QUARTERLY REPORT ON FORM 10QSB FOR THE QUARTER ENDED SEPTEMBER 30, 2003

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

                               FORM 10-QSB

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

     For the Quarterly Period Ended September 30, 2003

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

     For the transition period from _________ to _________

                    Commission File Number:  333-35332


                             CAMDEN MINES LIMITED
      -----------------------------------------------------------------
      (Exact name of small business issuer as specified in its charter)

                     Nevada                            88-0437644
           -------------------------------       ----------------------
           (State or other jurisdiction of       (IRS Employer
           incorporation or organization)        Identification Number)


                    1040 West Georgia Street, suite 1160
	            Vancouver, BC Canada V6E 4H1
                -------------------------------------------
                  (Address of principal executive offices)

               Issuer's telephone number:  604-605-0885



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

As of November 12, 2003 the Company had 20,352,125 shares of common stock
issued and outstanding.

Transitional Small Business Disclosure Format:  Yes [ ]  No [X]

Documents incorporated by reference:  None.







PART I.   FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS



Camden Mines Limited
(An Exploration Stage Company)
Balance Sheets
(expressed in U.S. dollars)


					September 30,2002			June 30,2003
					$					$
					(unaudited)				(audited)

ASSETS

Current Assets

Cash						296				1,328
Deposits					411				  411

Total Current Assets				707		                1,739

Property and Equipment (Note 4)			1,195				1,867

Mineral Properties (Note 3)	  		   54				   54

Total Assets					1,956				3,660

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current Liabilities

Accounts payable				2,111				2,711
Accrued liabilities				4,350				5,250
Advances from related party (Note 5(b))		6,135				4,635

Total Liabilities			       12,596			       12,596

Contingency (Note 1)


Stockholders' Equity (Deficit)

Common Stock, 100,000,000 shares
authorized with a par value of
$0.00001; 20,352,125 shares issued
and outstanding					    204				 204

Additional Paid-in Capital			354,502			      354,502

						354,706			      354,706

Deficit Accumulated During the
Exploration Stage				(365,346)		     (363,642)

Total Stockholders' Equity (Deficit)		 (10,640)		       (8,936)

Total Liabilities and Stockholders' Equity	   1,956		        3,660





Camden Mines Limited
(An Exploration Stage Company)
Statements of Operations
(expressed in U.S. dollars)
(unaudited)


					Accumulated from
					September 14, 1999
					(Date of Inception)		Three Months Ended
					to September 30,		September 30,
						2003			2003		2002
						$			$		$

Revenue


Expenses

Amortization					6,572			673		673
Consulting				      245,462
General and administration		       29,682			 16	        412
Mining exploration				5,438			390
Professional fees			       58,241			600	      5,475
Rent						9,452
Transfer agent and filing fees			  100			 25		25
Travel						5,930

					      360,877		       1,704          6,585

Net Loss for the Period		    	    (360,877)		      (1,704)	     (6,585)


Net Loss Per Share   Basic


Weighted Average Shares Outstanding				   20,352,000     20,352,000


(Diluted loss per share has not been presented as the result is anti-dilutive)



Camden Mines Limited
(An Exploration Stage Company)
Statements of Cash Flows
(expressed in U.S. dollars)
(unaudited)


							Three Months Ended
							September 30,
							2003		2002
							$		$

Cash Flows To Operating Activities

Net loss						(1,705)		(6,585)

Adjustment to reconcile net loss to cash

Amortization						   673		   673

Changes in non-cash working capital items

Increase in accounts payable and accrued liabilities	  1,500		 4,139

Net Cash Used In Operating Activities			    468		(1,773)

Cash Flows From Financing Activities

Advances (to) from related party			(1,500)

Net Cash Provided By Financing Activities

Net Cash Used in Investing Activities

Net Decrease in Cash					(1,032)		(1,773)

Cash   Beginning of Period				 1,328		 3,818

Cash   End of Period					   296		 2,045

Non-Cash Financing Activities

Supplemental Disclosures

Interest paid
Income taxes paid



1.	Exploration Stage Company

The Company was incorporated in the State of Nevada on September 14, 1999. In
September 1999 the Company purchased eight mineral claims, situated in the
Iron Wolf property, Nanaimo Mining Division, Vancouver Island, British
Columbia, Canada.

The Company's principal business plan is to acquire, explore and develop
mineral properties and to ultimately seek earnings by exploiting the mineral
claims.

The Company has been in the exploration stage since its formation in September
1999 and has not yet realized any revenues from its planned operations. It is
primarily engaged in the acquisition, exploration and development of mining
properties. Upon location of a commercial mineable reserve, the Company will
actively prepare the site for extraction and enter a development stage. At
present, management devotes most of its activities to raise sufficient funds
to further explore and develop its mineral properties. Planned principal
activities have not yet begun. The ability of the Company to emerge from the
exploration stage with respect to any planned principal business activity is
dependent upon its successful efforts to raise additional equity financing
and/or attain profitable mining operations. Management has plans to seek
additional capital through a private placement and public offering of its
common stock. There is no guarantee that the Company will be able to complete
any of the above objectives. These factors raise substantial doubt regarding
the Company's ability to continue as a going concern.

At September 30, 2003, the Company had a working capital deficit of $11,889. A
minimum of $4,000 per quarter is needed to cover expenses. Thus in the next
year the Company will require $27,889 to cover both new expenses and the
current working capital deficit. This amount would operate the Company but
leave little or nothing for exploration. The Company expects to fund itself in
the next twelve months by sales of shares.

The Company filed an SB-2 Registration Statement with the U.S. Securities
Exchange Commission which has been declared effective and has been completed.


2.	Summary of Significant Accounting Principles

a)	Year End

The Company's year end is June 30.

b)	Basis of Accounting

These financial statements are prepared in conformity with accounting
principles generally accepted in the United States and are presented in US
dollars.

c)	Use of Estimates

The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.

d)	Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three
months or less at the time of issuance to be cash equivalents.

2.	Summary of Significant Accounting Principles (continued)

e)	Long-Lived Assets

SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets"
establishes a single accounting model for long-lived assets to be disposed of
by sale including discontinued operations. SFAS 144 requires that these long-
lived assets be measured at the lower of the carrying amount or fair value
less cost to sell, whether reported in continuing operations or discontinued
operations.

f)	Property and Equipment

Property and equipment are stated at cost. Amortization is computed using the
straight-line method over the estimated useful lives of the related assets,
which range from five to seven years.

g)	Foreign Currency Transactions/Balances

The Company's functional currency is the United States dollar. Occasional
transactions occur in Canadian currency, and management has adopted SFAS No.
52, "Foreign Currency Translation". Monetary assets and liabilities
denominated in foreign currencies are translated into United States dollars at
rates of exchange in effect at the balance sheet date. Non-monetary assets,
liabilities and items recorded in income arising from transactions denominated
in foreign currencies are translated at rates of exchange in effect at the
date of the transaction.

h)	Exploration and Development Costs

The Company has been in the exploration stage since its formation in September
1999 and has not yet realized any revenues from its planned operations. It is
primarily engaged in the acquisition, exploration and development of mining
properties. Mineral exploration costs are expensed as incurred. When it has
been determined that a mineral property can be economically developed as a
result of establishing proven and probable reserves, the costs incurred to
develop such property, are capitalized. Such costs will be amortized using the
units-of-production method over the estimated life of the probable reserve.
Payments related to the acquisition of the land and mineral rights are
capitalized as incurred.

i)	Basic and Diluted Net Income (Loss) Per Share

The Company computes net income (loss) per share in accordance with SFAS No.
128, "Earnings per Share" (SFAS 128). SFAS 128 requires presentation of both
basic and diluted earnings per share (EPS) on the face of the income
statement. Basic EPS is computed by dividing net income (loss) available to
common shareholders (numerator) by the weighted average number of shares
outstanding (denominator) during the period. Diluted EPS gives effect to all
dilutive potential common shares outstanding during the period including stock
options, using the treasury stock method, and convertible preferred stock,
using the if-converted method. In computing Diluted EPS, the average stock
price for the period is used in determining the number of shares assumed to be
purchased from the exercise of stock options or warrants. Diluted EPS excludes
all dilutive potential shares if their effect is anti dilutive.

j)	Financial Instruments

The carrying value of cash, accounts payable, accrued liabilities, and
advances from related party approximate fair value due to the relatively short
maturity of these instruments.

k)	Concentration of Risk

The Company maintains its cash accounts in primarily one commercial bank in
Vancouver, British Columbia, Canada. The Company's cash account is a business
checking account maintained in U.S. dollars, which totalled $296 in September
30, 2003. This account is not insured.

2.	Summary of Significant Accounting Principles (continued)

l)	Comprehensive Loss

SFAS No. 130, "Reporting Comprehensive Income," establishes standards for the
reporting and display of comprehensive loss and its components in the
financial statements. As at September 30, 2003 and 2002, the Company has no
items that represent comprehensive loss and, therefore, has not included a
schedule of comprehensive loss in the financial statements.

m)	Recent Accounting Pronouncements

In May 2003, the FASB issued SFAS No. 150, "Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and Equity". SFAS No. 150
establishes standards for how an issuer classifies and measures certain
financial instruments with characteristics of both liabilities and equity. It
requires that an issuer classify a financial instrument that is within its
scope as a liability (or an asset in some circumstances). The requirements of
SFAS No. 150 apply to issuers' classification and measurement of freestanding
financial instruments, including those that comprise more than one option or
forward contract. SFAS No. 150 does not apply to features that are embedded in
a financial instrument that is not a derivative in its entirety. SFAS No. 150
is effective for financial instruments entered into or modified after May 31,
2003, and otherwise is effective at the beginning of the first interim period
beginning after June 15, 2003, except for mandatory redeemable financial
instruments of non-public entities. It is to be implemented by reporting the
cumulative effect of a change in an accounting principle for financial
instruments created before the issuance date of SFAS No. 150 and still
existing at the beginning of the interim period of adoption. Restatement is
not permitted. The adoption of this standard is not expected to have a
material effect on the Company's results of operations or financial position.

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
Compensation   Transition and Disclosure", which amends SFAS No. 123 to
provide alternative methods of transition for a voluntary change to the fair
value based method of accounting for stock-based employee compensation. In
addition, SFAS No. 148 expands the disclosure requirements of SFAS No. 123 to
require more prominent disclosures in both annual and interim financial
statements about the method of accounting for stock-based employee
compensation and the effect of the method used on reported results. The
transition provisions of SFAS No. 148 are effective for fiscal years ended
after December 15, 2002. The disclosure provisions of SFAS No. 148 are
effective for financial statements for interim periods beginning after
December 15, 2002. The transition provisions do not currently have an impact
on the Company's financial position and results of operations as the Company
currently has no stock-based employee compensation.

In June, 2002, FASB issued SFAS No. 146, "Accounting for Costs Associated with
Exit or Disposal Activities". The provisions of this Statement are effective
for exit or disposal activities that are initiated after December 31, 2002,
with early application encouraged. This Statement addresses financial
accounting and reporting for costs associated with exit or disposal activities
and nullifies Emerging Issues Task Force (EITF) Issue No. 94-3, "Liability
Recognition for Certain Employee Termination Benefits and Other Costs to Exit
an Activity (including Certain Costs Incurred in a Restructuring)". This
Statement requires that a liability for a cost associated with an exit or
disposal activity be recognized when the liability is incurred. The Company
adopted SFAS No. 146 on January 1, 2003. The effect of adoption of this
standard on the Company's results of operations and financial position was not
material.

FASB has also issued SFAS No. 145, 147 and 149 but they will not have any
relationship to the operations of the Company therefore a description of each
and their respective impact on the Company's operations have not been
disclosed.

2.	Summary of Significant Accounting Principles (continued)

n)	Interim Financial Statements

These interim unaudited financial statements have been prepared on the same
basis as the annual financial statements and in the opinion of management,
reflect all adjustments, which include only normal recurring adjustments,
necessary to present fairly the Company's financial position, results of
operations and cash flows for the periods shown. The results of operations for
such periods are not necessarily indicative of the results expected for a full
year or for any future period.


3.	Property and Equipment


	Cost					  $8,439
	Accumulated Amortization	          $7,244
 	September 30,2003  Net CarryingValue      $1,195 (unaudited)
	June 30, 2003	   Net Carrying Value	  $1,867 (audited)


4.	Mineral Properties

In September 1999, the Company, through its President and a member of the
board of directors, acquired 100% of the rights, titles and interests in eight
mining claims in the Iron Wolf property, Nanaimo Mining Division, Vancouver
Island, British Columbia, Canada. Payment of $54 was required to record the
eight mining claims. These amounts were paid by the shareholders and repaid by
the Company in the form of stock. The claims were originally purchased by the
President; however, title to the claims has been conveyed to the Company via
an unrecorded deed.


5.	Related Party Transactions/Balances

a)	The Company occupies office space provided by Mr. Grenfal, its
President, in his capacity as vice president and director of Callinan Mines
Limited. Monthly rental is determined by usage. While Mr. Grenfal is no longer
affiliated with Callinan Mines, the Company expects that the office rental
arrangement will continue for at least the next year.

b)	The amount due to the President of the Company is non-interest bearing,
unsecured and due on demand.



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Cautionary Statement Pursuant to Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995:

This Quarterly Report on Form 10-QSB for the quarterly period ended June 30,
2003 contains "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, including statements that include
the words "believes", "expects", "anticipates", or similar expressions.  These
forward-looking statements may include, among others, statements of
expectations, beliefs, future plans and strategies, anticipated events or
trends, and similar expressions concerning matters that are not historical
facts.

The forward-looking statements in this Quarterly Report on Form 10-QSB
for the quarterly period ended September 30, 2003 involve known and unknown
risks,uncertainties and other factors that could the cause actual results,
performance or achievements of the Company to differ materially from those
expressed in or implied by the forward-looking statements contained herein.


Overview:

The Company was incorporated in the State of Nevada on September 14, 1999. In
September 1999 the Company purchased eight mineral claims, the Iron Wolf
property, Nanaimo Mining Division, Vancouver Island, British Columbia, Canada.

The Company's principal business plan is to acquire, explore and develop
mineral properties and to ultimately seek earnings by exploiting mineral
claims. The Company's current efforts are focused on maintaining the corporate
entity and securing new financing.

We are currently in Phase One of our proposed exploration program.

Exploration was carried out on the Iron Wolf properties during the period of
June 4 to June 9, 2001. A program of soil and rock sampling, prospecting and
geological mapping was completed. A second property trip was also done on
August 11, 2001 when a 360 lb rock sample was collected.

The results of our testing for gold were disappointing. However, there was
evidence of the presence of magnetite of unknown quantity and quality, an iron
mineral that has industrial applications. We will investigate further the
magnetite market before deciding if we should conduct further exploration and
testing for this mineral.

Other than the foregoing, we have not conducted any exploration on our property

Planned principal activities have not yet begun. The ability of the Company to
emerge from the exploration stage with respect to any planned principal business
activity is dependent upon its successful efforts to raise additional equity
financing and/or attain profitable mining operations.


PLAN OF OPERATION

In the next twelve months, the Company does not expect any significant
changes in the number of employees and does not expect the purchase or sale
of plant or significant equipment, due to the present shortage of working
capital. We also  have no plan for research and development for any property
or product other than our mineral claims. See above for development
information on the Iron Wolf claims.

At September 30, 2003, the Company had a working capital deficit of
$11,889. A minimum of $4,000 per quarter is needed to cover expenses. Thus
in the next year the Company will require $27,889 to cover both new expenses
and the current working capital deficit. This amount would operate the
Company but leave little or nothing for exploration. The Company expects
to fund itself in the next twelve months by sales of shares.

FACTORS THAT MAY AFFECT FUTURE RESULTS

The ability of the Company to continue to grow and expand its business is
highly dependent upon the ability of the Company to continue to raise
external financing, from the sale of equity and/or the incurrence of debt.
If the Company were unable to obtain debt and/or equity financing upon
terms that were sufficiently favorable to the Company, or at all, it would
have a materially adverse impact upon the ability of the Company to
continue to expand its business and operations, or to implement its
business plan as now contemplated by the Company.


RELIANCE ON KEY MANAGEMENT

The success of the Company is highly dependent upon the continued services of
Hugh Grenfal, its President, Treasurer, Principal Accounting Officer, who is
the primary person responsible for building the Company's business.  If he
were to leave the Company, it could have a materially adverse effect upon the
business and operations of the Company.



ITEM 3.  CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are designed to ensure that information
required to be disclosed in the reports filed or submitted under the Exchange
Act of 1934 is recorded, processed, summarized and reported, within the time
periods specified in the rules and forms of the Securities and Exchange
Commission.  Disclosure controls and procedures include, without limitation,
controls and procedures designed to ensure that information required to be
disclosed in the reports filed under the Exchange Act of 1934 is
accumulated and communicated to the Company's management, including its
principal executive and financial officers, as appropriate, to allow timely
decisions regarding required disclosure.

The Company carried out an evaluation, under the supervision and with the
participation of the Company's management, including its principal executive
and financial officer, of the effectiveness of the design and operation of
the Company's disclosure controls and procedures as of the end of the fiscal
quarter. Based upon and as of the date of that evaluation, the Company's
principal executive and financial officer concluded that the Company's
disclosure controls and procedures are effective to ensure that information
required to be disclosed in the reports the Company files and submits under
the Exchange Act of 1934 is recorded, processed, summarized and reported as
and when required.

(b) Changes in Internal Controls

There were no changes in the Company's internal controls or in other factors
that could have significantly affected those controls subsequent to the date
of the Company's most recent evaluation.



                       PART II.  OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS

None




ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

None



                               SIGNATURES


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


                                                   CAMDEN MINES LIMITED.
                                                   ---------------
                                                     (Registrant)



Date:  November 12, 2003                   By:  __/s/______________________
                                                   Hugh Grenfal
                                                   President, Treasurer,
						   Principal Accounting Officer
					           and a member ofthe Board
                                                   of Directors


                            INDEX TO EXHIBITS


Exhibit
Number     Description of Document
------     -----------------------

 31        Certification pursuant to Section 302 of the Sarbanes-Oxley Act of
           2002

 32        Certification pursuant to Section 906 of the Sarbanes-Oxley Act of
           2002