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UNITED STATES SECURITIES AND EXCHANGE COMMISSION  
Washington, DC 20549

FORM 10QSB



|[X] | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities  Exchange Act of 1934
|--- | ----------------------------------------------------------------------------------------
|    | FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2001                                        
|    | 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 333-35332

CAMDEN MINES LIMITED(Exact name of registrant as specified in its charter)



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

1040 West Georgia 
Suite 1160 
Vancouver, British Columbia 
Canada V6E 4H1 (Address of principal executive offices)

(604) 605-0885 (Registrant's telephone number, including area code)

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 the number of shares outstanding of each of the issuer's classes of common stock, as of December 31, 2001: 20,352,125

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PART I.

ITEM 1. - Financial Statements

|CAMDEN MINES LIMITED
(An Exploration Stage Enterprise)
BALANCE SHEETS                                   
|--------------------------------------------------------------------------------------------------------
|                                                                                                        
|ASSETS                                                                                                  
|CURRENT ASSETS                                                                                          
|Cash                                                                                                    
|Receivable from related party                                                                           
|                                                                                                        
|PROPERTY AND EQUIPMENT                                                                                  
|Office equipment                                                                                        
|Less:  accumulated depreciation                                                                         
|                                                                                                        
|OTHER ASSETS                                                                                            
|Deposits                                                                                                
|Mining claims                                                                                           
|                                                                                                        
|TOTAL ASSETS                                                                                            
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                                    
|CURRENT LIABILITIES                                                                                     
|Accounts payable                                                                                        
|                                                                                                        
|COMMITMENTS AND CONTINGENCIES                                                                           
|STOCKHOLDERS' EQUITY                                                                                    
|Common stock, 100,000,000 shares authorized,
$0.00001 par value 20,352,125 shares issued and outstanding
|Additional paid-in capital                                                                              
|Deficit accumulated during exploration stage                                                            
|                                                                                                        
|TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                              

See notes to interim financial statements



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|CAMDEN MINES LIMITED
(An Exploration Stage Enterprise)
STATEMENTS OF OPERATIONS
|-------------------------------------------------------------------------------
|                                                                               
|Three Months Ended
December 31,                                                
|2001
(Unaudited)                                                               
|REVENUES                                                                       
|OPERATING EXPENSES                                                             
|Consulting services provided by directors                                      
|Rent                                                                           
|General and administrative                                                     
|Legal and accounting                                                           
|Depreciation                                                                   
|Mining exploration                                                             
|Travel                                                                         
|                                                                               
|LOSS BEFORE INCOME TAXES                                                       
|INCOME TAXES                                                                   
|NET LOSS                                                                       
|NET LOSS PER COMMON SHARE,
BASIC AND DILUTED                                   
|WEIGHTED AVERAGE NUMBER OF 
COMMON STOCK SHARES
OUTSTANDING, BASIC AND DILUTED 



See notes to interim financial statements

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|CAMDEN MINES LIMITED
(AN EXPLORATION STAGE ENTERPRISE)
STATEMENT OF STOCKHOLDERS' EQUITY                                  
|--------------------------------------------------------------------------------------------------------------------------
|                                                                                                                          
|                                                                                                                          
|Total 
Stockholders' 
Equity                                                                                              
|                                                                                                                          
|Issuance of common stock for
services and in payment of
advances for approximately
$0.055 per share                       
|                                                                                                                          
|Cancellation of common stock
returned by directors for
services and payment of
advances for approximately
$0.055 per share
|                                                                                                                          
|Issuance of common stock for
services and in payment of
advances for approximately
$0.055 per share                       
|                                                                                                                          
|Loss for period ending,
June 30, 2000                                                                                     
|                                                                                                                          
|Balance, June 30, 2000                                                                                                    
|                                                                                                                          
|Issuance of common stock for
cash at $0.10 per share                                                                      
|                                                                                                                          
|Cancellation of common stock
returned for services and
payment of advance                                                 
|                                                                                                                          
|Issuance of common stock for
four-for-one stock dividend
at par                                                           
|                                                                                                                          
|Net loss for the year ended 
June 30, 2001                                                                                
|                                                                                                                          
|Balance, June 30, 2001                                                                                                    
|                                                                                                                          
|Net loss for the six months
ended December 31, 2001                                                                       
|                                                                                                                          
|Balance, December 31,
2001 (Unaudited)                                                                                    

See notes to interim financial statements

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|CAMDEN MINES LIMITED
(AN EXPLORATION STAGE COMPANY)
STATEMENTS OF CASH FLOWS
|----------------------------------------------------------------------------
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|CASH FLOWS FROM OPERATING ACTIVITIES                                        
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|                                                                            
|Net cash provided (used) by operating activities                            
|                                                                            
|CASH FLOWS FROM INVESTING ACTIVITIES:                                       
|                                                                            
|Net cash flows used in investing activities                                 
|                                                                            
|CASH FLOWS FROM FINANCING ACTIVITIES                                        
|                                                                            
|                                                                            
|Net cash provided by financing activities                                   
|                                                                            
|Change in cash                                                              
|                                                                            
|Cash, beginning of period                                                   
|                                                                            
|Cash, end of period                                                         
|                                                                            
|SUPPLEMENTAL CASH FLOW DISCLOSURES:                                         
|                                                                            
|                                                                            
|                                                                            
|NON-CASH TRANSACTIONS:                                                      
|                                                                            
|                                                                            
|                                                                            
|                                                                            

See notes to interim financial statements

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CAMDEN MINES LIMITED
(An Exploration Stage Company)
December 31, 2001

NOTES TO INTERIM FINANCIAL STATEMENTS
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1.   BASIS OF PRESENTATION

The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB and Regulation S-B as promulgated by the Securities and Exchange Commission.  Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles for complete financial statements.   These unaudited interim financial statements should be read in conjunction with the audited financial statements for the period ended June 30, 2001.  In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented.

The preparation of financial statements in accordance with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period.  Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial   statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions that could have a material effect on the reported amounts of the Company's financial position and results of operations.

Operating results for the three-month and six-month periods ended December 31, 2001 are not necessarily indicative of the results that may be expected for the year ending June 30, 2002.



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

Financial Condition, Liquidity and Capital Resources

Since inception on September 14, 1999, our Company has been engaged in exploration and acquisition of mineral properties. Our Company's principal capital resources have been acquired through issuance of common stock and from shareholder loans.

At December 31, 2001, we had positive working capital of $12,655 compared to positive working capital of $23,677 at June 30, 2001.

At December 31, 2001, our Company's total assets of $20,718 consist of mainly cash and office equipment. This compares with our Company's assets at June 30, 2001 of $31,191, likewise consisting of mainly cash and office equipment.



At December 31, 2001, our Company's total liabilities were only $1,695, an increase from nil at June 30th, 2001 due to a rise in accounts payable.

Our Company has not had revenues from inception. Although there is insufficient capital to fully explore and develop its mineral properties, our Company expects to survive and exploit its resources primarily with funding from sales of its securities and, as necessary, from shareholder loans.

Our Company has no long-term debt and does not regard long-term borrowing as a good, prospective source of financing.

Results of Operations

Our Company posted a loss of $12,368 for the six months ending December 31, 2001. The principal components of the loss were professional expenses and, to a lesser degree, general and administrative expenses.

Operating expenses for the six months ending December 31, 2001 were likewise $12,368.

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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 on this 29th day of January, 2002.