Work Credit Program Extended : Work completed between April 1, 2017 and March 31, 2019 that is reported to the Mining Recorder no later than September 30, 2019 will be credited 50%.
The Government of the Northwest Territories administers the Work Credit Program to award extra work credits for eligible exploration expenses incurred in the calendar years 2015 to 2019 to help individuals and companies through these economically challenging times.
Each participant will be granted work credit of up to 150% that is spent on eligible exploration activities. For example, if a participant spends $100,000 towards eligible work expenses, once approved by the Mining Recorder, the work will be valued at $150,000 in work credits.
- Work done on mineral leases and prospecting permit areas are not eligible for the Work Credit Program.
- Eligible work is to take place between April 1, 2017 and March 31, 2019.
- For the purpose of this Work Credit Program, “eligible work” is defined in the subsection 1(1)(a) of the Mining Regulations.
- The work must be submitted in the form of a technical report of work as required by the Mining Regulations, and it must discuss only work conducted during the period April 1, 2017 to March 31, 2019.
- The actual work performed on each mineral claim must be reported as required by the Mining Regulations. Anyone submitting a work report should contact the Mining Recorder’s Office for information regarding the allocation of work credits.
- The Mining Recorder will conduct the work credit calculations after the regulatory review has been completed and approved.
- To take advantage of the extra work credits, all work done between April 1, 2017 and March 31, 2019 must be reported to the Mining Recorder no later than September 30, 2019.
See the document below for a copy of the program requirements. Please contact us with any questions you may have.
|Rules for Extra Work Credits||180.07 KB|