Companies looking to explore minerals in Saskatchewan can now submit applications for financial assistance.

Applications for the expanded Targeted Mineral Exploration Incentive can be found online at saskatchewan.ca.

In a news release, the province says the incentive was expanded in the 2023-24 Budget to encourage more exploration and drilling, particularly for critical minerals.

Total funding available has been raised to $4-million, and eligible companies can receive a rebate of up to 25 percent of drilling costs – up to $150-thousand per company, and up to $50-thousand for uranium drilling.

The incentive is applicable to all hard rock exploration projects at any location throughout the province.