MINERAL EXPLORATION ACTIVITIES ON THE RISE

According to a survey done by Industry and Resources, mineral exploration activities in Saskatchewan are forecast to continue an impressive climb in 2003, building on a 25 per cent increase last year.

Exploration for most commodities in the province is expected to increase. The largest growth is due to the geological potential for diamonds. Overall, mineral exploration is expected to increase to more than $35 million in 2003 from $28 million in 2002.

"Saskatchewan offers exceptional potential in its diverse, untapped mineral deposits. We are the world's leading producer of potash and uranium, and we also have significant potential for a variety of other commodities including diamonds, base and precious metals, platinum group elements and rare earths and rare metals," Industry and Resources Minister Eric Cline said. "Continued growth in the mining sector will be an important part of Saskatchewan's future."

The mineral exploration incentive program that was launched by the provincial government last September is stimulating exploration activity and creating new jobs and is expected to contribute to future increases in exploration activity.

Saskatchewan is the third-largest mining province in Canada. The value of Saskatchewan mineral sales is approximately $2.4 billion annually and the sector accounts for approximately six per cent of the province's gross domestic product.

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306)787-8277