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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 
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|    | FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 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 000-33195

CAMDEN MINES LIMITED



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

1040 West Georgia 
Suite 1160 
Vancouver, British Columbia 
Canada V6E 4H1

(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 September 30, 2001: 20,352,125

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|CAMDEN MINES LIMITED                 |                              
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|(AN EXPLORATION STAGE ENTERPRISE)    |                              
|BALANCE SHEETS                       |                              
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|ASSETS                               |                              
|                                     | CURRENT ASSETS               
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|                                     | PROPERTY AND EQUIPMENT       
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|                                     | OTHER ASSETS                 
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|                                     | TOTAL ASSETS                 
|LIABILITIES AND STOCKHOLDERS' EQUITY |                              
|                                     | CURRENT LIABILITIES          
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|                                     | COMMITMENTS AND CONTINGENCIES
|                                     | STOCKHOLDERS' EQUITY         
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|                                     | TOTAL LIABILITIES AND        
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See Notes to Interim Financial Statements





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|CAMDEN MINES LIMITED                                                                                                      
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|(An Exploration Stage Enterprise)                                                                                         
|STATEMENT OF STOCKHOLDERS' EQUITY                                                                                         
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|Issuance of common stock for services and in payment of advances for approximately $0.055 per share                       
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|Cancellation of common stock returned by directors for services and payment of advances for approximately $0.055 per share
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|Issuance of common stock for services and in payment of advances for approximately $0.055 per share                       
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|Loss for period ending June 30, 2000                                                                                      
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|Balance, June 30 , 2000                                                                                                   
|Sale of common stock for cash at $0.10 per share                                                                          
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|Cancellation of common stock returned for services and payment of advances                                                
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|Issuance of common stock for four-for-one stock dividend at par value                                                     
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|Net loss for the year ended June 30, 2001                                                                                 
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|Balance, June 30, 2001                                                                                                    
|Net loss for the period ending                                                                                            
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|Balance, September 30, 2001                                                                                               
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See Notes to Interim Financial Statements





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|CAMDEN MINES LIMITED                       
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|(AN EXPLORATION STAGE ENTERPRISE)          
|STATEMENTS OF CASH FLOWS                   
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|CASH FLOWS FROM OPERATING ACTIVITIES       
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|Net cash (used) in operating activities    
|CASH FLOWS FROM INVESTING ACTIVITIES       
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|Net cash flows used in investing activities
|CASH FLOWS FROM FINANCING ACTIVITIES       
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|Net cash provided by financing activities  
|Change in cash                             
|Cash, beginning of period                  
|Cash, end of period                        
|Supplemental disclosures:                  
|Interest paid                              
|Income taxes paid                          
|NON-CASH TRANSACTIONS                      
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See Notes to Interim Financial Statements





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CAMDEN MINES LIMITED
(An Exploration Stage Company)
September 30, 2001

NOTES TO INTERIM FINANCIAL STATEMENTS

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1.

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 period ended September 30, 2001 are not necessarily indicative of the results that may be expected for the year ending June 30, 2002.





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MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 
CONDITION AND RESULTS 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 September 30, 2001, we had positive working capital of $16,321 compared to positive working capital of $17,383 at September 30, 2000.

At September 30, 2001, our Company's total assets of $29,050 consist of mainly cash and office equipment. This compares with our Company's assets at September 30, 2000 of $54,744, which consisted of mainly cash.

At September 30, 2001, our Company's total liabilities decreased to $5,688 from $36,896 at September 30, 2000, primarily due to repayment of related party loans and payables, and a decline 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 $8,029 for the three months ending September 30, 2001. The principal components of the loss were professional expenses.

Operating expenses for the three months ending September 30, 2001 were $8,029.





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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 5th day of November, 2001.

CAMDEN MINES LIMITED
(Registrant)

By: /s/ Hugh Grenfal
Hugh Grenfal, President, Treasurer, Principal Accounting Officer and a member of the Board of Directors