News: Suppliers
12 June 2026
Volta Metals awarded up to $500,000 from Ontario’s Critical Minerals Innovation Fund
Volta Metals Ltd of Toronto, Canada (which owns, has optioned and is currently exploring a critical minerals portfolio of rare-earths, gallium, lithium, cesium and tantalum projects in Ontario) says that the Ontario government has awarded funding of up to $500,000 under the Critical Minerals Innovation Fund (CMIF) for work on the its Springer Rare Earth Element (REE) and Gallium Project, which spans 4750-hectares on the traditional territory of the Nipissing First Nations in Sturgeon Falls about 70km east of Sudbury, Ontario, with direct access via the Trans-Canada Highway and Highway 64. The award will be applied towards metallurgical and mineral processing work aimed at enhancing recoveries of rare-earth elements and gallium from mineralization at the Springer Deposit.
The $500,000 award represents the maximum CMIF grant per project, covering up to 50% of eligible project costs. The CMIF supports research, development and commercialization of innovative technologies, techniques and processes in Ontario’s critical minerals sector, with priority areas including mineral processing, recovery, and battery supply chain innovation. The new funding will enable Volta to advance metallurgical test work and flowsheet development designed to optimize recoveries of critical minerals essential to Ontario’s growing battery and clean technology supply chains.
“Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy,” says Stephen Lecce, Minister of Energy and Mines. “This investment will help advance innovative processing work at the Springer REE and Gallium Project and support the development of a domestic rare-earth and gallium supply chain. By backing companies like Volta Metals, we are securing Ontario’s place as a key supplier of the critical minerals essential for a modern, competitive, and self-reliant economy,” he adds.
Picture: Stephen Lecce, Minister of Energy and Mines, with Volta’s CEO Kerem Usenmez at the Critical Minerals for Defence Conference in Toronto.
“The CMIF award will allow us to accelerate metallurgical and processing studies that are critical to advancing the project toward development,” says Volta Metals’ president & CEO Kerem Usenmez. “Springer is one of the largest rare-earth deposits in North America, and innovative process work funded through programs like the CMIF, alongside the Province's new $500m Critical Minerals Processing Fund, is exactly the kind of support that will help build a Made-in-Ontario critical minerals supply chain.”
First anniversary option payment made under Springer option agreement
On 9 June, Volta Metals made the first anniversary option payment due under its option agreement dated 9 June 2025 in respect of the Springer Rare Earth and Gallium Project, under which it is earning an initial 80% interest, with a path to 100%. The firm paid $266,000 in cash, representing its 80% share of the $332,500 payment due to the underlying property owners, and has issued 2,500,000 common shares to the vendor. The shares are subject to a hold period of four months and one day under applicable Canadian securities laws.
Following this payment, the remaining obligations to complete the 80% earn-in consist of a further 2,500,000 common shares and $502,000 in cash, due on or before the second anniversary of the option agreement on 9 June 2027.
Volta Metals receives $215,000 grant from Ontario Junior Exploration Program
Volta initiates bioleaching gallium recovery study with Laurentian University
