Junior Exploration Assistance Program

Junior Exploration Assistance (JEA) 2024 aims to enhance the mineral inventory of Newfoundland and Labrador by supporting companies engaged in the discovery of new mineral prospects, occurrences, and deposits. It also provides focused support for critical mineral exploration through the Provincial Critical Mineral Assistance (PCMA) and Critical Mineral Assistance (CMA) programs.

The Junior Exploration Assistance (JEA) program for 2024 is designed to stimulate mineral exploration within the province of Newfoundland and Labrador. The goal is to grow the region's mineral inventory by discovering new mineral districts, occurrences, prospects, and deposits. Additionally, JEA aims to support the advanced stage of mineral discoveries to define National Instrument (NI) 43-101 compliant mineral resources. JEA 2024 also emphasizes enhancing Newfoundland and Labrador’s competitiveness globally as a premier mineral exploration destination. To achieve this, the program provides rebates for eligible exploration activities through a new combination of funding sources, including Provincial Grant funds, Critical Mineral Assistance (CMA) from the Atlantic Canada Opportunities Agency (ACOA), and the newly introduced Provincial Critical Mineral Assistance (PCMA).

One of the exciting developments for JEA in 2024 is the focused support for critical mineral exploration through an additional contribution from the Department of Industry, Energy and Technology (IET). Known as Provincial Critical Mineral Assistance (PCMA), this initiative allocates an additional $1.3 million to fund rebates for eligible exploration activities. Together with the existing $1.3 million ACOA-funded Critical Mineral Assistance (CMA), which continues through 2024 and 2025, JEA now comprises a total of $3.9 million in funding. This amount is broken down as follows: - $1.3 million from Provincial Grant funds - $1.3 million from CMA - $1.3 million from PCMA Funding under these programs will be applied to projects in the following order: CMA, if eligible; PCMA, if eligible; and Provincial Grant funds. This structuring ensures that larger rebates are available for companies engaging in critical mineral exploration within the province, thereby supporting a higher rate of participation in this crucial sector.

To qualify for the JEA 2024 program, companies must be primarily engaged in mineral exploration and/or mining and can receive direct or indirect revenues from mineral/mining operations. However, it is important to note that exploration activities conducted on mining leases with active operations are ineligible. Eligible companies must: - Be registered with the Provincial Registry of Companies. - Be in good standing with the Provincial Registry of Companies. - Have a Supplier Number from the Department of Finance, Financial Systems Control Division. - Hold the mineral rights to the exploration lands or have a registered agreement with the mineral rights holder. - Obtain Exploration Approval (ExA) or a Letter of Acceptance (LxA) from the Mineral Lands Division before commencing exploration activities.

Eligible exploration activities under JEA 2024 include a comprehensive range of initiatives essential for mineral discovery and development. These activities are categorized into grassroots and non-grassroots activities with specific funding percentages based on the type of company and exploration work. Grassroots Activities: - Defined as regional geochemical and geophysical surveys. - For companies not in receipt of mineral revenue, 75% of eligible grassroots costs up to a maximum of $150,000 per project on the Island of Newfoundland and up to $225,000 per project in Labrador. - For companies with mineral revenue, 50% of eligible grassroots costs up to the same maximum amounts. Non-Grassroots Activities: - Includes all exploration activities that are not regional surveys. - For companies not in receipt of mineral revenue, 50% of eligible costs up to the same maximum amounts. - For companies with mineral revenue, 40% of eligible costs up to the same maximum amounts. Funding is allocated across three exploration project categories: 1. Non-Critical Minerals as the Exploration Target. 2. Critical Minerals as a Primary Exploration Target. 3. Critical Minerals as a Secondary Exploration Target. If the total eligible JEA funding requests exceed available Provincial Grant funds, all projects will receive prorated rebates based on actual company expenditures, ensuring no project exceeds its maximum rebate amount.

To apply for JEA 2024, companies must submit a completed JEA 2024 Letter of Intent (LOI) to the Mineral Incentive Program (MIP) by June 21, 2024. The MIP must be notified of any significant changes to the exploration activities described in the LOI, as failure to do so will result in funding being limited to initially described activities. A review process will confirm the eligibility of proposed activities for JEA (CMA, PCMA, and Provincial Grant) funding, with companies receiving a response letter by July 12, 2024. Should there be disagreements regarding the eligibility assessment, companies must address these by July 19, 2024. A finalized list of participating companies and their proposed budgets will be posted on July 26, 2024.

Companies must also meet several obligations to qualify for JEA 2024 funding: - Acknowledge financial support from the JEA Program in all public information activities related to the project. - Ensure geochemical surveys align with industry standards, with a minimum ICP-34 multi-element analysis for all geochemical samples. - Favor services and goods from within Newfoundland and Labrador, where competitive in terms of price, quality, and delivery. - Maintain and preserve all books, accounts, and records related to the project for potential audits and examinations. - Submit a detailed technical report, including all required technical and financial information, by January 31, 2025.

For more information or to address inquiries, companies can contact the Mineral Incentive Program at the following email: MineralIncentive@gov.nl.ca. The JEA 2024 program represents an excellent opportunity for companies engaged in mineral exploration to access significant financial support, invest in critical mineral discovery, and contribute to the growth of Newfoundland and Labrador's mineral inventory.