement with
Goldbridge Resources Ltd., which granted us the right to acquire a 50% interest
in the Pioneer Extension Property in consideration for $22,500. The $22,500 was
paid to Goldbridge Resources Ltd. in two installments, consisting of a payment
of $11,250 upon the execution of the option agreement and a payment of $11,250
on February 10, 2005.

The term of the option agreement commenced on November 10,
2004, and extended for a period of 18 months until May 10, 2006. We extended the
term of the option agreement by an additional twelve months until May 10, 2007
by paying Goldbridge Resources an additional $10,000 in September 2006. On May
9, 2007, we entered into a subsequent option agreement with Goldbridge Resources
Ltd. which included similar terms to the option agreement dated November 10,
2004. The May 9, 2007 agreement granted us the right to acquire a 50% interest
in the Pioneer Extension Property in consideration for $22,500. The first
installment of $11,250 was paid to Goldbridge Resources Ltd. upon the execution
of the agreement and the final payment of $11,250 was paid on November 13, 2007.
To exercise the option and acquire the 50% interest in the property, we had to
make a minimum of $250,000 of expenditures on the Pioneer Extension Property on
or before November 9, 2008.

We were unable to raise the financing necessary to carry out
the recommended exploration program and results from other exploration programs
on neighboring areas showed uneconomic mineralization. In addition, the current
financial crises and related liquidity problems have made capital raising
increasingly difficult for exploration stage mining companies to obtain the
financing necessary to undertake exploration programs.

As a result of these factors, our company has decided to not
renew the option agreement of the Pioneer Extension Property with Goldbridge
Resources and the option on our sole property lapsed on November 10, 2008. As of
the date hereof, we do not own any property interests.

We are currently seeking suitable opportunities with
established business entities for the merger or other form of business
combination with our company. Although our company was not successful in raising
the funds to explore the Pioneer Extension Property, we may identify target
companies which hold alternate mineral properties which are suitable for
exploration and development. In certain instances, a target business may wish to
become a subsidiary of us or may wish to contribute assets to us rather than
merge. Although we are searching for such opportunities, we have not entered
into any definitive agreements to date and there can be no assurance
that we will be able to enter into any definitive agreements. We anticipate that
any new acquisition or business opportunities by our company will require
additional financing. There can be no assurance, however, that we will be able
to acquire the financing necessary to enable us to pursue our plan of operation
and enter into such an agreement. If our company requires additional financing
and we are unable to acquire such funds, our business may fail.

---

- 5 -

Even if we are able to enter into a business opportunity and
obtain the necessary funding, there is no assurance that any revenues would be
generated by us or that revenues generated would be sufficient to provide a
return to investors.

Results of Operations

There were no material changes in our results of operations as
our results of operations were consistent with past periods. We did not generate
or realize any revenues from our business operations and our expenses were
related to complying with our obligations as a reporting company under the
Securities Exchange Act of 1934. These expenses consisted primarily of
professional fees relating to the preparation of our financial statements and
completion of our annual report, quarterly reports and current reports filings
with the Securities and Exchange Commission.

During the three months ended September 30, 2010, we incurred
expenses of $14,657 compared to $10,088 during the three months ended September
30, 2009. The increase in expenses during the three months ended September 30,
2010 resulted from increased general and administrative expenses, namely
increased accounting costs. We have not generated any revenue since our
inception.

During the nine months ended September 30, 2010, we incurred
expenses of $32,749 compared to $38,548 during the nine months ended September
30, 2009. The decrease in expenses during the nine months ended September 30,
2010 resulted from decreased general and administrative expenses, including
professional fees.

As of September 30, 2010, our company had cash of $nil and a
working capital deficit of $152,214. We estimate our operating expenses and
working capital requirements for the next twelve period to be as follows:

|1. | $15,000 in connection with our company locating,
      evaluating and negotiating potential business opportunities;                                                                                 
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                     
|2. | $40,000 for operating expenses, including professional
      legal and accounting expenses associated with our company being a
      reporting issuer under the Securities Exchange Act of 1934; and
|   |                                                                                                                                                                                                     
|3. | $24,000 for management and administrative
  costs.                                                                                                                                                  

We will incur additional expenses if we are successful in
entering into an agreement to acquire a suitable business opportunity. If we
enter into such an agreement, we anticipate that we will require significant
funds to develop the business in addition to any acquisition costs. It is not
possible to estimate such funding requirements until such time as we enter into
a business combination.

Liquidity and Capital Resources

We had cash of $nil as of September 30, 2010 compared to cash
of $4,746 as of December 31, 2009. We had a working capital deficit of $152,214
as of September 30, 2010 compared to working capital deficit of $126,215 as of
December 31, 2009. We have suffered recurring losses from inception. The ability
of our company to meet our financial liabilities and commitments is primarily
dependent upon the continued financial support of our directors and
shareholders, the continued issuance of equity to new shareholders, and our
ability to achieve and maintain profitable operations.

Management believes that our companys cash balance will not be
sufficient to meet our working capital requirements for the next twelve month
period. We estimate that we will require $79,000 over the next twelve month
period and at least $152,214 to eliminate our working capital deficiency,
exclusive of any acquisition or development costs. This amount may also increase
if we are required to carry out due diligence investigations in regards to any
prospective business opportunity or if the costs of negotiating the applicable
transaction are greater than anticipated. Our company plans to raise the capital
required to satisfy our immediate short-term needs and additional capital
required to meet our estimated funding requirements for the next twelve months primarily through the
private placement of our equity securities. There is no assurance that our
company will be able to obtain further funds required for our continued working
capital requirements.

---

- 6 -

In addition to the issues set out above regarding our ability
to raise capital, global economies are currently undergoing a period of economic
uncertainty related to the tightening of credit markets worldwide. This has
resulted in numerous adverse effects, including unprecedented volatility in
financial markets and stock prices, slower economic activity, decreased consumer
confidence and commodity prices, reduced corporate profits and capital spending,
increased unemployment, liquidity concerns and volatile but generally declining
energy prices. We anticipate that the current economic conditions and the credit
shortage will adversely impact our ability to raise financing. In addition, if
the future economic environment continues to be less favorable than it has been
in recent years, we may experience difficulty in locating a suitable business
opportunity to acquire or enter into a business combination.

Operating Activities

Operating activities used cash of $19,051 during the nine
months ended September 30, 2010 as compared to $31,051 during the nine months
ended September 30, 2009.

Financing Activities

Financing activities provided cash of $14,193 during the nine
months ended September 30, 2010 as compared to $26,037 during the nine months
ended September 30, 2009. Cash provided from financing activities during the
nine months ended September 30, 2010 resulted from advances from related
parties.

Investing Activities

Investing activities provided cash of $nil during the nine
months ended September 30, 2010 and 2009.

Going Concern

There is substantial doubt about our ability to continue as a
going concern as the continuation of our business is dependent upon obtaining
further long-term financing, entering into a suitable business opportunity and
achieving a profitable level of operations. The issuance of additional equity
securities by us could result in a significant dilution in the equity interests
of our current stockholders. Obtaining commercial loans, assuming those loans
would be available, will increase our liabilities and future cash
commitments.

Due to the uncertainty of our ability to meet our current
operating and capital expenses, in their report on our audited financial
statements for the year ended December 31, 2009, our independent auditors
included an explanatory paragraph regarding substantial doubt about our ability
to continue as a going concern. Our statements contain additional note
disclosures describing the circumstances that lead to this disclosure by our
independent auditors.

Application of Critical Accounting Policies

Our financial statements and accompanying notes are prepared in
accordance with generally accepted accounting principles used in the United
States. Preparing financial statements requires management to make estimates and
assumptions that affect the reported amounts of assets, liabilities, revenue,
and expenses. These estimates and assumptions are affected by managements
application of accounting policies. We believe that understanding the basis and
nature of the estimates and assumptions involved with the following aspects of
our financial statements is critical to an understanding of our financials.

Mineral Property Costs

Our company has been in the exploration stage since its
formation on May 19, 2004 and has not yet realized any revenues from its planned
operations. Our company is primarily engaged in the acquisition, exploration and
development of mineral properties. Mineral property acquisition costs are
capitalized when management has determined that probable future benefits
consisting of a contribution to future cash inflows have been identified and
adequate financial resources are available or are expected to be available as
required to meet the terms of property acquisition and budgeted exploration and
development expenditures. Mineral property acquisition costs are expensed as
incurred if the criteria for capitalization are not met. In the event that a mineral property is acquired
through the issuance of our companys shares, the mineral property will be
recorded at the fair value of the respective property or the fair value of
common shares, whichever is more readily determinable.

---

- 7 -

When mineral properties are acquired under option agreements
with future acquisition payments to be made at the sole discretion of our
company, those future payments, whether in cash or shares, are recorded only
when we have made or are obliged to make the payment or issue the shares. When
it has been determined that a mineral property can be economically developed as
a result of establishing proven and probable reserves and bankable feasibility,
the costs incurred to develop such property are capitalized.

Long-lived Assets

In accordance with ASC 360, Property Plant and Equipmentour company tests long-lived assets or asset groups for recoverability when
events or changes in circumstances indicate that their carrying amount may not
be recoverable. Circumstances which could trigger a review include, but are not
limited to: significant decreases in the market price of the asset; significant
adverse changes in the business climate or legal factors; accumulation of costs
significantly in excess of the amount originally expected for the acquisition or
construction of the asset; current period cash flow or operating losses combined
with a history of losses or a forecast of continuing losses associated with the
use of the asset; and current expectation that the asset will more likely than
not be sold or disposed significantly before the end of its estimated useful
life. Recoverability is assessed based on the carrying amount of the asset and
its fair value which is generally determined based on the sum of the
undiscounted cash flows expected to result from the use and the eventual
disposal of the asset, as well as specific appraisal in certain instances. An
impairment loss is recognized when the carrying amount is not recoverable and
exceeds fair value.

Recent Accounting Pronouncements

Our company has implemented all new accounting pronouncements
that are in effect and that may impact its financial statements and does not
believe that there are any other new accounting pronouncements that have been
issued that might have a material impact on its financial position or results of
operations.

Item 3.    Quantitative and Qualitative
Disclosures About Market Risk.

Not Applicable

Item 4.    Controls and Procedures.

Disclosure Controls and Procedures

As required by paragraph (b) of Rules 13a-15 or 15d-15 under
the Exchange Act, our principal executive officer and principal financial
officer evaluated our companys disclosure controls and procedures (as defined
in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the
period covered by this quarterly report on Form 10-Q. Based on this evaluation,
these officers concluded that as of the end of the period covered by this
quarterly report on Form 10-Q, these disclosure controls and procedures were not
effective to ensure that the information required to be disclosed by our company
in reports it files or submits under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the rules and forms
of the Securities and Exchange Commission and include controls and procedures
designed to ensure that such information is accumulated and communicated to our
companys management, including our companys principal executive officer and
principal financial officer, to allow timely decisions regarding required
disclosure. The conclusion that our disclosure controls and procedures were not
effective was due to the presence of the following material weaknesses in
internal control over financial reporting which are indicative of many small
companies with small staff: (i) inadequate segregation of duties and effective
risk assessment; (ii) insufficient written policies and procedures for
accounting and financial reporting with respect to the requirements and
application of both US GAAP and SEC guidelines; (iii) inadequate security and
restricted access to computer systems including insufficient disaster recovery
plans; (iv) no written whistle-blower policy; (v) inadequate knowledge to
address complex accounting and tax issues that may arise; and (vi) risk to our
company as a going concern in the event the sole executive officer of our
company is unable to fulfill this role due to death or incapacitation.
Management anticipates that such disclosure controls and procedures will not be
effective until the material weaknesses are remedied.

---

- 8 -

Our company plans to take steps to enhance and improve the
design of our internal controls over financial reporting. During the period
covered by this quarterly report on Form 10-Q, we have not been able to
remediate the material weaknesses identified above. To remediate such
weaknesses, we plan to implement the following changes during our fiscal year
ending December 31, 2011: (i) appoint additional qualified personnel to address
inadequate segregation of duties and ineffective risk management; (ii) adopt
sufficient written policies and procedures for accounting and financial
reporting and a whistle-blower policy; and (iii) implement sufficient security
and restricted access measures regarding our computer systems and implement a
disaster recovery plan. The remediation efforts set out in (i) and (iii) are
largely dependent upon our company securing additional financing to cover the
costs of implementing the changes required. If we are unsuccessful in securing
such funds, remediation efforts may be adversely effected in a material
manner.

Because of the inherent limitations in all control systems, no
evaluation of controls can provide absolute assurance that all control issues,
if any, within our company have been detected. These inherent limitations
include the realities that judgments in decision-making can be faulty and that
breakdowns can occur because of simple error or mistake.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal controls over
financial reporting that occurred during the quarter ended September 30, 2010
that have materially affected, or are reasonably likely to materially affect,
our internal controls over financial reporting.

PART II - OTHER INFORMATION

Item 1.       Legal
Proceedings.

We know of no material, active or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial shareholder,
is an adverse party or has a material interest adverse to our interest.

Item 1A.   Risk Factors

Much of the information included in this quarterly report
includes or is based upon estimates, projections or other forward looking
statements. Such forward looking statements include any projections and
estimates made by us and our management in connection with our business
operations. While these forward-looking statements, and any assumptions upon
which they are based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections, assumptions
or other future performance suggested herein.

Such estimates, projections or other forward looking statements
involve various risks and uncertainties as outlined below. We caution the reader
that important factors in some cases have affected and, in the future, could
materially affect actual results and cause actual results to differ materially
from the results expressed in any such estimates, projections or other forward
looking statements.

We have had negative cash flows from operations and if we
are not able to obtain further financing, our business operations may fail.

We had cash in the amount of $nil and a working capital deficit
of $152,214 as of September 30, 2010. We do not have sufficient funds to
independently finance the acquisition of suitable business opportunities, nor do
we have the funds to independently finance our daily operating costs. We do not
expect to generate any revenues for the foreseeable future. Accordingly, we will
require additional funds, either from equity or debt financing, to maintain our
daily operations and to locate and acquire suitable business opportunities.
Obtaining additional financing is subject to a number of factors, including
market acceptance of projects, investor acceptance of any business opportunity
we may acquire in the future, and investor sentiment. Financing, therefore, may
not be available on acceptable terms, if at all. The most likely source of
future funds presently available to us is through the sale of equity capital.
Any sale of share capital, however, will result in dilution to existing
shareholders. If we are unable to raise additional funds when required, we may
be forced to delay our plan of operation and our entire business may fail.

---

- 9 -

We currently do not generate revenues, and as a result, we
face a high risk of business failure.

We do not hold an interest in any business or revenue
generating property. From the date of our incorporation, we have primarily
focused on the location and acquisition of mineral and oil and gas properties.
We have not generated any revenues to date. In order to generate revenues, we
will incur substantial expenses in the location, acquisition and development of
a prospective property or the acquisition of a suitable business. We therefore
expect to incur significant losses into the foreseeable future. We recognize
that if we are unable to generate significant revenues from our activities, our
entire business may fail. There is no history upon which to base any assumption
as to the likelihood that we will be successful in our plan of operation, and we
can provide no assurance to investors that we will generate any operating
revenues or achieve profitable operations.

In our managements report on internal controls over
financial reporting, we identified a number of material weaknesses related to
our internal control over financial reporting and concluded that our internal
control over financial reporting and disclosure controls and procedures were
ineffective as of September 30, 2010. These material weaknesses remain
unremedied, which could continue to impact our ability to report results of
operations and financial condition accurately and in a timely manner.

We have identified a number of material weaknesses in our
internal control over financial reporting. Our management assessed the
effectiveness of our internal control over financial reporting and disclosure
controls and procedures as at September 30, 2010 pursuant to Section 404 of the
Sarbanes-Oxley Act of 2002 and the related SEC rules and concluded that our
internal control over financial reporting and disclosure controls and procedures
were not effective as at September 30, 2010. Specifically, they concluded that
six material weaknesses existed as at September 30, 2010 which are set out in
Item 4 under the heading Controls and Procedures. Although we intend to
remediate such material weaknesses as set out in Item 4, we have not yet been
able to address these material weaknesses and they may continue to remain
unremedied for some time, which could adversely impact the accuracy and
timeliness of future reports and filings we make to the SEC and could have a
material adverse effect on our business, results of operations, financial
condition and liquidity.

If we are unable to hire and retain key personnel, we may
not be able to implement our plan of operation and our business may
fail.

Our success will be largely dependent on our ability to hire
and retain highly qualified personnel. This is particularly true in the highly
technical businesses of mineral and oil and gas exploration. These individuals
may be in high demand and we may not be able to attract the staff we need. In
addition, we may not be able to afford the high salaries and fees demanded by
qualified personnel, or we may fail to retain such employees after they are
hired.

At present, we have not hired any key personnel. Our failure to
hire key personnel when needed will have a significant negative effect on our
business.

Our directors and sole officer are engaged in other business
activities and accordingly may not devote sufficient time to our business
affairs, which may affect our ability to conduct operations and generate
revenues.

Our two directors and sole officer are involved in other
business activities. Raymond Irvine, our president, secretary, treasurer and a
director, spends approximately 15 hours, or 33%, of his business time on the
management of our company and Howard Dahl, a director, spends approximately 10
hours, or 20%, of his business time on the management of our company. As a
result of their other business endeavors, Mr. Irvine and Mr. Dahl may not be
able to devote sufficient time to our business affairs, which may negatively
affect our ability to conduct our ongoing operations and our ability to generate
revenues. In addition, the management of our company may be periodically
interrupted or delayed as a result of Mr. Irvines or Mr. Dahls other business
interests.

Our common stock is illiquid and shareholders may be unable
to sell their shares.

There is currently no market for our common stock and we can
provide no assurance to investors that a market will develop. If a market for
our common stock does not develop, our shareholders may not be able to re-sell
the shares of our common stock that they have purchased and they may lose all of
their investment. Public announcements regarding our company, changes in
government regulations, conditions in our market segment or changes in earnings
estimates by analysts may cause the price of our common shares to fluctuate
substantially. In addition, stock prices for junior mining and oil and gas companies fluctuate widely for reasons that may
be unrelated to their operating results. These fluctuations may adversely affect
the trading price of our common shares.

---

- 10 -

Penny stock rules will limit the ability of our stockholders
to sell their stock.

The Securities and Exchange Commission has adopted regulations
which generally define penny stock to be any equity security that has a market
price (as defined) less than $5.00 per share or an exercise price of less than
$5.00 per share, subject to certain exceptions. Our securities are covered by
the penny stock rules, which impose additional sales practice requirements on
broker-dealers who sell to persons other than established customers and
accredited investors. The term accredited investor refers generally to
institutions with assets in excess of $5,000,000 or individuals with a net worth
in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly
with their spouse. The penny stock rules require a broker-dealer, prior to a
transaction in a penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document in a form prepared by the Securities and
Exchange Commission which provides information about penny stocks and the nature
and level of risks in the penny stock market. The broker-dealer also must
provide the customer with current bid and offer quotations for the penny stock,
the compensation of the broker-dealer and its salesperson in the transaction and
monthly account statements showing the market value of each penny stock held in
the customers account. The bid and offer quotations, and the broker-dealer and
salesperson compensation information, must be given to the customer orally or in
writing prior to effecting the transaction and must be given to the customer in
writing before or with the customers confirmation. In addition, the penny stock
rules require that prior to a transaction in a penny stock not otherwise exempt
from these rules, the broker-dealer must make a special written determination
that the penny stock is a suitable investment for the purchaser and receive the
purchasers written agreement to the transaction. These disclosure requirements
may have the effect of reducing the level of trading activity in the secondary
market for the stock that is subject to these penny stock rules. Consequently,
these penny stock rules may affect the ability of broker-dealers to trade our
securities. We believe that the penny stock rules discourage investor interest
in and limit the marketability of our common stock.

The Financial Industry Regulatory Authority, or FINRA, has
adopted sales practice requirements which may also limit a shareholders ability
to buy and sell our stock.

In addition to the penny stock rules described above, FINRA
has adopted rules that require that in recommending an investment to a customer,
a broker-dealer must have reasonable grounds for believing that the investment
is suitable for that customer. Prior to recommending speculative low priced
securities to their non-institutional customers, broker-dealers must make
reasonable efforts to obtain information about the customers financial status,
tax status, investment objectives and other information. Under interpretations
of these rules, FINRA believes that there is a high probability that speculative
low priced securities will not be suitable for at least some customers. FINRA
requirements make it more difficult for broker-dealers to recommend that their
customers buy our common stock, which may limit your ability to buy and sell our
stock and have an adverse effect on the market for its shares.

Item 2.    Unregistered Sales of Equity
Securities and Use of Proceeds

None.

Item 3.    Defaults Upon Senior
Securities.

None.

Item 4.    (Removed and Reserved).

Item 5.    Other Information

None.

---

- 11 -

Item 6.    Exhibits.

|Exhibit | Description                                                                                                                         
|------- | ------------------------------------------------------------------------------------------------------------------------------------
|Number  |                                                                                                                                     
|3.0     | (i) Articles of
      Incorporation; and (ii) Bylaws                                                                                
|3.1     | Articles of Incorporation (incorporated by
      reference from our Registration Statement on Form SB-2 filed on May 15,
      2007)
|3.2     | Bylaws (incorporated by
      reference from our Registration Statement on Form SB-2 filed on May 15,
      2007)                   
|(31)    | Rule 13a-14(a)/15d-14(a) Certifications                                                                                             
|31.1*   | Section 302 Certification under
      Sarbanes-Oxley Act of 2002 of Raymond Irvine                                                  
|(32)    | Section 1350 Certifications                                                                                                         
|32.1*   | Section 906 Certification under
      Sarbanes-Oxley Act of 2002 of Raymond Irvine                                                  

* Filed herewith.

---

- 12 -

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.

TECKMINE INDUSTRIES, INC.

/s/ Raymond IrvineRaymond IrvinePresident, Secretary, Treasurer and
Director(Principal Executive Officer, Principal Financial Officer and
Principal Accounting Officer) Dated: November 15, 2010

---