|OMB APPROVAL                                                                                        
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 10-QSB



[X]

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934    For the quarterly period ended June 30, 2005.



OR



[  ]

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934    From ________________ to ________________





HuntMountain Resources

(Exact name of registrant as specified in its charter)



|Nevada                                         | 001-01428                 | 68-0612191                       
|---------------------------------------------- | ------------------------- | ---------------------------------
|(State or other jurisdiction of incorporation) | (Commission File  Number) | (IRS Employer Identification No.)



|1611 N. Molter Road, Ste. 201 Liberty Lake, Washington |  | 99019     
|------------------------------------------------------ |  | ----------
|(Address of principal executive offices)               |  | (Zip Code)





(509) 892-5287

(Registrant's telephone number, including area code)



Metaline Mining & Leasing Company

(Former name, former address & former fiscal year, if changed since last report)



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 registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days.  Yes X  No_______



State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date  15,000,000



Transitional Small Business Disclosure Format (check one);

Yes _____    No X



SEC 2334 (10-04)

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the  form displays a currently valid OMB control number.



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HUNTMOUNTAIN RESOURCES

FORM 10-QSB

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2005





PART I



Item 1.   Financial Information



|HuntMountain Resources                                                 |                                                            
|---------------------------------------------------------------------- | -----------------------------------------------------------
|(Formerly Metaline Mining & Leasing Company)
Balance Sheet (Unaudited) | June 30, 2005                                              
|                                                                       |                                                            
|Assets                                                                 |                                                            
|                                                                       |                                                            
|CURRENT ASSETS:                                                        |                                                            
|                                                                       | Cash and cash equivalents:                                 
|                                                                       |                                                            
|                                                                       |                                                            
|                                                                       |                                                            
|                                                                       |                                                            
|                                                                       |                                                            
|INVESTMENTS                                                            | 20,552                                                     
|                                                                       |                                                            
|MINING PROPERTIES                                                      | 7,331                                                      
|                                                                       |                                                            
|                                                                       |                                                            
|Liabilities and Stockholders Equity                                   |                                                            
|                                                                       |                                                            
|CURRENT LIABILITIES:                                                   |                                                            
|                                                                       | Accounts payable                                           
|                                                                       |                                                            
|STOCKHOLDERS EQUITY:                                                  |                                                            
|                                                                       | Common stock  15,000,000 shares, no par value, authorized;
|                                                                       |                                                            
|                                                                       | Pending Stock Issuance (1,500,000 shares)                  
|                                                                       | Accumulated other comprehensive income:                    
|                                                                       |                                                            
|                                                                       | Retained earnings                                          
|                                                                       |                                                            
|                                                                       |                                                            
|                                                                       |                                                            
|See accompanying note to financial statements.                         |                                                            



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|HuntMountain Resources                         |                                   |         |          |                |           |                |          
|---------------------------------------------- | --------------------------------- | ------- | -------- | -------------- | --------- | -------------- | ---------
|(Formerly Metaline Mining & Leasing Company)   |                                   |         |          |                |           |               
|Statements of Income (Unaudited)               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          | Three Months   |           | Six Months    
|                                               |                                   |         |          | Ended June 30, |           | Ended June 30,
|                                               |                                   |         |          | 2005           |           | 2004           |          
|                                               |                                   |         |          |                |           |                |          
|INCOME:                                        |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               | Dividend and interest income      | $ 4,522 |          | $    680       |           | $ 6,371        |          
|                                               |                                   |         |          |                |           |                |          
|EXPENSES:                                      |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               | Professional fees                 | 38,577  |          | 8,806          |           | 41,683         |          
|                                               | Advertising                       | -       |          | -              |           | -              |          
|                                               | Directors fees                   | -       |          | 750            |           | -              |          
|                                               | Office expense                    | 19,492  |          | 615            |           | 19,529         |          
|                                               |                                   |         |          | 58,069         |           | 10,171         |          
|                                               |                                   |         |          |                |           |                |          
|LOSS BEFORE OTHER INCOME                       | (53,547)                          |         | (9,491)  |                | (54,841)  |                | (13,780) 
|                                               |                                   |         |          |                |           |                |          
|OTHER INCOME:                                  |                                   |         |          |                |           |                |          
|                                               | Income from partnership interests | 400     |          | -              |           | 400            |          
|                                               |                                   |         |          |                |           |                |          
|NET LOSS                                       | $(53,147)                         |         | $(9,491) |                | $(54,441) |                | $(13,380)
|                                               |                                   |         |          |                |           |                |          
|BASIC LOSS PER SHARE, based on weighted-       |                                   |         |          |                |           |                |          
|                                               | average shares outstanding        | NIL     |          | NIL            |           | NIL            |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|                                               |                                   |         |          |                |           |                |          
|See accompanying note to financial statements. |                                   |         |          |                |           |                |          







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|HuntMountain Resources                               |                                              |                               |                             
|---------------------------------------------------- | -------------------------------------------- | ----------------------------- | ----------------------------
|(Formerly Metaline Mining & Leasing Company)         |                                              |                               |                             
|Statements of Cash Flows (Unaudited)                 |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|Increase (Decrease) in Cash and Cash Equivalents     |                                              |                               |                             
|                                                     |                                              |                               |                             
|CASH FLOWS FROM OPERATING ACTIVITIES:                |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     | Net loss                                     |                               |                             
|                                                     | Adjustment to reconcile net loss to net cash |                               |                             
|                                                     |                                              | used in operating activities: |                             
|                                                     |                                              |                               | Increase in accounts payable
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|CASH FLOWS FROM FINANCING ACTIVITIES:                |                                              |                               |                             
|                                                     | Sale of common stock                         | 501,934                       |                             
|                                                     | Pending sale of common stock                 | 150,000                       |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 610,493                                      |                               | (13,380)                    
|                                                     |                                              |                               |                             
|CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD       | 497,428                                      |                               | 512,840                     
|                                                     |                                              |                               |                             
|CASH AND CASH EQUIVALENTS, END OF PERIOD             | $ 1,107,921                                  |                               | $   499,460                 
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|                                                     |                                              |                               |                             
|See accompanying note to financial statements.       |                                              |                               |                             





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HuntMountain Resources

(Formerly Metaline Mining & Leasing Company)



_________________________________________________________________________

Note to Financial Statements







BASIS OF PRESENTATION:





The unaudited financial statements have been prepared by HuntMountain Resources (the Company), pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC).  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such SEC rules and regulations. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Companys Annual Report on Form 10-KSB for the year ended December 31, 2004, which was filed April 18, 2005. In the opinion of management of the Company, the foregoing statements contain all adjustments necessary to present fairly the financial position of the Company as of June 30, 2005, and its results of operations for the three month and six month periods ended June 30, 2005 and 2004, and its cash flows for the six-month periods ended June 30, 2005 and 2004. The interim results reflected in the foregoing financial statements are not considered indicative of the results expected for the full fiscal year.



Pending Stock Issuance:

On March 28, 2005, the Company completed a private placement of 1,500,000 special warrants at a price of $0.10 per special warrant. Each special warrant shall automatically be converted into one share of the Companys common stock upon the increase of the Companys capitalization sufficient to permit the conversion of the warrants.  In the event that the special warrants have not been converted on or before July 30, 2005, the warrant holders may, but are not required to, rescind their purchase without penalty to the Company.  The Company received gross proceeds of $150,000 from the offering.











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Item 2. Managements Discussion and Analysis or Plan of Operation



Plan of Operation



The Company intends to engage in the exploration, development, and if warranted, the mining of properties containing silver, gold, and associated based metals and other opportunities within the mineral industry throughout North and South America. At this time the Company does not have an interest in any properties on which it intends to conduct mineral exploration.  The Company has engaged the services of consultants to assist in the identification of mineral properties for possible acquisition.



We currently have two full-time employees. We anticipate utilizing the services of consultants to accomplish our plan of operation in the near term.  We currently have sufficient resources to meet our financial obligations for the next twelve months.



Item 3. Controls and Procedures



Within the 90 days prior to the date of this report, the company carried out an evaluation, under the supervision and with the participation of the companys management, including the companys principal executive officer and principal financial officer, of the effectiveness of the design and operation of the companys disclosure controls and procedures pursuant to Exchange Act Rule 13a-14.  Based upon that evaluation, the principal executive officer and principal financial officer concluded that the companys disclosure controls and procedures are effective in timely alerting them to material information relating to the company required to be included in the companys periodic SEC filings.



PART II OTHER INFORMATION



Items deleted are not applicable.



Item 4. Submission of matters to a vote of Security Holders



This information is incorporated by reference to our Current Report of Form 8K filed on August 5, 2005.



Item 5. Other Information



A press release dated August 19, 2005 announcing that the Companys Common Stock has been assigned the new symbol HNTM for trading on the OTC Bulletin Board of the NASDAQ Stock Market and that the company has lunched its updated website, www.HuntMountain.com is attached as Exhibit 99.1.  HuntMountain shares began trading under the new symbol effective Friday, August 19th, 2005.



Item 6.  Exhibits



31.1--Certification required by Rule 13a-14(a) or Rule 15d-14(a). Tim Hunt

31.2--Certification required by Rule 13a-14(a) or Rule 15d-14(a). Randal Hardy

32.1--Certification required by Rule 13a-14(a) or Rule 15d-14(b) and section 906 of the Sarbanes-Oxley Act of 2002,  18 U.S.C. Section 1350, Tim Hunt

32.2--Certification required by Rule 13a-14(a) or Rule 15d-14(b) and section 906 of the Sarbanes-Oxley Act of 2002,  18 U.S.C. Section 1350, Randal Hardy

99   --News release



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SIGNATURES



In accordance with Section 13 or 15(d) of  the Exchange Act the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.







HUNTMOUNTAIN RESOURCES



/s/ Tim Hunt



BY:

DATE:  August 19, 2005

TIM HUNT, PRESIDENT



/s/ Randal Hardy

BY:

DATE: August 19, 2005

RANDAL HARDY, CHIEF FINANCIAL OFFICER







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