PwC Federal Budget instant reaction: Mineral Exploration Tax Credit extended
for another year

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

Promoting the exploration and development of Canada's rich mineral resources offers important benefits in terms of employment, investment and infrastructure, especially for rural communities. The continuation of the temporary 15% Mineral Exploration Tax Credit (METC) is intended to help companies raise capital for mining exploration by providing an incentive to individuals who invest in flow-through shares issued to finance exploration.

Budget 2010 proposes to extend the METC for an additional year, to March 31, 2011.

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, kiran.chauhan@ca.pwc.com, 416-947-8983 or visit www.pwc.com/ca/budget.

About PricewaterhouseCoopers LLP

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,300 partners and staff in offices across the country.

"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate legal entity.

SOURCE PwC

For further information: For further information: Kiran Chauhan, (416) 947-8983, kiran.chauhan@ca.pwc.com

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FEDERAL BUDGET 2010

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