FORM 10-Q

               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D. C. 20549

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the Quarterly period ended January 31, 2000


                               OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 159D0 OF THE
SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to___________

Commission File No. 0-9558

                  INTERMOUNTAIN RESOURCES, INC.
     (Exact name of registrant as specified in its charter)

    NV                                           84-0817164
(State or other jurisdiction of              (I.R.S. Employer
incorporation or organization)               Identification No.)

P. O. Box 51600, Sparks, NV                              89435
(address of principal executive offices)               (zip code)

Registrant's telephone number, including area code (775) 359-2884

                         Not Applicable
   Former name, former address, former fiscal year, if changed

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 [ ]

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

13,700,000 shares of Common Stock, $.01 par value at January 31,
2000


<PAGE>
<TABLE>

INTERMOUNTAIN RESOURCES, INC.

BALANCE SHEETS (Unaudited)
_________________________________________________________________
<CAPTION>
                                         April 30,    January 31,
ASSETS:                                    1999           2000
                                           ----           ----
<S>                                     <C>            <C>
Current asset - Cash                        75,123         33,487
Mineral Properties                           6,514          6,514
                                          --------       --------
                                            81,637         40,001
                                          ========       ========
LIABILITIES AND EQUITIES:

Current liabilities--accrued expenses        3,794          3,794
                                          --------       --------
Stockholders' equity:
Common stock, par value $.01 per share.
Authorized 25,000,000 shares; issued
and outstanding 13,700,000 shares          137,000        137,000
Additional paid-in capital               1,351,318      1,351,318
Accumulated deficit                     (1,410,475)    (1,452,111)
                                       -----------    -----------
                                            77,843         36,207
                                       -----------    -----------
                                            81,637         40,001
                                       ===========    ===========
<FN>
See accompanying notes to unaudited financial statements.
</TABLE>
<PAGE>
<TABLE>
INTERMOUNTAIN RESOURCES, INC.

STATEMENTS OF OPERATIONS (Unaudited)
_________________________________________________________________
<CAPTION>
                           Three Months Ended    Nine Months Ended
                             January 31,           January 31,
                           1999       2000       1999     2000
                           ----       ----       ----     ----
<S>                       <C>         <C>       <C>       <C>
Revenues:
Mineral royalties            -          -        20,000     3,417
Interest                      763        367      3,022     1,385
                          -------    -------    -------   -------
                              763        367     23,022     4,802
                          -------    -------    -------   -------
Expenses:
Unallocated exploration
   expenses and rentals       878      4,200      2,028     7,260
General and
   administrative          13,071     13,225     43,894    39,178
                          -------     ------    -------   -------
Total expenses             13,949     17,425     45,922    46,438
                          -------     ------    -------   -------
Net earnings (loss)       (13,186)   (17,058)   (22,900)  (41,636)
                          =======     ======    =======   =======
<FN>
Net earnings (loss) per
share is less than $.005
per share in each period

See accompanying notes to unaudited financial statements.
</TABLE>

<PAGE>
<TABLE>
INTERMOUNTAIN RESOURCES, INC.

STATEMENTS OF CASH FLOWS (Unaudited)
_________________________________________________________________
<CAPTION>
                                           Nine Months Ended
                                               January 31,
                                              1999     2000
                                              ----     ----
<S>                                        <C>       <C>
Cash provided by (used in) operating
activities:
Net earnings (loss)                        (22,900)  (41,636)
Increase (decrease) in current liabilities ( 6,206)     -
                                           --------  -------
Net cash provided by (used in) operations  (29,106)  (41,636)

Investing activities--Mineral properties   (   476)     -

Cash at beginning of period                117,281    75,123
                                           --------  -------
Cash at end of period                       87,699    33,487
                                           =======   =======
<FN>
See accompanying notes to unaudited financial statements.
</TABLE>

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INTERMOUNTAIN RESOURCES, INC.

Notes To Unaudited Financial Statements
January 31, 2000
 _________________________________________________________________

1.  The financial statements as of January 31, 2000 are unaudited
but, in the opinion of management, reflect all adjustments
necessary for a fair presentation.

2.  As disclosed in the Forms 10-K for the years April 30, 1994, through
1998, the U. S. Forest Service has determined a release of hazardous
substances covered under the Comprehensive Environmental Response,
Compensation, and Liability Act occurred at Siskon Mine, a property
which the Company once had under option.  The Company is not aware
of any developments in this matter since the filing of the April 30,
1999 Form 10-K.

3.  Reference is made to the Company's annual financial statements
for the year ended April 30, 1999 for a description of its
accounting policies which have continued without change.  Also,
refer to the footnotes to those financial statements for additional
details of the Company's financial condition and results of
operations.  The details in those notes have not changed except as
a result of normal transactions in the interim.

<PAGE>

   MANAGEMENT ANALYSIS AND DISCUSSION OF FINANCIAL STATEMENTS

     The Iron Point prospect was leased out during 1996.  The lease generated
$20,000 during the nine months ended January 31, 1999.  The lease
was terminated by the Lessee effective June 30, 1999 so no revenue was
received during the current fiscal year.

     Unallocated exploration and rental expenses were somewhat higher for
the quarter and nine-months ended January 31, 1999 as a result of claim
block adjustments during the current year.  General and administrative
expenses were comparable for the quarter and slightly higher during the
nine-month period due primarily to professional fees incurred for an
independent audit as of April 30, 1998.

<PAGE>
                          PART II - OTHER INFORMATION

Item #6 Exhibits and Reports on Form 8-K

     a.  Exhibits

         Exhibit 27.  Financial Data Schedule

     b.  Reports on Form 8-K

         None


                            SIGNATURE

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

Dated:  March 2, 2000              INTERMOUNTAIN RESOURCES, INC.
                                   (a Nevada corporation)

                                   /s/L. W. Watson
                                   ------------------------
                                   L. W. Watson, President,
                                   Treasurer, and principal
                                   accounting officer