30

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

(x)     ANNUAL  REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF
        1934  (FEE  REQUIRED)
     For  the  fiscal  year  ended          April  30,  2002
                                            ----------------

(  )     TRANSACTION  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE  ACT  OF  1934  (NO  FEE  REQUIRED)
         For  the  transaction  period  from               to

     Commission  File  number               0-26709
                                            -------

               QUINCY  RESOURCES  INC.
               -----------------------
     (Exact  name  of  Company  as  specified  in  charter)

          Nevada                                         98-0218264
          ------                                         ----------
State or other jurisdiction of incorporation   (I.R.S. Employee I.D. No.)
or  organization

1327  Laburnum  Street
Vancouver,  British  Columbia,  Canada                         V6J  2W4
--------------------------------------                         --------
(Address  of  principal  executive offices)                   (Zip Code)

Issuer's  telephone  number,  including  area  code
1-604-736-7481
            --

Securities  registered  pursuant  to  section  12  (b)  of  the  Act:

Title of each share                    Name of each exchange on which registered
       None                                              None
----------------                              --------------------

Securities  registered  pursuant  to  Section  12  (g)  of  the  Act:

     None
     ----
(Title  of  Class)

Check  whether  the Issuer (1) filed all reports required to be filed by section
13  or  15  (d)  of the Exchange Act during the past 12 months (or for a shorter
period  that  the  Company  was required to file such reports), and (2) has been
subject  to  such  filing  requirements  for  the  past  90  days.

          (1)   Yes  [X]     No  [  ]               (2)     Yes  [X]    No [   ]

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  is  not  contained  in  this  form,  and  no disclosure will be
contained,  to  the  best  of  the  Company's  knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or  any  amendment  to  this  Form  10-KSB.  [    ]

State  issuer's  revenues  for  its most recent fiscal year:     $           -0-
                                                                    ------------

State  the  aggregate  market value of the voting stock held by nonaffiliates of
the  Company.  The  aggregate market value shall be computed by reference to the
price  at  which the stock was sold, or the average bid and asked prices of such
stock,  as  of  a  specific  date  within  the  past  60  days.



                                      -1-
<PAGE>


As  at  April  30,  2002, the aggregate market value of the voting stock held by
non-affiliates  is  undeterminable  and  is  considered  to  be  0.


   (THE COMPANY INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE LAST FIVE YEARS)

                                 Not applicable

                     (APPLICABLE ONLY TO CORPORATE COMPANYS)

As  of  April 30, 2002, the Company has 10,026,500 shares of common stock issued
and  outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

List hereunder the following documents if incorporated by reference and the part
of  this  Form  10-KSB  (eg., Part I, Part II, etc.) into which the documents is
incorporated:

     (1)  Any  annual  report  to  security  holders;

     (2)  Any  proxy  or  other  information  statement;

     (3)  Any  prospectus  filed  pursuant  to  Rule  424  (b)  or (c) under the
          Securities  act  of  1933.

NONE



















                                      -2-
<PAGE>





                                TABLE OF CONTENTS





<TABLE>
<CAPTION>




<S>       <C>                                                                                                                <C>

PART 1 .                                                                                                                  Page
--------                                                                                                               --------

ITEM 1..  DESCRIPTION OF BUSINESS                                                                                             4

ITEM 2..  DESCRIPTION OF PROPERTY                                                                                             4

ITEM 3..  LEGAL PROCEEDINGS                                                                                                  12

ITEM 4..  SUBMISSION OF MATTERS TO VOTE OF SECURITIES HOLDERS                                                                12

PART II
--------


ITEM 5..  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS                                                           12


ITEM 6..  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION                                                          13

ITEM 7..  FINANCIAL STATEMENTS                                                                                               13


ITEM 8..  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE                               14

PART III
--------



ITEM 9..  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS, COMPLIANCE WITH SECTION 16 (a) OF THE EXCHANGE ACT  14

ITEM 10.  EXECUTIVE COMPENSATION                                                                                             16

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICAL OWNERS AND MANAGEMENT                                                      17

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                                                                     18

PART IV
--------

ITEM 13.  EXHIBITS                                                                                                           19


</TABLE>



                                      -3-
<PAGE>



                                     PART 1
                                     ------


                        ITEM 1.  DESCRIPTION OF BUSINESS


HISTORY  AND  ORGANIZATION

     The  Company  was  incorporated in the State of Nevada on May 5, 1999.  The
Company has no subsidiaries and no affiliated companies.   The executive offices
of the Company are located at 1327 Laburnum Street, Vancouver, British Columbia,
Canada,  V6J  2W4  (Telephone:  604-736-7481).

     The  Company  is  engaged  in the exploration of mineral properties.    The
Company  is  referred  to  as  being in the "development" stage by its auditors.
This  term  is  generally  used  in Financial Accounting Standards to describe a
company  seeking  to develop its ideas and products.   The Company is not in the
development  stage  with  regards  to  any mineral claim.   No ore body has been
discovered  and  no  substantial exploration has been done on its mineral claim.
The  Company  is  purely an exploration company.  There is no assurance that any
ore  body  will ever be found nor that the Company will have sufficient funds to
undertake  the  exploration  work  required  to  identify  an  ore  body.

     The  Company's  shares  have  been  given  a quotation on the system of the
National  Association  of  Securities  Dealers,  Inc.  ("NASD") known as the OTC
Bulletin  Board.

     As  at  April  30, 2002, the company had no revenue from the exploration of
its  mineral  claim.  The Company has, at the date of this Form 10KSB, no assets
and  no  funds  to  acquire  any  assets


                         ITEM 2. DESCRIPTION OF PROPERTY



EXPLORATION  AND  DEVELOPMENT  OF  THE  QUINCY  MINERAL  PROPERTY

     The  Company  retained  William  Waychison,  P. Geo. of Timmins Ontario, to
summarize  the  geology  and  mineral  potential  on its mineral claim near East
Township,  Ontario.  His  report  was dated October 28, 1999.  The mineral claim
was  staked  May  31, 1999, by Frank Renaudat on behalf of the Company and named
the  "Quincy."

     The  claim  covers  16  metric units (986 acres) located within the English
Township,  Porcupine  Mining Division, Ontario near the town of Timmins Ontario.

     The  present  report  summarizes  geology and mineralization in the English
Township  area  and  potential for discoveries on the Quincy claim.  Waychison's
report is summarized below.  All of the material presented in his report is from
a literature search of Ontario Ministry of Northern Development and Mines annual
reports  and  papers,  Geological  Survey  of Canada Open File maps, memoirs and
papers,  and  Assessment  Report  filings  with  the  B.C.  Department of Mines.

LOCATION  &  ACCESS

     The  property  lies approximately 28 miles due south of Timmins, Ontario in
NTS  quadrant  42A/3  and  has as its center the approximate UTM co-ordinates of
480350m  E  and  5323500m  N  (or  geographical co-ordinates of 48 04' 47" north
latitude  and  81  15'  53"  west  longitude).

                                      -4-
<PAGE>

     An  all  weather,  two lane gravel road, which is the southern extension of
Pine  Street  South,  accesses the property and traverses the western four claim
units  in  a  north  south  fashion.  Road  distance  along  this  road from the
intersection  of Highway 101 and Pine Street in downtown Timmins, to a point 775
feet  east  of  claim  post 4 along the northern boundary of the property, is 32
miles.  This  road  is  generally  plowed during the winter to the Saw Mill Cafe
situated  approximately  3.1  miles  south  of  the  property  near the southern
boundary  of  English  Township.  A  secondary, single lane gravel road provides
drivable  access  to  the  southern  and  southeastern  portion of the property.

     An  older  winter  road  trending  north  to  northeast through the central
portion  of  the  property  is  heavily  overgrown (along with shorter old drill
roads)  and  difficult  to  impossible  to  follow  on  the  ground.

CLIMATE,  LOCAL  RESOURCES  AND  PHYSIOGRAPHY

     The climate of the region is similar to that for the nearby City of Timmins
and  can  be  characterized  by long cold winters and short warm to hot summers.
Five  months  of the year have an average daily temperature below 32 F while for
two  months  the  average  daily  mean  temperatures  are  above  59F.  Climatic
statistics  recorded  between  1955 and 1990 for the Timmins Region indicate the
maximum  and minimum daily temperatures for the coldest month and warmest months
are  as  indicated  in  the  following table. (source:  City of Timmins, Timmins
Economic  Development Corporation web site.  Original data was done in Celcius.)


<TABLE>
<CAPTION>




<S>                     <C>                        <C>

COLDEST/WARMEST MONTH.  AVERAGE DAILY MAXIMUM (F)  AVERAGE DAILY MINIMUM (F)
----------------------  -------------------------  -------------------------
Coldest Month: January                       12.4                      -10.6
----------------------  -------------------------  -------------------------
Warmest Month: July. .                       75.7                       50.5
----------------------  -------------------------  -------------------------
</TABLE>




     The  total  annual  precipitation for the region is 3.5 inches of which the
average  rainfall  is  2.3  inches  with  the  balance accounted for as snowfall
precipitation  that  averages  1.4  inches.

     The  property is generally flat with a local topographic relief of 15 to 30
feet.  An  esker  occurs north of the Ferrier Creek Property and trends NE-SW as
it  crosses  the  NW  corner  of  the  property.  West of the Property the esker
changes  to more a N-S direction.  The gravel road accessing the Quincy property
approximates  the  esker  to  a  point  about 660 feet north of the property.  A
secondary  old lumber road approximates this point and can be seen to follow the
esker  and  cross the northwest corner of the property near claim post 4.  Sandy
glaciofluvial/glaciolacustrine  deposits occupy the area to the southeast of the
esker  and  underlie  all  the  property.

     Bedrock exposure is generally poor other than a few small exposures located
east  of the main gravel road and south and southeast of the largest kettle lake
situated  in  the center of the property.  Water is readily available and occurs
as  small  clay-lined, kettle lakes and pot-hole depressions that generally feed
Ferrier Creek.  The latter drains the area in an eastward direction and eventual
flows  north  as  part  of  the  Hudson  Bay  watershed.

     The  forest  cover  is  typical  of a boreal area underlain by either sandy
rises  or  flat  wet  terrain  and  includes  areas  of both jackpine with minor
quantities of spruce, balsam, birch and poplar as well as areas of black spruce,
cedar  and  tamarack  swamp.  Most  of  the three to four claim units within the
southeast  portion  of  the  property  have  been  logged  and  scarified.

     Other  than  the  existing  roads  that  have  been noted there is no other
infrastructure  on  the  property.  The  nearest  source  of  electricity is the
Ontario  Hydro  transmission  line  linking  Timmins  and  Sudbury, which trends
azimuth  165  and  occurs  1.6  miles  east  of  the  property.

                                      -5-
<PAGE>

     There  are  no  known  impediments  to mineral exploration or exploitation.

HISTORY
-------

GENERAL

     English  Township and area have been prospected for gold and iron since the
1920's with the first discovery of gold made during the 1930's by a J.C. Nelson.
During  the  late  1940's  and  1950's,  with the advent of airborne geophysical
techniques  and  increased  use  of  ground  geophysics, the search emphasis was
redirected towards asbestos deposits and nickel sulfide deposits associated with
ultramafic  bodies.  With  the  discovery  of  the  Kidd  Creek  copper-zinc
volcanogenic  massive  sulfide  ("VMS")  deposit  in  1964,  mineral exploration
efforts  were  redirected  for  base  metal  VMS deposits associated with felsic
volcanic  rocks  within  the  township.

PAST  EXPLORATION

     Summaries for work conducted on properties now overlain in whole or in part
by  the  Ferrier  Creek  Property  are  mentioned  as  follows.  The  airborne
electromagnetic  ("AEM") compilation includes both an Input Mark VI Survey flown
for  Granges  Exploration  Canada Inc. and a Geotem Survey flown for the Ontario
Geological  Survey.

     1949-1953:  Dominion  Gulf  Company ("DGC") DGC flew an aeromagnetic survey
          over the region. Results are not reported although it is referenced in
          follow-up  groundwork  conducted  on claims DGC subsequently staked in
          Semple  Township  in  the  south.

     1962-1963:  Hollinger  Consolidated Gold Mines Ltd. ("Hollinger") Hollinger
          staked  a  block  of  8  claims  in  central  English  Township  that
          approximates  the north-south central portion of Quincy's 16 unit (986
          acres)  property.  A  detailed  ground  magnetic  survey  employing an
          Alkania  Gfz torsion wire magnetometer and a dip angle electromagnetic
          ("EM")  survey  were  conducted  over  13 miles of grid. Readings were
          obtained at 100-foot intervals along east-west lines having a 200 foot
          separation.

     The  magnetic  results  indicated  a  strong  magnetic  high  to  define  a
          complexly  folded  area  having  a  southeast  trending  axis to occur
          between  two small lakes within the central part of the current Quincy
          property. Multiple short or single point EM anomalies approximate this
          magnetic  high and indicate that the survey was done at an acute angle
          to  the  anomalies.  A second area of anomalous EM values occur within
          the  southern  portion  of  the current Quincy claim, at approximately
          300-450  feet  southwest  of  a  small pond at the junction of a creek
          feeding  Ferrier Creek. As with the above described anomalous EM area,
          this  smaller  area  also  flanks  an  area  of  magnetic high values.

     During  1962  Hollinger  drilled  6 short Holes (of an average length of 65
feet)  for  a total length of 391 feet.  Other than Hole #E4 that was dyked out,
all the holes reported encountering green altered lava.  Narrow streaks, patches
or  minor  disseminated  pyrite  was  noted in Holes #E1, #E2 and #E5.  Hole #E1
reported  streaks  and  splashes  of  pyrite with a little chalcopyrite from the
bedrock  interface  at 2.9 feet to the 15 feet core length ("c.l.") as well as a
11  inch  section  of  heavy  pyrite  at  c.1  of  18.9  feet.

     During  1963  Hollinger  drilled  an additional hole, #E3-2A, having a core
length  of  474  feet.  The hole appears to have been collared just south of the
Ferrier  Creek  Property  and  would  lie east of the AEM anomalies subsequently
detected  by  others.  Given  the  high  magnetic response of the iron formation
("IF")  in this area the absolute position of the Hollinger grid and Hole #E3-2A

                                      -6-
<PAGE>

may  not  be  as  indicated.  The  Hole is reported to have encountered rhyolite
between  core length of 298 to 369 and again between 462 feet and the end of the
Hole  at  474  feet.  The  latter intercept reported the fragments becoming more
sericitic  and  lighter  in  color  towards  the  end of the Hole.  The positive
indication  of  alternation  was  not  pursued.

     1972-1974: Dowa Mining Co. Ltd. ("Dowa") In 1972, Dowa staked their English
          3-3  Property,  which  comprises  9 claims and covers the core area of
          Hollinger's  former  property.  Following  a  program  of prospecting,
          geological  mapping and minor dynamite trenching (Armand Aube, Timmins
          prospector,  pers. Comm. July 1999), Dowa completed one AQ-sized drill
          hole  during  1972  for  a  core length of 499 feet. No records of the
          field  work  are  filed  for  assessment  purposes.

     Dowa reports Hole No. 1 encountered dominantly rhyolite tuff and fragments.
Two  andesite  units are reported between core lengths of 125.6 - 162.4 feet and
174.8  -  206.2 feet.  An analysis of a 3.8 feet section of andesite (at c.1. of
136.4  feet)  containing  quartz  veining  with minor galena, pyrite and a honey
colored  mineral  thought  to  be sphalerite returned 22.61% Iron.  Although not
indicated by Dowa, given what others have reported in this area, Dowa's andesite
is  very  likely  magnetite-bearing Iron Formation.  The Dowa sample in question
also  revealed  0.25%  Copper, nil Zinc, and 8.5% Sulphur.  Only two other short
samples  are reported to have been analyzed for a total core length of 5.6 feet.
This is despite that an unsampled 5.9 feet section of magnetite-poor rhyolite at
a core length of 383.6 feet is reported to contain 10 to 49% sulfides consisting
of  mostly  pyrite  with  minor  chalcopyrite  and  pyrrhotite.

     In  1974,  Dowa reports drilling Hole No 2 for a core length of 374.2 feet.
A  different  person was responsible for logging this hole.  Diabase is reported
to  occur near surface either side of an oxide IF (23.3-82.8 feet) containing up
to  20% pyrrhotite.  The remainder of the hole is reported to be felsic tuff and
fragmentals  with  a second IF and associated andesite tuff between core lengths
233.7-266.6 feet.  Only two assays from the first IF are reported for this hole.
The  results  indicated  0.036%  Copper  over  8.49  feet.

1973-1976:  Granges  Exploration  A.B.  ("Granges")
     In  1973,  Granges contracted Questor Surveys Limited to conduct a combined
airborne  magnetic  and  electromagnetic  (Input  Mk  VI)  survey  employing  a
fixed-wing aircraft.  Terrain clearance of the plane was approximately 400 feet.
The  survey  was  completed  over all or parts of 13 townships including English
Township.  The  flight lines were oriented both N-S and E-W and had a separation
of  approximately1/8  mile  and  a  mean  AEM  sensor  altitude  of  150  feet.

     Several  moderately  strong  Input  AEM anomalies with magnetic correlation
were  detected  within  and  near  the  Quincy  property.

     Granges staked six single unit claims to cover an isolated cluster of Input
anomalies  centered  465  feet  north  of the Quincy property.  This claim block
extended  south  to  include  the  northern  part  of  the  present  claim.

     Granges  also staked a block of 28 single unit claims commencing within the
southern  480  feet  of  Quincy's present property and continuing in a southwest

                                      -7-
<PAGE>

direction for approximately 6.83 miles.  This claim block covers two clusters of
Input  anomalies.  The  northern cluster of Input anomalies commences within the
southern  465  feet  of the present Quincy property and continues in a southwest
direction  for  an additional 1400 feet. The second cluster of SW trending Input
anomalies commences approximately 0.9 miles SW of the present southern boundary.

1995:     Essex  Minerals  Company  ("Essex")
     Following  the  unexpected  expiry  of certain of Granges claims, W.G. Wahl
Limited  ("Wahl")  restaked  49  claims  within four townships including that of
English  Township.  Wahl  reported the claims covered areas of favorable geology
over which anomalous Input anomalies had been identified by Granges.  The claims
were  subsequently  optioned  to  Essex.  On behalf of Essex, Wahl established a
grid  and conducted geological and geophysical surveys over 4 units.  The latter
approximated  the  northern part of the former Granges holdings and was situated
north  of  the  current  Quincy  property  in  central  English  Township.

     W.G.  Wahl,  P.Eng.  reported  that "at 444Hz the conductivity thickness is
about  30mhos  and  the  conductor is at an indicated depth of 200 feet.  At the
frequency of 1777Hz the conductor shows no out-of-phase response and as a result
the  conductivity  width  could not be determined.  This configuration indicates
that  the  causative  body  is an excellent conductor."  Magnetic survey results
indicated  a  positive  correlation  and  an  indicated  depth of 70 feet.  Wahl
attributed  the  variance  in  estimates  to  "a  possible 'blind' conductor not
exposed  at  the  bedrock  surface  or some current gathering which disturbs the
depth  estimates."  The conductor was attributed to graphite and/or sulfides and
recommended  for  drilling.  There is no record of the hole having been drilled.



1989-1990:     BHP-Utah  Mines  Ltd.  ("BHP")
`     During  1989-1990  BHP  conducted  a  geological  mapping  and prospecting
program  over  their 16 single claim unit property.  The BHP property covered an
area  that  approximates  the Quincy property.  No map or report of this work is
recorded  in  the  assessment files other than a portion of their geological map
that  is  used  as  a  drill  hole  location  plan.

     During  1990  BHP  completed  one  drill hole (FC-1-90) for a length of 405
feet.  The  hole  intersected  felsic  tuff  and  lapilli tuff with a cherty and
magnetite  IF  between core lengths 70.1 feet and 179 feet.  The IF is described
as locally highly brecciated with angular chert fragments up to 1.2 inches.  One
such angular fragment at 145 feet is reported to display spinifex textures.  The
reported  sulfides  within the IF include up to 5% pyrrhotite as rounded blebs (
0.6  inches),  bands, grains and wisps and fine euhedral disseminated pyrite, at
times  rimming  cherty  fragments.  The  hole also encountered a peridotite with
chill  margins  (at  239 feet-290 feet) and a terminated in diabase dyke (at 390
feet  to  end  of  hole  at  425  feet).

GEOLOGY
-------

REGIONAL  GEOLOGY
-----------------

     English  Township  and  surrounding area lie in the west-central portion of
the  Abitibi  Subprovince of the Superior Province.  The abitibi Subprovince, is
an  Archean  assemblage  of  dominantly  volcanic rock with lessor sediments and
intrusions that extends in a NE direction for in excess of 500 miles from the SE
shore  of  Lake  Superior to beyond the mining community of Chibougamau, Quebec.

                                      -8-
<PAGE>


     Two  cycles  of volcanism have been defined within the west-central portion
of  the  Abitibi.  In  general terms, each cycle has a lower ultramafic volcanic
unit, an overlying mafic unit, and an upper unit intermediate to felsic volcanic
rocks.  Iron formation is extensively associated with the intermediate to felsic
metavolcanics  unit  occupying  the  upper  unit of the lower cycle.  It is this
intermediate to felsic unit that occupies all of the Ferrier Creek Property.  On
a  regional  scale  the  upper portion of the lower cycle  has also been locally
correlated  with  the Porcupine Group Sediments while the top of the upper cycle
has  been locally correlated with the Timiskaming Group of sediments and alkalic
volcanism.

     Pyke  (1978)  notes  that pretectonic gabbroic and minor related ultramafic
intrusions  are  largely  confined  to the lower volcanic cycle.  Minor epizonal
felsic  intrusions  occur  throughout the area and are reported to be a probable
subvolcanic derivation.  Diabase dykes are numerous, generally trend northwardly
in  several  set  orientations,  and  are  early  to  late  Precambrian  Age.

     All  rocks  within  English  Township  and  environs  have  been regionally
deformed and generally exhibit greenschist metmorphism.  Recent studies indicate
that  the  area  experienced  five  major  deformations.

LOCAL  GEOGRAPHY
----------------

     West  of English Township, the Kenogamissi Batholith is associated with the
D3  deformation  in  the  region.  In  English  Township,  the  D3  deformation
translates into a well-developed foliation and alignment of lithologies near the
batholith  in  a  general  northwardly  direction  parallel  to  its  contact.

     Recent  efforts  to  correlate stratigraphy within Ontario have labeled the
N-trending  upper  portion  of  the lower volcanic cycle which underlies most of
English  Township  (and  all  of  the Ferrier Creek Property) to be the Bartlett
assemblage.  This  assemblage  consists  of  intermediate to felsic metavolcanic
rock dominated by felsic fragmentals and characterized by the presence of cherty
oxide-  and  lesser  sulfide-facies  iron  formation.

In  a  report  dated  in  1984,  E.Bright  indicated  the  following:

"A  lower  unit of interbedded oxide-and sulfide-facies iron formation occurs in
the  central  part  of  the  sequence,  and an upper unit of predominantly oxide
facies  iron  formation  lies  near  the top of the sequence (near its contact.)
Individual  iron  formation units range in thickness from several centimetres to
60m,  but  most  are  less  then  9mThe  lower oxide-and sulfide iron formation
outcrops  sporadically  in  north-central,  central (Ferrier Creek Property) and
southeastern  English  TownshipSulfide-facies  iron  formation  consists  of
disseminated  grains  and  stringers  of  pyrrhotite and pyrite in thinly bedded
chert,  in massive to thinly bedded felsic tuff, and in the matrix and fragments
of  associated  units  of  chert-breccia  and  felsic  breccia."

     The  Bartlett  assemblage has been correlated with the Eldorado assemblage,
which  crops  out  around  the Shaw Dome centered in Shaw Township to the north.
Both  assemblages  contain  a significant component of iron formation and felsic
fragmental  rock, but differs in that ultramafic flows are apparently lacking in
the  Bartlett  assemblage.  This may not be universally true if the observations
made by BHP-Utah Mines in their drill hole FC-1-90 are correct.  The latter hole
was  drilled  on  the Ferrier Creek Property and described a fragment displaying
spinifex  textures  (at  a  core  length  of  156 feet) within a brecciated iron
formation  (86.4-179  feet).  Furthermore,  the  hold  encountered  a peridotite
intrusion  between  237-291  feet  only  feet to the east of the iron formation.
These  points  take  an added significance given that the Eldorado assemblage is
also  host  to at least five komatite-associated, nickel-copper sulfide deposits

                                      -9-
<PAGE>

and  several  showings along the southern side of the Shaw Dome.  In all but one
of  these  Nickel  occurences  the  mineralization  is spatially associated with
spinifex  textures  which  reflect  an  extrusive origin, and suggest the nickel
sulfide  mineralization is of a magmatic-volcanogenic-exhalative type of origin.

MINERALIZATION
--------------

     E.  Bright  notes  that  the  first  notable  mineral  discovery within the
immediate  region  was  made  during  the  1930s by J.C. Nelson who discovered a
gold-bearing quartz stinger zone on his claims in west central English Township.
This  occurrence  is  known  as  the  Boychuk-West  Muskasenda  Group.

     Since  Nelson's  discovery,  several  additional  gold  showings  have been
located  in  English  Township,  however,  the  bulk of the exploration has been
directed  at base-metal exploration.  Although no economic mineral deposits have
been  outlined  to  date in English Township, the Texmont Ni-discovery in Geikie
Township  to the north and the Southman Nickel-discovery in Southman Township to
the  south  have  encouraged the search for base-metal mineralization in English
Township.

SAMPLING  AND  ANALYSIS
-----------------------

     A  short  traverse was conducted during the property visit of July 17, 1999
to  an  area  approximate  4/10  mile east of the gravel road near the center of
claim  1212816.  This  area  contains  several  small  shallow  rock  exposures.
Location  control  was provided by both pace and compass traversing and use of a
Garmin  GPS unit.  Two outcrops of cherty banded (oxide) iron formation (samples
5970  & 5971) were located, prospected and grab samples were collected from each
location.  Locally  the  iron formation displays drag folding as shown at sample
location 5970 below.  This confirms the iron formation is folded as indicated by
the  AEM  anomalies  for  this  area.  Both  observed outcrops of iron formation
displayed a NE-SW strike and dips of approximately -55 degrees north.  Malachite
stains  and  trace  chalcopyrite  were  also  discovered  at  both  locations.

     In  addition,  the  gravel  access  road  and  a minor gravel road near the
southern  claim  boundary  were  prospected and grab samples collected from rock
exposures.  A  small  flat,  sterile outcrop of medium-grained gabbro containing
1-2% disseminated magnetite (sample 5972) was located along the east-side of the
main  gravel  road.  An  oxidized  rubble-outcrop of mafic volcanic rock (sample
5973) was located along the N-side of the gravel road situated near the southern
boundary  of  the  property.  At  this  location, a thin quarz-feldspar porphyry
intrusion  trends  azimuth  095.  The  porphyry  contains  1-2mm euhedral quartz
(after  tridymite)  and  feldspar  phenocrysts  and displays sericite alteration
developed  along  the  foliation  planes.  Approximate  sample  locations  and
descriptions  are  summarized  in  below.











                                      -10-
<PAGE>



Samples  collected  on  July  17,  1999  on  Ferrier  Creek  Property:

<TABLE>
<CAPTION>




<S>        <C>                                     <C>            <C>        <C>


SAMPLE NO  UTM EASTING         UNIT NORTHING  UNIT NAME  COMMENTS
---------  ---------------------------------------------------------------------------
           5970     480 140E     5323 522N     Oxide cherty banded iron formation (IF)     S-folded an N-dipping IF.  Dominantly

           5971     480 160E     5323 560N     Oxide cherty banded iron formation (IF)     Oxide (Mt) cherty IF with 2-3% Py and

           5972.    479 800E      5323 300N  Gabbro     Small flat outcrop along east side of gravel access road.  1-2% Mt

           5973     480 150E     5322 700N     Mafic volcanic flow     North Side of access road; magnetic mafic flow with quartz-

           5974     480 150E     5322 700N     Quartz-feldspar porphyry     North side access road; thin, grey, quartz-feldspar
</TABLE>






ANALYSIS
--------

     Four  of  the  five  grab  samples collected during the property visit were
submitted for analyses for 24 elements including Copper, Zinc and Nickel.  These
included  sample  numbers  5970,  5971,  5973  and  5974.  A  sterile  sample of
medium-grained  gabbro  that was collected as grab sample 5972, was not included
for  analysis.

     All  samples  were  analyzed by XRAL Laboratories, a Division of SGS Canada
Inc.,  1885  Leslie Street, Don Mills, Ontario M3B 3J4.  Each sample underwent a
sample  preparation consisting of drying and crushing to a -2mm (-10 mesh) size.
The  samples  were subsequently riffled and split to produce a 250gm sub-sample,
which  was pulverized to a -200 mesh pulp employing a chrome steel puck and ring
mill.

     All  samples were analyzed for 24 elements employing an Inductively Coupled
Plasma  (ICP-90)  technique  after  a  Sodium  Peroxide  Fusion  digestion.

     Samples  5970  and 5971 returned geochemically anomalous copper (Cu) values
of  437 and 976 ppm Cu and high iron (Fe) values of 14.6 and 9.34% respectively.
A  check  of sample 5970 returned 501 ppm Cu and 16.4% Fe.  Both samples (5970 &
5971)  were  oxide-facies, cherty banded iron formation.  The absolute Fe values
are  considered  normal  but  low  for  an iron formation and reflect the cherty
nature.  Sample  5970  contained  1-3%  pyrite  along  fractures  with  trace
chalcopyrite  and visible malachite with sample 5971 contained 2-3% pyrite along
the  foliation/bedding  plane  and  also  contained  malachite  stains and trace
chalcopyrite.  The  anomalous  Cu  results of both samples are attributed to the
visible  Cu mineralization noted in the samples.  No other significant anomalous
values  were  identified.

     All  samples  were personally collected by the William Waychison and stored
in  new  5  mil  thick polyethylene bags.  Samples remained in the possession of
Waychison  and  were  personally  delivered  to  XRAL Laboratories in Don Mills,

                                      -11-
<PAGE>

Ontario  on  July  21, 1999.  A representative piece of each of the four samples
submitted  for  analyses  was  retained  by  Waychison  for  future  reference.

     XRAL  Laboratories  is a member of the SGS Society Generale de Surveillance
Group,  the world's largest inspection and testing organization with head office
based  in  Geneva, Switzerland.  SGS operates in 140 countries with a network of
335  subsidiaries,  341  laboratories,  more  than 1,220 offices and over 36,000
employees.



                            ITEM 3. LEGAL PROCEEDINGS


     There  are no legal proceedings to which the Company is a party or to which
its  property  is  subject,  nor  to  the best of management's knowledge are any
material  legal  proceedings  contemplated.



          ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS


     No  matters  were submitted to a vote of shareholders of the Company during
the  fiscal  year  ended  April  30,  2002.






                                      PART II


        ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS


     During  the  past year there has been no established trading market for the
Company's  common  stock.  Since  its  inception,  the  Company has not paid any
dividends  on its common stock, and the Company does not anticipate that it will
pay  dividends  in the foreseeable future.  As at April 30, 2002 the Company had
38  shareholders;  three of these shareholders are officers and directors of the
Company.










                                      -12-
<PAGE>




       ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION


OVERVIEW

     The  Company was incorporated on May 5, 1999 under the laws of the State of
Nevada.  The  Company's  articles  of  incorporation  currently provide that the
Company  is  authorized  to  issue 200,000,000 shares of common stock, par value
$0.001  per  share.   As  at  April  30,  2002  there  were  10,026,500  shares
outstanding.  The  Company  was  engaged  in  the  exploration  stage.


Liquidity  and  Capital  Resources
----------------------------------

     As  at  April  30,  2002,  the  Company  had  $41 of assets, and $19,317 of
liabilities.   The liabilities of $19,317 include amounts of $13,301 accrued for
audit,  accounting and other accounts payable and $6,016 due to related parties.

     At  the  present  time the Company does not have sufficient funds to reduce
its  accounts  payables.  Unless  funds  are  injected into the Company it might
cease to be a going concern.   The Company might be able to raise funds from its
director  and/or officers, obtain bank financing or issue as a private placement
some  of  its  common  stock.   No plans by management have been made to date to
address  the  future  funding  of  the  Company.

     The  Company  has  no  contractual  obligations  for either lease premises,
employment  agreements  or  work commitments on the Quincy claim and has made no
commitments  to  acquire  any  asset  of  any  nature.

Results  of  Operations
-----------------------

     Since  inception  the  Company has purchased the Quincy claim and performed
exploration  work  on  the  claim  as  more  fully  described  above.



                          ITEM 7.  FINANCIAL STATEMENTS


     The  financial  statements  of  the  Company  are  included  following  the
signature  page  to  this  Form  10-KSB.











                                      -13-
<PAGE>


      ITEM 8.  CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON ACCOUNTING AND
                              FINANCIAL DISCLOSURE


     From  inception  to  date,  the  Company's principal accountant is Andersen
Andersen  &  Strong,  L.C.  of Salt Lake City, Utah.   The firm's report for the
period  from  inception to April 30, 2002 did not contain any adverse opinion or
disclaimer,  nor  were  there  any  disagreements  between  management  and  the
Company's  accountants.

                                    PART 111


    ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS;
               COMPLIANCE WITH SECTION 16 (A) OF THE EXCHANGE ACT


     The  following  table  sets  forth as of April 30, 2002, the name, age, and
position  of  executive officers and the directors and the term of office of the
directors  of  the  Company.
<TABLE>
<CAPTION>




                                                               Term as
                                                               Director
Name                  Age              Position Held            Since
------------------  --------  --------------------------------  -----
<S>                 <C>       <C>                               <C>
 Adam Smith. . . .        41  President and Director             1999

 Gordon Krushinsky        36  Secretary Treasurer and Director   1999

 Raymond Miller.              Director                           1999
</TABLE>




     The  director  of  the  Company serves for a term of one year and until his
successor  is  elected  at  the  Company's  Annual  Shareholders' Meeting and is
qualified,  subject  to  removal  by  the Company's shareholders.   Each officer
serves,  at  the  pleasure of the Board of Directors, for a term of one year and
until  his  successor is elected at the meeting of the Board of Directors and is
qualified.

     Set  forth  below is certain biographical information regarding each of the
Company's  executive  officers  and  the  director.

     ADAM SMITH, 41, was educated at the University of British Columbia where he
obtained a Bachelor of Arts degree in Philosophy before undertaking the Canadian
Securities  Course.  Mr.  Smith  became employed with Georgia Pacific Securities
Ltd.,  a  local  firm  of  stockbrokers,  where  he  administered various retail
accounts.  He  left  the brokerage house and became an analyst for Groom Capital
Advisory  Inc.  until  1996 when he became a self employed financial consultant.
His  public company experience comprises of Palladium Resources Inc., an Alberta
Stock  Exchange  listed public company, where he was the president.  During this
same  period  of  time  he was a director of two Vancouver Stock Exchange public
companies;  Novadex  International  Inc.  and Pacific Falcon Resources Ltd.  His
experience  with  OTC  Bulletin Board companies comprised of being President and
Director  of  Goldking  Resources Inc.  He is no longer a director or officer of
Goldking  Resources  Inc.

     GORDON  KRUSHNISKY,  36, upon graduation from high school undertook various
courses  in  computer  system  technology  from  Vancouver Vocational Institute.

                                      -14-
<PAGE>

After  graduation  in  1984 he became partners with his brother in International
Laser  Games,  a  private  British  Columbia  incorporated  company.  His
responsibilities  included  equipment  upgrading  and  maintenance.  In  1997 he
became  a computer analyst for London Drug Stores Ltd. and now has been promoted
to  Assistant  Manager  -  Computer  Departments.

     RAYMOND  MILLER served in the R.C.N.V.R. Navy, afterwards in 1954 he worked
in  the  Hotel  Business in Whitehorse, Yukon until 1957.  He was the sole owner
and  operator  of  the  Capital  Hotel  Yukon Ltd from 1957 to 1980.  Mr. Miller
started  the  Arctic  Winter Games in 1970 where he was a Director and Chief fun
Raiser  and  organizer  of  the  games.  He started the Alaska R.C.M.P. Hand Gun
Competition  in  1970.  Mr.  Miller  was a director and part owner of White Pass
Hotels  Ltd.,  Edge  Water  and the Astor Hotel from 1975 to 1985.  From 1983 to
1990  he  was  President  and  Director  of  Cal  Miller  Holdings.

     To  the  knowledge of management, during the past five years, no present or
former  director,  executive officer or person nominated to become a director or
an  executive  officer  of  the  Company:

     (1)  filed  a  petition  under  the  federal  bankruptcy  laws or any state
          insolvency  law,  nor  had a receiver, fiscal agent or similar officer
          appointed by the court for the business or property of such person, or
          any  partnership  in  which  he was a general partner at or within two
          years  before  the  time  of  such  filings;

     (2)  was  convicted  in a criminal proceeding or named subject of a pending
          criminal  proceeding  (excluding  traffic  violations  and other minor
          offenses);

     (3)  was  the  subject  of  any order, judgment or decree, not subsequently
          reversed,  suspended  or  vacated,  of  any  court  of  competent
          jurisdiction,  permanently  or  temporarily  enjoining  him  from  or
          otherwise  limiting,  the  following  activities:

     (i)  acting as a futures commission merchant, introducing broker, commodity
          trading  advisor,  commodity  pool  operator,  floor  broker, leverage
          transaction merchant, associated person of any of the foregoing, or as
          an investment advisor, underwriter, broker or dealer in securities, or
          as  an  affiliate  person,  director  or  employee  of  any investment
          company,  or  engaging  in  or  continuing  any conduct or practice in
          connection  with  such  activity;

     (ii) engaging  in  any  type  of  business  practice;  or

     (iii) engaging in any activities in connection with the purchase or sale of
          any  security  or  commodity  or  in  connection with any violation of
          federal  or  state  securities  laws  or  federal  commodities  laws;

     (4)  was  the  subject  of any order, judgment, or decree, not subsequently
          reversed,  suspended,  or  vacated,  of any federal or state authority
          barring,  suspending  or  otherwise limiting for more than 60 days the
          right  of  such person to engage in any activity described above under
          this  Item,  or  to  be  associated  with  persons engaged in any such
          activities;

     (5)  was found by a court of competent jurisdiction in a civil action or by
          the Securities and Exchange Commission to have violated any federal or
          state securities law, and the judgment in such civil action or finding
          by  the  Securities  and Exchange Commission has not been subsequently
          reversed,  suspended,  or  vacated.

     (6)  was found by a court of competent jurisdiction in a civil action or by
          the  Commodity Futures Trading Commission to have violated any federal
          commodities  law,  and the judgment in such civil action or finding by
          the  Commodity  Futures  Trading  Commission has not been subsequently
          reversed,  suspended  or  vacated.

                                      -15-
<PAGE>

               COMPLIANCE WITH SECTION 16 (A) OF THE EXCHANGE ACT

     The  Company  knows  of no director, officer, beneficial owner of more than
ten percent of any class of equity securities of the Company registered pursuant
to  Section 12 ("Reporting  Person") that failed to file any reports required to
be  furnished  pursuant to Section 16(a).  Other than those disclosed below, the
Company  knows  of  no Reporting Person that failed to file the required reports
during  the  most  recent  fiscal  year.

     The  following table sets forth as at April 30, 2002, the name and position
of  each  Reporting  Person  that  failed  to file on a timely basis any reports
required  pursuant  to  Section  16  (a)  during  the  most  recent fiscal year.

Name                    Position                    Report  to  be  Filed
----                    --------                    ---------------------

Adam  Smith            President  and  Director             Form  3

Gordon  Krushnisky     Secretary  Treasurer and Director    Form 3

Raymond  Miller        Director                             Form  3



                        ITEM 10.  EXECUTIVE COMPENSATION


CASH  COMPENSATION

There  was no cash compensation paid to any director or executive officer of the
Company  during  the  fiscal  year  ended  April  30,  2002.

BONUSES  AND  DEFERRED  COMPENSATION

None

COMPENSATION  PURSUANT  TO  PLANS

None

PENSION  TABLE

None

OTHER  COMPENSATION

None

COMPENSATION  OF  DIRECTORS

None

TERMINATION  OF  EMPLOYMENT

                                      -16-
<PAGE>

     There  are  no compensatory plans or arrangements, including payments to be
received  from  the  Company,  with  respect  to  any  person  named  in  Cash
Consideration  set  out  above  which would in any way result in payments to any
such person because of his resignation, retirement, or other termination of such
person's  employment  with  the  Company  or  its subsidiaries, or any change in
control of the Company, or a change in the person's responsibilities following a
change  in  control  of  the  Company.


     ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT


     The  following  table sets forth as at April 30, 2002, the name and address
and  the  number  of  shares  of the Company's common stock, with a par value of
$0.001  per  share,  held  of  record or beneficially by each person who held of
record,  or  was  known  by the Company to own beneficially, more than 5% of the
issued  and  outstanding  shares of the Company's common stock, and the name and
shareholdings  of  each  director  and of all officers and directors as a group.

<TABLE>
<CAPTION>




Name and Address                                            Amount
of Beneficial                              Nature of    of Beneficial   Percent
Owner                                     Ownership(1)    Ownership    of Class
----------------------------------------  ------------  -------------  ---------
<S>                                       <C>           <C>            <C>
      ADAM SMITH
      1327 Laburnum Street
      Vancouver, B.C. Canada, V6J 2W4. .  Direct            1,000,000      9.97%

      GORDON KRUSHNISKY
      1088 Ferguson Road
      Delta, B.C., Canada, V4L 1X1 . . .  Direct            1,000,000      9.97%

      RAYMOND MILLER
      301-1323 Merklin Street
      White Rock, B.C., Canada, V6B 3C2.  Direct            2,000,000     19.95%

      All Officers and Directors
      as a Group ( 3 persons ) . . . . .  Direct            4,000,000     39.89%
</TABLE>




     (1)  All  shares  owned  directly are owned beneficially and of record, and
          such  shareholder  has  sole voting, investment and dispositive power,
          unless  otherwise  noted.













                                      -17-
<PAGE>



            ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS


TRANSACTIONS  WITH  MANAGEMENT  AND  OTHERS

Except  as  indicated  below,  there were no material transactions, or series of
similar  transactions,  since  inception  of  the Company and during its current
fiscal  period,  or  any  currently  proposed transactions, or series of similar
transactions,  to  which  the  Company  was  or  is  to  be  a  party,  in
which  the  amount  involved  exceeds  $60,000,  and  in  which  any director or
executive  officer, or any security holder who is known by the Company to own of
record  or beneficially more than 5% of any class of the Company's common stock,
or  any  member  of the immediate family of any of the foregoing persons, has an
interest.

INDEBTEDNESS  OF  MANAGEMENT

There  were  no  material transactions, or series of similar transactions, since
the  beginning  of  the  Company's  last  fiscal year, or any currently proposed
transactions,  or series of similar transactions, to which the Company was or is
to  be  a  part,  in which the amount involved exceeded $60,000 and in which any
director  or  executive  officer,  or  any  security  holder who is known to the
Company  to  own  of record or beneficially more than 5% of the common shares of
the Company's capital stock, or any member of the immediate family of any of the
foregoing  persons,  has  an  interest.

TRANSACTIONS  WITH  PROMOTERS

The  Company does not have promoters and has no transactions with any promoters.
























                                      -18-
<PAGE>



                                     PART IV


                          ITEM 13. EXHIBITS AND REPORTS


(a)  (1)        FINANCIAL  STATEMENTS.

The  following  financial  statements  are  included  in  this  report:

<TABLE>
<CAPTION>




Title of Document                                                                 Page
--------------------------------------------------------------------------------  ----
<S>                                                                               <C>

Report of Andersen, Andersen & Strong, Certified Public Accountants. . . . . . .    21

Balance Sheet as at April 30, 2002 . . . . . . . . . . . . . . . . . . . . . . .    22

Statement of Operations for the year ended April 30, 2002 and 2001
and for the period from May 5, 1999 (Date of
  Inception) to April 30, 2002 . . . . . . . . . . . . . . . . . . . . . . . . .    23

Statement in Changes in Stockholders' Equity for the period from May 5, 1999
   (Date of Inception) to April 30, 2002 . . . . . . . . . . . . . . . . . . . .    24

Statement of Cash Flows for the year ended April 30, 2002 and 2001
and for the period from May 5, 1999 (Date of
  Inception) to April 30, 2002 . . . . . . . . . . . . . . . . . . . . . . . . .    25

Notes to the Financial Statements. . . . . . . . . . . . . . . . . . . . . . . .    26

(a)  (2)   FINANCIAL STATEMENT SCHEDULES

The following financial statement schedules are included as part of this report:

None

(a)  (3)   EXHIBITS

The following exhibits are included as part of this report by reference:

None.
</TABLE>













                                      -19-
<PAGE>



                                   SIGNATURES




Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
this  report  has  been  signed  below by the following persons on behalf of the
Company  and  in  its  capacities  and  on  the  date  indicated:


                              QUINCY  RESOURCES  INC.



Date:                                   By:
                                        ---
                                          Adam  Smith
                                          President  and  Director



























                                      -20-
<PAGE>






ANDERSEN  ANDERSEN  &  STRONG,  L.C.             941  East 3300 South, Suite 220
CERTIFIED  PUBLIC  ACCOUNTANTS  AND  BUSINESS CONSULTANTS BOARD   SaltLake  City
Member  SEC  Practice  Section  of  the  AICPA                    Utah, 84106
                                                     Telephone 801-486-0096
                                                          Fax  801-486-0098


Board  of  Directors
Quincy  Resources  Inc.
Vancouver  B.  C.  Canada

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

We  have  audited  the  accompanying  balance  sheet  of  Quincy Resources, Inc.
(exploration  stage  company)  at  April  30, 2002, and the related statement of
operations,  stockholders'  equity, and cash flows for the years ended April 30,
2002  and 2001 and the period May 5, 1999 (date of inception) to April 30, 2002.
These  financial  statements are the responsibility of the Company's management.
Our  responsibility is to express an opinion on these financial statements based
on  our  audits.

We  conducted our audits in accordance with auditing standard generally accepted
in  the  United  States  of  America.  Those  standards require that we plan and
perform  the  audit  to  obtain reasonable assurance about whether the financial
statements  are free of material misstatement. An audit includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made  by  management  as  well as evaluating the overall
balance  sheet  presentation.  We  believe  that our audits provide a reasonable
basis  for  our  opinion.

In  our  opinion,  the financial statements referred to above present fairly, in
all  material respects, the financial position of Quincy Resources Inc. at April
30,  2002,  and  the results of operations, stockholders' equity, and cash flows
for  the years ended April 30, 2002 and 2001 and the period May 5, 1999 (date of
inception) to April 30, 2002, in conformity with accounting principles generally
accepted  in  United  States  of  America.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern. The Company will need additional
working  capital  to service its debt and for its planned activity, which raises
substantial  doubt  about  its  ability  to  continue  as  a  going  concern.
Management's  plans  in  regard  to these matters are described in Note 5. These
financial  statements  do not include any adjustments that might result from the
outcome  of  this  uncertainty.


Salt  Lake  City,  Utah
July  10,  2002                              /s/  "Andersen  Andersen  & Strong"







                                      -21-
<PAGE>



                              QUINCY RESOURCES INC.
                           (EXPLORATION STAGE COMPANY)
                                  BALANCE SHEET
                                 APRIL 30, 2002


<TABLE>
<CAPTION>




<S>                                                      <C>
ASSETS
CURRENT ASSETS

    Cash. . . . . . . . . . . . . . . . . . . . . . . .  $       41
                                                         -----------

         Total Current Assets . . . . . . . . . . . . .  $       41
                                                         ===========


LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES

    Account payable - related party . . . . . . . . . .       6,016
    Accounts payable. . . . . . . . . . . . . . . . . .      13,801
                                                         -----------

        Total Current Liabilities . . . . . . . . . . .      19,817
                                                         -----------

STOCKHOLDERS' EQUITY

    Common stock
        200,000,000 shares authorized, at $0.001 par
        value; 10,026,500 shares issued and outstanding      10,027

    Capital in excess of par value. . . . . . . . . . .      35,023

     Deficit accumulated during the exploration stage .     (64,826)
                                                         -----------

        Total Stockholders' Deficiency. . . . . . . . .     (19,776)
                                                         -----------

                                                         $       41
                                                         ===========
</TABLE>








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





                                      -22-
<PAGE>


                             QUINCY RESOURCES, INC.
                           (EXPLORATION STAGE COMPANY)
                             STATEMENT OF OPERATIONS
               FOR THE YEARS ENDED APRIL 30, 2002 AND 2001 AND THE
            PERIOD MAY 5, 1999 (DATE OF INCEPTION) TO APRIL 30, 2002


<TABLE>
<CAPTION>




<S>                         <C>           <C>           <C>

                               APR 30,       APR 30,     MAY 5, 1999 TO
                                2002          2001        APR 30, 2002
                            ------------  ------------  ----------------



REVENUES . . . . . . . . .  $         -   $         -   $             -

EXPENSES . . . . . . . . .       22,906        17,862            64,826
                            ------------  ------------  ----------------

NET LOSS . . . . . . . . .  $   (22,906)  $   (17,862)  $       (64,826)
                            ============  ============  ================




NET LOSS PER COMMON SHARE

    Basic. . . . . . . . .  $         -   $         -
                            ============  ============


AVERAGE OUTSTANDING SHARES

    Basic. . . . . . . . .   10,026,500    10,026,500
                            ============  ============
</TABLE>














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





                                      -23-
<PAGE>





                              QUINCY RESOURCES INC.
                           (EXPLORATION STAGE COMPANY)
                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
               FOR THE PERIOD FROM MAY 5, 1999 (DATE OF INCEPTION)
                                TO APRIL 30, 2002

<TABLE>
<CAPTION>




<S>                                      <C>         <C>        <C>         <C>
                                                               CAPITAL IN
                                         COMMON      STOCK      EXCESS OF   ACCUMULATED
                                         SHARES      AMOUNT     PAR VALUE   DEFICIT
                                         ----------  ---------  ----------  -------------

BALANCE MAY 5, 1999 (date of inception)           -  $       -  $        -  $          -

Issuance of common stock for cash at
    $0.001 - June 17, 1999. . . . . . .   4,000,000      4,000           -             -

Issuance of common stock for cash at
    $0.001 - July 26, 1999. . . . . . .   6,000,000      6,000           -             -

Issuance of common stock for cash at
    $0.10 - August 15, 1999 . . . . . .      26,500         27       2,623             -

Capital contributions - expenses -
     related parties. . . . . . . . . .           -     10,800           -

Net operating loss for the period from
    May 5, 1999 to April 30, 2000 . . .           -          -           -       (24,058)


Capital contributions - expenses -
    related parties . . . . . . . . . .           -          -      10,800             -

Net operating loss for the year ended
    April 30, 2001. . . . . . . . . . .           -          -           -       (17,862)
                                         ----------  ---------  ----------  -------------

BALANCE APRIL 30, 2001. . . . . . . . .  10,026,500     10,027      24,223       (41,920)

Capital contributions - expenses -
     related parties. . . . . . . . . .           -          -      10,800             -

Net operating loss for the year ended
    April 30, 2002. . . . . . . . . . .           -          -           -       (22,906)
                                         ----------  ---------  ----------  -------------

BALANCE APRIL 30, 2002. . . . . . . . .  10,026,500  $  10,027  $   35,023  $    (64,826)
                                         ==========  =========  ==========  =============
</TABLE>












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



                                      -24-
<PAGE>


                              QUINCY RESOURCES INC.
                           (EXPLORATION STAGE COMPANY)
                             STATEMENT OF CASH FLOWS
               FOR THE YEAR ENDED APRIL 30, 2002 AND 2001 AND THE
            PERIOD MAY 5, 1999 (DATE OF INCEPTION) TO APRIL 30, 2002


<TABLE>
<CAPTION>




<S>                                                          <C>            <C>               <C>

                                                                APRIL 30       APRIL 30.    MAY 5, 1999 TO
                                                                  2002           2001       APR 30,  2002
                                                             -------------  ---------------- -------------
CASH FLOWS FROM
     OPERATING ACTIVITIES

     Net loss . . . . . . . . . . . . . . . . . . . . . . .  $    (22,906)  $       (17,862)  $  (64,826)

     Adjustments to reconcile net loss to
     net cash provided by operating
     activities:

          Change in accounts payable. . . . . . . . . . . .        12,147             6,495       19,817
          Capital contribution - expenses - related parties        10,800            10,800       32,400
                                                             -------------  ----------------  -----------

               Net Change in Cash From Operations . . . . .            41              (567)     (12,609)
                                                             -------------  ----------------  -----------

CASH FLOWS FROM INVESTING
     ACTIVITIES . . . . . . . . . . . . . . . . . . . . . .             -                 -            -
                                                             -------------  ----------------  -----------

CASH FLOWS FROM FINANCING
     ACTIVITIES

          Proceeds from issuance of common stock. . . . . .             -                 -       12,650
                                                             -------------  ----------------  -----------

     Net Change in Cash . . . . . . . . . . . . . . . . . .            41              (567)          41

     Cash at Beginning of Period. . . . . . . . . . . . . .             -               567            -
                                                             -------------  ----------------  -----------

     Cash at end of period. . . . . . . . . . . . . . . . .  $         41   $             -   $       41
                                                             =============  ================  ===========




SCHEDULE OF NONCASH OPERATING
      ACTIVITIES

Capital contributions - expenses - related parties. . . . .  $     10,800   $        10,800   $   32,400
                                                             =============  ================  ===========
</TABLE>








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



                                      -25-
<PAGE>


                             QUINCY RESOURCES, INC.
                           (EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS


1.   ORGANIZATION

The  Company  was  incorporated  under the laws of the State of Nevada on May 5,
1999  with  authorized  common  stock of 200,000,000 shares at $0.001 par value.

The  Company  was  organized for the purpose of acquiring and developing mineral
properties.

Since  its  inception  the  Company  has  completed  Regulation  D  offerings of
10,026,500  shares  of  its  capital  stock  for  cash.

2.   SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

Accounting  Methods
-------------------

The  Company  recognizes  income  and  expenses  based  on the accrual method of
accounting.

Dividend  Policy
----------------

The  Company  has  not  yet  adopted  a  policy  regarding payment of dividends.

Income  Taxes
-------------

On April 30, 2002 the Company had a net operating loss carry forward of $64,826.
The  tax benefit of $19,448 from the loss carry forward has been fully offset by
a  valuation reserve because the use of the future tax benefit is doubtful since
the  Company  has  no  operations.  The  net  operating  loss  expires  in 2022.

Basic  and  Diluted  Net  Income  (Loss)  Per  Share
----------------------------------------------------

Basic  net  income  (loss)  per share amounts are computed based on the weighted
average  number  of  shares  actually  outstanding.

Capitalization  of  Mineral  Claim  Costs
-----------------------------------------

Cost of acquisition, exploration, carrying and retaining unproven properties are
expensed as incurred.  Costs incurred in proving and developing a property ready
for  production  are  capitalized  and  amortized  over  the life of the mineral
deposit  or over a shorter period if the property is shown to have an impairment
in  value.  Expenditures  for  mining  equipment are capitalized and depreciated
over  their  useful  life.

Environmental  Requirements
---------------------------

At  the  report  date  environmental  requirements related to the mineral leases
acquired  are  unknown  and  therefore any estimate of any future cost cannot be
made.


                                      -26-
<PAGE>


                             QUINCY RESOURCES, INC.
                           (EXPLORATION STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)



2.   SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED

Financial  Instruments
----------------------

The  carrying  amounts  of  financial  instruments,  including cash and accounts
payable,  are  considered  by  management  to  be  their  estimated fair values.

Estimates  and  Assumptions
---------------------------

Management  uses  estimates and assumptions in preparing financial statements in
accordance  with  generally  accepted accounting principles. Those estimates and
assumptions  affect  the  reported  amounts  of  the assets and liabilities, the
disclosure  of  contingent assets and liabilities, and the reported revenues and
expenses.  Actual  results  could  vary  from the estimates that were assumed in
preparing  these  financial  statements.

Comprehensive  Income
---------------------

The  Company  adopted  Statement of Financial Accounting Standards No. 130.  The
adoption  of  this  standard  had  no  impact on the total stockholder's equity.

Recent  Accounting  Pronouncements
----------------------------------

The  Company  does  not  expect  that  the  adoption  of other recent accounting
pronouncements  will  have  a  material  impact  on  its  financial  statements.

3.  ACQUISITION  OF  MINERAL  LEASE

The Company acquired and staked an undeveloped mineral claim containing 16 units
covering  256 hectares located in the Ferrier Creek area of the English Township
in  the Porcupine mining Division of Ontario, Canada approximately 50 kilometres
south  of  the  mining community of Timmins.  The claims have not been proven to
have  a commercially mineable ore reserve and therefore all costs of exploration
and  retaining  the  properties  have  been  expensed.

The  claims  are  in  good  standing  until  July  10,  2003.

4.  SIGNIFICANT  TRANSACTIONS  WITH  RELATED  PARTIES

Officer-directors  have  acquired  40%  of the common stock issued and have made
contributions  to  capital  by  the  payment  of  Company  expenses  of $32,400.

An  officer  has  made  advances  of $6,016 to the Company which is shown in the
accounts  payable.


                                      -27-
<PAGE>


                             QUINCY RESOURCES, INC.
                           (EXPLORATION STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)




5.  GOING  CONCERN

The  Company  will need additional working capital to service its debt and to be
successful  in  its  efforts  to  develop  the  mineral  lease  acquired.

Continuation  of  the  Company  as  a  going concern is dependent upon obtaining
additional  working  capital  and  the management of the Company has developed a
strategy, which it believes will accomplish this objective through contributions
from  officers,  additional  equity funding, and long term financing, which will
enable  the  Company  to  operate  in  the  coming  year.































                                      -28-
<PAGE>



ANDERSEN  ANDERSEN  &  STRONG,  L.C.             941  East 3300 South, Suite 220
CERTIFIED  PUBLIC  ACCOUNTANTS AND BUSINESS CONSULTANTS BOARD    Salt LakeCity,
Member  SEC  Practice  Section  of  the  AICPA                      Utah, 8416
                                               Telephone 801-486-0096
                                                    Fax  801-486-0098


Board  of  Directors
Quincy  Resources,  Inc.





We  have been engaged to audit the financial statements of the above Company for
the  period  ended April 30, 2002.   We are required to be independent according
to  the  standards  ("Standards")  established  by  the  American  Institute  of
Certified  Public  Accounts and within the meaning of the Securities Act ("Act")
administered  by  the  Securities  and  Exchange  Commission.

With  regards  to independence, we hereby report that there are no relationships
between  our  firm and any of our related entities and the above Company and its
related  entities that in our professional judgment may reasonably be thought to
bear  on  independence.   We,  therefore, confirm that we are independent of the
company  within  the  meaning  of  Acts  and  Standards.




                                        Sincerely

                                        /s/  Rex  Andersen

                                      -29-
<PAGE>