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
     November 30, 1995 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 Registrant as Specified in its Charter)

     Wyoming                                   81-0384984
---------------------------------------       --------------------
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)

Registrant's telephone Number:                  (307) 856-9278
                                               -------------------
                               NONE
------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed  since
last report)

     Check whether the Registrant:  (1) has filed all reports required
to  be filed by Section 13 or 15(d) of the Securities and 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

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

            Class                   Outstanding at January 4, 1996
-----------------------------       ------------------------------
Common stock, $.001 par value                26,797,500 Shares

Transitional Small Business Disclosure Format (Check One)

                    YES                  NO    X
<PAGE>
                         NORTHWEST GOLD, INC.

                               Index


PART I.    FINANCIAL INFORMATION

  ITEM 1.  Financial Statements

    Condensed Balance Sheets -- November 30, 1995                3

    Condensed Statements of Operations -- Three Months
      and Six Months Ended November 30, 1995
      and November 30, 1994                                      4

    Condensed Statements of Cash Flows for the Six
      Months Ended November 30, 1995 and November 30, 1994       5

    Notes to Condensed Financial Statements                      6

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

PART II.   OTHER INFORMATION

  ITEM 6.  Exhibits and Reports on Form 8-K                      7

  Signatures                                                     8























                                     2
<PAGE>
                         NORTHWEST GOLD, INC.

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements
         --------------------
                          Condensed Balance Sheets
                           November 30, 1995
                              (Unaudited)
                                   
     ASSETS

CURRENT ASSETS:
  Cash and temporary cash investments        $    12,700
  Marketable securities                            9,800
                                             -----------
     TOTAL CURRENT ASSETS                         22,500

PROPERTY AND EQUIPMENT, at cost                    8,700
  Less accumulated depreciation                   (8,700)
                                             -----------
                                                 -0-
OTHER ASSETS                                       1,900
                                             -----------
                                             $    24,400
                                             -----------
                                             -----------

   LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable - affiliates              $    47,200

SHAREHOLDERS' EQUITY
  Common stock, $0.001 par value;
    authorized, 50,000,000 shares;
    issued and outstanding,
    26,797,500                                    26,700
  Additional paid-in capital                   1,788,700
  Accumulated deficit                         (1,841,800)
  Unrealized holding gain on
    marketable equity securities                   3,600
                                             -----------
                                             -----------
                                                 (22,800)
                                             -----------
                                             -----------
                                             $    24,400
                                             -----------
                                             -----------

       See accompanying notes to condensed financial statements.

                                   3
<PAGE>
                         NORTHWEST GOLD, INC.
                                   
                  Condensed Statements of Operations
                              (Unaudited)
                                   

                           Three Months Ended        Six Months Ended
                               November 30,             November 30,
                         ---------------------     -------------------
-
                           1995         1994         1995        1994
                         --------     --------     --------     -------
REVENUES:
  Interest              $    100     $    100     $    200     $    200

COSTS AND EXPENSES:
  General and
    administrative         3,500        1,700        9,300        6,800
                        --------     --------     --------     --------
NET INCOME (LOSS)       $ (3,400)    $ (1,600)    $ (9,100)    $ (6,600)
                        --------     --------     --------     --------
                        --------     --------     --------     --------

INCOME (LOSS)
  PER SHARE             $   *        $   *        $   *        $   *
                        --------     --------     --------     --------
                        --------     --------     --------     --------

WEIGHTED AVERAGE
  NUMBER OF SHARES
  OUTSTANDING         26,797,500   26,797,500   26,797,500   26,797,500
                      ----------   ----------   ----------   ---------
-
                      ----------   ----------   ----------   ---------
-




















       See accompanying notes to condensed financial statements.
                                   
                                   4
<PAGE>
                         NORTHWEST GOLD, INC.
                                   
                  Condensed Statements of Cash Flows
                              (Unaudited)


                                              Six Months Ended
                                                 November 30
                                            ---------------------
                                              1995         1994
                                            --------     --------

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Loss                                  $ (9,100)    $ (6,600)
    Adjustments to reconcile
     net loss to net cash used
     in operating activities:
    Increase in accounts
     payable - affiliate                       9,300        3,000
                                            --------     --------

NET CASH PROVIDED BY (USED IN)
  OPERATING ACTIVITIES                           200       (3,600)

NET INCREASE (DECREASE) IN CASH AND
  CASH EQUIVALENTS                               200       (3,600)

CASH AND CASH EQUIVALENTS AT
  BEGINNING OF PERIOD                         12,500       15,900
                                            --------     --------

CASH AND CASH EQUIVALENTS AT
  END OF PERIOD                             $ 12,700    $  12,300
                                            --------    ---------
                                            --------    ---------















       See accompanying notes to condensed financial statement.
                                   
                                   5
<PAGE>
                         NORTHWEST GOLD, INC.
                                   
                                   
                Notes to Condensed Financial Statements


      1)    The  Condensed Balance Sheet as of November 30, 1995,  the
Condensed Statements of Operations for the three months and six months
ended November 30, 1995 and 1994, and the Condensed Statements of Cash
Flows  for  the six months ended November 30, 1995 and 1994 have  been
prepared  by  the  Registrant without audit.  In the  opinion  of  the
Registrant,   the  accompanying  financial  statements   contain   all
adjustments  (consisting of only normal recurring accruals)  necessary
to  fairly  present  the financial position of the  Registrant  as  of
November 30, 1995, the results of operations for the three months  and
six  months ended November 30, 1995 and 1994, and cash flows  for  the
six months then ended.

      2)    Certain  information  and  footnote  disclosures  normally
included in financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted.  It  is
suggested that these financial statements be read in conjunction  with
the Registrant's May 31, 1995 Form 10-KSB/A.

     3)   The results of operations for the periods ended November 30,
1995 and 1994, are not necessarily indicative of the operating results
for the full year.


























                                   6
<PAGE>

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


Liquidity and Capital Resources

      The  Registrant's liquidity position decreased during  the  most
recently completed six month period.  Continuing losses increased  the
accumulated  deficit  by $9,100 from May 31,  1995.   Working  capital
declined  by  $9,100 as a result of an increase of $9,300 in  accounts
payable  which was partially offset by a net increase in cash of  $200
resulting  from  interest earned on monies held  in  interest  bearing
accounts.

      The  Registrant  anticipates that it will be able  to  meet  its
capital  requirements for the remainder of the  year  ending  May  31,
1996.   However,  the Registrant must secure drilling or  construction
contracts in order to continue operating long term.

Results of Operations

      The  Registrant had no revenues from operations during the three
months  or the six months ended November 30, 1995 or the corresponding
periods of the prior year.  The Registrant did however, recognize $200
in  interest income during the six months ended November 30, 1995  and
1994  ($100 for each of the three months ended November 30,  1995  and
1994).

      General and administrative costs increased for the three  months
and  the  six  months ended November 30, 1995 over  the  corresponding
periods in 1994 due to increased professional fees.

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


                  PART II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K.
          --------------------------------
     (a) Exhibits.  None.

      (b)  Reports  on Form 8-K.  There were no reports filed  by  the
Registrant on Form 8-K for the quarter ended November 30, 1995.






                                   7
<PAGE>                                   
                              SIGNATURES
                                   
                                   
      Pursuant  to  the requirements of Section 13  or  15(d)  of  the
Securities  Exchange Act of 1934, the Registrant has duly caused  this
report  to  be signed on its behalf by the undersigned, hereunto  duly
authorized.

                                    NORTHWEST GOLD, INC.
                                   (Registrant)



Date:  January   4  , 1996    By:   s/ Keith G. Larsen
                                    ------------------------------
                                    KEITH G. LARSEN
                                    Chief Executive Officer



Date:  January   4  , 1996    By:   s/ Robert Scott Lorimer
                                    ------------------------------
                                    ROBERT SCOTT LORIMER,
                                    Principal Financial Officer
                                    and Chief Accounting Officer


























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