# SECURITIES AND
EXCHANGE COMMISSION

# Washington, D.C. 20549

# FORM 10-QSB

(Mark One)

[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 ____________               .

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|                                | 
|------------------------------- | 
|NEVADA                          | 
|(State or other jurisdiction of | 
|incorporation or organization)  | 

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Check whether the registrant: (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  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days.

The number of outstanding shares of the registrant's  common stock,  $0.001
par  value  (the  only  class of  voting  stock),  as of  October  30,  2003 was
6.312.900.

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PART I

|                                                                                                                           | 
|-------------------------------------------------------------------------------------------------------------------------- | 
|ITEM 1.  FINANCIAL STATEMENTS                                                                                              | 
|Unaudited Balance Sheet as of September 30, 2003                                                                           | 
|Unaudited Statement of Operations for the three and nine months ended September 30,2003 and 2002 and the period since Date | 
|of Inception to September 30, 2003                                                                                         | 
|Unaudited Statement of Cash Flows for the nine months ended September 30, 2003 and 2002 and the period since Date          | 
|of Inception to September 30, 2003                                                                                         | 
|Notes to Unaudited Financial Statements                                                                                    | 
|ITEM 2.  MANAGEMENT'S PLAN OF OPERATION                                                                                    | 
|ITEM 3.  CONTROLS AND PROCEDURES                                                                                           | 
|PART II                                                                                                                    | 
|ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                                                                                  | 
|SIGNATURES                                                                                                                 | 
|INDEX TO EXHIBITS                                                                                                          | 

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# PART I

# ITEM 1. FINANCIAL
STATEMENTS

As used herein, the term
Company refers to Montana Mining Corp., a Nevada corporation, unless otherwise
indicated. In the opinion of management, the accompanying unaudited financial statements
included in this Form 10-QSB reflect all adjustments (consisting only of normal recurring
accruals) necessary for a fair presentation of the results of operations for the periods
presented. The results of operations for the periods presented are not necessarily
indicative of the results to be expected for the full year.

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`ASSETS

Current assets - cash                                                                             $              62,453
                                                                                                     ---------------------

     Total current assets                                                                         $              62,453
                                                                                                     =====================


                            LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Accounts payable                                                                               $               5,943
   Related party payable                                                                                          2,500
                                                                                                     ---------------------

     Total current liabilities                                                                                    8,443
                                                                                                     ---------------------


Commitments                                                                                          -

Stockholders' equity:
   Preferred stock, $.001 par value, 5,000,000 shares

     authorized, no shares issued and outstanding                                                    -
   Common stock, $.001 par value, 45,000,000 shares
     authorized, 6,312,900 shares issued and outstanding                                                          6,313
   Additional paid-in capital                                                                                   103,069
   Deficit accumulated during the exploration stage                                                            (55,372)
                                                                                                     ---------------------

     Total stockholders' equity                                                                                  54,010
                                                                                                     ---------------------

     Total liabilities and stockholders' equity                                                   $              62,453
                                                                                                     =====================


                     The accompanying notes are an integral part of these financial statements`

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`Three Months Ended                     Nine Months Ended
                                                                               September 30,                         September 30,                 Cumulative
                                                                     ----------------------------------    ----------------------------------
                                                                          2003               2002               2003               2002              Amounts
                                                                     ---------------    ---------------    ---------------    ---------------    ----------------


Revenue                                                          $                -                  -                  -                  -                   -

General and administrative costs                                             13,823             17,008             18,555             20,026              55,372
                                                                     ---------------    ---------------    ---------------    ---------------    ----------------

     Loss before income taxes                                              (13,823)           (17,008)           (18,555)           (20,026)            (55,372)



Provision for income taxes                                                        -                  -                  -                  -                   -
                                                                     ---------------    ---------------    ---------------    ---------------    ----------------

     Net Loss                                                    $         (13,823)           (17,008)           (18,555)           (20,026)            (55,372)
                                                                     ===============    ===============    ===============    ===============    ================



Loss per common share - basic and diluted                        $                -              (.01)                  -              (.01)
                                                                     ===============    ===============    ===============    ===============

Weighted average common shares -
   basic and diluted                                                      6,313,000          3,215,000          6,313,000          1,954,000
                                                                     ===============    ===============    ===============    ===============



                     The accompanying notes are an integral part of these financial statements`

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MONTANA MINING CORP.

(A Development Stage
Company)

UNAUDITED STATEMENTS
OF CASH FLOWS

`Nine Months Ended
                                                                            September 30,               Cumulative
                                                                    -------------------------------
                                                                        2003             2002             Amounts
                                                                    -------------    --------------    --------------
Cash flows from operating activities:

Net loss                                                        $       (18,555)          (20,026)          (55,372)
   Adjustments to reconcile net loss to net cash
     used in operating activities:

       Stock compensation expense                                              -                 -             5,007

       Increase (decrease) in accounts payable                             1,774             3,663             5,943
                                                                    -------------    --------------    --------------


         Net cash used in operating activities                          (16,781)          (16,363)          (44,422)
                                                                    -------------    --------------    --------------



Cash flows from investing activities:                               -                            -                 -
                                                                    -------------    --------------    --------------


Cash flows from financing activities:

   Increase in related party payable                                           -                 -             2,500

   Decrease in stock subscription receivable                                   -                 -               465

   Increase in common stock                                                    -           100,000           103,910
                                                                    -------------    --------------    --------------


         Net cash provided by financing activities                             -           100,000           106,875
                                                                    -------------    --------------    --------------



           Net increase (decrease) in cash                              (16,781)            83,637            62,453


Cash, beginning of period                                                 79,234                65                 -
                                                                    -------------    --------------    --------------


Cash, end of period                                             $         62,453            83,702            62,453
                                                                    =============    ==============    ==============

                     The accompanying notes are an integral part of these financial statements`

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Note 1  Basis of
Presentation

The accompanying unaudited condensed
financial statements have been prepared by management in accordance with the instructions
in Form 10-QSB and, therefore, do not include all information and footnotes required by
generally accepted accounting principles and should, therefore, be read in conjunction
with the Companys Form 10-KSB for the year ended December 31, 2002, filed with the
Securities and Exchange Commission. These statements do include all normal recurring
adjustments which the Company believes necessary for a fair presentation of the
statements. The interim operations are not necessarily indicative of the results to be
expected for the full year ended December 31, 2003.

Note 2  Additional
Footnotes Included By Reference

Except as indicated in Notes above,
there have been no other material changes in the information disclosed in the notes to the
financial statements included in the Companys Form 10-KSB for the year ended
December 31, 2002, filed with the Securities and Exchange Commission. Therefore, those
footnotes are included herein by reference.

Note 3  Going
Concern

At September 30, 2003 the Company has
an accumulated deficit, has incurred losses since inception as well as negative cash flow
from operations. These conditions raise substantial doubt about he ability of the Company
to continue as a going concern. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

The Companys ability to
continue as a going concern is subject to obtaining necessary funding from outside
sources. The Company has acquired an interest in the Dobler Mine and is in the process of
exploring for the production of precious metals. There can be no assurance that the
Company will be successful in these efforts.

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# ITEM 2.

# MANAGEMENTS PLAN
OF OPERATION

When used in this discussion, the
words believes, anticipates, expects, and similar
expressions are intended to identify forward-looking statements. Such statements are
subject to certain risks and uncertainties, which could cause actual results to differ
materially from those projected. Readers are cautioned not to place undue reliance on
these forward-looking statements, that speak only as of the date hereof. The Company
undertakes no obligation to republish revised forward-looking statements to reflect events
or circumstances after the date hereof or to reflect the occurrence of unanticipated
events. Readers are also urged to carefully review and consider the various disclosures
made by the Company that attempt to advise interested parties of the factors which affect
the Companys business, in this report, as well as the Companys periodic
reports on Forms 10-KSB, 10-QSB and 8-K filed with the Securities and Exchange Commission.

# General

The Company holds an option to
explore, identify and develop a gold, silver and other precious metals property located in
the vicinity of the city of Helena, Montana, known as the Dobler Mine property. The Dobler
Mine property has a history of bulk tonnage sampling of precious metals. Based upon the
information available from prior exploration of the area, we believe the possibility of
exploring and identifying mineralization on the Dobler Mine property exists.

On July 19, 2002, the Company entered
into an option purchase agreement with Monument Resources, Inc. The option purchase
agreement grants to the Company the exclusive right to acquire a 100% fee simple interest
in Dobler Mine property and mineral rights on surrounding property subject to a net
smelter royalty of 3% in consideration of certain option payments, exploration
expenditures and a purchase payment to be satisfied over the next two years. The Company
has satisfied both the first and second option payments, in addition to funding the
initial exploration expenditures. The option payments, the determined amount of
exploration expenses with the respective performance dates and the purchase payment are as
follows:

|                         |  |           
|------------------------ |  | ----------
|Option Payments          |  | Amount    
|First Option             |  | $  15,000 
|Second Option            |  | $    5,000
|Exploration Expenditures |  | Amount    
|Initial Exploration      |  | $  30,000 
|Secondary Exploration    |  | $  30,000 
|Purchase Payment         |  | Amount    
|Purchase Payment         |  | $200,000  

Should the Companys exploration
expenditures in any given period exceed that minimum amount required by the option
purchase agreement, then that amount in excess is to be credited to the following period.
The Company is to manage all exploration work to be carried out on the Dobler Mine
property.

---

# Operational Milestones

The Company has embarked on the first
phase of its exploration program to determine the economic feasibility of developing the
Dobler Mine property for the extraction of precious metals. The Company has now conducted
field work on the property. The field work has included physically surveying the Dobler
Mine property for prospective areas of mineralization through examination of areas where
work had been done on the property and identified rock outcrops that are scattered
throughout the property. The Company has collected rock and chip samples from such areas
of interest. Samples have submitted for assay analysis. Assay results have indicated some
areas of interest. The Company is now in the process of evaluating the assay results in
order to better formulate the second phase of the Dobler Mine exploration program. Should
the Companys exploration efforts determine significant mineralization, it must then
determine whether these metals exist in sufficient quantity to economically justify future
extraction and processing.

The Company makes no claim at this
time that any precious metals exist on the Dobler Mine property.

The Company does not expect to
receive revenues within its first 12 months of operation or ever, should exploration
efforts fail to identify precious metals in an amount economically favorable to extract.
Further, even if the Company discovers precious metals on the Dobler Mine property that
could be favorably extracted under economically attractive terms, the Company would still
not expect any significant revenues until after the completion of its three phase
exploration program.

# Losses

For the three month period from July
1, 2003 to September 30, 2003, the Company recorded an operating loss of $13,823. For the
nine months ended September 30, 2003, the Company recorded an operating loss of $18,555.
This lack of profitability is attributable to expenses associated with accounting,
administration and exploration expenses associated with the Dobler Mine property. The
Company did not generate any revenues during this period.

The Company expects to continue to
operate at a loss through fiscal 2003 and due to the nature of the Companys
business, cannot determine whether it will ever generate revenues from operations.

# Capital Expenditures

The Company expended no funds on
capital expenditures during the nine month period ending September 30, 2003.

# Capital Resources and
Liquidity

The Company had current assets of
$62,453 and total assets of $62,453 as of the quarter ended September 30, 2003. These
assets consist of cash on hand of $62,453. Net stockholders equity in the Company
was $54,010 at September 30, 2003.

Cash flow used in operating
activities was $16,781 for the nine months ending September 30, 2003. Cash was used during
the first nine months on accounting, administration and exploration expenses.

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The Company has no current
commitments or arrangements with respect to, or immediate sources of, additional financing
and it is not anticipated that any existing stockholders will provide any portion of any
future financing. Further, no assurances can be given that any additional financing, when
needed, will be available or available on acceptable terms. The inability to obtain
additional financing when required would have a material adverse effect on the
Companys operations, including requiring it to curtail its plans to explore the
Dobler Mine property.

# ITEM 3. CONTROLS AND
PROCEDURES

The Companys president acts
both as the Companys chief executive officer and chief financial officer and is
responsible for establishing and maintaining disclosure controls and procedures for the
Company.

(a) Evaluation of
Disclosure Controls and Procedures

Based on his evaluation as of
September 30, 2003, the chief executive officer and chief financial officer has concluded
that the Companys disclosure controls and procedures (as defined in Rule 13a-14(c)
and 15d-15(e) of the Securities Exchange Act of 1934, as amended) are effective to ensure
that information required to be disclosed by the Company in reports that the Company files
or submits under the Securities Exchange Act, as amended is recorded, processed,
summarized and reported within the time periods specified in the rules and forms of the
Securities and Exchange Commission.

(b) Changes in Internal
Controls

Based on his evaluation as of
September 30, 2003, the chief executive officer and chief financial officer has concluded
that there were no significant changes in the Companys internal controls over
financial reporting or in any other areas that could significantly affect the
Companys internal controls subsequent to the date of his most recent evaluation,
including any corrective actions with regard to significant deficiencies and material
weaknesses.

# PART II

(a)      Exhibits  Exhibits  required  to be  attached  by Item 601 of  Regulation  S-B are  listed in the Index to
         Exhibits on page 12 of this Form 10-QSB, and are incorporated herein by this reference.

(b)      Reports on Form 8-K.  No reports on Form 8-K were filed during the period covered by this Form 10-QSB.

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In accordance with the  requirements of the Securities  Exchange Act of 1934, the registrant  caused this report to
be signed on its behalf by the undersigned, hereunto duly authorized, this 30th day of October, 2003.

MONTANA MINING CORP.

Ruairidh Campbell

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INDEX TO EXHIBITS

|        |  |         
|------- |  | --------
|Exhibit |  | Page    
|No      |  | No.     
|3(i)(a) |  | *       
|3(i)(b) |  | *       
|3(ii)   |  | *       
|10(i)   |  | *       
|31      |  | Attached
|32      |  | Attached

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