Sponsored by: Canterra Minerals. With active drill programs, multiple emerging targets, and recent discoveries, Canterra is advancing a portfolio of copper and gold assets in central Newfoundland. Access our Exclusive Investor Report on Canterra Minerals.
#Newfoundland Tops the List for Fastest Exploration Permits
For retail investors tracking mining and exploration stocks, permit timelines matter. Delays in regulatory approvals can stall projects, inflate costs, and erode shareholder confidence. So when a region like Newfoundland stands out with fast and predictable permitting, it becomes an important signal.
According to the latest data from the Fraser Institute’s Annual Survey of Mining Companies, 86% of respondents said they secured exploration permits in Newfoundland and Labrador within 2 months. That’s not just the best performance in Canada but no other jurisdiction came close to this level of efficiency. In a sector where time is capital, this speed offers companies and investors a clear advantage.
Faster, predictable permitting improves project timelines and capital efficiency for exploration companies operating in fast-permitting zones like Newfoundland.
This can have direct financial implications. Faster permitting allows for quicker mobilization, reduced holding costs, and a better ability to capitalize on commodity cycles. For investors seeking predictability and momentum in mining exposure, jurisdictions that move efficiently stand out.
| Region | 2 months or less | 3 to 6 months | 7 to 10 months | 11 to 14 months | 15 to 18 months | 19 to 23 months | 24 months or more |
| Newfoundland & Labrador* | 86% | 0% | 0% | 0% | 0% | 14% | 0% |
| Utah* | 60% | 20% | 0% | 20% | 0% | 0% | 0% |
| Saskatchewan* | 56% | 33% | 0% | 0% | 0% | 0% | 11% |
| Alaska* | 43% | 43% | 0% | 14% | 0% | 0% | 0% |
| Quebec | 33% | 13% | 13% | 7% | 20% | 7% | 7% |
| Nevada | 31% | 23% | 0% | 8% | 8% | 0% | 31% |
| Nova Scotia | 30% | 10% | 0% | 10% | 20% | 0% | 30% |
| New South Wales* | 29% | 0% | 29% | 14% | 0% | 14% | 14% |
| Ontario | 27% | 20% | 0% | 7% | 13% | 20% | 13% |
| Western Australia | 27% | 20% | 20% | 20% | 7% | 0% | 7% |
| Sweden | 22% | 50% | 28% | 0% | 0% | 0% | 0% |
| Victoria* | 20% | 0% | 20% | 20% | 0% | 40% | 0% |
| Nunavut* | 17% | 0% | 33% | 33% | 0% | 17% | 0% |
| South Australia | 16% | 42% | 16% | 11% | 5% | 5% | 5% |
| Queensland* | 13% | 25% | 13% | 13% | 25% | 0% | 13% |
| Manitoba* | 11% | 33% | 11% | 0% | 11% | 22% | 11% |
| Finland* | 11% | 11% | 56% | 11% | 0% | 0% | 11% |
| Northern Territory | 9% | 36% | 9% | 9% | 18% | 0% | 18% |
| British Columbia | 7% | 57% | 7% | 21% | 7% | 0% | 0% |
| Northwest Territories* | 0% | 20% | 40% | 20% | 0% | 0% | 20% |
| Yukon* | 0% | 0% | 25% | 50% | 13% | 13% | 0% |
| *Between 5 & 9 responses | |||||||
Source: The Fraser Institute’s Annual Survey of Mining Companies 2024
#Why Permit Speed Matters for Retail Investors
- Reduces Project Risk: Faster permitting lowers the likelihood of delays and limits the amount of capital tied up in regulatory uncertainty, supporting more predictable project execution.
- Improves Capital Efficiency: Shorter approval timelines reduce holding and overhead costs, allowing more capital to be directed toward exploration activity rather than administration.
- Accelerates Value Creation: Companies can reach drilling, resource definition, and other key milestones sooner, which often leads to earlier news flow and potential market re-rating.
- Extends Runway for Junior Miners: Lower carrying costs help conserve cash, giving early-stage companies more flexibility to advance projects without frequent dilution.
- Enhances Strategic Appeal: Jurisdictions with reliable permitting timelines are more attractive to major miners and joint-venture partners, increasing the strategic value of local exploration assets.
Find out why jurisdiction is becoming a critical factor when permitting slows.
#Canada is a Global Mining Powerhouse
Canada continues to demonstrate why it is considered one of the most mining-friendly regions globally. The survey also shows that Canadian jurisdictions like Saskatchewan and Newfoundland & Labrador ranked in the global top 10 for overall investment attractiveness, which factors in both policy perception and mineral potential.
This strength lies not just in mineral richness but also in policy diversity. Retail investors benefit from this jurisdictional spread. For example, Newfoundland offers speed, Saskatchewan provides regulatory stability, and Ontario combines scale with mature infrastructure.
#Comparing Global Permit Wait Times
While Newfoundland leads the pack at 86% permitting within two months, other jurisdictions show broader ranges. For example:
- Nevada: 31% of respondents reported permit timelines of two months or less, but another 31% cited wait times over 24 months.
- Ontario: 27% saw permits granted in two months, while 13% expected timelines exceeding 24 months.
- British Columbia: Though 57% expected permits within 3 to 6 months, only 7% said permits took two months or less.
This spread matters. Retail investors should weigh not just geology but also operational momentum. Delays can affect company news flow, financing schedules, and ultimately share price movement.
#What Makes Newfoundland Stand Out
Speed is just one factor. Newfoundland & Labrador also scored well on the Policy Perception Index, placing 6th globally. That signals strong confidence in its legal framework, regulatory transparency, and community engagement practices.
When a jurisdiction combines administrative speed with policy stability, it becomes an outlier worth paying attention to. It reduces both time risk and political risk, making it especially appealing for juniors looking to raise capital or larger companies needing reliable timelines.
This efficiency adds momentum to companies like Canterra Minerals, which just reported high-grade gold results from its Wilding Gold Project in central Newfoundland.
#Canterra Launches Drilling in Newfoundland Gold Belt
Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) recently reported exceptional high-grade gold drill results from its fall 2025 diamond drilling program at the 100%-owned Wilding Gold Project in central Newfoundland. The project is strategically located adjacent to Equinox Gold’s Valentine Mine, Atlantic Canada’s largest gold operation.
In fall 2025, the company drilled 1,243 m across 18 holes, focusing on the Elm and Alder Zones and testing Aspen, a new target area. The headline intercept of 31.5 metres averaging 10.89 g/t Au confirms the presence of a robust, high-grade quartz-sulphide vein system at the Elm Zone while the mineralized footprint at Alder and Aspen reinforces the interpretation of a district-scale hydrothermal gold system.
Chris Pennimpede, President and CEO of Canterra, commented:
“These results demonstrate that Wilding has the potential to host a high-grade, district-scale gold system in one of Canada’s most attractive mining jurisdictions. As global uncertainty continues to drive interest in secure North American gold assets, we believe Canterra is well positioned to create long-term value through disciplined exploration next door to Atlantic Canada’s largest gold producer.”
Learn more about Canterra Minerals’ exploration activities →
Latest Drilling Campaign Highlights Include:
- Exceptional high-grade gold intercepts at Wilding, including 10.89 g/t Au over 31.5 metres core length, with 41.0 g/t Au over 5.4 metres, from 59.0 metres depth in hole WL-25-100 at the Elm Zone. Results were reported January 21, 2026, following previously reported record samples of up to 535 g/t Au.
- Shallow near-surface gold mineralization confirmed, highlighted by 6.16 g/t Au over 4.1 metres from 5.1 metres depth, including 20.96 g/t Au over 1 metre, in hole WL-25-95 at the Alder Zone.
- Elm Zone now interpreted as a large, coherent gold corridor, approximately 300 metres along strike by 100 metres down dip, demonstrating meaningful scale, continuity, and future resource potential.
- Drilling confirms continuity of high-grade quartz-sulphide gold veins, with broad alteration halos pointing to a larger and more robust hydrothermal system at Wilding.
- Successful first-pass drilling at the new Aspen Target, returning anomalous gold values up to 0.57 g/t Au in hole WL-25-99, expanding the known footprint of mineralized veining.
- Additional exploration success at Buchans, where Canterra reported high-grade copper results from Phase 3 discovery drilling reported November 19, 2025, following high-grade copper intercepts at the Clementine target announced September 23, 2025.
With active drill programs, multiple emerging targets, and recent discoveries, Canterra is advancing a portfolio of copper and gold assets in central Newfoundland.
Canterra’s position in this emerging district places it early in the exploration cycle, as Newfoundland experiences renewed interest driven by recent high-grade gold discoveries. With backing from known mineral investors Eric Sprott and Michael Gentile, Canterra Minerals is consolidating Newfoundland’s copper-gold potential.