Saskatchewan Government Strengthens Mineral Exploration Incentive

CANADA, July 9 - Released on July 9, 2025

The Government of Saskatchewan is expanding the Targeted Mineral Exploration Incentive (TMEI) to include more early-stage exploration activities to support mining sector growth and investment.

Launched in 2018, the TMEI program provides financial assistance in the form of a grant to exploration companies that undertake eligible drilling activities. The TMEI program is being expanded to cover a wider range of exploration activities, such as ground-based and borehole geophysical surveys and important pre-sampling tasks like core logging. These changes aim to increase program uptake and enable more exploration for critical and emerging minerals. Specifically, the changes are expected to improve the ability of smaller companies to raise private sector capital to undertake exploration activities.

"TMEI has been key to diversifying Saskatchewan's mining sector by promoting drilling on hard rock mineral exploration projects," Energy and Resources Minister Colleen Young said. "These changes will help us achieve our goals set out in Saskatchewan's Critical Minerals Strategy, specifically, increasing Saskatchewan's share of Canadian mineral exploration spending to 15 per cent and doubling the number of critical minerals produced in Saskatchewan, all by 2030." 

By recognizing a broader scope of the exploration process, this expansion is supporting new mineral discoveries and the diversification of our mining sector. With continuing advancements in helium, lithium, copper and zinc, and record production in uranium and potash, Saskatchewan is responding to growing global demand for critical minerals. 

"Expanding TMEI funding to include additional generative, early-stage exploration activities will help identify more drill targets, attracting greater investor interest and capital to Saskatchewan," Saskatchewan Mining Association President Pam Schwann said. "The collaborative partnership between government and industry exemplifies why Saskatchewan is a premier exploration and mining destination."

In 2024-25, 27 exploration projects were approved for $1.9 million in TMEI funding with companies spending a total of $76.5 million on these projects. Since 2018, 96 projects have received $5.9 million in TMEI funding, resulting in 926 exploration drill holes and $172.5 million in total project expenditures.     

Saskatchewan has 27 of the 34 critical minerals on Canada's list and is the largest primary producer of critical minerals in Canada. With a suite of competitive incentive programs including TMEI, a predictable and stable regulatory framework, and an abundance of resources, Saskatchewan is one of the best places in the world to invest in resource development. Clear and stable supports like the TMEI program help build Saskatchewan's resource sector and strengthen the provincial economy which benefits all Saskatchewan people.

For more information about the TMEI, visit: Targeted Mineral Exploration Incentive.

To review Saskatchewan's Critical Minerals Strategy, visit: Securing the Future: Saskatchewan's Critical Minerals Strategy.

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