**UNITED      STATES **

**SECURITIES      AND EXCHANGE COMMISSION **

**WASHINGTON,      D.C. 20549**

**FORM      10-KSB/A**

**AMENDMENT      NO. 2**

| Delaware                                                                                     | 81-0304651                                                      |
|----------------------------------------------------------------------------------------------|-----------------------------------------------------------------|
| (State                or Other Jurisdiction of Incorporation                or Organization) | (IRS                Employer Identification                No.) |

| 5439                South Prince Street, Littleton, Colorado | 80120                     |
|--------------------------------------------------------------|---------------------------|
| (Address                of Principal Executive Offices)      | (Zip                Code) |

| (303)                798-7363                                                        |
|--------------------------------------------------------------------------------------|
| (Issuer’s                Telephone Number, Including Area                Code) |

| Title                of Each Class | Name                of Each Exchange On                Which Registered |
|------------------------------------|-------------------------------------------------------------------------|
| None                               |                                                                    |
|                               |                                                                    |

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**WARNING      CONCERNING FORWARD LOOKING STATEMENTS**

| ·   | Trend’s                ability to generate revenues or find alternative sources of                capital; |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| ·   | Trend’s                ability to successfully establish mining operations and profitably                produce                platinum group or other metals at Trend’s                properties; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Trend’s                ability to maintain good title to Trend’s                claims; |
|--------------------|-----------------------------------------------------------------------------------------------------|

| ·   | Trend’s                ability to comply with existing laws and regulations relating to                exploration and development, permitting procedures, safety precautions,                property reclamation, employee health and safety, and environmental                laws;                and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Trend’s                ability to retain key employees. |
|--------------------|---------------------------------------------------------------|

| ·   | Whether                Trend’s properties are found to contain commercially viable quantities                of                minerals; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                impact of changes in the economy, including the liquidity of precious                metals markets, on us; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

| ·   | Changes                in political and economic conditions in major metals producing regions                such as Russia and South Africa, causing fluctuations in the precious                metals markets; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Inability                to fund diligence work at Trend’s properties required to secure Trend’s                rights under Trend’s unpatented mining                claims; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Compliance                with and changes to regulations within the exploration, development                and                mining industries, such as regulations relating to taxes, royalties,                land                tenure and land use; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·  | Compliance with and changes to environmental              regulations; |
|--------------|------------------------------------------------------------------------|

| ·   | Challenges                to the validity of Trend’s unpatented mining claims by the government or                third parties; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Competition                within the exploration, development and mining industries;                and |
|--------------------|----------------------------------------------------------------------------------------------------------|

| ·   | Changes                in federal, state and local                legislation. |
|--------------------|--------------------------------------------------------------------------------|

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**TREND      MINING COMPANY **

**FORM      10-KSB ANNUAL REPORT **

**FOR      THE FISCAL YEAR ENDED SEPTEMBER 30, 2004**

| ITEM                1. | Description                Of Business | 1 |
|------------------------|----------------------------------------|---|

| ITEM                2. | Description                Of Property | 4 |
|------------------------|----------------------------------------|---|

| ITEM                3. | Legal                Proceedings |  11 |
|------------------------|----------------------------------|----------|

| ITEM                4. | Submission                Of Matters To A Vote Of Security Holders | 12 |
|------------------------|--------------------------------------------------------------------|----|

| ITEM                5. | Market                For Common Equity And Related Shareholder Matters | 13 |
|------------------------|-------------------------------------------------------------------------|----|

| ITEM                6. | Plan                Of Operation | 17 |
|------------------------|----------------------------------|----|

| ITEM                7. | Financial                Statements | 20 |
|------------------------|-------------------------------------|----|

| ITEM                8. | Directors                & Executive Officers | 56 |
|------------------------|---------------------------------------------------|----|

| ITEM                9. | Executive                Compensation | 59 |
|------------------------|---------------------------------------|----|

| ITEM                10. | Security                Ownership of Certain Beneficial Owners and Management | 61 |
|-------------------------|-------------------------------------------------------------------------------|----|

| ITEM                11. | Certain                Relationships and Related Transactions | 63 |
|-------------------------|---------------------------------------------------------------|----|

| ITEM                12. | Exhibits                And Reports On Form 8-K | 67 |
|-------------------------|-------------------------------------------------|----|

| ITEM                13. | Principal                Accountant Fees And Services | 70 |
|-------------------------|-------------------------------------------------------|----|

|   | * | Except                as otherwise specified in the applicable Item, incorporated by reference                from Trend’s Proxy Statement for the annual meeting of shareholders to be                held on March 3, 2005, to be filed pursuant to Regulation                14A. |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**PART      I**

**ITEM      1.**
**Description      o**
**f      Business**

**TREND**
**’S      EXPLORATION PROCESS**

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**COMPETITION**

**LICENSE      AND ROYALTY AGREEMENTS**

**GOVERNMENT      COMPLIANCE**

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**WEATHER**

**EMPLOYEES**

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**ITEM      2.**
**DESCRIPTION      OF PROPERTY**

| PROPERTY                         | LOCATION                             | ACRES                     | COST                OF PROPERTY  | WORK                PERFORMED                                              | 2004-2005EXPLORATION                BUDGET  |
|---------------------------------------|-------------------------------------------|--------------------------------|---------------------------------------|---------------------------------------------------------------------------------|--------------------------------------------------|
| Peter                Lake        | Saskatchewan,                Canada  | 90,559                    | $16,993                (1)            | Geochemical                sampling, reconnaissance, claim group expanded  | $200,000                                    |
| Lake                Owen/Albany  | WY                                   | 12,020                    | $2,271,708                (2)    | Surface                Sampling 2002                                       | $100,000                (3)                 |
| Cree                Lake         | Saskatchewan,                Canada  | 4,224                ha   | $2,816                (4)        | Acquired                September- October 2004                            | Nuinsco                Resources            |
|                                  |                                      | 10,438                ac  |                                  |                                                                            | Became                operator 12/04        |
| Total                                 |                                      | 113,017                        | $2,350,321                            |                                                                            | $300,000                                         |

| (1) | The                cumulative cost of staking expenses and recording                fees. |
|-----|-------------------------------------------------------------------------------------------|

| (2) | $1,943,079                to purchase the Lake Owen property, $324,550 in cumulative Lake Owen                fees,                $3,275 in cumulative Albany fees, and $804 in miscellaneous County                filing                and other fees and expenses. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Combined                budget for Lake Owen and Albany                projects. |
|-----|----------------------------------------------------------------------------------|

| (4) | Cost                of staking plus registration fees, comprised of $2816 FY                04. |
|-----|-------------------------------------------------------------------------------------------------|

| ·   | The                existence and sufficiency of a discovery of valuable minerals, as                required                under the 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; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Timely                and proper performance of sufficient annual assessment work (and                individual claims may be aggregated for purposes of work programs,                such                that work on one claim may benefit                several); |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Possible                conflict with other claims not determinable from descriptions of                record. |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

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| ·   | If                work or fees have not been conducted or paid by the anniversary date                of                the current year, then a cash deposit equivalent to the fee that                had been                due may be paid within 90 days after the anniversary date, and the                claim                will be valid for another year as long as twice as much work is conducted                the following year, at which time a full refund of the cash deposit                is                granted; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                Province establishes a fund each year out of which it will match                25% of                corporate exploration costs up to a total of $C100,000. If companies                oversubscribe for amounts in the fund, then Saskatchewan allocates                its                matching funds proportionately. In theory, Trend could spend $C400,000                on                exploration and receive a rebate of                $C100,000. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| PROPERTY                        | FEDERAL                FEES | COUNTY                FEES | PROVINCIAL                FEES OR | ASSESSMENT                WORK |
|---------------------------------|-----------------------------|----------------------------|-----------------------------------|--------------------------------|
| Lake                Owen/Albany | $75,125                     | $661                       | N.A.                              | N.A.                           |
| Peter                Lake       | N.A.                        | N.A.                       | $C439,776                OR       | $US                348,586     |
| Cree                Lake        | N.A.                        | N.A.                       | $C                50,688 or       | $US                40,178      |
| Total:                          | $75,125                     | $661                       | $C                490,464         | $US                388,764     |

**INSURANCE**

**PETER      LAKE, SASKATCHEWAN, CANADA**

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**LAKE      OWEN AND ALBANY PROJECTS, WYOMING**

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**LOCATION      MAPS**

**GLOSSARY      OF TERMS**

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**ITEM      3.**
**LEGAL      PROCEEDINGS**

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**ITEM      4.**
**SUBMISSION      OF MATTERS TO A VOTE OF SECURITY HOLDERS**

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**PART      II**

**ITEM      5.**
**MARKET      FOR COMMON EQUITY AND RELATED SHAREHOLDER MATTERS**

| FISCAL                QUARTER |   | HIGH                BID (1) |   | LOW                BID (1) |   |
|-------------------------------|--------|-----------------------------|--------|----------------------------|--------|
|                          |   |                        |   |                       |   |
| 2004                          |   |                        |   |                       |   |
| Fourth                Quarter |   | $                           | 0.29   |                       | $      | 0.16 |   |
| Third                Quarter  |   | $                           | 0.45   |                       | $      | 0.23 |   |
| Second                Quarter |   | $                           | 0.41   |                       | $      | 0.17 |   |
| First                Quarter  |   | $                           | 0.58   |                       | $      | 0.23 |   |
| 2003                          |   |                        |   |                       |   |   |   |
| Fourth                Quarter |   | $                           | 0.40   |                       | $      | 0.12 |   |
| Third                Quarter  |   | $                           | 0.18   |                       | $      | 0.12 |   |
| Second                Quarter |   | $                           | 0.32   |                       | $      | 0.17 |   |
| First                Quarter  |   | $                           | 0.20   |                       | $      | 0.14 |   |

| (1) | These                quotations are from the OTC Bulletin Board and reflect inter-dealer                prices, without retail mark-up, mark-down or commissions and may                not                represent actual transactions. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                      |   | Number                of securities remaining available for future issuance under equity                compensation plans (excluding securities reflected in column                (a)) |                        | Number                of securities to be issued upon exercise of outstanding options,                warrants                and rights |   | Weighted-average                exercise price of outstanding options, warrants and rights |   |
|---------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|--------|
|                                                                      |   | (a)                                                                                                                                                                                      |                        | (b)                                                                                                                                      |   | (c)                                                                                        |   |
| Equity                compensation plans approved by security holders     |   |                                                                                                                                                                                     | 1,200,000                (2 | )                                                                                                                                        | $      | 0.44                                                                                       |   |   | 3,200,000                (1 | ) |
| Equity                compensation plans not approved by security holders |   |                                                                                                                                                                                     | 0                           |                                                                                                                                     |   | 0                                                                                          |   |   | 0                (3 | ) |
| Total                                                                     |   |                                                                                                                                                                                     | 1,200,000                   |                                                                                                                                     |   |                                                                                       |   |   | 3,200,000 |   |

| (1) | Trend’s                2000 Equity Incentive Plan was adopted by Trend’s shareholders at Trend’s                annual meeting of shareholders held on February 23, 2001. 5,000,000                shares                are authorized for issuance pursuant to equity awards under Trend’s 2000                Equity Incentive Plan. Under Trend’s 2000 Equity Incentive Plan, the                Company grants restricted stock and options to Trend’s officers (and may                grant them to employees and consultants in the future), subject to                vesting                requirements. In addition, under this plan, Trend’s directors receive                grants of options and common stock as part of their annual compensation                for serving as Trend’s directors. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | In                the fiscal year ended September 30, 2004, Trend issued options to                purchase                common stock to Thomas Loucks, upon his acceptance as President of                the                Company totaling 500,000 shares, 250,000 of which vested upon his                acceptance. The remaining 250,000 options vest over a period of three                years. In the fiscal year ended September 30, 2004, Trend also issued                options to purchase common stock to Ishuing Wu, shortly after his                acceptance as Chairman of the Company totaling 500,000 shares, 250,000                of                which vested upon his acceptance. The remaining 250,000 options vest                over                a period of three years. These options were issued pursuant to the                2000                Equity Incentive Plan. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | This                table does not include warrants to purchase 8,868,174 shares at an                average                exercise price of $.49 which are issued and outstanding. The table                also                does not include warrants and common stock issuable in connection                with                certain loans from shareholders to the Company. From 2000 to the                end of                the reporting period, Trend has incurred net convertible debt aggregating                $1,032,857 (the “Shareholder Debt”) pursuant to loan agreements with                certain of Trend’s shareholders. The terms of these loans vary as follows:                (A) on $130,000 of the debt, each $0.50 of the Shareholder Debt is                convertible into units comprised of one share of Trend’s common stock and                one warrant to purchase a share of Trend’s common stock at $1.00; and (B)                on $902,857 of the debt, each $1.25 of the Shareholder Debt is convertible                into units comprised of one share of Trend’s common stock and one warrant                to purchase a share of Trend’s common stock at $1.50. If all Shareholder                Debt were converted to units per these terms, 982,286 additional                shares of                common stock and 722,286 additional warrants exercisable at $1.50,                and                260,000 additional warrants exercisable at $1.00 would be                issued. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**ITEM      6.**
**PLAN      OF OPERATION**

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**ITEM      7.**
**FINANCIAL      STATEMENTS**

**TREND      MINING COMPANY**

**(AN      EXPLORATION STAGE COMPANY)**

**FINANCIAL      STATEMENTS SEPTEMBER 30, 2004**

| REPORT OF INDEPENDENT REGISTERED PUBLIC              ACCOUNTING FIRM                                |  21 |
|-----------------------------------------------------------------------------------------------------|----------|
| FINANCIAL STATEMENTS                                                                                |     |
|     Balance              Sheets                                                 |  22 |
|     Statements              of              Operations and Comprehensive Loss   |  23 |
|     Statement              of              Stockholders’ Equity (Deficit) |  24 |
|     Statements              of              Cash Flows                          |  29 |
|     Noted              to the              Financial Statements                 |  31 |

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*Certified      Public Accountants*

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**TREND      MINING COMPANY**

**(An      Exploration Stage Company)**

**BALANCE      SHEETS**

|                                                                                                                                                                             |   | September                30, |       |                         |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|------------|------------------------------|--------|
|                                                                                                                                                                             |   | 2004                         |       | September                30, |   |
|                                                                                                                                                                             |   | Restated                     |       | 2003                         |   |
| **ASSETS**                                                                                                                                                                       |   |                         |       |                         |   |
| CURRENT                ASSETS                                                                                                                                                    |   |                         |       |                         |   |
| Cash                                                                                                                                                                             |   | $                            | 8,313      |                         | $      | 2,558 |   |
| Prepaid                expenses                                                                                                                                                  |   |                         | 2,948      |                         |   | - |   |
| Total                Current Assets                                                                                                                                              |   |                         | 11,261     |                         |   | 2,558 |   |
| MINERAL                PROPERTIES                                                                                                                                                |   |                         | -          |                         |   | - |   |
| PROPERTY                AND EQUIPMENT, net of depreciation                                                                                                                       |   |                         | 6,631      |                         |   | 5,172 |   |
| OTHER                ASSETS                                                                                                                                                      |   |                         |       |                         |   |   |   |
| Investments                                                                                                                                                                      |   |                         | -          |                         |   | 57,300 |   |
| **TOTAL                ASSETS**                                                                                                                                                  |   | $                            | 17,892     |                         | $      | 65,030 |   |
| **LIABILITIES                AND STOCKHOLDERS' DEFICIT**                                                                                                                         |   |                         |       |                         |   |   |   |
| CURRENT                LIABILITIES                                                                                                                                               |   |                         |       |                         |   |   |   |
| Accounts                payable                                                                                                                                                  |   | $                            | 205,686    |                         | $      | 146,419 |   |
| Accounts                payable - checks in excess of bank balance                                                                                                               |   |                         | -          |                         |   | 3,297 |   |
| Accrued                expenses                                                                                                                                                  |   |                         | 75,780     |                         |   | - |   |
| Interest                payable                                                                                                                                                  |   |                         | 125,561    |                         |   | 135,425 |   |
| Notes                payable to related parties                                                                                                                                  |   |                         | 1,032,857  |                         |   | 1,097,857 |   |
| TOTAL                CURRENT LIABILITIES                                                                                                                                         |   |                         | 1,439,884  |                         |   | 1,382,998 |   |
| COMMITMENTS                AND CONTINGENCIES                                                                                                                                     |   |                         | -          |                         |   | - |   |
| STOCKHOLDERS'                DEFICIT                                                                                                                                             |   |                         |       |                         |   |   |   |
| Preferred                stock, $0.01 par value, 20,000,000 shares authorized;                0 and 1 share issued and outstanding, respectively                                 |   |                         | -          |                         |   | - |   |
| Common                stock, $0.01 par value, 100,000,000 shares authorized; 35,967,715                and                33,229,085 shares issued and outstanding, respectively |   |                         | 359,677    |                         |   | 332,291 |   |
| Additional                paid-in capital                                                                                                                                        |   |                         | 7,518,815  |                         |   | 6,246,963 |   |
| Stock                options and warrants                                                                                                                                        |   |                         | 974,268    |                         |   | 1,383,042 |   |
| Pre-exploration                stage accumulated deficit                                                                                                                         |   |                         | (558,504   | )                            |   | (558,504 | ) |
| Accumulated                deficit during exploration stage                                                                                                                      |   |                         | (9,716,248 | )                            |   | (8,723,560 | ) |
| Other                comprehensive income                                                                                                                                        |   |                         | -          |                         |   | 1,800 |   |
| TOTAL                STOCKHOLDERS' DEFICIT                                                                                                                                       |   |                         | (1,421,992 | )                            |   | (1,317,968 | ) |
| **TOTAL                LIABILITIES AND ****STOCKHOLDERS'                DEFICIT**                                                                                           |   | $                            | 17,892     |                         | $      | 65,030 |   |

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**TREND      MINING COMPANY**

**(An      Exploration Stage Company)**

**STATEMENTS      OF OPERATIONS AND COMPREHENSIVE LOSS**

|                                                                               |   | Year                Ended September                30, 2004 |       | Year                Ended September                30, |   | Period                from October                1, 1996 (Inception of Exploration Stage) to                September 30, 2004 |   |
|------------------------------------------------------------------------------------|--------|-------------------------------------------------------------|------------|--------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                               |   | Restated                                                    |       | 2003                                                   |   | Restated                                                                                                                        |   |
|                                                                               |   |                                                        |       |                                                   |   |                                                                                                                            |   |
| REVENUES                                                                           |   | $                                                           | -          |                                                   | $      | -                                                                                                                               |   | $ | - |   |
| EXPENSES                                                                           |   |                                                        |       |                                                   |   |                                                                                                                            |   |   |   |   |
| Exploration                expense                                                 |   |                                                        | 19,809     |                                                   |   | 144,279                                                                                                                         |   |   | 2,928,875 |   |
| General                and administrative                                          |   |                                                        | 314,159    |                                                   |   | 468,098                                                                                                                         |   |   | 2,578,148 |   |
| Officers                and directors compensation                                 |   |                                                        | 273,794    |                                                   |   | 143,256                                                                                                                         |   |   | 1,659,190 |   |
| Legal                and professional                                              |   |                                                        | 268,101    |                                                   |   | 48,506                                                                                                                          |   |   | 1,405,879 |   |
| Depreciation                                                                       |   |                                                        | 2,900      |                                                   |   | 10,590                                                                                                                          |   |   | 51,876 |   |
| Total                Expenses                                                      |   |                                                        | 878,763    |                                                   |   | 814,728                                                                                                                         |   |   | 8,623,968 |   |
| OPERATING                LOSS                                                      |   |                                                        | (878,763   | )                                                      |   | (814,728                                                                                                                        | )      |   | (8,623,968 | ) |
| OTHER                INCOME (EXPENSE)                                              |   |                                                        |       |                                                   |   |                                                                                                                            |   |   |   |   |
| Dividend                and interest income                                        |   |                                                        | -          |                                                   |   | -                                                                                                                               |   |   | 6,398 |   |
| Gain                (loss) on disposition and impairment of assets                 |   |                                                        | -          |                                                   |   | 2,335                                                                                                                           |   |   | (177,519 | ) |
| Gain                (loss) on investment sales                                     |   |                                                        | (40,733    | )                                                      |   | 30,692                                                                                                                          |   |   | (63,813 | ) |
| Financing                expense                                                   |   |                                                        | -          |                                                   |   | (223,600                                                                                                                        | )      |   | (1,135,113 | ) |
| Interest                expense                                                    |   |                                                        | (92,322    | )                                                      |   | (84,010                                                                                                                         | )      |   | (316,136 | ) |
| Other                income                                                        |   |                                                        | 16,412     |                                                   |   | -                                                                                                                               |   |   | 26,757 |   |
| Forgiveness                of debt                                                 |   |                                                        | 2,718      |                                                   |   | 122,354                                                                                                                         |   |   | 567,146 |   |
| Total                Other Income (Expense)                                        |   |                                                        | (113,925   | )                                                      |   | (152,229                                                                                                                        | )      |   | (1,092,280 | ) |
| LOSS                BEFORE INCOME TAXES                                            |   |                                                        | (992,688   | )                                                      |   | (966,957                                                                                                                        | )      |   | (9,716,248 | ) |
| INCOME                TAXES                                                        |   |                                                        | -          |                                                   |   | -                                                                                                                               |   |   | - |   |
| NET                LOSS                                                            |   |                                                        | (992,688   | )                                                      |   | (966,958                                                                                                                        | )      |   | (9,716,248 | ) |
| OTHER                COMPREHENSIVE INCOME                                          |   |                                                        |       |                                                   |   |                                                                                                                            |   |   |   |   |
| Change                in market value of investments                               |   |                                                        | -          |                                                   |   | 1,800                                                                                                                           |   |   | 1,800 |   |
| NET                COMPREHENSIVE LOSS                                              |   | $                                                           | (992,688   | )                                                      | $      | (965,158                                                                                                                        | )      | $ | (9,714,448 | ) |
| BASIC                AND DILUTED NET LOSS PER SHARE                                |   | $                                                           | (0.03      | )                                                      | $      | (0.03                                                                                                                           | )      |   |   |   |
| WEIGHTED                AVERAGE NUMBER OF COMMON                SHARES OUTSTANDING |   |                                                        | 34,187,607 |                                                   |   | 28,928,582                                                                                                                      |   |   |   |   |

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**TREND      MINING COMPANY**

**(An      Exploration Stage Company)**

**STATEMENT      OF STOCKHOLDERS’ EQUITY (DEFICIT)**

|                                                                                             |   | Common                  Stock |      | Additional |   | Stock   |   |                         |      | Other       |   |                           |   |
|--------------------------------------------------------------------------------------------------|--------|-------------------------------|-----------|------------|--------|---------|--------|------------------------------|-----------|-------------|--------|--------------------------------|--------|
|                                                                                             |   | Number                        |      |       |   | Paid-in |   | Options                  and |      | Accumulated |   | Comprehensive                  |   |   |   |
|                                                                                             |   | of                  Shares    |      | Amount     |   | Capital |   | Warrants                     |      | Deficit     |   | Income                  (Loss) |   | Total |   |
| Balance,                  October 1, 1996                                                        |   |                          | 1,754,242 |       | $      | 17,542  |   | $                            | 663,218   |        | $      | -                              |   | $ | (558,504 | ) | $ | - |   | $ | 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 at $0.30 per share                          |   |                          | 9,210     |       |   | 92      |   |                         | 2,671     |        |   | -                              |   |   | - |   |   | - |   |   | 2,763 |   |
| -                  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 |   |

----

**TREND          MINING COMPANY**

**(An          Exploration Stage Company)**

**STATEMENT          OF STOCKHOLDERS’ EQUITY (DEFICIT) (Continued)**

|   |   |                            |   |       |   |  Stock |   |     |   |        |   |                             |   |
|--------|--------|---------------------------------|--------|------------|--------|-------------|--------|----------|--------|-------------|--------|----------------------------------|--------|
|   |   | Common                    Stock |   | Additional |   | Options     |   |     |   | Other       |   |                             |   |
|   |   | Number                          |   |       |   | Paid-in     |   | and      |   | Accumulated |   | Comprehensive                    |   |   |   |
|   |   | of                    Shares    |   | Amount     |   | Capital     |   | Warrants |   | Deficit     |   | Income                    (Loss) |   | Total |   |

| Balance,                  September 30, 1999                                                                                             |   |   | 5,345,511  |   | $      | 53,454  |   | $      | 1,452,007 |   | $      | 2,659   |   | $      | (1,523,040 | )      | $      | 37,901  |   | $      | 22,982     |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------|--------|--------|-----------|--------|--------|---------|--------|--------|------------|--------|--------|---------|--------|--------|------------|--------|
| 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  |   |   | -          |   |   | -       |   |   | 158,580    |   |
| -                  for officers' and directors' compensation at an average of $1.19                  per                  share          |   |   | 11,500     |   |   | 115     |   |   | 13,615    |   |   | -       |   |   | -          |   |   | -       |   |   | 13,730     |   |
| -                  for services at an average of $0.47 per share                                                                         |   |   | 530,177    |   |   | 5,302   |   |   | 246,333   |   |   | -       |   |   | -          |   |   | -       |   |   | 251,635    |   |
| -                  for mineral property at $0.89 per share                                                                               |   |   | 1,000,000  |   |   | 1,000   |   |   | 88,000    |   |   | -       |   |   | -          |   |   | -       |   |   | 89,000     |   |
| -                  for investments at $0.33 per share                                                                                    |   |   | 200,000    |   |   | 2,000   |   |   | 64,000    |   |   | -       |   |   | -          |   |   | -       |   |   | 66,000     |   |
| -                  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    |   |   | -       |   |   | -          |   |   | -       |   |   | 21,544     |   |
| -                  for deferred mineral property acquisition costs at $0.13 per                  share                                   |   |   | 129,938    |   |   | 1,299   |   |   | 14,943    |   |   | -       |   |   | -          |   |   | -       |   |   | 16,242     |   |
| -                  for modification of stockholder agreement at $0.60 per                  share                                         |   |   | 200,000    |   |   | 2,000   |   |   | 118,000   |   |   | 30,000  |   |   | -          |   |   | -       |   |   | 150,000    |   |
| -                  for modification of stockholder agreement                                                                             |   |   | -          |   |   | -       |   |   | 4,262     |   |   | 10,379  |   |   | -          |   |   | -       |   |   | 14,641     |   |
| -from                  exercise of options at $0.12 per share                                                                            |   |   | 9,962,762  |   |   | 99,628  |   |   | 1,103,016 |   |   | (37,524 | )      |   | -          |   |   | -       |   |   | 1,165,120  |   |
| Cash                  received for the issuance of common stock warrants for 7,979,761                  shares of                  stock |   |   | -          |   |   | -       |   |   | -         |   |   | 10,000  |   |   | -          |   |   | -       |   |   | 10,000     |   |
| Miscellaneous                  common stock adjustments                                                                                  |   |   | (5         | )      |   | -       |   |   | -         |   |   | -       |   |   | -          |   |   | -       |   |   | -          |   |
|                                                                                                                                     |   |   |       |   |   |    |   |   |      |   |   |    |   |   |       |   |   |    |   |   |       |   |
| Net                  loss for the year ended September 30, 2000                                                                          |   |   | -          |   |   | -       |   |   | -         |   |   | -       |   |   | (2,186,541 | )      |   | -       |   |   | (2,186,541 | )      |
|                                                                                                                                     |   |   |       |   |   |    |   |   |      |   |   |    |   |   |       |   |   |    |   |   |       |   |
| Other                  comprehensive income (loss)                                                                                       |   |   | -          |   |   | -       |   |   | -         |   |   | -       |   |   | -          |   |   | (38,314 | )      |   | (38,314    | )      |
|                                                                                                                                     |   |   |       |   |   |    |   |   |      |   |   |    |   |   |       |   |   |    |   |   |       |   |
| Balance,                  September 30, 2000                                                                                             |   |   | 18,232,776 |   | $      | 182,327 |   | $      | 3,296,896 |   | $      | 118,920 |   | $      | (3,709,581 | )      | $      | (413    | )      | $      | (111,850   | )      |

----

**TREND        MINING COMPANY**

**(An        Exploration Stage Company)**

**STATEMENT        OF STOCKHOLDERS’ EQUITY (DEFICIT) (Continued)**

|   |   |                              |   |       |   |  Stock |   |     |   |        |   |                               |   |
|--------|--------|-----------------------------------|--------|------------|--------|-------------|--------|----------|--------|-------------|--------|------------------------------------|--------|
|   |   | Common                      Stock |   | Additional |   | Options     |   |     |   | Other       |   |                               |   |
|   |   | Number                            |   |       |   | Paid-in     |   | and      |   | Accumulated |   | Comprehensive                      |   |   |   |
|   |   | of                      Shares    |   | Amount     |   | Capital     |   | Warrants |   | Deficit     |   | Income                      (Loss) |   | Total |   |

|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
|-------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------|--------|--------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|--------|--------|--------|------------|--------|
| Balance,                  September 30, 2000                                                          |   |   | 18,232,776 |   | $      | 182,327 |   | $      | 3,296,896 |   | $      | 118,920   |   | $      | (3,709,581 | )      | $      | (413   | )      | $      | (111,850   | )      |
|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Common                  stock and option issuances as follows:                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| -                  for cash of $1.00 per share                                                        |   |   | 192,000    |   |   | 1,920   |   |   | 190,080   |   |   | -         |   |   | -          |   |   | -      |   |   | 192,000    |   |
| -                  for cash and consulting services from options for $0.39 per                  share |   |   | 33,333     |   |   | 333     |   |   | 12,737    |   |   | (3,070    | )      |   | -          |   |   | -      |   |   | 10,000     |   |
| -                  for services at an average of $0.92 per share                                      |   |   | 13,700     |   |   | 137     |   |   | 12,463    |   |   | -         |   |   | -          |   |   | -      |   |   | 12,600     |   |
| -                  for officer and employee compensation at $1.13 per share                           |   |   | 5,200      |   |   | 52      |   |   | 5,828     |   |   | -         |   |   | -          |   |   | -      |   |   | 5,880      |   |
| -                  for payment of accrued officer's compensation at $1.35 per                  share  |   |   | 10,000     |   |   | 100     |   |   | 13,400    |   |   | -         |   |   | -          |   |   | -      |   |   | 13,500     |   |
| -                  for consulting services at an ave of $0.77 per share                               |   |   | 45,461     |   |   | 455     |   |   | 34,247    |   |   | -         |   |   | -          |   |   | -      |   |   | 34,702     |   |
| -                  for directors' compensation at $0.85 per share                                     |   |   | 75,000     |   |   | 750     |   |   | 63,000    |   |   | -         |   |   | -          |   |   | -      |   |   | 63,750     |   |
| -                  for modification of contract at $0.78 per share                                    |   |   | 3,000      |   |   | 30      |   |   | 2,310     |   |   | -         |   |   | -          |   |   | -      |   |   | 2,340      |   |
| -                  for interest payment on contract at an average of $0.80 per                  share |   |   | 10,000     |   |   | 100     |   |   | 7,900     |   |   | -         |   |   | -          |   |   | -      |   |   | 8,000      |   |
| -                  for mineral property expenses at $0.85 per share                                   |   |   | 1,000      |   |   | 10      |   |   | 840       |   |   | -         |   |   | -          |   |   | -      |   |   | 850        |   |
| -                  for debt at $1.00 per share                                                        |   |   | 134,500    |   |   | 1,345   |   |   | 133,155   |   |   | -         |   |   | -          |   |   | -      |   |   | 134,500    |   |
|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Options                  issued to officers, directors and employees for services                     |   |   | -          |   |   | -       |   |   | -         |   |   | 354,000   |   |   | -          |   |   | -      |   |   | 354,000    |   |
|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Warrants                  issued as follows:                                                          |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| -                  for consulting services                                                            |   |   | -          |   |   | -       |   |   | -         |   |   | 170,521   |   |   | -          |   |   | -      |   |   | 170,521    |   |
| -                  for loan agreements                                                                |   |   | -          |   |   | -       |   |   | -         |   |   | 141,547   |   |   | -          |   |   | -      |   |   | 141,547    |   |
| -                  for extension of exercise period on outstanding warrants                           |   |   | -          |   |   | -       |   |   | -         |   |   | 608,058   |   |   | -          |   |   | -      |   |   | 608,058    |   |
|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Net                  loss for the year ended September 30, 2001                                       |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | (3,437,354 | )      |   | -      |   |   | (3,437,354 | )      |
|                                                                                                  |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Other                  comprehensive income                                                           |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | -          |   |   | 413    |   |   | 413        |   |
| Balance,                  September 30, 2001                                                          |   |   | 18,755,970 |   | $      | 187,559 |   | $      | 3,772,856 |   | $      | 1,389,976 |   | $      | (7,146,935 | )      | $      | -      |   | $      | (1,796,543 | )      |

----

**TREND          MINING COMPANY**

**(An          Exploration Stage Company)**

**STATEMENT          OF STOCKHOLDERS’ EQUITY (DEFICIT) (Continued)**

|   |   |                            |   |       |   |  Stock |   |     |   |        |   |                             |   |
|--------|--------|---------------------------------|--------|------------|--------|-------------|--------|----------|--------|-------------|--------|----------------------------------|--------|
|   |   | Common                    Stock |   | Additional |   | Options     |   |     |   | Other       |   |                             |   |
|   |   | Number                          |   |       |   | Paid-in     |   | and      |   | Accumulated |   | Comprehensive                    |   |   |   |
|   |   | of                    Shares    |   | Amount     |   | Capital     |   | Warrants |   | Deficit     |   | Income                    (Loss) |   | Total |   |

|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
|-----------------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------|--------|--------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|--------|--------|--------|------------|--------|
| Balance,                  September 30, 2001                                      |   |   | 18,755,970 |   | $      | 187,559 |   | $      | 3,772,856 |   | $      | 1,389,976 |   | $      | (7,146,935 | )      | $      | -      |   | $      | (1,796,543 | )      |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Common                  stock issuances as follows:                               |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| -                  for cash at $0.10 per share                                    |   |   | 2,500,000  |   |   | 25,000  |   |   | 225,000   |   |   | -         |   |   | -          |   |   | -      |   |   | 250,000    |   |
| -                  for a note payable at $1.00 per share                          |   |   | 25,000     |   |   | 250     |   |   | 24,750    |   |   | -         |   |   | -          |   |   | -      |   |   | 25,000     |   |
| -                  for consulting fees payable at $0.55 per share                 |   |   | 12,536     |   |   | 126     |   |   | 6,769     |   |   | -         |   |   | -          |   |   | -      |   |   | 6,895      |   |
| -                  for mineral properties at $0.70 per share                      |   |   | 1,100,000  |   |   | 11,000  |   |   | 759,000   |   |   | -         |   |   | -          |   |   | -      |   |   | 770,000    |   |
| -                  for services at an average of $0.49 per share                  |   |   | 112,500    |   |   | 1,125   |   |   | 53,625    |   |   | -         |   |   | -          |   |   | -      |   |   | 54,750     |   |
| -                  for financing expense at an average of $0.44 per share         |   |   | 82,429     |   |   | 824     |   |   | 35,369    |   |   | -         |   |   | -          |   |   | -      |   |   | 36,193     |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Options                  issued to officers, directors and employees for services |   |   | -          |   |   | -       |   |   | -         |   |   | 29,528    |   |   | -          |   |   | -      |   |   | 29,528     |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Warrants                  issued as follows:                                      |   |   | -          |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| -                  for loan agreements                                            |   |   | -          |   |   | -       |   |   | -         |   |   | 55,352    |   |   | -          |   |   | -      |   |   | 55,352     |   |
| Expiration                  of stock options and warrants                         |   |   | -          |   |   | -       |   |   | 91,814    |   |   | (91,814   | )      |   | -          |   |   | -      |   |   | -          |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Interest                  expense forgiven by shareholders                        |   |   | -          |   |   | -       |   |   | 42,950    |   |   | -         |   |   | -          |   |   | -      |   |   | 42,950     |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Net                  loss for the year ended September 30, 2002                   |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | (1,168,171 | )      |   | -      |   |   | (1,168,171 | )      |
| Balance,                  September 30, 2002                                      |   |   | 22,588,435 |   |   | 225,884 |   |   | 5,012,133 |   |   | 1,383,042 |   |   | (8,315,106 | )      |   | -      |   |   | (1,694,046 | )      |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Common                  stock issuances as follows:                               |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| -                  miscellaneous common stock adjustment                          |   |   | 29,555     |   |   | 296     |   |   | -         |   |   | -         |   |   | -          |   |   | -      |   |   | 296        |   |
| -                  for cash at $0.10 per share                                    |   |   | 5,500,000  |   |   | 55,000  |   |   | 495,000   |   |   | -         |   |   | -          |   |   | -      |   |   | 550,000    |   |
| -                  for consulting services at an average of $0.15 per share       |   |   | 1,763,779  |   |   | 17,638  |   |   | 243,362   |   |   | -         |   |   | -          |   |   | -      |   |   | 261,000    |   |
| -                  for loans payable at an average of $0.10 per share             |   |   | 369,160    |   |   | 3,692   |   |   | 33,225    |   |   | -         |   |   | -          |   |   | -      |   |   | 36,917     |   |
| -                  for prior period services at an average of $.13 per share      |   |   | 245,000    |   |   | 2,450   |   |   | 30,550    |   |   | -         |   |   | -          |   |   | -      |   |   | 33,000     |   |
| -                  for investments at $0.21 per share                             |   |   | 450,000    |   |   | 4,500   |   |   | 88,668    |   |   | -         |   |   | -          |   |   | -      |   |   | 93,168     |   |
| -                  to officers and directors for services at $.10 per share       |   |   | 1,423,156  |   |   | 14,232  |   |   | 129,024   |   |   | -         |   |   | -          |   |   | -      |   |   | 143,256    |   |
| -                  penalty shares at $.26 per share                               |   |   | 860,000    |   |   | 8,600   |   |   | 215,000   |   |   | -         |   |   | -          |   |   | -      |   |   | 223,600    |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Change                  in market value of investments                            |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | -          |   |   | 1,800  |   |   | 1,800      |   |
|                                                                              |   |   |       |   |   |    |   |   |      |   |   |      |   |   |       |   |   |   |   |   |       |   |
| Net                  loss for the year ended September 30, 2003                   |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | (966,958   | )      |   | -      |   |   | (966,958   | )      |
| Balance,                  September 30, 2003                                      |   |   | 33,229,085 |   | $      | 332,291 |   | $      | 6,246,963 |   | $      | 1,383,042 |   | $      | (9,282,064 | )      | $      | 1,800  |   | $      | (1,317,968 | )      |

----

**TREND          MINING COMPANY**

**(An          Exploration Stage Company)**

**STATEMENT          OF STOCKHOLDERS’ EQUITY (DEFICIT) (Continued)**

|   |   |                            |   |       |   |  Stock |   |     |   |        |   |                             |   |
|--------|--------|---------------------------------|--------|------------|--------|-------------|--------|----------|--------|-------------|--------|----------------------------------|--------|
|   |   | Common                    Stock |   | Additional |   | Options     |   |     |   | Other       |   |                             |   |
|   |   | Number                          |   |       |   | Paid-in     |   | and      |   | Accumulated |   | Comprehensive                    |   |   |   |
|   |   | of                    Shares    |   | Amount     |   | Capital     |   | Warrants |   | Deficit     |   | Income                    (Loss) |   | Total |   |

|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
|-----------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------|--------|--------|-----------|--------|--------|-----------|--------|--------|-------------|--------|--------|--------|--------|--------|------------|--------|
| Balance,                  September 30, 2003                                |   |   | 33,229,085 |   | $      | 332,291 |   | $      | 6,246,963 |   | $      | 1,383,042 |   | $      | (9,282,064  | )      | $      | 1,800  |   | $      | (1,317,968 | )      |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Common                  stock issuances as follows:                         |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| -                  for cash at $0.20 per share                              |   |   | 1,675,000  |   |   | 16,750  |   |   | 318,250   |   |   | -         |   |   | -           |   |   | -      |   |   | 335,000    |   |
| -                  for consulting services at an average of $0.35 per share |   |   | 162,500    |   |   | 1,625   |   |   | 54,800    |   |   | -         |   |   | -           |   |   | -      |   |   | 56,425     |   |
| -                  for accounts payable at an average of $.24 per share     |   |   | 626,130    |   |   | 6,261   |   |   | 144,584   |   |   | -         |   |   | -           |   |   | -      |   |   | 150,845    |   |
| -                  for investments at $0.20 per share                       |   |   | 125,000    |   |   | 1,250   |   |   | 23,750    |   |   | -         |   |   | -           |   |   | -      |   |   | 25,000     |   |
| -                  to officers and directors for services at $.12 per share |   |   | 150,000    |   |   | 1,500   |   |   | 16,500    |   |   | -         |   |   | -           |   |   | -      |   |   | 18,000     |   |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Expired                  options & warrants                             |   |   | -          |   |   | -       |   |   | 503,774   |   |   | (503,774  | )      |   | -           |   |   | -      |   |   | -          |   |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Options                  issued to officers and directors for services      |   |   | -          |   |   | -       |   |   | -         |   |   | 95,000    |   |   | -           |   |   | -      |   |   | 95,000     |   |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Gain                  on sale of internal securities                        |   |   | -          |   |   | -       |   |   | 210,194   |   |   | -         |   |   | -           |   |   | -      |   |   | 210,194    |   |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Change                  in market value of investments                      |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | -           |   |   | (1,800 | )      |   | (1,800     | )      |
|                                                                        |   |   |       |   |   |    |   |   |      |   |   |      |   |   |        |   |   |   |   |   |       |   |
| Net                  loss for the year ended September 30, 2004 (restated)  |   |   | -          |   |   | -       |   |   | -         |   |   | -         |   |   | (992,688    | )      |   | -      |   |   | (992,688   | )      |
| Balance,                  September 30, 2004, (restated)                    |   |   | 35,967,715 |   | $      | 359,677 |   | $      | 7,518,815 |   | $      | 974,268   |   | $      | (10,274,752 | )      | $      | -      |   | $      | (1,421,992 | )      |

----

**TREND      MINING COMPANY**

**(An      Exploration Stage Company)**

**STATEMENTS      OF CASH FLOWS**

|                                                                                                          |   | Year                  EndedSeptember                  30,2004 |     | Year                  EndedSeptember                  30, |   | Period                  fromOctober                  1, 1996(Inception                  ofExploration                  Stage)toSeptember                  30,2004 |   |
|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------|----------|-----------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                          |   | Restated                                                      |     | 2003                                                      |   | Restated                                                                                                                                                          |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES:                                                        |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |
| Net                  loss                                                                                     |   | $                                                             | (992,688 | )                                                         | $      | (966,958                                                                                                                                                          | )      | $ | (9,716,248 | ) |
| Adjustments                  to reconcile net loss to net cash used by operating                  activities: |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| Depreciation                                                                                                  |   |                                                          | 2,900    |                                                      |   | 10,590                                                                                                                                                            |   |   | 51,876 |   |
| Loss                  (Gain) on investment sales                                                              |   |                                                          | 40,733   |                                                      |   | (30,692                                                                                                                                                           | )      |   | 68,969 |   |
| Loss                  (Gain) on disposition and impairment of assets                                          |   |                                                          | -        |                                                      |   | (2,335                                                                                                                                                            | )      |   | 185,891 |   |
| Gain                  on sale of mineral property claims for securities                                       |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | (500 | ) |
| Gain                  on trade-in of property and equipment                                                   |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | (7,872 | ) |
| Gain                  on settlement of vendor account                                                         |   |                                                          | (16,412  | )                                                         |   | (122,354                                                                                                                                                          | )      |   | (138,766 | ) |
| Interest                  expense forgiven by related parties                                                 |   |                                                          | (2,718   | )                                                         |   | -                                                                                                                                                                 |   |   | 20,848 |   |
| Common                    stock issued for services and expenses                                              |   |                                                          | 56,425   |                                                      |   | 294,000                                                                                                                                                           |   |   | 983,974 |   |
| Common                  stock issued for payables and accrued expenses                                        |   |                                                          | 150,845  |                                                      |   | 36,917                                                                                                                                                            |   |   | 219,656 |   |
| Common                  stock and options issued as compensation                                              |   |                                                          | 113,000  |                                                      |   | 143,256                                                                                                                                                           |   |   | 977,375 |   |
| Stock                  options and warrants issued for financing activities                                   |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 822,257 |   |
| Common                  stock issued for investments                                                          |   |                                                          | -        |                                                      |   | 93,168                                                                                                                                                            |   |   | 93,168 |   |
| Common                  stock and warrants issued to acquire mineral property                  options        |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 1,114,873 |   |
| Warrants                  issued for consulting fees                                                          |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 170,521 |   |
| Common                  stock issued for incentive fees                                                       |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 21,544 |   |
| Investment                  traded for services                                                               |   |                                                          | -        |                                                      |   | 23,400                                                                                                                                                            |   |   | 45,939 |   |
| Changes                  in assets and liabilities:                                                           |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| Prepaid                  expenses & inventory                                                             |   |                                                          | (2,948   | )                                                         |   | -                                                                                                                                                                 |   |   | 857 |   |
| Accounts                  payable                                                                             |   |                                                          | 75,679   |                                                      |   | (345,535                                                                                                                                                          | )      |   | 315,459 |   |
| Accounts                  payable - checks in excess of bank balance                                          |   |                                                          | (3,297   | )                                                         |   | 3,304                                                                                                                                                             |   |   | 7 |   |
| Accrued                  expenses                                                                             |   |                                                          | 75,780   |                                                      |   | (100,542                                                                                                                                                          | )      |   | 1,595 |   |
| Interest                  payable                                                                             |   |                                                          | (7,026   | )                                                         |   | 83,374                                                                                                                                                            |   |   | 99,503 |   |
| Net                  cash used by operating activities                                                        |   |                                                          | (509,727 | )                                                         |   | (880,407                                                                                                                                                          | )      |   | (4,669,074 | ) |
|                                                                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES:                                                        |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| Proceeds                  from sale of equipment                                                              |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 35,126 |   |
| Purchase                  of fixed assets                                                                     |   |                                                          | (4,358   | )                                                         |   | -                                                                                                                                                                 |   |   | (4,358 | ) |
| Proceeds                  from sale of mineral property                                                       |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 20,000 |   |
| Purchase                  of furniture and equipment                                                          |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | (41,695 | ) |
| Proceeds                  from investments sold                                                               |   |                                                          | 39,646   |                                                      |   | 42,084                                                                                                                                                            |   |   | 183,161 |   |
| Net                  cash provided (used) by investing activities                                             |   |                                                          | 35,288   |                                                      |   | 42,084                                                                                                                                                            |   |   | 192,234 |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES:                                                        |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| Payments                  on notes payable and short-term borrowings                                          |   |                                                          | (112,500 | )                                                         |   | (3,300                                                                                                                                                            | )      |   | (124,556 | ) |
| Proceeds                  from internal securities sale                                                       |   |                                                          | 210,194  |                                                      |   | -                                                                                                                                                                 |   |   | 210,194 |   |
| Sale                  of warrants for common stock                                                            |   |                                                          | -        |                                                      |   | -                                                                                                                                                                 |   |   | 10,000 |   |
| Proceeds                  from short-term borrowings                                                          |   |                                                          | 47,500   |                                                      |   | 68,300                                                                                                                                                            |   |   | 1,469,157 |   |
| Sale                  of common stock, subscriptions                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| and                  exercise of options                                                                      |   |                                                          | 335,000  |                                                      |   | 550,000                                                                                                                                                           |   |   | 2,693,151 |   |
| Issuance                  of penalty shares                                                                   |   |                                                          | -        |                                                      |   | 223,600                                                                                                                                                           |   |   | 223,600 |   |
| Net                  cash provided by financing activities                                                    |   |                                                          | 480,194  |                                                      |   | 838,600                                                                                                                                                           |   |   | 4,481,546 |   |
|                                                                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| NET                  INCREASE (DECREASE) IN CASH                                                              |   |                                                          | 5,755    |                                                      |   | 277                                                                                                                                                               |   |   | 4,706 |   |
|                                                                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| CASH,                  BEGINNING OF PERIOD                                                                    |   |                                                          | 2,558    |                                                      |   | 2,281                                                                                                                                                             |   |   | 3,607 |   |
|                                                                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |
| CASH,                  END OF PERIOD                                                                          |   | $                                                             | 8,313    |                                                      | $      | 2,558                                                                                                                                                             |   | $ | 8,313 |   |
|                                                                                                          |   |                                                          |     |                                                      |   |                                                                                                                                                              |   |   |   |   |

----

**TREND          MINING COMPANY**
**(An            Exploration Stage Company)**

**STATEMENTS            OF CASH FLOWS (Continued)**

|   |   | Year                    EndedSeptember                    30,2004 |   | Year                    EndedSeptember                    30, |   | Period                    fromOctober                    1, 1996(Inception                    ofExploration                    Stage)toSeptember                    30,2004 |   |
|--------|--------|-------------------------------------------------------------------|--------|---------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |   | Restated                                                          |   | 2003                                                          |   | Restated                                                                                                                                                                    |   |

| SUPPLEMENTAL                  CASH FLOW INFORMATION:                            |   |   |    |   |   |    |   |   |    |   |
|---------------------------------------------------------------------------------|--------|--------|---------|--------|--------|---------|--------|--------|---------|--------|
| Interest                  paid                                                  |   | $      | 95,194  |   | $      | -       |   | $      | 98,706  |   |
| Income                  taxes paid                                              |   | $      | -       |   | $      | -       |   | $      | -       |   |
|                                                                            |   |   |    |   |   |    |   |   |    |   |
| NON-CASH                  FINANCING AND INVESTING ACTIVITIES:                   |   |   |    |   |   |    |   |   |    |   |
| Common                  stock and warrants issued to acquire mineral properties |   | $      | -       |   | $      | -       |   | $      | 344,873 |   |
| Common                  stock issued to acquire mineral property                |   | $      | -       |   | $      | -       |   | $      | 845,000 |   |
| Common                    stock issued for acquisition of mining equipment      |   | $      | -       |   | $      | -       |   | $      | 180,000 |   |
| Common                  stock issued for services and expenses                  |   | $      | 56,425  |   | $      | 294,000 |   | $      | 983,974 |   |
| Common                  stock issued for investment                             |   | $      | 25,000  |   | $      | 93,168  |   | $      | 185,168 |   |
| Common                  stock issued for payables and accrued expenses          |   | $      | 150,845 |   | $      | 36,917  |   | $      | 219,656 |   |
| Common                  stock issued for incentive fees                         |   | $      | -       |   | $      | -       |   | $      | 21,544  |   |
| Common                  stock and options issued as compensation                |   | $      | 113,000 |   | $      | 143,256 |   | $      | 977,375 |   |
| Stock                  options and warrants issued for financing activities     |   | $      | -       |   | $      | -       |   | $      | 822,257 |   |
| Warrants                  issued for consulting fees                            |   | $      | -       |   | $      | -       |   | $      | 170,521 |   |
| Deferred                  acquisition costs on mining property                  |   | $      | -       |   | $      | -       |   | $      | 46,242  |   |
| Purchase                  of equipment with financing agreement                 |   | $      | -       |   | $      | -       |   | $      | 21,814  |   |
| Investments                  received for mineral property                      |   | $      | -       |   | $      | -       |   | $      | 5,500   |   |
| Investments                  traded for services                                |   | $      | -       |   | $      | 23,400  |   | $      | 45,939  |   |
| Equipment                  for loans payable                                    |   | $      | -       |   | $      | -       |   | $      | 4,500   |   |

----

**TREND      MINING COMPANY**

**(AN      EXPLORATION STAGE COMPANY)**

**NOTES      TO THE FINANCIAL STATEMENTS **

**SEPTEMBER      30, 2004**

**NOTE        1 -  **
**ORGANIZATION        AND DESCRIPTION OF BUSINESS**

**NOTE        2 -  **
**SUMMARY        OF SIGNIFICANT ACCOUNTING POLICIES**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      2 -**
**SUMMARY      OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE        2 -**
**SUMMARY        OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      2 -**
**SUMMARY      OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

----

**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**NOTES          TO THE FINANCIAL STATEMENTS **

**SEPTEMBER          30, 2004**

**NOTE      2 - SUMMARY OF SIGNIFICANT ACCOUNTING      POLICIES (Continued)**

*Inventory      Costs— an amendment of ARB No. 43, Chapter 4*

----

**TREND            MINING COMPANY**

**(AN            EXPLORATION STAGE COMPANY)**

**NOTES            TO THE FINANCIAL STATEMENTS **

**SEPTEMBER            30, 2004**

**NOTE      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

----

**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**NOTES          TO THE FINANCIAL STATEMENTS **

**SEPTEMBER          30, 2004**

**NOTE      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

|                                                                                                      |   | September                30, 2004 |       |  September                30, 2003 |   |
|-----------------------------------------------------------------------------------------------------------|--------|-----------------------------------|------------|-----------------------------------------|--------|
| Net                operating losses                                                                       |   | $                                 | 8,130,000  |                                    | $      | 7,140,000 |   |
| Nondeductible                stock options and warrants issued under a non-qualified                plan: |   |                              | 2,320,000  |                                    |   | 2,320,000 |   |
| Net                operating loss carryforward                                                            |   | $                                 | 5,810,000  |                                    | $      | 4,820,000 |   |
|                                                                                                      |   |                              |       |                                    |   |   |   |
| Deferred                tax asset                                                                         |   | $                                 | 1,743,000  |                                    | $      | 1,450,000 |   |
| Deferred                tax asset valuation allowance                                                     |   | $                                 | (1,743,000 | )                                       | $      | (1,450,000 | ) |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**NOTE        3 -  **
**MINERAL        PROPERTIES**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      3 - MINERAL PROPERTIES (Continued)**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE        4 -  **
**CAPITAL        STOCK**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      4 - CAPITAL STOCK (Continued)**

|                                                      |   |  **Issue                Date**  |       |  **Number                of Shares**  |   |  **Price                per Share**  |   |  **Common                Stock Amount**  |   |  **Additional                Paid-in Capital**  |   |  **Total                Amount**  |   |  **Number                of Options**  |          |  **Number                of Warrants**  |   |  **Value                of Options/ Warrants**  |   |
|-----------------------------------------------------------|--------|-------------------------------------------|------------|-------------------------------------------------|--------|------------------------------------------------|--------|----------------------------------------------------|--------|-----------------------------------------------------------|--------|---------------------------------------------|--------|--------------------------------------------------|---------------|---------------------------------------------------|--------|-----------------------------------------------------------|--------|
| **Balance,                October 1, 1996**               |   |                                      |       |                                            |   | **1,754,242**                                  |   | **$**                                              | **-**  |                                                      | **$**  | **17,542**                                  |   | **$**                                            | **663,218**   |                                              | **$**  | **680,760**                                               |   |   |   |   |   |   |   | **$** | **-** |   |
|                                                      |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| 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**                                               |   |   |   |   |   |   |   |   |   |   |
|                                                      |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| 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                                                     |   |   |   |   |   |   |   |   |   |   |
|                                                      |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| **Balance**September**30, 1998**                          |   |                                      |       |                                            |   | **2,258,253**                                  |   |                                               |   |                                                      |   | **22,583**                                  |   |                                             | **907,933**   |                                              |   | **930,516**                                               |   |   | **180,000** |   |   |   |   |   | **2,659** |   |
|                                                      |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| 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**                                             |   |   | **330,000** |   |   |   |   |   | **2,659** |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      4 - CAPITAL STOCK (Continued)**

|   |   |  **Issue                  Date**  |   |  **Number                  of Shares**  |   |  **Price                  per Share**  |   |  **Common                  Stock Amount**  |   |  **Additional                  Paid-in Capital**  |   |  **Total                  Amount**  |   |  **Number                  of Options**  |   |  **Number                  of Warrants**  |   |  **Value                  of Options/ Warrants**  |   |
|--------|--------|---------------------------------------------|--------|---------------------------------------------------|--------|--------------------------------------------------|--------|------------------------------------------------------|--------|-------------------------------------------------------------|--------|-----------------------------------------------|--------|----------------------------------------------------|--------|-----------------------------------------------------|--------|-------------------------------------------------------------|--------|

| **Balance                    September 30, 1999**                     |   |   |       |   |   | **5,345,511** |   | **$**  | **-**  |   | **$**  | **53,455** |   | **$**  | **1,452,009** |   | **$**  | **1,505,464** |   |   | **330,000** |   |   |      |   | **$**  | **2,659** |   |
|----------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------------|--------|--------|--------|--------|--------|------------|--------|--------|---------------|--------|--------|---------------|--------|--------|-------------|--------|--------|-----------|--------|--------|-----------|--------|
|                                                                       |   |   |       |   |   |          |   |   |   |   |   |       |   |   |          |   |   |          |   |   |        |   |   |      |   |   |      |   |
| 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         |   |   |        |   |   |      |   |   |      |   |

| CS                    for Cash from options            |   |   | 09/22/2000 |   |   | 1,200,174      |   |   | 0.122  |   |   | 12,002      |   |   | 134,720       |   |   | 146,722       |   |   | (1,200,174  | )      |   |          |   |   | (8,702      | )      |
|--------------------------------------------------------|--------|--------|------------|--------|--------|----------------|--------|--------|--------|--------|--------|-------------|--------|--------|---------------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------|--------|--------|-------------|--------|
| 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 |   |   |           |   |   |   |   |   |        |   |   |          |   |   |          |   |   |        |   |   |          |   |   | 10,000      |   |
| 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** |   |   | **118,920** |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      4 - CAPITAL STOCK (Continued)**

|                                                               |   |  **Issue                Date**  |       |  **Number                of Shares**  |   |  **Price                per Share**  |   |  **Common                Stock Amount**  |   |  **Additional                Paid-in Capital**  |   |  **Total                Amount**  |   |  **Number                of Options**  |          |  **Number                of Warrants**  |   |  **Value                of Options/ Warrants**  |   |
|--------------------------------------------------------------------|--------|-------------------------------------------|------------|-------------------------------------------------|--------|------------------------------------------------|--------|----------------------------------------------------|--------|-----------------------------------------------------------|--------|---------------------------------------------|--------|--------------------------------------------------|---------------|---------------------------------------------------|--------|-----------------------------------------------------------|--------|
| **Balance                September 30, 2000**                      |   |                                      |       |                                            |   | **18,232,776**                                 |   | **$**                                              | **-**  |                                                      | **$**  | **182,328**                                 |   | **$**                                            | **3,296,897** |                                              | **$**  | **3,479,225**                                             |   |   | **127,833** |   |   | **8,179,761** |   | **$** | **118,920** |   |
|                                                               |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash from options                            |   |                                      | 10/10/2000 |                                            |   | 33,333                                         |   |                                               | 0.39   |                                                      |   | 333                                         |   |                                             | 12,737        |                                              |   | 13,070                                                    |   |   | (33,333 | ) |   |   |   |   | (3,070 | ) |
| 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 |   |   | 123,775 |   |
| 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 |   |   | 46,746 |   |
| 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 |   |   | 76,551 |   |
| 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 |   |   |   |   |   | 354,000 |   |
| WAR                for Loan agreements                             |   |                                      | 03/12/2001 |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   | 50,000 |   |   | 13,430 |   |
| WAR                Extension of exercise period                    |   |                                      | 03/12/2001 |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   | 608,058 |   |
| 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 |   |   | 45,079 |   |
| CS                for Services                                     |   |                                      | 07/31/01   |                                            |   | 40,000                                         |   |                                               | 0.73   |                                                      |   | 400                                         |   |                                             | 28,800        |                                              |   | 29,200                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Interest payments                            |   |                                      | 08/08/01   |                                            |   | 5,000                                          |   |                                               | 0.77   |                                                      |   | 50                                          |   |                                             | 3,800         |                                              |   | 3,850                                                     |   |   |   |   |   |   |   |   |   |   |
| WAR                Attached to note                                |   |                                      | 08/16/01   |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   | 90,000 |   |   | 6,487 |   |
| 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** |   |   | **1,389,976** |   |
|                                                               |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| CS                for Note Payable                                 |   |                                      | 10/08/01   |                                            |   | 25,000                                         |   |                                               | 1.00   |                                                      |   | 250                                         |   |                                             | 24,750        |                                              |   | 25,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Payable                                      |   |                                      | 10/24/01   |                                            |   | 12,536                                         |   |                                               | 0.55   |                                                      |   | 126                                         |   |                                             | 6,769         |                                              |   | 6,895                                                     |   |   |   |   |   |   |   |   |   |   |
| WAR                for Loan agreements                             |   |                                      | 11/01/01   |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   | 129,445 |   |   | 9,876 |   |
| WAR                Cancelled                                       |   |                                      | 11/15/01   |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 2,750         |                                              |   | 2,750                                                     |   |   |   |   |   | (275,000 | ) |   | (2,750 | ) |
| CS                for Financing expense                            |   |                                      | 1/25/02    |                                            |   | 64,429                                         |   |                                               | 0.45   |                                                      |   | 644                                         |   |                                             | 28,349        |                                              |   | 28,993                                                    |   |   |   |   |   |   |   |   |   |   |
| Interest                Expense forgiven by shareholders           |   |                                      | 1/30/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 42,950        |                                              |   | 42,950                                                    |   |   |   |   |   |   |   |   |   |   |
| WAR                Issued                                          |   |                                      | 1/30/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   | 180,000 |   |   | 21,660 |   |
| CS                for Financing expense                            |   |                                      | 2/8/02     |                                            |   | 18,000                                         |   |                                               | 0.40   |                                                      |   | 180                                         |   |                                             | 7,020         |                                              |   | 7,200                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                     |   |                                      | 2/8/02     |                                            |   | 60,000                                         |   |                                               | 0.40   |                                                      |   | 600                                         |   |                                             | 23,400        |                                              |   | 24,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                     |   |                                      | 2/22/02    |                                            |   | 20,000                                         |   |                                               | 0.40   |                                                      |   | 200                                         |   |                                             | 7,800         |                                              |   | 8,000                                                     |   |   |   |   |   |   |   |   |   |   |
| OPT                for Director, officer and employee compensation |   |                                      | 3/12/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   | 307,800 |   |   |   |   |   | 29,528 |   |
| Options                Expired                                     |   |                                      | 3/12/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 59,063        |                                              |   | 59,063                                                    |   |   | (196,863 | ) |   |   |   |   | (59,063 | ) |
| CS                for Mineral properties                           |   |                                      | 3/20/02    |                                            |   | 1,100,000                                      |   |                                               | 0.70   |                                                      |   | 11,000                                      |   |                                             | 759,000       |                                              |   | 770,000                                                   |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                     |   |                                      | 5/12/02    |                                            |   | 32,500                                         |   |                                               | 0.70   |                                                      |   | 325                                         |   |                                             | 22,425        |                                              |   | 22,750                                                    |   |   |   |   |   |   |   |   |   |   |
| WAR                for Loan agreements                             |   |                                      | 6/30/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   | 113,413 |   |   | 23,816 |   |
| WAR                Expired                                         |   |                                      | 6/30/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 30,001        |                                              |   | 30,001                                                    |   |   |   |   |   | (200,000 | ) |   | (30,001 | ) |
| Options                Expired                                     |   |                                      | 7/19/02    |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   | (12,500 | ) |   |   |   |   |   |   |
| CS                for Cash                                         |   |                                      | 9/30/02    |                                            |   | 2,500,000                                      |   |                                               | 0.10   |                                                      |   | 25,000                                      |   |                                             | 225,000       |                                              |   | 250,000                                                   |   |   |   |   |   |   |   |   |   |   |
|                                                               |   |                                      |       |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| **Balance                September 30, 2002**                      |   |                                      |       |                                            |   | **22,588,435**                                 |   |                                               |   |                                                      |   | **225,884**                                 |   |                                             | **5,012,134** |                                              |   | **5,238,018**                                             |   |   | **1,073,237** |   |   | **9,167,619** |   |   | **1,383,042** |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      4 - CAPITAL STOCK (Continued)**

|                                                              |   |  **Issue                Date**  |     |  **Number                of Shares**  |   |  **Price                per Share**  |   |  **Common                Stock Amount**  |   |  **Additional                Paid-in Capital**  |   |  **Total                Amount**  |   |  **Number                of Options**  |          |  **Number                of Warrants**  |   |  **Value                of Options/ Warrants**  |   |
|-------------------------------------------------------------------|--------|-------------------------------------------|----------|-------------------------------------------------|--------|------------------------------------------------|--------|----------------------------------------------------|--------|-----------------------------------------------------------|--------|---------------------------------------------|--------|--------------------------------------------------|---------------|---------------------------------------------------|--------|-----------------------------------------------------------|--------|
| **Balance                September 30, 2002**                     |   |                                      |     |                                            |   | **22,588,435**                                 |   | **$**                                              |   |                                                      | $      | $                225,884                    |   | **$**                                            | **5,012,134** |                                              | **$**  | **5,238,018**                                             |   |   | **1,073,237** |   |   | **9,167,619** |   | **$** | **1,383,042** |   |
|                                                              |   |                                      |     |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| Misc.                Common Stock Adjustment                      |   |                                      | 10/1/02  |                                            |   | 29,555                                         |   |                                               | 0.01   |                                                      |   | 296                                         |   |                                             |          |                                              |   | 296                                                       |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 10/31/02 |                                            |   | 4,550,000                                      |   |                                               | 0.10   |                                                      |   | 45,500                                      |   |                                             | 409,500       |                                              |   | 455,000                                                   |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 10/31/02 |                                            |   | 683,000                                        |   |                                               | 0.12   |                                                      |   | 6,830                                       |   |                                             | 78,490        |                                              |   | 85,320                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 11/12/02 |                                            |   | 600,000                                        |   |                                               | 0.10   |                                                      |   | 6,000                                       |   |                                             | 54,000        |                                              |   | 60,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 12/4/02  |                                            |   | 100,000                                        |   |                                               | 0.10   |                                                      |   | 1,000                                       |   |                                             | 9,000         |                                              |   | 10,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 1/14/03  |                                            |   | 250,000                                        |   |                                               | 0.10   |                                                      |   | 2,500                                       |   |                                             | 22,500        |                                              |   | 25,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Investments                                 |   |                                      | 1/14/03  |                                            |   | 450,000                                        |   |                                               | 0.21   |                                                      |   | 4,500                                       |   |                                             | 88,668        |                                              |   | 93,168                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Note payable                                |   |                                      | 1/14/03  |                                            |   | 369,160                                        |   |                                               | 0.10   |                                                      |   | 3,692                                       |   |                                             | 33,224        |                                              |   | 36,916                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 1/14/03  |                                            |   | 280,687                                        |   |                                               | 0.14   |                                                      |   | 2,807                                       |   |                                             | 35,792        |                                              |   | 38,599                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 4/1/03   |                                            |   | 142,592                                        |   |                                               | 0.21   |                                                      |   | 1,426                                       |   |                                             | 28,574        |                                              |   | 30,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 4/11/03  |                                            |   | 150,000                                        |   |                                               | 0.17   |                                                      |   | 1,500                                       |   |                                             | 24,000        |                                              |   | 25,500                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 9/15/03  |                                            |   | 400,000                                        |   |                                               | 0.14   |                                                      |   | 4,000                                       |   |                                             | 53,841        |                                              |   | 57,841                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Director, officer and employee compensation |   |                                      | 9/15/03  |                                            |   | 1,350,656                                      |   |                                               | 0.10   |                                                      |   | 13,507                                      |   |                                             | 122,149       |                                              |   | 135,656                                                   |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 9/30/03  |                                            |   | 425,000                                        |   |                                               | 0.15   |                                                      |   | 4,250                                       |   |                                             | 60,091        |                                              |   | 64,341                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Financing costs                             |   |                                      | 9/30/03  |                                            |   | 860,000                                        |   |                                               | 0.26   |                                                      |   | 8,600                                       |   |                                             | 215,000       |                                              |   | 223,600                                                   |   |   |   |   |   |   |   |   |   |   |
|                                                              |   |                                      |     |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   |   |   |   |   |   |   |   |   |
| **Balance                September 30, 2003**                     |   |                                      |     |                                            |   | **33,229,085**                                 |   |                                               |   |                                                      |   | **332,291**                                 |   |                                             | **6,246,963** |                                              |   | **6,579,253**                                             |   |   | **1,073,237** |   |   | **9,167,619** |   |   | **1,383,042** |   |
|  CS                for Cash                                  |   |                                      | 05/06/04 |                                            |   | 250,000                                        |   |                                               | 0.20   |                                                      |   | 2,500                                       |   |                                             | 47,500        |                                              |   | 50,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/06/04 |                                            |   | 250,000                                        |   |                                               | 0.20   |                                                      |   | 2,500                                       |   |                                             | 47,500        |                                              |   | 50,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/07/04 |                                            |   | 550,000                                        |   |                                               | 0.20   |                                                      |   | 5,500                                       |   |                                             | 104,500       |                                              |   | 110,000                                                   |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/07/04 |                                            |   | 250,000                                        |   |                                               | 0.20   |                                                      |   | 2,500                                       |   |                                             | 47,500        |                                              |   | 50,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/10/04 |                                            |   | 50,000                                         |   |                                               | 0.20   |                                                      |   | 500                                         |   |                                             | 9,500         |                                              |   | 10,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/11/04 |                                            |   | 157,500                                        |   |                                               | 0.20   |                                                      |   | 1,575                                       |   |                                             | 29,925        |                                              |   | 31,500                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/11/04 |                                            |   | 17,500                                         |   |                                               | 0.20   |                                                      |   | 175                                         |   |                                             | 3,325         |                                              |   | 3,500                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Investment                                  |   |                                      | 05/13/04 |                                            |   | 125,000                                        |   |                                               | 0.20   |                                                      |   | 1,250                                       |   |                                             | 23,750        |                                              |   | 25,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/18/04 |                                            |   | 50,000                                         |   |                                               | 0.20   |                                                      |   | 500                                         |   |                                             | 9,500         |                                              |   | 10,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 05/18/04 |                                            |   | 45,000                                         |   |                                               | 0.20   |                                                      |   | 450                                         |   |                                             | 8,550         |                                              |   | 9,000                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 5/18/04  |                                            |   | 5,000                                          |   |                                               | 0.20   |                                                      |   | 50                                          |   |                                             | 950           |                                              |   | 1,000                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for services                                    |   |                                      | 05/26/04 |                                            |   | 140,000                                        |   |                                               | 0.35   |                                                      |   | 1,400                                       |   |                                             | 47,600        |                                              |   | 49,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Director, officer and employee compensation |   |                                      | 06/03/04 |                                            |   | 180,000                                        |   |                                               | 0.20   |                                                      |   | 1,800                                       |   |                                             | 34,200        |                                              |   | 36,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 06/09/04 |                                            |   | 22,500                                         |   |                                               | 0.33   |                                                      |   | 225                                         |   |                                             | 7,200         |                                              |   | 7,425                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 13,630                                         |   |                                               | 0.20   |                                                      |   | 136                                         |   |                                             | 2,626         |                                              |   | 2,762                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 160,000                                        |   |                                               | 0.20   |                                                      |   | 1,600                                       |   |                                             | 30,400        |                                              |   | 32,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Services                                    |   |                                      | 08/20/04 |                                            |   | 150,000                                        |   |                                               | 0.20   |                                                      |   | 1,500                                       |   |                                             | 28,500        |                                              |   | 30,000                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 26,500                                         |   |                                               | 0.25   |                                                      |   | 265                                         |   |                                             | 6361          |                                              |   | 6626                                                      |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 60,000                                         |   |                                               | 0.25   |                                                      |   | 600                                         |   |                                             | 14,307        |                                              |   | 14,907                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 20,000                                         |   |                                               | 0.25   |                                                      |   | 200                                         |   |                                             | 4,800         |                                              |   | 5,000                                                     |   |   |   |   |   |   |   |   |   |   |
| CS                for Accounts Payable                            |   |                                      | 08/20/04 |                                            |   | 166,000                                        |   |                                               | 0.25   |                                                      |   | 1660                                        |   |                                             | 39,890        |                                              |   | 41,550                                                    |   |   |   |   |   |   |   |   |   |   |
| CS                for Cash                                        |   |                                      | 09/09/04 |                                            |   | 50,000                                         |   |                                               | .20    |                                                      |   | 500                                         |   |                                             | 9,500         |                                              |   | 10,000                                                    |   |   |   |   |   |   |   |   |   |   |
| Options                issued to officer and director             |   |                                      |     |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             |          |                                              |   |                                                      |   |   | 1,000,000 |   |   |   |   |   | 95,000 |   |
| Expired                options and warrants                       |   |                                      |     |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 503,774       |                                              |   | 503,774                                                   |   |   | (873,237 | ) |   | (299,445 | ) |   | (503,774 | ) |
| Gain                on sale of internal securities                |   |                                      |     |                                            |   |                                           |   |                                               |   |                                                      |   |                                        |   |                                             | 210,194       |                                              |   | 210,194                                                   |   |   |   |   |   |   |   |   |   |   |
| **Balance                September 30, 2004**                     |   |                                      |     |                                            |   | **35,967,715**                                 |   |                                               |   |                                                      | **$**  | **359,677**                                 |   | **$**                                            | **7,518,815** |                                              | **$**  | **7,878,492**                                             |   |   | **1,200,000** |   |   | **8,868,174** |   | **$** | **974,268** |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE        5 -  **
**COMMON        STOCK OPTIONS AND WARRANTS**

----

**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**NOTES          TO THE FINANCIAL STATEMENTS **

**SEPTEMBER          30, 2004**

**NOTE      5 - COMMON STOCK OPTIONS AND WARRANTS (Continued)**

----

**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**NOTES          TO THE FINANCIAL STATEMENTS **

**SEPTEMBER          30, 2004**

**NOTE      5 - COMMON STOCK OPTIONS AND WARRANTS (Continued)**

|                                                     |   | Number                of Shares |      | Weighted                Average Exercise Price |   |
|----------------------------------------------------------|--------|---------------------------------|-----------|------------------------------------------------|--------|
| Outstanding                at October 1, 2002            |   |                            | 1,073,237 |                                           | $      | 0.85 |   |
| Granted                                                  |   |                            | -         |                                           |   | - |   |
| Exercised                                                |   |                            | -         |                                           |   | - |   |
| Expired                                                  |   |                            | (67,000   | )                                              |   | 0.50 |   |
| Outstanding                at September 30, 2003         |   |                            | 1,006,237 |                                           | $      | 0.87 |   |
| Options                exercisable at September 30, 2003 |   |                            | 1,006,237 |                                           | $      | 0.87 |   |
|                                                     |   |                            |      |                                           |   |   |   |
| Outstanding                at October 1, 2003            |   |                            | 1,006,237 |                                           | $      | 0.87 |   |
| Granted                                                  |   |                            | 1,000,000 |                                           |   | 0.37 |   |
| Exercised                                                |   |                            | -         |                                           |   | - |   |
| Expired                                                  |   |                            | (806,237  | )                                              |   | 0.80 |   |
| Outstanding                at September 30, 2004         |   |                            | 1,200,000 |                                           | $      | 0.44 |   |
| Options                exercisable at September 30, 2004 |   |                            | 700,000   |                                           | $      | 0.49 |   |
| Options                exercisable:                      |   |                            |      |                                           |   |   |   |
| -On                or before March 3, 2006               |   |                            | 200,000   |                                           | $      | 0.80 |   |
| -On                or before May 27, 2007                |   |                            | 500,000   |                                           | $      | 0.37 |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      5 - COMMON STOCK OPTIONS AND WARRANTS (Continued)**

| Number                of Warrants |   |   | Strike                Price |   | Expiration                Date |
|-----------------------------------|--------|--------|-----------------------------|--------|--------------------------------|
| 7,954,761                         |   |   | $                0.40       |   | 9/30/2006                      |
| 520,000                           |   |   | $                1.00       |   | 9/30/2007                      |
| 90,000                            |   |   | $                1.00       |   | 6/9/2005                       |
| 40,000                            |   |   | $                1.00       |   | 1/9/2005                       |
| 150,000                           |   |   | $                1.00       |   | 1/30/2007                      |
| 113,413                           |   |   | $                1.00       |   | 5/31/2007                      |
| 8,868,174                         |   |   |                        |   |                           |

**NOTE        6 -  **
**RELATED        PARTY TRANSACTIONS**

|                        |     | September                30, |
|-----------------------------|----------|------------------------------|
|                        |     | 2004                         | 2003 |
| Name                        | Date     | Amount                       | Amount |
|                        |     |                         |   |
| Electrum                LLC | 11/6/00  | $35,000                      | $35,000 |
|                        | 12/4/00  | 100,000                      | 100,000 |
|                        | 12/18/00 | 50,000                       | 50,000 |
|                        | 1/26/01  | 50,000                       | 50,000 |
|                        | 3/15/01  | 50,000                       | 50,000 |
|                        | 4/10/01  | 50,000                       | 50,000 |
|                        | 5/4/01   | 50,000                       | 50,000 |
|                        | 6/4/01   | 50,000                       | 50,000 |
|                        | 7/3/01   | 85,000                       | 85,000 |
|                        | 1/31/02  | 150,000                      | 150,000 |
|                        |     | 670,000                      | 670,000 |
|                        |     |                         |   |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      6 - **
**RELATED      PARTY TRANSACTIONS (Continued)**

|                                              |       |       |       |
|---------------------------------------------------|------------|------------|------------|
| LCM                Holdings, LLC                  | 10/26/2001 | 50,000     | 50,000     |
|                                              | 11/1/2001  | 10,000     | 10,000     |
|                                              | 11/15/2001 | 30,000     | 30,000     |
|                                              | 11/28/2001 | 29,445     | 29,445     |
|                                              | 5/7/2002   | 60,000     | 60,000     |
|                                              | 5/22/2002  | 35,000     | 35,000     |
|                                              | 6/14/2002  | 18,412     | 18,412     |
|                                              |       | 232,857    | 232,857    |
| Berger                                            | 8/28/2001  | 90,000     | 90,000     |
|                                              | 10/2/2001  | 10,000     | 10,000     |
|                                              |       | 100,000    | 100,000    |
|                                              |       |       |       |
| Buchanan                                          | 1/8/2002   | 30,000     | 30,000     |
|                                              |       |       |       |
| CGT                Management                     | 8/29/2003  | -          | 65,000     |
|                                              |       |       |       |
| Total                notes payable - shareholders |       | $1,032,857 | $1,097,857 |

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      6 - **
**RELATED      PARTY TRANSACTIONS (Continued)**

**NOTE        7 -  **
**PROPERTY        AND EQUIPMENT**

|                                              |   | September                30,2004 |    | September                30,2003 |   |
|---------------------------------------------------|--------|----------------------------------|---------|----------------------------------|--------|
| Furniture,                Equipment, and Vehicles |   | $                                | 37,389  |                             | $      | 33,030 |   |
| Less:                Accumulated Depreciation     |   |                             | (30,758 | )                                |   | (27,858 | ) |
|                                              |   | $                                | 6,631   |                             | $      | 5,172 |   |

**NOTE        8 -  **
**INVESTMENTS**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      8 - INVESTMENTS (Continued)**

**NOTE        9 -  **
**LONG-TERM        DEBT**

**NOTE        10 -  **
**FORGIVENESS        OF DEBT**

**NOTE        11 -  **
**COMMITMENTS        AND CONTINGENCIES**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      11 - COMMITMENTS AND CONTINGENCIES (Continued)**

**NOTE        12 -  **
**CONCENTRATION**

**NOTE        13 -  **
**SUBSEQUENT        EVENTS**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE      13 - SUBSEQUENT EVENTS (Continued)**

----

**TREND        MINING COMPANY**

**(AN        EXPLORATION STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS **

**SEPTEMBER        30, 2004**

**NOTE        14 - **
**CORRECTION        OF AN ERROR**

----

**PART      III**

**ITEM      8.**
**Directors      & Executive Officers**

| Nominee                                                        | Principal                  Occupations and Business ExperienceDuring                  the Past Five Years                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| J.                  Michael Sharratt Age                  75   | Mr.                  Sharratt became a member of the board directors in August, 2000                  and served                  as the Company’s Chairman until May, 2004. At that time, Mr. Sharratt                  resigned as Chairman but continues to serve on the Board of Directors.                  Mr.                  Sharratt is a platinum-group explorationist with direct hands-on                  experience involving North America’s most important platinum mineral group                  deposit. He has been the president of Platina Minerals LLC, a private                  company that provides mineral consulting services, since 2000.                  Prior to                  joining the Company, Mr. Sharratt was a mineral consultant from                  1998 to                  2000. Mr. Sharratt served as vice chairman, from 1994 to 1997,                  and                  President, from 1992 to 1994, of Stillwater Mining Company. From                  1976 to                  1992, he also served as vice president and senior director of Mining                  and                  Minerals for Manville Corp., the co-developer of the Stillwater                  platinum/palladium mine in Montana. While he was with Manville                  Corp., 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, 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 Age                  48  | Mr.                  Christian was elected to the board of directors in August 2000.                  Mr.                  Christian is the Managing Director of CPM Group, which he and several                  associates created in June 1986, in a leveraged buyout of the Goldman                  Sachs Commodities Research Group which they comprised. As Managing                  Director, Mr. Christian is responsible for the total operation                  of CPM                  Group, supervising a respected group of analysts, investment bankers,                  and                  dealers dedicated to precious metals and commodities market research,                  consulting, and investment banking. He is actively engaged in the                  research                  products of CPM Group, taking primary responsibility for the long                  term (10                  year) projections for the precious metals and copper markets. Mr.                  Christian has a Bachelors of Journalism from the University of                  Missouri                  and has engaged in post-graduate non-degree studies in econometrics,                  international economics and finance, and international political                  science.                  Mr. Christian is a director of Cadence Resources Corporation, a                  publicly                  traded oil, gas and mineral exploration company, and Chief Financial                  Officer and director of North American Emerald Mines, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

| Bobby                  E. Cooper Age                  58  | Mr.                  Cooper became a director of the Company in July 2002. Mr. Cooper                  has over                  thirty years of mining industry experience. Prior to retiring in                  1997, he                  was the chief executive officer and president of Kennecott Corporation,                  a                  mining company and a wholly owned subsidiary of Rio Tinto (RTZ),                  a mining                  company. Before being named chief executive officer and president,                  Mr.                  Cooper held various other positions with Kennecott since 1983,                  including                  chief operating officer and vice president of U.S. Mines. Mr. Cooper                  is                  currently a director of 3L&T Corp., a private start-up chemical                  company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|----------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Thomas                  Loucks Age                  55    | Mr.                  Loucks became President and Chief Executive Officer of the Company                  in                  June, 2004 and a member of the Board in August, 200. He worked                  as an                  independent consultant to junior mining and other resource companies                  from                  July, 2000 until joining the Company. Prior to that he was the                  Executive                  Vice President and Treasurer of Royal Gold, Inc. from 1991 until                  June,                  2000. From August 1988 until 1991, Mr. Loucks was Vice President                  of                  Corporate Development of Royal Gold. From August 1985 until August                  1988,                  Mr. Loucks was a Business Development Analyst with Newmont Mining                  Company.                  Mr. Loucks is a Member of the Society of Economic Geologists, Inc.,                  and                  the Society of Economic Geologists Foundation, Inc. He has both                  a B.A. and                  M.A. in Geology from Dartmouth College and a M.B.A. from Stanford                  University.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| John                  P. Ryan Age                  42     | Mr.                  Ryan has served as our Chief Financial Officer (“CFO”), secretary,                  treasurer and as a director since August 2000. Mr. Ryan is a degreed                  mining engineer. Mr. Ryan has served as the Vice President of Corporate                  Development for Cadence Resources Corporation since September 1996,                  and is                  also currently serving as Secretary and a director of Cadence.                  Cadence is                  a publicly traded oil exploration and production company. Since                  February                  2004 he has served as an officer and director of White Mountain                  Titanium                  Corporation, a publicly traded mining exploration company. Other                  companies                  with which Mr. Ryan holds an officer and/or director position include                  Bio-Quant, Inc., Nevada-Comstock Mining Company, GreatWall Gold                  Corporation, High Plains Uranium, Inc., Sundance Diamonds Corporation                  and                  Dotson Exploration Company. Many of these companies have only minimal                  activity and require only a small amount of Mr. Ryan’s time. 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Ishiung                  J. Wu Age                  58    | Dr.                  Wu became a director of the Company in August 2000. He is currently                  the                  President and Chairman of GreatWall Gold Corporation., an exploration                  company focused on mineral development in China. He is the president                  of IW                  Exploration Co., a privately held company engaged in mineral exploration                  ventures and capital management since January 1992. From January                  1992 to                  January 1995, Dr. Wu was a consultant and project manager in the                  United                  States and overseas for various mineral exploration programs involving                  private and public entities. From January 1995 to January 2002,                  Dr. Wu was                  a director and Vice President of Exploration of General Minerals                  Corp., a                  natural resources public company of which he was a co-founder.                  From June                  2002 to August 2003, Dr. Wu was a director and president of Mammoth                  Gold                  Corp and director and vice president of Exploration for Alaska                  Gold Mines,                  Inc., a mineral exploration company in Canada. From January 2000                  to                  January 2002, Dr. Wu was also chairman of Xinjiang Towerbeck Mineral                  Joint                  Venture, a Chinese-Canadian joint venture for gold exploration                  and mining                  activities at Towerbeck gold deposit in Central Asian Gold Belt.                  Dr. Wu                  has over thirty years experience in mineral exploration management.                  Dr. Wu                  holds an M.A. (1971) and Ph.D. (1975) in economic geology from                  Harvard                  University, where he was a Teaching Fellow in Geology from 1971                  to 1973.                  He is also a Fellow of the Society of Economic Geologists.  |

----

----

**ITEM      9.**
**Executive      Compensation**

| NameandPrincipalPosition                        |   | Year   |   | AnnualSalary($) |   | Bonus($) |   | OtherRestrictedCompen-sation($) |   | SecuritiesUnderlyingStockAwards                -($) |   | Options                /SARs(#) |   | LTIPPayouts($) |   | All                OtherCompensation($) |   |
|-------------------------------------------------|--------|--------|--------|-----------------|--------|----------|--------|---------------------------------|--------|-----------------------------------------------------|--------|---------------------------------|--------|----------------|--------|-----------------------------------------|--------|
| (a)                                             |   | (b)    |   | (c)(1)          |   | (d)      |   | (e)                             |   | (f)                                                 |   | (g)                             |   | (h)            |   | (i)                                     |   |
| Thomas                Loucks, President, CEO(1) |   |   | 2004   |            | $      | 26,000   |   |                            |   |                                                |   |                            |   | $              | 95,000 |                                    |   |   |   |   |   |   |   |   |   |
|                                            |   |   |   |            |   |     |   |                            |   |                                                |   |                            |   |           |   |                                    |   |   |   |   |   |   |   |   |   |
| Kurt                J.                          |   |   | 2004   |            | $      | 36,000   |   |                            |   |                                                |   |                            |   |           |   |                                    |   |   |   |   |   |   |   |   |   |
| Hoffman                                         |   |   | 2003   |            | $      | 60,066(2 | )      |                            | 0      |                                                | $      | 5,700(3                         | )      |           | 0      |                                    |   | 0 |   |   | 0 |   |   |   |   |
| President,                                      |   |   | 2002   |            | $      | 88,000(2 | )      |                            | 0      |                                                | $      | 5,700(3                         | )      |           | 0      |                                    |   | 0 |   |   | 0 |   |   |   |   |
| CEO(2)                                          |   |   |   |            |   |     |   |                            |   |                                                |   |                            |   |           |   |                                    |   |   |   |   |   |   |   |   |   |

| (1) | Mr.                Loucks became President & CEO of the Company in June, 2004 replacing                Mr. Hoffman. |
|-----|-------------------------------------------------------------------------------------------------------------------------|

----

| (2) | Mr.                Hoffman served as President & CEO from June 1998 until June, 2004. In                2004 Mr. Hoffman received cash compensation of $6,000 and restricted                shares valued at $30,000 in lieu of salary. In 2003, Mr. Hoffman                received                600,656 restricted shares of our common stock, valued at $0.10 per                share,                in lieu of $60,066 of salary. The fair market value of such shares                on                September 30, 2003, the date of grant, was $90,098. In 2002, Mr.                Hoffman                received $85,284 of his salary in cash and the remainder was                deferred. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Reflects                the value of the use of a Company automobile calculated at $.38 per                mile                and 15,000 miles per year. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|                         |   | Shares                Acquired |   | Value                Realized |   | Number                of Shares of Common                Stock Underlying Unexercised                Options at                Year End (September 30, 2004) |   | Value                of Unexercised In-The-Money                Options at                Year End (September 30 2004)(1) ($) |    |
|------------------------------|--------|--------------------------------|--------|-------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------|---------|
|                         |   | Exercise                       |   | $                             |   | Exercisable                                                                                                                                                  |   | Unexercisable                                                                                                                 |    | Exercisable |   | Unexercisable |   |
| Thomas                Loucks |   |                           | 0      |                          | $      | --                                                                                                                                                           |   |                                                                                                                               | 250,000 |   |  | -- |   |  | -- |   |  | -- |   |

| (1) | Options                  are “in-the-money” if the market price of a share of common stock exceeds                  the exercise price of the                  option. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**ITEM      10.**
**Security      Ownership of Certain Beneficial Owners and Management**

| Name                and Address of Beneficial Owner                                                       |   | Amount                and Nature of Beneficial                Ownership |       | Percent                of Class (1) |   |
|-----------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------|------------|-------------------------------------|--------|
|                                                                                                      |   |                                                                    |       |                                |   |   |   |
| Directors                and Executive Officers                                                      |   |                                                                    |       |                                |   |   |   |
| Thomas                Loucks (7)                                                                     |   |                                                                    | 350,000    |                                |   | * |   |
| Jeffrey                M. Christian (2)                                                              |   |                                                                    | 212,000    |                                |   | * |   |
| Bobby                E. Cooper                                                                       |   |                                                                    | 115,000    |                                |   | * |   |
| John                P. Ryan (3)                                                                      |   |                                                                    | 1,087,000  |                                |   | 3.00 | % |
| J.                Michael Sharratt (4)                                                               |   |                                                                    | 362,500    |                                |   | 1.00 | % |
| Ishiung                J. Wu (8)                                                                     |   |                                                                    | 415,000    |                                |   | 1.15 | % |
| All                Officers and Directors as a Group (5)                                             |   |                                                                    | 2,541,500  |                                |   | 7.02 | % |
| 5%                Stockholders                                                                       |   |                                                                    |       |                                |   |   |   |
| Thomas                S. Kaplan (6) 154                West 18th Street New                York, New York |   |                                                                    | 14,567,854 |                                     |   | 40.21 | % |

| * | Amount                shown is less than 1 percent. |
|---|-----------------------------------------------------|

----

| 1. | The                address of each such person, unless otherwise noted, is c/o Trend                Mining                Company, 5575 South Sycamore Street, Suite 103, Littleton Colorado                80120. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Mr.                Christian directly owns 107,000 shares and has voting and dispositive                control with respect to 105,000 shares owned by CPM Group of which                he is                the majority stockholder. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | These                shares include 40,000 shares owned by Nancy Martin, Mr. Ryan’s spouse,                4,000 shares owned by Andover Capital of which Mr. Ryan is a 50%                shareholder and his spouse is a 50%                shareholder. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | These                shares include 200,000 shares issuable upon exercise of currently                exercisable options. |
|----|----------------------------------------------------------------------------------------------------------------------------|

| 5. | These                shares include 800,000 shares issuable pursuant to currently exercisable                options, 40,000 shares owned by Nancy Martin, Mr. Ryan’s spouse, 4,000                shares owned by Andover Capital of which Mr. Ryan is a 50% shareholder                and                his spouse is a 50% shareholder, of which Mr. Ryan is an affiliate                and                105,000 shares owned by CPM Group. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | This                information is based solely on a Schedule 13D/A filed with the SEC                on                February 13, 2004. The amount reflects shares, shares issuable upon                exercise of warrants and shares issuable upon exercise of options                held by                Mr. Kaplan, Tigris Financial Group, Ltd. (“Tigris”), Electrum LLC                (“Electrum”), and LCM Holdings, LDC (“LCM”). Mr. Kaplan has sole voting                and dispositive control with respect to 1,000,000 shares owned by                Tigris                of which he is the sole stockholder. Pursuant to a voting trust agreement                with Electrum, dated March 31, 2000 and amended on March 30, 2001,                Mr.                Kaplan also has sole voting and dispositive control with respect                to                12,219,751 shares owned by Electrum consisting of (1) 4,307,488 shares                of                Common Stock held outright; (2) 6,279,761 shares underlying Common                Stock                purchase warrants which are exercisable at an exercise price of $0.40                per                share, (3) 670,000 shares underlying Common Stock purchase warrants                which                are exercisable at an exercise price of $1.50 per share, and (4)                481,251                shares of Common Stock and 481,251 shares underlying warrants which                are                exercisable at an exercise price of $1.50 per share, which shares                and                warrants are issuable to Electrum upon conversion of convertible                debt held                by Electrum. This agreement with Electrum shall terminate by March                2010                unless earlier terminated pursuant to the terms of the agreement.                Pursuant                to a voting trust agreement with LCM, dated August 27, 2003, Mr.                Kaplan                also has sole voting and dispositive control with respect to 1,348,103                shares held by LCM consisting of (1) 900,174 shares of Common Stock                held                outright; (2) 113,413 shares of Common Stock underlying Common Stock                purchase warrants which are exercisable at an exercise price of $1.50                per                share; and (3) 167,258 shares of Common Stock and an additional 167,258                shares of Common Stock underlying Common Stock purchase warrants                which are                exercisable at an exercise price of $1.50 per share, which shares                and                warrants are issuable to LCM upon conversion of convertible debt                held by                LCM. This agreement with LCM shall terminate by August 27, 2013 unless                earlier terminated pursuant to the terms of the                agreement. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Includes                300,000 shares of common stock issuable upon exercise of                warrants. |
|----|-----------------------------------------------------------------------------------------------------------|

| 8. | Includes                300,000 shares of common stock issuable upon exercise of                warrants. |
|----|-----------------------------------------------------------------------------------------------------------|

----

**ITEM      11.**
**Certain      Relationships and Related Transactions**

----

----

----

| Issued                to        |   | #                Shares |    | Previous                Exp. Date |   | New                Exp. Date |   | Previous                Price per                Share |     | New                Price per                Share |   |
|---------------------------------|--------|-------------------------|---------|-----------------------------------|--------|------------------------------|--------|--------------------------------------------------------|----------|---------------------------------------------------|--------|
| Electrum                        |   |                    | 520,000 |                              |   | 09/30/07                     |   |                                                   | 09/30/06 |                                              | $      | 1.00 |   | $ | 1.50 |   |
| Electrum                        |   |                    | 150,000 |                              |   | 01/30/07                     |   |                                                   | 01/30/07 |                                              | $      | 1.00 |   | $ | 1.50 |   |
| LCM                Holdings LDC |   |                    | 119,445 |                              |   | 01/09/05                     |   |                                                   | 01/09/04 |                                              | $      | 1.00 |   | $ | 1.50 |   |
| LCM                Holdings LDC |   |                    | 113,413 |                              |   | 06/27/07                     |   |                                                   | 06/27/07 |                                              | $      | 1.00 |   | $ | 1.50 |   |

----

**ITEM      12.**
**EXHIBITS      AND REPORTS ON FORM 8-K**

| 3.1     | Certificate                  of Incorporation, effective March 28, 2001. (1)                                                                                                                                                                                                                                                    |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.2     | Certificate                  of Merger, filed March 28, 2001. (1)                                                                                                                                                                                                                                                               |
| 3.3     | Bylaws,                  adopted March 28, 2001. (1)                                                                                                                                                                                                                                                                            |
| 9.1     | Voting                  Trust Agreement, dated as of March 31, 2000, by and between Thomas                  Kaplan                  and Electrum LLC. (2)                                                                                                                                                                       |
| 9.2     | Amendment                  to Voting Trust Agreement, dated as of March 31, 2001, by and between                  Thomas Kaplan and Electrum LLC. (3)                                                                                                                                                                           |
| 9.3     | Voting                  Trust Agreement, dated as of August 27, 2003, by and between Thomas                  Kaplan                  and LCM Holdings, LDC. (4)                                                                                                                                                                 |
| 10.1    | Lake                  Owen Option Agreement, dated July 27, 1999, by and between General                  Minerals Corporation and the Company. (5)                                                                                                                                                                             |
| 10.2    | Stock                  Purchase Agreement, dated as of December 29, 1999, between Tigris                  Financial Group Ltd. and the Company. (5)                                                                                                                                                                             |
| 10.3    | Amendment                  to Lake Owen Option Agreement, dated June 12, 2000, between General                  Minerals Corporation and the Company; and Warrant Agreement, dated                  June                  12, 2000, between the Company and General Minerals Corporation.                  (5)                  |
| 10.4    | Amendment                  to Stock Purchase Agreement, dated as of June 27, 2000, by and                  between                  Electrum LLC and the Company; and Warrant Agreement, dated June                  9, 2000,                  by and between the Company and Tigris Financial Group Ltd.                  (5)  |
| 10.5    | Letter                  Agreement, dated November 10, 2000, by and between the Company                  and                  Electrum LLC. (6)                                                                                                                                                                                  |
| 10.6    | Letter                  Agreement, dated November 17, 2000, by and between the Company                  and                  Electrum LLC. (6)                                                                                                                                                                                  |
| 10.7    | Loan                  Facility Agreement, dated December 6, 2000, by and between the                  Company and                  Electrum LLC. (6)                                                                                                                                                                            |
| 10.8++  | 2000                  Equity Incentive Plan, adopted February 23, 2001. (7)                                                                                                                                                                                                                                                     |
| 10.9    | Loan                  Agreement, dated March 12, 2001, by and between the Company and                  Electrum                  LLC. (8)                                                                                                                                                                                       |
| 10.10   | Letter                  Agreement, dated April 11, 2001, by and between the Company and                  Electrum                  LLC. (9)                                                                                                                                                                                     |

----

| 10.11++  | Employment                    Agreement, dated July 1, 2001, by and between the Company and                    John P.                    Ryan.(10)                                                                                                                                           |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.12    | Form                    of Loan Facility, dated August 16, 2001, between the Company                    and Lillian                    Berger.(10)                                                                                                                                            |
| 10.13    | Short                    Term Loan Agreement, dated September 6, 2001, between the Company                    and Kurt                    J. Hoffman. (10)                                                                                                                                    |
| 10.14    | Loan                    Facility, dated September 28, 2001, between the Company and Lillian                    Berger. (10)                                                                                                                                                                   |
| 10.15    | Form                    of Loan Facility, dated October 22, 2001, between the Company                    and LCM                    Holdings, LDC.(10)                                                                                                                                        |
| 10.16    | Bill                    of Sale, dated November 12, 2001, relating to the Pyramid property,                    by and                    between the Company and Western Goldfields, Inc., fka Calumet                    Mining                    Company. (10)                             |
| 10.17    | Loan                    Facility, dated December 18, 2001, between the Company and Larry                    Buchanan.                    (10)                                                                                                                                                 |
| 10.18    | Form                    of Agreement to Readjust Certain Terms of Loans & Warrants, dated                    January 30, 2002, by and between the Company, Electrum LLC, LCM                    Holdings,                    Ltd., the Estate of Lillian Berger and Larry Buchanan. (10)  |
| 10.19    | Form                    of Transfer of Lake Owen Option Agreement, dated February 2002,                    by and                    among General Minerals Corporation, the Company, Ron Nash and                    Howard                    Schraub. (10)                                 |
| 10.20    | Form                    of Sale of Lake Owen Option Agreement and Exercise of Option,                    dated March                    15, 2002, by and between the Company and Howard Schraub. (10)                                                                                         |
| 10.21    | Form                    of Sale of Lake Owen Option Agreement and Exercise of Option,                    dated March                    15, 2002, by and between the Company and Ron Nash. (10)                                                                                               |
| 10.22    | Form                    of Loan Facility, dated June 27, 2002, between the Company and                    LCM                    Holdings, LDC. (10)                                                                                                                                          |
| 10.23++  | Amended                    Employment Agreement, dated September 1, 2002, by and between                    the Company                    and John P. Ryan. (10)                                                                                                                             |
| 10.24    | Cancellation                    of share of Series A Preferred Stock, dated October 1, 2002,                    by the                    Company and Thomas Kaplan. (10)                                                                                                                     |
| 10.25    | Business                    Consultant Agreement, dated October 29, 2002, by and between                    the Company                    and Howard Schraub. (10)                                                                                                                           |
| 10.26    | Form                    of Subscription Agreement in connection with October - December                    2002                    private placement. (10)                                                                                                                                    |

----

| 10.27   | Form                    of Subscription Agreement, dated December 29, 2002, by and between                    the                    Company and Kurt J. Hoffman for 169,160 shares of the common                    stock of the                    Company. (10)  |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.28   | Form                    of Subscription Agreement, dated January 14, 2003, by and between                    the                    Company and John P. Ryan for 450,000 shares of the common stock                    of the                    Company. (10)      |
| 10.29   | Fee                    Agreement, dated March 1, 2003, by and between the Company and                    National                    Securities Corporation. (10)                                                                                                   |
| 10.30   | Promissory                    Note, dated August 29, 2003, from the Company to CGT Management                    Ltd.                    (10)                                                                                                                       |
| 10.31   | Form                    of Amendment to Promissory Note, dated November 27, 2003, by                    and between                    the Company and CGT Management Ltd. (10)                                                                                     |
| 31.1+   | Certification                    of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a)                    of the                    Securities Exchange Act of 1934, as amended.                                                                          |
| 31.2+   | Certification                    of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a)                    of the                    Securities Exchange Act of 1934, as amended.                                                                          |
| 32+     | Certification                    Pursuant to 18 U.S.C. Section 1350.                                                                                                                                                                                                |
| 10.33*  | Waiver                    Agreement dated February 12, 2004, by and between the Company                    and Electrum                    LLC, and between the Company and LCM Holdings LDC.                                                                       |
| 10.34*  | Amended                    Loan and Warrant Agreement dated February 12, 2004, by and between                    the                    Company and Electrum LLC, and between the Company and LCM Holdings                    LDC.                                  |

| +    | Filed                  herewith.                                                                                                                                                                                                                                 |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *    | Incorporated                  by reference to the Company’s Annual Report on Form 10K-SB for the fiscal                  year ended September 30, 2004 filed with the Commission on January                  13,                  2005, File No. 0-31159.  |
| ++   | Indicates                  an exhibit that constitutes an executive compensation plan.                                                                                                                                                                           |
| (1)  | Incorporated                  by reference to the Company’s Current Report on Form 8-K dated March 28,                  2001, File No. 0-31159.                                                                                                            |
| (2)  | Incorporated                  by reference to Schedule 13D by Thomas S. Kaplan, filed with the                  Commission on October 4, 2000, File No. 0-559667.                                                                                                |
| (3)  | Incorporated                  by reference to Schedule 13D/A by Thomas S. Kaplan, filed with                  the                  Commission on May 23, 2001, File No. 0-559667.                                                                                |
| (4)  | Incorporated                  by reference to Schedule 13D/A by Thomas S. Kaplan, filed with                  the                  Commission on November 21, 2003, File No. 0-559667.                                                                           |

----

| (5)   | Incorporated                  by reference to the Company’s Registration Statement on Form 10-SB,                  Amendment No. 1, filed with the Commission on September 27, 2000,                  File No.                  0-31159.                   |
|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)   | Incorporated                  by reference to the Company’s Annual Report on Form 10-KSB for the fiscal                  year ended September 30, 2000, File No. 0-31159.                                                                                  |
| (7)   | Incorporated                  by reference to the Company’s definitive Proxy Statement on Schedule 14A,                  filed with the Commission on January 29, 2001.                                                                                    |
| (8)   | Incorporated                  by reference to the Company’s Registration Statement on Form 10-SB,                  Amendment No. 4, filed with the Commission on March 26, 2001, File                  No.                  0-31159.                       |
| (9)   | Incorporated                  by reference to the Company’s Registration Statement on Form 10-SB,                  Amendment No. 5, filed with the Commission on May 25, 2001, File                  No.                  0-31159.                         |
| (10)  | Incorporated                  by reference to the Company’s Annual Report on Form 10K-SB for the fiscal                  year ended September 30, 2003 filed with the Commission on January                  21,                  2004, File No. 0-31159.  |

|   |   |
|--------|--------|

| (b) | Reports                  on Form 8-K |
|-----|--------------------------------------|

**ITEM      13.**
**PRINCIPAL      ACCOUNTANT FEES AND SERVICES**

**AUDIT      FEES**

**AUDIT-RELATED      FEES**

**TAX      FEES**

----

**ALL      OTHER FEES**

| Audit                fees for the year ended 9-30-04 |   | $ | 42,300 |   |
|------------------------------------------------------|--------|---|--------|--------|
| Consulting                fees for same period       |   | $ | 1,000  |   |
| Tax                fees                              |   | $ | 1,050  |   |
| Other                fees                            |   | $ | 0      |   |
| Total                fees for year ended 9-30-04     |   | $ | 44,350 |   |

----

**SIGNATURES**

In      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused      this report on Form 10-KSB to be signed on its behalf by the undersigned,      thereunto duly authorized.

|                                   |                                               |                       |
|----------------------------------------|----------------------------------------------------|----------------------------|
|                                   | TREND              MINING COMPANY                  |
|                              |                                          |                  |
| Dated:              September 19, 2005 | By:                                      |  /s/ Thomas A. Loucks |
|                                   | Thomas              A. Loucks                      |
|                                   | President              and Chief Executive Officer |

| Signature                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Title                                                                                                                        | Date                               |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
| /s/                Thomas A.                Loucks                                                                        Thomas                A. Loucks          | Director,                President and Chief Executive                Officer                                                | September                19, 2005  |
|  /s/                John P.                Ryan                                                                       John                P. Ryan                  | Director,                Treasurer and Chief Financial                Officer (Principal Accounting                Officer)  | September                19, 2005  |
| * /s/                J. Michael                Sharratt                                                                       J.                Michael Sharratt   | Director                                                                                                                     | September                19, 2005  |
| * /s/                J. Michael                Sharratt                                                                       Jeffrey                M. Christian  | Director                                                                                                                     | September                19, 2005  |
| * /s/                Bobby E.                Cooper                                                                       Bobby                E. Cooper           | Director                                                                                                                     | September                19, 2005  |
| * /s/                Ishiung J.                Wu                                                                       Ishiung                J. Wu               | Director                                                                                                                     | September                19, 2005  |

----