MINISTER PROMOTES MINING PROSPECTS

Industry and Resources Minister Eric Cline will promote mineral exploration and investment in Saskatchewan at an international mining convention in Toronto, March 9th and 10th, 2004.

The Prospectors and Developers Association of Canada (PDAC) international convention is recognized as one of the most important events for people and companies from around the world involved in searching for and developing new mineral deposits.

"PDAC provides the best opportunity to meet with and promote our most recent initiatives to the widest range of mineral industry players," Cline said. "Saskatchewan's competitive mineral climate is directly linked to the open and constructive dialogue we share with the mineral industry." A 2003 edition of the Canadian Miner magazine cited Saskatchewan as a long and ardent supporter of the mining sector and industry in general.

Minister Cline will be promoting initiatives such as Saskatchewan's Mineral Exploration Incentive Program, now in its second year. The objective of the six-year, $12.6 million program is to stimulate the mineral exploration industry and lead to the development of new mines. Mineral exploration has grown to estimated expenditures of more than $35 million this fiscal year, an increase from $28 million in 2002-03.

The value of mineral production in Saskatchewan is approximately $2.4 billion annually and accounts for over eight per cent of the province's GDP. The sector is vital to Saskatchewan's economy, contributing $218 million in Crown revenues used to support important social programs.

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For More Information, Contact:

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