FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


[X]     Quarterly  report  pursuant  to  section  13  or 15(d) of the Securities
        Exchange  Act  of  1934
        For  the  fiscal  quarter  ended  March  31,  2003  or
[ ]     Transition  report  pursuant  to section 13 or 15(d) of the Securities
        Exchange  Act  of  1934
        For  the  transition  period  from  ___________  to  ____________

Commission  file  number  0-10229

                              NORTHWEST GOLD, INC
--------------------------------------------------------------------------------
              (Exact Name of Company as Specified in its Charter)

Wyoming                                            83-0384984
-------------------------------------              -----------------------------
(State  or  other  jurisdiction  of                (I.R.S.  Employer
incorporation  or  organization)                   Identification  No.)

877  North  8th  West,  Riverton,  WY              82501
-------------------------------------              -----------------------------
(Address of principal executive offices)           (Zip  Code)

Company's telephone number, including area code:   (307) 856-9271
                                                   -----------------------------

                                      NONE
--------------------------------------------------------------------------------
      Former name, address and fiscal year, if changed since last report)

     Indicate  by  check  mark  whether  the  Company  (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 Company
was  required  to  file  such  reports), and (2) has been subject to such filing
requirements  for  the  past  90  days.

                                  YES X NO
                                     ---   ---

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

          Class                              Outstanding  at  May  9,  2003
---------------------------------            -----------------------------------
Common  stock,  $.01  par  value                     7,809,794  Shares


<PAGE>
                              NORTHWEST GOLD, INC.

                                      INDEX

                                                                       Page  No.
PART  I.     FINANCIAL  INFORMATION

ITEM  1.     Financial  Statements.

             Condensed  Balance  Sheets
               March  31,  2003  and  December  31,  2002                      3

             Condensed  Statements  of  Operations
               Three  Months  Ended  March  31,  2003  and  2002               4

             Condensed  Statements  of  Cash  Flows
               Three  Months  Ended  March  31,  2003  and  2002               5

             Notes  to  Condensed  Financial  Statements                       6

ITEM  2.     Management's  Discussion  and  Analysis  of
               Financial  Condition  and  Results  of  Operations            7-8

ITEM  4.     Controls  and  Procedures                                         8

PART  II.    OTHER  INFORMATION

ITEM  1.     Legal  Proceedings                                                9

ITEM  6.     Exhibits  and  Reports  on  Form  8-K                             9

             Signatures                                                        9

             Certifications                                                10-11


<PAGE>
                              NORTHWEST GOLD, INC.

                          PART I. FINANCIAL INFORMATION

     ITEM  1.     FINANCIAL  STATEMENTS

                            CONDENSED BALANCE SHEET
                                 MARCH 31, 2003
                                  (UNAUDITED)

                                     ASSETS
<TABLE>
<CAPTION>

     CURRENT  ASSETS:
<S>                                                 <C>
       Cash and cash equivalents                         $    10,000
       Marketable equity securities                            7,800
                                                         ------------
     TOTAL CURRENT ASSETS                                     17,800

     PROPERTIES AND EQUIPMENT
       Exploration Equipment                                  29,000
       Less accumulated depreciation                         (29,000)
                                                          -----------

     OTHER ASSETS                                              1,800
                                                         $    19,600
                                                         ============


                      LIABILITIES AND SHAREHOLDERS' EQUITY

     CURRENT LIABILITIES:
       Accounts Payable                                  $    52,600

     SHAREHOLDERS' EQUITY
       Common stock, $.001 par value;
          Unlimited shares authorized
          7,809,794 shares issued & outstanding,               7,800
       Additional paid-in capital                          1,903,900
       Accumulated deficit                                (1,946,300)
       Unrealized holding gain on marketable securities        1,600
     TOTAL SHAREHOLDERS' EQUITY                              (33,000)
                                                         ------------
                                                         $    19,600
                                                         ============
</TABLE>


<PAGE>
                              NORTHWEST GOLD, INC.

                       CONDENSED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
<TABLE>
<CAPTION>

                                   THREE MONTHS ENDED
                                        MARCH 31,
                                ------------------------

                                   2003         2002
                                -----------  -----------
<S>                             <C>          <C>
REVENUES:
  Interest                      $       --   $       --


COSTS AND EXPENSES:
  General and administrative         2,500        4,200
                                -----------  -----------


NET LOSS                        $   (2,500)  $   (4,200)
                                ===========  ===========

LOSS PER SHARE                           *            *
                                ===========  ===========

WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING          7,809,794    7,809,794
                                ===========  ===========

*   Less than $0.01 per share.
</TABLE>


<PAGE>
                              NORTHWEST GOLD, INC.

                       CONDENSED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
<TABLE>
<CAPTION>

                                                 THREE MONTHS ENDED
                                                     MARCH 31,
                                                 ------------------

                                                   2003      2002
                                                 --------  --------
<S>                                              <C>       <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net (loss) income                              $(2,500)  $(4,100)
  Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
  Increase in accounts payable - affiliate         2,500     4,100
                                                 --------  --------

NET CASH USED IN OPERATING ACTIVITIES                 --        --
                                                 --------  --------

NET DECREASE IN CASH
  AND CASH EQUIVALENTS                                --        --

CASH AND CASH EQUIVALENTS AT
  BEGINNING OF PERIOD                             10,000    12,400
                                                 --------  --------

CASH AND CASH EQUIVALENTS AT
  END OF PERIOD                                  $10,000   $12,400
                                                 ========  ========

SUPPLEMENTAL DISCLOSURES:
  Unrealized gain on marketable securities       $ 1,200   $    --
                                                 ========  ========
</TABLE>


<PAGE>
                              NORTHWEST GOLD, INC.

                    NOTES TO CONDENSED FINANCIAL STATEMENTS


     1)     The  Condensed  Balance  Sheets  as of March 31, 2003, the Condensed
Statements  of  Operations  and  Cash Flows for the three months ended March 31,
2003  and 2002, have been prepared by the Company without audit.  In the opinion
of  the  Company,  the accompanying financial statements contain all adjustments
(consisting  of  only normal recurring accruals) necessary to fairly present the
financial  potion  of  the  Company  as  of  March  31,  2003 and the results of
operations  and  cash  flows for the three months ended March 31, 2003 and 2002.

     2)     Certain  information  and  footnote disclosures normally included in
financial statements prepared in accordance with accounting principles generally
accepted  in the United States of America have been condensed or omitted.  It is
suggested  that  these  financial  statements  be  read  in conjunction with the
Company's  December  31,  2002  Form  10-KSB.

     3)     The  results  of operations for the periods ended March 31, 2003 and
2002  are not necessarily indicative of the operating results for the full year.


<PAGE>
                              NORTHWEST GOLD, INC.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         -----------------------------------------------------------------------
         OF  OPERATIONS.
         --------------

LIQUIDITY  AND  CAPITAL  RESOURCES

     The  Company's working capital deficit increased by $1,300 during the three
months  ended March 31, 2003 to a working capital deficit of $34,800 as compared
to  a  working capital deficit of $33,500 at December 31, 2002.  The decrease in
working  capital  was  a  result of an increase of $2,500 in accounts payable to
affiliates.  The  increase  in accounts payable was as a result of the Company's
parent, U.S. Energy Corp. ("USE") paying certain administrative fees for Company
and a management fee of $500 per month.  This increase was offset by an increase
of  $1,200  in  the  value of the Company's marketable securities during for the
three  months  ended  March  31,  2003.

     The  Company  anticipates  that  it  will not be able to meet its operating
requirements  for  the  year  ending December 31, 2002 unless it can continue to
rely  upon  USE  to advance funds for its administrative costs and expenses.  To
continue  operating long-term, the Company must favorably negotiate the terms of
its  debt  to  USE  and  develop  operations  that  generate cash flow.  USE has
notified the management of the company that it is negotiating with third parties
who  have  expressed  an  interest  in  purchasing  all  or  a majority of USE's
ownership  position  in  the  Company.

RESULTS  OF  OPERATIONS

     The  Company  recognized  no  revenues during the three month periods ended
March  31,  2003  and  2002.

     General  and  administrative  costs  decreased  by  $1,700 during the three
months ended March 31, 2003 from the period ending March 31, 2002.  The decrease
was  primarily  as a result of contract services related to the Company's common
stock  listing  that were incurred during the three months ended March 31, 2002.
Similar  contract services were not incurred during the three months ended March
31,  2003.  Operations  resulted  in losses of $2,500 for the three months ended
March  31,  2003  and  $4,200  for  the  period  ended  March  31,  2002.

     The  Company's  operations  consist  primarily of administrative activities
associated  with  the  preparation  of  reports  and  documents required by law.

ITEM 3.  CONTROLS  AND  PROCEDURES

     In  the 90 day period before the filing of this report, the chief executive
and  chief financial officers of the Company have evaluated the effectiveness of
the Company's disclosure controls and procedures.  These disclosure controls and
procedures  are  those  controls  and  other  procedures  we maintain, which are
designed  to  insure that all of the information required to be disclosed by the
Company  in  all its periodic reports filed with the SEC is recorded, processed,
summarized  and  reported,  within the time periods specified in the SEC's rules
and  forms.  Disclosure  controls  and  procedures  include, without limitation,
controls  and  procedures  designed  to  ensure  that information required to be
disclosed  by the Company in its reports filed or submitted under the Securities
Exchange  Act  of  1934  is  accumulated and communicated to Company management,
including  the  chief  executive and chief financial officers of the Company, as
appropriate  to  allow those persons to make timely decisions regarding required
disclosure.

     Subsequent  to  date  when  the  disclosure  controls  and  procedures were
evaluated,  there  have  not  been  any  significant  changes  in  the Company's
disclosure  controls  or procedures or in other factors that could significantly
affect  such  controls  or  procedures.  No significant deficiencies or material
weaknesses in the controls or procedures were detected, so no corrective actions
needed  to  be  taken.

                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL  PROCEEDINGS
          ------------------

     The  Company  is  currently  not  involved  in  any  legal  proceedings.

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

     (a)     Exhibits.

             99.1    Certification  Pursuant  to  Section  1350  of  Chapter  63
                     of  title  18  of  the  United  States  Code

     (b)     REPORTS ON FORM 8-K.  There were no reports filed by the Company on
             Form  8-K  for  the  quarter  ended  March  31,  2003.


<PAGE>
                                   SIGNATURES

     Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the
Company  has  duly  caused  this  report  to  be  signed  on  its  behalf by the
undersigned,  there  unto  duly  authorized.

                                       NORTHWEST  GOLD,  INC.
                                       (Company)



Date:  May  11,  2003                  By:     /s/  Harold  F.  Herron
                                       -----------------------------------------
                                       HAROLD  F.  HERRON,
                                       Chief  Executive  Officer




Date:  May  11,  2003                  By:     /s/  Robert  Scott Lorimer
                                       -----------------------------------------
                                       ROBERT  SCOTT  LORIMER
                                       Principal  Financial  Officer  and
                                       Chief  Accounting  Officer

<PAGE>
                                  CERTIFICATION

     I,  Robert  Scott  Lorimer,  certify  that:

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

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

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

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

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

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

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

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

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

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

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

DATED  this  11th  day  of  May,  2003.




                                         /s/  Robert  Scott  Lorimer
                                       -----------------------------------------
                                       Robert  Scott  Lorimer
                                       Chief  Financial  Officer

<PAGE>
                                  CERTIFICATION

     I,  Harold  F.  Herron,  certify  that:

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

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

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

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

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

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

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

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

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

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

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

DATED  this  11th  day  of  May,  2003.




                                         /s/  Harold  F.  Herron
                                       -----------------------------------------
                                       Harold  F.  Herron
                                       Chief  Executive  Officer


<PAGE>