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 Quarter Ended March 31, 2008       Commission File No. 001-10156



                          ORIGINAL SIXTEEN TO ONE MINE, INC.
                (Exact name of registrant as specified in its charter)



                   CALIFORNIA                            94-0735390
      (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporated or organization)

                     Post Office Box 909, Alleghany, CA  95910
                      (Address of principal executive offices)


                                    (530) 287-3223
                            (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
requirement for the past 90 days.

                        Yes:  x                     No:



As of March 31, 2008, 12,905,505 shares of Common Stock, par value $.03 per
share, were issued and outstanding.

<page>


                                   PART I

1.  FINANCIAL INFORMATION

                        Original Sixteen to One Mine, Inc.
                              Condensed Balance Sheet
                     March 31, 2008 and December 31, 2007

                                    March 31, 2008       December 31, 2007
ASSETS

Current Assets
   Cash                                  $    6,909              $     642
   Accounts receivable                        2,302                  3,134
   Inventory                                732,018                714,120
   Other current assets                         -                    625
                                         ----------             ----------
     Total current assets                   741,229                718,521
                                         ----------             ----------

Mining Property
   Real estate and property rights
      net of depletion of $524,145          218,287                218,287
   Real estate and mineral property         500,707                500,707
                                         ----------             ----------
                                            718,994                718,994
                                         ----------             ----------
Fixed Assets at Cost
   Equipment                                925,243                925,243
   Buildings                                209,487                209,487
   Vehicles                                 255,128                255,128
                                         ----------             ----------
                                          1,389,858              1,389,858
Less accumulated depreciation            (1,269,568)            (1,264,666)
                                         ----------             ----------
     Net fixed assets                       120,290                125,192
                                         ----------             ----------
Other Assets
   Bonds and misc. deposits                  16,185                 16,185
                                         ----------             ----------

     Total Assets                        $1,596,698             $1,578,892
                                         ==========             ==========

LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable &
      accrued expenses                      354,452                308,454
Due to related party                        732,697                677,598
Notes payable due within one year           432,000                431,000
                                         ----------             ----------
     Total Current Liabilities            1,519,149              1,417,052
                                         ----------             ----------
Long Term Liabilities
   Notes payable due after one year         61,785                58,478
                                         ----------             ----------
     Total Liabilities                    1,580,934              1,475,530
                                         ----------             ----------

Stockholders' Equity
   Capital stock, par value $.03:
     30,000,000 shares authorized:
     12,905,505 shares issued and
     outstanding as of March 31, 2008 and
     12,867,250 shares issued and
     outstanding as of December 31, 2007    425,836                425,377
   Additional paid-in capital             1,911,322              1,898,317
   (Accumulated deficit)
      retained earnings                  (2,321,394)           (2,220,332)
                                         ----------             ----------
     Total Stockholders' Equity              15,764                103,362
                                         ----------             ----------
Total Liabilities and
  Stockholders' Equity                   $1,596,698             $1,578,892
                                         ==========             ==========

                              See Accompanying Notes

<page>

                         Original Sixteen to One Mine, Inc.
                     Statement of Operations and Retained Earnings
                Three Months Ended March 31, 2008 and March 31, 2007

                             Three Months Ending March 31,
                                      2008            2007
                                    ------          ------
Revenues:
  Gold & jewelry sales            $  100,430  $    126,019
                                   -----------   -----------
     Total revenues                  100,430       126,019
                                 -----------   -----------
Operating expenses:
  Salaries and wages                  30,079        19,336
  Contract Labor                       8,286       153,887
  Telephone & utilities               11,517        17,623
  Taxes - property & payroll           9,712         8,759
  Insurance                              846           492
  Supplies                             9,759        13,859
  Small equipment & repairs            4,395        13,172
  Drayage                              6,020        11,577
  Corporate expenses                   2,600         1,000
  Compliance/safety                       25         3,060
  Legal and accounting                88,572         1,517
  Depreciation & amortization          4,902         5,324
  Other expenses                       3,488         6,910
                                   ----------   ----------
  Total operating expenses           180,201       256,516
                                 ----------    ----------
  Profit (Loss) from operations     (79,771)     (130,497)

Other Income & (Expense):
  Other Income (expense)            (20,490)      (24,087)
                                 ----------    -----------
Profit (Loss) before taxes         (100,261)     (154,584)
                                 ----------    -----------
Income Tax Benefit                      800            800
Net Profit (Loss)             $    (101,061)   $  (155,384)
                               ============    ===========

Basic and diluted (Loss)
   Gain per share            $         (.008)   $      (.01)
                                 ============    ============
Shares used in the
   calculation of net
   loss income per share           12,905,505    12,890,204
                                 ============    ===========


                              See Accompanying Notes

<page>


                      Original Sixteen to One Mine, Inc.
                           Statement of Cash Flows
         Three Months Ended March 31, 2008 and March 31, 2007

                                              Three Months Ended March 31,
                                               2008                   2007
                                         --------------         --------------
Cash Flows From Operating Activities:

Net profit (loss)                       $        (101,061)         $  (155,384)
  operating activities:
     Depreciation and amortization                   4,902                5,324
     (Increase)Decrease in
        accounts receivable                            832              (1,290)
     Decrease(Increase) in inventory              (17,898)               63,360
     (Increase)Decrease in other
       current assets                                  625                  492
     (Decrease) increase in accounts payable
       and accrued expenses                         45,997                6,044
    (Decrease) increase in short term notes         56,099               89,886

                                            ------------            ----------
  Net cash (used) provided by
     operating activities                         (10,504)                8,432
                                             ------------           -----------

Cash Flows From Investing Activities:

  Purchase of fixed assets                            -                -
  Other assets bonds misc. deposits                  -                 -
                                             -------------         -----------

  Net cash (used) provided by
    investing activities                           -                   -
                                            -------------          -----------

Cash Flows From Financing Activities

  Increase (decrease) notes payable                  3,307              (7,529)
  Proceeds from sale of common stock                   459                  -
  Additional paid-in capital                        13,005                  -
                                               ------------       ------------
  Net cash provided (used) by
    financing activities                            16,771              (7,529)
                                               ------------        ------------

  (Decrease) increase in cash                        6,267                  903

Cash, beginning of period                              642                1,222
                                                ------------         ----------
Cash, end of period                            $     6,909        $       2,125
                                               ============        ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $      35,873         $     24,599
    Income Taxes                             $         800         $        800
                                             ============          ============

                              See Accompanying Notes
<page>

                        NOTES TO THE FINANCIAL STATEMENTS

I.  GENERAL NOTES

1.  In accordance with directive from the Securities and Exchange Commission
(SEC)and Industry Guide 7, reference for all intent and purposes to the
Company's employees as miners, its properties as mines or its operation as
mining does not diminish the fact that the Company has no proven reserves and
is in the "exploration state" as defined in Guide 7(a)(4)(iii).

2. In the opinion of management, the financial statements contain all
adjustments (consisting only of normal recurring accruals) necessary to present
fairly the Company's financial position at March 31, 2008 and December 31,
2007, the results of operations and cash flows for the three-month periods
ended March 31, 2008 and 2007.  The unaudited financial statements have been
prepared in accordance with Generally Accepted Accounting Principles for
interim financial information and with the instructions to Form 10-QSB and Item
310(b) of Regulation S-B.

II.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION

The Sixteen to One mine in the Alleghany Mining District is a unique mine and
requires a unique operation, which has been recognized by its owners, its
miners, geologists, engineers, and some public agencies during the last decade
of the twentieth century and to the present.  It is a traditional high-grade,
hard rock, underground gold mine.  The same company owns and operates the mine.
Original Sixteen to One Mine Inc, (owner) was incorporated in California in
1911.  Experts estimate that less than twenty percent of the proven and
probable ore deposit has been mined.  Production is approximately 1,500,000
ounces of gold.

There are over twenty-eight miles of horizontal workings and millions of cubic
feet of vertical excavations called stopes.  The entire grounds are not
maintained for mining.  Once an area is targeted for mining, travel ways and
escape routes are brought into safety compliance.  Production miners set up a
heading (face) and begin a drill-blast-muck sequence into the quartz.  Gold is
hosted in the quartz vein in exceedingly rich concentrations called "pockets".
Metal detectors are regularly used underground as a tool for guiding the
direction of the work.  Metal detectors are also used as a tool to separate the
ore underground.  This has the positive affect of reducing the volume of shot
rock from the mine, thereby reducing cost.

In 1992, the company initiated a gold marketing plan of selling gold in quartz
as a gemstone.  This produces revenue significantly greater than selling gold
into the spot market.  Demand for the Sixteen to One gold-in-quartz gemstone
exceeds supply.

Production has been termed a "feast or famine" situation for over 100 years.
Reserves in a high-grade gold mine cannot be termed as "proven".  The company
hoards gold and sells it according to short-term cash needs.  This fact
requires an operator to manage its cash flow to operate between pockets.  It is
difficult to undertake major expansion plans with an uncertain supply of
capital.  The Company has announced general plans to build a new shaft in the
northern section of its Alleghany patented claims.


BALANCE SHEET COMPARISONS

For the three-month period ending March 31, 2008 assets did not change
significantly.

Accounts payable increased by $45,998 (15%) due mainly to the booking of
legal fees.  See item # 7 below.

There were no other significant changes in the balance sheet.

STATEMENT OF OPERATIONS

Revenues for the three-month period ending March 31, 2008 decreased by $25,589
(20%) compared with the same period for 2007 due to a lack of gold production.

Changes in the Company's operating expenses for the three-month period ended
March 31, 2008 compared to the same period in 2007 are reflected as follows:

1.  Salaries and wages increased by $10,743 (56%) as wages were booked to
accrued wages for two employees.

2.  Contract labor decreased by $145,601 (95%) as the number of contract
workers decreased substantially at the end of 2007.

3.  Telephone and utilities decreased by $6,106 (35%) as the result of heavy
snow which resulted in power outages as well as an adjustment to the electrical
bill as a result of estimated billings during the heavy snow period being too
high (PG&E could not access the meter so used estimates, this included the
month of December 2007).

4.  Supplies decreased by $4,100 (30%) due to a maintenance-only operation
in 2008.

5.  Small equipment and repairs decreased by $8,777 (67%) for the same reason
as item four above.

6.  Drayage decreased by $5,557 (48%) because of our maintenance-only status.

7.  Legal and accounting increased by $87,055 (5,739%) due to the issuance of
an order on January 7, 2008 for plaintiff Original Sixteen to One Mine, Inc. to
reimburse defendants CDAA et al $88,376 for attorneys fees.  See legal
proceedings.
8.  Other expenses decreased by $3,422 (50%) because of the maintenance-only
status.

9. Total operating expenses decreased by $76,315 (30%) due to the mine
being on maintenance only status.

10.  For the three-month period ended March 31, 2008, the Company recorded a
loss of $100,261 (before taxes) compared to a loss of $154,584 (before taxes)
for the same period in 2007.  The $54,323 (35%) difference is attributed to the
lack of gold production (both years) combined with a maintenance-only operation
in 2008.

LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity is substantially dependent upon the results of its
operations.  While the Company does maintain a gold inventory which it can
liquidate to satisfy working capital needs, there can be no assurance that such
inventory will be adequate to sustain operations if the Company's gold mining
activities are not successful.  Because of the unpredictable nature of the gold
mining business, the Company cannot provide any assurance with respect to
long-term liquidity.  In addition, if the Company's operation does not produce
meaningful additions to inventory, the Company may determine it is necessary to
satisfy its working capital needs by selling gold in bullion form.

The Company is dependent on continued recovery of gold and sales of gold from
inventory to meet its cash needs.  If the Company's cash resources are
inadequate and its gold inventory is depleted, the Company may seek debt or
equity financing on the most reasonable terms available.

PART II

LEGAL PROCEEDINGS

1. Plaintiff in Superior Court of the State of California, County of Sierra
against private lawyers and their employer.  Case filed February 13, 2004.
Case No. 6293, Complaint for Damages (Malicious Prosecution, Intentional
Infliction of Emotional Distress, Intentional Interference with Perspective
Advantage).  Defendants appealed their loss of an anti-slap motion to the
California Appeals Court, Third District which overturned the Superior Court
decision on May 8, 2007.  The Company filed a Petition for Review with the
California Supreme Court on June 18, 2007, which was denied.  On January 7,
2008 Superior Court visiting Judge R. Michael Smith issued an order for
plaintiff Original Sixteen to One Mine, Inc. to reimburse defendants CDAA et al
$88,376 for attorneys fees.  This case is now closed.


SUBSEQUENT EVENTS

none

OTHER INFORMATION

The unaudited interim consolidated financial statements of Original Sixteen to
One Mine, Inc. (the Company) have been prepared by management in accordance
with generally accepted accounting practices.  Such rules allow the omission of
certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted audited accounting
principles as long as the statements are not misleading.

In the opinion of management, verified by signature below, all adjustments
necessary for a fair presentation of these interim statements have been
included.  These adjustments are of a normal recurring nature.

The preparation of the Company's financial statements in conformity with
accounting principles accepted in the United States requires management to make
estimates and assumptions.  These estimates and assumptions affect the reported
amounts of assets and liabilities and disclosure of contingent liabilities at
the date of the financial statements, as well as the reported amount of
revenues and expenses during the reporting period.  On an ongoing basis,
management evaluates its estimates and assumptions; however, actual amounts
could differ from those based on such estimates and assumptions.  No accounting
principle upon which the Company's financial status depends, requires estimates
of proven and probable reserves and/or assumptions of future gold prices.
Commodity prices may significantly affect the company's profitability and cash
flow.  No independent accounting firm or auditors have any responsibility for
the accounting and written statements of the Form 10-QSB.

The Company and its president assume responsibility for the accuracy of this
filing and certify the financial statements present fairly in all material
respects, the financial position of Original Sixteen to One Mine, Inc at March
31, 2008.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time the Original Sixteen to One Mine, Inc.  (the Company), will
make written and oral forward-looking statements about matters that involve
risks and uncertainties that could cause actual results to differ materially
from projected results.  Important factors that could cause actual results to
differ materially include, among others:

- Fluctuations in the market prices of gold
- General domestic and international economic and political
  conditions
- Unexpected geological conditions or rock stability conditions
  resulting in cave-ins, flooding, rock-bursts or rock slides
- Difficulties associated with managing complex operations in remote areas
- Unanticipated milling and other processing problems
- The speculative nature of mineral exploration
- Environmental risks
- Changes in laws and government regulations, including those
  relating to taxes and the environment
- The availability and timing of receipt of necessary governmental
  permits and approval relating to operations, expansion of operations,
  and financing of operations
- Fluctuations in interest rates and other adverse financial market conditions
- Other unanticipated difficulties in obtaining necessary financing with
  specifications or expectations
- Labor relations
- Accidents
- Unusual weather or operating conditions
- Force majeure events
- Other risk factors described from time to time in the Original Sixteen to One
Mine, Inc., filings with the Securities and Exchange Commission

Many of these factors are beyond the Company's ability to control or predict.
Investors are cautioned not to place undue reliance on forward-looking
statements.  The Company disclaims any intent or obligation to update its
forward-looking statements, whether as a result of receiving new information,
the occurrence of future events or otherwise.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant)


/s/Michael M. Miller
President and Director
Dated:  May 14, 2008