U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                  For the quarterly period ended MARCH 31, 2005


[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934


                         Commission file number 0-12809

                          GOLDEN CHIEF RESOURCES, INC.
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

        State of Kansas                                        48-0846635
        ---------------                                        ----------
(State or other jurisdiction of                              (IRS Employer
 incorporation or organization)                               I. D. Number)

             896 N. Mill Street, Suite 203, Lewisville, Texas 75057
             ------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

         Issuer's telephone number, including area code: (972) 219-8585

Check whether the issuer (1) filed all reports required to be filed by Sections
13 or 15(d) of the Securities 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.
Yes [X]  No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

          There were 241,578,710 shares of common stock, No Par Value,
                        outstanding as of March 31, 2005.

Transitional Small Business Disclosure Format (check one);  Yes [ ]  No [X]

<PAGE>


PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements


<TABLE>
<CAPTION>

                                             Golden Chief Resources Inc.
                                                    Balance Sheets
                                                     (Unaudited)
                                                                        March 31,            September 30,
                                                                          2005                   2004
                                                                       -----------            -----------
ASSETS
------

<S>                                                                    <C>                     <C>
Current assets:
---------------
             Cash                                                      $     6,745            $       225
                                                                       -----------            -----------
             Total current assets                                            6,745                    225

Fixed assets:
-------------
             Montgomery County pipeline                                     34,789                   --
             Oil & gas properties, non-producing
               Ownbey & Troyer leases                                       95,000                   --
                                                                       -----------            -----------

             Total Assets                                              $   136,534            $       225
                                                                       ===========            ===========


LIABILITIES and STOCKHOLDERS' EQUITY (DEFICIT)
---------------------------------------------

Current liabilities
-------------------
             Accounts payable                                                8,061                 22,881
             Accrued expenses - related party                               10,170                 10,170
             Accrued expenses                                                1,000                  6,000
             Stock payable                                                  90,000                   --
                                                                       -----------            -----------

             Total current liabilities                                     109,231                 39,051
                                                                       -----------            -----------

Stockholders' equity (deficit)
------------------------------
                                                                                              -----------
             Common stock, no par value
             authorized 500,000,000 shares;
              241,578,710 and 132,578,710
             issued and outstanding                                      4,683,732              3,658,732

             Accumulated deficit                                        (4,656,429)            (3,697,558)
                                                                       -----------            -----------

             Total stockholders' equity (deficit)                           27,303                (38,826)
                                                                       -----------            -----------

             Total liabilities and stockholders' equity (deficit)      $   136,534            $       225
                                                                       ===========            ===========

                                                         2
<PAGE>


                                                Golden Chief Resources, Inc.
                                                  Statements of Expenses
                                Three and Six Months Ended March 31, 2005 and 2004
                                                       (Unaudited)


                                                     Three Months                               Six Months
                                                 2005              2004                 2005                2004
                                            -------------------------------        ----------------------------------

Operating Expenses                          $    23,147       $         794        $     958,871        $         794
                                            -----------       -------------        -------------        -------------

Net Loss                                    $   (23,147)      $        (794)       $    (958,871)       $        (794)
                                            ===========       =============        =============        =============

Basic and Diluted Loss per Shar             e$ (0.00)         $       (0.00)       $       (0.00)       $       (0.00)
                                            ===========       =============        =============        =============

Weighted Average Shares Outstanding         241,488,822         117,412,043          199,335,616           96,412,043
                                            ===========       =============        =============        =============

                                                             3
<PAGE>


                                                   Golden Chief Resources, Inc.
                                                    Statements of Cash Flows
                                                             (Unaudited)

                                                                                         Six Months Ended
                                                                                             March 31,
                                                                                     2005                2004
                                                                                   ---------          ----------

Cash Flows from Operating Activities:
Net Loss                                                                           $(958,871)         $    (794)

Adjustments to reconcile net loss to net cash used in operating activities:
  Stock Issued for Services                                                          886,211               --
Stock Payable for Services                                                            50,000               --
Changes in assets and liabilities:
    Accounts Payable                                                                 (14,820)           (16,395)
    Accrued Expenses                                                                  (5,000)              --
                                                                                   ---------          ---------

Net Cash Used in  Operating Activities                                               (42,480)           (17,189)
                                                                                   ---------          ---------

Cash Flows from Financing Activities:

Proceeds from stock sales                                                             49,000             25,000
                                                                                   ---------          ---------

Net Increase (Decrease) in Cash                                                        6,520              7,811

Cash - Beginning of period                                                               225               --
                                                                                   ---------          ---------

Cash - End of period                                                               $   6,745          $   7,811
                                                                                   =========          =========


Supplementary Disclosure:
Cash Paid for Interest                                                             $    --            $    --
Cash Paid for Taxes

Non-cash transactions:
Shares Issued:
  for oil and gas properties                                                         129,789               --
  to reduce payables                                                                    --               46,440


                                                                  4
</TABLE>




<PAGE>


                          Golden Chief Resources, Inc.
                          Notes to Financial Statements

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited financial statements of Golden Chief Resources, Inc.
("Golden Chief") have been prepared in accordance with accounting principles
generally accepted in the United States of America for interim financial
statements and with the instructions to Form 10-QSB and Regulation S-B for the
three and six month periods ended March 31, 2005 and 2004 and reflect, in the
opinion of management, all adjustments, which are of a normal and recurring
nature, necessary for a fair presentation of the results for such periods. The
foregoing financial statements do not include all information and footnotes
required by accounting principles generally accepted in the United States of
America for complete financial statements. However, except as disclosed herein,
there has been no material change in the information disclosed in the notes to
consolidated financial statements for the year ended September 30, 2004 included
in the Company's Annual Report on Form 10-KSB filed with the Securities and
Exchange Commission. The interim unaudited financial statements should be read
in conjunction with the annual financial statements and accompanying notes.
Operating results for the three and six months ended March 31, 2005 are not
necessarily indicative of the results that may be expected for the year ending
September 30, 2005.

NOTE 2 - OIL AND GAS PROPERTIES PURCHASED FROM A RELATED PARTY

Golden Chief issued 96,000,000 shares of common stock to a company controlled by
two directors of Golden Chief for the purchase of two oil and gas leases. The
properties were recorded at the carry-over basis of the former owner totaling
$95,000. The shares were valued at $960,000 resulting in an asset of $95,000 and
compensation of $865,000. See footnote 4.

In January 2005, Golden Chief issued 2,000,000 shares of common stock to a
company controlled by two directors of Golden Chief for the purchase of a gas
gathering system. The system was recorded at the carry-over basis of the former
owner totaling $34,789. The shares were valued at $36,000 resulting in an asset
of $34,789 and compensation of $1,211.

NOTE 3 - STOCK PAYABLE

During the three months ending December 31, 2004, Golden Chief agreed to issue
5,000,000 shares of common stock to a financial advisor for his services in
helping raise capital for Golden Chief. The shares were valued at $50,000. The
shares were not issued as of December 31, 2004 and are reflected as a stock
payable.

During the three months ended March 31, 2005, Golden Chief agreed to issue
1,800,000 shares of common stock for $40,000. The $40,000 was received, but the
shares have not been issued resulting in a stock payable.

NOTE 4 - COMMON STOCK

During the six months ending March 31, 2005, Golden Chief issued:

     o    96,000,000 shares of common stock valued at $960,000 to a related
          party for the purchase of two oil and gas leases.
     o    2,000,000 shares valued at $20,000 to a brokerage firm for their
          services.
     o    9,000,000 shares of common stock for cash of $9,000.


                                       5
<PAGE>



NOTE 5 - SUBSEQUENT EVENT

During the three months ended June 30, 2005, Golden Chief agreed to issue
2,424,400 shares of common stock for $60,610. The $60,610 was received, but the
shares have not been issued resulting in a stock payable.



Item 2:  Management's Discussion and Analysis of Financial Condition and
         Results of Operations.

General:

During the quarter ending March 31, 2005, Golden Chief raised $40,000 from
existing shareholders who purchased 1,800,000 shares of our common stock for
approximately $0.025 per share. The proceeds were used to satisfy certain
obligations and begin the audit for the year ending September 30, 2004. The
1,800,000 shares have not been issued as of March 31, 2005 and are shown as a
stock payable. We also acquired a small natural gas pipeline located in
Montgomery County, Kansas from a related party for the issuance of 2,000,000
shares of common stock valued at $36,000.

During the quarter ending December 31, 2004, we entered into a transaction with
International Royalty and Oil Co. (IROC) of Dallas, Texas, a company controlled
by two of Golden Chief's directors, to acquire certain non-producing oil and gas
properties located in southeastern Kansas in exchange for the issuance of
96,000, 000 shares of our common stock to the shareholders of International
Royalty and Oil Co. The properties need a certain amount of remedial work in
order to return to production and we estimate the need for up to $500,000 to
achieve full production and resume a gas injection project on one of the leases.
IROC was endeavoring to provide a further lease as of September 1, 2005, but
until they can resolve certain problems pertaining to their title to the
property they will be unable to deliver the lease to us. We also agreed to hire
a financial advisor and a brokerage firm to provide assistance in seeking
additional capital and aid in the establishment of an orderly market for our
shares. We agreed to issue 5,000,000 shares to the financial advisor valued at
$50,000 and 2,000,000 shares to the brokerage firm for these services valued at
$20,000.

Pursuant to the transaction with International Royalty and Oil Co. two new
directors were added,: J. Fred Oden and Hugh Fowler. Mr. Hewitt and Mr. Landrum
resigned from the board at that meeting, and Mr. McIlvain was then elected our
president with Mr. Oden elected vice president and Mr. Fowler elected secretary.
This action was effective on December 16, 2004.

Liquidity and Capital Resources:

During the current quarter, our capital resources were extremely limited. Our
prospects will depend entirely on its ability to secure future financing and
find a suitable line of business.

The assets as of March 31, 2005 totaled $136,534, consisting primarily of the
non-producing leases acquired in the transaction with International Royalty and
Oil Co and the Montgomery County gas pipeline acquired in the current quarter.
The properties were valued at the predecessor's cost basis.

Revenues and Expenses:

During the six months, we incurred significant operating expenses. We incurred
$958,871, mostly due to compensation expense regarding evaluation and planning
for the non-producing oil and gas properties in south east Kansas. We had no
revenues for the quarter.

During the quarter a year ago, we reported no revenues, and had no expenses.

                                       6

<PAGE>


Subsequent Events:

During the quarter ending June 30, 2005, we secured $60,610 in capital from
existing shareholders who purchased 2,424,400 shares of common stock at $0.025
per share. During this quarter, we engaged Bateman & Co. as independent auditors
for the year ending September 30, 2004.

On August 15, 2005, we dismissed Bateman & Co. as independent auditors and
appointed Malone & Bailey, PC as independent auditors.

Disclosure Regarding Forward-Looking Statements:

Where this Form 10-QSB includes "forward-looking" statements within the meaning
of Section 27A of the Securities Act, we desire to take advantage of the "safe
harbor" provisions thereof. Therefore, we are including this statement for the
express purpose of availing ourselves of the protections of such safe harbor
provisions with respect to all of such forward-looking statements. The
forward-looking statements in this Form 10-QSB reflect our current views with
respect to future events and financial performance. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ from those anticipated. In this Form 10-QSB, the words
"anticipates," "believes, "expects," "intends," "future" and similar expressions
identify forward-looking statements. We undertake no obligation to publicly
revise these forward-looking statements to reflect events or circumstances that
may arise after the date hereof. All subsequent written and oral forward-looking
statements attributable to us or persons acting on our behalf are expressly
qualified in their entirety by this section.

PART II.  OTHER INFORMATION

Item 2.  Changes in Securities

There were no changes in securities during the current quarter.

Item 4.  Submission of Matters to a Vote of Securities Holders

No matters have been submitted to a vote of the securities holders during the
current quarter.

Item 6.  Exhibits and Reports on Form 8-K

There were no Exhibits or Reports on Form 8-K filed during the current quarter.


Exhibits



                                                          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.

                                                GOLDEN CHIEF RESOURCES, INC.


Date:  September 21, 2005                       /s  /M. H. MCILVAIN
                                                --------------------------------
                                                By:  M. H. McIlvain, President &
                                                     Chief Financial Officer

                                       7