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, 2005       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, 2005, 12,867,250 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, 2005 and December 31, 2004

                                    March 31, 2005       December 31, 2004
ASSETS

Current Assets
   Cash                                  $   20,520             $    9,857
   Accounts receivable                        3,505                  3,966
   Inventory                                724,529                927,812
   Other current assets                         774                  1,161
                                         ----------             ----------
     Total current assets                   749,328                942,796
                                         ----------             ----------

Mining Property
   Real estate and property rights
      net of depletion of $524,145          181,091                181,091
   Real estate and mineral property         473,403                473,403
                                         ----------             ----------
                                            654,494                654,494
                                         ----------             ----------
Fixed Assets at Cost
   Equipment                                953,515                953,515
   Buildings                                159,487                159,487
   Vehicles                                 253,128                253,128
                                         ----------             ----------
                                          1,366,130              1,366,130
Less accumulated depreciation            (1,250,268)            (1,243,368)
                                         ----------             ----------
     Net fixed assets                       115,862                122,762
                                         ----------             ----------
Other Assets
   Bonds and misc. deposits                  16,185                 16,185
                                         ----------             ----------

     Total Assets                        $1,535,869             $1,763,237
                                         ==========             ==========

LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable &
      accrued expenses                   $  250,830                256,621
Due to related party                        182,925                156,291
Notes payable due within one year           412,462                421,421
                                         ----------             ----------
     Total Current Liabilities              846,217                834,333
                                         ----------             ----------
Long Term Liabilities
   Notes payable due after one year           6,540                  7,267
                                         ----------             ----------
     Total Liabilities                      852,757                841,600
                                         ----------             ----------

Stockholders' Equity
   Capital stock, par value $.03:
     30,000,000 shares authorized:
     12,867,250 shares issued and
     outstanding as of March 31, 2005 and
     December 31, 2004                      428,869                428,869
   Additional paid-in capital             1,875,888              1,875,888
   (Accumulated deficit)
      retained earnings                  (1,621,645)           (1,410,120)
                                         ----------             ----------
     Total Stockholders' Equity             683,112                894,637
                                         ----------             ----------
Total Liabilities and
  Stockholders' Equity                   $1,535,869             $1,736,237
                                         ==========             ==========

                              See Accompanying Notes

<page>

                         Original Sixteen to One Mine, Inc.
                     Statement of Operations and Retained Earnings


                             Three Months Ending March 31,
                                      2005            2004
                                    ------          ------
Revenues:
  Gold & jewelry sales            $   85,408  $   245,178
                                   -----------   -----------
     Total revenues                   85,408       245,178
                                 -----------   -----------
Operating expenses:
  Salaries and wages                  44,213        32,197
  Contract Labor                     151,989        28,227
  Telephone & utilities               27,129        31,601
  Taxes - property & payroll          10,292        8,650
  Insurance                              387         1,925
  Supplies                             9,306        10,766
  Small equipment & repairs           11,898         3,658
  Drayage                              6,365         3,581
  Corporate expenses                   1,000         2,600
  Compliance/safety                    1,531         5,720
  Legal and accounting                 3,551         4,658
  Depreciation & amortization          6,899         7,968
  Other expenses                       6,609        17,282
                                   ----------   ----------
  Total operating expenses           281,169       158,833
                                 ----------    ----------
  Profit (Loss) from operations    (195,761)        86,345

Other Income & (Expense):
  Other Income (expense)            (15,765)       (4,432)
                                 ----------    -----------
Profit (Loss) before taxes         (211,526)        81,913
                                 ----------    -----------
Net Profit (Loss)             $     (211,526) $     81,913
                               ============    ===========

Basic and diluted (Loss)
   Gain per share            $         (.016)  $      .006
                                 ============    ============
Shares used in the
   calculation of net
   loss income per share           12,867,250    12,867,250
                                 ============    ===========


                              See Accompanying Notes

<page>


                      Original Sixteen to One Mine, Inc.
                           Statement of Cash Flows
         Three Months Ended March 31, 2005 and March 31, 2004

                                              Three Months Ended March 31,
                                               2005                   2004
                                         --------------         --------------
Cash Flows From Operating Activities:

Net profit (loss)                       $       (211,525)         $     81,913
  operating activities:
     Depreciation and amortization                  6,899                7,968
     (Increase)Decrease in
        accounts receivable                           461             (11,460)
     Decrease(Increase) in inventory              203,284               11,057
     (Increase)Decrease in other
       current assets                                 387                1,125
     (Decrease) increase in accounts payable
       and accrued expenses                       (5,791)               25,220
    (Decrease) increase in short term notes        17,675             (29,501)

                                            ------------            ----------
  Net cash (used) provided by
     operating activities                          11,390               86,322
                                            ------------            -----------

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                 (727)              (6,981)
  Proceeds from sale of common stock               -                       -
  Additional paid-in capital                       -
                                               ------------       ------------
  Net cash provided (used) by
    financing activities                            (727)              (7,062)
                                               ------------        ------------

  (Decrease) increase in cash                      10,663                7,432

Cash, beginning of period                           9,857                 -
                                                ------------         ----------
Cash, end of period                            $   20,520         $      7,432
                                               ============        ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $     17,326          $     14,990
                                             ============          ============

                              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, 2005 and
December 31, 2004, the results of operations and cash flows for the three-month
periods ended March 31, 2005 and 2004.  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.  According to statement by the federal Mines
Safety Health Administration, it is the only underground single product (gold)
mine operating in the United States today.  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 as gemstones.  This produces revenue
significantly greater than selling gold into the spot market.  Demand for
Sixteen to One mine quartz and gold exceeds supply.

Production has been termed a "hit or miss" 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 patented claims.  A specific review of the plan will be
announced at the annual shareholders' meeting on June 25, 2005, in Alleghany,
California.  The Company has about 1200 shareholders of record.

During the first quarter of 2005, miners spent half of their time with routine
maintenance. They spent about a quarter of their time establishing three new
underground headings and about one quarter of their time looking for gold.
Production results reflect the scaled down operation.

BALANCE SHEET COMPARISONS

For the three-month period ending March 31, 2005 assets decreased by $227,368
(13%) as gold inventory and jewelry inventory were sold to maintain operations.

Liabilities did not change substantially during the same three-month period.

STATEMENT OF OPERATIONS

Revenues for the three-month period ending March 31, 2005 decreased by $159,770
(65%) compared with the same period for 2004 due to a lack of gold production
and a nine dollar per ounce decrease in the gold price during the quarter.

Changes in the Company's operating expenses for the three-month period ended
March 31, 2005 compared to the same period in 2004 are reflected as follows:

1.  Contract labor increased by $123,762 (438%) as the lessee's crew was
expanded.

2. Small equipment and repairs increased by $8,240 (225%) due to the cost
of replacing some worn out equipment.

3. Drayage increased by $2,784 (77%) for the three-month period ended March 31,
2005, compared with the same period for 2004, due primarily to vehicle repairs
that were required.

4.  Other expenses decreased by $10,673 (61%) primarily due to refinery fees
in the first quarter of 2004 for refining sulfides which were not incurred
in the same period of 2005.

5.  For the three-month period ended March 31, 2005, the Company recorded a
loss of $211,526 (before taxes) compared to a profit of $81,913 (before taxes)
for the same period in 2004.  The $293,443 (358%) difference is attributed
primarily to a lack of gold production in the 2005 quarter.

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.Petition in United States Court of appeals for the Ninth Circuit, filed March
 23, 2004 contesting MSHA's interpretation of its standard.  Docket Number
04-71301.

2. 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)

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, 2005.

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 9, 2005