Core Insights - New Age Metals Inc. has received formal approval under Newfoundland and Labrador's Junior Exploration Assistance Program, enabling the company to advance its exploration projects in the region [1][2] - The project has been designated as a "Critical Minerals as a Primary Exploration Target," ensuring eligibility for funding from Critical Minerals Assistance and Provincial Critical Mineral Assistance streams [2] - The company is preparing for a Phase 2 exploration program following a successful Phase 1 program, with a budget of approximately $225,000 and potential rebate support of up to 40% of eligible costs [4][5][6] Exploration Program Details - The Phase 2 field program will include geological mapping, prospecting, and various sampling methods, with a focus on the Antimony Ridge property [6][7] - The total area of the Antimony Ridge and Citadel properties is 3,775 hectares, which are located near hydroelectric power and communities, providing access to a skilled workforce [9][8] - The company has entered into an Option Agreement to acquire a 100% interest in the Antimony Ridge Property, enhancing its geological potential [8] Financial Support and Incentives - The JEA Program aims to expand the mineral inventory of Newfoundland and Labrador, providing funding through a combination of provincial and federal grants [10] - The potential rebate for eligible exploration activities is estimated at $71,975, with a maximum rebate of $150,000 per project [6][12] - The JEA Program is designed to support junior companies in critical mineral exploration, with a total funding pool of $3.9 million [10]