A commitment from the provincial government to junior mining exploration companies.
Over $10 million is being issued to 70 projects to help with exploration and development costs.
The money comes from the Ontario Junior Exploration Program, which supports early-stage exploration efforts.
The program covers up to 50% of eligible expenses.
Mines Minister Stephen Lecce calls it an investment in the next generation of mines.
“Regardless of where these 68 odd projects may end up, the signal is today their government is standing behind them, and they have a much higher success rate of getting to the market,” says Lecce.
“From exploration to extraction, that doesn’t happen by accident. It requires a lot of capital. And so on the government side, putting dollars on the table helps at the front end.”
Lecce notes that for every dollar the province provides, the private sector is contributing 2 to 2 1/2 times that, leading to an over $20 million investment in the provincial economy.
“It’s a demonstration this program works because fundamentally, we need to identify the next mine of critical minerals, rare earths, whatever it may be that helps support our prosperity and our self-reliance.”
Here are the companies receiving assistance;
Company name/Approved funding amount
100117079 Ontario Inc. – $200,000.00
1796795 Ontario Inc O/A Flyrock Capital – $200,000.00
1796796 Ontario Inc. – $200,000.00
2681891 Ontario Inc. – $15,824.52
Advanced Gold Exploration Inc. – $79,975.00
Athena Gold Corporation – $200,000.00
Axies Canada Inc. – $13,871.65
Balkan Tango Inc. – $48,250.00
Blackrock Exploration Inc. – $104,228.88
Bold Ventures Inc. – $212,500.00
Brian Berdusco – $64,525.00
Bryan Dorland – $9,624.50
BTU Metals Corp. – $200,000.00
Canadian Gold Miner Corp. – $128,837.99
Cascade Copper Corp. – $15,879.96
Clean Air Metals Inc. – $200,000.00
CMH Sustainability Corporation – $13,682.50
Conquest Resources Limited – $194,150.00
Critical One Energy Inc. – $145,690.00
Cuprum Corp. – $178,739.31
Delta Resources Limited – $200,000.00
Dryden Gold Corp. – $200,000.00
Errington Metals Inc. – $200,000.00
EV Nickel Inc. – $200,000.00
Explor Resource Inc. – $199,884.90
Fairtide Ventures Limited – $200,000.00
First Class Metals Canada Inc. – $207,500.00
George Zebruck – $35,589.86
GFG Resources Inc. – $200,000.00
Gold Finder Resources Ltd. – $42,341.76
Goldstake Explorations Inc. – $54,087.50
Imagine Lithium Inc. – $200,000.00
Inventus Mining Corp. – $215,000.00
JoBina Resources Inc. – $215,000.00
Kirkland Lake Discoveries Corp. – $215,000.00
Landore Resources Canada Inc. – $215,000.00
Libra Lithium Corp. – $200,000.00
Lost Hope Mine Ltd. – $6,454.40
Michael Thompson – $57,135.00
Midex Resources Ltd. – $34,700.00
Mink Ventures Corporation – $99,949.06
Neotech Metals Corp. – $200,000.00
New Break Resources Ltd. – $200,000.00
Noble Mineral Exploration Inc. – $200,000.00
Plethora Green Energy Corp. – $215,000.00
Prospector Metals Corp. – $157,532.41
Ptx Metals Inc. – $215,000.00
Red Mountain Mining CA Ltd. – $58,205.00
Red Pine Exploration Inc. – $200,000.00
Richmond Minerals Inc. – $200,000.00
Riverside Resources Inc. – $200,000.00
Shear Gold Exploration Corp. – $27,232.50
Sierra Development Services Inc. – $39,400.00
Solstice Gold Corp. – $212,000.00
South Shore Partnership Inc. – $64,385.00
Sparton Resources Inc. – $82,207.00
SPC Nickel Corp. – $200,000.00
Sterling Metals Corp. – $215,000.00
Thunder Gold Corp. – $212,000.00
Timothy Towers – $9,360.90
Todd Fielding – $29,409.50
Tombill Exploration Limited – $108,327.48
Transition Metals Corp. – $215,000.00
Volta Metals Ltd. – $215,000.00
Wabassi Resources, ULC – $215,000.00
Whitefish Exploration Inc. – $51,192.50
Winshear Gold Corp. – $174,496.96
Xplore Resources Corp. – $122,500.00
