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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549
                              _____________________


                                  FORM 10KSB/A
                                  Amendment #1


                     Under Section 12(b) or Section 12(g) of
                       The Securities Exchange Act of 1934
                  For the fiscal year ended September 30, 2001

                              TREND MINING COMPANY
                 (Name of Small Business Issuer in its Charter)

                 Delaware                                  81-0304651
     (State or Other Jurisdiction of                   (I.R.S.  Employer
      Incorporation or Organization)                  Identification  No.)


                     401 Front Avenue, Suite 1, Second Floor
                           Coeur d'Alene, Idaho  83814
                     (Address of principal executive office)

                   Issuer's telephone number:  (208) 664-8095


           Securities to be registered under Section 12(b) of the Act:

                                      None
                                (Title of Class)

           Securities to be registered under Section 12(g) of the Act:

                                      None
                                (Title of Class)

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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  [   ]

The number of shares outstanding at September 30, 2001: 18,755,970 shares


<PAGE>
PART  I

                        ITEM 1.  DESCRIPTION OF BUSINESS

     Trend  Mining  Company,  incorporated  in Montana in 1968, has been engaged
since  1998  in  the  acquisition  and  exploration  of  platinum  group  metals
properties,  primarily  in  the  United  States.  From  1968  through  1984, our
activities  consisted  primarily  of  acquiring,  exploring and leasing to third
parties  properties  with silver potential.  From 1984 to late 1996, our company
was  dormant.  We are an exploration stage company, and our activities have been
limited to exploring and acquiring rights to explore properties which we believe
are  prospective  for  platinum  group metals.  We have identified and commenced
prospecting  efforts  in several areas in favorable geologic terrain in Wyoming,
Montana,  Nevada,  Oregon, California and Saskatchewan, Canada.  There can be no
assurance  that  any of our properties contain a commercially viable ore body or
reserves.  None of our properties are in production, and consequently we have no
operating  income  or  cash  flow.

     In  connection  with our reincorporation in Delaware we amended our charter
to  increase  the number of authorized shares of common stock from 30,000,000 to
100,000,000  shares, to authorize the issuance of 20,000,000 shares of preferred
stock  by  action of the Board of Directors without stockholder approval, and to
eliminate  cumulative  voting  for  directors.

     As  used  in  this  registration  statement,  "Trend Mining," "Trend," "our
company," "we" and "our" refer to Trend Mining Company.  Prior to February 1999,
our  corporate  name  was  Silver  Trend  Mining  Company.

     Six  metals  comprise  the  platinum  group  metals:  platinum,  palladium,
rhodium, iridium, ruthenium and osmium.  Platinum group metals are rare precious
metals  with  unique  physical  properties  that  are used in diverse industrial
applications  and  in the jewelry industry.  The largest and fastest growing use
for  platinum  group  metals is in the automotive industry for the production of
catalysts  that  reduce  automobile  emissions.  Palladium  is  also used in the
production of electronic components for personal computers, cellular telephones,
facsimile  machines  and  other  devices,  as  well  as  dental applications and
jewelry.  Platinum's  largest  use is for jewelry.  Industrial uses for platinum
include  the  production  of  data  storage  disks,  glass, paints, nitric acid,
anti-cancer  drugs,  fiber  optic  cables, fertilizers, unleaded and high-octane
gasolines  and  fuel  cells.


<PAGE>
                             EXPLORATION PROPERTIES

     We  currently  own  or  have  optioned  13  platinum  group  metals mineral
exploration  properties.  These  properties  are tabulated and further described
below.  See  "Property  Location  Maps"  for  maps  showing the location of each
property.
<TABLE>
<CAPTION>

PROPERTY                  LOCATION        ACRES           DESCRIPTION
------------------  --------------------  ------  ----------------------------
<S>                 <C>                   <C>     <C>
Lake Owen           Wyoming               12,020   Layered PGE-Gold Intrusive
------------------  --------------------  ------  ----------------------------
Albany              Wyoming                  120              Marginal Contact
------------------  --------------------  ------  ----------------------------
Spruce Mountain     Wyoming                  840  PGE-Ni-Cu Dike, Hydrothermal
------------------  --------------------  ------  ----------------------------
Centennial West     Wyoming                3,180  PGE-Ni-Cu Dike, Hydrothermal
------------------  --------------------  ------  ----------------------------
Douglas Creek       Wyoming                  680  PGE-Ni-Cu Dike, Hydrothermal
------------------  --------------------  ------  ----------------------------
Keystone            Wyoming                2,420  PGE-Ni-Cu Dike, Hydrothermal
------------------  --------------------  ------  ----------------------------
Stillwater Complex  Montana                1,580         Layered PGE Intrusive
------------------  --------------------  ------  ----------------------------
McCormick Creek     Montana                  720                PGE-Ni-Cu Dike
------------------  --------------------  ------  ----------------------------
Pole Corral         California             1,580       PGE-Cr Alpine Intrusive
------------------  --------------------  ------  ----------------------------
Shamrock            Oregon                   100                PGE-Ni-Cu Dike
------------------  --------------------  ------  ----------------------------
Hardrock Johnson    Nevada                   260                PGE-Ni-Cu Dike
------------------  --------------------  ------  ----------------------------
Willow Springs      Nevada                   620                PGE-Ni-Cu Dike
------------------  --------------------  ------  ----------------------------
Peter Lake          Saskatchewan, Canada  66,770   Layered PGE-Ni-Cu Intrusive
------------------  --------------------  ------  ----------------------------
Total                                     90,890
------------------                        ------
</TABLE>


LAKE  OWEN,  WYOMING

     Location  and  Access.  The  Lake  Owen  platinum  group metals property is
located  in  Albany  County, Wyoming, in the Medicine Bow-Routt National Forest.
The  Lake  Owen property is approximately 40 miles southwest of Laramie, Wyoming
and  can  be  reached  by  paved  highways  and  gravel  roads.

     Land  Status.  In  July 1999, we entered into a three-year option agreement
with  General Minerals Corporation, owner of a block of unpatented mining claims
comprising a portion of the Lake Owen property, that gives us the option to earn
a  100%  interest  in  104 unpatented claims.  General Minerals acquired some of
these  unpatented  mining  claims  from Chevron Minerals in the early 1990s, and
subsequently  located  additional  claims.  Terms  of  that  agreement  (as
subsequently  amended)  include  the  following:

     -    To keep the option in effect, we were required to pay General Minerals
          a  total  of  $40,000 during 1999 and 2000. All of those payments have
          been  made.

     -    To  keep  the  option in effect, we are obligated to incur exploration
          expenditures  of not less than $750,000 by July 27, 2002, with no less
          than  $150,000 in exploration expenditures being completed by July 27,
          2000.  The expenditures required by July 27, 2000 have been completed.

     -    On  the  effective  date of the option agreement, we issued to General
          Minerals  715,996  shares  of  our  common  stock, and in May 2000, we
          issued  an  additional  129,938  shares to General Minerals, giving it
          approximately  25%  of  our  outstanding common stock at that time. We
          have  subsequently  issued  an additional 200,000 shares of our common
          stock  and  warrants  exercisable  until  June  2002  to  purchase  an


<PAGE>
          additional 200,000 shares of common stock to General Minerals pursuant
          to  an  amendment  to  the  option  agreement, and have issued 416,961
          shares  to  General  Minerals upon exercise of their preemptive rights
          under  the  original  option  agreement.  The  shares owned by General
          Minerals  now  represent  approximately  9%  of our outstanding common
          stock.

     -    If  we  exercise  the  option  to acquire a 100% interest in these 104
          unpatented  mining  claims  by completing the exploration expenditures
          described  above,  those  claims  will  be subject to a 4% net profits
          interest with respect to ore mined from the property payable to either
          Chevron  Minerals,  which originally located certain of the claims, or
          to  General  Minerals.

     We  located an additional 497 unpatented mining claims in an agreed area of
interest  near  the  Lake  Owen  property  in  the  first  half of 2000.  We are
obligated  to  pay  to  Chevron  Minerals  or  General Minerals a 4% net profits
interest with respect to these claims and any other claims we acquire in an area
of  interest.

     Exploration  History.  Chevron Minerals initiated geological reconnaissance
exploration  at  Lake  Owen  in  1982,  which included detailed surface geologic
mapping,  geochemical sampling, and geophysical surveys.  Chevron Minerals later
completed  thirteen diamond-drill holes totaling approximately 5,200 feet in the
1980s  and  early  1990s.  Drilling  consisted of relatively shallow angle holes
generally less than 250 feet in vertical depth, and encountered several zones of
encouraging  platinum  group  metal  mineralization.

     Exploration  Plans.  The exploration program for the Lake Owen property has
been  divided  into  three  phases  that  we  currently  plan  to conduct over a
three-year period, which began in March 2000.  In phase one, we plan to focus on
the  evaluation  of existing geologic data generated by Chevron Minerals, and on
geologic  logging and assaying of existing drill core.  Phase two is expected to
involve  continued  field  exploration,  including geologic mapping, geochemical
sampling,  and  geophysical  surveys  to  define drill targets.  We expect phase
three  to  consist  of  a  diamond drilling program intended to better delineate
known  precious  metal  anomalies  and  to  include exploration for new zones of
higher-grade  platinum  group  metals  mineralization.

     Geology  and  Mineralization.  The  Lake  Owen  property  is  a
platinum-gold-palladium  occurrence  hosted  in  an  extensive  layered  igneous
intrusive  complex  with a lateral dimension of approximately four by six miles.
The  complex is about 1.4 billion years old and occurs as a steeply dipping body
of  rock  along  the  margin  of  the  Archean  Wyoming  Province.  The  exposed
stratigraphic  thickness  of  these  rock  units  is  approximately 20,000 feet.

     Four  separate zones of anomalous platinum group metals mineralization have
been  identified  at  Lake  Owen.  The  upper zone has been traced for about six
miles along strike.  The middle zone is about 1,500 feet stratigraphically below
the  upper  zone,  while  the  lower  zone  is situated approximately 5,500 feet
stratigraphically below the upper zone.  Surface geochemical sampling identified
one  additional platinum group metal zone, although the outcrop exposure in this
fourth  zone  is limited and the extent of the anomaly has not yet been defined.

     Drill  intercepts  encountered  to  date  at the Lake Owen property contain
encouraging  mineralization  of  combined  platinum  group metals and gold.  The
majority  of the platinum group metals mineralization encountered in the Chevron
Minerals  drilling  program  remains  untested  along  both  strike  and  dip.


<PAGE>
ALBANY,  WYOMING

     Location  and  Access.  The  Albany  platinum group metals property is also
located in southwest Albany County, Wyoming, approximately 35 miles southwest of
Laramie  in  the  Medicine  Bow-Routt  National  Forest.  The Albany property is
accessible  by  an  unimproved  dirt  road.

     Land  Status.  We  located  six  unpatented  mining  claims in this area in
mid-1999  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  Minor exploration for platinum group metals has been
conducted  previously  in  the  Albany  property area.  We have no specific data
regarding  previous  exploration  activities  or  results.

     Geology  and  Mineralization.  The  Albany  property  is  a
platinum-palladium-rhodium  occurrence  hosted  along the contact of mafic dikes
and a granite stock on the northern edge of a large iron-magnesium-rich complex.
Our  limited geochemical sampling program conducted in 1999 returned encouraging
platinum  group  metal  values.


SPRUCE  MOUNTAIN,  WYOMING

     Location and Access.  The Spruce Mountain platinum group metals property is
located  in  Albany  County, Wyoming, in the Medicine Bow-Routt National Forest.
The  Spruce  Mountain  property  is approximately 35 miles southwest of Laramie,
Wyoming  and  can  be  reached  by  paved  highways  and  gravel  roads.

     Land  Status.  We  have  staked 42 unpatented mining claims in this area in
mid-2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  Spruce  Mountain  is  situated  near  our  Lake Owen
property  and  the northwestern margin of the Lake Owen layered ultramafic/mafic
intrusive  complex  and  is  surrounded  to  the  north  by  the New Rambler and
Centennial  West  platinum group metals districts, and to the west by the Mullen
Creek  layered  ultramafic/mafic  intrusion.  Historically, exploration has been
conducted in the region for gold, silver, base metals and platinum group metals.

     Geology  and  Mineralization.  Our  claims  are located on a platinum group
metals  occurrence  within  mafic  intrusives  along an interpreted northwest to
east-west  trending  structural  zone.  The  area  is  characterized  by intense
shearing and hydrothermal alteration, which apparently concentrated the platinum
group  metals  that  were  present  in  the  surrounding  mafic  host  rocks.


CENTENNIAL  WEST,  WYOMING

     Location and Access.  The Centennial West platinum group metals property is
located  in  Albany  County, Wyoming, in the Medicine Bow-Routt National Forest.
The  Centennial  West  property  is approximately 35 miles southwest of Laramie,
Wyoming  and  can  be  reached  by  paved  highways  and  gravel  roads.

     Land  Status.  We  have staked 159 unpatented mining claims in this area in
September  2000  and  own  a  100%  interest  in  the  claim  block.


<PAGE>
     Exploration  History.  Exploration  has  occurred  throughout  this  area
historically, and small amounts of platinum group metals were produced by placer
mining  from  drainages.

     Geology.  Mafic,  ultramafic and metamorphic rocks overlie and host several
known  hydrothermal  platinum  group metal occurrences in dikes, veins and shear
zones.  Placer  gold  and  platinum  group metals are present in several streams
that  drain  the  area.


DOUGLAS  CREEK,  WYOMING

     Location  and  Access.     The Douglas Creek platinum group metals property
is located in Albany County, Wyoming, in the Medicine Bow-Routt National Forest.
The  Douglas  Creek  property  is  approximately  35 miles southwest of Laramie,
Wyoming  and  can  be  reached  by  unimproved  roads.

     Land  Status.     We  staked  34  unpatented  mining claims in this area in
October  2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.     Exploration  has  occurred  throughout  this area
historically,  and  minor  gold  and  platinum  group  metals  placer mining has
occurred  in  several  drainages  in  the  area.

     Geology  and  Mineralization.     Mafic,  ultramafic  and metamorphic rocks
overlie  and host several known hydrothermal platinum group metal occurrences in
dikes, veins and shear zones.  Placer gold and platinum group metals are present
in  several  streams  that  drain  the  area.


KEYSTONE,  WYOMING

     Location  and  Access.     The  Keystone  platinum group metals property is
located  in  Albany  County, Wyoming, in the Medicine Bow-Routt National Forest.
The  Keystone  property  is approximately 35 miles southwest of Laramie, Wyoming
and  can  be  reached  by  unimproved  roads.

     Land  Status.     We  staked  121  unpatented mining claims in this area in
October  2000  and  own  a  100%  interest  in  the  claim  block.
     Exploration  History.     Exploration  has  occurred  throughout  this area
historically,  and  minor gold and platinum group metals placer mining has taken
place  in  drainages  in  the  area.

     Geology  and  Mineralization.     Our  claims  are  located  on the eastern
portion  of  the  Mullen  Creek  layered  intrusive  complex,  which consists of
strongly  deformed  and  metamorphosed  mafic and ultramafic rocks.  The area is
situated  on  the  southwest  portion  of  the  New  Rambler  mining  district.


STILLWATER  COMPLEX  CLAIMS,  MONTANA

     Location  and  Access.  The Stillwater Complex Claims platinum group metals
property  is  located in Stillwater County in south central Montana.  The claims
are  situated  approximately  five  miles  southeast  of Nye, Montana and can be
reached  by  paved  highways  and  gravel  roads.

     Land  Status.  We  staked 79 unpatented lode claims in three separate claim
blocks  in  the  Stillwater  mafic-ultramafic layered intrusive complex in south
central  Montana  from July through October 2000. We own a 100% interest in each
of  the  claim  blocks.


<PAGE>
     Exploration  History.  Johns-Manville  Corporation  geologists  discovered
palladium  and  platinum  in  this area, approximately one mile from our claims,
during  the  early  1970s.  This discovery was developed as the Stillwater mine,
which  is  the  largest  producer  of  platinum  group  metals in North America.

     Geology  and  Mineralization.  Our claims are located within the Stillwater
mafic-ultramafic  layered  intrusive  complex  and  present a number of platinum
group  metal  targets  including chromite "reef"-type occurrences, basal massive
sulfide  deposits  containing  nickel,  copper  and  platinum  group metals, and
hydrothermal-type  targets.

MCCORMICK  CREEK,  MONTANA

     Location and Access.  The McCormick Creek platinum group metals property is
located  in northwest Missoula County, Montana, approximately 34 miles northwest
of  Missoula.  McCormick  Creek  can  be  reached  by public highways and access
roads,  and  an  unimproved  dirt  road.

     Land Status.  We located 36 unpatented mining claims in the McCormick Creek
area  in  2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  The  history of mineral exploration in the McCormick
Creek  area  is  currently  unknown.

     Geology  and  Mineralization.  The  McCormick  Creek  property  is  a
platinum-palladium-gold  occurrence hosted in a mafic dike that intruded altered
sediments  of the Burke Formation, which is the lowermost section of the Ravalli
Group  within  the  Belt  Supergroup.  The  dike  at McCormick Creek is one of a
series  of  sub-parallel,  repetitious  mafic  dikes  that  intruded the Ravalli
quartzites  throughout  the  region.

     The mafic dike that occurs on our property is located due south of the past
producing  Green  Mountain  copper-gold-platinum  mine, which is situated on the
Flathead  Indian Reservation. The mafic dike is possibly similar to, or possibly
an  extension  of, the Green Mountain dike. The dike may be geologically similar
with  respect  to  primary  sulfide mineralogy and associated platinum group and
precious  metal  mineralization.

POLE  CORRAL,  CALIFORNIA

     Location  and  Access.  The  Pole  Corral platinum group metals property is
located  on  Bureau  of  Land  Management  land  in  Tehema  County, California,
approximately  18  miles  southwest  of  Platina,  California.  The  property is
accessible  by  paved  highways  and  unimproved  dirt  roads.

     Land  Status.  We  located  79  unpatented  mining  claims  in this area in
mid-2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  Pole  Corral  is  situated  within  the  Rattlesnake
Terrain  of  the  Klamath  Mountains  geologic province.  Within the Pole Corral
project  area,  sporadic  exploration  and  mining  have occurred throughout the
1900s,  as  indicated by the prospect pits and small mines which we encountered.
During  our  preliminary  geochemical  sampling  program,  we  found encouraging
platinum  group  metals  mineralization.


<PAGE>
     Geology  and  Mineralization.  The  Pole  Corral  property  is  a
platinum-rhodium-ruthenium-iridium  occurrence  hosted  in  mafic  rocks  of the
Rattlesnake  Terrain.  Podiform  and disseminated chromite have been encountered
on our property and throughout the region.  Zoned felsic intrusives comprise the
margins  of  the  mafic  rocks  and  are  also manifest as pegmatoids within the
project  area.


SHAMROCK,  OREGON

     Location  and  Access.  The  Shamrock  platinum  group  metals  property is
located  on  Bureau  of  Land  Management  land  in  Jackson  County,  Oregon,
approximately  21  miles  northwest  of  the  city  of Medford.  The property is
accessible  by  unimproved  dirt  roads.

     Land  Status.  We  located  five  unpatented  mining claims in this area in
mid-1999  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  During  the  first  half  of  the  20th century, the
Shamrock  property  area  was  explored  for  mercury,  copper  and  nickel.

     The U.S. Bureau of Mines conducted extensive exploration and development of
the  nickel-copper-cobalt  mineralization  in 1949 and 1950.  This work included
the  construction  of 4,000 feet of mine access roads, rehabilitating two adits,
driving  approximately  an additional 400 feet of drifts and crosscuts, drilling
eleven  diamond  core  drill holes totaling approximately 3,400 feet, excavating
five  exploration  bulldozer  trenches,  and  conducting  extensive  auger-hole
sampling  and  metallurgical  testing.

     The  U.S.  Bureau  of  Mines  encountered  anomalous  platinum group metals
mineralization  in  drill  hole composite samples and delineated two small, near
surface  base metal ore deposits.  The Bureau reported assay results from a bulk
metallurgical  sample of 0.030 ounce per ton platinum, 1.3% nickel, 1.1% copper,
and  0.07%  cobalt.

     The  U.S.  Bureau  of  Mines  mapped  the  surface  exposure  of  sulfide
mineralization,  which extends for at least 200 feet long and 200 feet deep, and
ranges  from about five to 38 feet wide.  The Bureau also discovered a four-foot
wide  zone  of  nickel sulfide mineralization at the base of a road cut 500 feet
southwest  from  the  main  norite  dike.  This  sulfide  zone  may  represent a
parallel,  mineralized  mafic  dike  that  has  not  yet  been  evaluated.

     During  the  mid-1980s,  Freeport  Exploration  investigated  the  Shamrock
property for its platinum group metals potential.  Freeport staked approximately
40  lode  claims,  conducted geologic mapping, surface and underground sampling,
and  completed  about  nine  miles of ground magnetic surveys.  In June 1999, we
staked  our  five  lode  claims  on  ground where Freeport had located its drill
holes,  and  we  conducted  limited surface and underground geologic mapping and
sampling.  All of our underground samples returned encouraging precious and base
metal  mineralization.

     Geology  and  Mineralization.  The  Shamrock  property  is a platinum group
metals,  gold,  copper, nickel, and cobalt occurrence associated with dikes that
intrude  rocks  of the May Creek Formation.  The May Creek Formation is composed
of  quartz-mica  schist,  iron-magnesium-rich  schist/gneiss, and highly altered
quartzite.  Various  intrusive  rocks  are  also  present  on  the  property.

     Platinum group metals, gold, nickel, copper, and cobalt are probably hosted
in  magmatic  pyrite and other sulfide minerals.  These sulfides may comprise as
much  as  40%  of the rock and occur as disseminations, blebs, and masses within
the  tabular,  course-grained, highly altered dikes.  Weak but pervasive sulfide
mineralization  is  also  disseminated throughout most of the adjacent May Creek
Formation.


<PAGE>
HARD  ROCK  JOHNSON,  NEVADA

     Location  and Access.  The Hard Rock Johnson platinum group metals property
is  located  on  Bureau  of  Land  Management  land  in  Clark  County,  Nevada,
approximately  25  miles  southwest  of  the  town of Mesquite.  The property is
accessible  by  a  gravel  road.

     Land  Status.  We  located 13 unpatented mining claims in this area in 1999
and  early  2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration  History.  The  Hard Rock Johnson property is located along the
northern  flank  of  the  Virgin  Mountains within the Bunkerville (Copper King)
Mining  District.  Two  principal copper and precious metals mines, the Key West
and Great Eastern, have been worked sporadically from the 1890s, when copper was
discovered  in  the  area.  A  third  party  currently controls the 140 acres of
patented  land  and eight unpatented lode claims that encompass the Key West and
Great  Eastern  mines,  adjoining  our  mining  claims.  Our  claims  cover  the
on-strike  extension  of  the  mineralized  zone  to  the  northeast.

     Geology  and  Mineralization.  The  Hard  Rock  Johnson property is located
within  the  historic  Bunkerville  Mining  district,  which  produced platinum,
palladium,  gold, silver, copper, lead, nickel, tungsten and cobalt.  The claims
are  situated  within  a  northeast-trending  belt  of gneiss and schist that is
crosscut  by  fault  zones  and  intruded  by  irregular,  coarse grained dikes.
Precious  and  base  metal  mineralization  is  hosted  within  dikes that occur
throughout  the  project  area.

     The zone of mineralization is over 2,000 feet wide and extends at least two
miles  in  strike  length  along a north 70 degrees east structural zone that is
parallel to the regional metamorphic foliation.  The primary sulfides associated
with  platinum group metals are chalcopyrite, pyrite, pyrrhotite, and magnetite,
which  occur as disseminated grains and pods throughout the dikes.  Platinum and
nickel  are  most  likely  associated  with  magmatic  pyrite.

WILLOW  SPRINGS,  NEVADA

     Location  and Access.  The Willow Springs platinum group metals property is
located  in Nye County, Nevada.  The Willow Springs property is approximately 30
miles  north  of Tonopah, Nevada and can be reached by paved highways and gravel
roads.

     Land  Status. We staked 31 unpatented lode claims in this area during March
2000  and  own  a  100%  interest  in  the  claim  block.

     Exploration History. Several shafts and prospects dating from the 1800s are
present  in  the  area.

     Geology  and Mineralization. Our claim area contains mafic-ultramafic rocks
that  are  surrounded  by sediments.  The area hosts anomalous nickel and copper
mineralization  over a three-mile strike length, part of which is on our claims,
that occurs as stains and disseminations within the mafic and sedimentary rocks.
Reconnaissance  geochemical  samples  collected  by  us  during  2000  returned
anomalous  platinum  group  metal  values.


<PAGE>
PETER  LAKE,  SASKATCHEWAN,  CANADA

     Location  and  Access.  The  Peter  Lake  platinum  group  metals property,
formerly  named  Reindeer  Lake,  is  located  near  Peter  Lake  in  northern
Saskatchewan, Canada, approximately 190 air miles north/northeast from La Ronge,
Saskatchewan.  The  property  is  accessible  only  by  airplane  or helicopter.

     Land  Status.  The  Peter Lake property consists of five mining claim units
covering  approximately  27,000  hectares,  or 67,000 acres, or about 100 square
miles.  We  own  100%  of  the  mining  claim  units.

     Exploration History.  The Peter Lake claims are a portion of the Peter Lake
intrusive  complex.  In  1982,  exploration  geologists  discovered platinum and
palladium-bearing  sulfides  in  this  area.  During  the  mid-1980s, additional
exploration  revealed  that  the  lower  gabbroic  sequence  contained
platinum-palladium-copper-nickel  occurrences  spread  over  a  strike length of
approximately  81 miles.  Additional exploration work was completed this year in
the  area  by  another  company.

     Geology  and  Mineralization.  The Peter Lake complex, with a length of 180
kilometers (approximately 112 miles) and a width of 30 kilometers (approximately
19 miles), is one of the largest layered complexes in the world.  The Peter Lake
complex  represents  reef  type  platinum  group  metals mineralization that has
undergone  some  metamorphism  and  hydrothermal  remobilization.

     Two  types  of  mineralization  are  present in the Archean aged Peter Lake
layered  complex.  The  lowermost  sequence of the complex consists of primarily
cumulate  layering  of  anorthosite and pyroxenite with sulfides concentrated at
the  lithological  boundaries.  Metamorphism has altered pyroxenes to amphiboles
and  obliterated  much  of  the  layering.  The  thickness  of  this  zone  is
approximately  2  kilometers.  An  upper  sequence  separated  by a gneissic and
granitic  zone  shows,  in  its basal part, textures that include marginal mixed
magma  textures, inclusion breccia zones and plagioclase-hornblende veinlets, as
well  as  hosting ultramafic and mafic dikes.  The upper sequence has a width of
over  1.5  kilometers.

DROPPED  PGE  PROPERTIES

VANGUARD,  MONTANA

     Location and Access.  The Vanguard platinum group metals property, formerly
named Lady of the Lake, was located on Bureau of Land Management land in Madison
County,  Montana.  The  property is approximately 12 miles northeast of Sheridan
and  is  accessible  only  by  helicopter  or  trail.

     Land Status.  In early 2000, we located 121 unpatented mining claims in the
Lady  of  the  Lake  layered  iron-magnesium-rich  complex.

     Exploration  History.  The  Vanguard  area  was  initially  mapped  and
geochemically  sampled  in  the  mid-1980s  by a small exploration company.  Our
review  of  the  results  of  that  program indicated the existence of anomalous
platinum,  palladium  and  gold  values  throughout  the  district.

     Geology  and  Mineralization.  The  Vanguard  property  is  a
platinum-palladium-gold  occurrence  hosted  in  an  iron-magnesium-rich layered
intrusive  complex  that  is  approximately 1,500 feet thick.  Three zones, from
bottom  to top, characterize this layered complex.  The lowermost zone is formed
of  coarse-grained, dark, chrome-iron-magnesium-rich rocks, and the rocks become
progressively  lighter  in  color, less rich in iron and magnesium and more soda
and  lime  enriched  towards  the  top.


<PAGE>
     A  large  body  of  granite  of  Cretaceous  age intersects portions of the
complex,  and  geologic  mapping  evidence  suggests  that  this  intrusive  may
represent  a  possible  border  phase  of  the  granite itself.  Sulfides in the
layered  intrusive  complex  consist  of  pyrite  and  chalcopyrite,  which were
probably formed with the rocks.  These sulfides are also concentrated in younger
hydrothermal  veins.  A third type of sulfide occurrence is observed as a "reef"
zone.  The  highest  platinum group metals values are associated with the middle
portion  of  the  complex and the sulfide reef.  The reef is poorly exposed, but
where  it crops out, the zone ranges in thickness from five to ten feet.  Select
samples  collected  from  the  sulfide reef showed encouraging platinum and gold
mineralization.

     Status. The Company elected to not pay its claim filing fees in August 2001
and  therefore  has  terminated  its  interest  in  the  property.

INTREPID,  MONTANA

     Location  and  Access.  The  Intrepid  platinum  group metals property were
comprised  of  eight  unpatented mining claims located within the Vanguard claim
block  in  Madison  County,  Montana.  The  property  is  approximately 12 miles
northeast  of  Sheridan  and  is  accessible  only  by  helicopter  or  trail.

Land  Status.  In  May  2000,  we  entered  into  a  three year lease and option
agreement  under  which  we  have  the  right  to acquire a 100% interest in the
Intrepid  claims.  Upon  entering  into  the agreement, we paid the claim owners
$5,800  and  100,000  shares of common stock.  Under this agreement, the Company
was  obligated  to  incur  exploration  expenditures of not less than $10,000 by
September  30,  2001, $15,000 by March 4, 2002 and $15,000 by March 4, 2003.  In
addition,  the  Company  was to have made advance royalty payments of $10,000 by
March  4,  2001,  $25,000 by March 4, 2002 and $35,000 each year thereafter.  In
March  2001,  the  Company  and  the  claim  holders agreed to replace the March
$10,000  advance  royalty  payment  with a $9,000 payment due May 11, 2001. Only
$1,000 of this royalty payment was made. Also in connection with this agreement,
the  Company issued to the holders 3,000 shares of common stock on March 11 with
an  aggregate  value  of  $2,340.  By  the  date of this report, the Company had
elected  to  withdraw from the lease and option agreement on the Intrepid claims
and  is  negotiating  with the Lessors over final payments to be made, which are
due  and  owing  under  the  agreement.

CISCO  BUTTE,  CALIFORNIA

     Location  and  Access.  The  Cisco Butte platinum group metals property was
located in Nevada County, California.  The Cisco Butte property is approximately
50  miles  northwest  of  the  town  of  Red  Bluff, and can be reached by paved
interstate  highway  and  gravel  roads.

     Exploration  History.  No  evidence  of  previous  exploration was observed
within  our  claim  block.

     Geology and Mineralization.  Our claims were located on the eastern portion
of  the  Emigrant  Gap mafic-ultramafic terrain, which measures approximately 14
miles long and five miles wide.  Samples collected during initial reconnaissance
activities  detected  anomalous  platinum  group  metals  mineralization  within
mafic-ultramafic  rocks.

     Land  Status.  We  staked  33  unpatented  lode  claims in this area during
September 2001 and owned a 100% interest in the claim block. The Company elected
to not pay its claim filing fees in August 2001 and therefore has terminated its
interest  in  the  property.


<PAGE>
OTHER  PROPERTIES

     During  the  year  ended  September  30,  1998,  we  purchased, through the
issuance of 150,000 shares of common stock, the Rae Wallace Company, which owned
four  patented  mining  claims  located just north of Anchorage, Alaska.  In May
1999, we sold the Rae-Wallace Company to another exploration company for $20,000
and  retained  a 2.5% net smelter return production royalty on the production of
minerals  from  the  property.

     We  have  recently  sold,  or  are  holding  for  sale the other properties
described  below, which had been acquired for their potential for minerals other
than  platinum  group  minerals.

     -    In  July 2001, we sold 15 unpatented mining claims in Kootenai County,
          Idaho,  comprising  the  Silver  Strand  property to New Jersey Mining
          Company  in  exchange  for 50,000 shares of its common stock valued at
          $5,000  and its commitment to spend a total of $200,000 on exploration
          of  the  property  over  the three year period ending in July 2003. We
          also retained a 1.5% net smelter return production royalty, decreasing
          to  0.5%  once  we  have  received  payments  totaling $50,000, on the
          production  of  minerals  from  the Silver Strand property. During the
          three  year period, we may reacquire the property if New Jersey Mining
          Company  does  not  complete  the  required expenditures or chooses to
          terminate  the  purchase agreement. Kurt Hoffman, our President, Chief
          Executive  Officer  and  a  director,  was  formerly a director of New
          Jersey  Mining  Company. Mr. Hoffman resigned from New Jersey in July,
          2001.  Fred  Brackebusch, the President, Treasurer, and a director and
          majority  owner of New Jersey Mining Company, was one of our directors
          until  March  2001.

     -    Subsequent  to  the  fiscal  year  end  we  sold the Pyramid property,
          consisting  of  five  unpatented  mining  claims  in Churchill County,
          Nevada,  to  Calumet  Mining  Company, a related party. Calumet Mining
          Company  is  a  related party by virtue of the fact that Mr. Ryan, our
          Chief  Financial  Officer  and  a  Director of the Company, is also an
          Officer  and  Director  of Calumet. Further, Thomas Mancuso, our Chief
          Operating Officer, is a consultant to and major shareholder of Calumet
          Mining  Company.  The  Pyramid property was sold to Calumet for 50,000
          shares  of  the  common  stock  of Calumet. The Company retained a net
          smelter return royalty in the property should the Pyramid be placed in
          production  in  the  future.  This transaction is not an "arms-length"
          transaction  by  virtue  of  the  related  character  of  the parties.
          Therefore, the consideration paid for the Pyramid may be considered as
          being  totally  arbitrary  and  not  the  product  of  substantial
          negotiation.

OUR  EXPLORATION  PROCESS

     Our  exploration  program  is  designed  to  acquire,  explore and evaluate
exploration properties in an economically efficient manner.  We have not at this
time  identified  or delineated any platinum group metals reserves on any of our
properties.

     Our  current  focus  is  primarily  on  the  evaluation  of our exploration
properties,  particularly  the Lake Owen and Peter Lake properties since we have
substantial  work commitments to complete in order to retain our property rights
therein.  As  indicated above, we have formulated specific exploration plans for
our  Lake Owen property, however, nothing specific has been formulated for Peter
Lake  at  the  date  of  this  report.  Depending on the amount of funds we have
available,  we  may  also  conduct  work  in  fiscal  year  2002 on other of our
portfolio  properties.


<PAGE>
     We  expect our exploration work on a given property to proceed generally in
three  phases.  Our  first phase typically begins with research of the available
geologic  literature,  as  well  as  personal interviews with geologists, mining
engineers  and  others  familiar  with the prospect sites.  When the research is
completed,  we  augment  this  initial  work  with geologic mapping, geophysical
testing  and  geochemical  testing  of  our  claims.  We  examine  any  existing
workings, such as trenches, prospect pits, shafts or tunnels.  If we identify an
apparent  mineralized zone and are able to narrow it down to a specific area, we
begin  trenching  the  area.  Trenches  are  generally approximately 150 feet in
length  and  10  to  20  feet  wide.  These  dimensions  allow  for  a  thorough
examination  of  the surface of the vein structure types that we would expect to
encounter  at  our  properties.  They  also  allow  for  efficient  reclamation,
re-contouring and re-seeding of disturbed areas.  Once excavation of a trench is
completed,  samples  are  taken and analyzed for economically potential minerals
that are known to have occurred in the area in question.  Careful interpretation
of the data collected from the various tests assists us in determining whether a
prospect  has  current  economic  potential  and  whether further exploration is
warranted.

     Subject  to  obtaining  the necessary permits in a timely manner, the first
phase  can typically be completed on an individual property in several months at
a  cost of less than $300,000.  We have completed research on and examination of
each  of  our  properties,  and  have  commenced  sampling  on  our  Lake  Owen,
Stillwater,  and  McCormick  Creek  properties.

     Our  second  phase  would involve an initial examination of the underground
characteristics  of  mineralization  that  has been identified at any particular
property  during  the  first  phase  of  the exploration program.  This phase is
intended to identify any mineral deposits of potential economic importance.  The
methods  employed  would  include:

     -    more  detailed  geologic  mapping;
     -    more  advanced  geochemical  and  geophysical  surveys;
     -    more  extensive  trenching;  and
     -    exploration  drilling.

     Subject  to  obtaining the necessary permits in a timely manner, the second
phase can typically be completed on an individual property in six to nine months
at  a  cost  of  less  than  $1 million.  None of our properties has reached the
second  phase.

     Our  third phase would be aimed at precisely defining depth, width, length,
tonnage  and  value  per  ton of any deposit that has been identified.  We would
accomplish  this  through  development  drilling,  metallurgical  testing,  and
obtaining  other  pertinent  technical  information  required  to  define an ore
reserve  and  complete  a  feasibility  study.  Depending upon the nature of the
particular  deposit, the third phase on any one property could take 1 to 5 years
or  more  and  cost  up  to  $20,000,000  or  more.

     We  intend  to  explore  and develop our properties ourselves, although our
plans  could change depending on the terms and availability of financing and the
terms  or  merits  of  any  joint  venture  proposals.


<PAGE>
                            ENVIRONMENTAL COMPLIANCE

     Our  primary  cost  of  complying with applicable environmental laws during
exploration is likely to arise in connection with the reclamation of drill holes
and  access  roads.  Drill  holes  typically can be reclaimed for nominal costs,
although  the  Bureau  of  Land  Management  recently  promulgated  new  surface
management regulations which may significantly increase those costs on Bureau of
Land  Management  lands.  Access  road  reclamation  may  cost  up to $50,000 to
$100,000  if  roadbuilding  has  been  done,  and  those costs too are likely to
increase  as  the result of the new Bureau of Land Management regulations. As we
are  currently  in  the  exploration stage on all of our properties, reclamation
costs  have  not  yet  been  incurred.

                                    EMPLOYEES

     Currently,  we  have  five employees. Three of the employees are full-time,
two  are  part-time.


                                  RISK FACTORS

     An  investment  in  Trend Mining involves a high degree of risk.  Investors
and  prospective investors should consider carefully the following risk factors,
in  addition  to  all  of  the other information in this registration statement.

NO  PRODUCTION  HISTORY  SINCE  THE 1980S - WE HAVE NOT MINED ANY PLATINUM GROUP
METALS.

     While we were incorporated in 1968, our company has no history of producing
platinum  group  metals.  We  have  not  developed  or operated a mine since the
1980s,  and  we have no operating history upon which an evaluation of our future
success  or failure can be made.  Our ability to achieve and maintain profitable
mining  operations  is  dependent  upon  a  number  of  factors,  including:

     -    our  ability  to locate an economically feasible mineral property; and
     -    our ability to successfully build and operate mines, processing plants
          and  related  infrastructure.

     We  are  subject  to  all the risks associated with establishing new mining
operations  and  business  enterprises.  There  can be no assurance that we will
successfully establish mining operations or profitably produce platinum group or
other  metals  at  any  of  our  properties.

HISTORY  OF  LOSSES  -  WE EXPECT LOSSES TO CONTINUE FOR AT LEAST THE NEXT THREE
YEARS.

     As  an  exploration  company that has no recent production history, we have
incurred  losses  since  the  inception of our current exploration activities in
1998.  We  expect  to  continue to incur additional losses for at least the next
three  years  due  to  expenses  associated  with  the research, exploration and
development  of  our  mineral  properties.  As  of September 30, 2001, we had an
accumulated deficit of approximately $6,624,000.  There can be no assurance that
we  will  achieve  or  sustain  profitability  in  the  future.

WE  ARE  SUBJECT  TO  ALL  OF  THE  RISKS  INHERENT  IN  THE  MINING  INDUSTRY.

     As  an  exploration  stage  company,  our  work  is  highly speculative and
involves  unique  and  greater  risks  than  are generally associated with other
businesses.  There  can  be  no  assurance  that any of our properties contain a
commercially  viable  ore  body or reserves until additional exploration work is


<PAGE>
done  and  an  evaluation  based  on such work concludes that development of and
production  from the ore body is technically, economically and legally feasible.
We  are  subject to all of the risks inherent in the mining industry, including,
without  limitation,  the  following  (some  of  which we discuss in more detail
below):

     -    Success  in  discovering and developing commercially viable quantities
          of  minerals  is  the  result  of  a  number of factors, including the
          quality  of  management,  the  interpretation  of geological data, the
          level  of  geological  and technical expertise and the quality of land
          available  for  exploration;

     -    Exploration  for  minerals  is  highly  speculative  and  involves
          substantial  risks, even when conducted on properties known to contain
          significant  quantities  of  mineralization,  and  most  exploration
          projects  do  not  result  in  the  discovery of commercially mineable
          deposits  of  ore;

     -    Operations  are  subject to a variety of existing laws and regulations
          relating to exploration and development, permitting procedures, safety
          precautions, property reclamation, employee health and safety, air and
          water  quality standards, pollution and other environmental protection
          controls,  all  of  which  are subject to change and are becoming more
          stringent  and  costly  to  comply  with;

     -    A  large  number of factors beyond our control, including fluctuations
          in  metal  prices  and  production costs, inflation, the proximity and
          liquidity  of  precious  metals  markets  and  processing  equipment,
          government  regulations,  including  regulations  relating  to prices,
          taxes,  royalties,  land  tenure, land use, importing and exporting of
          minerals  and environmental protection, and other economic conditions,
          will  affect  the  economic  feasibility  of  mining;

     -    Once  mineralization is discovered, it may take several years from the
          initial  phases of drilling until production is possible, during which
          time  the  economic  feasibility  of  production  may  change;

     -    Substantial expenditures are required to establish proven and probable
          ore reserves through drilling, to determine metallurgical processes to
          extract the metals from the ore and, in the case of new properties, to
          construct  mining  and  processing  facilities;  and

     -    If  we  proceed  to  development  of  a  mining  operation, our mining
          activities  would  be  subject  to  substantial  operating  risks  and
          hazards,  including  metal  bullion  losses,  environmental  hazards,
          industrial  accidents,  labor  disputes,  encountering  unusual  or
          unexpected  geologic formations or other geological or grade problems,
          encountering  unanticipated  ground  or  water  conditions,  cave-ins,
          pit-wall failures, flooding, rock falls, periodic interruptions due to
          inclement weather conditions or other unfavorable operating conditions
          and  other  acts  of  God.  Some  of  these  risks and hazards are not
          insurable or may be subject to exclusion or limitation in any coverage
          which  we obtain or may not be insured due to economic considerations.

OUR  ACTIVITIES  ARE  SUBJECT  TO  ENVIRONMENTAL  LAWS AND REGULATIONS WHICH MAY
MATERIALLY  AFFECT  OUR  FUTURE  OPERATIONS.

     We,  like  other  exploration companies doing business in the United States
and  Canada,  are  subject  to a variety of federal, provincial, state and local
statutes,  rules  and  regulations  designed:


<PAGE>
     -    to protect the environment, including the quality of the air and water
          in  the  vicinity  of  exploration, development and mining operations;

     -    to  remediate  the  environmental  impacts  of  those  exploration,
          development  and  mining  operations;

     -    to  protect  and  preserve  wetlands  and  endangered  species;  and

     -    to  mitigate  negative  impacts  on certain archeological and cultural
          sites.

     We  are  required  to  obtain  various  governmental  permits  to  conduct
exploration  at our properties.  Obtaining the necessary governmental permits is
often  a  complex and time-consuming process involving numerous U.S. or Canadian
federal, provincial, state and local agencies.  The duration and success of each
permitting effort are contingent upon many variables not within our control.  In
the  context of permitting, including the approval of reclamation plans, we must
comply  with  known  standards,  existing  laws  and regulations that may entail
greater or lesser costs and delays depending on the nature of the activity to be
permitted  and the interpretation of the laws and regulations implemented by the
permitting authority.  Currently, three or four months are generally required to
obtain  the  necessary  permits  required  to  conduct  small-scale  drilling
operations.  New surface management regulations recently finalized by the Bureau
of Land Management will increase this period on Bureau of Land Management lands.
The failure to obtain certain permits, the adoption of more stringent permitting
requirements  or  the imposition of extensive conditions upon the implementation
of  certain  permits  could  have  a  material  adverse  effect on our business,
operations  and  prospects.

     Federal  legislation  and implementing regulations adopted and administered
by  the  U.S.  Environmental  Protection  Agency, Forest Service, Bureau of Land
Management,  Fish and Wildlife Service, Army Corps of Engineers, Mine Safety and
Health  Administration,  and other federal agencies, and legislation such as the
federal  Clean  Water  Act,  Clean  Air  Act, National Environmental Policy Act,
Endangered  Species  Act  and Comprehensive Environmental Response, Compensation
and  Liability  Act,  have a direct bearing on U.S. exploration, development and
mining  operations.  For  example,  on  November  20,  2000  the  Bureau of Land
Management finalized new surface management regulations applicable to activities
and  operations  on  unpatented  mining  claims.  Those  new  regulations  make
small-scale  (disturbing  less  than  5 acres of surface) exploration activities
more  expensive,  by  requiring bonding in the amount of 100% of the anticipated
reclamation  costs.  Larger-scale  exploration activities (disturbing 5 acres of
surface  or more) would require the preparation and approval of a formal plan of
operations.  The  enactment  of  these new regulations will make the process for
preparing  and  obtaining  approval  of  a  plan  of  operations  much more time
consuming, expensive, and uncertain.  New plans of operation will be required to
(i)  include  detailed  baseline  environmental  information,  (ii)  address how
detailed  reclamation  performance  standards  will be met, (iii) go through the
environmental  assessment  or  impact  process  required  under  the  National
Environmental  Policy  Act  (which  could  cost  $80,000 or more per large-scale
exploration  program),  and (iv) go through a 30-day public comment period prior
to  approval.  In  addition,  all  activities  for  which plans of operation are
required  will  be  subject  to  a  new standard of review by the Bureau of Land
Management,  which  must  make  a  finding  that  the  conditions,  practices or
activities  do not cause substantial irreparable harm to significant scientific,
cultural, or environmental resource values that cannot be effectively mitigated.
This  standard  has never before been applied to activities involving unpatented
mining  claims  on  public  lands.  Due  to  the  uncertainties  inherent in the
permitting  process,  and  particularly  as a result of the enactment of the new
regulations, we cannot be certain that we will be able to timely obtain required
approvals  for  proposed activities at any of our properties in a timely manner,
or  that  our  proposed  activities  will  be  allowed  at  all.


<PAGE>
     These federal initiatives are often administered and enforced through state
agencies operating under parallel state statutes and regulations.  Although some
mines  continue to be approved for development in the United States, the process
is  increasingly  cumbersome,  time-consuming,  and  expensive, and the cost and
uncertainty  associated with the permitting process could have a material effect
on  exploring,  developing  or  mining  our properties.  We expect that laws and
regulations  designed  to  minimize  the  impact of exploration, development and
mining  activities  on  the  environment and human health and safety will likely
have  a  similar  effect  on  any  activities  we  undertake  in  Canada.

     Compliance  with  statutory  environmental  quality  requirements described
above  may require significant capital outlays, significantly affect our earning
power,  or  cause material changes in our intended activities.  No assurance can
be  given that environmental standards imposed by either federal, state or local
governments will not be changed or become more stringent, which could materially
and  adversely  affect  our  proposed  activities.

TITLE  TO  OUR  MINERAL  PROPERTIES  MAY  BE  DEFECTIVE  AND  MAY BE CHALLENGED.

     Our  interests  in  our  properties located in the United States are in the
form  of unpatented mining claims.  Unpatented mining claims are unique property
interests,  in that they are subject to the paramount title of the United States
of  America  and  rights  of third parties to certain uses of the surface and to
non-locatable  minerals within their boundaries, and are generally considered to
be  subject  to  greater  title  risk  than  other real property interests.  The
validity  of  all  unpatented  mining  claims  is  dependent  upon  inherent
uncertainties  and  conditions.  These  uncertainties relate to matters such as:

     -    The  existence  and  sufficiency  of a discovery of valuable minerals,
          required  under  the  U.S. 1872 Mining Law to establish and maintain a
          valid  unpatented  mining  claim;

     -    Proper  posting  and marking of boundaries in accordance with the 1872
          Mining  Law  and  applicable  state  statutes;

     -    Whether  the  minerals  discovered  were  properly locatable as a lode
          claim  or  a  placer  claim;

     -    Whether sufficient annual assessment work has been timely and properly
          performed;  and

     -    Possible  conflicts  with  other  claims  not  determinable  from
          descriptions  of  record.

     The validity of an unpatented mining claim also depends on the claim having
been  located  on  unappropriated  federal land open to appropriation by mineral
location,  compliance  with the 1872 Mining Law and applicable state statutes in
terms  of  the contents of claim location notices or certificates and the timely
filing and recording of the same, and timely payment of annual claim maintenance
fees  (and  the  timely  filing and recording of proof of such payment).  In the
absence of a discovery of valuable minerals, the ground covered by an unpatented
mining  claim  is  open  to  location  by  others  unless the owner is in actual
possession  of and diligently working the claim.  There can be no assurance that
the  unpatented  mining  claims we own or control are valid or that the title to
those  claims  is  free  from  defects.  There also can be no assurance that the
validity  of  our  claims  will  not  be  contested by the federal government or
challenged  by  third  parties.


<PAGE>
LEGISLATIVE  AND  ADMINISTRATIVE  CHANGES  TO  THE  MINING LAWS COULD MATERIALLY
ADVERSELY  AFFECT  OUR  FUTURE  EXPLORATION,  DEVELOPMENT  OR MINING ACTIVITIES.

     New  laws  and  regulations,  amendments  to existing laws and regulations,
administrative  interpretation  of  existing  laws  and  regulations,  or  more
stringent  enforcement  of  existing laws and regulations, could have a material
adverse  impact  on  our  ability to conduct exploration, development and mining
activities.  For  example,  during the 1999 legislative session, legislation was
considered in the U. S. Congress which proposed a number of modifications to the
Mining  Law  of  1872,  which governs the location and maintenance of unpatented
mining claims and related activities on federal land.  Among these modifications
were  proposals which would have imposed a royalty on production from unpatented
mining  claims,  increased  the cost of holding and maintaining such claims, and
imposed  more  specific reclamation requirements and standards for operations on
such  claims.  None  of  these proposed modifications was enacted into law.  The
same  or  similar  proposals  may  be considered by Congress this year or in the
future.  In  addition,  as  discussed  above, on November 20, 2000 the Bureau of
Land  Management  finalized  revised  federal  regulations  which govern surface
activities  (including  reclamation  and  financial  assurance  requirements) on
unpatented  mining  claims (other than those located in a National Forest, which
are  governed by separate, but similarly stringent, Forest Service regulations).
Those regulations are more stringent than current regulations, and may result in
a  more  detailed  analysis  of  and more challenges to the validity of existing
mining  claims,  will impose more complex permitting requirements earlier in the
exploration  process,  and will be more costly and time-consuming to comply with
than  existing  regulations.

USE  OF  THE  SURFACE  OF  OUR UNPATENTED MINING CLAIMS IS SUBJECT TO REGULATION
WHICH  COULD  MATERIALLY  ADVERSELY  AFFECT  OUR  ACTIVITIES.

     Any  activities  we  conduct on the surface of our unpatented mining claims
are  subject  to  compliance with and may be constrained or limited by Bureau of
Land Management or Forest Service surface management regulations (in addition to
the  environmental  and  other  statutes  and  regulations discussed above).  In
addition,  there  are  limits  to  the  uses of the surface of unpatented mining
claims, particularly for the types of facilities which would be ancillary to our
mining operations, and both the Bureau of Land Management and the Forest Service
have  some  degree of discretion in allowing the use of federal lands that might
adjoin any of our unpatented mining claims for surface activities which we would
need for exploration, development and mining operations.  Recently, for example,
the  Forest  Service  adopted  a  "Roadless  Initiative"  which  prohibits  the
construction of new roads or the re-construction of existing roads in 43 million
acres  of  inventoried roadless areas within the National Forest System.  All of
our  Wyoming properties (Lake Owen, Spruce Mountain, Albany and Centennial West)
are located in the National Forest and may be impacted by this new policy.  As a
result,  there  can  be  no  guarantee that we will be able to obtain the access
necessary  to  conduct  required  exploration,  development or ultimately mining
activities  on those properties.  In addition, to the extent we progress towards
the  development  of  a mine at any of our properties, there can be no assurance
that  sufficient  surface  land  will  be available for the ancillary facilities
necessary  to  develop  the  mine.

WE  CANNOT  INSURE  AGAINST  ALL  OF  THE  RISKS  ASSOCIATED  WITH  MINING.

     We  currently are not insured against most commercial losses or liabilities
which  may  arise  from our exploration and other activities.  Even if we obtain
additional insurance in the future, we may not be insured against all losses and
liabilities  which  may arise from our activities, either because such insurance
is  unavailable or because we have elected not to purchase such insurance due to
high  premium  costs  or  for  other  reasons.


<PAGE>
WE  MAY  NOT  BE  ABLE  TO  RAISE THE FUNDS NECESSARY TO EXPLORE AND DEVELOP OUR
MINERAL  PROPERTIES.

     We  need  to  seek  additional financing from the public or private debt or
equity  markets  to continue our business activities.  We have borrowed from our
principal  shareholder  to  fund  certain  of  our  activities.  There can be no
assurance that our principal shareholder will continue to advance funds to us or
that  our  efforts to obtain financing will be successful.  We will need to seek
additional  financing  to complete our exploration and development of any target
properties,  should  the  exploration  program  prove  a  property  to  be worth
developing.  Sources  of  such external financing include future debt and equity
offerings,  and  possible  joint  ventures  with  another  exploration or mining
company.  There  can be no assurance that additional financing will be available
on  terms  acceptable  to  us.  The  failure to obtain such additional financing
could  have a material adverse effect on our results of operations and financial
condition.  There  can  be  no  assurance  that  we  will  be able to secure the
financing  necessary  to  retain  our  properties  or  to  sustain  exploration
activities  in  the  future.

     In  addition, we issued in a private placement to Mr. Kaplan, our principal
shareholder, one share of Series A preferred stock following our reincorporation
in  Delaware.  The  terms  of  the  Series  A  preferred stock provide that each
issuance  by  us  of  common  stock, preferred stock, options, warrants or other
equity  securities,  which  may  be  necessary  or desirable to raise additional
financing  on  acceptable terms, would require the written consent of Mr. Kaplan
or  the  then  current  holder  of  the Series A preferred stock.  Under certain
circumstances, Electrum LLC, which beneficially owns approximately 23 percent of
our  outstanding  common  stock,  and  Asher  Edelman,  who  beneficially  owns
approximately  16 percent of our outstanding common stock, would be permitted to
acquire  the Series A preferred stock to be held initially by Mr. Kaplan.  There
can  be  no assurance that we will be able to obtain the required consent of the
holder  of  the  Series  A  preferred  stock.

COMPETITION  -  WE  COMPETE AGAINST LARGER, BETTER FINANCED AND MORE EXPERIENCED
COMPANIES.

     The  exploration  industry  is  very  competitive.  Exploration  companies
compete  to  obtain  and  to  evaluate exploration prospects for their drilling,
exploration,  development,  and,  ultimately,  mining  potential.  We  encounter
competition  from  both  larger,  better-financed  companies, such as Stillwater
Mining  Company,  and  other  similarly  situated  junior  mining  companies  in
connection  with  the acquisition of properties with the potential of profitably
producing  platinum  group  metals.  There  can  be  no  assurance  that  such
competition,  although  customary  in  the  industry, will not result in delays,
increased  costs,  or other types of negative consequences affecting us, or that
our  planned  exploration program will yield commercially mineable ore reserves.

WE  DEPEND  ON  THE  SERVICES  OF  KEY  PERSONNEL.

     The success of our exploration program will depend, in part, on our ability
to  retain  our  existing  employees, and on our ability to hire such additional
employees, temporary employees and consultants as are necessary to complete each
phase  of  our  planned  exploration program.  No assurance can be given that we
will  be  successful  in  our  efforts  in  either  of  these  areas.

VOLATILITY  OF  METALS PRICES - OUR PROFITABILITY AND VIABILITY WILL BE AFFECTED
BY  CHANGES  IN  THE  PRICES  OF  METALS.

     To  the extent we are able to identify ore reserves, our ability to develop
those  reserves  and  conduct  profitable  mining  operations  will  be  greatly
influenced  by  the prices of the platinum group metals.  These prices fluctuate
widely  and  are  affected  by  numerous  factors beyond our control, including:


<PAGE>
     -    expectations  for  inflation;

     -    the  strength  of  the  United  States  dollar;

     -    global  and  regional  supply  and  demand;  and

     -    political  and  economic  conditions  and  production  costs  in major
          platinum  group  metals  producing  regions of the world, particularly
          Russia  and  South  Africa.

     The aggregate effect of these factors on metals prices is impossible for us
to  predict.  In  addition,  the  prices  of platinum group metals sometimes are
subject  to  rapid  short-term  and/or  prolonged changes because of speculative
activities.  The  current  demand for and supply of platinum group metals affect
platinum  group  metal prices, but not necessarily in the same manner as current
supply and demand affect the prices of other commodities. The supply of platinum
group  metals primarily consists of new production from mining. If the prices of
platinum  group metals are, for a substantial period, below our foreseeable cost
of  production,  we  could  determine  that  it  is not economically feasible to
continue  the  development  of  our  projects.

WE  HAVE  NEVER  PAID  DIVIDENDS  ON  OUR  COMMON  STOCK.

     We  have  never  paid  any  dividends  on  our  Common Stock, and it is not
anticipated  that  dividends  will  be  declared  in  the  foreseeable  future.

POTENTIAL  FUTURE  SALES  PURSUANT TO RULE 144 COULD DEPRESS OUR STOCK PRICE AND
ADVERSELY  AFFECT  OUR  ABILITY  TO  RAISE  ADDITIONAL  EQUITY  FINANCING.

     Of our outstanding shares of common stock as of September 30, 2001, some of
these  shares "restricted securities," as that term is defined in Rule 144 under
the  Securities  Act.  In  general,  under Rule 144 a person who has satisfied a
one-year  holding  period  may  sell  limited  numbers of shares.  Rule 144 also
permits  the  sale of shares without any quantity limitation, by persons who are
not  our  affiliates  and  who  have beneficially owned the shares for a minimum
period  of  two  years.  The possible sale of these restricted shares may have a
depressive effect on the price of our securities and such sales, if substantial,
might  also  adversely  affect  our  ability to raise additional equity capital.


FUTURE ISSUANCES OF ADDITIONAL COMMON STOCK COULD DILUTE THE OWNERSHIP INTERESTS
OF  INVESTORS.

     In  connection  with our reincorporation in Delaware we amended our charter
to increase substantially the number of authorized shares of common stock and to
authorize  the  issuance  of preferred stock by action of the Board of Directors
without  stockholder  approval.  Our  Board  of Directors has the power to issue
such  shares,  subject,  in  some instances, to shareholder approval. Additional
issuances by us from our authorized but unissued shares would have the effect in
many cases of diluting the relative ownership interest of existing shareholders.

THE  PUBLIC  MARKET  FOR  OUR COMMON STOCK IS THINLY TRADED AND LACKS LIQUIDITY,
WHICH  MAY  MAKE  IT  MORE  DIFFICULT  FOR  INVESTORS  TO  SELL  THEIR  SHARES.

     At  present,  our common stock is traded under the symbol "TRDM" on the OTC
Bulletin  Board  operated  by  the  National  Association  of Securities Dealers
("NASD").  This  market is thinly traded and lacks the liquidity of other public
markets  with  which  some  investors  may  have  more  experience.  There is no


<PAGE>
assurance that a more liquid trading market will develop or, if developed, would
be  sustained.  A  purchaser  of  shares may, therefore, be unable to resell any
securities should he or she desire to do so.  Furthermore, it is unlikely that a
lending  institution would accept our securities as pledged collateral for loans
unless  a  regular  trading  market  develops.

THE  UNITED STATES PENNY STOCK RULES MAY MAKE IT MORE DIFFICULT FOR INVESTORS TO
SELL  THEIR  SHARES.

     Because  shares  of  our  common  stock  will  not  be quoted on a national
securities  exchange  in  the United States, the shares will be subject to rules
adopted  by the U.S. Securities and Exchange Commission regulating broker-dealer
practices  in  connection  with  transactions  in  "penny  stocks."  These rules
require  that  prior  to effecting any transaction in a penny stock, a broker or
dealer  must give the customer a risk disclosure document that describes various
risks  associated  with  an investment in penny stocks, as well as various costs
and  fees  associated with such an investment.  It is possible that some brokers
may be unwilling to engage in transactions of shares of our common stock because
of  these  added disclosure requirements, which would make it more difficult for
stockholders  to sell his shares. Further reference material involving the risks
of  investing  in  "penny  stocks"  may be obtained from the U.S. Securities and
Exchange  Commission online at their website. Other information may be available
from  State  Securities Regulators or Broker-Dealers with which investors may do
business.

                SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     This  Form  10KSB  contains  forward-looking  statements  that  involve
substantial risks and uncertainties.  Investors and prospective investors in our
common  stock  can  identify  these  statements by forward-looking words such as
"may,"  "will,"  "expect,"  "intend,"  "anticipate,"  "believe,"  "estimate,"
"continue"  and other similar words.  Statements that contain these words should
be read carefully because they discuss our future expectations, make projections
of our future results of operations or of our financial condition or state other
"forward-looking"  information.  We  believe that it is important to communicate
our  future  expectations to our investors.  However, there may be events in the
future  that  we  are  not  able  to accurately predict or control.  The factors
listed in the sections captioned "Risk Factors" and "Management's Discussion and
Analysis  or  Plan  of  Operation,"  as  well as any cautionary language in this
document  provide examples of risks, uncertainties and events that may cause our
actual  results  to  differ  materially from the expectations we describe in our
forward-looking  statements.  Investors  and prospective investors in our common
stock  should  be aware that the occurrence of the events described in the "Risk
Factors"  and  "Management's  Discussion  and  Analysis  or  Plan  of Operation"
sections  and  elsewhere in this Form 10KSB could have a material adverse effect
on  our  business,  operating  results  and  financial  condition.


<PAGE>
                                GLOSSARY OF TERMS

AMPHIBOLITE:  granular  metamorphic  rocks.

ANOMALY:  a  deviation  from  uniformity  or  regularity  in  geophysical  or
geochemical  quantities.

ARCHEAN:  geologic  age  older  than  2,500,000  years.

BLEBS:  a  vesicle,  blister  or  bubble.

BRECCIA:  rock  in  which  angular  fragments  are  surrounded  by  a  mass  of
fine-grained  minerals.

CHALCOPYRITE:  the  main  copper ore, which is widely occurring and found mainly
in  veins.

CIRCULATION  DRILL:  a  rotary  drill  or  rotary  percussion drill in which the
drilling  fluid  and  cuttings  return  to  the  surface through the drill pipe,
minimizing  contamination.

CRETACEOUS  AGE:  the  geologic  age period dating from approximately 68 million
years  to  142  million  years.

CROSS CUTS:  a horizontal opening driven from a shaft and (or near) right angles
to  the  strike  of  a  vein  or  other  ore  body.

DIAMOND  DRILL:  a type of rotary drill in which the cutting is done by abrasion
rather  than  by  percussion.  The  hollow  bit of the drill cuts a core of rock
which  is  recovered  in  long  cylindrical  sections.

DISSEMINATED:  fine  particles  of mineral dispensed through the enclosing rock.

DEVELOPMENT:  work  carried  out for the purpose of opening up a mineral deposit
and  making  the  actual  extraction  possible.

DIKES:  a  tabular  igneous  intrusion  that  cuts  across  the  structures  of
surrounding  rock.

DIP:  the  angle  at  which  a  vein, structure or rock bed is inclined from the
horizontal  as  measured  at  right  angles  to  the  strike.

DRIFTS:  a  horizontal  passage  underground  that follows along the length of a
vein  or  mineralized  rock  formation.

EXPLORATION:  work  involved  in  searching  for  ore  by  geological  mapping,
geochemistry,  geophysics,  drilling  and  other  methods.

GABBRO:  Dark  colored  basic intrusive rocks.  Intrusive equivalent of volcanic
basalt.

GEOCHEMISTRY:  study  of  variation  of  chemical  elements  in  rocks or soils.

GEOPHYSICS:  study  of  the  earth  by  quantitative  physical  methods.

GNEISS:  a  layered  or  banded crystalline metamorphic rock the grains of which
are  aligned  or  elongated  into  a  roughly  parallel  arrangement.


<PAGE>
HYDROTHERMAL:  pertaining to hot water, especially with respect to its action in
dissolving,  re-depositing,  and  otherwise producing mineral changes within the
earth's  crust.

INTRUSION/INTRUSIVE:  a  volume  of  igneous rock that was injected, while still
molten,  into  the  earth's  crust  or  other  rocks.

LITHOLOGY:  The  character of a rock described in terms of its structure, color,
mineral  composition,  grain  size  and  arrangement  of  its  component  parts.

MAFIC:  Pertaining  to or composed dominantly of the ferromagnesian rock-forming
silicates;  used  to describe some igneous rocks and their constituent minerals.

METAMORPHISM:  The  mineralogical and structural changes in solid rock that have
been  caused  by  heat  and  pressure  at  depth  over  time.

MINERALIZATION:  the  concentration  of metals and their compounds in rocks, and
the  processes  involved  therein.
NORITE:  a  course  grained  igneous  rock  formed  at  great  depth.

ORE:  material  that  can  be  economically  mined  and  processed.

ORE BODY:  a continuous, well-defined mass of material of sufficient ore content
to  make  extraction  economically  feasible.

OUTCROP:  the  part  of  a  rock  formation that appears at the earth's surface,
often  protruding  above  the  surrounding  ground.

PYRITE:  the  most  widespread  sulfide  mineral.

PYROXENITE:  any  group  of  minerals.

QUARTZITE:  a sedimentary rock consisting mostly of silica sand grains that have
been  welded  together  by  heat  and  compaction.

RECLAMATION:  the  restoration of a site after exploration activity or mining is
completed.

SCHIST:  a foliated metamorphic rock the grains of which have a roughly parallel
arrangement.

SEDIMENTARY  ROCKS/SEDIMENTS:  rocks  resulting  from the consolidation of loose
sediments  of  older  rock  transported  from  its  source  and  deposited.

SHEAR  OR SHEARING:  The deformation of rocks by lateral movement along numerous
parallel  planes,  generally  resulting  from  pressure  and  producing  such
metamorphic  structures  as  cleavage  and  schistosity.

SILLS:  a  near  horizontal  flat-bedded  strata  of  intrusive  rock.

SULFIDE:  a  metallic  mineral  containing  unoxidized  sulphur.

STRIKE:  the  course  or  bearing  of  a  vein  or  a  layer  of  rock.


<PAGE>
ULTRAMAFIC:  said  of  an  igneous  rock  composed  chiefly  of mafic materials.

UNPATENTED MINING CLAIM:  a parcel of property located on federal lands pursuant
to  the  U.S.  General  Mining  Law of 1872 and the requirements of the state in
which the unpatented claim is located, the paramount title of which remains with
the  federal government.  The holder of a valid, unpatented lode mining claim is
granted  certain  rights  including  the  right  to explore and mine such claim.

VEIN:  an  epigenetic mineral filling the fault or other fracture, in tabular or
sheetlike form, often with associated replacement of the host rock, or a mineral
deposit  of  this  form  or  origin.


                  ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS
                              OR PLAN OF OPERATION

     Our  loss  for  the  year  ended  September  30,  2001 was $3,436,941 which
increased  our  accumulated  deficit as of September 30, 2001 to $6,588,431.  We
have  inadequate cash to fund our planned acquisition and exploration activities
and  other operations during the next 12 months. These factors raise substantial
doubts  about  our  ability  to  continue  as  a  going  concern without raising
significant  additional  capital.  The Company has continued to fund itself on a
month-to-month  basis  though  loans  from shareholders, officers, directors and
other  private  parties  and also through small private placements of its common
stock.

     The  Company  has  substantial  operational commitments to fund in order to
maintain  its land holdings as now configured. This includes work commitments on
its  Lake Owen and Peter Lake properties, annual assessment work requirements on
the  remainder  of  its  unpatented mining claims, as well as federal and county
filing fees due on such unpatented claims. The inability of the Company to raise
substantial  capital  in  the  first  quarter of calendar year 2002 may severely
impact its ability to retain the properties described in this report. This is in
particular  applicable  to  the  Lake  Owen and Peter Lake properties which have
required  work  commitments  which  can  only be completed during the 2002 field
season  which  begins in May and ends in October. However, the Company must have
such  funds  in  place in order to plan and execute its work program in a timely
manner  and  to preserve its rights to its properties. Further, the Company must
raise substantial funds prior to mid-August, 2002 in order to pay claim fees due
and  owing  on its unpatented mining claims. Failure to make these payments will
result  in  the  loss  of its unpatented claims which make up all or most of the
properties  discussed  in  this  document.

     The  Company may also be adversely affected by claims of its creditors. The
Company at this time is technically insolvent in that its liabilities exceed its
assets  and  secondly,  in  that  it  has  been  unable  to make payments to its
creditors in a timely fashion as they come due. The Company is indebted to trade
creditors,  professional service providers, officers, directors and shareholders
who  have  provided  loans  to  the  Company, as well as to the Internal Revenue
Service for back FICA tax withholdings. Although the Company has been successful
to  date  in  persuading  its  creditors  to exercise patience and has also made
certain  arrangements  with the Internal Revenue Service vis- -vis collection of
past  due  tax  payments,  there  can  be  no  assurance  that such "standstill"
arrangements  will  continue  to  be  honored  in  the  future. At anytime it is
possible that some or all of such creditors may file lawsuits to collect amounts
owing,  attempt  to  place  holds on demand and time deposits of the Company, or
force  insolvency proceedings upon the Company. If any of these events occurred,
                                                --------------------------------
the  Company would probably be forced to cease or suspend operations which would
--------------------------------------------------------------------------------
likely  have  a  serious  and  highly  detrimental  effect upon the price of the
--------------------------------------------------------------------------------
publicly  traded  common  stock  of  the  Company.
--------------------------------------------------

     The  severe  shortage  of capital also hinders our ability to retain highly
skilled  and  qualified  personnel  who  are  a key to the future success of the
Company. This lack of funding may have a demoralizing effect upon our employees,


<PAGE>
officers,  and  directors  that  may  ultimately  lead to poorer productivity or
outright  resignation. In such event, the ability of the Company to successfully
implement  its  business  plan as discussed herein would be severely hampered if
not  altogether  thwarted.

     Since February 2000, the exercise by Electrum LLC of its options to acquire
our  common  stock,  loans  to  the  Company,  and  other private financing have
generated  funds  to  finance our activities.  We have also entered into certain
loan  arrangements, principally with the major shareholders of the Company which
we  have  utilized  to  fund  our  activities. As of September 30, 2001, we have
borrowed  approximately  $669,000  from several of our largest stockholders.  We
need  to  seek  additional  financing  from the public or private debt or equity
markets  to  continue  our  business activities.  There can be no assurance that
lenders,  principally  our major shareholders, will continue to advance funds to
us  or  that our efforts to obtain additional financing will be successful.  For
                                                                             ---
the  reasons  stated  above,  if  we  are unable to raise significant additional
--------------------------------------------------------------------------------
capital  in  the  first  half  of  2002,  it is likely that we will be forced to
--------------------------------------------------------------------------------
suspend  or  cease  operations.
-------------------------------

     If we are able to raise additional capital on acceptable terms, our primary
business  objective  in 2002 will be to focus on satisfying the work commitments
that  are  required  on  the  Lake  Owen  property  under  the  Lake Owen option
agreement.  We  plan  to spend from $500,000 to $750,000 during 2002 on property
maintenance  fees,  scientific  analyses  of existing geologic data, and general
exploration  activities  on  the Lake Owen property.  In addition, we anticipate
spending  from  $200,000  to  $300,000 on a selected basis on our other existing
properties  for  reconnaissance and detailed exploration work, which may include
geological mapping, geochemical sampling, and/or geophysical surveys. During the
quarter ended September 30, 2001, our exploration expenditures totaled $162,565,
and  $410,553  for  the  fiscal  year  ended  September  30,  2001.

     As  of  September  30, 2001, we had a net operating loss for federal income
tax  purposes  of  approximately  $5,300,000.  A significant portion of this net
operating  loss  may  expire  without  it being utilized, as we may be unable to
begin  profitable  operations,  which  would  involve  moving  from  being  an
exploration  stage  company  to  a  development  stage  company  and  finally an
operating  entity, before its expiration.  The net operating loss may be further
limited  under  Internal  Revenue  Service  rules  concerning  limitations  from
ownership  changes.  Our  management  believes there is no current basis for the
recognition  of  the  value  of  the  deferred  tax  assets derived from the net
operating  loss.  At  such  time  that  our  management believes that profitable
operations are imminent, the value of any net operating loss then available will
be  used  to  determine  the  net  deferred tax asset, if any, to be recognized.


                       ITEM 3.  DESCRIPTION OF PROPERTIES

     Our  interests  in  our  exploration  properties  are  described in Item 1.

     Our  executive  offices  are  located  at 401 Front Avenue, Suite 1, Second
Floor,  Coeur  d'Alene, Idaho 83814, and our telephone number is (208) 664-8095.
We lease our office space under a three- year lease for monthly rent payments of
$2,656.

     We maintained office facilities in Reno, Nevada until July, 2001.  Although
we  have  vacated  this office space and are attempting to sublet such space, we
are  obligated under a lease that requires monthly payments of $1,775 until July
2002.


                ITEM 4.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
                              OWNERS AND MANAGEMENT

     The  following  table  sets forth as of September 30, 2001 the common stock
ownership  of  the directors, executives officers and each person known by us to
be  the  beneficial  owner  of  five  percent  or more of our common stock.  The
percentage  of ownership is based on 18,755,970 shares of our common stock being
issued  and  outstanding  as  of  September  30,  2001.


<PAGE>
<TABLE>
<CAPTION>
                                                     NUMBER OF SHARES OF
                                                            COMMON STOCK   PERCENT OF
NAME AND ADDRESS OF BENEFICIAL OWNER(1)               BENEFICIALLY OWNED       SHARES
---------------------------------------------------  -------------------  -----------
<S>                                                  <C>                  <C>
DIRECTORS AND EXECUTIVE OFFICERS:
J. Michael Sharratt(2)                                            32,500           *

Jeffrey M. Christian(3)                                          125,000           *

Kurt J. Hoffman(4)                                               555,796         1.9%

Arthur E. Johnson(2)                                             176,767           *

Dave Mooney(FOOT1 7)                                             142,500           *

Ishiung J. Wu(2)                                                  30,000           *

Thomas K. Mancuso(6)                                             220,300           *

John P. Ryan (FOOT2 5)                                           131,667           *

All officers and directors as a group   (8 persons)            1,414,530        4.89%

5 PERCENT STOCKHOLDERS:
Thomas S. Kaplan(8)                                           13,806,407       47.71%
c/o William Natbony, Esq.
Rosenman & Colin LLP
575 Madison Avenue
New York, NY 10022-2585

Asher B. Edelman(9)                                            4,995,500       17.26%
c/o Edelman Companies
717 Fifth Avenue
New York, NY  10022

General Minerals Corporation(10)                               1,232,957        4.26%
789 Sherman Street, Suite 600A
Denver, Colorado 80203


<PAGE>
<FN>
__________________________
1  The  address  of  each  such  person,  unless otherwise noted, is c/o Trend Mining
Company,  401  Front  Avenue,  Suite  1,  Second  Floor, Coeur d' Alene, Idaho 83814.
2  These  shares  include  15,000  shares  issuable pursuant to an option exercisable
within  60  days.
3  Mr.  Christian directly owns warrants exercisable within 60 days to acquire 15,000
shares and has voting and dispositive control with respect to 180,000 shares owned by
CPM  Group  of  which  he  is  the  sole  stockholder.
4  These  shares  include  309,300  shares issuable pursuant to an option exercisable
within  60  days.
5  These  shares  include  shares  beneficially  owned  by  others  over which he has
dispositive  control  and  an  option  to acquire 41,667 shares exercisable within 60
days.
6  These  shares  include  145,300  shares issuable pursuant to an option exercisable
within  60  days.
7  These  shares  include  112,500  shares issuable pursuant to an option exercisable
within  60  days.
8  Mr.  Kaplan  has  voting  and dispositive control with respect to 1,000,000 shares
owned  by  Tigris  Financial  Group  Limited of which he is the sole stockholder.  He
also,  pursuant  to  a voting trust agreement expiring March 31, 2001, has voting and
dispositive  control with respect to 4,307,588 shares, warrants exercisable within 60
days  to  acquire  7,314,761  shares, and the right to acquire within 60 days 385,000
shares  and  warrants exercisable within 60 days to acquire 993,058 shares, all owned
by  Electrum  LLC.
9  Mr.  Edelman  directly  owns 900,000 shares and has voting and dispositive control
with  respect  to  an  additional 2,145,500 shares and warrants exercisable within 60
days  to  acquire  950,000  shares, and the right within 60 days to acquire 1,000,000
outstanding  shares.
10  These  shares  include  200,000 shares issuable pursuant to a warrant exercisable
within  60  days.

*  Amount  shown  as  less  than  1  percent.
</TABLE>


                ITEM 5.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS
                               AND CONTROL PERSONS

DIRECTORS  AND  EXECUTIVE  OFFICERS

     The  following  table  sets  forth information concerning our directors and
executive  officers.

<TABLE>
<CAPTION>
NAME                  AGE                    POSITION
--------------------  ---  -----------------------------------------------
<S>                   <C>  <C>

J. Michael Sharratt    71  Chairman and Director
Jeffrey M. Christian   45  Director
Kurt J. Hoffman        35  Chief Executive Officer, President and Director
Arthur E. Johnson      53  Director
Dave Mooney            41  Vice President of Exploration
Ishiung J. Wu          55  Director
Thomas Mancuso         41  Vice President, Chief Operating Officer
John P. Ryan           39  Vice President, Chief Financial Officer,
                           Secretary and Treasurer, Director
</TABLE>


     Our  Board of Directors has established a Compensation Committee consisting
of  J.  Michael  Sharratt, Arthur E. Johnson, and John Ryan.  The Board has also
established an Audit Committee consisting of Jeffrey M. Christian and Ishiung J.
Wu.

     Set  forth  below  is  certain  information  with  respect  to the Issuer's
directors  and  executive  officers.

OUTSIDE  DIRECTORS

     J.  Michael  Sharratt became a member of the Board and began serving as the
Company's  Chairman  in  August  2000.  Mr.  Sharratt  is  one  of  the  most
distinguished  platinum-group  explorationists  in  North  America,  with direct
hands-on  experience involving North America's most important PGM deposit. Prior
to joining the Company, Mr. Sharratt served as Vice Chairman, from 1994 to 1997,
and  President,  from  1992  to  1994,  of  Stillwater  Mining  Company. As Vice
President  and  Senior  Director  of Mining and Minerals for Manville Corp., the
co-developer  of the Stillwater platinum/palladium mine in Montana, Mr. Sharratt
was  a  principal  figure  in  the exploration and development of the Stillwater
mining complex, the largest platinum group metals operation in North America. In
addition  to  the evaluation and development of Stillwater, over his long career
at  Manville,  where  he  began  as  an  exploration  geologist,  Mr. Sharratt's
responsibilities  ultimately  included  all  of  Manville's  mineral exploration
projects  worldwide and oversight responsibility for the ore development at nine
operating mines in six countries.  Mr. Sharratt is a member of the International
Precious  Metals  Institute,  where  he  serves  as  a  Director, as well as the
Canadian Institute of Mining and Metallurgy and the Society of Mining Engineers.

     Jeffrey  M. Christian was elected to the Board of Directors in August 2000.
Mr.  Christian  is  Managing  Director  of  CPM  Group,  the leading independent
precious  metals  research  and  consulting  firm. Mr. Christian is a recognized
figure  in  the  precious  metals  industry and has been involved in much of the
pioneering  work  applying  economic  analysis  and econometric studies to gold,
silver,  and  the  platinum  group  metals  markets.  CPM Group's commentary and
reports,  including their annual surveys of these metals, are closely watched by
the  industry and investment community. CPM counts among its clients many of the
world's  largest  mining companies, industrial users of precious metals, central
banks,  government  agencies  and  financial  institutions  worldwide.  Prior to
founding  CPM  Group  in  1986,  Mr.  Christian  headed  the precious metals and
statistical  work in the Commodities Research Group at J. Aron and Goldman Sachs
from 1980 until 1986.  In 1984, he became director of the department; in 1985 he
served  as  its group Vice President.  Mr. Christian is President and a Director
of  the  International  Precious  Metals  Institute.

     Arthur  E.  Johnson  has  served  as a Director since June 1998.  Since May
1995,  Mr.  Johnson  has  been  engaged  in  family-owned  timber  and  ranching
businesses. His family's mining interests, apart from Trend Mining Company, also
include  base  and  precious  metals  properties  in  the western United States.

     Ishiung Wu became a Director in August 2000. Dr. Ishiung Wu, co-founder and
Vice  President,  Acquisitions  of General Minerals Corporation, has over thirty
years  experience  in  mineral  exploration  management.  As a former manager of
exploration  for  Chevron Resources Company in North and South America, he was a
member  of  a  platinum  working  group  which  evaluated  platinum group metals
exploration  models  at  the  Stillwater  complex,  of  which  Chevron  was  the
co-developer  with  Manville  Corp.  This  exploration  model  was  applied
successfully in the location of the Lake Owen property  (now controlled by Trend
Mining)  for  Chevron  and  the  subsequent discovery of multiple platinum group
metals  occurrences.  Prior  to his career at Chevron, Dr. Wu garnered extensive
field  experience, which was accompanied by several mineral discoveries, through
his work with Exxon Minerals, Kennecott Exploration, Cerro de Pasco and Compania
de  Minas  Buenaventura. Dr. Wu holds an M.A. and Ph.D. in economic geology from
Harvard  University  and  is  a  fellow  of  the Society of Economic Geologists.

INSIDE  DIRECTORS  AND  OFFICERS

     Kurt  Hoffman  has  served  as our Chief Executive Officer, President and a
Director  since  June  1998.  With  more  than 17 years experience in the mining
industry, Mr. Hoffman is primarily responsible for refocusing the Company on the
acquisition and exploration of PGE properties. From March 1995 to June 1998, Mr.


<PAGE>
Hoffman was the owner and President of Kurt J. Hoffman Mining & Land Services, a
private  mining  consulting  firm that provided property sales, acquisitions and
land management services for a number of U.S. based mining and timber companies.
He  has  worked  for  Sunshine  Mining Co., Mine Fabrication and Machine, Placer
Mining  Corp.  and,  in  his  capacity  as  a  consultant,  a  number  of  other
resource-related  companies.

     David  G.  Mooney  has  served as Chief Geologist since March 2000 and Vice
President  of Exploration since August, 2001.  Prior to joining the Company, Mr.
Mooney  worked  with  Micon  International Ltd., an international geological and
mining consulting company, and provided consulting services to Stillwater Mining
Company,  North  America's  largest  primary  PGM  producer.  Mr.  Mooney  was
responsible  for initiating and setting up an exploration and acquisitions group
within  Stillwater  Mining, and was charged with identifying and prioritzing the
most  attractive  PGM  exploration  targets  in North America. From July 1993 to
November  1998,  Mr.  Mooney  was  with Lonmin Plc., one of the largest platinum
producers  in  the  world.  Before  leaving the company, he held the position of
Chief  Geologist,  where  he  was responsible for its platinum group exploration
activities  in  the  Bushveld,  South  Africa  as  well  as the mineral resource
management  for  the  entire group.  Prior to assuming this post, Mr. Mooney was
Chief  Geologist  for  Lonmin's  Eastern  Platinum  Ltd.  Mine,  where  he  was
responsible  for  all  geological  and geophysical interpretations, exploration,
mineral  resource  estimations  and  grade  control.  Mr. Mooney was educated at
Trinity  College, Dublin and Rhodes University, South Africa from which he holds
a  Master  of  Science  in  Exploration  Geology.  Mr. Mooney is a member of the
Geological  Association of Canada, Society for Mining and Exploration as well as
the  Geological  Society  of  South  Africa.

     Toby  Mancuso  has served as our Vice President and Chief Operating Officer
since  November of 2000. Prior to joining Trend, Mr. Mancuso was involved in the
successful  start-up  of four mines in the United States as well the development
of  companies  which  apply  advanced  technologies  to mining operations.  From
1987-1997, Mr. Mancuso worked for the Kennecott Corp., which included serving as
the  Chief  Geologist  for  the  Kennecott  Exploration  Company (1993-1997). As
Kennecott's  Chief  Geologist,  Mr.  Mancuso  was  responsible for management of
multiple  precious  metal  projects,  property  acquisitions,  project planning,
permitting,  and supervision of mineral development programs. Mr. Mancuso served
as  Technical  Superintendent  at  Kennecott's  Flambeau  mine  in  Wisconsin
(1992-1993),  with responsibilities which included mine start-up and supervision
of  all  engineering,  operations  and  geology personnel, public relations, and
negotiations  with  federal  and  state  officials.  As  Chief  Geologist  at
Kennecott's  Rawhide  Mine  (1987-1992), Mr. Mancuso was responsible for project
planning,  mine  start-up,  and  management  of all mine geology and exploration
programs.  Mr. Mancuso also worked for Freeport McMoRan (1983-1987), as a Senior
Mine  Geologist,  responsible  for  geological  and  metallurgical  research
activities.  Mr.  Mancuso  served  as  a consultant to Trend Mining Company from
January  1999  through  December  2000.  From  1997-1999,  Mr.  Mancuso  and his
consulting  firm,  Mancuso  Resource  Development Services, were responsible for
mineral  project  generation,  marketing, development and management for various
mineral  companies,  Indian reservations, and private individuals throughout the
western  United  States,  Canada  and  Mexico.  He  also  served  as  liaison or
intermediary  between mining companies, government officials, Indian tribes, and
landowners regarding project development, environmental, and social issues.  Mr.
Mancuso  holds a B.S. in geology from Bowling Green State University and an M.S.
in  geology  from  the  Idaho  School  of  Mines  at  the  University  of Idaho.

     John  Ryan  serves  as the Company's Chief Financial Officer, Secretary and
Treasurer  as  well  as  being  on the Board of Directors. Mr. Ryan was an early
investor  in Trend Mining and has held several posts within the Company over the
past  several  years.  Mr. Ryan has a broad frame of reference in the management
and  financing  of  development  stage  natural  resource  companies,  including
Metalline  Mining  Company  and Royal Silver Mines. He presently holds positions
with  Cadence  Resources, an energy exploration and development company, as well


<PAGE>
as  several other venture-stage technology and resource companies. Mr. Ryan is a
former  U.S.  Naval  Officer  and obtained a B.S. in Mining Engineering from the
University  of  Idaho  and  a  Juris  Doctor  from  Boston  College  Law School.



                         ITEM 6.  EXECUTIVE COMPENSATION

     The  following  table  sets forth the compensation paid by Trend Mining for
the  last  two  completed  fiscal  years  for  the President and Chief Executive
Officer.  No  other  officer  or  director  received  more  than  $100,000  in
compensation  from  Trend  Mining.

                           SUMMARY COMPENSATION TABLE

                               ANNUAL COMPENSATION
                               -------------------

              NAME AND PRINCIPAL POSITION       YEAR  SALARY
         -------------------------------------  ----  -------

         Kurt J. Hoffman                        2001  $88,000
         President and Chief Executive
         Officer

         Kurt J. Hoffman                        2000  $78,804
         President and Chief Executive Officer


     In  2001, Mr. Hoffman received $88,000 of his salary in cash.  In 2000, Mr.
Hoffman  received  $70,458  of  his  salary  in cash and $8,346 in shares of our
common  stock,  comprised  of  26,924  shares  at  $0.31  per  share.

     No  other  officers received compensation in cash or stock in the years 200
or  2001  in  excess  of  that  of  Mr.  Hoffman.

COMPENSATION  OF  DIRECTORS

     For  fiscal  year  1999,  we granted to each of our directors 1,500 shares,
valued  at  $0.25  per share, as compensation.  On April 11, 2000, we granted to
each  departing  director  options  to purchase 1,000 shares of common stock for
each  completed  year  of service.  These options are exercisable from April 15,
2000  to  April  15, 2003.  The following table sets forth information regarding
these  option  grants:


                        YEARS OF  OPTIONS  EXERCISE
           NAME         SERVICE   GRANTED    PRICE
     -----------------  --------  -------  ---------

     Lovon Fausett            17   17,000  $    0.50
     Don Springer             17   17,000  $    0.50
     Geraldine Schimpf        17   17,000  $    0.50
     Robert Gee                8    8,000  $    0.50
     Bill Jacobson             5    5,000  $    0.50
     Grant Brackebusch         3    3,000  $    0.50


<PAGE>
     For  fiscal  year  2000,  we  granted to each of our then current directors
15,000 shares of our common stock, 150,000 shares in the aggregate, at $0.70 per
share  as compensation.  In August 2000, we awarded J. Michael Sharratt upon his
appointment  to  the Board 1,500 shares, valued at $1,050 or $0.70 per share, as
compensation  for  board  service  in  2000. For fiscal year 2001, the Board has
considered  various  compensation proposals but none were adopted before the end
of  the  fiscal  year, and none have been adopted as of the date of this report.


             ITEM 7.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

GENERAL  MINERALS  CORPORATION

     Effective  July  27,  1999,  we entered into the Lake Owen option agreement
with  General  Minerals  Corporation,  which  owns  beneficially approximately 9
percent  of  our  common stock.  The primary terms and conditions of that option
agreement  are  described  in  Item  1  of Part I under the heading "Exploration
Properties - Lake Owen, Wyoming."  The Lake Owen option agreement was amended in
June  2000.  Pursuant  to  that  amendment,  General  Minerals agreed to give up
certain  anti-dilution  protections and the right to participate in future stock
offerings.  In  return, we issued to General Minerals in June 2000 an additional
200,000  shares of our common stock valued at $120,000, and warrants to purchase
an  additional  200,000 shares of our common stock at any time during a two-year
period  ending in June 2002 at $0.70 per share.  In addition, in connection with
the  amendment of the Lake Owen option agreement, General Minerals exercised its
rights  under  the  original  option agreement to purchase 416,961 shares of our
common  stock  for  an  aggregate  purchase  price  of  $23,351.

TIGRIS  FINANCIAL  GROUP  LTD.  AND  ELECTRUM  LLC

     On  December  29,  1999,  we  entered  into a stock purchase agreement with
Tigris  Financial  Group  Ltd., under which Tigris purchased 1,000,000 shares of
our  common  stock  for  $100,000,  and was granted rights to acquire additional
common  stock  and  warrants.  Tigris  is  solely owned by Thomas S. Kaplan, who
beneficially  owns  approximately  50  percent  of our common stock.  Tigris has
assigned  certain  of  its rights under the stock purchase agreement to Electrum
LLC.  Mr.  Kaplan  has,  pursuant to a voting trust agreement expiring March 31,
2001,  voting and dispositive control of all of our securities owned by Electrum
LLC.  Because  our securities are a significant asset of Electrum, controlled by
Mr.  Kaplan,  Electrum  is  an  affiliate  of  Tigris.

     The  stock  purchase  agreement  was amended in June 2000. Pursuant to that
amendment,  Electrum  agreed  to  give  up  certain anti-dilution protections in
exchange  for  the  right  to  acquire additional shares of our common stock and
certain  preemptive  rights. The preemptive rights were terminated in July 2000.

     Pursuant  to  the  stock  purchase  agreement,  Electrum acquired 3,500,000
shares  of our common stock for an aggregate purchase price of $490,000 in March
2000, 1,597,588 shares for an aggregate purchase price of $100,000 in June 2000,
and  an  additional 4,740,174 shares for an aggregate purchase price of $545,020
in  August and September 2000. Also pursuant to the stock purchase agreement and
in  exchange  for a cash payment of $10,000, we issued in June 2000 a warrant to
Electrum  to  purchase an additional 7,979,761 shares of our common stock for an
aggregate  purchase price of $3,191,900, exercisable in whole or in part through
September  30,  2003.  Electrum assigned 3,530,174 shares of our common stock in
connection  with  its  acquisition  of  those  shares  and  500,000  warrants.
Subsequently,  Electrum  has assigned an additional 2,000,000 shares and 500,000
warrants.  Tigris  and  Electrum own approximately 29% of our outstanding common
stock  and, upon exercise of their warrants and assuming we have issued no other
shares,  would  own  approximately  50%  of  our  then outstanding common stock.


<PAGE>
     In  addition,  under the stock purchase agreement, Tigris and Electrum have
the  right  to  proportional  representation  on  our board of directors, and we
agreed  to  retain the CPM Group as financial advisors. Tigris and Electrum have
not  exercised their rights to representation on our board of directors. We also
agreed  that at the request of Tigris, we would use reasonable efforts to divest
ourselves  of our silver exploration properties. Tigris and Electrum have demand
registration  rights.  In November 2000, Electrum requested that we register all
of the common stock, warrants and common stock underlying the warrants currently
held  by  Tigris  and  Electrum  and  assigned  by  Electrum  to  others.

     In November 2000, we entered into an agreement with Electrum under which we
have  borrowed $135,000 to fund certain expenses. The loan bears interest at the
annual  rate  of  5%  and  is  due upon the earlier to occur of the closing of a
public  or  private  debt  or  equity financing or December 1, 2005. In December
2000,  we  entered  into  an  agreement  with  Electrum  under which we borrowed
$200,000  of  the  $250,000  available  to  fund  our  operating costs, with our
specific  uses of funds approved in advance by Electrum. No additional funds are
available  under  this  agreement.  The loan obtained under this agreement bears
interest  at  an  annual rate of 8% payable semi-annually in arrears, and is due
upon  the  earlier to occur of the closing of a public or private debt or equity
financing  or  June  30,  2001.

     In  connection  with these loan agreements, in February 2001, we granted to
Electrum  warrants  to  purchase 285,000 shares of our common stock at $1.50 per
share,  exercisable  through  September 30, 2003.  Electrum may also elect to be
repaid  the  total  amounts  outstanding  under  both  loans in "units" of Trend
securities,  at  the  rate  of  one  unit  per each $1.25 owed.  Each unit would
consist  of one share of our common stock and a warrant to purchase one share of
our  common  stock  at  $1.50 per share, exercisable through September 30, 2003.
Electrum  has  agreed  that  at least $100,000 of the November 2000 loan will be
repaid  in  units.

     On March 12, we entered into an agreement with Electrum under which we have
the  right to borrow up to an additional $50,000 to fund our operation costs, on
the  same  interest  and  repayment  terms  as the loans under the December loan
agreement.  Under this agreement, in March 2001, we granted to Electrum warrants
to  purchase  50,000  shares of our common stock at $1.50 per share, exercisable
through  September 30, 2006. We also agreed to extend through September 30, 2006
the  expiration  dates  of the warrants to acquire 7,979,761 shares issued under
the  stock  purchase agreement and the warrants to acquire 285,000 shares issued
under  the  December  loan  agreement.

     On  April  11,  2001,  the  Company entered into an agreement with Electrum
under  which  the  Company  may  borrow additional funds from Electrum under the
terms  of  December  2000 loan agreement to fund its operating costs if Electrum
elects, in its sole discretion, to lend such funds. During the period from April
10,  2001  through  September 30, 2001, the Company borrowed $135,000 under this
agreement.  The  funds  borrowed  under  this agreement bear interest at 8%, and
repayment  is  due  upon the Company's completion of a private or public debt or
equity financing. At Electrum's option, the Company may repay part or all of the
principal  and  interest outstanding under the loan in units as described above.

     On  July  1,  2001, the Company issued 185,000 warrants to Electrum, strike
price  $1.50,  exercisable  through  September  30,  2006. These were issued per
Electrum's  request,  and the board of director's approval, that Electrum should
possess one warrant for every dollar of debt outstanding. This brought the total
warrants  issued related to notes payable to Electrum to 520,000 as of September
30,  2001.

     Following  our  reincorporation  in  Delaware, we issued to Mr. Kaplan in a
private placement one share of Series A preferred stock. The terms of the Series
A  preferred  stock  provide that each issuance by us of common stock, preferred
stock,  options,  warrants  or  other equity securities will require the written
consent  of  Mr.  Kaplan  or  the  then current holder of the Series A preferred
stock.  Under  certain  circumstances,  Electrum  LLC,  which  beneficially owns
approximately 23 percent of our outstanding common stock, and Asher Edelman, who
beneficially  owns  approximately  16  percent  of our outstanding common stock,
would  be permitted to acquire the Series A preferred stock to be held initially
by  Mr.  Kaplan.

     In  exchange  for  our agreement to issue the Series A preferred stock, Mr.
Kaplan and Mr. Edelman agreed not to oppose the proposed significant increase in
our  authorized  capital  from  30 million shares of common stock to 100 million
shares  of  common  stock  and  20  million  shares  of  preferred  stock.


<PAGE>
CPM  GROUP

     CPM  Group  is managed and wholly owned by Jeffrey M. Christian, a director
of  our  company.  CPM  Group performs various services for us, including public
and  shareholder  relations,  research and market intelligence on platinum group
metal  markets  and  financial  advisory  functions  in connection with possible
mergers  and  acquisitions.  CPM Group has not performed services for and is not
affiliated  with  Tigris  or  Electrum.


                       ITEM 8.  DESCRIPTION OF SECURITIES

COMMON  STOCK

     The  Company  has authorized capital of 100 million shares of Common Stock,
$.01  par  value,  of  which  18,755,970  shares  are  issued and outstanding at
September  30,  2001.  All  outstanding  shares have equal voting rights and are
validly  issued,  fully paid and non-assessable.  Shareholders have the right to
cumulate  their  votes  in  the  election  of  directors.  Upon  liquidation,
dissolution,  or winding up, our assets, after the payment of liabilities, would
be distributed pro rata to the holders of our Common Stock.  Except as described
below under "Preferred Stock", our shareholders do not have preemptive rights to
subscribe for any of our securities and have no right to require us to redeem or
purchase  their  shares.

PREFERRED  STOCK

     Trend  also  has 20,000,000 shares of authorized preferred stock with a par
value  of  $0.01  per share, with rights and preferences to be determined by the
Company's  Board  of  Directors.

     One share of Series A preferred stock has been created and issued to Thomas
S.  Kaplan  and requires the holder's approval of all stock and equity issuances
until  such  time  as  none  of  Mr.  Kaplan,  Electrum  LLC or Asher B. Edelman
beneficially  owns  more than twenty percent of the Company's outstanding stock.
Holders  of  the  Company's common stock will vote on the continued existence of
the Series A preferred stock at each subsequent annual meeting.  If the Series A
preferred  stock  is  not continued, the outstanding share of Series A preferred
stock  will  convert  to  one  share  of  common  stock.

OPTIONS

     As  of September 30, 2001 the Company had outstanding options to purchase a
total  of  974,800  shares  of  Common  Stock exercisable at an average price of
$.86.

WARRANTS

     The Issuer has outstanding Warrants to purchase a total of 9,219,761 shares
of  Common  Stock as follows: 7,979,761 shares at an exercise price of $0.40 per
share until September 30, 2006; 200,000 at an exercise price of $0.70 until June
2002; 335,000 shares at an exercise price of $1.50 per share until September 30,
2006;  250,000  shares  at  an  exercise  price of $1.50 until November 8, 2005;
185,000 shares at an exercise price of $1.50 per share until September 30, 2006,
and  90,000  shares  at an exercise price of $1.50 per share until June 9, 2004.
All  warrants  are  subject to certain adjustments with respect to stock splits,
recapitalizations,  stock  dividends,  combinations,  consolidations and similar
changes  in  the  capitalization  of  the  Issuer.


<PAGE>
CONVERTIBLE  DEBT

     As  of  September  30,  2001,  the  Company  owes $669,000 to shareholders,
officers  and  directors for loans. Of these loans, $610,000 are convertible, at
the  discretion  of  the  loanees, at a rate of one common stock share for every
$1.25  of  debt.  Also,  one warrant will be issued for each converted share and
will  have  a  $1.50  exercise  price.  If the $610,000 in loans were completely
converted  to  common  stock,  the  company would issue 488,000 shares of common
stock.  If  the loanees chose to exercise some or all of the warrants associated
with  these  loans, the Company would receive a maximum of $732,000 in cash from
such  an  exercise.

REGISTRATION  RIGHTS

     Stockholders  holding  8,297,762 shares of our Common Stock and warrants to
acquire  an  additional  8,499,761  shares  have  unlimited  demand registration
rights.

DIVIDENDS

     Our shareholders are entitled to share equally in dividends when, as and if
declared  by  the  board of directors, out of funds legally available therefore.
No  dividend  has  been  paid  on  our common stock since inception, and none is
contemplated  in  the  foreseeable  future.

TRANSFER  AGENT

     The  transfer  agent for our common stock is Corporate Stock Transfer, 3200
Cherry  Creek  Drive  South,  Suite  430,  Denver,  Colorado  80209.


                                     PART II

                   ITEM 1.  MARKET PRICE FOR COMMON EQUITY AND
                            OTHER SHAREHOLDER MATTERS

     Our  shares  are  traded on the OTC Bulletin Board operated by the National
Association  of Securities Dealers, Inc. (NASD) under the trading symbol "TRDM."
Summary  trading  by  quarter for fiscal 2001, 2000 and 1999 fiscal years are as
follows:


<PAGE>
     FISCAL QUARTER       HIGH BID [1]   LOW BID [1]
     -------------------  -------------  ------------

     2001
          Fourth Quarter  $        0.75  $       0.51
          Third Quarter   $        0.98  $       0.60
          Second Quarter  $        1.15  $       0.63
          First Quarter   $        1.38  $       0.75

     2000
          Fourth Quarter  $        1.60  $       0.60
          Third Quarter   $        1.06  $       0.50
          Second Quarter  $        1.06  $       0.28
          First Quarter   $        0.44  $       0.26

     1999
          Fourth Quarter  $        0.44  $       0.08
          Third Quarter   $        1.06  $       0.41
          Second Quarter  $        0.45  $       0.19
          First Quarter   $        0.50  $       0.19

     [1]  These  quotations reflect inter-dealer prices, without retail mark-up,
          mark-down  or  commissions  and may not represent actual transactions.


     As of September 30, 2001, we had approximately 960 holders of record of our
common  stock.

     We  have  not  paid any dividends since our inception and do not anticipate
paying  any  dividends on our common stock in the foreseeable future.  There are
no  restrictions  which  preclude  the  payment  of  dividends.


                           ITEM 2.  LEGAL PROCEEDINGS

     We  are  not  a  party  to  any pending litigation and to our knowledge, no
action,  suit  or  proceeding has been threatened against any of our officers or
directors.  Subsequent  to  the  end  of  the fiscal year, one creditor, Merrill
Communications of Denver, Colorado, through a third party collection agency, has
threatened  to take legal actions to recover a past due account of approximately
$49,000.  However, to our knowledge, no lawsuit has been filed as of the date of
this  report.


             ITEM 3.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
                     ON ACCOUNTING AND FINANCIAL DISCLOSURE

     Our  previous  accountant,  LeMaster  and Daniels, PLLC resigned, effective
September 1999.  LeMaster and Daniels did not prepare financial statements or an
audit  opinion  for  the  fiscal  year  ended September 30, 1998.  There were no
disagreements with LeMaster and Daniels on accounting and financial disclosures.

     Williams  &  Webster,  P.S.,  our  current  accountants,  were appointed in
February  2000.  There  have  been  no disagreements on accounting and financial
disclosures  through  the  date  of  this  registration  statement.


<PAGE>
                ITEM 4.  RECENT SALES OF UNREGISTERED SECURITIES

RECENT  ISSUANCES  OF  COMMON  STOCK

     During  the year ended September 30, 2001, the Company issued 69,161 shares
of  common  stock  valued  at $60,802 for services, 5,200 shares of common stock
valued  at  $5,880  as  compensation, 33,333 shares of common stock from options
exercised by an employee for cash of $10,000, 75,000 shares valued at $63,750 to
directors as compensation, 3,000 shares valued at $2,340 to modify an agreement,
10,000  shares valued  at $8,000 in lieu of interest on an unpaid invoice, 1,000
shares  valued  at  $850  for mineral property expenses, 92,000 shares of common
stock  sold  for  $192,000 cash as a private placement, 134,500 shares of common
stock  valued  at  $134,500 for loans payable.

     The  issuances  discussed  above were exempted from registration under Rule
701  of  the  Securities Act ("Rule 701"), Rule 504 of the Securities Act ("Rule
504"),  Rule  506  of  the  Securities  Act ("Rule 506") or Section 4(2) of  the
Securities  Act ("Section 4(2)"), as provided. Certain shares issued in non-cash
transactions  were  valued  to  reflect  their  fair market value on the date of
issuance.

               ITEM 5.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

     The  laws of the States of Delaware and Montana under certain circumstances
provide  for  indemnification  of a corporation's directors, officers, employees
and  agents  against  liabilities  that  they  may  incur  in  such  capacities.

     In  general, any director, officer, employee or agent of a corporation made
a  party  to  a  proceeding  because  he or she serves in that capacity with the
corporation may be indemnified against expenses, fines, settlements or judgments
arising in connection with the proceeding, if that person's actions were in good
faith,  were  reasonably  believed to be in the corporation's best interest, and
were  reasonably  believed not to be unlawful.  Unless such person is successful
upon  the  merits in such an action, indemnification may be awarded only after a
determination  by  either  a  majority  vote  of  a  quorum of the corporation's
directors  not  at  the  time party to the proceeding, or a specially designated
committee  if  no  quorum  can be obtained, or by special legal counsel, or by a
vote of the shareholders, excluding those shares owned by or voted under control
of  directors  who are at the time party to the proceedings, that the applicable
standard  of  conduct  was  met  by  the  person  to  be  indemnified.

     Our  articles  of  incorporation  as originally filed in Montana and former
bylaws  contained  no  indemnification  provisions.  Upon its reincorporation in
Delaware,  the  new articles of incorporation adopted by the Company now contain
indemnification  provisions  that  are  applicable  under certain circumstances.


<PAGE>
                                    PART F/S
                              FINANCIAL STATEMENTS

                                                              Page
                                                              ----
          Index  to  Financial  Statements. . . . . . . . .    F-1



<PAGE>
                                    PART III

          ITEMS 1 AND 2.  INDEX TO EXHIBITS AND DESCRIPTION OF EXHIBITS
Exhibit
Number                              Exhibits
------                              --------

3.1       Articles  of  Incorporation  dated  September  7, 1968; Certificate of
          Amendment  of  Articles  of  Incorporation  dated  September 23, 1970;
          Articles  of  Amendment of the Articles of Incorporation dated January
          25, 1980; Articles of Amendment to the Articles of Incorporation dated
          July  23,  1984;  Articles  of  Amendment  1984  to  the  Articles  of
          Incorporation  dated  October  31,  1984; Articles of Amendment to the
          Articles  of  Incorporation  filed  August  13,  1998; and Articles of
          Amendment  to  the  Articles  of  Incorporation  dated March 3, 1999.*

3.2       Bylaws  adopted  effective  October  1,  1968.*

10.1      Stock Purchase Agreement dated as of December 29, 1999, between Tigris
          Financial  Group  Ltd.  and  Trend  Mining Company; Amendment to Stock
          Purchase  Agreement dated as of June 27, 2000 between Electrum LLC and
          Trend Mining Company; and Warrant Agreement dated June 9, 2000 between
          Trend  Mining  Company  and  Tigris  Financial  Group  Ltd.*

10.2      Lake  Owen  Option  Agreement between General Minerals Corporation and
          Trend  Mining  Company;  Amendment to Lake Owen Option Agreement dated
          June,  2000  between  General  Minerals  Corporation  and Trend Mining
          Company;  and  Warrant  Agreement  dated  June  12, 2000 between Trend
          Mining  Company  and  General  Minerals  Corporation.*

10.3      Letter Agreement between John Ryan and Trend Mining Company dated July
          12,  2000.*

23.3      Consent  of  CPM  Group,  dated  September  25,  2000.*

__________________
*  Previously  filed.

<PAGE>
                                   SIGNATURES

     In  accordance  with Section 12 of the Securities Exchange Act of 1934, the
registrant  caused  this Amendment No. 4 to Registration Statement on Form 10-SB
to  be  signed  on  its  behalf  by  the undersigned, thereunto duly authorized.


                                      TREND  MINING  COMPANY



Dated:  December  29,  2001           By:  /s/  Kurt  J.  Hoffman
                                           -------------------------------------
                                      Kurt  J.  Hoffman
                                      President  and  Chief  Executive  Officer




Dated:  December  29,  2001           By:  /s/  John  P. Ryan
                                           -------------------------------------
                                      John  P.  Ryan
                                      Chief  Financial  Officer


<PAGE>
================================================================================













                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                              FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001



















                            WILLIAMS & WEBSTER, P.S.
                          CERTIFIED PUBLIC ACCOUNTANTS
                        BANK OF AMERICA FINANCIAL CENTER
                          601 W RIVERSIDE - SUITE 1940
                           SPOKANE, WASHINGTON  99201
                                 (509) 838-5111



================================================================================


<PAGE>
<TABLE>
<CAPTION>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)






<S>                                                   <C>
INDEPENDENT AUDITOR'S REPORT                           F-1


FINANCIAL STATEMENTS

     Balance Sheets                                    F-2

     Statements of Operations and Comprehensive Loss   F-3

     Statement of Stockholders' Equity (Deficit)       F-4

     Statements of Cash Flows                          F-6


NOTES TO THE FINANCIAL STATEMENTS                      F-7
</TABLE>


<PAGE>

Board  of  Directors
Trend  Mining  Company
Coeur  d'Alene,  Idaho


                          INDEPENDENT AUDITOR'S REPORT
                          ----------------------------

We  have  audited  the  accompanying  balance  sheets  of  Trend  Mining Company
(formerly  Silver  Trend  Mining  Company)  (an exploration stage company) as of
September  30,  2001  and  2000,  and  the  related statements of operations and
comprehensive loss, stockholders' equity (deficit), and cash flows for the years
then  ended  and  for  the period from October 1, 1996 (inception of exploration
stage) to September 30, 2001.  These financial statements are the responsibility
of  the  Company's  management.  Our  responsibility is to express an opinion on
these  financial  statements  based  on  our  audit.

We  conducted our audit in accordance with auditing standards generally accepted
in  the  United  States  of  America.  Those  standards require that we plan and
perform  the  audit  to  obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made  by  management,  as well as evaluating the overall
financial  statement  presentation.  We  believe  that  our  audit  provides  a
reasonable  basis  for  our  opinion.

In  our  opinion,  the financial statements referred to above present fairly, in
all  material  respects,  the  financial  position of Trend Mining Company as of
September  30,  2001  and  2000,  and the results of its operations and its cash
flows  for  the  years  then  ended,  and  for  the  period from October 1, 1996
(inception  of  exploration  stage)  to  September  30, 2001, in conformity with
accounting  principles  generally  accepted  in  the  United  States of America.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.  As  discussed  in Note 2 to the
financial  statements,  the  Company's  significant  operating  losses  raise
substantial  doubt  about  its  ability  to  continue  as  a  going  concern.
Management's  plans regarding the resolution of this issue are also discussed in
Note  2.  The  financial  statements  do  not include any adjustments that might
result  from  the  outcome  of  this  uncertainty.

As  discussed  in  Note  12  to  the  financial  statements,  notes payable were
overstated  and  common  stock  and warrants were understated on earlier audited
financial  statements.  These financial statements have been restated to correct
for  these  errors.


Williams  &  Webster,  P.S.
Certified  Public  Accountants
Spokane,  Washington

December  19, 2001, except for Note 12, as to which the date is February 1, 2002



                                      F-1
<PAGE>
<TABLE>
<CAPTION>
                                     TREND MINING COMPANY
                                (AN EXPLORATION STAGE COMPANY)
                                        BALANCE SHEETS


                                                              September 30,
                                                                  2001         September 30,
                                                               (restated)          2000
-----------------------------------------------------------  ---------------  ---------------
<S>                                                          <C>              <C>
ASSETS

CURRENT ASSETS
  Cash                                                       $       24,954   $      102,155
  Prepaid expenses                                                        -            1,725
  Equipment held for resale                                           4,000            4,000
                                                             ---------------  ---------------
    Total Current Assets                                             28,954          107,880
                                                             ---------------  ---------------

MINERAL PROPERTIES                                                        -                -
                                                             ---------------  ---------------

PROPERTY AND EQUIPMENT, net of depreciation                          22,362           40,177
                                                             ---------------  ---------------

OTHER ASSETS
  Investments                                                             -          107,250
                                                             ---------------  ---------------


TOTAL ASSETS                                                 $       51,316   $      255,307
                                                             ===============  ===============

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
  Accounts payable                                           $    1,125,646   $      323,228
  Accounts payable to directors and officers                          8,122           11,100
  Accrued expenses                                                    5,312           17,490
  Accrued interest payable                                           29,143            1,958
  Notes payable to stockholders                                     669,000                -
  Current portion of long-term debt                                   3,564            2,992
                                                             ---------------  ---------------
    Total Current Liabilities                                     1,840,787          356,768
                                                             ---------------  ---------------

LONG-TERM DEBT, net of current portion                                7,072           10,389
                                                             ---------------  ---------------

COMMITMENTS AND CONTINGENCIES                                             -                -
                                                             ---------------  ---------------

STOCKHOLDERS' EQUITY (DEFICIT)
  Preferred stock,  $0.01 par value, 20,000,000
    shares authorized; 1 and no shares
    issued and outstanding, respectively                                  -                -
  Common stock,  $0.01 par value, 100,000,000
    shares authorized; 18,755,970 and
    18,232,776 shares issued and outstanding, respectively          187,559          182,327
  Additional paid-in capital                                      3,772,857        3,296,897
  Stock options and warrants                                      1,389,976          118,920
  Pre-exploration stage accumulated deficit                        (558,504)        (558,504)
  Accumulated deficit during exploration stage                   (6,588,431)      (3,151,077)
  Accumulated other comprehensive income (loss)                           -             (413)
                                                             ---------------  ---------------
    TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                         (1,796,543)        (111,850)
                                                             ---------------  ---------------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY (DEFICIT)                             $       51,316   $      255,307
                                                             ===============  ===============
</TABLE>

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


                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                                             TREND MINING COMPANY
                                        (AN EXPLORATION STAGE COMPANY)
                                        ------------------------------
                               STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

                                                                                              Period from
                                                                                             October 1, 1996
                                                                                              (Inception of
                                                                                            Exploration Stage)
                                                            Year Ended                              to
                                                           September 30,       Year Ended      September 30,
                                                               2001           September 30,        2001
                                                            (restated)            2000          (restated)
                                                        -------------------  ---------------  ---------------
<S>                                                     <C>                  <C>              <C>
REVENUES                                                $                -   $            -   $            -
                                                        -------------------  ---------------  ---------------

EXPENSES
  Exploration expense                                              410,553        1,069,215        1,890,367
  General and administrative                                       792,024          456,611        1,425,423
  Officers and directors compensation                              738,047          262,249        1,134,105
  Legal and professional                                           631,901          362,090        1,016,581
  Depreciation                                                      17,815           10,823           28,926
                                                        -------------------  ---------------  ---------------
    Total Expenses                                               2,590,340        2,160,988        5,495,402
                                                        -------------------  ---------------  ---------------

OPERATING LOSS                                                  (2,590,340)      (2,160,988)      (5,495,402)
                                                        -------------------  ---------------  ---------------

OTHER INCOME (EXPENSE)
  Dividend and interest income                                          59            1,249            6,398
  Gain (loss) on disposition and impairment of assets                    -            5,000         (188,226)
  Gain (loss) on investment sales                                  (55,081)           5,420          (53,772)
  Financing expense                                               (749,605)         (36,185)        (819,969)
  Interest expense                                                 (45,068)          (1,137)         (46,719)
  Miscellaneous income                                               2,681              100            9,259
                                                        -------------------  ---------------  ---------------
    Total Other Income (Expense)                                  (847,014)         (25,553)      (1,093,029)
                                                        -------------------  ---------------  ---------------

LOSS BEFORE INCOME TAXES                                        (3,437,354)      (2,186,541)      (6,588,431)

INCOME TAXES                                                             -                -                -
                                                        -------------------  ---------------  ---------------
NET LOSS                                                        (3,437,354)      (2,186,541)      (6,588,431)
                                                        -------------------  ---------------  ---------------

OTHER COMPREHENSIVE INCOME (LOSS)
  Change in market value of investments                                413          (38,314)               -
                                                        -------------------  ---------------  ---------------

NET COMPREHENSIVE LOSS                                         $(3,436,941)    $ (2,224,855)     $(6,588,431)
                                                        ===================  ===============  ===============


BASIC AND DILUTED NET LOSS PER SHARE                    $            (0.19)   $       (0.21)           (0.64)
                                                        ===================  ===============  ===============

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING                                     18,485,774       10,282,013       10,333,819
                                                        ===================  ===============  ===============
</TABLE>

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


                                      F-3
<PAGE>
<TABLE>
<CAPTION>
                                                       TREND MINING COMPANY
                                                  (AN EXPLORATION STAGE COMPANY)
                                            STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

                                                    Common Stock                                               Other
                                                --------------------   Additional     Stock                    Compre-
                                                  Number                Paid-in    Options and  Accumulated    hensive
                                                of Shares    Amount     Capital      Warrants     Deficit      Income      Total
                                                ----------  --------  -----------  -----------  ------------  ---------  ----------
<S>                                             <C>         <C>       <C>          <C>          <C>           <C>        <C>
Balance, October 1, 1996                        $1,754,242  $ 17,542  $   663,218  $        0     ($558,504)  $      0   $ 122,256

Common stock issuances as follows:
  - for cash at $0.50 per share                    200,000     2,000       98,000           -             -          -     100,000
  - for payment of liabilities and
    expenses at $0.50
    per share                                       45,511       455       22,301           -             -          -      22,756

Net loss for the year ended September 30, 1997           -         -            -           -      (128,614)         -    (128,614)
                                                ----------  --------  -----------  -----------  ------------  ---------  ----------

Balance, September 30, 1997                      1,999,753    19,997      783,519           -      (687,118)         -     116,398

Issuance of common stock as follows:
  - for mineral property at $0.50 per share        150,000     1,500       73,500           -             -          -      75,000
  - for lease termination at $0.50 per share        12,000       120        5,880           -             -          -       6,000
  - for debt at $0.50 per share                     80,000       800       39,200           -             -          -      40,000
  - for cash at $0.20 per share                      7,500        75        1,425           -             -          -       1,500
  - for compensation at $0.50 per share              9,000        90        4,410           -             -          -       4,500

Issuance of stock options for financing
     activities                                          -         -            -       2,659             -          -       2,659

Net loss for the year ended September 30, 1998           -         -            -           -      (119,163)         -    (119,163)

Change in market value of investments                    -         -            -           -             -    117,080     117,080
                                                ----------  --------  -----------  -----------  ------------  ---------  ----------

Balance, September 30, 1998                      2,258,253    22,582      907,934       2,659      (806,281)   117,080     243,974

Common stock issuances as follows:
  - for cash at an average of $0.07 per share      555,000     5,550       35,450           -             -          -      41,000
  - for prepaid expenses at $0.33 per share         50,000       500       16,000           -             -          -      16,500
  - for consulting services at an average of
    $0.20 per share                                839,122     8,391      158,761           -             -          -     167,152
  - for mineral property at $0.13 per share        715,996     7,160       82,470           -             -          -      89,630
  - for officers' compensation at an average
     of $0.24 per share                            300,430     3,004       70,522           -             -          -      73,526
  - for debt,  investment and expenses               9,210        92        2,671           -             -          -       2,763
    at $0.30 per share
  - for directors' compensation at an average
     of $0.25 per share                             16,500       165        3,960           -             -          -       4,125
  - for rent at $0.25 per share                      1,000        10          240           -             -          -         250
  - for equipment at $0.30 per share               600,000     6,000      174,000           -             -          -     180,000

Net loss for the year ended
     September 30, 1999                                  -         -            -           -      (716,759)         -    (716,759)
Other comprehensive loss                                 -         -            -           -             -    (79,179)    (79,179)
                                                ----------  --------  -----------  -----------  ------------  ---------  ----------

Balance, September 30, 1999                     $5,345,511  $ 53,454  $ 1,452,007  $    2,659   ($1,523,040)  $ 37,901   $  22,982
                                                ----------  --------  -----------  -----------  ------------  ---------  ----------
</TABLE>

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


                                      F-4
<PAGE>
<TABLE>
<CAPTION>
                                                       TREND MINING COMPANY
                                                  (AN EXPLORATION STAGE COMPANY)
                                      STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)

                                                            Common Stock                                                 Other
                                                       ----------------------  Additional   Stock                        Compre-
                                                         Number                Paid-in      Options and   Accumulated    hensive
                                                        of Shares     Amount   Capital      Warrants      Deficit        Income
                                                       ------------  --------  -----------  ------------  -------------  ---------
<S>                                                    <C>           <C>       <C>          <C>           <C>            <C>
Balance, September 30, 1999                            $ 5,345,511   $ 53,454  $ 1,452,008  $     2,659    ($1,523,040)  $ 37,901

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    $0.61 per share                                        231,361      2,314      140,446       15,820              -          -
  - for officers' and directors' compensation
    at an average of $1.19 per share                        11,500        115       13,615            -              -          -
  - for services at an average of $0.47
    per share                                              530,177      5,302      246,333            -              -          -
  - for mineral property at $0.89 per share              1,000,000      1,000       88,000            -              -          -
  - for investments at $0.33 per share                     200,000      2,000       64,000            -              -          -
  - for cash at $0.08 per share                            456,247      4,562       28,969       33,531
  - for cash, options and warrants                         100,000     10,000        2,414       87,586        100,000
  - for incentive fees at $0.33 per share                   65,285        653       20,891            -              -          -
  - for deferred mineral property acquisition
    costs at $0.13 per share                               129,938      1,299       14,943            -              -          -
  - for modification of stockholder agreement
    at $0.60 per share                                     200,000      2,000      118,000       30,000              -          -
  - for modification of stockholder agreement                    -          -        4,262       10,379              -          -
  -from exercise of options at $0.12 per share           9,962,762     99,628    1,103,016      (37,524)             -          -

Cash received for the issuance of common stock
    warrants for 7,979,761 shares of stock                       -          -            -       10,000              -          -

Miscellaneous common stock adjustments                          (5)         -            -            -              -          -

Net loss for the year ended  September 30, 2000                  -          -            -            -     (2,186,541)         -

Other comprehensive income (loss)                                -          -            -            -              -    (38,314)

                                                       ------------  --------  -----------  ------------  -------------  ---------
Balance, September 30, 2000                             18,232,776    182,327    3,296,897      118,920     (3,709,581)      (413)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                            192,000      1,920      190,080            -              -          -
  - for cash and consulting services from
    options for $0.39 per share                             33,333        333       12,737       (3,070)             -          -
  - for services at an average of $0.92 per share           13,700        137       12,463            -              -          -
  - for officer and employee compensation at
    $1.13 per share                                          5,200         52        5,828            -              -          -
  - for payment of accrued officer's compensation
    at $1.35 per share                                      10,000        100       13,400            -              -          -
  - for consulting services at an average
     of $0.77 per share                                     45,461        455       34,247            -              -          -
  - for directors' compensation at $0.85 per share          75,000        750       63,000            -              -          -
  - for modification of contract at $0.78 per share          3,000         30        2,310            -              -          -
  - for interest payment on contract
    at an average of $0.80 per share                        10,000        100        7,900            -              -          -
  - for mineral property expenses at $0.85 per share         1,000         10          840            -              -          -
  - for debt at $1.00 per share                            134,500      1,345      133,155            -              -          -

Options issued to officers, directors and
    employees for services                                       -          -            -      354,000              -          -
Warrants issued as follows:
  - warrants issued for consulting services                      -          -            -      170,521              -          -
  - warrants issued for loan agreements                          -          -            -      141,547              -          -
  - warrants issued for extension of exercise
    period on outstanding warrants                               -          -            -      608,058              -          -

Net loss for the year ended September 30, 2001                   -          -            -            -     (3,437,354)         -

Other comprehensive income                                       -          -            -            -              -        413
                                                       ------------  --------  -----------  ------------  -------------  ---------

Balance, September 30, 2001 (restated)                 $18,755,970   $187,559  $ 3,772,857  $ 1,389,976    ($7,146,935)  $      0
                                                       ============  ========  ===========  ============  =============  =========



                                                           Total
                                                       -------------
<S>                                                    <C>
Balance, September 30, 1999                            $     22,982

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    $0.61 per share                                         158,580
  - for officers' and directors' compensation
    at an average of $1.19 per share                         13,730
  - for services at an average of $0.47
    per share                                               251,635
  - for mineral property at $0.89 per share                  89,000
  - for investments at $0.33 per share                       66,000
  - for cash at $0.08 per share
  - for cash, options and warrants
  - for incentive fees at $0.33 per share                    21,544
  - for deferred mineral property acquisition
    costs at $0.13 per share                                 16,242
  - for modification of stockholder agreement
    at $0.60 per share                                      150,000
  - for modification of stockholder agreement                14,641
  -from exercise of options at $0.12 per share            1,165,120

Cash received for the issuance of common stock
    warrants for 7,979,761 shares of stock                   10,000

Miscellaneous common stock adjustments                            -

Net loss for the year ended  September 30, 2000          (2,186,541)

Other comprehensive income (loss)                           (38,314)

Balance, September 30, 2000                                (111,850)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                             192,000
  - for cash and consulting services from
    options for $0.39 per share                              10,000
  - for services at an average of $0.92 per share            12,600
  - for officer and employee compensation at
    $1.13 per share                                           5,880
  - for payment of accrued officer's compensation
    at $1.35 per share                                       13,500
  - for consulting services at an average
     of $0.77 per share                                      34,702
  - for directors' compensation at $0.85 per share           63,750
  - for modification of contract at $0.78 per share           2,340
  - for interest payment on contract
    at an average of $0.80 per share                          8,000
  - for mineral property expenses at $0.85 per share            850
  - for debt at $1.00 per share                             134,500

Options issued to officers, directors and
    employees for services                                  354,000
Warrants issued as follows:
  - warrants issued for consulting services                 170,521
  - warrants issued for loan agreements                     141,547
  - warrants issued for extension of exercise
    period on outstanding warrants                          608,058

Net loss for the year ended September 30, 2001           (3,437,354)

Other comprehensive income                                      413
                                                       -------------

Balance, September 30, 2001 (restated)                  ($1,796,543)
                                                       =============
</TABLE>

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


                                      F-5
<PAGE>
<TABLE>
<CAPTION>
                                                  TREND MINING COMPANY
                                             (AN EXPLORATION STAGE COMPANY)
                                                STATEMENTS OF CASH FLOWS
                                                                                                         Period from
                                                                                                       Ocotber 1, 1996
                                                                                                        (Inception of
                                                                                                     Exploration Stage)
                                                                     Year Ended                              to
                                                                    September 30,     Year Ended        September 30,
                                                                        2001         September 30,          2001
                                                                     (restated)          2000             (restated)

                                                                   ---------------  ---------------  -------------------
<S>                                                                <C>              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                            ($3,437,354)     ($2,186,541)         ($6,588,431)
  Adjustments to reconcile net loss to net cash used by
      operating activities:
      Depreciation                                                         17,815           10,823               28,926
      Loss (gain) on investment sales                                      55,081           (5,420)              58,928
      (Gain) loss on disposition and impairment of assets                       -           (5,000)             188,226
      Common stock issued for services
      and expenses                                                         58,392          251,635              542,606
      Common stock and options issued as compensation                     437,130          172,310              691,591
      Stock options and warrants issued for financing activities          749,605           14,641              766,905
      Common stock and warrants issued to acquire mineral
      property options                                                          -          255,242              344,873
      Warrants issued for consulting fees                                 170,521                -              170,521
      Common stock issued for incentive fees                                    -           21,544               21,544
      Investment traded for services                                       22,539                -               22,539
  Changes in assets and liabilities:
    Inventory                                                                   -                -                3,805
    Prepaid expenses                                                        1,725             (725)                   -
    Accounts payable                                                      799,440          320,064            1,123,505
    Accrued expenses                                                       15,007          (53,051)              34,454
                                                                   ---------------  ---------------  -------------------
  Net cash used in operating activities                                (1,110,099)      (1,204,478)          (2,590,008)
                                                                   ---------------  ---------------  -------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
    Payment of deposit                                                          -           (1,000)              (1,000)
    Return of deposit                                                           -            1,000                1,000
    Proceeds from sale of equipment                                             -                -               33,926
    Proceeds from sale of mineral property                                      -                -               20,000
    Purchase of furniture and equipment                                         -          (35,910)             (37,195)
    Proceeds from investments sold                                         30,143           27,606              101,430
                                                                   ---------------  ---------------  -------------------
  Net cash provided (used) by investing activities                         30,143           (8,304)             118,161
                                                                   ---------------  ---------------  -------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
    Payments on notes payable and short term borrowings                    (2,745)          (2,712)              (5,457)
    Sale of warrants for common stock                                           -           10,000               10,000
    Proceeds from short-term borrowings                                   888,500                -              930,500
    Sale of common stock, subscriptions
    and exercise of options                                               117,000        1,298,651            1,558,151
                                                                   ---------------  ---------------  -------------------
  Net cash provided by financing activities                             1,002,755        1,305,939            2,493,194
                                                                   ---------------  ---------------  -------------------

NET INCREASE (DECREASE) IN CASH                                           (77,201)          93,157               21,347

CASH, BEGINNING OF YEAR                                                   102,155            8,998                3,607
                                                                   ---------------  ---------------  -------------------

CASH, END OF YEAR                                                  $       24,954   $      102,155   $           24,954
                                                                   ===============  ===============  ===================

SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                                    $          559   $        1,137   $            2,210
  Income taxes paid                                                $            0   $            0   $                0

NON-CASH FINANCING ACTIVITIES:
  Common stock and warrants issued to acquire
  mineral properties                                               $            0   $      255,242   $          344,873
  Common stock issued to acquire mineral property                  $            0   $            0   $           75,000
  Common stock issued for acquisition of
  mining equipment                                                 $            0   $            0   $          180,000
  Common stock issued for services and expenses                    $       59,542   $      251,635   $          543,756
  Common stock issued for investment                               $            0   $       66,000   $           67,000
  Common stock issued for debt                                     $      134,500   $            0   $          175,342
  Deferred acquisition costs on mining property                    $            0   $            0   $           46,242
  Stock options  and warrants issued for financing activities      $      749,605   $       14,641   $          766,905
  Warrants issued for consulting fees                              $      170,521   $            0   $          170,521
  Common stock issued for incentive fees                           $            0   $       21,544   $           21,544
  Common stock and options issued as compensation                  $      437,130   $      172,310   $          691,591
  Purchase of equipment with financing agreement                   $            0   $       14,093   $           14,093
  Investments received for mineral property                        $            0   $        5,000   $            5,000
  Investments traded for services                                  $       22,539   $            0   $           22,539
</TABLE>

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


                                      F-6
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  1  -  ORGANIZATION  AND  DESCRIPTION  OF  BUSINESS

Trend  Mining Company (formerly Silver Trend Mining Company) ("the Company") was
originally  incorporated  on  September  7,  1968 under the laws of the State of
Montana  for  the  purpose  of  acquiring,  exploring  and  developing  mining
properties.  From 1984 to late 1996, the Company was dormant.  In November 1998,
the  Company changed its focus to exploration for platinum and palladium related
metals.  In February 1999, the Company changed its name from Silver Trend Mining
Company  to Trend Mining Company to better reflect the Company's change of focus
to  platinum  group  metals.  The Company conducts operations primarily from its
offices  in Coeur d'Alene, Idaho.  The Company has elected a September 30 fiscal
year-end.

In  March  28,  2001, the Company reincorporated in Delaware.  Under its amended
certificate  of  incorporation, Trend has authorized the issuance of 100,000,000
shares of common stock with a par value of $0.01 per share and 20,000,000 shares
of  authorized  preferred  stock  with  a  par  value  of $0.01, with rights and
preferences  to be determined by the Company's board of directors.  One share of
Series A preferred stock has been created and issued to Mr. Thomas S. Kaplan and
requires  the holder's approval for all stock and equity issuances.  See Note 4.

The  Company  is  actively seeking additional capital.  Management believes that
additional  stock  can  be  sold  to  enable the Company to continue to fund its
property  acquisition and platinum group metals exploration activities, however,
management  is  unable  to  provide  assurances  that  it  will be successful in
obtaining  sufficient  sources  of  capital.


NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

This  summary  of  significant  accounting  policies  is  presented to assist in
understanding  the Company's financial statements.  The financial statements and
notes  rely on the integrity and objectivity of the Company's management.  These
accounting  policies  conform to accounting principles generally accepted in the
United  States  of America and have been consistently applied in the preparation
of  the  financial  statements.

Accounting  Method
------------------
The  Company's  financial  statements  are  prepared using the accrual method of
accounting.

Basic  and  Diluted  Loss  per  Share
-------------------------------------
Basic  and  diluted  loss per share are computed by dividing the net loss by the
weighted  average  number  of shares outstanding during the year or period.  The
weighted  average  number of shares is calculated by taking the number of shares
outstanding and weighting them by the length of time that they were outstanding.

Outstanding options and warrants representing 10,194,561 and 8,307,594 shares as
of  September  30,  2001  and  2000,  respectively,  have been excluded from the
calculation  of  diluted  loss  per  share  as  they  would  be  antidilutive.

Cash  and  Cash  Equivalents
----------------------------
For  purposes  of  the  Statement  of  Cash  Flows,  the  Company  considers all
short-term  debt securities purchased with a maturity of three months or less to
be  cash  equivalents.


                                      F-7
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Compensated  Absences
---------------------
The  Company's  employees  are  entitled  to  paid  vacation, paid sick days and
personal  days  off depending on job classification, length of service and other
factors.  The  Company  estimates  that  the  amount  of compensation for future
absences  is  minimal  and immaterial for the years ended September 30, 2001 and
2000.  Accordingly,  no liability has been recorded in the financial statements.
The  Company's  policy  is  to  recognize  the cost of compensated absences when
compensation  is  actually  paid  to  employees.

Comprehensive  Income  (Loss)
-----------------------------
The  Company reports comprehensive income (loss) in accordance with Statement of
Financial  Accounting  Standards  ("SFAS")  No.  130,  "Reporting  Comprehensive
Income."  Accordingly,  accumulated  other  comprehensive  income  or  loss  is
included in the stockholders' equity section of the balance sheets.  Amounts are
reported net of tax and include unrealized gains or losses on available for sale
securities.

Derivative  Instruments
-----------------------
The  Financial  Accounting  Standards Board issued SFAS No. 133, "Accounting for
Derivative  Instruments  and  Hedging  Activities" in June 1998 and SFAS No. 138
"Accounting  for  Derivative Instruments and Certain Hedging Activities" in June
2000.  This  standard  establishes  accounting  and  reporting  standards  for
derivative  instruments,  including  certain  derivative instruments embedded in
other  contracts,  and  for  hedging  activities.  It  requires  that  an entity
recognize  all  derivatives as either assets or liabilities on the balance sheet
and  measure  those  instruments  at  fair  value,  at  the  appropriate  date.

At  September  30,  2001,  the  Company had not engaged in any transactions that
would  be  considered  derivative  instruments  or  hedging  activities.

Estimates
---------
The preparation of financial statements in conformity with accounting principles
generally  accepted  in the United States of America requires management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and  disclosure of contingent assets and liabilities at the date of
the  financial  statements  and  the  reported  amounts of revenues and expenses
during  the reporting period.  Actual results could differ from those estimates.

Employee  and  Non-Employee  Stock  Compensation
------------------------------------------------
The Company values common stock issued to employees and other than employees for
services, property and investments at the fair market value of the common stock,
which  is  the  closing  price  of  Company stock on the day of issuance.  If no
trading  occurred  on  that day, then the fair market value used is the lower of
the  closing  prices  on  the  first previous day and the first following day on
which  the  Company's  stock  was  traded.

Exploration  Costs
------------------
In accordance with accounting principles generally accepted in the United States
of  America,  the  Company  expenses exploration costs as incurred.  Exploration
costs  expensed during the years ended September 30, 2001 and 2000 were $410,553
and  $1,069,215,  respectively.  As of September 30, 2001, the exploration costs
expensed  during  the  Company's  exploration  stage  were  $1,890,367.


                                      F-8
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001



NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Exploration  Stage  Activities
------------------------------
The  Company  has  been in the exploration stage since October 1, 1996, when the
Company  emerged from a period of dormancy, and has no revenues from operations.
The  Company  is primarily engaged in the acquisition and exploration of mineral
properties.  Should  the  Company  locate  a  commercially  viable  reserve, the
Company would expect to actively prepare the site for extraction.  The Company's
accumulated  deficit  prior  to  the  exploration  stage  was  $558,504.

Fair  Value  of  Financial  Instruments
---------------------------------------
The  carrying  amounts  for  cash,  accounts  payable, notes payable and accrued
liabilities  approximate  their  fair  value.

Going  Concern
--------------
As  shown in the accompanying financial statements, the Company has no revenues,
has  incurred a net loss of $3,436,941 for the year ended September 30, 2001 and
has  an  accumulated  deficit during the exploration stage of $6,588,431.  These
factors  indicate that the Company may be unable to continue in existence in the
absence  of  receiving  additional  funding.

The  financial  statements  do  not  include  any  adjustments  related  to  the
recoverability  and  classification  of  recorded  assets,  or  the  amounts and
classification  of  liabilities that might be necessary in the event the Company
cannot  continue  in  existence.

The  Company's  management  believes that it will be able to generate sufficient
cash from public or private debt or equity financing for the Company to continue
to  operate  based  on  current  expense  projections.

Impaired  Asset  Policy
-----------------------
The  Company adopted Financial Accounting Standards Board statement SFAS No. 121
titled "Accounting for Impairment of Long-Lived Assets," which has been replaced
by  SFAS  No. 144, "Accounting for Impairment or Disposal of Long-Lived Assets."
In  complying  with  these  standards, the Company reviews its long-lived assets
quarterly to determine if any events or changes in circumstances have transpired
which  indicate  that  the  carrying value of its assets may not be recoverable.
The  Company  determines  impairment  by  comparing the undiscounted future cash
flows  estimated  to  be  generated  by  its assets to their respective carrying
amounts  whenever  events or changes in circumstances indicate that an asset may
not  be  recoverable.  Properties  are  acquired  and  recorded  at  fair values
negotiated in arm's length transactions.  Although the Company expenses as costs
the  exploration  and  maintenance  of  its properties and claims, if results of
exploration  warrant an assessment of the carrying value of a mineral property's
acquisition  cost,  or  if  the Company has an indication that the recorded fair
value  has  declined,  such  costs  will  be reviewed and any impairment will be
recognized  at  that  time.

Investment  Policies
--------------------
The  Company  uses  the  average  cost  method  to determine the gain or loss on
investment securities held as available-for-sale based upon the accumulated cost
bases  of  specific  investment  accounts.


                                      F-9
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001



NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Mineral  Properties
-------------------
The  Company capitalizes only amounts paid in cash or stock as consideration for
the  acquisition  of  real  property.  See  Note 3.  Properties are acquired and
recorded at fair values negotiated in arm's length transactions.  Costs and fees
paid to locate and maintain mining claims, to acquire options to purchase claims
or  properties,  and  to maintain the mineral rights and leases, are expensed as
incurred.  When a property reaches the production stage, the related capitalized
costs  will  be  amortized, using the units of production method on the basis of
periodic  estimates  of  ore  reserves.

Mineral  properties  are  periodically  assessed for impairment of value and any
diminution  in value is charged to operations at the time of impairment.  Should
a  property  be  abandoned,  its  unamortized  capitalized  costs are charged to
operations.  The  Company  charges  to  operations  the  allocable  portion  of
capitalized  costs  attributable  to  properties  sold.  Capitalized  costs  are
allocated  to  properties  abandoned  or  sold based on the proportion of claims
abandoned  or  sold  to  the  claims  remaining  within  the  project  area.

Option  and  Warrant  Fair  Value  Calculations
-----------------------------------------------
The  Company  utilizes  the  Black-Scholes valuation model to calculate the fair
value  of  options  and warrants issued for financing, acquisition, compensation
and  payment  for  services  purposes.  The  parameters  used in such valuations
include  a  risk  free  rate of 5.5%, the assumption that no dividends are paid,
exercise  periods  ranging from 1 week to 5.5 years, depending upon the terms of
the  instrument  issued,  and  a  volatility factor calculated annually based on
estimates  of  expected  volatility,  as  per  SFAS  123.  The  Company used its
historic  volatility  data  to develop the 1998 estimate of 30%, consistent with
its limited public trading in 1998.  The volatility estimates for 1999, 2000 and
2001  reflect  an average of Company data and volatility factors reported by two
other  mining  companies at comparable stages in their respective public trading
histories,  resulting in expected volatilities of 55.12% in 1999, 48.05% in 2000
and  46.4%  in  2001.

Reclassifications
-----------------
Certain  amounts  from  prior  periods  have been reclassified to conform to the
current  period  presentation.  This reclassification has resulted in no changes
to  the  Company's  total  accumulated  deficit  or  net  losses  presented.

Reverse  Stock  Split
---------------------
The  Company's  board  of directors authorized a 1 for 10 reverse stock split of
its  no par value common stock.  See Note 4.  All references in the accompanying
financial  statements  to  the number of common shares outstanding and per share
amounts  have  been  restated  to  reflect  the  reverse  stock  split.

Segment  Reporting
------------------
The  Company  adopted SFAS No. 131, "Disclosures about Segments of an Enterprise
and Related Information," in the fiscal year ended September 30, 1999.  SFAS No.
131 requires disclosures about products and services, geographic areas and major
customers.  The adoption of SFAS No. 131 did not affect the Company's results of
operations  or  financial  position.  The  Company's  mining properties were not
engaged  in  any  business  activity.  The  Company  had  no segments engaged in
business  activities  at September 30, 2001 and, therefore, no segment reporting
is  required.


                                      F-10
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001



NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Accounting  Pronouncements
--------------------------
In  June  1997,  the  Financial  Accounting  Standards Board issued Statement of
Financial  Accounting Standards No. 130, "Reporting Comprehensive Income" ("SFAS
No. 130"), and No. 131, "Disclosures about Segments of an Enterprise and Related
Information"  ("SFAS No. 131"). SFAS 130 establishes standards for reporting and
displaying  comprehensive  income, its components and accumulated balances. SFAS
131  establishes  standards  for the way that companies report information about
operating  segments  in  annual  financial  statements and requires reporting of
selected  information  about operating segments in interim financial statements.
Both  SFAS  130  and SFAS 131 are effective for periods beginning after December
15, 1997. The Company adopted these accounting standards, and their adoption had
no  effect  on  the  Company's  financial  statements  and  disclosures.

In  September  2000,  the FASB issued SFAS No. 140 "Accounting for Transfers and
Servicing  of  Financial  Assets  and  Extinguishment  of  Liabilities."  This
statement  provides  accounting  and  reporting  standards  for  transfers  and
servicing  of  financial  assets  and  extinguishment  of  liabilities  and also
provides  consistent  standards for distinguishing transfers of financial assets
that  are  sales  from  transfers  that are secured borrowings.  SFAS No. 140 is
effective for recognition and reclassification of collateral and for disclosures
relating  to  securitization transactions and collateral for fiscal years ending
after  December  15,  2000,  and  is  effective  for  transfers and servicing of
financial  assets  and  extinguishments of liabilities occurring after March 31,
2001.  The  Company  believes that the adoption of this standard will not have a
material  effect  on  the Company's results of operations or financial position.

In June 2001, the FASB issued SFAS No. 141, "Business Combinations" and SFAS No.
142,  "Goodwill  and  Other  Intangible  Assets".  SFAS No. 141 provides for the
elimination  of  the  pooling-of-interests  method  of  accounting  for business
combinations  with  an  acquisition  date of July 1, 2001 or later. SFAS No. 142
prohibits  the  amortization  of  goodwill  and  other  intangible  assets  with
indefinite  lives  and requires periodic reassessment of the underlying value of
such assets for impairment. SFAS No. 142 is effective for fiscal years beginning
after  December  15, 2001. An early adoption provision exists for companies with
fiscal  years  beginning after March 15, 2001. On September 1, 2001, the Company
adopted  SFAS  No. 142. Application of the nonamortization provision of SFAS No.
142  will  have  no  effect on the Company's financial statements as the Company
does  not  currently  have  amortizable  assets.

Provision  for  Taxes
---------------------
Income taxes are provided based upon the liability method of accounting pursuant
to  SFAS  No.  109 "Accounting for Income Taxes."  Under this approach, deferred
income  taxes  are  recorded  to reflect the tax consequences on future years of
differences  between the tax basis of assets and liabilities and their financial
reporting  amounts  at each year end.  A valuation allowance is recorded against
deferred tax assets if management does not believe the Company has met the "more
likely  than  not" standard imposed by SFAS No. 109 to allow recognition of such
an  asset.

At  September 30, 2001, the Company had net deferred tax assets of approximately
$1,800,000, principally arising from net operating loss carryforwards for income
tax  purposes.  As  management  of  the Company cannot determine that it is more
likely  than  not  that the Company will realize the benefit of the net deferred
tax  asset,  a  valuation allowance equal to the net deferred tax asset has been
established  at  September  30,  2001.


                                      F-11
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001



NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Provision  for  Taxes  (continued)
----------------------------------
At  September  30,  2001,  the  Company  has net operating loss carryforwards of
approximately  $5,300,000, which expire in the years 2001 through 2020.  The net
operating loss carryforwards do not include expenses that are not deductible for
tax  purposes,  such  as  compensation  expense,  in  the  amount  of $1,340,000
attributable  to  options and warrants issued to employees and consultants.  The
Company  also  owes to the Internal Revenue Service employment taxes of $103,327
as  of  September  30,  2001.


NOTE  3  -  MINERAL  PROPERTIES

The  following  describes  the  Company's  significant  mineral  properties:

Wyoming  Properties
-------------------
During  the  year  ended  September 30, 1999, the Company entered into an option
agreement  with  General  Minerals  Corporation ("GMC") to acquire the Lake Owen
Project  located in Albany County, Wyoming.  The agreement with GMC entitled the
Company  to  receive 104 unpatented mining claims in exchange for 715,996 shares
of  common  stock,  $40,000  in  cash  to  be paid in four quarterly payments of
$10,000  and $750,000 in exploration expenditure commitments to be incurred over
a  three-year  option  period.  In  May  2000,  the Company issued an additional
129,938  shares  of common stock under this agreement for the acquisition of the
Lake  Owen  Project.

The  Company  and  GMC  subsequently  entered into an amendment to the agreement
under  which  (i)  the Company issued 416,961 shares of common stock to GMC upon
GMC's  exercise  of  preemptive  rights,  (ii)  the Company agreed to perform an
additional  $15,000  of  geophysical  work  on  the  Lake  Owen Project prior to
December  31,  2000  (subsequently  modified),  (iii) the Company issued 200,000
additional  shares  and warrants exercisable until June 2002 to purchase 200,000
shares at $0.70 per share, and (iv) GMC agreed to terminate its antidilution and
preemptive  rights  as  provided  in  the  original  agreement.  The Company has
expensed $295,873 for cash paid and common stock issued to acquire this Project.

The  Company has located an additional 497 unpatented mining claims in an agreed
area  of  interest  near  the  Lake  Owen  Project.

The  Company  also  staked  and  claimed  six claims known as the Albany Project
during  the  year  ended September 30, 1999.  These claims are located in Albany
County,  Wyoming.

The  Company  also  staked  and claimed 42 unpatented mining claims known as the
Spruce  Mountain claims and 159 unpatented mining claims known as the Centennial
West  claims.  These  claims  are  also  located  in  Albany  County,  Wyoming.

As  of  September  30,  2001,  the Company has located and staked 155 unpatented
mining claims in Albany County, Wyoming, including 34 and 121 claims, which were
staked  at  the  Douglas  Creek  and  Keystone  properties,  respectively.


                                      F-12
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Montana  Properties
-------------------
In  March 2000, the Company entered into a three year lease and option agreement
under  which it had the right to acquire a 100% interest in the Intrepid claims.
Upon  entering  into  the agreement, the Company paid the claim owners $5,800 in
cash  and  100,000 shares of common stock.  In the Company's acquisition of this
option,  it  expensed  $97,140  for  cash  paid  and  common  stock  issued.

Under the agreement, the Company was obligated to incur exploration expenditures
of  not  less  than  $10,000 by September 30, 2001, $15,000 by March 4, 2002 and
$15,000  by  March  4, 2003.  In addition, the Company must make advance royalty
payments  of $10,000 by March 4, 2001, $25,000 by March 4, 2002 and $35,000 each
year  thereafter.  In  March  2001,  the Company and the claim holders agreed to
replace  the March $10,000 advance royalty payment with a $9,000 payment due May
11,  2001.  In connection with this agreement, the Company issued to the holders
3,000  shares  of  common  stock  on  March  11, 2001 with an aggregate value of
$2,340.

Following this agreement the Company was unable to make the May 11th payment. On
May  24,  the  claim holders agreed to a modification to continue to extend this
payment  initially to June 5th, but this payment was also not made as scheduled.
The Company issued an additional 1,000 shares with value of $850 and paid $1,000
in  cash per the terms of the modification, which reduced the outstanding $9,000
payment  to  $8,000.  By  September  30,  2001, the Company abandoned all of its
interests  in  the  Intrepid  claims.

Other properties in Montana include the Vanguard Project and the McCormick Creek
Project, which is in Missoula County.  In 2000, the Company staked 121 claims in
regards  to  the  Vanguard  Project  and  explored  and staked 36 claims for the
McCormick  Creek  Project.  By September 30, 2001, the Company had abandoned all
of  its  interests  in  the  Vanguard  Project.

During  the  year  ended  September 30, 2000, the Company located and staked 211
claims  in Stillwater County Montana.  During the year ended September 30, 2001,
an  additional  172 claims were staked and added, and 304 claims were abandoned,
resulting  in  a  net  total  of  79  claims  remaining.

Oregon  Property
----------------
During  the year ended September 30, 1999, the Company entered into an agreement
in  which  it  would  explore  and  stake five claims located in Jackson County,
Oregon known as the Shamrock property.  All transactions have been completed and
the  Company  has  acquired  title  to  these  claims.

Nevada  Properties
------------------
During  the year ended September 30, 1999, the Company entered into an agreement
whereby  Mountain  Gold Exploration would explore and stake claims, transferring
title  to  the Company upon completion thereof.  Transactions were finalized for
13  claims  known  as  the  Hardrock  Johnson  Property located in Clark County,
Nevada.  During  March  of  2000,  the  Company located and staked 31 unpatented
claims  known  as  the  Willow  Springs Claims.  These claims are located in Nye
County,  Nevada.


                                      F-13
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Nevada  Properties  (continued)
-------------------------------
In  1979,  the  Company  acquired  the  Pyramid  Mine,  which  consists  of five
unpatented  lode  mining claims near Fallon, Nevada.  This property is scheduled
for  disposal  pursuant  to  the  Company's  new focus on platinum and palladium
related  metals exploration. The claims are within the Walker Indian Reservation
and  located  on  the site of a U.S. Department of Defense bombing range.  As of
the  date  of  these  financial  statements,  no clean up has commenced on these
claims.  The  Company  is  not aware of any pending requirements for clean up of
hazardous  materials.  Pursuant  to  an  impairment  analysis  performed  by the
Company,  the  Company  wrote  off  its  $70,333 investment in the Pyramid Mine,
effective  prior  to  the  inception  of  the Company's exploration stage.  This
write-off  resulted  in a corresponding increase in accumulated deficit prior to
the  Company's  entering  the  exploration  stage.

Subsequent  to  September  30,  2001,  the  Pyramid Mine claims were sold by the
Company  to  a  related  party.  See  Note  13.

California  Properties
----------------------
In  mid-2000, the Company located 79 unpatented mining claims, known as the Pole
Corral  property,  in Tehema County, California.  In September 2000, the Company
located  33 unpatented mining claims known as the Cisco Butte property in Placer
County, California.  By September 30, 2001, the Company had abandoned all of its
interests  in  the  Cisco  Butte  property.

Canadian  Property
------------------
In August 2000, the Company entered into an agreement whereby Spectra Management
Corporation  would explore and stake five claims representing about 67,000 acres
for  the  Company  in  northern Saskatchewan.  This property is now known as the
Peter  Lake  Claims.  The  Company is obligated to complete work requirements of
$212,000  U.S.  by  June  1,  2002.

Idaho  Property
---------------
The  Company  owned  the Silver Strand Mine in Idaho until it was disposed of in
July  2001.  The  Company  initially  entered  into an agreement with New Jersey
Mining  Company  (New  Jersey) whereby the Company received 50,000 shares of New
Jersey's  restricted  common  stock  in exchange for New Jersey's opportunity to
earn  a  100%  interest  less  a net smelter royalty in the Company's unpatented
claims  in  Kootenai  County,  Idaho. In July, 2001, the Company quitclaimed any
remaining interest in the Silver Strand property to Mine Systems Design, Inc. in
exchange  for  cancellation of $22,539 of outstanding invoices due Mine Systems.
The  Company  also transferred 50,000 shares of New Jersey stock to Mine Systems
Design  as  part  of  this  settlement.

The  Company  wrote off the $104,753 book value of the property, effective prior
to  the  inception  of  its  exploration  stage.  This  write-off  resulted in a
corresponding  increase  in  accumulated deficit prior to the exploration stage.
The  Company  also  expensed  $19,000 in previously capitalized costs as mineral
property  expenses  in  1997.  The  value  of  the  securities  received  upon
disposition  of  the property was $5,000, which the Company recognized as a gain
on  disposition  in  the  year  ended  September  30,  2000.


                                      F-14
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  4  -  CAPITAL STOCK

Common  Stock
-------------
On March 28, 2001, the Company completed its reincorporation in Delaware.  Under
its  amended  certificate of incorporation, Trend has authorized the issuance of
100,000,000  shares  of  common  stock  with  a  par  value  of $0.01 per share.

On  February  16,  1999,  the Company's board of directors authorized a 1 for 10
reverse  stock split of the Company's no par value common stock.  As a result of
the  split,  26,356,430 shares were retired.  All references in the accompanying
financial  statements  to  the number of common shares and per-share amounts for
the  periods  presented  have  been restated to reflect the reverse stock split.

The  Company  from time to time issues common stock in exchange for services, as
compensation  or  for  the acquisition of assets.  Such stock is recorded at the
fair  market  value  on, or as near as possible to, the date of the transaction.

During  the  year ended September 30, 2000, the Company issued 226,194 shares of
common  stock,  valued  at  $145,490 to officers and directors, as compensation;
530,177  shares  of common stock valued at $251,635 for services provided to the
Company;  100,000  shares  of common stock valued at $89,000 in exchange for the
option  to  acquire a mineral property; 200,000 shares of common stock valued at
$66,000  for  New  Jersey  Mining  Company common stock; 65,285 shares of common
stock valued at $21,544 as incentive fees and 11,419,009 shares of common stock,
options and warrants for cash of $1,298,651. The Company issued 16,667 shares of
common  stock  valued  at  $11,000  to  an  employee  as  part of his employment
agreement.  The  Company  also  issued  to General Minerals Corporation (GMC) an
additional  129,938  shares  valued  at  $16,242 as part of the deferred cost of
acquiring  the  Lake Owen option. In addition, the Company issued 200,000 shares
of  common stock valued at $120,000 as partial consideration for the termination
of  certain  preemptive  rights  held  by  GMC.

During  the  year  ended September 30, 2001, the Company issued 69,161 shares of
common stock valued at $60,802 for services, 5,200 shares of common stock valued
at  $5,880 as compensation, 33,333 shares of common stock from options exercised
by an employee for cash of $10,000, 75,000 shares valued at $63,750 to directors
as  compensation,  3,000  shares valued at $2,340 to modify an agreement, 10,000
shares  valued  at  $8,000  in lieu of interest on unpaid invoices, 1,000 shares
valued at $850 for mineral property expenses, 92,000 shares of common stock sold
for  $192,000  cash  as  a  private placement and 134,500 shares of common stock
valued  at  $134,500  for  loans  payable.

See  Note  6  regarding  future  loan  repayments  in units of Trend securities.

Preferred  Stock
----------------
Under  its  amended  Delaware certificate of incorporation, Trend has authorized
the  issuance  of 20,000,000 shares of preferred stock with a par value of $0.01
per  share,  with rights and preferences to be determined by the Company's board
of  directors.


                                      F-15
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

Preferred  Stock  (continued)
-----------------------------
One  share of Series A preferred stock has been created and issued to Mr. Thomas
S.  Kaplan  under an agreement which requires the holder's approval of all stock
and  equity  issuances  until  such time as Mr. Kaplan, Electrum LLC or Asher B.
Edelman  no  longer  beneficially  own more than twenty percent of the Company's
outstanding  stock.  Holders  of  the  Company's  common  stock will vote on the
continued  existence  of  the Series A preferred stock at each subsequent annual
meeting.  If  the  Series  A  preferred  stock is not continued, the outstanding
share  of  Series  A  preferred stock will convert to one share of common stock.

The following table discloses the Company's stock and equity transactions during
its  exploration  stage.  This  information meets the disclosure requirements of
SFAS  No.  7  for  development and exploration stage disclosures.  The following
abbreviations  are used in the table:  CS for Common Stock; OPT for Options; and
WAR  for  Warrants.

<TABLE>
<CAPTION>

                                            NUMBER    PRICE   COMMON   ADDITIONAL              NUMBER    NUMBER   VALUE OF
                                 ISSUE        OF       PER     STOCK     PAID-IN      TOTAL      OF        OF     OPTIONS/
                                  DATE      SHARES    SHARE   AMOUNT     CAPITAL     AMOUNT    OPTIONS  WARRANTS  WARRANTS
                               ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
<S>                            <C>         <C>        <C>     <C>      <C>          <C>        <C>      <C>       <C>
BALANCE, OCTOBER 1, 1996                   1,754,242          $17,542  $   663,218  $ 680,760
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
Common stock, options and
warrants activity as follows:
-----------------------------
CS for Cash                    03/25/1997    200,000  $ 0.50    2,000       98,000    100,000
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
CS for Payment of liabilities
and expenses                   09/30/1997     45,511    0.50      455       22,301     22,756
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
BALANCE SEPTEMBER 30, 1997                 1,999,753           19,998      783,518    803,516                             -
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------


Common stock, options and
warrants activity as follows:
-----------------------------
CS for Mineral property        07/23/1998    150,000  $ 0.50    1,500       73,500     75,000
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
CS for Cash                    07/23/1998      7,500    0.20       75        1,425      1,500
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
CS for Lease termination       07/23/1998     12,000    0.50      120        5,880      6,000
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
CS for Debt                    07/23/1998     80,000    0.50      800       39,200     40,000
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
OPT for Financing              09/24/1998                                                      180,000            $   2,659
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
CS for Compensation            09/30/1998      9,000    0.50       90        4,410  $4,500.00
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------

BALANCE SEPTEMBER 30, 1998                 2,258,253          $22,583  $   907,933  $ 930,516  180,000         -  $   2,659
-----------------------------  ----------  ---------  ------  -------  -----------  ---------  -------  --------  ---------
</TABLE>


                                      F-16
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE 4  -  CAPITAL STOCK (CONTINUED)

<TABLE>
<CAPTION>

                                            NUMBER    PRICE   COMMON   ADDITIONAL               NUMBER    NUMBER   VALUE OF
                                 ISSUE        OF       PER     STOCK     PAID-IN      TOTAL       OF        OF     OPTIONS/
                                  DATE      SHARES    SHARE   AMOUNT     CAPITAL      AMOUNT    OPTIONS  WARRANTS  WARRANTS
                               ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
<S>                            <C>         <C>        <C>     <C>      <C>          <C>         <C>      <C>       <C>
BALANCE SEPTEMBER 30, 1998                 2,258,253          $22,583  $   907,933  $  930,516  180,000         -  $   2,659
                               ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------

Common stock, options and
warrants activity as follows:
-----------------------------
CS for Debt, investment and
expenses                       10/12/1998      9,210  $ 0.30       92        2,671       2,763
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Equipment               10/30/1998    600,000    0.30    6,000      174,000     180,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    11/28/1998      5,000    0.20       50          950       1,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  12/31/1998     30,858    0.44      309       13,191      13,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Directors'
compensation                   01/25/1999     16,500    0.25      165        3,960       4,125
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  01/31/1999      8,572    0.35       86        2,914       3,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  03/31/1999     24,000    0.25      240        5,760       6,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     03/31/1999      6,000    0.25       60        1,440       1,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     04/30/1999     32,000    0.28      320        8,640       8,960
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  04/30/1999     12,000    0.28      120        3,240       3,360
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     05/31/1999     73,333    0.25      733       17,600      18,333
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     06/30/1999     34,353    0.25      344        8,244       8,588
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  06/30/1999     50,000    0.16      500        7,500       8,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     06/30/1999     95,833    0.16      958       14,375      15,333
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     07/06/1999      5,000    0.25       50        1,200       1,250
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
OPT for Financing activities   07/22/1999                                                        50,000                    -
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Mineral property
option                         07/27/1999    715,996    0.13    7,160       82,471      89,631
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    07/29/1999     33,333    0.15      333        4,667       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     07/30/1999    146,603    0.12    1,466       16,126      17,592
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     07/31/1999    133,697    0.12    1,337       14,707      16,044
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  07/31/1999     41,667    0.12      417        4,583       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    08/04/1999     16,667    0.15      167        2,333       2,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Rent                    08/09/1999      1,000    0.25       10          240         250
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
OPT for Financing activities   08/13/1999                                                       100,000                    -
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    08/15/1999     50,000    0.05      500        2,000       2,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     08/17/1999      5,000    0.25       50        1,200       1,250
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    08/17/1999    100,000    0.05    1,000        4,000       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    08/26/1999    100,000    0.10    1,000        9,000      10,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     08/31/1999    159,750    0.25    1,598       38,341      39,938
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Prepaid expenses        09/10/1999     50,000    0.33      500       16,000      16,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    09/10/1999     50,000    0.10      500        4,500       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Cash                    09/13/1999    200,000    0.05    2,000        8,000      10,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     09/30/1999     80,053    0.26      801       20,013      20,814
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Officers' compensation  09/30/1999    133,333    0.26    1,333       33,334      34,667
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
CS for Consulting services     09/30/1999     67,500    0.26      675       16,875      17,550
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------

BALANCE SEPTEMBER 30, 1999                 5,345,511          $53,455  $ 1,452,009  $1,505,464  300,000         -  $   2,659
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -------  --------  ---------
</TABLE>


                                      F-17
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE 4 - CAPITAL STOCK (CONTINUED)

<TABLE>
<CAPTION>
                                            NUMBER    PRICE   COMMON   ADDITIONAL                 NUMBER      NUMBER     VALUE OF
                                 ISSUE        OF       PER     STOCK     PAID-IN      TOTAL         OF          OF       OPTIONS/
                                  DATE      SHARES    SHARE   AMOUNT     CAPITAL      AMOUNT      OPTIONS    WARRANTS    WARRANTS
                               ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
<S>                            <C>         <C>        <C>     <C>      <C>          <C>         <C>          <C>        <C>
BALANCE SEPTEMBER 30, 1999                 5,345,511          $53,455  $ 1,452,009  $1,505,464     330,000           -  $   2,659
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------

Common stock, options and
warrants activity as follows:
-----------------------------
CS for Consulting services     10/04/1999     50,000  $ 0.26      500       12,500      13,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash                    10/22/1999     25,000    0.20      250        4,750       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     10/31/1999    273,675    0.31    2,737       82,103      84,840
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Officers' compensation  11/30/1999     52,694    0.31      527       15,807      16,334
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     11/30/1999      4,327    0.31       43        1,298       1,341
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS, OPT & WAR for Cash         12/31/1999  1,000,000   0.012   10,000        2,414      12,414   8,108,000   6,250,000     87,586
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     12/31/1999      1,200    0.35       12          408         420
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     01/04/2000     15,000    0.28      150        4,050       4,200
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Investments             01/15/2000    200,000    0.33    2,000       64,000      66,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Incentive fees          01/17/2000     65,285    0.33      653       20,891      21,544
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
OPT Expiration                 01/22/2000                                                          (50,000)                     -
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash                    01/25/2000     14,286    0.35      143        4,857       5,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       02/22/2000  1,000,000   0.142   10,000      131,900     141,900  (1,000,000)                (1,900)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS & OPT for Employees'
compensation                   02/25/2000     16,667    0.66      167       10,833      11,000      33,333                  3,070
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     02/29/2000     10,000    0.72      100        7,100       7,200
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Mineral property        03/24/2000     50,000    1.03      500       51,000      51,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       03/27/2000  2,500,000   0.142   25,000      329,750     354,750  (2,500,000)                (4,750)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     03/31/2000     75,000    0.81      750       60,000      60,750
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Officers' compensation  03/31/2000      3,000    0.81       30        2,400       2,430
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Mineral property        04/04/2000     50,000    0.75      500       37,000      37,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS & OPT for Directors'
compensation                   04/11/2000    150,000    0.70    1,500      103,500     105,000      67,000                 12,750
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Deferred mineral
property acquisition costs     05/08/2000    129,938   0.125    1,299       14,943      16,242
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     05/15/2000      9,975    0.63      100        6,184       6,284
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash                    06/26/2000    416,961   0.056    4,170       19,361      23,531
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS & WAR for Modification
of stockholder agreement       06/26/2000    200,000    0.60    2,000      118,000     120,000                 200,000     30,000
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
OPT & WAR for
Modification of stockholder
agreement                      06/27/2000                                                        1,729,762   1,729,761     14,641
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       06/29/2000  1,597,588   0.064   15,976       86,740     102,716  (1,597,588)                (2,716)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Officers' compensation  06/30/2000      9,000    0.81       90        7,185       7,275
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Consulting services     06/30/2000      1,000    0.70       10          690         700
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
OPT Agreement Modification     07/07/2000                                                         (127,500)                     -
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       07/14/2000     10,000    0.30      100        2,900       3,000     (10,000)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       07/21/2000  1,800,000   0.122   18,000      201,060     219,060  (1,800,000)               (12,060)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       07/26/2000    650,000   0.122    6,500       72,605      79,105    (650,000)                (4,355)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Officers' compensation  07/31/2000      3,000    1.24       30        3,690       3,720
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       08/01/2000     50,000    0.15      500        7,000       7,500     (50,000)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       08/01/2000     50,000    0.30      500       14,500      15,000     (50,000)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       08/14/2000     90,000   0.122      900       10,053      10,953     (90,000)                  (603)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       08/24/2000  1,000,000   0.122   10,000      111,700     121,700  (1,000,000)                (6,700)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Directors'
compensation                   08/25/2000      1,500    1.00       15        1,485       1,500
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Cash from options       08/31/2000     15,000    0.30      150        4,350       4,500     (15,000)
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
CS for Officers' compensation  08/31/2000      1,000    1.13       10        1,120       1,130
-----------------------------  ----------  ---------  ------  -------  -----------  ----------  -----------  ---------  ----------
</TABLE>


                                      F-18
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

<TABLE>
<CAPTION>
                                             NUMBER     PRICE    COMMON   ADDITIONAL                 NUMBER      NUMBER
                                 ISSUE         OF        PER     STOCK      PAID-IN      TOTAL         OF          OF
                                  DATE       SHARES     SHARE    AMOUNT     CAPITAL      AMOUNT      OPTIONS    WARRANTS
                               ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
<S>                            <C>         <C>          <C>     <C>       <C>          <C>         <C>          <C>

CS for Cash from options       09/22/2000   1,200,174   $0.122  $ 12,002  $   134,720  $  146,722  (1,200,174)
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     09/22/2000      90,000     1.45       900       72,000      72,900
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Officers' compensation  09/30/2000       6,000     1.35        60        8,040       8,100
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
Cash for Warrants              09/30/2000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS/ WAR Adjustment             09/30/2000          (5)
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------

BALANCE SEPTEMBER 30, 2000                 18,232,776            182,328    3,296,897   3,479,225     127,833   8,179,761
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------

Common stock, options and
warrants activity as follows:
-----------------------------
CS for Cash from options       10/10/2000      33,333   $ 0.39       333       12,737      13,070     (33,333)
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     10/15/2000      10,000     1.15       100       11,400      11,500
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Officers' compensation  10/31/2000       3,000     1.30        30        3,870       3,900
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR for Consulting services    11/01/2000                                                                         250,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Employees'
compensation                   12/06/2000       2,200     0.90        22        1,958       1,980
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Cash                    12/20/2000     100,000     1.00     1,000       99,000     100,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR for Consulting services    12/31/2000                                                                         180,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     01/02/2001      10,000     1.35       100       13,400      13,500
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Cash                    01/11/2001      47,000     1.00       470       46,530      47,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     01/11/2001       3,407     1.00        34        3,373       3,407
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     01/23/2001         604     1.10         6          658         664
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Cash                    01/24/2001      25,000     1.00       250       24,750      25,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR for Loan agreements        02/01/2001                                                                         285,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Cash                    02/06/2001      20,000     1.00       200       19,800      20,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting services     02/06/2001         483     1.00         5          478         483
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Directors'
compensation                   02/23/2001      75,000     0.85       750       63,000      63,750
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
OPT for Director, officer and
employee compensation          02/23/2001                                                           1,200,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR for Loan agreements        03/12/2001                                                                          50,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR Extension of exercise
period                         03/12/2001
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Modification of
contract                       03/22/2001       3,000     0.78        30        2,310       2,340
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Interest payments         04/03/01       5,000     0.83        50        4,100       4,150
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Consulting Services       04/13/01         967     0.98        10          938         948
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for Mineral Property
Expense                          05/11/01       1,000     0.85        10          840         850
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR for loan agreement           07/01/01                                                                         185,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for services                  07/31/01      40,000     0.73       400       28,800      29,200
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for interest payment          08/08/01       5,000      .77        50        3,800       3,850
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
WAR attached to note             08/16/01                                                                          90,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for services                  08/28/01       3,700     0.30        37        1,063       1,100
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for loans payable             08/31/01      92,000     1.00       920       91,080      92,000
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
CS for loans payable             09/28/01      42,500     1.00       425       42,075      42,500
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
Options expired                                                                                      (319,700)
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------
BALANCE SEPTEMBER 30, 2001                 18,755,970           $187,559  $ 3,772,857  $3,960,416     974,800   9,219,761
-----------------------------  ----------  -----------  ------  --------  -----------  ----------  -----------  ---------


                                VALUE OF
                                OPTIONS/
                                WARRANTS
                               -----------
<S>                            <C>

CS for Cash from options       $   (8,702)
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Officers' compensation
-----------------------------  -----------
Cash for Warrants                  10,000
-----------------------------  -----------
CS/ WAR Adjustment
-----------------------------  -----------


BALANCE SEPTEMBER 30, 2000        118,920
-----------------------------  -----------


Common stock, options and
warrants activity as follows:
-----------------------------
CS for Cash from options           (3,070)
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Officers' compensation
-----------------------------  -----------
WAR for Consulting services       123,775
-----------------------------  -----------
CS for Employees'
compensation
-----------------------------  -----------
CS for Cash
-----------------------------  -----------
WAR for Consulting services        46,746
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Cash
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Cash
-----------------------------  -----------
WAR for Loan agreements            76,551
-----------------------------  -----------
CS for Cash
-----------------------------  -----------
CS for Consulting services
-----------------------------  -----------
CS for Directors'
compensation
-----------------------------  -----------
OPT for Director, officer and
employee compensation             354,000
-----------------------------  -----------
WAR for Loan agreements            13,430
-----------------------------  -----------
WAR Extension of exercise
period                            608,058
-----------------------------  -----------
CS for Modification of
contract
-----------------------------  -----------


CS for Interest payments
-----------------------------  -----------
CS for Consulting Services
-----------------------------  -----------
CS for Mineral Property
Expense
-----------------------------  -----------
WAR for loan agreement             45,079
-----------------------------  -----------
CS for services
-----------------------------  -----------
CS for interest payment
-----------------------------  -----------
WAR attached to note                6,487
-----------------------------  -----------
CS for services
-----------------------------  -----------
CS for loans payable
-----------------------------  -----------
CS for loans payable
-----------------------------  -----------
Options expired
-----------------------------  -----------
BALANCE SEPTEMBER 30, 2001     $1,389,976
-----------------------------  -----------
</TABLE>


                                      F-19
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  5  -  COMMON  STOCK  OPTIONS  AND  WARRANTS

On  February  23,  2001, the Company's shareholders approved the adoption of the
2000  Equity  Incentive  Plan  and the reservation of 5,000,000 shares of common
stock  for  distribution  under  the  plan.  These shares and options to acquire
those  shares  may  be  granted to the Company's employees (including officers),
directors  and  consultants.  The  plan  will terminate on January 4, 2011.  The
exercise price of options granted under this plan will not be less than the fair
market  price  on  the date of grant and in some cases not less than 110% of the
fair  market  price.  The  term,  vesting  schedule,  transfer  restrictions and
termination  are  to  be  determined  by  the  Company's  board  of  directors.

In  the  Black-Scholes  Option  Price  Calculations  below, the Company used the
following  assumptions  to  estimate fair value: the risk-free interest rate was
5.5%,  volatility was 30.0% in 1998, 55.12% in 1999, 48.05% in 2000 and 46.4% in
2001,  and the expected life of the options and warrants varied from one week to
5.5  years.  The  Company also assumed that no dividends would be paid on common
stock.

On February 23, 2001, the Company issued under the plan to its five non-employee
directors  an  aggregate of 75,000 shares of common stock and options to acquire
75,000  shares  with  an  exercise  price  of  $0.80 per share exercisable until
February  23,  2004.  The  Company  also  issued under the plan to its employees
(including  officers) options to acquire 1,125,000 shares with an exercise price
of $0.80 per share exercisable until February 23, 2004.  The total fair value of
the options issued to directors and employees, estimated on the grant date using
the  Black-Scholes  Option  Price Calculation, was $354,000.  The fair value was
charged  as  a  compensation  expense.

During 1999, the Company granted various stockholders options to acquire 150,000
shares  of  common  stock  at  prices  varying  from $0.15 to $0.35 per share as
additional  incentives  for  various  stock  purchases.  At the respective grant
dates,  these  options  were  each  determined to have no appreciable fair value
using  the  Black-Scholes  Option  Price  Calculation.

In  February  2000,  the  Company granted an employee options until February 25,
2002  to acquire 33,333 shares of common stock at an exercise price of $0.30 per
share  as  compensation.  The fair value of these options estimated on the grant
date  using the Black-Scholes Option Price Calculation was $3,070.  The employee
exercised  these  options  in  October  2000.

During  the  fiscal  year  ended  September  30,  2000,  the  Company's board of
directors  issued options to purchase 67,000 shares of its common stock at $0.50
per  share  to  six retired directors.  The options issued to each director were
based  on  years of service and are exercisable from April 15, 2000 to April 15,
2003.  The  fair  value  of  these options estimated on the grant date using the
Black-Scholes  Option  Price  Calculation  was  $12,750.

As  partial  consideration  for  an  amendment  to the GMC option agreement, the
Company  granted  to  GMC  in June 2000 a warrant to purchase 200,000 shares for
$0.70 per share exercisable until June 12, 2002.  The fair value of this warrant
estimated  on  the  date  of  issuance  using  the  Black-Scholes  Options Price
Calculation  was  $30,000.


                                      F-20
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  5  -  COMMON  STOCK  OPTIONS  AND  WARRANTS  (CONTINUED)

On November 17, 2000, the Company entered into a consulting agreement with R. H.
Barsom  Company, Inc., under which the consultant would perform certain services
for  the Company until June 30, 2001, for an advance fee of $100,000 and 180,000
shares  of  common stock.  In early January 2001, the Company and the consultant
agreed  to  terminate  the  agreement.  In  connection with the termination, the
consultant  surrendered the 180,000 shares of common stock and received warrants
to  purchase  180,000  shares  of the Company's common stock at $1.50 per share,
exercisable  until January 12, 2003.  The fair value of these warrants estimated
on  the grant date using the Black-Scholes Option Price Calculation was $46,746,
which  was  included  in  consulting expenses for the quarter ended December 31,
2000.

On  November  8,  2000,  effective  November 1, 2000, the Company entered into a
24-month agreement with Eurofinance Inc. under which the entity would assist the
Company with certain investment community matters in return for a monthly fee of
$5,000,  plus  expenses, and warrants to purchase 820,000 shares of common stock
at  $1.50  per  share.  The warrants were exercisable until November 1, 2005. In
early  January  2001,  this agreement was terminated, with the Company no longer
obligated  for  the  remaining  monthly  fees, and only the warrants for 250,000
shares  that vested on November 1, 2000 remained outstanding.  The fair value of
these  warrants  were estimated on the grant date using the Black-Scholes Option
Price  Calculation,  which was $123,775.  This amount is included in general and
administrative  expenses  for  the  year  ended  September  30,  2001.

In  a note dated August 16, 2001, a stockholder loaned the Company $90,000.  One
warrant  is  attached  to  each  dollar  of  debt, with a strike price of $1.50,
exercisable  through  June 9, 2004.  The fair value of these warrants, estimated
on  the grant date using the Black-Scholes Option Price Calculation, was $6,487.
See  Note  6.

LCM  Holdings, LLC loaned the Company $119,390 in a note dated October 22, 2001.
This  note  has  warrants  attached  to  it.  See  Note  13.

Tigris  Financial  Group  Ltd./Electrum  LLC
--------------------------------------------
On  December  29, 1999, the Company entered into a stock purchase agreement with
Tigris Financial Group Ltd. under which Tigris purchased 1,000,000 shares of the
Company's  common stock for $100,000, was granted an option until March 28, 2000
to  acquire up to an additional 3,500,000 shares of common stock for an exercise
price  of  $0.14  per  share, (or $490,000 in the aggregate), and was granted an
option  to  purchase,  for $10,000, warrants to purchase an additional 6,250,000
shares  of  the  Company's common stock at an exercise price of $0.40 per share.
The  Company used the Black-Scholes Option Price Calculation effective as of the
transaction  date and estimated the fair values to be $37,524 for the option and
$50,062  for  the  warrants.  On March 8, 2000, Tigris assigned its rights under
the  stock  purchase  agreement  to  Electrum  LLC,  an  affiliate.

Electrum  exercised  its  option  and acquired 3,500,000 shares of the Company's
common  stock in February and March of 2000.  Pursuant to the terms of the stock
purchase  agreement,  upon  exercise  in  full  of this first option, Electrum's
option until September 25, 2000 to purchase up to an additional 4,608,000 shares
of  common  stock  at  an  exercise price of $0.14 per share, or $645,120 in the
aggregate,  became  exercisable.


                                      F-21
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  5  -  COMMON  STOCK  OPTIONS  AND  WARRANTS  (CONTINUED)

On  June  27,  2000,  the  Company and Electrum entered into an amendment to the
stock purchase agreement under which the option to purchase 4,608,000 shares was
modified.  As  modified, Electrum had an option until July 5, 2000 to acquire up
to  an  additional  1,597,588  shares  at  $0.062  per  share or $100,000 in the
aggregate  and,  upon  exercise  in  full  of  this  option,  an  option  became
exercisable  until  September  25,  2000 to acquire up to 4,740,174 shares at an
exercise  price of $0.115 per share, or $545,120 in the aggregate.  In addition,
the  option  to purchase warrants was modified and, as modified, Electrum had an
option  to  purchase,  for $10,000, warrants to buy up to 7,979,761 shares at an
exercise  price  of  $0.40  per  share  until  September  20, 2003.  The Company
utilized  the  Black-Scholes Option Price Calculation to estimate the fair value
of  the  modifications  as of the grant date and recorded $4,262 for the options
and  $10,379  for  the  warrants.  The  $14,641  total  amount  was charged as a
financing  expense.

Electrum has exercised all of its options to purchase the Company's common stock
and  its  option to purchase the warrant.  In connection with its acquisition of
those  shares,  Electrum has assigned 5,530,174 shares and 1,000,000 warrants to
third  parties.

Pursuant  to  loan  agreements between the Company and Electrum LLC, the Company
issued  warrants  to acquire 285,000 shares at $1.50 per share in February 2001,
exercisable  through  September  30,  2003, warrants to acquire 50,000 shares at
$1.50  per  share  in  March  2001,  exercisable through September 30, 2006, and
warrants  to acquire 185,000 shares at $1.50 per share in July 2001, exercisable
through September 30, 2006. The Company also extended through September 30, 2006
the  expiration  dates  of  the  285,000 warrants, together with the warrants to
acquire  7,979,761 shares.  The fair values of the newly issued 285,000 warrants
and  50,000 warrants, estimated on their respective grant dates, as modified for
the  expiration  date  extension  in the case of the 285,000 warrants, using the
Black-Scholes  Option Price Calculation, were $76,551 and $13,430, respectively.
The  fair  value of the modification to extend the expiration date, estimated as
of  the  date  of  the  modification  for  the  7,979,761  warrants,  using  the
Black-Scholes  Option  Price  Calculation,  was  $608,058.

As  of  September  30,  2001,  Tigris  and Electrum own approximately 29% of the
Company's  outstanding  common  stock  and, assuming that Electrum exercises its
warrants  and  that the Company has issued no other shares, would own nearly 50%
of  the  Company's  then  outstanding  common  stock.

Electrum  had  certain preemptive rights, which were not exercised and have been
subsequently  terminated.  Tigris  and  Electrum  have the right to proportional
representation  on  the Company's board of directors and registration rights for
all  of the Company's common stock acquired through this agreement held by them.


                                      F-22
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS (CONTINUED)

Following  is  a  summary  of  the  status of the options during the years ended
September  30,  2001  and  2000:

<TABLE>
<CAPTION>
                                                              Weighted Average
                                           Number of Shares    Exercise Price
                                           -----------------  -----------------
<S>                                        <C>                <C>
Outstanding at October 1, 1999                      330,000   $            0.32
Granted                                           9,938,095                0.12
Exercised                                        (9,962,762)               0.12
Revised                                            (127,500)               0.36
Expired                                             (50,000)               0.35
                                           -----------------  -----------------
Outstanding at September 30, 2000                   127,833   $            0.51
                                           =================  =================
Options exercisable at September 30, 2000           127,833   $            0.51
                                           =================  =================


Outstanding at October 1, 2000                      127,833   $            0.51
Granted                                           1,200,000                0.80
Exercised                                           (33,333)               0.30
Expired                                            (319,700)               0.79
                                           -----------------  -----------------
Outstanding at September 30, 2001                   974,800   $            0.86
                                           =================  =================
Options exercisable at September 30, 2001           974,800   $            0.86
                                           =================  =================
Options exercisable:
    -On or before July 19, 2002                      12,500   $            1.00
    -On or before April 15, 2003                     67,000   $            0.50
    -On or before February 23, 2004                 895,300   $            0.80
</TABLE>

NOTE  6  -  RELATED  PARTY  TRANSACTIONS

The  Company  has  accrued director and officer fees in the amounts of $8,122 at
September  30,  2001.  As  of  September  30,  2000,  the  Company  owed fees to
directors  and  officers  and  in  the  amount  of  $11,100.

In  June  2000,  the  Company  and  GMC  amended the Lake Owen option agreement.
Pursuant to the amendment, the Company issued 416,961 shares at an average price
of  $0.06  per share to GMC in connection with the exercise by GMC of preemptive
rights.  In  addition,  the  Company  agreed to perform an additional $15,000 of
geophysical  survey  work  on  the Lake Owen project prior to December 31, 2000,
issued  200,000  additional  shares  of common stock to GMC and granted to GMC a
warrant  to  purchase  200,000 shares for $0.70 per share exercisable until June
12,  2002  in  exchange  for  GMC's  agreement to terminate its antidilution and
preemptive  rights  as provided in the original Lake Owen option agreement.  The
geophysical  survey  work  period  has  not been performed and has been extended
beyond  December  31,  2000.

Related  Party  Loans
---------------------
In  November  2000, the Company borrowed $135,000 from Electrum.  The loan bears
interest  at  an  annual  rate  of  5% and is due upon the earlier of either the
Company's completion of a public or private debt or equity financing or December
1,  2005.


                                      F-23
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  6  -  RELATED  PARTY  TRANSACTIONS  (CONTINUED)

Related  Party  Loans  (continued)
----------------------------------
In December 2000, the Company entered into an agreement with Electrum to provide
the  right  to borrow additional funds.  The funds obtained under this agreement
bear  interest  at  8%,  and repayment is due upon the Company's completion of a
public  or private debt or equity financing. The Company borrowed $200,000 under
this  agreement,  and  no  additional  funds are available under this agreement.

The  Electrum  loan  agreement  provides  that  if  these  loans are not paid by
February 1, 2001, the Company is required to grant Electrum warrants to purchase
285,000  shares  of  the  Company's  common stock at $1.50 per share exercisable
through  September 30, 2003.  The loans were not repaid by February 1, 2001, and
the  warrants  have been issued.  Electrum may also elect to be repaid partially
or  completely  in regards to the total principal and interest outstanding under
both  loans  in  "units"  of  Trend securities, at the rate of one unit per each
$1.25  owed.  Each unit would consist of one share of common stock and a warrant
to purchase one share of common stock at $1.50 per share, originally exercisable
through  September  30, 2003.  Electrum has agreed that at least $100,000 of the
November  2000  loan will be repaid in units.  This conversion of debt to equity
has  not been accomplished, and was not reflected in the financial statements as
of  September  30,  2001.

On  March  12,  2001,  the Company entered into an agreement with Electrum under
which the Company borrowed an additional $50,000 to fund its operating costs, on
the  same interest and repayment terms as the loans under the December 2000 loan
agreement.  Under this agreement, in March 2001, the Company granted to Electrum
warrants  to  purchase  an additional 50,000 shares of its common stock at $1.50
per  share,  exercisable through September 30, 2006.  The Company also agreed to
extend  through  September  30,  2006,  the  expiration dates of the warrants to
acquire  7,979,761  shares  issued  under  the  stock purchase agreement and the
warrants  to  acquire  285,000  shares issued under the December 2000 agreement.

In  the quarter ended March 31, 2001, the Company recorded a financing charge of
$608,058  related  to  the extension of the 7,979,761 warrants granted under the
stock  purchase  agreement  and recorded a financing charge totaling $89,981 for
the  grant  and extension of the 285,000 warrants issued under the December 2000
loan  agreement and the grant of the 50,000 warrants issued under the March 2001
loan  agreement.  These  financing  costs represent the fair value of the equity
issuances  under  the  Company's  Black-Scholes  Option  Price  Calculation.

On  April  11,  2001,  the Company entered into an agreement with Electrum under
which  the  Company may borrow additional funds from Electrum under the terms of
December  2000 loan agreement to fund its operating costs if Electrum elects, in
its  sole  discretion, to lend such funds. During the period from April 10, 2001
through  September 30, 2001, the Company borrowed $135,000 under this agreement.
The  funds  borrowed  under this agreement bear interest at 8%, and repayment is
due  upon  the  Company's  completion  of  a  private  or  public debt or equity
financing.  At  Electrum's  option,  the  Company  may  repay part or all of the
principal  and  interest outstanding under the loan in units as described above.

On  July  1, 2001, the Company issued 185,000 warrants to Electrum, strike price
$1.50, exercisable through September 30, 2006.  These were issued per Electrum's
request,  and the board of director's approval, that Electrum should possess one
warrant  for  every dollar of debt outstanding.  This brought the total warrants
issued related to notes payable to Electrum to 520,000 as of September 30, 2001.



                                      F-24
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  6  -  RELATED  PARTY  TRANSACTIONS  (CONTINUED)

Related  Party  Loans  (continued)
----------------------------------
A  stockholder  loaned the Company $90,000 in a note dated August 16, 2001.  See
Note  5.  This loan bears interest at 8% per annum and is due upon the Company's
completion  of  a  private  equity placement and concurrently and proportionally
with  any  amounts  repaid  to  Electrum  LLC or any others having provided loan
facilities  of  this  type to the Company.  This same stockholder, subsequent to
September  30,  2001,  loaned  the  Company an additional $10,000 under the same
terms  as  the  $90,000  loan.  See  Note  13.

During  the  quarter  ended  September  30,  2001, various other related parties
loaned  the Company a total of $193,500.  Of this amount, $134,500 was converted
to  equity  by  September  30, 2001 at $1 per share.  See Note 5.  The remaining
amount  of  $59,000  has  been  recorded  as short-term, uncollateralized loans,
bearing  no  interest  and having no specific due date.  Of the $59,000, $25,000
has  been converted, subsequent to September 30, 2001, to common stock shares in
the  Company.  See  Note  13.

Employment  Agreement
---------------------
In  July  2000, the Company entered into an employment agreement with John Ryan,
then  the chief financial officer, secretary and treasurer of the Company, under
which  Mr.  Ryan  received  3,000  shares  per  month  of  Trend common stock as
compensation  for  his  services.  Mr.  Ryan resigned in December 2000, and this
agreement  was terminated.  No amounts were owed to Mr. Ryan as of September 30,
2001.  In  July  2001,  Mr.  Ryan  was  again  designated as the Company's chief
financial  officer,  secretary  and  treasurer.


NOTE  7  -  PROPERTY  AND  EQUIPMENT

Property  and  equipment are recorded at cost.  Major additions and improvements
are  capitalized.  Minor  replacements,  maintenance  and  repairs  that  do not
increase  the useful lives of the assets are expensed as incurred.  Depreciation
of  property  and  equipment,  including vehicles, is being calculated using the
straight-line method over the expected useful lives of five years of the assets.
Depreciation  expense  for  the  years  ending  September  30, 2001 and 2000 was
$17,815  and  $10,823,  respectively.

The following is a summary of property, equipment, and accumulated depreciation.


                                         September 30,    September 30,
                                             2001             2000
                                        ---------------  ---------------
     Furniture, Equipment and Vehicles  $       51,288   $       51,288
     Less: Accumulated Depreciation            (28,926)         (11,111)
                                        ---------------  ---------------
                                        $       22,362   $       40,177
                                        ===============  ===============


NOTE 8 - INVESTMENTS

The  Company's  securities  investments  are  classified  as  available-for-sale
securities  which  are recorded at fair value in investments and other assets on
the balance sheet, with the change in fair value during the period excluded from
earnings  and  recorded net of tax as a component of other comprehensive income.
The  Company  has  no  securities,  which are classified, as trading securities.


                                      F-25
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


NOTE 8 - INVESTMENTS (CONTINUED)

The  Company recognized a charge for other comprehensive loss of $38,314 for the
year  ended  September  30,  2000.  In  the  year  ended September 30, 2001, the
Company  recognized  income  of  $413  for  the  change  in  the market value of
investments.  The  investment in New Jersey Mining Company was liquidated during
the  period  ended  March  31,  2001 and the Company realized a loss of $78,033.

The  Company  disposed  of  its  last 50,000 shares of New Jersey Mining Company
stock  to  Mine  Systems  Design,  Inc. in settlement of a consulting invoice of
$22,539.  The  Company  realized  a  gain  of  $22,539  on  this  transaction.


NOTE 9 - NOTES PAYABLE

Following is a summary of long-term debt as of September 30, 2001 and 2000:

<TABLE>
<CAPTION>
                                                                     September 30,
                                                                  ------------------
                                                                    2001      2000
                                                                  --------  --------
<S>                                                               <C>       <C>

Note payable to Wells Fargo
      Interest at 14.99%, secured by vehicle, payable in monthly
      installments of $179 through February 28, 2003              $ 2,914   $ 4,339

Note payable to Wells Fargo
      Interest at 14.99%, secured by vehicle, payable in monthly
      installments of $231 through April 7, 2005                    7,722     9,042
                                                                  --------  --------

      Total notes payable                                          10,636    13,381

      Less:  Current maturities included in current liabilities    (3,564)   (2,992)
                                                                  --------  --------

                                                                  $ 7,072   $10,389
                                                                  ========  ========
</TABLE>

Following  are  the  maturities  of  long-term  debt  for  the next three years:

                2003                             $  3,088
                2004                                2,330
                2005                                1,654
                                                 --------
                                                 $  7,072
                                                 ========

NOTE  10  -  COMMITMENTS  AND  CONTINGENCIES

Lake  Owen  Option  Agreement
-----------------------------
In  July  1999,  the  Company executed an option agreement with General Minerals
Corporation  ("GMC")  wherein  the Company may earn a 100% interest in a mineral
property  in  Albany  County, Wyoming in exchange for its payment of exploration
expenditures  during  the  three-year option period, which commenced on July 27,
1999.  Under  the  agreement,  the  Company  is  obligated  to spend $750,000 on
exploration  expenditures  for  this  project,  commonly  known as the Lake Owen
property,  during  the  option



                                      F-26
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  10  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Lake  Owen  Option  Agreement  (continued)
------------------------------------------
period,  with  no  less than $150,000 of such expenditures to be made within the
first  year.  The  agreement  was  amended  in  June  2000 to include $15,000 of
geophysical  survey  work.

In  consideration for the aforementioned option, the Company paid GMC $40,000 in
cash  and  issued to GMC 715,996 shares in 1999 and 129,938 shares in 2000.  The
Company  and  GMC  subsequently entered into an amendment to the agreement under
which  (i)  the  Company issued 416,961 shares of common stock to GMC upon GMC's
exercise  of preemptive rights, (ii) the Company agreed to perform an additional
$15,000  of geophysical work on the Lake Owen Project prior to December 31, 2000
(subsequently  modified), (iii) the Company issued 200,000 additional shares and
warrants  exercisable  until  June  2002 to purchase 200,000 shares at $0.70 per
share,  and  (iv) GMC agreed to terminate its antidilution and preemptive rights
as  provided  in  the  original  agreement.

Lease  Agreements
-----------------
Through  the year ended September 30, 2000, the Company rented office facilities
in  Coeur d'Alene, Idaho on a month-to-month basis.  Total rents paid during the
year  ended  September  30,  2000  were  $5,530.

During  the period ended December 31, 2000, the Company entered into a lease for
its  executive offices in Coeur d'Alene, Idaho.  The lease has a three-year term
with  monthly  rent  of  $2,656  in  addition to a $2,656 security deposit.  The
Company  has  the  option  to  extend the lease for an additional two years at a
monthly  rent  of  $2,921.  The  Company's rent expense reflects a reduction for
payments  for  improvements that were considered to be in lieu of lease expense.
Total  rent  expense for the year ended September 30, 2001 was $30,180.  Of this
amount,  $5,312  was  outstanding  at  September  30,  2001.

In  July  2000,  the  Company  entered into a new lease agreement for additional
office  facilities in Reno, Nevada.  The agreement is a two year lease and calls
for  monthly  payments  of  $1,725  during  the first year and $1,775 during the
second  year  in  addition  to a $350 security deposit.  Prior to the signing of
this  lease,  the  Company had occupied the facilities on a month-to-month basis
for $1,714 per month.  Total rents during the years ended September 30, 2001 and
2000  were  $20,421  and  $3,438,  respectively.  As  of September 30, 2001, the
Company  no longer occupies these facilities in Nevada.  Management is currently
carrying  on  negotiations  with  the  leassor as to whether the Company will be
liable  for  the  remainder  of  the  lease.

On  August  2,  2001,  the  Company signed a month-to-month rental agreement for
storage  space  in  Coeur d'Alene, ID.  The monthly payment is $425.  Delinquent
rental  payments  are  subject to a 12% per annum interest charge.  The space is
being  used  by  the  Company  to  store  core  from  the  Lake  Owen  property.

Consulting  Agreements
----------------------
On November 17, 2000, the Company entered into a consulting agreement with R. H.
Barsom  Company, Inc., under which the consultant would perform certain services
for  the Company until June 30, 2001, for an advance fee of $100,000 and 180,000
shares  of  common stock.  In early January 2001, the Company and the consultant
agreed  to  terminate  the  agreement.  In  connection with the termination, the
consultant  surrendered the 180,000 shares of common stock and received warrants
to  purchase  180,000  shares  of the Company's common stock at $1.50 per share,
exercisable  until  January  2003.


                                      F-27
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  10  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Consulting  Agreements  (continued)
-----------------------------------
On  November  8,  2000,  effective  November 1, 2000, the Company entered into a
24-month agreement with Eurofinance Inc. under which the entity would assist the
Company with certain investment community matters in return for a monthly fee of
$5,000,  plus  expenses, and warrants to purchase 820,000 shares of common stock
at  $1.50  per  share.  The warrants were exercisable until November 1, 2005. In
early  January  2001,  this agreement was terminated, with the Company no longer
obligated  for  the  remaining  monthly  fees, and only the warrants for 250,000
shares  that vested on November 1, 2000 remained outstanding as of September 30,
2001.  Subsequently,  these  warrants  have  been  cancelled.

On  October 31, 2000, the Company entered into a consulting agreement with Brian
Miller under which Mr. Miller performed certain services for the Company.  Under
this  agreement,  Mr.  Miller  was  to  have  received  cash  for his consulting
services  and  was  granted  10,000  shares of common stock effective January 2,
2001..  On  February 23, 2001, Mr. Miller was also granted an option to purchase
107,800  shares  at  $.80.  On  July  20, 2001, Mr. Miller was informed that the
Company  would  no  longer  require  his  services.  The  Company  is  currently
negotiating  with  Mr.  Miller  regarding  outstanding invoices due to him.  The
107,800  options  have expired because they were not exercised within 90 days of
termination  of  his  consulting  agreement.


NOTE  11  -  DISPOSAL  AND  IMPAIRMENT  OF  ASSETS

In  late  1998,  the  Company  acquired  mining  equipment valued at $180,000 in
exchange  for  600,000  shares  of common stock with a value of $0.30 per share.
Most  of  this  equipment was sold during the year ending September 30, 1999 for
$32,300,  resulting  in a realized loss of $129,700.  In addition, an impairment
of  $14,000,  representing  the  excess  of  the  $18,000  carrying value of the
remaining  equipment  over its fair value of $4,000, was included in the loss on
disposition  and  impairment  of  assets charged to operations in the year ended
September  30,  1999.  The Company also recognized a loss of $55,000 on the sale
of  the  Rae  Wallace  Mine,  which had been acquired during 1998 for $75,000 in
common  stock  and  was sold in 1999 for $20,000.  In addition, the Company sold
miscellaneous  equipment  in  1999, recognizing $7,026 in additional gains.  See
Note  3.

During  the  year  ended  September  30,  2000, the Company recognized a gain of
$5,000  on  the sale of the Silver Strand Mine, for which it received New Jersey
Mining Company stock valued at $5,000 and retained a royalty.  The mine had been
acquired  for  common  stock  in  1984. This New Jersey Mining Company stock was
subsequently  transferred to a consultant in settlement of outstanding invoices.
See  Notes  3,  8  and  13.


NOTE  12  -  CORRECTION  OF  AN  ERROR

Subsequent  to  the  Company's  year-end,  it  was  determined that loans to the
Company  were  overstated  by  $85,000  at  September  30, 2001 and that 185,000
warrants  valued  at $45,079 were understated at the same date.  In addition, it
was  also  determined  that  5,000  shares  of common stock, valued at $0.77 per
share,  were  issued but not recorded in the year ended September 30, 2001.  The
aforementioned  corrections  resulted in a decrease of $36,071 to the previously
reported  accumulated  deficit  and  loss for the year ended September 30, 2001.


                                      F-28
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

NOTE  13  -  SUBSEQUENT  EVENTS

Loans  to  Company
------------------
A  stockholder loaned the Company $10,000 subsequent to September 30, 2001.  See
Note  6.  One  warrant  is  attached to every dollar of this debt, with a strike
price  of  $1.50,  exercisable  until  January  9,  2004.

LCM  Holdings, LLC loaned the Company $119,445 in a note dated October 22, 2001.
This  loan  bears  interest  at  8%  per  annum  and  is  due upon the Company's
completion  of  a  private  equity placement and concurrently and proportionally
with  any  amounts  repaid  to  Electrum  LLC or any others having provided loan
facilities of this type to the Company.  One warrant is attached to every dollar
of  this  debt, with a strike price of $1.50, exercisable until January 9, 2004.

Share  Issuances
----------------
A  consultant  loaned  the  Company $25,000 in September of 2001.  This debt was
converted  to  25,000  shares  of  equity  in  the  Company  on October 3, 2001.

An  outstanding  invoice  to  a  technology  consultant,  which  is reflected in
accounts  payable  at  September  30,  2001  in  the  amount  of $11,894.30, was
partially  converted  to 12,536 shares of equity in the Company per an agreement
dated  October  4,  2001.  A  cash payment is still outstanding in the amount of
$5,000.

Warrants  Cancelled
-------------------
Warrants  for  250,000  shares  of common stock with a strike price of $1.50 and
warrants  for  25,000  shares  of common stock with a strike price of $0.40 were
cancelled in a letter dated November 15, 2001.  Prior to cancellation, these had
been  assigned  by  Electrum  LLC to Eurofinance, who in turn assigned them to a
third  party  who  was  the  holder  at  the  time  of  cancellation.

Property  Quitclaimed
---------------------
The Pyramid Mine claims were sold by the Company on November 12, 2001 to Calumet
Mining  Company  for  50,000 shares of common stock of Calumet Mining Company, a
related  party.  The  CFO  of  the Trend Mining Company is also the president of
Calumet  Mining  Company.


                                      F-29
<PAGE>