Saskatchewan Mineral Exploration Tax Credit

Q: How much funding can be received?

Saskatchewan Mineral Exploration Tax Credit Funds up to 45% of admissible expenses.

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: Is the Saskatchewan Mineral Exploration Tax Credit a grant, loan, or tax credit?

Saskatchewan Mineral Exploration Tax Credit is a Tax Credits

Q: Who are the financial supporters of the Saskatchewan Mineral Exploration Tax Credit?

Saskatchewan Mineral Exploration Tax Credit is funded by Government of Saskatchewan, Ministry of Energy and Resources (SK)

Q: Who is eligible for the Saskatchewan Mineral Exploration Tax Credit program?

To be eligible for the Saskatchewan Mineral Exploration Tax Credit program, you must: • Eligible mineral exploration companies must apply to the Saskatchewan Ministry of Energy and Resources to issue flow-through shares or flow-through warrants. • If the application is approved, the company will receive written permission to raise capital for exploration activities in Saskatchewan.

Q: 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.

Q: Where is the Saskatchewan Mineral Exploration Tax Credit available?

The Saskatchewan Mineral Exploration Tax Credit program is available the province of SK.

Last Update: July 22, 2025

SK, Canada

Tax credit for investors in Saskatchewan mineral exploration

At a glance

Eligible Funding

Up to 45% of project cost

Timeline

Unspecified

Financing Type

Tax Credits

Eligible Industries

Mining, quarrying, and oil and gas extraction

Funds Providers

Ministry of Energy and Resources (SK)

Government of Saskatchewan

Program status

Open

Overview

Non-refundable tax credit of 10% for Saskatchewan taxpayers who invest in shares issued by mining or exploration companies.

Financing terms and conditions

This grant provides tax credit incentives for investing in approved mineral exploration activities in Saskatchewan, offering a substantial tax reduction for participants. The tax credit is designed to enhance Saskatchewan's attractiveness for mineral investment through financial incentives.

Tax credit ranges from 45% to 60%, consisting of a 30% provincial credit and a 15% to 30% federal credit.
Investors can deduct exploration expenses renounced by exploration companies from their taxable income.
Eligible flow-through shares must be purchased from approved mineral exploration companies.

Activities funded

Examples of admissible projects:

$ 180,000

Diamond drilling program near Flin Flon to identify potential gold deposits

$ 150,000

Installation of exploration camp near Prince Albert for mineral resource assessment

$ 135,000

Soil sampling and geochemical analysis near Regina for copper exploration

$ 210,000

Seismic survey in the La Ronge area for potential diamond exploration

$ 120,000

Magnetic survey in the Athabasca Basin region for uranium exploration

Eligibility

Eligibility for this grant requires compliance with specific conditions set by the Saskatchewan Ministry of Energy and Resources.

Any mineral exploration company wishing to issue flow-through shares or flow-through warrants must apply to the Saskatchewan Ministry of Energy and Resources.
The company must receive written permission from the Ministry to raise capital for exploration activities in Saskatchewan.

Who is eligible?

Eligible applicants for the Saskatchewan Mineral Exploration Tax Credit include individual investors who are Saskatchewan residents, financial partnerships, and mineral exploration companies that are approved by the Saskatchewan Ministry of Energy and Resources. Applications for issuing flow-through shares or flow-through warrants must be submitted by mineral exploration companies in accordance with the program's requirements.

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 Mineral Exploration Tax Credit is aimed specifically at supporting mineral exploration within the province of Saskatchewan. The eligible geographical area is therefore confined to this province.

Companies engaged in mineral exploration activities within Saskatchewan.

How to apply

Initial Application Submission

Email a completed Canada Revenue Agency (CRA) Form T100A Flow-Through Share Information – Application for a Selling Instrument T100 Identification Number (SITIN) along with all other related documents required by CRA to metc@gov.sk.ca.
Include a copy of the CRA approval letter containing the Selling Instrument T100 Identification Number (SITIN) or T100 Identification Number (TIN).
Provide a list of the Saskatchewan Disposition Number(s) where the mineral exploration is occurring.

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

metc@gov.sk.ca

306-787-3377

Apply to this program

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.