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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC  20549


                                   FORM 10-Q

                Quarterly Report  Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                For the quarterly period ended March 31, 2000

                         Commission file number 001-03323

                             PRINCETON MINING COMPANY
             (Exact name of registrant as specified in its charter)

            IDAHO                                       82-6008727
(State or other jurisdiction of                    (IRS Employer
incorporation or organization)                     Identification Number)

                                 413 Cedar Street
                                  Wallace, Idaho
                     (Address of principal executive offices)

                                       83873
                                     (Zip Code)

                                  (208) 752-1131
               (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 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 CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of March 31, 2000:                9,569,140











**************************************************************************


<PAGE>

                                     PART I


ITEM  1     REVIEWED  FINANCIAL  STATEMENTS  FOR  THE  THREE  MONTH PERIOD ENDED
MARCH  31,  2000




                            PRINCETON MINING COMPANY
                              FINANCIAL STATEMENTS
                                 MARCH 31, 2000




                              WILLIAMS & WEBSTER PS
                          CERTIFIED PUBLIC ACCOUNTANTS
                        BANK OF AMERICA FINANCIAL CENTER
                           W 601 RIVERSIDE, SUITE 1940
                                SPOKANE, WA 99201
                                 (509) 838-5111


                            PRINCETON MINING COMPANY

                                TABLE OF CONTENTS

                                 March 31, 2000




ACCOUNTANT'S  REVIEW  REPORT                                1

FINANCIAL  STATEMENTS

     Balance  Sheets                                        2

     Statements  of  Operations                             3

     Statement  of  Stockholders'  Equity  (Deficit)        4

     Statements  of  Cash  Flows                            5

NOTES  TO  FINANCIAL  STATEMENTS                            6















<PAGE>



Board  of  Directors
Princeton  Mining  Company
Wallace,  Idaho


                           Accountant's Review Report
                           --------------------------

We  have reviewed the accompanying balance sheet of Princeton Mining Company, as
of  March  31,  2000,  and  the  related statements of operations, stockholders'
equity, and cash flows for the three-months then ended. All information included
in  these  financial  statements  is  the  representation  of  the management of
Princeton  Mining  Company.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A  review  of  interim financial
information  consists principally of applying analytical procedures to financial
data  and  making  inquiries of persons responsible for financial and accounting
matters.  It  is  substantially  less  in scope than an audit in accordance with
generally  accepted auditing standards, the objective of which is the expression
of an opinion regarding the financial statements taken as a whole.  Accordingly,
we  do  not  express  such  an  opinion.

Based  on our review, we are not aware of any material modifications that should
be  made  to  the  accompanying  financial statements in order for them to be in
conformity  with  generally  accepted  accounting  principles.

The financial statements for the year ended December 31, 1999 were audited by us
and  we  expressed an unqualified opinion on it in our report dated February 29,
2000.  We  have  not  performed  any  auditing  procedures  since  that  date.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue as a going concern.  As discussed in Note 2, the Company
has had no revenues, has an accumulated deficit of $708,772 since inception, and
has  negative working capital at March 31, 2000.  Realization of a major portion
of  the  assets  is  dependent  upon  the  Company's  ability to meet its future
financing  requirements,  and  the  success of future operations.  These factors
raise  substantial  doubt  about  the  Company's  ability to continue as a going
concern.  Management's  plans regarding those matters also are described in Note
2.  The  financial  statements  do not include any adjustments that might result
from  the  outcome  of  this  uncertainty.



Williams  &  Webster,  P.S.
Certified  Public  Accountants
Spokane,  Washington
May  9,  2000











<PAGE>
                            PRINCETON MINING COMPANY
                                 BALANCE SHEETS


<TABLE>
                                              March  31,        December  31,
                                                 2000               1999
                                             (Unaudited)
                                           ---------------    ---------------
<S>                                        <C>                <C>
A  S  S  E  T  S

CURRENT  ASSETS
     Cash                                  $           87     $          113
                                           ---------------    ---------------
          Total Current Assets                         87                113
                                           ---------------    ---------------

     OTHER  ASSETS
     Mining claims                                 10,000             10,000
                                           ---------------    ---------------

               TOTAL ASSETS                $       10,087     $       10,113
                                           ===============    ===============

L I A B I L I T I E S  A N D  S T O C K H O L D E R S '  E Q U I T Y
(D E F I C I T)

CURRENT  LIABILITIES
     Accounts  payable                      $       6,352     $        7,073
     Accrued expenses                               2,711                -
     Loans from a related party                    33,000             28,400
                                           ---------------    ---------------

          Total Current Liabilities                42,063             35,473
                                           ---------------    ---------------

COMMITMENTS AND CONTINGENCIES                         -                  -
                                           ---------------    ---------------

STOCKHOLDERS'  EQUITY  (DEFICIT)
     Preferred stock, $0.10 par value,
       1,000,000 shares authorized;
       no shares issued and outstanding               -                   -
     Common stock, $0.10 par value,
       29,000,000  shares  authorized;
       9,569,140 shares issued
       and outstanding                            956,914             956,914
     Discount on common stock                    (280,681)           (280,681)
     Additional paid-in-capital                       563                 563
     Accumulated deficit                         (708,772)           (702,156)
                                           ---------------    ---------------

     TOTAL STOCKHOLDERS' EQUITY (DEFICIT)         (31,976)            (25,360)
                                           ---------------    ---------------
     TOTAL LIABILITIES AND STOCKHOLDERS'
       EQUITY (DEFICIT)                    $       10,087     $       10,113
                                           ===============    ===============
</TABLE>

See accompanying notes and accountants' review report.

<PAGE>
                            PRINCETON MINING COMPANY
                            STATEMENTS OF OPERATIONS
<TABLE>
                               For the Three-month  For the Three-month
                                  Period Ending        Period Ending
                                 March 31, 2000        March 31, 1999     December 31,
                                  (Unaudited)            (Unaudited)          1999
                               -------------------  --------------------  ------------
<S>                            <C>                  <C>                   <C>
REVENUES                       $              -     $               -     $       -
                               -------------------  --------------------  ------------

E  X  P  E  N  S  E  S

    Filing and recording fees                 -                     -             434
    Legal and professional                  4,400                   -           7,200
    Office expense                          1,516                 2,480         2,112
    Taxes                                      10                    10            10
    Mining exploration and
       engineering expense                    -                     -             613
                               -------------------  --------------------  ------------
TOTAL EXPENSES                              5,926                 2,490        10,369
                               -------------------  --------------------  ------------

LOSS FROM OPERATIONS                       (5,926)               (2,490)      (10,369)

OTHER  INCOME  (EXPENSE)
    Loss on impairment of assets              -                     -         (15,000)
    Interest expense                         (690)                 (400)       (2,021)
                               -------------------  --------------------  ------------

TOTAL OTHER INCOME (EXPENSE)                 (690)                 (400)       (17,021
                               -------------------  --------------------  ------------

LOSS BEFORE INCOME TAXES                   (6,616)               (2,890)      (27,390)

INCOME TAXES                                  -                     -             -
                               -------------------  --------------------  ------------

NET LOSS                       $           (6,616)  $            (2,890)  $   (27,390)
                               ===================  ====================  ============

BASIC AND DILUTED NET LOSS PER
    COMMON  SHARE              $              nil   $               nil   $        nil
                               ===================  ====================  ============

BASIC AND DILUTED WEIGHTED AVERAGE
    NUMBER  OF  COMMON  SHARES
    OUTSTANDING                         9,569,140             9,569,140     9,569,140
                               ===================  ====================  ============
</TABLE>









See accompanying notes and accountants' review report.

<PAGE>
                           PRINCETON MINING COMPANY
                   STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
<TABLE>
                    Common Stock                                            Total
                 ----------------------  Discount    Additional  Accum-     Stockholders'
                 Number                  on Common    Paid-in    ulated     Equity
                 Of Shares     Amount    Stock        Capital    Deficit    (Deficit)
                 ----------  ----------  ----------  ----------  ----------  ----------
<S>              <C>         <C>         <C>         <C>         <C>         <C>
Balance,
  December 31,
  1998            9,569,140  $  956,914  $ (280,681) $      -    $ (674,766) $   1,467

Contribution
  of capital            -           -           -           563         -          563

Loss for year
  ending,
  December 31,
  1999                  -           -           -           -       (27,390)   (27,390)
                 ----------  ----------  ----------  ----------  ----------  ----------

Balance,
  December 31,
  1999            9,569,140     956,914    (280,681)        563    (702,156)   (25,360)

Loss for
  period ending,
  March 31, 2000        -           -           -           -        (6,616)    (6,616)
                 ----------  ----------  ----------  ----------  ----------  ----------
Balance,
  March 31, 2000
  (Unaudited)     9,569,140  $  956,914  $ (280,681) $      563  $ (708,772) $  (31,976)
                 ==========  ==========  ==========  ==========  ==========  ===========

</TABLE>
























See accompanying notes and accountants' review report.

<PAGE>
                            PRINCETON MINING COMPANY
                             STATEMENT OF CASH FLOWS

<TABLE>
                               For the Three-month  For the Three-month
                                  Period Ending        Period Ending
                                 March 31, 2000        March 31, 1999     December 31,
                                  (Unaudited)            (Unaudited)          1999
                               -------------------  --------------------  ------------
<S>                            <C>                  <C>                   <C>
CASH FLOWS FROM OPERATING
  ACTIVITIES

Net loss                       $           (6,616)  $            (2,890)  $   (27,390)
Adjustments to reconcile
  net loss to net cash used
  by  operating  activities:
    Write off of impaired
      mining claims                           -                     -          15,000
Increase (decrease) in
  accounts payable                           (721)                 (999)        1,268
Increase (decrease) in
  accrued expenses                          2,711                  -              -
                               -------------------  --------------------  ------------
Net cash used in
  operating activities                     (4,626)               (3,889)      (11,122)

CASH FLOWS FROM INVESTING
  ACTIVITIES                                  -                     -             -

CASH FLOWS FROM FINANCING
  ACTIVITIES
Proceeds from shareholder
  Advances                                  4,600                 3,900        10,600
Proceeds from shareholder
  contribution of capital                     -                     -             563
                               -------------------  --------------------  ------------
Net cash provided by
  financing activities                      4,600                3,900         11,163
                               -------------------  --------------------  ------------

Change in cash                                (26)                  11             41

Cash, beginning of period                     113                   72             72
                               -------------------  --------------------  ------------

Cash, end of period            $               87   $               83    $       113
                               ===================  ====================  ============

Supplemental  disclosures:

Interest paid                  $               -    $              -      $       -
Income taxes paid              $               -    $              -      $       -

</TABLE>





See accompanying notes and accountants' review report.

<PAGE>
                            PRINCETON MINING COMPANY
                        NOTES TO THE FINANCIAL STATEMENTS
                      MARCH 31, 2000 AND DECEMBER 31, 1999

NOTE  1  -  ORGANIZATION  AND  DESCRIPTION  OF  BUSINESS

Princeton  Mining  Company  (hereinafter  "the  Company")  was  incorporated  on
September  29,  1950  under  the  laws  of the State of Idaho for the purpose of
acquiring,  exploring  and  developing mining properties.  The Company maintains
offices  in  Wallace,  Idaho.  The  Company's  fiscal  year  end is December 31.

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

This  summary  of significant accounting policies of Princeton Mining Company is
presented  to  assist  in understanding the Company's financial statements.  The
financial  statements and notes are representations of the Company's management,
which  is  responsible  for  their  integrity and objectivity.  These accounting
policies  conform  to  generally  accepted  accounting  principles and have been
consistently  applied  in  the  preparation  of  the  financial  statements.

Principal  Business  Activities
-------------------------------

The Company has been in the minerals exploration business since its formation in
September  1950  and  has  not  yet  realized  any significant revenues from its
planned operations.  It is primarily engaged in the acquisition, exploration and
development of mining properties.  Upon location of commercial minable reserves,
the  Company  expects  to  actively  prepare  such  sites for ore extraction and
further  development.

Going  Concern
--------------

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.

As  shown  in  the accompanying financial statements, the Company incurred a net
loss  of  $6,616  for  the  three-month  period  ended March 31, 2000 and has an
accumulated  deficit  of  $708,772.  The  Company  has no sales and has negative
working  capital.  The  future  of  the Company is dependent upon its ability to
obtain  financing  and  upon  future  successful explorations for and profitable
operations from the development of mineral properties.  The financial statements
do not include any adjustments relating to the recoverability and classification
of  recorded assets, or the amounts and classification of liabilities that might
be  necessary  in  the  event  the  Company  cannot  continue  in  existence.

Accounting  Method
------------------

The  Company's  financial  statements  are  prepared using the accrual method of
accounting.











<PAGE>
                            PRINCETON MINING COMPANY
                        NOTES TO THE FINANCIAL STATEMENTS
                      MARCH 31, 2000 AND DECEMBER 31, 1999

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Loss  Per  Share
----------------

Loss  per  share  was  computed by dividing the net loss by the weighted average
number  of shares outstanding during the period.  The weighted average number of
shares  was  calculated by taking the number of shares outstanding and weighting
them  by  the  amount  of time that they were outstanding.  Diluted net loss per
share  is  the same as basic net loss per share as inclusion of the common stock
equivalents  would  be  antidilutive.

Cash  and  Cash  Equivalents
----------------------------

For  purposes  of  the  Statement  of  Cash  Flows,  the  Company  considers all
short-term  debt securities purchased with a maturity of three months or less to
be  cash  equivalents.

Provision  for  Taxes
---------------------

For  income tax reporting purposes, the Company has elected to treat its current
and  historical  operating expenses as capitalizable exploration and development
costs  under  IRC  Code  Section  616  (b).  Accordingly, the Company has no net
operating  loss  carryforwards.

Use  of  Estimates
------------------

The  process  of  preparing  financial  statements  in conformity with generally
accepted  accounting  principles  requires  the use of estimates and assumptions
regarding  certain  types  of assets, liabilities, revenues, and expenses.  Such
estimates  primarily  relate to unsettled transactions and events as of the date
of  the  financial statements.  Accordingly, upon settlement, actual results may
differ  from  estimated  amounts.

Impaired  Asset  Policy
-----------------------

In  March  1995,  the  Financial  Accounting  Standards Board issued a statement
titled  "Accounting for Impairment of Long-lived Assets." In complying with this
standard,  the  Company  reviews its long-lived assets quarterly to determine if
any  events  or changes in circumstances have transpired which indicate that the
carrying  value  of  its  assets  may not be recoverable. The Company determines
impairment  by  comparing  the  undiscounted  future  cash flows estimated to be
generated  by its assets to their respective carrying amounts.  The Company does
not  believe  any additional adjustments are needed to the carrying value of its
assets  at  March  31,  2000.  See  Note  3.

Exploration  Costs
------------------

In  accordance  with  generally  accepted  accounting  principles,  the  Company
expenses  exploration  costs  as  incurred.



<PAGE>
                            PRINCETON MINING COMPANY
                        NOTES TO THE FINANCIAL STATEMENTS
                      MARCH 31, 2000 AND DECEMBER 31, 1999

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Interim  Financial  Statements
------------------------------

The  interim financial statements as of and for the three months ended March 31,
2000,  included  herein have been prepared for the Company, without audit.  They
reflect  all  adjustments, which are, in the opinion of management, necessary to
present  fairly  the  results  of  operations   for  these  periods.   All  such
adjustments are normal recurring adjustments.  The results of operations for the
periods  presented  are not necessarily indicative of the results to be expected
for  the  full  fiscal  year.

Derivative  Instruments
-----------------------

In  June  1998  the  Financial  Accounting  Standards  Board issued Statement of
Financial  Accounting  Standards  ("SFAS")  No.  133, "Accounting for Derivative
Instruments  and  Hedging Activities."  This new standard establishes accounting
and reporting standards for derivative instruments, including certain derivative
instruments  embedded  in  other  contracts,  and  for  hedging  activities.  It
requires  that  an  entity  recognize  all   derivatives  as  either  assets  or
liabilities  in  the  balance sheet and measure those instruments at fair value.

At March 31, 2000, the Company has not engaged in any transactions that would be
considered  derivative  instruments  or  hedging  activities.

NOTE  3  -  MINERAL  PROPERTIES

The  Company  maintains  unpatented mining property east of Mullan, Idaho in the
Coeur  d'Alene  Mining  district  of  Shoshone  County,  Idaho.

During  the  year  ended  December 31, 1999, the Company wrote down the carrying
value  of  its  mining  claims to $10,000, thereby incurring an asset impairment
loss  of  $15,000,  in  recognition  of  the  decreased  value  of  its  mineral
properties.

NOTE  4  -  STOCKHOLDERS'  EQUITY

In prior years, the Company has issued its common stock in exchange for services
at values less than the underlying par value of the Company's common stock.  The
aggregate  effect of such transactions is the Company's recording of $280,681 as
a  discount on common stock in the stockholders' equity section of the Company's
balance  sheet.

In  the  year  ended  December  31,  1999,  a shareholder paid $563 of corporate
expenses  while  relinquishing  the opportunity for repayment.  These funds have
been  recorded as additional paid-in capital in the stockholders' equity section
of  the  Company's  balance  sheet.









<PAGE>
                            PRINCETON MINING COMPANY
                        NOTES TO THE FINANCIAL STATEMENTS
                      MARCH 31, 2000 AND DECEMBER 31, 1999

NOTE  5  -  STOCK  OPTIONS

Although the Company has not adopted a stock option plan, the Company's board of
directors  agreed to grant an option in January 1998 to an outside consultant to
purchase  1,200,000  shares  of  the Company's common stock at a strike price of
$0.01  per  share (which was then the market price).  The exercise of the option
is contingent upon the Company's stock being listed upon the OTC Bulletin Board.
There  is  no written instrument memorializing the length and other terms of the
options,  which  has  not  been  formally granted or exercised as of the date of
these  financial  statements.

NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES

The Company is engaged in the exploration and development of mineral properties.
At  present,  there  are no feasibility studies establishing proven and probable
reserves.

Although  the  minerals   exploration   and  mining  industries  are  inherently
speculative  and  subject  to  complex environmental regulations, the Company is
unaware of any pending litigation or of any specific past or prospective matters
which  could  impair  the  value  of  its  mining  claims.

NOTE  7  -  RELATED  PARTIES

The  Company  occupies  office  space  provided by H. F. Magnuson, a significant
shareholder, at no charge.  The value of this space is not considered materially
significant  for  financial  reporting  purposes.

A  shareholder  and  officer  of  the Company has advanced monies to the Company
totaling  $33,000 at March 31, 2000, in payment of expenses.  These are recorded
as  unsecured  short-term loans, bearing 9% interest and is payable upon demand.



























<PAGE>


ITEM  2     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
CONDITION  AND  RESULTS  OF  OPERATION


The  Company  currently  maintains  ten unpatented mining claims east of Mullan,
Idaho,  in  the  Coeur  d'Alene  Mining District, Shoshone County, Idaho.  As of
March  31,  2000,  current  liabilities  exceeded  current  assets  by  $41,976.

During the quarter ended March 31, 2000, the Company had a net operating loss of
$6,616,  which  was  primarily  due  to  normal  operating  expenses.

                                     PART II

ITEM  1     LEGAL  PROCEEDINGS

NONE

ITEM  2     CHANGES  IN  SECURITIES

NONE

ITEM  3     DEFAULTS  UPON  SENIOR  SECURITIES

NONE

ITEM  4     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

NONE

ITEM  5     OTHER  INFORMATION

NONE

ITEM  6     EXHIBITS  AND  REPORTS  ON  FORM  8-K

NONE
























<PAGE>

*****************************************************************************
                                  SIGNATURES
*****************************************************************************

Pursuant to the requirements of Section 13 of the Securities and Exchange Act of
1934,  the  registrant has duly caused this report to be signed on its behalf by
the  undersigned,  thereunto  duly  authorized.

                            Princeton Mining Company
                            ------------------------
                                  (Registrant)


/s/     H. James Magnuson                       Date:   May 11, 2000
____________________________________            __________________________
H. James Magnuson
President and Director

/s/     Dennis O'Brien                          Date:   May 11, 2000
____________________________________            __________________________
Dennis O'Brien
Secretary-Treasurer and Director



Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following person on behalf of the
registrant and in the capacities and as of the date indicated.




/s/     H. James Magnuson                       Date: May 11, 2000
____________________________________            __________________________
H. James Magnuson
President and Director

/s/     Dennis O'Brien                          Date: May 11, 2000
____________________________________            __________________________
Dennis O'Brien
Secretary-Treasurer and Director