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**UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION**
  Washington, D.C. 20549

FORM 10-QSB

(Mark One)

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

For the Quarterly Period Ended June 30, 2004

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

For the Transition Period from ___________ to _____________

Commission File Number:333-113383

CHILCO RIVER HOLDINGS INC.(Exact name of registrant as specified on its charter)

|NEVADA                                            | 98-0419129         
|------------------------------------------------- | -------------------
|(State or other jurisdiction of                   | (IRS. Employer     
|incorporation or organization)                    | Identification No.)
|                                                  |                    
|420  625 Howe Street                             |                    
|Vancouver, B.C. Canada                            | V6C 2T6            
|(Name and address of principal executive offices) | (Zip Code)         

(604) 618-0948(Registrants telephone number, including area code)

Indicate by check mark whether the registrant: (1) has filed
  all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
  Act of 1934 during the 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  ̈
  No x

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
  DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant filed all documents
  and reports required to be field by Section 12, 13 or 15(d) of the Securities
  Exchange Act of 1934 after the distribution of securities under a plan confirmed
  by a court. Yes  ̈ No  ̈

APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares outstanding of each of the registrants
  classes of common equity, as of the latest practicable date: 3,032,000 shares
  issued and outstanding as of August 12, 2004.

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PART I  FINANCIAL INFORMATION

Item 1.     Financial Statements

2

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Chilco River Holdings Inc. 
  (An Exploration Stage Company)

June 30, 2004

|                                  | Index
|--------------------------------- | -----
|                                  |      
|Balance Sheets                    | F-1  
|                                  |      
|Statements of Operations          | F-2  
|                                  |      
|Statements of Cash Flows          | F-3  
|                                  |      
|Notes to the Financial Statements | F-4  

F-i

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Chilco River Holdings Inc.
  (An Exploration Stage Company) 
  Balance Sheet 
  (Expressed in U.S. dollars)

|                                                              | June 30,    |   | December 31, |  
|------------------------------------------------------------- | ----------- | - | ------------ | -
|                                                              | 2004        |   | 2003         |  
|                                                              | $           |   | $            |  
|                                                              | (unaudited) |   | (audited)    |  
|                                                              |             |   |              |  
|ASSETS                                                        |             |   |              |  
|Current Assets                                                |             |   |              |  
|Cash                                                          | 13,424      |   | 37,266       |  
|Prepaid expenses                                              | 87          |   |             |  
|Total Assets                                                  | 13,511      |   | 37,266       |  
|                                                              |             |   |              |  
|LIABILITIES AND STOCKHOLDERS EQUITY                          |             |   |              |  
|Current Liabilities                                           |             |   |              |  
|Accounts payable                                              | 8,773       |   | 50           |  
|Accrued liabilities                                           | 3,500       |   | 12,239       |  
|Total Liabilities                                             | 12,273      |   | 12,289       |  
|                                                              |             |   |              |  
|Commitments and Contingencies (Notes 1 and 4)                 |             |   |              |  
|Stockholders Equity                                          |             |   |              |  
|Common Stock, 100,000,000 shares authorized, $0.001 par value |             |   |              |  
|3,032,000 shares issued and outstanding                       | 3,032       |   | 3,032        |  
|Additional Paid in Capital                                    | 48,018      |   | 48,018       |  
|Donated Capital (Note 3)                                      | 14,000      |   | 8,000        |  
|Deficit Accumulated During the Exploration Stage              | (63,812     | ) | (34,073      | )
|Total Stockholders Equity                                    | 1,238       |   | 24,977       |  
|Total Liabilities and Stockholders Equity                    | 13,511      |   | 37,266       |  

The accompanying notes are an integral part of these financial
  statements

F-1

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Chilco River Holdings Inc.
  (An Exploration Stage Company) 
  Statement of Operations 
  (Expressed in U.S. dollars)
  (Unaudited)

|                                       | From                |   |               |   |              |   | From                |  
|-------------------------------------- | ------------------- | - | ------------- | - | ------------ | - | ------------------- | -
|                                       | May 8, 2003         |   | For the Three |   | For the Six  |   | May 8, 2003         |  
|                                       | (Date of Inception) |   | Months Ended  |   | Months Ended |   | (Date of Inception) |  
|                                       | to June 30,         |   | June 30,      |   | June 30,     |   | to June 30,         |  
|                                       | 2004                |   | 2004          |   | 2004         |   | 2003                |  
|                                       | $                   |   | $             |   | $            |   | $                   |  
|                                       |                     |   |               |   |              |   |                     |  
|Revenue                                |                    |   |              |   |             |   |                    |  
|                                       |                     |   |               |   |              |   |                     |  
|Expenses                               |                     |   |               |   |              |   |                     |  
|General and administrative             | 877                 |   | 26            |   | 877          |   |                    |  
|Interest and bank charges              | 288                 |   | 40            |   | 207          |   | 15                  |  
|Licenses, dues and fees                | 2,397               |   | 529           |   | 1,144        |   |                    |  
|Management fees (Note 3)               | 7,000               |   | 1,500         |   | 3,000        |   | 1,000               |  
|Mineral property acquisition costs     | 12,500              |   |              |   |             |   |                    |  
|Professional fees                      | 33,750              |   | 10,084        |   | 21,511       |   |                    |  
|Rent (Note 3)                          | 7,000               |   | 1,500         |   | 3,000        |   | 1,000               |  
|                                       | 63,812              |   | 13,679        |   | 29,739       |   | 2,015               |  
|Net Loss For the Period                | (63,812             | ) | (13,679       | ) | (29,739      | ) | (2,015              | )
|                                       |                     |   |               |   |              |   |                     |  
|Net Loss Per Share  Basic and Diluted |                     |   | (0.01         | ) | (0.01        | ) | (0.00               | )
|                                       |                     |   |               |   |              |   |                     |  
|Weighted Average Shares Outstanding    |                     |   | 3,032,000     |   | 3,032,000    |   | 2,000,944           |  

The accompanying notes are an integral part of these financial
  statements

F-2

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Chilco River Holdings Inc. 
  (An Exploration Stage Company) 
  Statement of Cash Flows 
  (Expressed in U.S. dollars) 
  (Unaudited)

|                                                 |              |   | From                |  
|------------------------------------------------ | ------------ | - | ------------------- | -
|                                                 | For the Six  |   | May 8, 2003         |  
|                                                 | Months Ended |   | (Date of Inception) |  
|                                                 | June 30,     |   | to June 30,         |  
|                                                 | 2004         |   | 2003                |  
|                                                 | $            |   | $                   |  
|                                                 |              |   |                     |  
|Cash Flows Used In Operating Activities          |              |   |                     |  
|Net loss for the period                          | (29,739      | ) | (2,015              | )
|Adjustment to reconcile net loss to cash used in |              |   |                     |  
|operating activities:                            |              |   |                     |  
|Donated services                                 | 6,000        |   | 2,000               |  
|Changes in operating assets and liabilities:     |              |   |                     |  
|Prepaid expenses                                 | (87          | ) |                    |  
|Accounts payable                                 | 8,723        |   |                    |  
|Accrued liabilities                              | (8,739       | ) |                    |  
|Net Cash Used in Operating Activities            | (23,842      | ) | (15                 | )
|Cash Flows To Investing Activities               |             |   |                    |  
|Cash Flows From Financing Activities             |              |   |                     |  
|Proceeds from issuance of common stock           |             |   | 4,562               |  
|Finders
      fee paid                          |             |   |                    |  
|Net Cash Flows Provided By Financing Activities  |             |   | 4,562               |  
|Increase (Decrease) In Cash                      | (23,842      | ) | 4,547               |  
|Cash - Beginning of Period                       | 37,266       |   |                    |  
|Cash - End of Period                             | 13,424       |   | 4,547               |  
|                                                 |              |   |                     |  
|Non-cash Investing and Financing Activities      |             |   |                    |  
|                                                 |              |   |                     |  
|Supplemental Disclosures                         |              |   |                     |  
|Interest paid                                    |             |   |                    |  
|Income taxes paid                                |             |   |                    |  

The accompanying notes are an integral part of these financial
  statements

F-3

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Chilco River Holdings Inc. 
  (An Exploration Stage Company) 
  Notes to the Financial Statements 
  June 30, 2004 
  (Expressed in U.S. dollars)

|1. | Exploration Stage Company
      The Company was incorporated in the State of Nevada
        on May 8, 2003. The Company has acquired a 100% interest in 16 mineral
        claim units located in British Columbia, Canada.
      The Company is an Exploration Stage Company, as defined
        by Statement of Financial Accounting Standard (SFAS) No.7.
        The Companys principal business is the acquisition and exploration
        of mineral resources. The Company has not presently determined whether
        its properties contain mineral reserves that are economically recoverable.
      These financial statements have been prepared on a going
        concern basis, which implies the Company will continue to realize its
        assets and discharge its liabilities in the normal course of business.
        The Company has never generated revenues since inception and has never
        paid any dividends and is unlikely to pay dividends or generate earnings
        in the immediate or foreseeable future. The continuation of the Company
        as a going concern is dependent upon the continued financial support from
        its shareholders, the ability of the Company to obtain necessary equity
        financing to continue operations and to determine the existence, discovery
        and successful exploitation of economically recoverable reserves in its
        resource properties, confirmation of the Companys interests in the
        underlying properties, and the attainment of profitable operations. As
        at June 30, 2004, the Company has working capital of $1,238 and has accumulated
        losses of $63,812 since inception. These financial statements do not include
        any adjustments to the recoverability and classification of recorded asset
        amounts and classification of liabilities that might be necessary should
        the Company be unable to continue as a going concern. These factors raise
        substantial doubt regarding the Companys ability to continue as
        a going concern.
      The Company filed an SB-2 Registration Statement with
        the United States Securities and Exchange Commission that was declared
        effective August 6, 2004 to register 1,032,000 shares of common stock
        for resale by existing shareholders of the Company. The Company did not
        receive any proceeds from the resale of shares of common stock by the
        selling stockholders.
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|2. | Summary of Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|   | c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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F-4

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Chilco River Holdings Inc. 
  (An Exploration Stage Company) 
  Notes to the Financial Statements 
  June 30, 2004 
  (Expressed in U.S. dollars)

|2. | Summary of Significant Accounting Policies (continued)
|-- | ------------------------------------------------------
|   |                                                       
|   | e)                                                    
|   |                                                       
|   | f)                                                    
|   |                                                       
|   | g)                                                    
|   |                                                       
|   | h)                                                    
|   |                                                       
|   | i)                                                    
|   |                                                       
|   | j)                                                    
|   |                                                       
|3. | Related Party Balances/Transactions                   
|   |                                                       
|   | a)                                                    

F-5

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Chilco River Holdings Inc. 
  (An Exploration Stage Company) 
  Notes to the Financial Statements 
  June 30, 2004
  (Expressed in U.S. dollars)

|4. | Mineral Properties
      The Company entered into a Sale and Acquisition Agreement
        dated November 3, 2003 with Nicholson & Associates Natural Resource
        Development Inc. (Nicholson) to acquire a 100% interest in
        one unpatented mineral claim representing 16 units located in British
        Columbia, Canada. To acquire a 100% interest in these claims, the Company
        paid $12,500 representing $3,906 for research, $1,563 for claim staking,
        $3,125 for a geological report and $3,906 of assessment costs. The claims
        are subject to a 2.5% net smelter returns royalty and a 7.5% gross rock
        royalty. Advance royalty payments of $25,000 are due each year commencing
        November 3, 2006 until the commencement of commercial production. The
        total amount paid, $12,500, was charged to operations during the period
        ended December 31, 2003.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|5. | Subsequent Event
      The Company filed an amended SB-2 Registration Statement
        (SB-2) with the United States Securities and Exchange Commission
        that was declared effective on August 6, 2004 to register 1,032,000 shares
        of common stock for resale by existing shareholders of the Company. The
        Company did not receive any proceeds from the resale of shares of common
        stock by the selling stockholders. The Company, however, will pay for
        all expenses incurred related to the filing of the SB-2.                                                                                                                                                                                                                                                                                                                                                                          

F-6

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Item 2.     Plan of Operations

The following discussion and analysis explains the major factors
  affecting our financial condition. We are a start-up, exploration stage company
  and have not yet generated or realized any revenues from our business operations.
  We must raise cash in order to implement our plan and stay in business.

Our continued existence and plans for future growth depend
  on our ability to obtain the capital necessary to operate by issuance of additional
  equity shares. We have sufficient funds to take us through our initial exploration
  program and meet our obligations for the short term. Our working capital is
  not sufficient to enable us to perform further exploration phases beyond the
  first geological exploration phase on the property. Accordingly, we will require
  additional financing in order to meet all of our anticipated operating expenses
  and for any new exploratory expenses.

Recent Developments

We are currently preparing to commence the initial work program
  on our PEG Claim (estimated at $2,560). When completed, a geological report
  will determine whether or not it is recommended that further exploration is
  carried out on the property.

The Company filed an amended SB-2 Registration Statement with
  the United States Securities and Exchange Commission which became effective
  on August 6, 2004 to register 1,032,000 shares of common stock for resale by
  existing shareholders of the Company. The Company will not receive any proceeds
  from the resale of shares of common stock by the selling stockholders. The Company,
  however, plans to pay for the costs of the proposed offering.

Plan of Operations

Our plan of operations is to conduct mineral exploration activities
  on the PEG Claim in order to assess whether it possesses commercially exploitable
  mineral deposits. Our exploration program is designed to explore for commercially
  viable deposits of nickel, copper, palladium, platinum, cobalt, chromium, gold
  and silver. We have not, nor has any predecessor, identified any commercially
  exploitable reserves of these minerals on the PEG Claim. We are an exploration
  stage company and there is no assurance that a commercially viable mineral deposit
  exists on the PEG Claim.

At this time we are uncertain of the number of mineral exploration
  phases we will conduct before concluding that there are, or are not, commercially
  viable minerals on the PEG Claim. Further phases beyond the current initial
  exploration program will be dependent upon a number of factors such as our consulting
  geologists recommendations based upon ongoing exploration program results
  and our available funds.

Since we are in the exploration stage of our business plan,
  we have not yet earned any revenues from our planned operations. As of June
  30, 2004 we have incurred a total of $12,500 in acquisition costs for the property.
  We have sufficient funds to take us through our initial exploration program,
  which we anticipate will be completed by April 2005. Our working capital is
  not sufficient to enable us to perform further exploration phases beyond the
  first geological exploration phase on the property. Accordingly, we will require
  additional financing in the event that further exploration is needed.

Once we receive results from our initial work program we will
  assess whether to proceed to any further exploration phases. In making this
  determination we will make an assessment as to whether the results are sufficiently
  positive to enable us to obtain the financial necessary to proceed.

Should a follow-up exploration program be undertaken on the
  PEG Claim, it would likely commence in the summer of 2005. The cost and scope
  of this second exploration program is estimated at $18,208.

Results of Operations  Six Months Ended June 30, 2004

We did not earn any revenues during the six months ended June
  30, 2004. We do not anticipate earning revenues until such time as we have entered
  into commercial production of our mineral property. We are presently in the
  exploration stage of our business and we can provide no assurance that we will
  discover commercially exploitable levels of mineral resources on our property,
  or if such resources are discovered, that we will enter into commercial production.

3

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We incurred operating expenses in the amount of $29,739 for
  the six months ended June 30, 2004, the majority of which expenses were professional
  fees of $21,511 incurred in connection with the SB-2 filing with the SEC.

We incurred a loss in the amount of $29,739 for the six months
  ended June 30, 2004.

The President of the Company provides management services
  and office premises to the company. The services are valued at $500 per month
  and the office premises are valued at $500 per month. During the period ended
  June 30, 2004 donated services of $3,000 and donated rent expense of $3,000
  were charged to operations.

Liquidity and Capital Resources

There is limited financial information about our company upon
  which to base an evaluation of our performance. We are an exploration stage
  company and have not generated any revenues from operations.

Our continued existence and plans for future growth depend
  on our ability to obtain the capital necessary to operate by the sale of equity
  shares. We will need to raise additional capital to fund normal operating costs
  and exploration efforts. If we are not able to generate sufficient revenues
  and cash flows or obtain additional or alternative funding, we will be unable
  to continue as a gong concern. Our recurring losses and negative cash flow from
  operations raise substantial doubt about our ability to continue as a going
  concern.

As at June 30, 2004 we had cash of $13,424 and a working capital
  of $1,238.

We have not declared or paid dividends on our shares since
  incorporation and do not anticipate doing so in the foreseeable future.

New Accounting Pronouncements

In December 2003, the United States Securities and Exchange
  Commission issued Staff Accounting Bulletin No. 104, Revenue Recognition
  (SAB 104), which supersedes SAB 101, Revenue Recognition in
  Financial Statements. The primary purpose of SAB 104 is to rescind accounting
  guidance contained in SAB 101 related to multiple element revenue arrangements,
  which was superseded as a result of the issuance of EITF 00-21, Accounting
  for Revenue Arrangements with Multiple Deliverables. While the wording
  of SAB 104 has changed to reflect the issuance of EITF 00-21, the revenue recognition
  principles of SAB 101 remain largely unchanged by the issuance of SAB 104. The
  adoption of SAB 104 did not have a material impact on the Companys financial
  statements.

Forward-Looking Statements

Our plan of operations includes a number of forward looking
  statements that reflect managements current views with respect to future
  events and financial performance. Those statements include statements regarding
  the intent, belief or current expectations of us and members of our management
  team as well as the assumptions on which such statements are based. Prospective
  investors are cautioned that any such forward-looking statements are not guarantees
  of future performance and involve risk and uncertainties, and that actual results
  may differ materially from those contemplated by such forward-looking statements.

Readers are urged to carefully review and consider the various
  disclosures made by us in this report and in our other filings with the Securities
  and Exchange Commission. Important factors currently known to management could
  cause actual results to differ materially from those in forward-looking statements.
  We undertake no obligation to update or review forward-looking statements to
  reflect changed assumptions, the occurrence of unanticipated events or changes
  in the future operating results over time. We believe that managements
  assumptions are based upon reasonable data derived from and known about our
  business and operations and the business and operations of the Company. No assurances
  are made that actual results of operations or the results of our future activities
  will not differ materially from its assumptions.

Item 3.     Controls and Procedures

Based on their most recent review, which was completed within
  90 days prior to the filing of this report, the Companys president and
  secretary-treasurer have concluded that the Companys disclosure controls
  and procedures are effective to ensure

4

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that information required to be disclosed by the Company in
  the reports that it files or submits under the Securities Exchange Act of 1934,
  as amended, is accumulated and communicated to the Companys management,
  including its president and secretary-treasurer, as appropriate to allow timely
  decisions regarding required disclosure and are effective to ensure that such
  information is recorded, processed, summarized and reported within the time
  periods specified in the SECs rules and forms. There are no significant
  changes in the Companys internal controls or in other factors that could
  significantly affect those controls subsequent to the date of their evaluation.

PART II  OTHER INFORMATION

Items 1 to 5.Not applicable.

Item 6.     Exhibits and Reports on Form 8-K

|(a) | Exhibits            
|--- | --------------------
|    |                     
|    | 31.1                
|    |                     
|    | 31.2                
|    |                     
|    | 32.1                
|    |                     
|    | 32.2                
|    |                     
|(b) | Reports on Form 8-K.
|    |                     
|    | None                

SIGNATURES

In accordance with the requirements of the Exchange Act, the
  registrant caused this report to be signed on its behalf by the undersigned,
  thereunto duly authorized on August 13, 2004.

| | CHILCO RIVER HOLDINGS INC.
| | --------------------------
| |                           
| | By:                       
| |                           
| |                           
| |                           
| |                           
| | By:                       
| |                           
| |                           
| |                           

5

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