Targeted Mineral Exploration Incentive
Securing the Future: Saskatchewan’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 Saskatchewan’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.
- 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;
- Simple two-step application process;
- From 2018 to 2023, 41 successful applications have collectively received over $2 million in TMEI funding for drill programs totalling 452 drill holes and $40 million in drilling expenditures.
- Available to mineral exploration companies, or their designates, that hold a mineral claim and undertake drilling;
- All minerals regulated under The Mineral Tenure Registry Regulations are eligible at any location in Saskatchewan;
- 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 The Targeted Mineral Exploration Incentive Regulations (2018) and The Targeted Mineral Exploration Incentive Amendment Regulations, 2023 and administered by the Saskatchewan 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 The Targeted Mineral Exploration Incentive Regulations, The Targeted Mineral Exploration Incentive Amendment Regulations, 2023 and the Information and Q&A documents.
- Apply for the incentive using the TMEI Application Form 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 Verification of Work Form along with required documents as set out in The Targeted Mineral Exploration Incentive Regulations and The Targeted Mineral Exploration Incentive Amendment Regulations, 2023.
- Submit the Verification of Work Form and supporting documents by email (firstname.lastname@example.org) if small enough, by mail to the following address, or by secure file transfer on request by April 30 of the fiscal year.
Ministry of Energy and Resources
Saskatchewan Geological Survey
610-1945 Hamilton Street
Regina, SK S4P 2C7