UPDATE: During PDAC 2025, the previous government announced a two-year extension of the Mineral Exploration Tax Credit (METC) through to 2027. However, the extension was not enacted before Parliament was dissolved, and the METC expired on March 31, 2025. We have been actively urging the new government to reinstate the METC without delay. To prevent similar disruptions in the future, we continue to advocate for making the METC a permanent fixture in Canada’s fiscal landscape—ensuring long-term certainty for investors and fostering sustained growth in the mineral exploration industry.

Since its inception in 2000, the METC has been a cornerstone of Canada’s Flow-Through Shares (FTS) regime. In the past decade, the FTS regime accounted for equity raises of over C$7.5 billion - roughly 70% of the funds raised in Canada for domestic exploration.

In 2019, PDAC was encouraged when the federal government provided the industry with stability and continuity by extending the METC for a five-year term. Unfortunately, the government changed course last March, when they extended this vital financial incentive at the last minute for just one year. Now, we have significant concerns regarding future renewals.

Did you know?

  • The Mineral Exploration Tax Credit (METC) has been an important part of Canada’s fiscal landscape for over 25 years.
  • The METC doesn’t require any outlay of public dollars by the Federal Government.
  • The tax dollar that government gives up administering the METC generates more than 7X in mineral exploration and economic activity within Canada.
  • METC funds must be spent on the ground within 18 months, which generates jobs, corporate, personal, fuel and other tax revenue that effectively make the METC cost neutral for Government.
We still need your help to amplify our call to make the METC permanent. Please sign our support form below to add your voice!