APPLICATIONS NOW OPEN FOR MINERAL EXPLORATION GRANTS

Mining companies can now apply for grants to help them increase mineral

exploration and create new jobs in Saskatchewan.



Applications are now being accepted under the $1.2 million-a-year

Prospector and Corporation Exploration Incentive Programs. Through the

programs, prospectors may receive up to 50 per cent of eligible

expenditures to a maximum of $7,500 and exploration corporations may

receive up to 25 per cent of eligible expenditures to a maximum of $100,000

on approved projects. Successful candidates will be announced in early

2003.



Industry and Resources Minister Eldon Lautermilch made the announcement at

the annual Geological Survey Open House in Saskatoon.



"Our mineral industry is recognized as one of the most technologically

advanced in the world. It is a vital part of the economy representing six

per cent of Saskatchewan's Gross Domestic Product and employing 17,000

people. These new incentives ensure its continued growth in an

increasingly competitive business environment," Lautermilch said.



The Minister said Saskatchewan is a very competitive location for the

mineral exploration and mining sector.



The Prospector and Corporation Exploration Incentive Programs are part of a

six-year, $12.6 million initiative introduced by the provincial government

in September to stimulate the mineral industry.



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For more information, contact:



Bob Ellis

Industry and Resources

Regina

Phone: (306) 787-8277