September 13, 2002

The most recent offering of Manitoba’s successful Mineral Exploration Assistance Program (MEAP) has provided $1.1 million to help develop new mines and mineral deposits in Manitoba, attract more investment and create jobs, Industry, Trade and Mines Minister MaryAnn Mihychuk announced today.

"Our government renewed MEAP for a further three-year period because we know how important mineral exploration is for the economies of our northern communities," said Mihychuk. "MEAP has a proven track record of stimulating important exploration projects, including heightened levels of diamond exploration and a major gold exploration program in northeastern Manitoba."

Thirty private exploration companies will invest a total of $10.2 million in 39 new exploration projects. Most of the projects are situated in the Lynn Lake/Leaf Rapids, Bissett and Northern Superior regions. Of the thirty companies receiving funding, 25 are "junior" exploration companies.

The minister noted that, contrary to the trend in other areas of Canada over the last few years where exploration activity has decreased, exploration levels in Manitoba have increased 35 per cent since 1999.

"Our commitment to supporting mineral exploration activities in the province and encouraging investment remains strong," said Mihychuk. "The keen interest demonstrated by the private sector brings jobs to northern communities and stimulates activities that can lead to the development of new mines in Manitoba."

Under the MEAP program, $2.5 million in assistance is allocated through two offerings every year. These offerings correspond to the typical spring/summer and fall/winter mineral exploration cycles. It is estimated that for every dollar invested by the province over $4.00 is invested by industry.

MEAP provides financial assistance of up to 35 per cent of eligible project expenditures in targeted areas and 25 per cent in the rest of Manitoba. The next MEAP offering deadline is Nov. 1.

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