News Releases

News Release - Manitoba

November 16, 2007

RENEWED ASSISTANCE FOR MINERAL EXPLORATION REAPS POSITIVE RETURNS: RONDEAU



Provincial support for mineral exploration and mining continues with the renewal of the Mineral Exploration Assistance Program (MEAP) and the Manitoba Prospectors Assistance Program (MPAP) for another three years, Science, Technology, Energy and Mines Minister Jim Rondeau announced today.
 
“We’re pleased that after many challenging years, the minerals sector is experiencing an exceptional resurgence due to record-setting metal prices,” said Rondeau, speaking at the Manitoba Mining and Minerals Convention. “We’re feeling the effects here in Manitoba, where the industry is currently booming.  The challenge is to continue to attract new exploration in this highly-competitive market.”
 
The three-year term for the programs begins April 1, 2008. Assistance for non-fuel mineral exploration will be allocated twice a year to coincide with the spring/summer and fall/winter mineral exploration periods.
 
“Although properties are key, it is important for us to promote we are exploring in a pro-mining environment,” said André Tessier, president and CEO of Murgor Resources Inc. “MEAP is proof of that. It is important that we show our investors how we can stretch our exploration dollars in Manitoba.”
 
The program provides assistance of up to 35 per cent of approved eligible expenses to a maximum of $400,000 per recipient per fiscal year for exploration in remote and northern regions, as well as near communities impacted by mine closures. The general program provides assistance of up to
25 per cent of approved eligible expenses to a maximum of $300,000 per recipient per fiscal year.
 
“Mining is Manitoba’s second-largest primary resource sector.  It makes a significant contribution to the provincial economy, is the primary employer in several Manitoba communities and underpins the economy of northern Manitoba,” said Rondeau.  “Without new exploration and discoveries, the mining industry will gradually decline as existing ore bodies are exhausted.”
 
- 30 -
 
 
BACKGROUND INFORMATION ATTACHED



Backgrounder
Manitoba’s Mining Industry - http://www.gov.mb.ca/asset_library/en/newslinks/MEAPMPAP.ST.doc