----

----

| North Carolina                                                |                                   | 56-1378516 |
|---------------------------------------------------------------|----------------------------------------|------------|
| (State or Other JurisdictionOf Incorporation or Organization) | (I.R.S. Employer IdentificationNumber) |
|                                                          |                                   |
| 18124 Wedge Parkway, Suite 214Reno, Nevada                    | 89511                                  |
| (Address of Principal Executive Offices)                      | (Zip Code)                             |

| Large accelerated filer                       |  ̈       | Accelerated filer               |  ̈  |
|-----------------------------------------------|--------------|---------------------------------|---------|
|  Non-accelerated filer                   |   ̈ |  Smaller reporting company |  x |
| (Do not check if a smaller reporting company) |

----

|                                                                                       | PageNumber |
|--------------------------------------------------------------------------------------------|------------|
|                                                                                       |       |
| PART I – FINANCIAL INFORMATION                                                       |       |
|    Item 1. Financial Statements                                             |       |
| Consolidated Balance Sheets                                                                | 3          |
| Consolidated Statements of Loss                                                            | 4          |
| Consolidated Statements of Cash Flows                                                      | 5          |
| Notes to Consolidated Financial Statements                                                 | 6          |
|    Item 2. Management’s Discussion and Analysis or Plan of Operations | 11         |
|    Item 3. Quantitative and Qualitative Disclosures About Market Risks      | 15         |
|    Item 4T. Controls and Procedures                                         |  15   |
|  PART II – OTHER INFORMATION                                                    |       |
|    Item 1. Legal Proceedings                                                | 15         |
|    Item 1A. Risk Factors.                                                   | 15         |
|    Item 2. Unregistered Sales of Equity Securities and Use of Proceeds      | 15         |
|    Item 3. Defaults Upon Senior Securities                                  | 16         |
|    Item 4. [Removed and Reserved]                                           | 16         |
|    Item 5. Other Information                                                | 16         |
|    Item 6. Exhibits                                                         | 16         |
|    Signature Page                                                           | 17         |

----

|                                                                                                                                                                             |   | September30, 2010       |        |   | December 31, 2009 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-------------|--------|-------------------|--------|
|                                                                                                                                                                             |   |  (unaudited)  |        |   |              |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |
| ASSETS                                                                                                                                                                           |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |
| CURRENT ASSETS                                                                                                                                                                   |   |                    |        |   |              |   |
| Cash                                                                                                                                                                             |   | $                       | 22          |   |              | $      | 16,466 |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
| RECLAMATION BOND (Note 2)                                                                                                                                                        |   |                    | 11,565      |   |              |   | 11,565 |   |
| MINERAL PROPERTIES (Note 2)                                                                                                                                                      |   |                    | 2           |   |              |   | 2 |   |
| INTEREST IN OIL LEASES                                                                                                                                                           |   |                    | 2           |   |              |   | 2 |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
|                                                                                                                                                                             |   | $                       | 11,591      |   |              | $      | 28,035 |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                                                                                      |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                              |   |                    |        |   |              |   |   |   |
| Accounts payable                                                                                                                                                                 |   | $                       | 277,357     |   |              | $      | 401,014 |   |
| Due to related parties (Note 3)                                                                                                                                                  |   |                    | 697,219     |   |              |   | 538,724 |   |
|                                                                                                                                                                             |   |                    | 974,576     |   |              |   | 939,738 |   |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
| CAPITAL STOCK (Note 4)                                                                                                                                                           |   |                    |        |   |              |   |   |   |
| Authorized:50,000,000 Preferred stock $1.00 par value200,000,000 Common stock no par valueCommon stock issued and outstanding:  78,376,025 shares (2009 – 70,123,643) |   |                    | 16,825,810  |   |              |   | 16,550,144 |   |
| ADDITIONAL PAID IN CAPITAL                                                                                                                                                       |   |                    | 872,644     |   |              |   | 872,644 |   |
| SHARE SUBSCRIPTIONS RECEIVED                                                                                                                                                     |   |                    | -           |   |              |   | 16,000 |   |
| DEFICIT                                                                                                                                                                          |   |                    | (12,564,287 | )      |              |   | (12,564,287 | ) |
| DEFICIT ACCUMULATED DURING THE EXPLORATION STAGE                                                                                                                                 |   |                    | (6,097,152  | )      |              |   | (5,786,204 | ) |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
| STOCKHOLDERS’ DEFICIT                                                                                                                                                      |   |                    | (962,985    | )      |              |   | (911,703 | ) |
|                                                                                                                                                                             |   |                    |        |   |              |   |   |   |
|                                                                                                                                                                             |   | $                       | 11,591      |   |              | $      | 28,035 |   |

----

|                                                                                      |   | Three months ended September 30, 2010 |   | Three months ended September 30, 2009 |   | Nine months ended September 30, 2010 |   | Nine months ended  September 30,  2009 |   | For the Period from January 1, 2002 (Date of Inception of Exploration Stage) to September 30, 2010 |
|-------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|---------------------------------------|--------|--------------------------------------|--------|------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------|
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| REVENUES                                                                                  |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| Oil revenues                                                                              | $      | -                                     |   | 3,233                                 |   | -                                    |   | 3,233                                                      |   | 3,233                                                                                              |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| EXPENSES                                                                                  |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| Depreciation                                                                              |   | -                                     |   | -                                     |   | -                                    |   | 65                                                         |   | 146,383                                                                                            |
| Exploration, geological and geophysical costs (Note 2)                                    |   | 402                                   |   | 56,488                                |   | 25,979                               |   | 86,133                                                     |   | 2,345,489                                                                                          |
| Finance fees                                                                              |   | -                                     |   | -                                     |   | -                                    |   | -                                                          |   | 191,200                                                                                            |
| General and administrative                                                                |   | 9,183                                 |   | 14,718                                |   | 55,500                               |   | 87,179                                                     |   | 953,996                                                                                            |
| Impairment of mineral properties                                                          |   | -                                     |   | 25,000                                |   | -                                    |   | 25,000                                                     |   | 341,974                                                                                            |
| Management fees                                                                           |   | 42,000                                |   | 49,500                                |   | 126,000                              |   | 149,984                                                    |   | 1,140,872                                                                                          |
| Professional fees                                                                         |   | 39,392                                |   | 9,626                                 |   | 104,044                              |   | 64,698                                                     |   | 966,706                                                                                            |
|                                                                                      |   | 90,977                                |   | 155,332                               |   | 311,523                              |   | 413,059                                                    |   | 6,086,620                                                                                          |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| LOSS BEFORE OTHER ITEMS                                                                   |   | (90,977)                              |   | (152,099)                             |   | (311,523)                            |   | (409,826)                                                  |   | (6,083,387)                                                                                        |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| OTHER ITEMS                                                                               |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| Interest income                                                                           |   | -                                     |   | -                                     |   | -                                    |   | -                                                          |   | 32,325                                                                                             |
| Other non-operating income ( losses)                                                 |   | 500                                   |   |                                  |   | 575                                  |   | 19,700                                                     |   | (26,090)                                                                                           |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| NET LOSS FOR THE PERIOD                                                                   | $      | (90,477)                              |   | (152,099)                             |   | (310,948)                            |   | (390,126)                                                  |   | (6,097,152)                                                                                        |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING -   BASIC AND DILUTED |   | 78,376,025                            |   | 69,617,302                            |   | 72,979,364                           |   | 68,952,978                                                 |   |                                                                                               |
|                                                                                      |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
|    BASIC AND DILUTED                                                       |   |                                  |   |                                  |   |                                 |   |                                                       |   |                                                                                               |
| LOSS PER SHARE                                                                            |   | $ (0.004)                             |   | $ (0.002)                             |   | $(0.004)                             |   | $(0.006)                                                   |   |                                                                                               |

----

|                                                                    |   | Nine months endedSeptember 30,2010 |     |   | Nine months endedSeptember 30,2009 |   |     | For the Period from January 1, 2002 (Date of Inception of Exploration Stage) toSeptember 30, 2010 |   |
|-------------------------------------------------------------------------|--------|------------------------------------|----------|--------|------------------------------------|--------|----------|---------------------------------------------------------------------------------------------------|--------|
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                    |   |                               |     |   |                               |   |     |                                                                                              |   |
| Net loss for the period                                                 |   | $                                  | (310,948 | )      |                               | $      | (390,126 | )                                                                                                 |   | $ | (6,317,623 | ) |
| Adjustments to reconcile net loss to net cash from operating activities |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| - depreciation                                                          |   |                               | -        |   |                               |   | 65       |                                                                                              |   |   | 146,383 |   |
| - impairment of mineral properties                                      |   |                               | -        |   |                               |   | 25,000   |                                                                                              |   |   | 341,974 |   |
| - stock based compensation                                              |   |                               | -        |   |                               |   | 23,984   |                                                                                              |   |   | 409,468 |   |
| - warrants issued as finance fee                                        |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | 92,100 |   |
| - stock issued as finance fee                                           |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | 100,000 |   |
| - other income                                                          |   |                               |     |   |                               |   | -        |                                                                                              |   |   | 21,100 |   |
| - loss on other non-operating activities                                |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | (21,000 | ) |
| Changes in operating assets and liabilities:                            |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| -  accounts receivable                                        |   |                               |     |   |                               |   | (1,778)  |                                                                                              |   |   |   |   |
| - prepaid expenses and other                                            |   |                               | -        |   |                               |   | 30,065   |                                                                                              |   |   | 949 |   |
| - due to related parties                                                |   |                               | 158,495  |   |                               |   | 230,911  |                                                                                              |   |   | 713,198 |   |
| - accounts payable and accrued liabilities                              |   |                               | 113,509  |   |                               |   | 43,812   |                                                                                              |   |   | 676,658 |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| NET CASH USED IN OPERATING ACTIVITIES                                   |   |                               | (38, 944 | )      |                               |   | (38,067  | )                                                                                                 |   |   | (3,836,793 | ) |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| CASH FLOWS USED IN INVESTING ACTIVITIES                                 |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| Refund of reclamation bond                                              |   |                               | -        |   |                               |   | 1,797    |                                                                                              |   |   | 1,797 |   |
| Purchase of equipment                                                   |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | (5,579 | ) |
| Purchase of oil and gas interests                                       |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | (2 | ) |
| Mineral property costs                                                  |   |                               | -        |   |                               |   | (2,500   | )                                                                                                 |   |   | (296,042 | ) |
| Proceeds from non-operating activities                                  |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | 97,125 |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| NET CASH USED IN INVESTING ACTIVITIES                                   |   |                               | -        |   |                               |   | (703     | )                                                                                                 |   |   | (202,701 | ) |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| Issuance of shares for cash, net of issuance costs                      |   |                               | 22,500   |   |                               |   | 40,000   |                                                                                              |   |   | 3,747,674 |   |
| Convertible notes                                                       |   |                               | -        |   |                               |   | -        |                                                                                              |   |   | 291,145 |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| NET CASH FROM FINANCING ACTIVITIES                                      |   |                               | 22,500   |   |                               |   | 40,000   |                                                                                              |   |   | 4,038,819 |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| INCREASE (DECREASE) IN CASH                                             |   |                               | (16,444  | )      |                               |   | 1,230    |                                                                                              |   |   | (675) |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| CASH, BEGINNING                                                         |   |                               | 16,466   |   |                               |   | 582      |                                                                                              |   |   | 697 |   |
|                                                                    |   |                               |     |   |                               |   |     |                                                                                              |   |   |   |   |
| CASH, ENDING                                                            |   | $                                  | 22       |   |                               | $      | 1,812    |                                                                                              |   | $ | 22 |   |

----

----

|               |   | Balance as at December 31, 2009 |   |
|--------------------|--------|---------------------------------|--------|
| Mineral Properties |   | and September 30, 2010          |   |
|               |   |                            |   |
| Dutch Flat         |   | $                               | 1      |   |
| PPM Gold           |   |                            | 1      |   |
|               |   | $                               | 2      |   |

| Reclamation Bonds |   |   |   |   |
|-------------------|--------|--------|--------|--------|
| PPM Gold          |   | $      | 11,565 |   |

| 2. | The Company shall expend the following sums on exploration and maintenance of the property during the first 5 years of the Agreement: |
|----|---------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Upon completion of the $2,000,000 in exploration expenditures over the 5-year period, the Company shall have earned a 51% interest in the property and can then elect to either 1) form a joint venture at that point whereby the Company would own 51%, or 2) earn an additional 19% interest in the property by funding a positive feasibility study and then form a joint venture.  The Company would be the operator of the joint venture. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | Six of these claims are subject to a 1.5% net smelter returns royalty.  Another company, in which one of the Company’s Directors has an interest, holds a 1% net smelter returns royalty on another sixteen of these claims.                                                                                                                                                                                                             |

----

----

|                            |   |      |       |   | Weighted       |   |
|---------------------------------|--------|-----------|------------|--------|----------------|--------|
|                            |   | Number of |       |   | Average        |   |
|                            |   | Options   |       |   | Exercise Price |   |
| Total Options:                  |   |      |       |   |           |   |
| Outstanding, December 31, 2009  |   |      | 5,475,000  |   |           | $      | 0.24 |   |
|    Expired       |   |      | (1,225,000 | )      |           |   | 0.20 |   |
|                            |   |      |       |   |           |   |   |   |
| Outstanding, September 30, 2010 |   |      | 4,250,000  |   |           | $      | 0.25 |   |

----

|                                      |      | Weighted                                  |                                       |   |      | Weighted        |                                 |   |
|-------------------------------------------|-----------|-------------------------------------------|--------------------------------------------|--------|-----------|-----------------|--------------------------------------|--------|
|                                      |      | Average                                   |                                       |   |      | Average         |                                 |   |
|                                      |      | Remaining                                 | Weighted                                   |   |      | Remaining       | Weighted                             |   |
| Range of                                  | Number    | Contractual                               | Average                                    |   | Number    | Contractual     | Average                              |   |
| Exercise Prices                           | of Shares | Life (in years)                           | Exercise Price                             |   | of Shares | Life (in years) | Exercise Price                       |   |
|                                      |      |                                      |                                       |   |      |            |                                 |   |
| Options outstanding at September 30, 2010 |      | Options exercisable at September 30, 2010 |
| $ 0.23 – 0.28                       | 4,250,000 | 0.86                                      | $      0.246 |   | 4,250,000 | 0.86            | $     0.246 |   |
|                                      |      |                                      |                                       |   |      |            |                                 |   |
| Options outstanding at December 31, 2009  |      | Options exercisable at December 31, 2009  |
| $ 0.20 – 0.28                       | 5,475,000 | 1.30                                      | $      0.237 |   | 5,475,000 | 1.30            | $     0.237 |   |

|                        |   | Number ofWarrants |       |   | Weighted averageexercise price |   |   | Weighted averageremaining life (years) |   |
|-----------------------------|--------|-------------------|------------|--------|--------------------------------|--------|--------|----------------------------------------|--------|
| Balance, December 31, 2009  |   |              | 6,454,868  |   |                           |   | 0.24   |                                   |   |   | 0.69 |   |
| Issued                      |   |              | 1,966,667  |   |                           |   | 0.035  |                                   |   |   | 2.56 |   |
| Exercised                   |   |              | -          |   |                           |   |   |                                   |   |   | - |   |
| Expired                     |   |              | (5,100,702 | )      |                           |   | 0.269  |                                   |   |   | - |   |
| Balance, September 30, 2010 |   |              | 3,320,833  |   |                           |   | 0.061  |                                   |   |   | 0.41 |   |

----

| Other information          |   | Nine months endedSeptember 30, 2010 |   |   | Nine months endedSeptember 30, 2009 |   |
|----------------------------|--------|-------------------------------------|--------|--------|-------------------------------------|--------|
| Cash paid for interest     |   | $                                   | -      |   |                                | $      | - |   |
| Cash paid for income taxes |   | $                                   | -      |   |                                | $      | - |   |

----

| ·   | Obtain financing to continue our operations: |
|--------------------|----------------------------------------------|

| ·   | Locate one or more economic mineral deposits which could then be put into production from which we would then be able to extract gold or silver at a profit: or |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Enter into a joint venture with a third party. |
|--------------------|------------------------------------------------|

----

----

|    | · | Required work expenditure: $1,500,000 by July, 2010, of which $550,677 was expended by the Company as of September 30, 2010. Further work will depend upon the timing and receipt of additional funds.  The parties would like to proceed with this project, but further progress will depend upon the Company’s ability to obtain additional funds. |
|--------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Claims maintenance fees have been paid through August 31, 2010. |
|--------|--------|-----------------------------------------------------------------|

|   | · | Annual payments; $0. |
|--------|--------|----------------------|

|    | · | Required work expenditure to April 2008: $175,000, of which $126,027 has been expended;   The Company has not been able to meet its exploration expenditure requirements in a timely manner because of inadequate funds. The timing and amount of additional work will depend upon the timing and amount of funding received.  Both parties wish to continue with the planned exploration program for the property once adequate funding can be obtained to proceed. |
|--------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Claims maintenance fees were paid by Miranda US in August, 2010.  |
|--------|--------|------------------------------------------------------------------------|
|   | · | Annual payments; $0.                                                   |

|   | · | On May 20, 2008, a Letter of Intent was signed on the Morgan Pass Project.  This Letter of Intent was terminated during the third quarter of 2010. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Exhibit No. | Description                                                                                                |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1        | Certification Pursuant to Section 302*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 32.1        | Certification Pursuant to 18 U.S.C. Section 1350*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

|                                      | PIEDMONT MINING COMPANY, INC.,                                                                                                                                                                        |
|-------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                      | a North Carolina Corporation                                                                                                                                                                          |
|                                      |                                                                                                                                                                                                  |
|                                      |                                                                                                                                                                                                  |
|                                      |                                                                                                                                                                                                  |
| Dated:   November 15, 2010 |   /s/ Robert M. Shields, Jr.                                                                                                                                                                     |
|                                      | By:  Robert M. Shields, Jr.Its:  Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) |

----