In late June 2026, the Honourable Tim Hodgson, Canadian Minister of Energy and Natural Resources, announced investments of up to C$73 million ($73.9 million) for 12 Canadian projects that will help to advance mining and build the infrastructure needed to bring Canadian critical minerals to global markets.
Canada is rich in critical minerals and the investment is designed to unlock that potential for domestic and international markets.
Of the funding, up to C$51.57 million will be used to develop five projects through the First and Last Mile Fund (FLMF), advancing critical minerals production and supply chains. Up to C$19.6 million will be distributed under the Energy Innovation Program for five projects focused on advancing clean energy and industrial decarbonisation technologies.
Additionally, nearly C$2 million will be provided under the Indigenous Natural Resource Partnerships program for the Tahltan Central Government’s project to co-develop, assess, and participate in key decision-making on critical mineral resource projects.
Canada is working to unlock its full critical minerals potential, with a focus on innovation, clean energy, strategic infrastructure, and Indigenous partnerships to connect its resources to global markets.
“Canada is ready to build,” Hodgson says.
“By investing in clean innovation, critical infrastructure, and strong Indigenous partnerships, we are unlocking our full potential and moving major projects forward with greater speed and certainty.
“These investments will create good jobs, deliver lasting prosperity for Canadians, and position Canada as a supplier of choice in the critical minerals the world is counting on.”
Canada’s current approach to critical minerals is to position itself as a global leader in the space, across extraction, processing, and delivery of value from mine to market.
The government released its initial Critical Minerals Strategy in 2022, with updated revisions emphasising three key themes: the promotion of domestic production and processing; protection of Canadian sovereignty and economic resilience across critical minerals value chains; and partnering with Indigenous groups, domestic stakeholders, and other global allies to develop projects.
The Canadian Government has the FLMF, which will provide up to C$1.5 billion in support for strategic mining and infrastructure projects that are necessary for the development of Canada’s critical minerals supply chains.
The investment package reflects Canada’s broader critical minerals strategy, spanning project development, energy innovation, mining decarbonisation, and Indigenous partnerships.
Production, processing, and exploration driving Canada’s strategic minerals future
Canada’s critical minerals deposits are scattered from coast to coast, with the official government critical minerals list comprising 34 minerals that are essential for the digital and green economy and extend over advanced technologies, electric vehicles (EVs), medical devices, AI applications, and defence applications.
In Canada, key considerations for a mineral to be considered critical include a supply chain under threat and a realistic opportunity for the mineral to be produced domestically.
Canada’s Critical Minerals Strategy spans the upstream, midstream, and downstream of the industry. As of March 2025, Canada had 56 active critical mineral producing mines, 31 critical mineral processing facilities, and 171 advanced critical mineral projects, including 28 involving processing.
At present, Canada hosts around half of the world’s publicly-listed junior mining and exploration companies, with mining in British Columbia, Ontario, Québec, and Saskatchewan accounting for around three-quarters of all domestic exploration spending.
Canada’s push to accelerate critical minerals development is reshaping the landscape for explorers, with fresh capital, upgraded infrastructure, and strengthened Indigenous partnerships creating clear pathways from discovery to development.
As federal investment begins to flow into early-stage projects and regional supply-chain enablers, attention is now turning to the juniors on the ground — those advancing the next wave of critical minerals discoveries across the country.
Renegade positions for Yukon upside
Renegade Exploration (ASX:RNX) is an Australian exploration company with a portfolio of advanced gold, silver, copper, zinc, and critical minerals projects in Queensland, the US, and Yukon, Canada.
Renegade’s Yukon Base Metals Project covers around 305km² and is located around 60km from the Macmillan Pass road (also known as North Canol Road), which is to be upgraded under the Canadian Government’s FLMF. The project hosts a zinc deposit and an advanced reduced intrusion related gold system, called Myschka.
Executive Director Robert Kirtlan notes that the zinc deposit hosts ‘high-grade’ germanium and gallium, while Myschka has shown ‘high-grade’ silver and antimony, with additional gold.
“Myschka is drill-ready and lies around 80km from the 10 million ounce Snowline gold discovery,” Kirtlan says.
Renegade has work planned for the current drill season, including field work at Junction, another intrusion, and potential drilling at Myschka.
In early 2025, Renegade identified numerous ‘high-grade’ critical defence metals at the Andrew deposit, including germanium (Ge) and gallium (Ga). Key highlights from diamond drilling include:
45.9m @ 43.5 grams per tonne Ge, 12.5g/t Ga, 9.4% zinc (Zn)
4.5m @ 48g/t Ge, 15.8g/t Ga, 6.4% Zn, 22.6% lead (Pb), 56.8g/t silver (Ag)
12.2m @ 38.7g/t Ge, 18.5g/t Ga, 8.1% Zn, 9.5% Pb, 23.3g/t Ag
11.2m @ 28.4g/t Ge, 28.6g/t Ga, 9.6% Zn, 15.6% Pb, 36.4g/t Ag
Kirtlan explains that the Yukon currently holds 12 of 34 targeted Canadian critical minerals projects, one of which neighbours Renegade’s projects.
“Funding is moving, and our project may be a beneficiary of this,” Kirtlan says.
Added to this is the proposed upgrade to the North Coast power grid, which Kirtlan explains will see up to C$4 billion investment into extending the grid north into the Yukon with the goal of supplying power for critical minerals and other projects.
“Like other western jurisdictions, Canada has acknowledged the reliance of critical minerals and is now proactively becoming involved in the sector. Money is being deployed into infrastructure, such as in the nearby Mactung deposit, which has received substantial funds for both infrastructure and project development investment,” Kirtlan says.
With a number of prospective deposits across its Yukon Project, Renegade is advancing field work and building its portfolio of projects across the region, with plans to commence drilling in the near future.
Dark Star advances uranium strategy amid surging nuclear demand
Dark Star Minerals (CSE:BATT) is developing its portfolio of critical minerals and uranium assets to support the safe, sustainable production of clean energy for generations.
The company says that Canada’s energy independence hinges on advancing critical minerals exploration and development, particularly for those minerals tied to sustainable resource production, clean energy technologies, and as a way to reduce dependence on foreign supply chains.
With governments under pressure to hit net-zero targets, nuclear power remains a compelling option thanks to its low-emissions profile and ability to deliver reliable baseload energy.
With a focus on its uranium assets in Saskatchewan and Labrador, Canada, Dark Star notes the strength of the uranium market today, with demand expected to increase by 127% by 2030 and 200% by 2040.
Dark Star expects a uranium supply deficit of around 240 million pounds by 2040, which will continue to grow without new supply.
The company hosts over 9 million pounds of uranium in the ground across its assets in the Athabasca Basin in Canada.
At Bleasdell Lake in Northern Saskatchewan, a historical resource estimate of 620,700 pounds of triuranium octoxide was delineated in the 1950s through intensive drilling, with over 148 drill holes reaching depths of 22.9 to 149.4m.
The company’s Ghost Lake Project in Labrador comprises a 28,575 hectare contiguous claim block in the province’s Central Mineral Belt. The project is located on the same structural trend with known deposits and surrounded on three sides by Atha Energy (TSX:SASK).
Dark Star is focused on phased exploration at its priority uranium targets in both Labrador and Saskatchewan. Planned exploration focuses on surface-based geological verification including geological mapping and prospecting across multiple target areas. Results from the company’s exploration work will be used to refine geological interpretations, prioritise targets, and define further drill targets for follow-up exploration.
Fathom Nickel expands Gochager Lake footprint with new magmatic zones
Fathom Nickel (CSE:FNI) is also operating out of Saskatchewan, with a focus on ‘high-grade’ magmatic nickel sulphide districts across three prospective nickel (Ni)-copper (Cu)-cobalt (Co)-platinum group elements (PGE)-gold (Au) projects.
Its projects include Gochager Lake, Friesen Lake, and Albert Lake, with a current focus on the Gochager Lake Project. Gochager Lake was in operation from 1965 to 1969, producing grades of 3.28% Ni, 1.83% Cu, and 9.63g/t platinum, palladium, and Au.
In late June 2025, Fathom reported two new zones of gabbro-hosted nickel-cobalt-copper mineralisation in its phase two drill program at Gochager Lake using borehole electromagnetic surveying.
Drill results from this program are expected for release in early August 2026, following the completion of core logging and processing in July.
CEO Ian Fraser says that the company’s latest drilling has led to this new zone of mineralisation, located around 100m northeast of the historic Gochager Lake deposit.
“This represents another new zone and the furthest southwest mineralised intercept drilled on the property to date,” Fraser says.
The mineralisation in the newly identified zones is consistent with that observed in the historic deposit, with high densities of semi-massive to massive sulphide veins within broad zones of disseminated, blebby, and stringer-style sulphide mineralisation. The company notes that Gochager Lake is open for expansion in all directions.
Fathom also notes the importance of this discovery of magmatic Ni-Cu-Co-PGE deposits on North American critical minerals supply, supporting industrial resilience and electrification.
Magmatic sulphide deposits are among the world’s most valuable sources of critical minerals, including the key ones needed for electrification, positioning discoveries like Gochager Lake as increasingly important contributors to North America’s push for secure, domestic, ESG-aligned supply.
Lake Winn pivots to critical minerals with LNPG
Lake Winn Resources (TSX-V:LWR) is undergoing a strategic shift, with a renewed focus on critical and strategic minerals centred on its flagship Little Nahanni Pegmatite Group (LNPG) Project in northern Canada, near the border of the Northwest Territories and Yukon.
The company has recently announced plans for a potential name change to Northern Critical Minerals to further align with its new focus on critical minerals, with exposure to lithium, tantalum, and tin.
“Our focus is to advance an exploration and drill program on LNPG that better defines the scale and potential of this pegmatite system,” CEO Patrick Power says.
Little Nahanni is located in a mining district with significant existing infrastructure. The company holds full ownership of the project, with a 2% net smelter royalty to Strategic Metals (TSX-V:SMD). The project is a lithium tungsten cesium pegmatite, which Lake Winn notes is the same type of rock as the world’s largest lithium mine, Greenbushes, in Western Australia.
Lake Winn highlights the potential for lithium in Canada, with Thunder Bay emerging as a potential critical minerals and lithium processing hub. The facility will also feature a lithium refinery, expected for construction in 2028, driven by Frontier Lithium (TSX-V:FL). This processing facility supports the Canadian Government’s goal of developing an end-to-end supply chain for critical minerals by growing domestic production.
With a significant pegmatite system, growing national demand for lithium, and emerging downstream processing capacity in Canada, Lake Winn’s shift toward critical minerals positions LNPG as a potentially meaningful contributor to the continent’s future battery-metal supply chain.
E-Power builds Québec graphite pipeline
E-Power Resources (CSE:EPR) is focused on developing graphite resources to support the growing EV market, driven by the company’s Tetepisca property located around 300km north of Baie-Comeau in Québec.
The company is looking to develop graphite resources domestically and has a strategic business model to identify opportunities, secure the land, delineate and develop the graphite resources, ensure resource viability and mitigate project risk. It then plans to monetise the projects through options, mergers and acquisitions, joint ventures, and other sales.
The Tetepisca property comprises 230 claims over a total area of 12,620 hectares and hosts graphite reserves totalling 4.7 million tonnes (Mt) at an average grade of 27.8% graphitic carbon (Cg) and measured and indicated resources of 77Mt with an average grade of 11% Cg.
Graphite is an essential material for lithium-ion batteries in EVs, with E-Power noting that each EV requires between 50–100kg of graphite at present. China currently produces around 82% of the global supply of natural graphite. In 2024, Canada was the seventh-largest global producer of graphite at 12,000 tonnes of natural graphite production.
Most of Canada’s graphite comes from Québec, with Northern Graphite’s (TSX-V:NGC) Lac des Iles operation an active producing mine and Nouveau Monde Graphite (TSX:NOU) emerging as a significant market player within the EV supply chain.
In April 2026, E-Power Resources completed a private placement, raising C$517,751 to advance field work at the Tetepisca Project, with a goal to move through the development stage.
SAGA scales titanium and lithium exploration
SAGA Metals (TSX-V:SAGA) is acquiring and developing assets across North America, with a focus on titanium, vanadium, uranium, lithium, high-purity iron ore, and rare earth elements, all essential to clean energy, defence, energy storage, and digital infrastructure.
The company’s flagship Radar Titanium-Vanadium-Iron Project in Labrador is a wholly owned, district-scale asset. Spanning 24,175 hectares, the project has a confirmed 29km2 central oxide corridor encompassing the Trapper, Falcon, and Hawkeye Zones. The property comprises 690 mineral claims across nine mineral licences.
As reported, SAGA recently received its second diamond drill rig at the Radar project, growing its drilling capacity to around 400m per day as the company focuses on completing its maiden mineral resource estimate at the Trapper Zone.
The company’s recent consolidation of its Legacy and Amirault lithium projects in Québec into a single expanded project provides enhanced exploration opportunities for a district-scale lithium-cesium-tantalum system.
SAGA believes now is the time for North America to build an integrated supply chain across mining, processing, and manufacturing industries to reduce dependence on foreign supply and lock in long-term value. The company says it is uniquely positioned within this shift.
“Done right, critical minerals can become a defining economic and strategic advantage for North America,” SAGA says.
With wholly owned projects in both Labrador and Québec, SAGA Metals provides exposure to a range of future-facing critical minerals in stable Canadian jurisdictions, aligned with the company’s supply chain security.
Purecore targets multi-metal critical minerals portfolio
Purecore Metals (CSE:PURE) is focused on building a diversified portfolio of critical minerals assets with a focus on “the materials that power modern civilisation” across three key tailwinds: electrification and clean energy, defence, and other strategic metals of monetary value.
CEO Peter Berdusco says that the company is built around the materials the world actually needs.
“The energy transition, the rebuild of Western industrial capacity, and the race to secure critical supply chains are structural, accelerating, and creating a multi-decade tailwind for the right assets in the right jurisdictions,” Berdusco says.
As federal funding begins to flow and infrastructure upgrades take shape, Canada’s critical minerals sector is entering a period of rapid acceleration. From early-stage explorers to advanced developers, companies across the country are operating with a clear pathway from discovery to development — one strengthened by Indigenous partnerships, investment, and a national strategy built around long-term resilience.
Write to Amy Rotman at Mining.com.au
Images: Mining.com.au, Renegade Exploration, Fathom Nickel, Lake Winn, SAGA Metals, Purecore Metals
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