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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 September 30, 1999

                         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 September 30, 1999:                9,563,340











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


<PAGE>

                                     PART I





ITEM  1   Statement  of  Financial  Position  as  of September 30,  1999
          and  December  31,1998

          Statement  of  Operations  for  the  Three  and Nine  Month
          Periods  Ended September 30,  1999  and  1998

          Statement  of  Changes  in  Stockholders'  Equity
          for  the  Three  Month Periods Ended September 30, 1999 and 1998

          Statement  of  Cash  Flows  for  the  Three  and Nine  Month
          Periods  Ended September 30,  1999  and  1998

          Notes  to  Financial  Statements  as  of September 30,  1999










































<PAGE>

PRINCETON MINING COMPANY
Statement of Financial Position as of
September 30, 1999 and December 31, 1998
(UNAUDITED)

<TABLE>

                                             September 30,       December 31,
                                                 1999              1998
                                             ____________      ____________
<C>                                          <S>               <S>
ASSETS

CURRENT ASSETS - Cash                         $      85          $      72

PROPERTY

    Mining claims                                 25,000             25,000
                                             ____________      ____________

TOTAL ASSETS                                  $   25,085         $   25,072
                                             ============      ============


LIABILITIES AND STOCKHOLDERS' EQUITY


CURRENT LIABILITIES

   Accounts payable                           $    6,053         $   23,605
   Advances from shareholder                      23,700                -
                                             ____________      ____________

         Total current liabilities                29,753             23,605
                                             ____________      ____________
STOCKHOLDERS' EQUITY

   Preferred stock; $0.10 par value;
    1,000,000 shares authorized; no shares
    outstanding                                      -                  -

   Common stock; $.10 par value;
     29,000,000 shares authorized;
     9,563,340 shares issued and
     outstanding                                 956,334            956,334
   Discount on common stock                     (280,101)          (280,101)
   Accumulated deficit                          (680,901)          (674,766)

                                             ____________      ____________

         Total stockholders' equity               (4,668)             1,467
                                             ____________      ____________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY    $   25,085        $    25,072
                                             ============      ============

</TABLE>

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

<PAGE>

PRINCETON MINING COMPANY
Statement of Operations for the Three and Nine
Month Periods Ended September 30, 1999 and 1998
(UNAUDITED)

<TABLE>
                                       September 30, 1999         September 30, 1998
                                    __________________________  ________________________
                                       Three         Nine          Three        Nine
                                       Months        Months        Months       Months
                                    ____________  ____________  ___________  ___________
<C>                                 <S>           <S>           <S>          <S>

REVENUES                            $      -      $      -      $      -     $      -
                                    ____________  ____________  ___________  ___________

OPERATING EXPENSES
  Interest                                 533         1,452           281          659
  Office                                 1,024         4,559         1,333        5,325
  Professional fees                        114           114           -            600
  Taxes and licenses                       -              10           -            310
                                    _____________  ____________  ___________  ___________

     Total Operating Expenses            1,671         6,135         1,614        6,894
                                    _____________  ____________  ___________  ___________


NET (LOSS)                          $   (1,671)    $  (6,135)    $  (1,614)   $  (6,894)
                                    =============  ============  ===========  ===========

NET (LOSS) PER SHARE                $     (NIL)    $    (NIL)    $   (NIL)    $    (NIL)
                                    =============  ============  ===========  ===========






</TABLE>





















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

<PAGE>
PRINCETON MINING COMPANY
Statement of Changes in Stockholders' Equity for
the Nine Month Periods Ended September 30, 1999 and 1998
(UNAUDITED)

<TABLE>


                         Common Stock      Discount
                     ____________________  On Common    Accumulated
                       Shares     Amount   Stock        Deficit          Total
                     _________  _________  ___________  ____________  ___________
<C>                  <S>        <S>        <S>          <S>           <S>
Balances as
of June 30, 1998     9,563,340  $ 956,334  $ (280,101)  $  (666,775)  $    9,458

Net (Loss)                 -          -           -          (1,614)      (1,614)
                     _________  _________  ___________  ____________  ___________

Balances as of
Sept. 30, 1998       9,563,340  $ 956,334  $ (280,101)  $  (668,389)  $    7,844
                     =========  =========  ===========  ============  ===========

Balances as
of June 30, 1999     9,563,340  $ 956,334  $ (280,101)  $  (679,230)  $   (2,997)

Net (Loss)                 -          -           -          (1,671)      (1,671)
                     _________  _________  ___________  ____________  ___________

Balances as
of Sept. 30, 1999    9,563,340  $ 956,334  $ (280,101)  $  (680,901)  $   (4,668)
                     =========  =========  ===========  ============  ===========


</TABLE>

























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

<PAGE>
PRINCETON MINING COMPANY
Statement of Cash Flows for the Three and Nine Month
Periods Ended September 30, 1999 and 1998
(UNAUDITED)

<TABLE>
                               September 30, 1999              September 30, 1998
                             __________________________  _________________________
                                 Three         Nine        Three         Nine
                                 Months        Months      Months        Months
                             ____________   ___________  ___________   ___________
<C>                          <S>            <S>          <S>           <S>

CASH FLOWS FROM
OPERATING ACTIVITIES
Net (Loss)                   $    (1,671)   $   (6,135)  $   (1,614)   $   (6,894)
Increase (decrease) in
    accounts payable             (16,167)      (17,552)       1,582         2,788
  Increase (decrease) in
    advances from
    shareholders                  17,800        23,700           79         4,100
                             _____________   ___________  ___________   ___________

    Net cash flows provided
      (used)from operating
      activities                     (38)           13           47            (6)
                             _____________  ____________  ___________   ___________

NET INCREASE (DECREASE)
 IN CASH                             (38)           13           47            (6)

CASH AT BEGINNING OF PERIOD          123            72           57            110

                             _____________  ____________  ___________   ___________

CASH AT END OF PERIOD        $        85    $       85    $     104     $      104
                             =============  ============  ===========   ===========























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

<PAGE>
PRINCETON  MINING  COMPANY                         Notes to Financial Statements
(UNAUDITED)                                        as  of September 30,  1999
--------------------------------------------------------------------------------


The  financial statements of Princeton Mining Company included herein, have been
prepared  without audit, pursuant to the rules and regulations of the Securities
and  Exchange  Commission.  Although  certain  information  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles has been condensed or omitted, Princeton Mining Company believes that
the  disclosures  are adequate to make the information presented not misleading.
These  financial  statements  should  be  read in conjunction with the financial
statements  and  notes  thereto  included  in  Princeton Mining Company's annual
report  on  Form  10-K  for  the  fiscal  year  ended  December  31,  1998.

The  financial  statements  included   herein  reflect   all  normal   recurring
adjustments  that,  in  the  opinion  of  management,  are  necessary for a fair
presentation.  The results for interim periods are not necessarily indicative of
trends  or  of  results  to  be  expected  for  a  full  year.











































<PAGE>

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


The  Company maintains unpatented mining property  east of Mullan, Idaho, in the
Coeur  d'Alene  Mining  District,  Shoshone  County, Idaho.  As of September 30,
1999, current  liabilities  exceeded  current  assets  by  $29,668.

During  the quarter ended  September 30, 1999, the  Company had a net  operating
loss of $1,671.


                                     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:   October 20, 1999
____________________________________            __________________________
H. James Magnuson
President and Director

/s/     Dennis O'Brien                          Date:   October 19, 1999
____________________________________            __________________________
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: October 20, 1999
____________________________________            __________________________
H. James Magnuson
President and Director

/s/     Dennis O'Brien                          Date: October 19, 1999
____________________________________            __________________________
Dennis O'Brien
Secretary-Treasurer and Director














</TABLE>