The Mineral Exploration Tax Credit is an additional benefit, available to individuals who invest in flow-through shares, equal to 15% of specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors.

The Budget proposes to extend eligibility for this credit for one year to flow-through share agreements entered into on or before March 31, 2012. Under the existing “look-back” rule, funds raised in one calendar year with the benefit of the credit can be spent on eligible exploration up to the end of the following calendar year.