SECURITIES  AND  EXCHANGE  COMMISSION

Washington,  D.C.  20549



FORM  10-QSB



[ X ]  QUARTERLY REPORT PURSUANT TO  SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE  ACT  OF  1934



For  the  quarterly  period  ended  March  31,  2003



OR



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

EXCHANGE  ACT  OF  1934



For  the  transition  period  from         to



Commission  file  number:  001-08429



THUNDER  MOUNTAIN  GOLD,  INC.

-----------------------------------------------------------------------------

(Exact  name  of  registrant  as  specified  in  its  charter)



State  of  Washington                                 91-1031075

(State  or  other  jurisdiction                          (I.R.S.  Employer

of  incorporation  or  organization)                     Identification No.)



3605  E.  16th  Avenue

Spokane,  Washington                                99223

(Address  of  principal  executive  offices)               (Zip Code)



509-535-6092

(Registrant's  telephone  number,  including  area  code)



Check  whether the issuer (1)  filed  all  reports  required  to  be filed by

Section  13 or  15(d)  of  the Exchange Act during the past 12 months (or for

such shorter period  that  the registrant was required to file such reports),

and  (2) has been  subject  to such filing requirements for at least the past

90  days.                   Yes    (x)    No    ( )



State  the number  of  shares outstanding  of each of the issuer's classes of

common  equity,  as  of  the  latest  practicable  date.  9,727,852



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























<PAGE>

THUNDER  MOUNTAIN  GOLD,  INC.

FORM  10-QSB

FOR  THE  QUARTERLY  PERIOD  ENDED  MARCH  31,  2003



PART  I.  -  FINANCIAL  INFORMATION



The  Registrant falls within the  provisions  of  Rule  13a-13(c)(2)  of  the

Securities Exchange Act  of 1934, as amended, and claims exemption thereunder

from  the  requirement  to  file  Part  I.



Item 3. Controls and Procedures



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



PART  II.  -  OTHER  INFORMATION



ITEM  1     LEGAL  PROCEEDINGS

NONE



ITEM  2     CHANGES  IN  SECURITIES

NONE



ITEM  3     DEFAULTS  UPON  SENIOR  SECURITIES

NONE



ITEM  4     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

NONE



ITEM  5     OTHER  INFORMATION

NONE



ITEM  6     EXHIBITS  AND  REPORTS  ON  FORM  8-K

NONE































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

SIGNATURES

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



In accordance with Section 13 or 15(d) of the Exchange Act , the registrant

caused this report to be signed on its behalf by the undersigned, thereunto

duly  authorized.



THUNDER  MOUNTAIN  GOLD,  INC.

(Registrant)



By:  /s/ E. James Collord

-----------------------------------             Date:  May 14,  2003

E.  James  Collord

President  and  Director

Chief  Executive  Officer



By: /s/ Robin S. McRae

-----------------------------------             Date:  May 14,  2003

Robin  S.  McRae

Secretary/Treasurer  and

Director  and  Chief  Financial

Accounting  Officer































































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CERTIFICATION



I, E. James Collord, certify that:



1.

I have reviewed this quarterly report on Form 10QSB of Thunder Mountain Gold, Inc.;



2.

Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;



3.

Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.



4.

The registrant's other certifying officer and Iare responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:



(a)

designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;



(b)

evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and



(c)

presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;



5.

The registrant's other certifying officer andI have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):



(a)

all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and



(b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and



6.

The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.





Dated: May 14, 2003



/s/ E. James Collard

___________________________________

E. James Collard, President and  Director

Chief Executive  Officer



---

CERTIFICATION



I, Robin S. McRae, certify that:



1.

I have reviewed this quarterly report on Form 10QSB of Thunder Mountain Gold, Inc.;



2.

Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;



3.

Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.



4.

The registrant's other certifying officer and Iare responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:



(a)

designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;



(b)

evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and



(c)

presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;



5.

The registrant's other certifying officer andI have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):



(a)

all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and



(b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and



6.

The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.



Dated: May 14, 2003



/s/ Robin S. McRae

___________________________________

Robin S.  McRae

Secretary/Treasurer and

Director and Chief Financial Accounting Officer