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 March 31, 2004
                                    --------------

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT

     For the transition period from _ _ _ _ _ _ _ _ _ _  to _ _ _ _ _ _ _ _ _ _

     Commission file number 0-27447
                            -------

EURASIA GOLD FIELDS, INC
------------------------
(Exact name of small business issuer as specified in its charter)

Florida                                                      98-0190293
-------                                                      ----------
(State or other jurisdiction of incorporation or             (IRS Employer
          organization)                                      Identification No.)

PO Box 28165, Harbour Centre, 555 West Hastings Street,
-------------------------------------------------------
Vancouver, BC Canada V6B 5L8
----------------------------
(Address of principal executive offices)

(604) 687-4701
--------------
(Issuer's Telephone Number)

__________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report)

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 preceding 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 [X]  NO [ ]

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

Check, whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15 (d) of the Exchange Act after the distribution of
securities under a plan confirmed by court.

YES [ ]  NO [ ]

APPLICABLE ONLY TO CORPORATE  ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  the  latest practicable date: 15,315,000 shares of Common Stock
were  outstanding  as  of  October  31,  2004.

Transitional Small Business Disclosure Format (check one);

YES [ ] NO [X]


<PAGE>
                            EURASIA GOLD FIELDS, INC.

This quarterly report contains statements that plan for or anticipate the future
and  are  not  historical facts. In this Report these forward looking statements
are  generally  identified  by  words  such  as "anticipate," "plan," "believe,"
"expect,"  "estimate,"  and the like. Because forward looking statements involve
future  risks  and  uncertainties,  these  are  factors  that could cause actual
results  to  differ  materially  from  the  estimated  results.  These risks and
uncertainties  are  detailed  in  Part  1  -  Financial  Information  -  Item 1.
"Financial Statements," Item 2. "Management's Discussion and Analysis or Plan of
Operation."

The  Private  Securities  Litigation  Reform Act of 1995, which provides a "safe
harbor" for such statements, may not apply to this Report.


                                      INDEX

                                                                        Page No.
PART I.  Financial  Information

Item 1.  Financial  Statements
         Balance  Sheets  --                                                   3
         March 31, 2004 and December 31, 2003

         Statements of Operations --                                           4
         Three-months Ended March 31, 2004

         Statements of Cash Flows --                                           5
         Three-months Ended March 31, 2004

         Notes to Consolidated Financial Statements                            6

Item 2.  Management's Discussion and Analysis of
         Financial Condition and Results of Operations                         9

Item 3.  Controls and Procedures                                              12

PART II. Other Information

Item 1.  Legal Proceedings                                                    12

Item 2.  Changes in Securities                                                12

Item 3.  Defaults Upon Senior Securities                                      12

Item 4.  Submission of Matters to a Vote of Security Holders                  12

Item 5.  Other Information                                                    12

Item 6.  Exhibits and Reports on Form 8-K                                     13

Signatures                                                                    13


                                        2
<PAGE>
<TABLE>
<CAPTION>
EURASIA GOLD FIELDS, INC. & SUBSIDIARIES
(An exploration stage enterprise)

Consolidated Balance Sheets (Unaudited)
March 31, 2004 and December 31, 2003
(Expressed in U.S. Dollars)
------------------------------------------------------------------------------
                                                     March 31     December 31
                                                       2004          2003
------------------------------------------------------------------------------
<S>                                                <C>           <C>
ASSETS

Current
  Cash                                             $    33,529   $     31,035
  Other receivables                                     11,114         15,474
  Available-for-sale securities                        114,673         65,783
  Materials and supplies                                38,867         35,653
  Prepaid expenses and other assets                     44,309         41,197
------------------------------------------------------------------------------
Total current assets                                   242,492        189,142

Mineral properties and exploration licences                  -              -
Plant and equipment                                    543,350        487,747
------------------------------------------------------------------------------
Total assets                                       $   785,842   $    676,889
------------------------------------------------------------------------------

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
Current liabilities
  Accounts payable and accrued liabilities         $   144,569   $    121,852

Long-term debt - related party                         369,929        369,929
------------------------------------------------------------------------------
Total liabilities                                      514,498        491,781
------------------------------------------------------------------------------

Stockholders' Equity

Share capital,
  Authorized
    50,000,000 common shares, par value $0.001
  Issued and outstanding:
    14,415,000 (2003 - 14,415,000) common shares        14,415         14,415
Additional paid in capital                           6,101,594      6,101,594
Common stock to be issued                              649,975        549,975
Accumulated deficit during the development stage    (6,471,972)    (6,409,318)
Accumulated other comprehensive income (loss)          (22,668)       (71,558)
------------------------------------------------------------------------------
Total stockholders' equity                             271,344        185,108
------------------------------------------------------------------------------
Total liabilities and stockholders' equity         $   785,842   $    676,889
==============================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.


                                        3
<PAGE>
<TABLE>
<CAPTION>
EURASIA GOLD FIELDS, INC. & SUBSIDIARIES
(An exploration stage enterprise)

Consolidated Statements of Operations (Unaudited)
(Expressed in U.S. Dollars)
--------------------------------------------------------------------------------------------
                                                May 22,1995     Three months    Three months
                                             (inception) to            Ended           Ended
                                                   March 31         March 31        March 31
                                                       2004             2004            2003
--------------------------------------------------------------------------------------------
<S>                                         <C>               <C>             <C>

General and administrative expenses
  Administrative and general                $       650,819   $      24,382   $      31,793
  Depreciation                                       87,522           7,330           6,458
  Foreign exchange (gain) loss                      (41,533)        (34,531)          6,616
  Interest expense                                   71,095             543             401
  Professional fees - accounting and legal          182,011          11,952           2,783
  Salaries and consulting fees                      237,448          23,522          26,602
  Stock-based compensation                        3,716,200               -               -
--------------------------------------------------------------------------------------------
                                                  4,903,562          33,198          74,653
Exploration expenses                              1,635,076          29,456          87,977
--------------------------------------------------------------------------------------------
Total expenses                                    6,538,638          62,654         162,630
--------------------------------------------------------------------------------------------
Other income
  Interest income                                    61,980               -               -
  Gain (loss) on sale of securities                   4,686               -               -
--------------------------------------------------------------------------------------------
Total other income                                   66,666               -               -
Net (loss) for the period                   $    (6,471,972)  $     (62,654)  $    (162,630)
============================================================================================

Loss per share                                                $       (0.00)  $       (0.01)
============================================================================================

Weighted average shares outstanding                              14,415,000      13,011,419
============================================================================================
</TABLE>

The accompanying notes are an integral part of these financial statements.


                                        4
<PAGE>
<TABLE>
<CAPTION>
EURASIA GOLD FIELDS, INC. AND SUBSIDIARIES
(An exploration stage enterprise)

Consolidated Statement of Cash Flows (Unaudited)
(Expressed in U.S. Dollars)
------------------------------------------------------------------------------------------------------------
                                                                      May 22    Three months    Three months
                                                            1995 (inception)           Ended           Ended
                                                                 to March 31        March 31        March 31
                                                                        2004            2004            2003
------------------------------------------------------------------------------------------------------------
<S>                                                        <C>                <C>             <C>

Cash flows from (used in) operating activities
  Net (loss) for the period                                $     (6,471,972)  $     (62,654)  $    (162,630)
  Adjustments to reconcile net loss to net cash used
  in operating activities
  - depreciation                                                    111,732           7,330           6,458
  - realized loss (gain) on sale of marketable securities            (4,687)              -               -
  - imputed interest expense                                         59,809               -               -
  - issuance of common stock for                                          -
    mineral properties                                                7,000               -               -
  - stock-based compensation                                      3,716,200               -               -
  Changes in assets and liabilities:
  - decrease (increase) in receivables                             (133,455)          4,360          (9,251)
  - decrease (increase) in inventories                              (38,867)         (3,214)        (54,515)
  - decrease (increase) in prepaid expenses and deposits            (44,309)         (3,112)        147,696
- increase(decrease) in accounts payable                            149,569          22,717          43,165
------------------------------------------------------------------------------------------------------------
Net cash used in operating activities                            (2,648,980)        (34,573)        (29,077)
------------------------------------------------------------------------------------------------------------

Cash flows from (used in) investing activities
  Proceeds from sale of securities                                  209,970               -               -
  Purchase of available for sale securities                        (220,283)              -               -
  Purchase of property plant and equipment                         (655,082)        (62,933)       (134,651)
------------------------------------------------------------------------------------------------------------
Net cash used in investing activities                              (665,395)        (62,933)       (134,651)
------------------------------------------------------------------------------------------------------------

Cash flows from financing activities
  Proceeds from issuance of common stock                          2,428,000         100,000          99,975
  Proceeds from borrowings                                          919,904               -         (13,641)
------------------------------------------------------------------------------------------------------------
Net cash from financing activities                                3,347,904         100,000          86,334
------------------------------------------------------------------------------------------------------------

Increase (decrease) in cash for the period                           33,529           2,494         (77,394)

Cash and cash equivalents, beginning of period                            -          31,035         136,367
------------------------------------------------------------------------------------------------------------

Cash and cash equivalents, end of period                   $         33,529   $      33,529   $      58,973
============================================================================================================

Non-cash operating and financing activities
  Shares issued for settlement of debts                                       $           -   $     238,578
  Available-for-sale securities received from debt
  settlement                                                                              -               -
------------------------------------------------------------------------------------------------------------
Total                                                                         $           -   $     238,578
============================================================================================================
</TABLE>

The accompanying notes are an integral part of these financial statements


                                        5
<PAGE>
     Notes to Interim Consolidated Financial Statements (Unaudited)
     --------------------------------------------------------------

1. Nature of Business and Continuance of Operations

     The  Company was incorporated under the laws of the State of Florida on May
     22,  1995 as Snack-N-Pop Vending, Inc. On March 2, 1998 the Company changed
     its  name  to Eurasia Gold Fields, Inc. and is in the business of location,
     acquisition,  exploration  and,  if  warranted,  development  of  mineral
     properties.  The  Company  has  not  yet  determined whether its properties
     contain  mineral  reserves  that  may  be  economically  recoverable.

     These  financial statements have been prepared in accordance with generally
     accepted  accounting  principles  applicable  to  a  going  concern,  which
     contemplates  the realization of assets and the satisfaction of liabilities
     and  commitments  in  the  normal  course of business. The general business
     strategy of the Company is to acquire mineral properties either directly or
     through  the acquisition of operating entities. The continued operations of
     the  Company  and the recoverability of mineral property costs is dependent
     upon  the  existence  of  economically  recoverable  mineral  reserves,
     confirmation  of  the  Company's interest in the underlying mineral claims,
     the  ability  of  the Company to obtain necessary financing to complete the
     development and upon future profitable production. The Company has incurred
     recurring  operating  losses  and  requires  additional  funds  to meet its
     obligations  and maintain its operations. Management's plans in this regard
     are  to  raise  equity  financing  as  required.

     These  conditions  raise  substantial  doubt about the Company's ability to
     continue  as a going concern. These financial statements do not include any
     adjustments  that  might  result  from  this  uncertainty.

     The Company has not generated any operating revenues to date.

2. Basis of Presentation

     The  accompanying  unaudited  condensed  financial  statements  have  been
     prepared  in  accordance  with generally accepted accounting principles for
     interim financial information and with the instructions for Form 10-QSB and
     Item  310(b)  of  Regulation  S-B. Accordingly, they do not include all the
     information  and  footnotes  required  by  generally  accepted  accounting
     principles for complete financial statements. In the opinion of management,
     all  adjustments  (consisting  only  of  normal  recurring  adjustments)
     considered  necessary for a fair presentation have been included. Operating
     results for the three-month period ended March 31, 2004 are not necessarily
     indicative  of the results that may be expected for the year ended December
     31,  2004.

     The  balance  sheet  at December 31, 2003 has been derived from the audited
     financial  statements  at  that date. The consolidated financial statements
     and  footnotes  thereto  included  in  the Eurasia Gold Fields, Inc. Annual
     Report  on  Form  10-KSB  for  the  year  ended December 31, 2003 should be
     reviewed  in  connection  with  these  condensed  consolidated  financial
     statements.

3. Significant Accounting Policies

     (a)  Accounting Estimates

          The  preparation  of financial statements in conformity with generally
          accepted  accounting  principles requires management to make estimates
          and  assumptions  that  affect  the  reported  amounts  of  assets and
          liabilities and disclosure of contingent assets and liabilities at the
          date  of  the  financial  statements  and


                                        6
<PAGE>
          the  reported  amounts  of  revenues and expenses during the reporting
          period.  Actual  results  could  differ  from  those  estimates  and
          assumptions.

     (b)  Materials and Supplies

          Materials  and  supplies  are  stated  at  the  lower  of  cost or net
          realizable  value.  Cost  is  determined using the first-in, first-out
          method  and comprise of fuel, spare parts and other materials used for
          the  exploration  process.

     (c)  Plant and Equipment

          Plant and equipment are carried at cost less accumulated depreciation.
          Depreciation  of  plant  and  equipment is computed on a straight-line
          basis  over  their  expected  useful lives. Depreciation is applied to
          them  from  the  month  in  which  they  are  acquired.

     (d)  Mineral Properties and Exploration Expenses

          Exploration  costs  are  charged  to operations as incurred until such
          time  that proven reserves are discovered. From that time forward, the
          Company  will capitalize all costs to the extent that future cash flow
          from  mineral  reserves  equals  or  exceeds  the  costs deferred. The
          deferred  costs will be amortized over the recoverable reserves when a
          property  reaches  commercial  production.  As  at  March 31, 2004 and
          December  31,  2003,  the  Company  did  not  have  proven  reserves.

          Costs  of  initial  acquisition  of mineral rights and concessions are
          capitalized  until  the properties are abandoned or the right expires.

          Exploration  activities conducted jointly with others are reflected at
          the  Company's  proportionate  interest  in  such  activities.

          Costs  related  to site restoration programs are accrued over the life
          of  the  project.

     (e)  Stock-Based Compensation

          The  Company  has  adopted  the  fair  value  method of accounting for
          stock-based  compensation as recommended by the Statement of Financial
          Accounting  Standards  No.  123 (SFAS 123), Accounting for Stock-based
          Compensation.

          The  adoption  of  SFAS  123  does not have an impact on the Company's
          financial  statements.

          The Company did not grant any stock options during the period.

     (f)  Available-for-sale Securities

          Available-for-sale  securities  are  carried at fair market value with
          unrealized  holding  gains  and  losses  included  as  a  component of
          accumulated other comprehensive loss, unless a permanent impairment in
          value  has  occurred,  which  is  then charged to operations. Realized
          gains  and  losses  are  determined  on  an  average  cost  basis when
          securities  are  sold.

     (g)  Advertising Expenses

          The  Company  expenses  advertising  costs  as incurred. There were no
          advertising  expenses  incurred  by  the  Company for the three months
          ended  March  31,  2004 and the twelve months ended December 31, 2003.


                                        7
<PAGE>
     (h)  Long-Lived Assets Impairment

          Long-lived  assets  are  reviewed  for  impairment  whenever events or
          changes  in circumstances indicate that the carrying amount may not be
          recoverable,  in accordance with the Statement of Financial Accounting
          Standards  No.  144  (SFAS  144),  Accounting  for  the  Impairment or
          Disposal  of Long-Lived Assets. An impairment loss would be recognized
          when  the  carrying  amount  of  an  asset  exceeds  the  estimated
          undiscounted  future cash flows expected to result from the use of the
          asset  and its eventual disposition. The amount of the impairment loss
          to  be  recorded  is  calculated by the excess of the asset's carrying
          value  over its fair value. Fair value is generally determined using a
          discounted  cash  flow  analysis.

     (i)  Accounting for Derivative Instruments and Hedging Activities

          The  Company  has  adopted  the  Statement  of  Financial  Accounting
          Standards No. 133 (SFAS 133) Accounting for Derivative Instruments and
          Hedging  Activities,  which  requires  companies  to  recognize  all
          derivative  contracts  as  either assets or liabilities in the balance
          sheet  and  to  measure  them at fair value. If certain conditions are
          met,  a  derivative  may  be  specifically  designated as a hedge, the
          objective  of which is to match the timing of gain or loss recognition
          on  the  hedging derivative with the recognition of (i) the changes in
          the  fair value of the hedged asset or liability that are attributable
          to  the  hedged  risk  or  (ii)  the  earnings  effect  of  the hedged
          forecasted  transaction.  For a derivative not designated as a hedging
          instrument,  the gain or loss is recognized in income in the period of
          change.

          Historically,  the  Company  has not entered into derivative contracts
          either  to  hedge  existing  risks  or  for  speculative purposes. The
          Company  does  not  anticipate that the adoption of the statement will
          have  a  significant  impact  on  its  financial  statements.

     (j)  Income Taxes

          The  Company  has  adopted  the  Statement  of  Financial  Accounting
          Standards  No.  109  (SFAS  109),  Accounting  for income Taxes, which
          requires  the Company to recognize deferred tax liabilities and assets
          for  the  expected  future  tax  consequences of events that have been
          recognized  in the Company's financial statements or tax returns using
          the  liability method. Under this method, deferred tax liabilities and
          assets  are  determined based on the differences between the financial
          statement  carry amounts and tax bases of assets and liabilities using
          enacted  tax rates in effect in the years in which the differences are
          expected  to  reverse.

     (k)  Loss Per Share

          Earnings  (loss)  per  share  is  computed  using the weighted average
          number  of shares outstanding during the year. The Company has adopted
          Statement  of  Financial  Accounting  Standards  No.  128  (SFAS 128),
          Earnings Per Share. Diluted loss per share is equivalent to basic loss
          per share because there is no potential dilutive securities.

4 Fixed Assets
<TABLE>
<CAPTION>
----------------------------------------------------
                            March 31    December 31
                              2004         2003
----------------------------------------------------
<S>                        <C>         <C>

Cost                       $ 193,888   $    299,323
Accumulated depreciation     (77,212)       (69,882)
----------------------------------------------------
Net book value               116,676        229,441
Equipment to be installed    426,674        258,306
----------------------------------------------------
Total                      $ 543,350   $    487,747
====================================================
</TABLE>


                                        8
<PAGE>
5    Common shares outstanding

     As  at  March 31, 2004, the Corporation's authorized capital stock consists
     of  50,000,000  common  shares  with a par value of $0.001 per share. There
     were  14,415,000  common  shares  issued and outstanding at March 31, 2004.

6.   Stock Options Outstanding

     At  March  31,  2004  and  December  31,  2003  the  Company had no options
     outstanding.

7.   Related Party Transactions

     Related  party  transactions  not  disclosed  elsewhere  in these financial
     statements  include:

     a)   During  the  three  month  period  ended  March 31, 2004, salaries and
          consulting  fees  of $0 (fiscal 2003 - $0) were paid or are payable to
          directors.

     Except  as otherwise noted, these transactions are recorded at the exchange
     amount,  being  the value established and agreed to by the related parties.

8.   Reclassifications

     Certain  reclassifications of prior-year balances have been made to conform
     to  current  year  classifications.
___________________________________________________________________________


ITEM 2.  MANAGEMENT'S' DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

(A)  General

     The  Company  is  a  mineral exploration company with offices in Vancouver,
     Canada  and  Moscow,  Russia and is engaged in the exploration for precious
     metals. The Company was incorporated under the laws of the State of Florida
     on  May  22, 1995 as Snack-N-Pop Vending, Inc. On March 2, 1998 the Company
     changed  its  name  to  Eurasia Gold Fields, Inc. and is in the business of
     location,  acquisition,  exploration  and,  if  warranted,  development  of
     mineral  properties.

     This  document contains numerous forward-looking statements relating to the
     Company's  business. The United States Private Securities Litigation Reform
     Act  of  1995  provides  a  "safe  harbor"  for  certain  forward-looking
     statements. Operating, exploration and financial data, and other statements
     in  this document are based on information the company believes reasonable,
     but  involve significant uncertainties as to future gold and silver prices,
     costs,  ore  grades,  estimation  of  gold  and silver reserves, mining and
     processing  conditions, changes that could result from the Company's future
     acquisition  of  new mining properties or businesses, the risks and hazards
     inherent  in  the  mining  business  (including  environmental  hazards,
     industrial  accidents,  weather  or  geologically  related  conditions),
     regulatory  and permitting matters, and risks inherent in the ownership and
     operation  of, or investment in, mining properties or businesses in foreign
     countries.  Actual results and timetables could vary significantly from the
     estimates  presented.  Readers  are  cautioned not to put undue reliance on
     forward-looking  statements. The Company disclaims any intent or obligation
     to update publicly these forward-looking statements, whether as a result of
     new  information,  future  events  or  otherwise.

(B)  Significant developments during the three month period ended March 31, 2004
     and  Subsequent  Events

     During  the  three  month  period ended March 31, 2004 the Company issued 0
     (fiscal  2003  -  0)  common  shares  for cash of $0 (fiscal 2003 - $0) and
     issued  0  (fiscal  2003  -  1,192,887)  shares  upon the exercise of stock
     options  for  gross  proceeds  of  $0  (fiscal  2003  -  $238,578).


                                        9
<PAGE>
     The  Company  conducted exploration programs for gold mineralization on its
     properties  in  the  Okinski  district  of  the  Republic  of  Buryatiya in
     south-eastern  Siberia,  Russia.

(C)  Exploration and Development

     The  Company  controls  mineral  exploration  concessions  in  the  Okinski
     district of the Republic of Buryatiya in south-eastern Siberia, Russia. The
     Company's  strategy is to concentrate its investigations into: (i) Existing
     operations  where  an  infrastructure  already  exists;  (ii)  Properties
     presently  being  developed  and/or in advanced stages of exploration which
     have  potential  for  additional  discoveries;  and  (iii)  Grass-roots
     exploration  opportunities.

     The  Company  is  currently concentrating its exploration activities in the
     Buryatiya  Region  of  Russia.

     Exploration  expenses during the three-months ended March 31, 2004 totalled
     $29,456 (fiscal 2003 - $87,977).

     The  Company's properties are in the exploration stage only and are without
     a known body of Mineral Reserves. Development of the properties will follow
     only  if satisfactory exploration results are obtained. Mineral exploration
     and  development involves a high degree of risk and few properties that are
     explored  are  ultimately  developed  into  producing  mines.  There  is no
     assurance that the Company's mineral exploration and development activities
     will  result  in  any  discoveries  of  commercially  viable  bodies  of
     mineralization.  The  long-term  profitability  of the Company's operations
     will  be,  in  part,  directly  related  to  the  cost  and  success of its
     exploration  programs,  which  may  be  affected  by  a  number of factors.

(D)  Results of Operations

     Three  Months  Ended March 31, 2004 (Fiscal 2004) versus Three Months Ended
     March  31,  2003  (Fiscal  2003)

     The Company issued 0 (fiscal 2003 - 0) common shares for cash of $0 (fiscal
     2003  -  0) and issued 0 (fiscal 2003 - 1,192,887) shares upon the exercise
     of stock options for gross proceeds of $0 (fiscal 2003 - $238,578).

     The  Company  had  no  operating  revenues for the three month period ended
     March  31,  2004  (fiscal  2003  -  $0).

     For  the  three  months ended March 31, 2004 the Company recorded a loss of
     $62,654  (fiscal  2003  - $162,630) or $0.00 per share (fiscal 2003 - $0.01
     per  share).

     General  and  administrative  expenses  -  For the three month period ended
     March  31, 2004 the Company recorded general and administrative expenses of
     $25,868  (fiscal  2003  -  $68,195).  The  fiscal  2004  amount  includes,
     professional  fees  - accounting $8,811 (fiscal 2003 - $0) and legal $3,141
     (fiscal  2003  -  $2,783).

     Exploration  expenditures - For the three month period ended March 31, 2004
     the  Company  recorded  exploration  expenses  of  $29,456  (fiscal  2003 -
     $87,977).

     Amortization expenditures - For the three month period ended March 31, 2004
     the  Company  recorded depreciation costs of $7,330 (fiscal 2003 - $6,458).

(E)  Capital Resources and Liquidity

     At  March  31, 2004 the Company had cash of $33,529 (fiscal 2003 - $58,973)
     and  a  working capital of $97,923 (fiscal 2003 working capital - $247,762)
     respectively.  Total liabilities as of March 31, 2004 were $514,498 (fiscal
     2003  -  $432,130),  an  increase of $82,368. During the three month period
     ended  March  31,  2004  the  Company issued 0 common shares for cash of $0
     (fiscal  2003  -  0) and issued 0 (fiscal 2003 - 1,192,887) shares upon the
     exercise  of  stock  options  for  gross  proceeds  of  $0  (fiscal  2003 -
     $238,578).  During  the  three  month period ended March 31, 2004 investing
     activities  consisted  of additions to mineral properties $0 (fiscal 2003 -
     $0)  and additions to plant and equipment $62,933 (fiscal 2003 - $134,651).
     For  the  three  month  period  ended


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     March  31,  2004  the Company recorded a net loss of $62,654 (fiscal 2003 -
     $162,630) or $0.00 per share (fiscal 2003 - $0.01 per share).

     The  Company  does  not  have  sufficient  working  capital  to (i) pay its
     administrative and general operating expenses through December 31, 2004 and
     (ii)  to  conduct  its  preliminary exploration programs. Without cash flow
     from operations, it may need to obtain additional funds (presumably through
     equity  offerings  and/or  debt  borrowing)  in  order,  if  warranted,  to
     implement  additional  exploration  programs  on its properties. Failure to
     obtain such additional financing may result in a reduction of the Company's
     interest  in  certain  properties or an actual foreclosure of its interest.
     The  Company has no agreements or understandings with any person as to such
     additional  financing.

     The  Company's  exploration  properties  have  not  commenced  commercial
     production and the Company has no history of earnings or cash flow from its
     operations.  While  the  Company may attempt to generate additional working
     capital  through the operation, development, sale or possible joint venture
     development  of  its property, there is no assurance that any such activity
     will  generate  funds  that  will  be  available  for  operations.

(F)  Plans for the Years 2004 and 2005

     During  the  next  12  months the Company intends to raise additional funds
     through  equity  offerings  and/or  debt  borrowing  to  meet  its
     administrative/general  operating  expenses  and  to  conduct  work  on its
     exploration  property.

     The  Company will concentrate its exploration activities on the two mineral
     exploration  concessions  in  the  Okinski  district  of  the  Republic  of
     Buryatiya  in  south-eastern  Siberia  and  examine  data  relating  to the
     potential  acquisition  or joint venturing of additional mineral properties
     in  either  the exploration or development stage in the Russian Federation.
     Additional employees will be hired on a consulting basis as required by the
     exploration  projects.

     The  Company's  exploration  work  program in 2004/2005 will entail surface
     mapping  of  geology,  sampling  of  soils  on  a  grid  basis to delineate
     geochemical  anomalies, stream sediment sampling and geophysical surveying.
     The  data  assembled  from this work will be used to determine whether: (i)
     further  exploration  and  diamond core drilling is warranted and if so the
     sites  for  initial  holes;  (ii)  whether  certain  claim blocks should be
     surrendered;  or  (iii)  additional  surrounding  claim blocks be acquired.

(G)  Application of Critical Accounting Policies

     The  preparation  of  its  consolidated  financial  statements requires the
     Company  to  use estimates and assumptions that affect the reported amounts
     of  assets  and liabilities as well as revenues and expenses. The Company's
     accounting  policies  are  described  in  note  2  to its December 31, 2003
     financial  statements.  The  Company's  accounting  policies  relating  to
     materials  and  supplies,  depreciation  and  amortization  of  plant  and
     equipment  and  the  capitalization  of  mineral  property  acquisition,
     exploration and development costs are critical accounting policies that are
     subject  to  estimates  and  assumptions  regarding  future  activities.

     See  note  3(b) Significant Accounting Policies - Materials and Supplies in
     the  notes  to the Interim Financial Statements for the Company's policy on
     materials  and  supplies.

     See  note 3(c) Significant Accounting Policies - Plant and Equipment in the
     notes  to  the  Interim  Financial  Statements  for the Company's policy on
     depreciation.

     See  note  3(d)  Significant  Accounting  Policies - Mineral Properties and
     Exploration  Expenses  in the notes to the Interim Financial Statements for
     the  Company's  policy  on  exploration  costs  and  expenses.

     Generally accepted accounting principles require the Company to consider at
     the  end  of  each  accounting  period  whether  or  not  there has been an
     impairment  of  the  capitalized  property,  plant  and  equipment.  This
     assessment  is  based  on  whether factors that may indicate the need for a
     write-down  are  present.  If  the  Company  determines  there  has been an
     impairment,  then  the Company would be required to write-down the recorded
     value  of  its  property,  plant and equipment costs which would reduce the
     Company's  earnings  and  net  assets.


                                       11
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(H)  Off-balance Sheet Arrangements and Contractual Obligations

     The Company does not have any off-balance sheet arrangements or contractual
     obligations  that  are  likely  to  have or are reasonably likely to have a
     material  current  or  future  effect on the Company's financial condition,
     changes  in  financial  condition,  revenues  or  expenses,  results  of
     operations,  liquidity, capital expenditures or capital resources that have
     not  been  disclosed  in  the  Company's  financial  statements.

(I)  Market Risk Disclosures

     The  Company  has  not  entered  into  derivative contracts either to hedge
     existing  risks  or  for  speculative  purposes.


ITEM 3.  Controls and Procedures

     (a)  Within 90 days prior to the date of this report, the Company completed
          an  evaluation of the effectiveness of the design and operation of its
          disclosure controls and procedures. Disclosure controls and procedures
          are  designed to ensure that the material financial, and non-financial
          information,  required  to be disclosed on Form 10-QSB, and filed with
          the  Securities  and  Exchange  Commission  is  recorded,  processed,
          summarized  and  reported  in a timely manner. Based on the foregoing,
          the  Company's management, including the President and Chief Financial
          Officer,  have  concluded  that  the Company's disclosure controls and
          procedures  (as  defined  in  Rules  240.13a-15  or  240.15d-15 of the
          Securities  Exchange  Act  of  1934,  as  amended)  are  effective.

     (b)  There have been no significant changes in our internal controls, or in
          other  factors,  that  could  significantly  affect  these  controls
          subsequent to the date of the evaluation hereof. No corrective actions
          were  taken,  therefore,  with  regard to significant deficiencies and
          material  weaknesses.


                         PART 11.     OTHER INFORMATION

ITEM 1.  Legal Proceedings

         The  Company  is  not  party to any litigation, and has no knowledge of
         any  pending  or  threatened  litigation  against  it.

ITEM 2.  Changes in Securities

         Not Applicable

ITEM 3.  Defaults Upon Senior Securities

         Not Applicable

ITEM 4.  Submission of Matters to a Vote of Security Holders

         Not Applicable

ITEM 5.  Other Information

         None.


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<PAGE>
ITEM 6.  Exhibits and Reports on Form  8-K

(a)  Exhibits:

3.1.1  Certificate of Incorporation*
3.1.2  Certificate of Amendment to the Certificate of Incorporation*
3.2.1  By-laws*
13.1   Form 10-KSB for the Year Ended December 31, 2003*
31.1   Certification of Chief Executive Officer and Chief Financial Officer
       pursuant to Section 302 of the Sarbanes-Oxley  Act  of  2002
32.1   Certification of Chief Executive Officer and Chief Financial Officer
       pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99.1   Corporate Governance Principles*
--------
*  Previously  Filed

(b)  Reports on Form 8-K

  No reports on Form 8-K were filed during the last quarter of the period
  covered by this report.
________________________________________________________________________________



                                   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.


                                     Eurasia Gold Fields, Inc.
                                     ----------------------------
                                     Registrant

Date: November 10, 2004              BY: /s/ Jorge L. Lacasa
      -----------------                  -------------------
                                         Jorge L. Lacasa
                                         Director


Date: November 10, 2004              BY: /s/ Agustin Gomez de Segura
      -----------------                  ---------------------------
                                         Agustin Gomez de Segura
                                         Director


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