SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C. 20549

                                 FORM 10-QSB

        QUARTERLY REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
                                  ACT OF 1934

                 For the quarterly period ended March 31, 2003

                         NEW JERSEY MINING COMPANY
                         --------------------------
                (Name of small business issuer in its charter)

IDAHO                                                82-0490295
---------------------------            -----------------------------------
(State or other jurisdiction           (I.R.S. Employer Identification No.)
of incorporation or organization)

P.O. Box 1019     (Street: 89 Appleberg Road)
Kellogg, Idaho                                                  83837
-------------------------------------------                -----------
(Address of principal executive offices)                     (Zip Code)

(208)783-3331
---------------------------
Issuer's telephone number


           Securities registered under Section 12(b) of the  Act: None

      Common                                         OTCBB
-------------------                       ------------------------------
Title of each class                  Name of each exchange on which registered


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

                      Common Stock- No Par Value
                       --------------------------
                            Title of Class

Check whether the issuer (1) has 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 the past 90 days.
Yes   XX   No       .
   ------    ------


The number of outstanding shares of the registrant's common stock at March 31,
2003 was   16,700,725 shares
           -----------------


<page>                             1



                           TABLE OF CONTENTS
                                                                        Page
                     PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements                                              3
Item 2.  Management's Discussion and Analysis                              3

                      PART II - OTHER INFORMATION

Item 1.  Legal Proceedings                                                 4
Item 2.  Changes in Securities                                             4
Item 3.  Defaults Upon Senior Securities                                   4
Item 4.  Submission of Matters to a Vote of Security Holders               4
Item 5.  Other Information                                                 4
Item 6.  Exhibits and Reports on Form 8-K                                  4

SIGNATURES                                                                 5


<page>                             2



                                    PART I

                                    ITEM 1.

                             FINANCIAL STATEMENTS


The unaudited financial statements of the Company for the periods covered by
this report are included elsewhere in this report, beginning at page F/S-1.
The unaudited financial statements have been prepared by the Company in
accordance with generally accepted accounting principles for interim financial
information with the instructions to Form 10-QSB and Item 310(b) of Regulation
S-B.  Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements.  In the opinion of the Company's management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. Operating results for the three month period
ended March 31, 2003 are not necessarily indicative of the results that may be
expected for the full year ending December 31, 2003.

For further information refer to the financial statements and footnotes
thereto in the Company's Annual Report on Form 10-KSB for the year ended
 December 31, 2002 incorporated by reference herein.


                                  ITEM 2.

        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                          AND RESULTS OF OPERATIONS

The Company's financial condition and operations changed significantly from
2002 to 2003 primarily due to the influx of new capital due to financing
activities.  Cash requirements in the first quarter of 2003 were much higher
than the first quarter of 2002 because of the increase in exploration
activities.  Operating and administrative expenses were $7,055 in the first
quarter of 2003 compared to $2,466 in the first quarter of 2002 due to a
higher level of operating activity.  Operating and administrative expenses
were down from the previous quarter primarily due to seasonal reasons.
Royalties from the lease of the New Jersey mine no longer existed in the
first quarter of 2003 compared to the first quarter of 2002 because of the
termination of the lease.  The Company presently relies on financing activities
 to meet operating and administrative expenses as well as for exploration
activities.  During the first quarter of 2003, 140,000 shares of common stock
were issued as warrants were exercised for $0.25 per share.  These warrants
were part of a May 2002 private placement completed pursuant to Rule 506 of
Regulation D of Securities Act of 1933, as amended.

In the current quarter funds used for exploration caused the deferred
development account to increase from $256,952 to $287,842.  A similar or
larger increase in the deferred development account will probably occur in the
second quarter of 2003.

Permitting of a mining operation at the Silver Strand mine is underway, but
expenditures for the development of the mine are not contemplated for 2003
because of the anticipated timing of the permitting process.  Expenditures for
environmental permitting  will probably be less than $10,000 in 2003.

Production of ore from the New Jersey mine may occur in 2004 but higher gold
and silver prices will be required for production from the open pit mine.


<page>                             3



The company is involved in exploring for and developing gold, silver and base
metal ore resources in the Coeur d'Alene Mining District of northern Idaho.
The Company has a portfolio of five mineral properties in the Coeur d'Alene
Mining District: the New Jersey mine, the Silver Strand mine, the Lost Eagle
project, the CAMP project and the Wisconsin-Teddy project. The New Jersey mine
and the Silver Strand mine are the Company's development stage properties
while the other three properties are exploration stage properties.

For a more complete description of the Company's properties refer to the
Company's Annual Report on Form 10-KSB for the year ended December 31, 2001.


                                 PART II

                                  ITEM 1.

                            LEGAL PROCEEDINGS

The Company is not currently involved in any legal proceedings and is not
aware of any pending or potential legal actions.


                                  ITEM 2.

                          CHANGES IN SECURITIES

Neither the constituent instruments defining the rights of the registrant's
security holders nor the rights evidenced by the registrant's outstanding
common stock have been modified, limited or qualified.


                                  ITEM 3.

                      DEFAULTS UPON SENIOR SECURITIES

The registrant has no outstanding senior securities.


                                  ITEM 4.

              SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

No matters were submitted to a vote of the registrant's security holders
during the period covered by this report.


                                  ITEM 5.

                            OTHER INFORMATION

None.


                                  ITEM 6.

                     EXHIBITS AND REPORTS ON FORM 8-K

Exhibits

Exhibit 99.1  Certification Pursuant to 18 U.S.C Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 99.2  Certification Pursuant to 18 U.S.C Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


Reports on Form 8-K

None.


<page>                             4



                         NEW JERSEY MINING COMPANY

                       INDEX TO FINANCIAL STATEMENTS

                                                                        Page

Balance Sheets as of March 31, 2003 and March 31, 2003.                F/S-1

Statements of Operations for the three months ended
March 31, 2003 and 2002.                                               F/S-2

Statements of Cash Flow for the three months ended
March 31, 2003 and 2002.                                               F/S-3

Notes to Interim Financial Statements                                  F/S-4

<TABLE>

                          NEW JERSEY MINING COMPANY
                        (A Development Stage Company)
                                BALANCE SHEET

ASSETS

                                         March 31      March 31
                                           2003          2002
                                          --------    ---------
       <S>                              <C>           <C>
       Current Assets
              Cash                       $   29,741      $     61

       Property & Equipment
              Building                   $   35,436      $ 33,894

              Equipment                  $  246,536      $246,536

       Other Assets
              Capitalized Development
              Costs                      $  287,842      $ 80,881

              Investment in LumaLite,
              Inc.                       $    3,000      $  3,000

              Investment in Mining
              Claims                     $  470,204      $205,204

              Mining Reclamation Bond    $    2,347      $  2,300

              Goodwill                   $   30,950      $ 30,950

       Total Assets                      $1,106,056      $602,826
</TABLE>

<TABLE>
LIABILITIES AND STOCKHOLDERS EQUITY
       <S>                              <C>           <C>
       Current Liabilities

              Accounts Payable &
              accrued expenses          $      0        $  2,585

             Current Maturities of
             Capital Lease Obligations  $      0        $  3,921

       Total Current Liabilities        $      0        $  6,506

       Capital Lease Obligations
       (less current maturities)        $      0        $      0

       Total Liabilities                $      0        $  6,506

       Stockholders Equity

       Preferred Stock
       No shares issued

       Common Stock
       No Par Value, 20,000,000 shares authorized

       2003 March 31, 2003
       16,720,725 Issued                $1,425,917

       2002 March 31, 2002
       14,943,434 Issued                                $ 858,239

       Treasury Stock                   $ (136,300)     $(136,300)
       (1,947,744 shares)


       Retained Earnings                $ (108,682)     $ (50,740)

       Deficit Accumulated in
       the Development Stage            $  (74,879)     $ (74,879)


       Total Stockholders Equity        $1,106,056      $ 596,320

       Total Liabilities and
       Stockholders Equity              $1,106,056      $ 602,826
</TABLE>

<PAGE>                               F/S-1


<TABLE>
                              STATEMENT OF OPERATIONS

                                       March 31       March 31
                                         2003          2002
                                        --------      -------
<S>                                    <C>           <C>
Revenues                               $     358     $  2,405

Operating and Administrative Expenses  $   7,055     $  2,466

Net Income from Operations(Loss)       $  (6,697)    $    (61)

Net Gain (Loss)                        $  (6,697)    $    (61)

Basic Earnings (Loss) Per Share        $  (0.0004)   $  (0.000)

</TABLE>

<PAGE>                               F/S-2


<TABLE>
                             STATEMENT OF CASH FLOWS

                                        March 31      March 31
                                          2003          2002
                                        --------       -------
<S>                                   <C>             <C>
INCREASE (DECREASE) IN CASH

Cash Flows From Operating Activities
       Net Income (Loss)                $( 6,697)     $     (61)

Adjustment to reconcile net loss
to net cash used in Operating Activities:

       Capital Loss on sale of stock    $      0      $       0

       Decrease in accounts payable
       and accrued expenses             $ (7,927)     $      15

       Net cash from operating
       activities                       $(14,624)     $      15

Cash Flows From Investing Activities

       Additions to Property and
       equipment                        $    (135)    $       0

       Capitalized Development          $ (30,890)    $       0

       Increase in Reclamation Bond     $     (46)    $    (104)

       Net cash from investing
       activities                       $( 31,071)    $    (104)

Cash Flows From Financing Activities

       Sale of Common Stock             $  35,000     $       0

       Net cash provided by
       financing activities             $  35,000     $       0

Net Increase (Decrease)in Cash          $ (10,695)    $    (150)

Cash, Beginning of Year                 $  40,436     $     211

Cash, End of 1st Quarter                $  29,741     $      61


<PAGE>                               F/S-3

</TABLE>

                         NEW JERSEY MINING COMPANY

                NOTES TO INTERIM FINANCIAL STATEMENTS - UNAUDITED

These unaudited financial statements have been prepared by the Company in
accordance with generally accepted accounting principles for interim financial
information with the instructions to Form 10-QSB and Item 310(b) of Regulation
S-B.  Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements.  In the opinion of the Company's management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. Operating results for the three month period
ended March 31, 2003 are not necessarily indicative of the results that may be
expected for the full year ending December 31, 2003. For further information
refer to the financials statements and footnotes thereto in the Company's
Annual Report on Form 10-KSB for the year ended December 31, 2002 incorporated
by reference herein.

Note 1 - Form and Organization

New Jersey Mining Company (the company) is a corporation organized under the
laws of the State of Idaho on  July 18, 1996.  The Company was dormant until
December 31,1996, when all of the assets and liabilities of the New Jersey
Joint Venture ( a partnership) were transferred to the Company in exchange for
10,000,000 shares of common stock. The New Jersey Joint Venture, a
partnership, was formed in 1994 to develop the New Jersey mine.

Note 2 - Leases of Mining Claims

The Company has been assigned a mining lease with William Zanetti.  The lease
provides for the Company's exploration, development and mining of minerals on
fee land through October 2008 and thereafter as long as  mining operations are
deemed continuous. The lease provides for production royalties of 5% of net
sales of ores or concentrates. Additional production royalties of 1% to 5% are
due if gold exceeds $597 per troy ounce. Also, annual advance royalties
totaling $500 are required under the lease. The advance royalties, charged to
expenses as incurred, are accumulated and will be credited against the
production royalty obligations. The lessor may terminate the lease upon the
Company's failure to perform under these terms of the lease.  The Company may
also terminate the lease at any time.

The Company has a mining lease with Mine Systems Design, Inc., its majority
shareholder, which covers approximately 60 acres north of the New Jersey
mine.  The lease has a fifteen year term and calls for a 3% NSR if production
is achieved.  The NSR shall not exceed 10% of the gross proceeds.

<PAGE>                              F/S-4



SIGNATURES

In accordance with the requirements of the Exchange Act, this report has been
signed below by the following persons on behalf of the registrant and in the
capacities and on the dates indicated.

                                      New Jersey Mining Company

Date: May 14, 2003                    By /s/  FRED W. BRACKEBUSCH
      -----------------               ---------------------------------
                                      Fred W. Brackebusch, President,
                                      Treasurer & Director


Date: May 14, 2002                    By /s/ GRANT A. BRACKEBUSCH
      ------------------              ---------------------------------
                                      Grant A. Brackebusch, Vice President &



                         CERTIFICATION PURSUANT TO
                SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Fred W. Brackebusch, President of New Jersey Mining Company,(the
"registrant"), certify that:

     1.  I have reviewed this quarterly report on Form 10-QSB of New Jersey
Mining Company;

     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 I are 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 and I 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.


Date: May 14, 2003


/s/Fred W. Brackebusch
----------------------
Fred W. Brackebusch
President



                         CERTIFICATION PURSUANT TO
                SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Grant A. Brackebusch, Vice President of New Jersey Mining Company
(the "registrant"), certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of New Jersey
Mining Company;

     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 I are 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 and I 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.


Date: May 14, 2003


/s/Grant A. Brackebusch
--------------------
Grant A. Brackebusch
Vice President


<page>                             5