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, 2002

                         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, 2002 was   12,995,690 shares
 -----------------


<PAGE>

                           TABLE OF CONTENTS
                                                                        Page
                     PART I - FINANCIAL INFORMATION

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

                      PART II - OTHER INFORMATION

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




<PAGE>

                                    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, 2002 are not necessarily indicative of the
results that may be expected for the full year ending December 31, 2002.

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, 2001 incorporated by reference herein.

                                  ITEM 2.

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

Cash decreased to $61 for the current quarter compared to $211 at the end of
the last fiscal year and $1,202 for the quarter ending March 31, 2001.
Investment in ConSil Corporation declined from $7,000 one year ago to $3,000
in the current quarter due to  the sale of stock  in the year 2001.
Investment in mining claims increased substantially from the year ago quarter
as the Lost Eagle, Grenfel and Roughwater claims were acquired.  Capital
lease obligations declined from $6,645 one year ago to $3,921 in the current
quarter because of lease payments made. Accounts payable increased in the
first quarter of 2002 as a result of accounting fees for the year 2001 audit.

The Company currently leases the New Jersey mill and mine facilities to the
largest shareholder. Gold prices have risen from low levels, and the Company
is in the process of raising capital through a private placement of stock.
The Offering calls for the Company to issue 1,700,000 Units for $0.15 per
Unit.  A Unit is comprised of one restricted common share and a warrant to
purchase one share at $0.25.  The Offering is being made under Federal
Regulation D Rule 506.  The Company hopes to raise $230,000 net of
commissions for use in an exploration program, construction of part of the
New Jersey mill and working capital.

The company is involved in exploring for and developing gold, silver and base
metal ore resources in northern Idaho.  The Company has a portfolio of six
mineral properties five of which are 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 Roughwater project is located
near Clark Fork, Idaho.  The New Jersey mine and the Silver Strand mine are
the Company's development stage properties while the other 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

None

Reports on Form 8-K

No reports on Form 8-K were filed by the registrant during the period covered
by this report.

                         NEW JERSEY MINING COMPANY

                       INDEX TO FINANCIAL STATEMENTS

                                                                        Page

Balance Sheets as of March 31, 2002 and March 31, 2001                 F/S-1

Statements of Operations for the three months ended
March 31, 2002 and 2001.                                               F/S-2

Statements of Cash Flow for the three months ended
March 31, 2002 and 2001.                                               F/S-3

Notes to Interim Financial Statements                                  F/S-4

<TABLE>

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

ASSETS

                                          Mar. 31      Mar. 31
                                           2002         2001
                                          --------     ---------
       <S>                              <C>           <C>
       Current Assets
              Cash                       $     61      $  1,202

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

              Equipment                  $246,536      $246,536

       Other Assets
              Deferred Development
              Costs                      $ 80,881      $ 80,881

              Investment in Consil
              Corporation                $  3,000      $  7,000

              Investment in Mining
              Claims                     $205,204      $ 74,704

              Mining Reclamation Bond    $  2,300      $  2,196

              Goodwill                   $ 30,950      $ 30,950

       Total Assets                      $602,826      $477,363
</TABLE>

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

              Accounts Payable &
              accrued expenses          $  2,585      $      0

             Current Maturities of
             Capital Lease Obligations  $  3,921      $  6,645

       Total Current Liabilities        $  6,506      $  6,645

       Capital Lease Obligations
       (less current maturities)        $      0      $  5,675

       Total Liabilities                $  6,506      $ 12,320

       Stockholders Equity

       Preferred Stock
       No shares issued

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

<PAGE>
       2001 Mar. 31, 2002
       14,943,434 Issued                $ 858,239

       2000 Mar. 31, 2001
       13,457,334 Issued                               $ 720,899

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


       Retained Earnings                $ (50,740)     $ (44,677)

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

       Total Stockholders Equity        $ 596,320      $ 465,043

       Total Liabilities and
       Stockholders Equity              $ 602,826      $ 477,363
</TABLE>

                                   F/S-1
<PAGE>

<TABLE>
                              STATEMENT OF OPERATIONS

                                        Mar. 31       Mar. 31
                                         2002          2001
                                        --------      -------
<S>                                    <C>           <C>
Revenues                               $  2,405      $   449

Operating and Administrative Expenses  $ (2,466)     $  (896)

Net Income from Operations(Loss)       $    (61)     $  (447)

Loss on Devaluation of Investments     $      0      $     0

Net Loss                               $    (61)     $  (447)

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

</TABLE>

                                   F/S-2
<PAGE>

<TABLE>
                             STATEMENT OF CASH FLOWS

                                        Mar. 31        Mar. 31
                                          2002          2001
                                        --------       -------
<S>                                   <C>             <C>
INCREASE (DECREASE) IN CASH

Cash Flows From Operating Activities
       Net Income (Loss)               $    (61)      $  (447)

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

       Capital Loss on sale of stock   $      0       $      0

       Increase in accounts payable
       and accrued expenses            $     15       $      0

       Net cash from operating
       activities                      $      0       $      0

Cash Flows From Investing Activities

       Additions to property and
       equipment                       $      0      $       0

       Proceeds from sale of
       investments                     $      0      $       0

       Increase in Reclamation Bond    $   (104)     $    (123)

       Net cash from investing
       activities                      $   (104)     $    (123)

Cash Flows From Financing Activities

       Principal payments on capital
       lease obligations               $      0       $      0

       Net cash provided by
       financing activities            $      0       $      0

Net Increase (Decrease)in Cash         $    (150)     $   (570)

Cash, Beginning of Quarter             $     211      $  1,772

Cash, End of Quarter                   $      61      $  1,202


                                   F/S-3
<PAGE>
</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, 2002 are not necessarily indicative of the
results that may be expected for the full year ending December 31, 2002. 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,
2001 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 mining leases with Gold Run Gulch Mining
Company and William Zanetti for areas at the New Jersey mine.  The leases
provide for the Company's exploration, development and mining of minerals on
patented and unpatented claims through October 2008 and thereafter as long as
mining operations are deemed continuous. The leases provide for production
royalties of 5% of net sales of ores or concentrates. Additional production
royalties of 1% to 5% are due if gold exceeds $587 per troy ounce. Also,
annual advance royalties totaling $2,900 are required under the leases. The
advance royalties, charged to expenses as incurred, are accumulated and will
be credited against the production royalty obligations. The lessor may
terminate the leases upon the Company's failure to perform under these terms
of the leases.  The Company may also terminate the leases at any time.  Mine
Systems Design, Inc., the majority shareholder of New Jersey Mining Company -
68.2%, has agreed to fulfill all mineral lease requirements necessary for
mineral lease permits.

                                  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 6, 2002                     By /s/  FRED W. BRACKEBUSCH
      -----------------               ---------------------------------
                                      Fred W. Brackebusch, President,
                                      Treasurer & Director


Date: May 6, 2002                     By /s/ GRANT A. BRACKEBUSCH
      ------------------              ---------------------------------
                                      Grant A. Brackebusch, Vice President &
                                      Director

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