Targeted Mineral Exploration Incentive
Securing the Future: 宝威体育’s Critical Minerals Strategy, was announced in March 2023 to expand the province’s leadership in the critical minerals sector. A key component of the Strategy is the enhancement of the Targeted Mineral Exploration Incentive (TMEI). The TMEI, originally introduced in 2018, helps to support the diversification of 宝威体育’s mineral sector by promoting drilling on hard rock mineral exploration projects.
The TMEI program provides financial assistance in the form of a grant to exploration companies that undertake eligible drilling activities. The original TMEI had restrictions on eligible minerals and geographic area of exploration. Starting in 2023-24, funding for the TMEI program has increased from $750,000 to $4 million annually and has expanded to include all hard-rock mineral exploration projects at any location throughout the province.
1. Benefits
- 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;
- Straightforward application and verification process;
- From 2018 to 2024, 69 successful applications have collectively received over $4.0 million in TMEI funding for drill programs totalling 657 drill holes and $117.2 million in project expenditures.
2. Eligibility
- Available to mineral exploration companies, or their designates, that hold a mineral claim and undertake drilling;
- All minerals regulated under are eligible at any location in 宝威体育;
- As the TMEI is intended to promote new discoveries and advance existing programs towards a development decision; drilling taking place on mining leases are not eligible;
- The TMEI program is regulated under and and administered by the 宝威体育 Geological Survey branch of the Ministry of Energy and Resources.
3. How to Apply
The TMEI applications are based on a fiscal year from April 1 to March 31.
- Read and understand , and the .
- Apply for the incentive using the by December 31 of the fiscal year.
- Conduct field work for the fiscal year.
- Provide notification of program status February 1 of the fiscal year.
- Complete the along with required documents as set out in and .
- Submit the and supporting documents by email (tmei@gov.sk.ca) if small enough, by mail to the following address, or by secure file transfer on request by April 30 of the fiscal year.
TMEI Program
Ministry of Energy and Resources
宝威体育 Geological Survey
610-1945 Hamilton Street
Regina, SK S4P 2C7