Junior Exploration Assistance Program
Highlights
This program is designed for businesses like yours, engaged in mineral exploration and mining. It offers significant financial support to help you discover new mineral districts and advance your projects. With a combination of provincial and federal funding, you can receive rebates covering 40-75% of approved exploration costs, up to $150,000 per project in Newfoundland and $225,000 for projects in Labrador.
What's in it for you?
- Substantial rebates on exploration costs
- Focused support for critical mineral exploration
- Enhanced competitiveness as a world-class exploration destination
This funding is more advantageous than other financing options because it provides direct rebates rather than loans, reducing your financial risk. Qualifying is straightforward, and the program is tailored to support your specific needs in mineral exploration. By participating, you can significantly reduce your exploration costs and increase your chances of discovering valuable mineral resources.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required. This is a non-repayable grant.
Eligible Expenses:
- Exploration activities, including drilling, sampling, and surveying.
- Geological, geochemical, and geophysical studies.
- Environmental baseline studies.
- Costs associated with obtaining permits and licenses.
Ineligible Expenses:
- Administrative and overhead costs.
- Marketing and promotional expenses.
- Costs incurred outside the scope of exploration activities.
Fees:
- No application or processing fees associated with this grant.
Qualifications
- Must be primarily engaged in mineral exploration and/or mining.
- Can be in receipt of direct or indirect revenues from mineral/mining operations.
- Must be conducting exploration activities within Newfoundland and Labrador.
- Eligible for funding in the form of rebates for approved exploration costs.
- Must follow the requirements of the JEA 2024 Guidelines.
Must submit a satisfactory final report and supporting documentation as outlined in the program guidelines.
Disqualifications:
- Businesses not engaged in mineral exploration and/or mining.
- Businesses conducting exploration activities outside Newfoundland and Labrador.
- Businesses not adhering to the JEA 2024 Guidelines.
- Failure to submit a satisfactory final report and supporting documentation.
Description
This program is designed to help your business discover new mineral resources and enhance existing ones. You can receive rebates covering 40-75% of approved exploration costs, up to $150,000 per project on the island of Newfoundland and $225,000 for projects in Labrador.
Funding can be used for:
- Exploration activities
- Advancing mineral discoveries
- Defining mineral resources
The program includes an additional $1.3 million for critical mineral exploration, offering larger rebates for eligible activities. This funding is a combination of provincial grants and other contributions, ensuring substantial support for your projects.
Rebates are dependent on budget approval and will be prorated if the program is oversubscribed. This financial support can significantly reduce your exploration costs, making it easier for your business to grow and compete in the mineral exploration industry.
Program Steps
Review Program Guidelines: Familiarize yourself with the Junior Exploration Assistance (JEA) 2024 Guidelines. This will help you understand the requirements and ensure your project aligns with the program's objectives.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- Business plan
- Financial statements
- Exploration project proposal
- Proof of eligible exploration activities
- Any other supporting documents as outlined in the JEA 2024 Guidelines
Complete the Letter of Intent: Fill out the JEA 2024 Letter of Intent Form. Use the Letter of Intent Guide to ensure all required information is included.
Submit the Letter of Intent: Send the completed Letter of Intent Form to the appropriate contact as specified in the guidelines. Ensure it is submitted by the deadline.
Await Approval: Wait for confirmation that your Letter of Intent has been reviewed and accepted. You may be contacted for additional information or clarification.
Submit Final Report: If your project is approved, complete and submit the Final Report Form at the end of your project. This report should detail the exploration activities conducted and include supporting documentation as required.
Receive Rebate: Upon submission and approval of the Final Report, you will receive the rebate for your eligible exploration costs. Ensure all documentation is accurate to avoid delays in payment.