Lannister Investor HubBy the numbers
Last updated: November 2026
Canadian mineral exploration spending is planned to reach $5.3 billion in 2026, a new high if realized, according to Natural Resources Canada.
These published figures show how much mineral exploration companies spend and how that spending moves with markets. They are market statistics from Natural Resources Canada, not Lannister Mining figures, collected here to give investors context for gold exploration companies such as Lannister Mining.
Question
Preliminary data show that expenditures increased 4% in 2025 to $4.4 billion, following stable spending of $4.2 billion in 2024, according to the Canadian Mineral Exploration Information Bulletin. Spending intentions for 2026 indicate planned exploration and deposit appraisal spending rising 21% to $5.3 billion.
Data
| Year | Spending | What the source says |
|---|---|---|
| 2021 | $3.8 billion | Expenditures rose 73% in 2021 |
| 2022 | $4.4 billion | The highest level on record at the time |
| 2023 | $4.2 billion | Moderated as tighter financial conditions, moderating metal prices and macroeconomic uncertainty weighed on investment |
| 2024 | $4.2 billion | Stable spending |
| 2025 (preliminary) | $4.4 billion | Increased 4% |
| 2026 (intentions) | $5.3 billion | Rising 21%; would be a new high if realized |
Context
Exploration budgets rise and fall with financing conditions and metal prices, as the 2023 dip shows. For an early-stage explorer like Lannister Mining, which plans expansion and confirmation drilling at Basin Gulch before a Maiden Mineral Resource Estimate, access to capital shapes the pace of work. Read more in our gold exploration investor information or go back to the Lannister Mining investor presentation hub.
FAQ
In Canada, Natural Resources Canada reports preliminary exploration and deposit appraisal spending rose 4% in 2025 to $4.4 billion, after stable spending of $4.2 billion in 2024. Planned spending for 2026 is rising 21% to $5.3 billion, which would be a new high if realized.
More in the FAQA gold exploration company looks for gold deposits and works to prove their size and grade. Typical work includes mapping, sampling, trenching and drilling, then compiling results into a mineral resource estimate under a reporting standard. Most explorers fund this work by raising capital rather than from mining revenue.
More in the FAQInvesting in gold exploration companies is generally high risk. Early-stage explorers may not define an economic deposit, often need repeated financings and can be affected by metal prices and markets. Read the full risk disclosure in any presentation and speak with a licensed adviser. Nothing on this site is investment advice.
More in the FAQLannister Mining states that US-based companies with NI 43-101 compliant resources are trading at a significant premium compared to their peers, and that there is a clear market premium for S-K 1300 and NI 43-101 compliant gold and silver ounces in the USA. This is the company view, not an independent study.
More in the FAQThere is no single official list of top gold exploration companies, because the right pick depends on stage, jurisdiction and risk. Our comparison guide, published by Lannister Mining, ranks four gold companies by project stage using facts from their own websites. Lannister Mining is the earliest stage of the four.
More in the FAQInvestors and exploration partners can reach Ken Cotiamco at 604-687-7130 or IR@lannistermining.com, or send a message through the company contact page.
Published by Lannister Mining