Ottawa – Jonathan Wilkinson, Minister of Energy and Natural Resources, announced on behalf of Dominic LeBlanc, Minister of Finance and Intergovernmental Affairs, that the federal government proposes to extend the 15 per cent Mineral Exploration Tax Credit for investors in flow-through shares for an additional two years, until March 31, 2027.
The Mineral Exploration Tax Credit, which was scheduled to expire on March 31, 2025, provides important support to junior mineral exploration companies working to unlock Canada’s tremendous mineral wealth, creating jobs, and growing the economy. This extension is expected to provide $110 million to support mineral exploration investment.
Canada’s abundant minerals and metals are a key driver of our economy, and the Government of Canada is investing to support the talented workers, infrastructure, innovation, and environmental stewardship necessary to sustainably develop our natural resources, creating good-paying jobs that grow the economy.
“The proposed extension of the Mineral Exploration Tax Credit is a testament to our belief in Canada’s vast mineral potential. By supporting the talent and innovation of our resource sector, we are driving economic growth, creating jobs, supporting communities and positioning Canada as a global leader and reliable supplier of critical minerals to the world.” – Dominic LeBlanc, Minister of Finance and Intergovernmental Affairs
“Canada has long been a mining nation, with the responsible and sustainable management of our mineral resources driving job creation and economic growth for generations. Today’s announcement extending the Mineral Exploration Tax Credit reaffirms Canada’s commitment to strengthening this vital sector. The Mineral Exploration Tax Credit provides support to junior exploration companies as they develop the mines of the future and lay the groundwork to supply the world with the minerals it is looking for.” – Jonathan Wilkinson, Minister of Energy and Natural Resources