Ontario Unleashing the Economic Potential of Critical Minerals

THUNDER BAY — The Ontario government is investing up to $10 million and launching the Ontario Junior Exploration Program (OJEP) for 2025 to support early-stage mineral exploration. To support the government’s plan to protect Ontario, this investment will help junior mining companies and licensed prospectors cover early exploration and development costs. These projects have the potential to become future mining operations that will ­boost Ontario’s economic growth and resilience, create jobs and build secure supply chains amid increasing global demand and economic uncertainty from U.S. tariffs.

“Ontario is sitting on some of the most valuable critical mineral deposits in the world – and the global economy is knocking at our door,” said Stephen Lecce, Minister of Energy and Mines and MPP for King—Vaughan. “Supporting early exploration is how we unlock that potential. Ontario has an ambitious plan to accelerate responsible resource development along with cutting permitting timelines in half and enabling more exploration of our vast country. Together, we are identifying the next major Canadian resource projects that will create good-paying jobs, strengthens our economy and delivers lasting prosperity for communities across the province.”

As jurisdictions around the world seek stable, responsible sources of the critical minerals needed for electric vehicles, clean energy and advanced manufacturing, Ontario is introducing two features in this intake that will help accelerate critical mineral projects:

1. New Prospector Stream: Licensed Ontario prospectors can now apply for up to $50,000 per project, with additional Indigenous Participation Support bringing the total potential funding to $65,000 per applicant.

2. Enhanced Indigenous Participation Funding: To support Indigenous employment and business opportunities has increased from $10,000 to $15,000 per project on top of core program funding.

   
   

Early exploration is often high-risk, with long odds of success - only about 1 in 1,000 chance of exploration projects becoming a mine. The uncertainty, combined with the need to operate in remote regions and challenging terrain, makes it difficult for companies to secure the necessary investment needed to move projects forward. By helping companies and prospectors offset these costs, Ontario is laying the groundwork for long-term growth in the mining sector.

The Ontario Junior Exploration Program (OJEP) helps cover up to 50 per cent of eligible costs for exploration and development projects. With the addition of the new funding stream and the enhanced Indigenous Participation funding, prospectors will now be eligible to receive up to $65,000 per project (including enhanced Indigenous Participation Support) and junior mining companies will be eligible to receive up to $215,000 per project (including enhanced Indigenous Participation Support). Applications for the sixth intake of OJEP will be accepted online through the Transfer Payment Ontario (TPON), beginning on July 3, 2025, at 10:00 a.m. EST and closing on July 31, 2025, at 4 p.m. EST. Funding through the program will be provided to approved projects on a first-come, first-served basis.

“We are protecting Ontario’s economic prosperity for future generations by unlocking our province’s vast critical mineral resources,” said Peter Bethlenfalvy, Minister of Finance. “This investment will help expand Ontario’s mining sector and support the growth and success of our workers and businesses as we work together to make Ontario the most competitive jurisdiction in the G7.”

Today’s investment supports Ontario’s Critical Mineral Strategy and builds on the $35 million already announced in November 2024. This includes the $23 million to support exploration of all types of minerals and $12 million to support the discovery and development of critical minerals that will help build an integrated supply chain for new technologies.

Quick Facts

• Ontario is one of the most mineral rich areas in the entire world, a world class mining destination and among the top 10 jurisdictions in the world for mineral exploration, and the top location for mineral exploration spending in Canada.

• Ontario’s mining sector is a significant economic driver, contributing approximately $14.4 billion to Ontario’s GDP annually and supporting around 74,000 direct and indirect good-paying jobs.

• The previous round of OJEP funding is helping 80 junior mining companies finance early exploration projects, with 68 of them focused on critical minerals.

• The government is also investing $500 million to create a new Critical Minerals Processing Fund to provide financial support for projects that accelerate the province’s critical mineral processing capacity and made-in-Ontario critical minerals supply chain, to ensure that minerals mined in Ontario will be processed in Ontario-by-Ontario workers.

• Ontario’s abundant supply of critical minerals includes the vast reserves found in the Ring of Fire, an area almost 5,000 square kilometres in size located approximately 500 kilometres northeast of Thunder Bay.

• The province is investing nearly $3.1 billion in loans, guarantees, grants and scholarships that would support Indigenous participation, partnership and ownership in Ontario’s critical mineral supply chain.

• This initiative supports Ontario’s Critical Mineral Strategy which seeks to secure the province’s position as a reliable global supplier of responsibly sourced critical minerals.

  
  

Quotes

"Today’s announcement strengthens our commitment to leveraging every tool at our disposal to create lasting economic opportunities for First Nations communities across Ontario. By enhancing support through the Ontario Junior Exploration Program, we are empowering Indigenous partners to play a leading role in developing the province’s world-class critical mineral resources – driving shared prosperity now and for future generations."

- The Honourable Greg Rickford

Minister of Indigenous Affairs and First Nations Economic Reconciliation, and Minister Responsible for Ring of Fire Economic and Community Partnerships

"Our province’s investment in early-stage exploration is a tremendous benefit for Northwestern Ontario, where the future of critical minerals is taking shape. By supporting our local prospectors, junior mining companies, and Indigenous partners, we are laying the foundation for good-paying jobs, economic growth, and long-term prosperity in the North. This is about more than just mining—it’s about securing a stable, made-in-Ontario supply chain and ensuring our communities play a leading role in powering the future."

- The Honourable Kevin Holland

MPP for Thunder Bay – Atikokan

"The Ontario Mining Association welcomes the government’s investment in unlocking Ontario’s mineral potential. Supporting early exploration and increasing funding for Indigenous communities are key to building the mines of tomorrow, attracting investment, and strengthening our leadership in responsible resource development."

- Priya Tandon

President, Ontario Mining Association

"We are very pleased with the announcement by Minister Stephen Lecce today of the new and expanded Ontario Junior Exploration Program (OJEP). The expansion of the program to include funding to Prospectors is an exciting move to support the very basic efforts of individuals with “boots on the ground.” This funding is a clear signal of the province’s commitment to advancing the discovery process and supporting the early-stage explorers who drive Ontario’s mining future. Funding to both the prospector and junior mining sectors will build a strong supply chain that provides new mines and strengthens the economy of Ontario. You have to find it before you can mine it—and this support helps make that possible. We look forward to working closely with the Ministry of Energy and Mines to further enhance the profile of all sectors of the mining industry."

- William MacRae

President/Interim Executive Director, Ontario Prospectors Association

"We welcome the expansion of the Ontario Junior Exploration Program and its vital investment in early-stage exploration to help unlock new opportunities, support Indigenous partnerships, and drive long-term economic growth in Northwestern Ontario and across the province."

- Charla Robinson

Thunder Bay Chamber of Commerce

"The Ontario Junior Exploration Program fuels more than discovery; it drives activity across the entire mining supply chain. This sixth intake reinforces the province’s commitment to building a strong pipeline of future projects that sustain jobs, businesses, and communities across Ontario."

- Marla Tremblay

Executive Director, MineConnect

"The Ontario Junior Exploration Program has been instrumental in advancing our project. The targets we’re preparing to drill this year are a direct result of the groundwork made possible through last year’s OJEP funding. Programs like this are critical for turning early-stage ideas into real discovery opportunities, and discovery is what drives Ontario’s mining economy forward. We’re proud to explore for the critical metals that will fuel Ontario’s future and excited to be participating in OJEP again as we take the next big step on our project."

- Stefan Sklepowicz

CEO, Kirkland Lake Discoveries

"The Ontario Junior Exploration Program continues to be a cornerstone of support for our industry, especially for early-stage companies like Inventus Mining. This latest intake, with expanded access for prospectors and Indigenous participation, strengthens the foundation for discovery and responsible development. OJEP doesn’t just help us explore, it helps us build a better, stronger Ontario mining sector."

- Wesley Whymark

President, Inventus Mining Corp.

"Volta Metals applauds the Ontario government for its continued commitment to advancing early-stage mineral exploration through the Ontario Junior Exploration Program. As a company focused on unlocking Ontario’s vast potential in critical minerals like gallium, rare earth elements, lithium, tantalum, and cesium, we know firsthand how vital this support is to attract investment and accelerating discovery. Programs like OJEP are critical to unlocking the province’s unique potential in strategic minerals, helping companies like ours de-risk exploration, build Indigenous partnerships, and attract global investment. This support strengthens Ontario’s position as a leader in the responsible development of rare earths and gallium—materials essential to clean energy and national security. We are proud to operate in a province that recognizes the strategic importance of exploration and partners with industry to build a stronger, greener future."

- Kerem Usenmez

President and CEO, Volta Metals Ltd.

"First Class Metals has been a proud past recipient of OJEP funding, and this financial support has made a real difference in our ability to undertake meaningful exploration of our properties across Ontario, helping advance the projects that will underpin the next generation of discoveries. OJEP isn’t just an investment in prospectors and companies like ours, it’s an investment in Ontario’s future as a global leader in responsible mineral exploration and development."

- Marc Sale

CEO, First Class Metals PLC

"Through OJEP, the Ontario Government is investing in early mineral exploration to create meaningful opportunities for junior companies to find the mines of the future and help keep Ontario globally competitive. New Break Resources Ltd. (New Break) wishes to offer its appreciation to the Ontario Government for its continued support for junior mineral exploration in Ontario and specifically for its support of New Break’s Moray project. Since April 1, 2022, New Break has received aggregate grants under OJEP of $636,224."

- William Love

CEO, New Break Resources Ltd.