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Saskatchewan Mineral Exploration Tax Credit
Tax credit for Saskatchewan mineral exploration investments
Last Update: March 4, 2026
Funding available
Up to 45% of project cost
Timeline
- Open continuously
Location
Saskatchewan, Canada
Overview
Saskatchewan residents can invest in eligible flow-through shares issued by approved mineral exploration companies in the province. The program offers a tax credit of 45% to 60% and supports exploration activities through flow-through shares and flow-through warrants.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Conduct research or evaluation activities
Eligible Funding
- Up to 45% of project cost
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- Mining, quarrying, and oil and gas extraction
Location
- Saskatchewan
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Issuing flow-through shares or flow-through warrants for mineral exploration.
- Raising capital for exploration activities in Saskatchewan.
Documents Needed
- Completed CRA Form T100A.
- CRA approval letter showing the SITIN or TIN.
- List of Saskatchewan Disposition Numbers.
Eligibility
Who is eligible?
- Mineral exploration companies.
- Individual investors who are Saskatchewan residents.
- Financial partnerships.
Who is not eligible
- Trusts.
Eligible expenses
The Saskatchewan Mineral Exploration Tax Credit (SMETC) program is designed to incentivize exploration activities for the sustainable development of the province's mineral resources. Projects involve financial activities related to mineral exploration investments and issuance of flow-through shares by approved companies.
- Issuance of flow-through shares by mineral exploration companies to raise capital.
- Renunciation of tax expenses related to exploration activities by mineral companies to investors.
- Investment in eligible mineral exploration companies through flow-through shares by individual investors or partnerships.
Eligible geographic areas
- Saskatchewan.
Processing and Agreement
- Applications are reviewed by the Saskatchewan Ministry of Energy and Resources.
- Approved companies receive written permission to raise capital for exploration activities.
- After approval and share sales, mandatory reporting must be filed with the ministry.
Additional information
The SMETC program provides an attractive tax credit for Saskatchewan residents who invest in mineral exploration within the province, encouraging long-term sustainable development of its mineral resources. Investors can benefit from substantial tax deductions while supporting local exploration activities conducted by approved companies.
- Contact: Aaron Saufert, Director, Mineral Programs and Development
- Email for applications/inquiries: metc@gov.sk.ca
- Phone: 306-787-3377
Contacts
Frequently Asked Questions about the Saskatchewan Mineral Exploration Tax Credit Program
Here are answers to the most common questions about the Saskatchewan Mineral Exploration Tax Credit. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Saskatchewan Mineral Exploration Tax Credit?
Saskatchewan residents can invest in eligible flow-through shares issued by approved mineral exploration companies in the province. The program offers a tax credit of 45% to 60% and supports exploration activities through flow-through shares and flow-through warrants.
How much funding can be received?
Saskatchewan Mineral Exploration Tax Credit Funds up to 45% of admissible expenses.
Who is eligible for the Saskatchewan Mineral Exploration Tax Credit program?
To be eligible for the Saskatchewan Mineral Exploration Tax Credit program, you must:
Approved mineral exploration companies.
Flow-through shares or warrants for Saskatchewan exploration.
What expenses are eligible under Saskatchewan Mineral Exploration Tax Credit?
Issuing flow-through shares or flow-through warrants for mineral exploration.
Raising capital for exploration activities in Saskatchewan.
Who can I contact for more information about the Saskatchewan Mineral Exploration Tax Credit?
You can contact Government of Saskatchewan by email at metc@gov.sk.ca or by phone at 306-787-3377.
Where is the Saskatchewan Mineral Exploration Tax Credit available?
The Saskatchewan Mineral Exploration Tax Credit program is available the province of Saskatchewan.
Is the Saskatchewan Mineral Exploration Tax Credit a grant, loan, or tax credit?
Saskatchewan Mineral Exploration Tax Credit is a Tax Credits