DOWNLOAD FORMATTING INSTRUCTIONS FOR CORRECT PAGINATION:
     PAGE SETUP: .5"TOP, .5"BOTTOM, .5"LEFT, .5"RIGHT
     TYPE: COURIER NEW, 10pt





(THIS SPACE LEFT BLANK INTENTIONALLY)



































<PAGE>
******************************************************************************

                        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 September 30, 1999

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: 0-29786

                           MINES  MANAGEMENT,  INC.
               ------------------------------------------------

     Idaho                                                  91-0538859
----------------------------                                 -------------------
(State or other jurisdiction                            (I.R.S. Employer
of incorporation or organization)                       Identification No.)


905  West  Riverside  Avenue,  Suite  311
        Spokane, Washington                                       99201
(Address of principal executive offices)                       (Zip Code)

(Registrant's telephone number, including area code) (509)  838-6050


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. 4,921,956

Transitional Small Business Disclosure Format (check one): Yes  ( )  No  (X)













******************************************************************************

<PAGE>

                             MINES  MANAGEMENT,  INC.
                                   FORM  10-QSB
                FOR  THE  QUARTERLY  PERIOD  ENDED SEPTEMBER 30,  1999


PART  I.  -  FINANCIAL  INFORMATION

The  Registrant  falls  within  the  provisions  of  Rule  13a-13(c)(2)  of  the
Securities  Exchange  Act  of  1934, as amended, and claims exemption thereunder
from  the  requirement  to  file  Part  I.

PART  II.  -  OTHER  INFORMATION

ITEM  5.  OTHER  INFORMATION

Year  2000  Issues

Throughout  the information technology industry, the use of two-digit fields was
common  practice  in  the  design  of  hardware,  systems  software, proprietary
applications  and  system  interfaces.  The  Year  2000 problem is pervasive and
complex.  The  issue  is  whether  computer systems will properly recognize date
sensitive  information  when  the  year  changes  to  2000.  Systems that do not
properly  recognize  such  information  could generate erroneous data or cause a
system  to  fail.

The  Company  recognizes the need to ensure its operations will not be adversely
impacted  by  Year 2000 software failures and has assessed Year 2000 risks. This
assessment includes the identification of necessary changes to computer hardware
and software applications that will attempt to ensure availability and integrity
of  the  Company's  information systems and the reliability of its financial and
operational  systems.

The  Company  has reviewed its financial, information and operational systems in
order  to  identify  those  products, services or systems that are not Year 2000
compliant.  As  a  result  of  this review, the Company has modified or replaced
certain information and operational systems so they will be Year 2000 compliant.
These modifications and replacements are being, and will continue to be, made in
conjunction  with  the  Company's overall systems initiatives. The total cost of
these  Year  2000 compliance activities is not anticipated to be material to the
Company's  financial  position  or  its  results  of  operations.

Based  on  available  information,  the  Company  does  not believe any material
exposure  to  significant  business interruption exists as a result of Year 2000
compliance  issues.  These  costs  and  the timing in which the Company plans to
complete  its  Year 2000 modifications are based on management's best estimates.
However,  there  can  be  no assurance that the Company will timely identify and
remediate  all  significant  Year  2000 problems, that remedial efforts will not
involve  significant  time  and  expense,  or that such problems will not have a
material  adverse  effect  on  the  Company's business, results of operations or
financial  position.

The  Company  also faces risk to the extent that its borrowers, vendors, service
providers  and  others  with  whom the Company transacts business may not comply
with  Year  2000 requirements. The Company has not, to date, made any assessment
of  the  Year  2000  risks  associated  with  these  third party associations to
determine  the  extent to which the Company is vulnerable to these third parties
failure  to  remediate  their  own Year 2000 issues. In the event any such third
parties  are  not Year 2000 compliant, the Company's results of operations could
be  materially  adversely  affected.




                             MINES  MANAGEMENT,  INC.
                                   FORM  10-QSB
                FOR  THE  QUARTERLY  PERIOD  ENDED SEPTEMBER 30,  1999

                                   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.

MINES  MANAGEMENT,  INC.

                                     /s/  William R. Green
                                     ___________________________
Date:  November 12,  1999.             By:  William  R.  Green
                                     President  (Principal  Executive  Officer)

                                     /s/ Roy G. Franklin
                                     ___________________________
Date:  November 12,  1999              By:  Roy  G.  Franklin
                                     Treasurer  (Principal  Financial  Officer)