Access to Capital

Junior Mining Assistance Program (NBJMAP)

Link to webpage: https://www2.gnb.ca/content/gnb/en/departments/erd/energy/content/minerals/content/Incentives/NBJMAP.html 

The NBJMAP is a financial assistance program for private-sector mineral exploration companies, which is intended to increase the probability of finding economically viable mineral resources in New Brunswick. 

The program provides up to 50% of approved eligible costs for mineral exploration projects, with a maximum of $50,000 for any individual grant. 

New Brunswick Prospector Assistance Program (NBPAP)

Link to webpage: https://www2.gnb.ca/content/gnb/en/departments/erd/energy/content/minerals/content/Incentives/NBPAP.html

The NBPAP is a financial assistance program offered by the New Brunswick Department of Natural Resources and Energy Development (DNRED). The program is for prospectors searching for metallic or industrial minerals (except aggregates) in the province, who may receive:

• up to a maximum of $5,000 if the prospector does not have mineral claims at the time of application
• up to a maximum of $15,000 if the prospector has existing mineral claims at the time of application
• first time applicants generally receive a maximum of $1,000.
   

Prospector Promotion: 

This program is intended to facilitate the process of optioning New Brunswick mineral prospects to both junior and major mining companies. The program sponsors prospectors attending either the Cordilleran Roundup in Vancouver or the Prospectors and Developers Association Conference in Toronto.
 

Junior Exploration Assistance (JEA) Program

The JEA aims to grow the mineral inventory of the province through the discovery of new mineral districts, occurrences, prospects, and deposits.  JEA also aims to advance mineral discoveries through the stage of defining NI 43-101 compliant mineral resources. 

Beginning in 2024, JEA will also provide focused support for critical mineral exploration through Provincial Critical Mineral Assistance (PCMA). Eligible Critical Minerals for PCMA are based on Newfoundland & Labrador’s Critical Minerals List and are identified in the JEA 2024 Guidelines. Non-critical mineral projects will still receive a rebate through the provincial $1.3 million JEA grant funding.

For Fiscal Year 2024/2025, JEA has total budget of $3.9 million (out of which, $2.6 million for critical minerals projects and the rest of non-critical minerals). It will provide funding in the form of rebates for eligible exploration activities, to a maximum of $150,000 per project on the island of Newfoundland and $225,000 for Labrador-based projects. 

• Grassroots exploration: The program provides 75% of eligible costs. For companies receiving mineral revenue the rate is 50%.
• Non-grassroots exploration: The program provides 50% of eligible costs. For companies receiving mineral revenue the rate is 40%.

Prospecting Assistance Grants 

Link to webpage: https://www.gov.nl.ca/iet/mines/exploration/mip/prospectorast/#pg

• Direct financial assistance is provided to eligible residents who are at least 19 years of age and involved in independent mineral exploration activities.  
• Approved projects on crown land or the proponents’ registered claims are supported by grants of up to $6,000 for traditional and grass-roots prospecting.  
• Up to a maximum of $6,000 is also available for air (float plane or helicopter) support to access remote properties.  
• Assistance to a maximum of $12,000.00 may be available for projects considered to be at an “advanced” stage.

60% of the grant is paid in advance and the remainder is paid upon satisfactory completion of the project and submission of an approved final report.

Mining incentive Program (MIP)

Link to webpage: https://www.nwtgeoscience.ca/MIP

Northwest Territories Geological Survey
Industry, Tourism and Investment
Mining Incentive Program

Phone: 867-767-9211 poste 63469

Email: NTGS@gov.nt.ca

The Mining Incentive Program (MIP) provides funding to prospectors and exploration companies who propose new exploration projects or are already carrying out NWT mineral exploration work. The total MIP budget is $1.5 million, and all levels of exploration, from grassroots to advanced, are eligible for funding. 

Corporate Mining Incentive Program 

Link to webpage: https://www.iti.gov.nt.ca/en/services/corporate-mining-incentive-program

Application is open to exploration projects from any stage of development from grassroots to advanced projects. Eligible corporate applicants may apply for exploration grants of up to 60% of eligible expenses to a maximum of $240,000. The deadline to apply is the last business day in April, each year.

Prospector Mining Incentive Program

Link to webpage: https://www.iti.gov.nt.ca/en/services/prospector-mining-incentive-program 

Prospectors licenced to operate in the NWT can apply for up to $25,000 in funding for the following expense types: Wages, food and consumables, field gear, fuel, travel, analysis, equipment rental, professional consultation, self-isolation, logistics and expediting. The deadline to apply is the last business day in April, each year.

Mineral Resources Development Fund

Link to webpage: https://novascotia.ca/natr/meb/mrdp.asp

Mineral Resources Development Fund Administrator

Email: mrdf@novascotia.ca

The Mineral Resources Development Fund (MRDF) supports prospectors, exploration companies, researchers, students and projects in the mining sector that attract investment, help grow Nova Scotia's economy, build capacity and create jobs, especially in rural areas.

Prospecting grants (up to $40,000): Prospecting grants provide up to $40,000 of support and are intended to help explorers carry out grass-roots exploration activities and find economical mineral resources in Nova Scotia. Additional funds up to a maximum of $7,000 are available to support student employment and $2,500 for professional geoscientist (P.Geo) assistance with work conducted.

Shared funding exploration grants ($40,000 to $100,000; matching program): A shared-funding exploration grant is available to applicants who commit to investing more than $40,000 in a mineral exploration program in Nova Scotia. The grant will match or partially match the applicant's exploration investments and will provide awards between $40,000 and $100,000 for eligible expenses. Additional funds up to a maximum of $7,000 are available to support student employment and $2,500 for professional geoscientist (P.Geo) assistance with work conducted.

Marketing grants: Marketing grants are available for promoting mineral properties at trade shows. Applications and proposals for marketing grants are accepted throughout the fiscal year starting 1 April each year.

Research grants (maximum $90,000): Research grants are available for studies that support and encourage mineral exploration, development, mineral processing and value-added end-use applications of minerals in Nova Scotia. Research can include but isn’t limited to metallurgy studies, market or commodity studies, or research on subjects related to the mineral sector (like mineral exploration impact on species at risk, tailings management and any other studies that help inform and support the mineral sector). These grants require a written proposal. 

Education, outreach and engagement grants (maximum $50,000): Projects intended to educate and build public confidence or awareness in the mineral industry, prospector support and training, capacity building, indigenous and student education and training. These grants require a written proposal. Proposals are accepted throughout the fiscal year starting 1 April each year.

Innovation grants (maximum $100,000): Innovation focused on new uses for minerals, mineral process, data processing/GIS tools, exploration tools, mining methods, and mine reclamation studies focused on mineral extraction and remediation. These grants require a written proposal.

Communities’ grants (maximum $25,000): Grants are available for projects intended to support communities as they interact with the mining industry. Activities should be intended to support the mineral resource industry in Nova Scotia. Applications and proposals for marketing grants are accepted throughout the fiscal year starting April 1st each year. These grants require a written proposal

Nunavut Prospector’s Program (NPP)

Qualified prospectors may apply for a contribution of up to $8,000 per year to cover basic expenses while exploring for new mineral occurrences in Nunavut. This financial support applies to project-related expenses such as fuel, vehicle maintenance, food allowance while in the field, assistant wages, prospecting supplies, and mineral assay costs.

Community Engagement Support Program

Link to webpage: https://www.gov.nu.ca/en/industry/community-engagement-support-program

Department of Economic Development and Transportation  
Minerals & Petroleum Resources Division

Toll-free: 1-888-975-5999 tel:1-888-975-5999  

Email: cesp@gov.nu.ca

Flow-through Share Tax Credits

Link to webpage: https://www.ontario.ca/page/ontario-focused-flow-through-share-tax-credit

The Ontario Focused Flow-through Share Tax Credit is a refundable tax credit of 5% of eligible Ontario exploration expenses. It is payable to individual investors in flow-through shares, who pay Ontario income tax. The credit can be applied to reduce Ontario income tax payable and any unused amount of the credit will be refunded to the individual. The tax credit program unlike the federal METC has no automatic expiry date.

Ontario Junior Exploration Program (OJEP) 

Link to webpage: https://www.ontario.ca/page/ontario-junior-exploration-program

Ministry staff 

Email: OJEP@ontario.ca

The OJEP helps junior mining companies finance early exploration projects. 

Eligible junior mining companies can receive:

• up to $200,000 per project to cover 50% of eligible costs
• up to $10,000 to cover 100% of eligible costs per project supporting Indigenous employment and business opportunities

The OJEP has two streams: critical minerals stream and exploration stream. 

• Projects under the critical minerals stream are projects where a critical mineral, identified in Ontario’s critical minerals list, is the primary or secondary mineral exploration target. 
• Projects where the exploration target is a mineral not included in the list of critical minerals will be considered under the exploration stream. 

Link to webpage: https://mrnf.gouv.qc.ca/en/mines/mining-tax/other-tax-incentive-measures/

Contact Centre de services des mines

Phone: 418-627-6278; 1-800-363-7233

Email: services.mines@mrnf.gouv.qc.ca

Deduction of exploration and development expenses

Québec’s Taxation Act allows development companies operating mining enterprises to deduct certain expenses from their taxable income, including:

• 100 % of Canadian exploration expenses incurred (s. 395)
• 100 % of Canadian development expenses incurred (s. 408)
   

Quebec’s Flow-through Shares (FTS)

Québec’s Taxation Act provides a basic deduction of 100% of the cost of FTS, and up to additional 20% under the following conditions: 

• An additional 10% deduction is granted if the expenses are incurred in Québec by a non-operating company.
• An additional 10% deduction is allocated if the exploration is conducted from the surface 

As opposed to the federal scheme in which capital gains when selling the FTS are calculated based on a nil cost base, in Quebec the capital gain may be exempt up to the share purchase price

Investors may also be able to deduct certain FTS issue expenses (e.g. brokers’ commission, legal and accounting fees, printing fees) over a period of five years, to a limit of 12% of the proceeds of the FTS’ issue

Additional information on Québec’s flow-through share regime (in French only) can be found on Revenu Québec’s website.

Saskatchewan Mineral Exploration Tax Credit Program (SMETC) 

Link to webpage: https://www.saskatchewan.ca/business/agriculture-natural-resources-and-industry/mineral-exploration-and-mining/take-advantage-of-the-saskatchewan-mineral-exploration-tax-credit

Email: metc@gov.sk.ca

The Saskatchewan Mineral Exploration Tax Credit (SMETC) program provides 30% provincial tax credit, on top of the federal 15-30% credit, for Saskatchewan residents who invest in mineral exploration activities within the province by purchasing eligible flow-through shares issued by approved mineral exploration companies. This provincial tax credit follows the eligibility rules of the federal Mineral Exploration Tax Credit and has no expiry date.

Targeted Mineral Exploration Incentive (TMEI)

Link to webpage: https://www.saskatchewan.ca/business/investment-and-economic-development/business-incentives-and-tax-credits/targeted-mineral-exploration-incentive#further-information

TMEI Program

Phone: 306-798-4212

Email: tmei@gov.sk.ca

The TMEI program helps to support the diversification of Saskatchewan’s mineral sector by promoting drilling on hard rock mineral exploration projects. It provides financial assistance in the form of a grant to exploration companies that undertake eligible drilling activities. 

• The TMEI focuses specifically on supporting drilling, which is necessary for new discoveries;
• Overall annual program funding of $4 million;
• Eligible companies can receive a grant of 25% of direct drilling costs
  • up to $50,000 per year for uranium drilling; or
  • up to $150,000 per year for all other hard rock mineral projects.

The Yukon Mineral Exploration Program (YMEP)

Link to webpage: https://yukon.ca/en/mineral-exploration-funding

For questions about the program, contact Patrick Sack

Phone: 867-667-3203 

Email: ymep@yukon.ca

The YMEP is a funding program designed to support individual prospectors and companies exploring for mineral occurrences by reimbursing a portion of the risk capital required to explore.

*All minerals (critical or not) are eligible for YMEP funding; however, the evaluation criteria are weighted to give a modest advantage to critical mineral exploration projects.

To be eligible for YMEP funding, exploration expenditures for the entire property/project must not exceed $300 000 in a given funding year.

Hardrock Modules:

The hardrock modules are designed for prospectors, geologists, private and junior companies, and partnerships.  

• Grassroots: Funding up to a maximum of $25,000 to cover up to 100% of eligible expenses. The intent of this module is to generate new targets (priority will be given to new areas or targets). 
• Target Evaluation: Funding up to a maximum of $50,000 to cover up to 50% of eligible expenses. The intent of this module is to advance understanding of targets or districts.

Placer Module:  

Placer miners, prospectors, geologists, companies and partnerships (with total exploration expenditures under $300,000) may apply for the program. The program reimburses up to 50% of approved expenses to a maximum of $40,000 per year. The funding is for undertaking evaluation and advancement of new and existing placer targets.