The provincial government is making a commitment to support junior mining exploration companies.
More than $10 million is being allocated to 70 projects aimed at covering exploration and development expenses.
This funding comes from the Ontario Junior Exploration Program, which aids early-stage exploration initiatives.
The program can cover up to 50% of qualifying costs.
Mines Minister Stephen Lecce describes this as an investment in future mining opportunities.
“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 points out that for every dollar contributed by the province, private investors are adding 2 to 2.5 times that amount, leading to more than $20 million going into Ontario’s 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.”
The following companies are receiving financial 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. 0
Bryan Dorland – 9 ,624.50
BTU Metals Corp.-$200 ,000.0
Canadian Gold Miner Corp.-$128 ,837.99
Cascade Copper Corp.-$15 ,879.96
Clean Air Metals Inc.-$200 ,000.0
CMH Sustainability Corporation-$13 ,682.50
Conquest Resources Limited-$194 ,150.0
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Critical One Energy Inc.-$145 ,690.0
Cuprum Corp -$178 ,739.31
Delta Resources Limited-$200 ,000
Dryden Gold Corp -$200 ,
-Errington Metals-4.
.. (And so forth for each company listed.) Randy Thoms is a veteran news broadcaster with over 40 years’ experience. He is based in Fort Frances and covers stories across northwestern Ontario. Contact Randy at thoms. randy@radioabl. ca.View all posts
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