Welcome to the Investing Information Community’s weekly have a look at the best-performing Canadian mining shares on the TSX, TSXV and CSE, beginning with a round-up of Canadian and US information impacting the useful resource sector.
Statistics Canada launched November’s gross home product (GDP) information on Friday (January 30). The numbers present that the financial system remained flat total with the prior month, following a 0.3 p.c decline in October.
The products-producing industries fell by 0.3 p.c in November, weighed down by a 1.3 p.c contraction in manufacturing and a 2.1 p.c decline in wholesale commerce amid ongoing commerce tensions between Canada and america.
Declines had been offset by will increase to the retail commerce sector, which grew 1.3 p.c alongside a 0.9 p.c enhance to the transportation and warehousing sector.
The discharge additionally included superior information for December that exhibits actual GDP elevated by 0.1 p.c. Though the info for the month are preliminary, they level to a 0.1 p.c contraction within the fourth quarter and a 1.3 p.c annual acquire in 2025.
This week additionally marked the primary rate-setting conferences of 2026 by the Financial institution of Canada and the US Federal Reserve.
Each central banks determined to maintain their charges unchanged. On Wednesday (January 28), the BoC reported it could keep its benchmark charge at 2.25 p.c. In its announcement, the financial institution mentioned the outlook stays little modified from its October projection however famous it’s susceptible to evolving US commerce coverage and geopolitical dangers.
South of the border, the Fed held its Federal Fund Price at 3.25 p.c to three.75 p.c. In its announcement, the Fed shared comparable sentiments, suggesting that uncertainty remained elevated.
Towards that backdrop, gold and silver skilled important volatility this week, with costs for each metals dropping on Thursday (January 29). Gold fell from above US$5,500 towards the US$5,100 mark through the first hour of buying and selling on US markets, whereas silver fell from the US$120 mark to round US$108.
Each metals rebounded on the day, posting slight losses from their opening ranges, however on Friday costs collapsed additional, with gold buying and selling under US$4,800 and silver approaching US$80 in morning buying and selling.
For extra on what’s shifting markets this week, take a look at our prime market information round-up.
Markets and commodities react
Canadian fairness markets had been in retreat to finish the week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) misplaced 3.4 p.c over the week to shut Friday at 31,923.52, whereas the S&P/TSX Enterprise Composite Index (INDEXTSI:JX) fared worse, shedding 8.15 p.c to 1,051.08. The CSE Composite Index (CSE:CSECOMP) dropped 9.54 p.c to 169.92.
The gold value noticed important declines from mid-week highs, shedding 9.76 p.c throughout Friday’s buying and selling day. Nonetheless, it fell simply 1.76 p.c from the week’s begin to shut at US$4,840.76 per ounce on Friday at 4:00 p.m. EST.
The silver value fared even worse, plummeting 28.17 p.c on Friday, and shutting the week 13.62 p.c decrease total at US$83.43 on Friday.
In base metals, the Comex copper value recorded a 1.32 p.c drop this week to US$5.98.
However, the S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 4.24 p.c to finish Friday at 598.20.
Prime Canadian mining shares this week
How did mining shares carry out in opposition to this backdrop?
Check out this week’s 5 best-performing Canadian mining shares under.
Shares information for this text was retrieved at 2:00 p.m. EST on Friday utilizing TradingView’s inventory screener. Solely firms buying and selling on the TSX, TSXV and CSE with market caps higher than C$10 million are included. Mineral firms inside the non-energy minerals, power minerals, course of business and producer manufacturing sectors had been thought-about.
1. Vanguard Mining (CSE:UUU)
Weekly acquire: 141.18 percentMarket cap: C$29.82 millionShare value: C$0.41
Vanguard Mining is an exploration firm working to advance a portfolio of uranium, copper and nickel property in Canada and Paraguay. Its flagship mission is the Yuty Prometeo uranium mission in Paraguay.
Amongst its properties is the Redonda copper and molybdenum mission close to Campbell River, British Columbia. The positioning consists of 9 mineral claims protecting 2,746 hectares and hosts porphyry-style mineralization.
On Tuesday (January 27), Vanguard introduced plans for its part 2 drill program at Redonda, comprising as much as 7 holes totaling 2,800 meters, focusing on areas within the southeast portion of the property between historic drill holes.
The corporate additionally mentioned it could conduct detailed mapping and prospecting within the northern and western parts of Redonda to establish extra precedence drill targets and would use part 1 outcomes to refine focusing on.
This system is being superior shortly to construct on drilling outcomes that “confirmed a considerably expanded copper-molybdenum mineralized system at Redonda,” the corporate mentioned.
2. San Lorenzo Gold (TSXV:SLG)
Weekly acquire: 85.6 percentMarket cap: C$185.63 millionShare value: C$2.32
San Lorenzo Gold is an exploration firm working to advance its Salvadora mission within the Chañaral province of Chile.
The property consists of 25 exploration and 9 exploitation concessions protecting an space of 8,796 hectares. It hosts a big copper and gold porphyry system with a number of important targets. In response to the mission web page, the positioning geology resembles that of the close by Codelco-owned Salvador copper mine, which has operated for the reason that early Nineteen Fifties and is anticipated to proceed till the mid-2060s following an enlargement.
On January 26, San Lorenzo supplied assay outcomes from the primary gap of a drilling program on the Cerro Blanco goal at Salvadora. The outlet was drilled to a depth of 472 meters, of which it encountered 222.4 meters of mineralization throughout 5 sections. The widest interval graded 1.09 grams per metric ton (g/t) gold over 132.2 meters from a depth of 201.5 meters.
The corporate mentioned it believes the mineralization represents the higher degree of a porphyry system and that it suggests a continuation of the system encountered throughout drilling on the website in 2025.
3. Ameriwest Important Metals (CSE:AWCM)
Weekly acquire: 75.76 percentMarket cap: C$14.69 millionShare value: C$0.58
Ameriwest Important Minerals is an exploration firm with a portfolio of property in British Columbia, Canada, in addition to the US states of Nevada, Oregon and Arizona.
The corporate introduced in August that it was altering its identify from Ameriwest Lithium to raised mirror a portfolio diversifying into copper and uncommon earth minerals.
In October 2025, Ameriwest entered right into a definitive settlement for the choice and potential buy of the Xeno RAR uncommon earth mineral claims in British Columbia. Underneath the phrases of the deal, Ameriwest pays C$55,000 in money issues, C$125,000 in exploration bills over 18 months, a 2 p.c web smelter return royalty and a pair of million shares.
Then, in November, the corporate accomplished the acquisition of 34 unpatented mineral claims in Oregon that kind the Bornite copper mission in change for US$100,000 and a 2 p.c web smelter return royalty.
Earlier exploration of the Bornite property by Plexus within the Nineties recognized a historic useful resource of 138.5 million kilos of copper, 54,000 ounces of gold and 1.7 million ounces of silver from 3.2 million metric tons of ore. Ameriwest’s present CEO was a part of the Plexus group who explored Bornite.
Along with its not too long ago acquired properties, Ameriwest additionally owns the Thompson Valley lithium mission in Arizona and the Railroad Valley lithium mission in Nevada.
The newest information from the corporate got here on January 20, when it upsized a non-brokered personal placement from C$2 million to C$3 million. The corporate mentioned proceeds can be used to speed up exploration efforts at its Bornite mission.
Within the launch, Ameriwest says its long-term purpose on the mission, if outcomes, financing and allowing are profitable, is “evaluating the event of an roughly 1,000-tonne-per-day underground copper mining operation.”
4. Tectonic Metals (TSXV:TECT)
Weekly acquire: 61.78 percentMarket cap: C$217.87 millionShare value: C$2.54
Tectonic Metals is a gold exploration firm working to advance the Flat mission in Alaska, US.
The mission covers 98,840 acres in Western Alaska and hosts a diminished intrusion-related gold system and 6 district-scale targets. In response to Tectonic, the mineralization is analogous to Kinross Gold’s (TSX:Okay,NYSE:KGC) Fort Knox mine in Japanese Alaska.
Among the many targets is the Hen Mountain intrusion, the place exploration has recognized 3 kilometers of mineral strike that continues to be open in all instructions. Every of the 87 holes drilled at Hen Mountain have intercepted gold.
The newest replace from the Flat mission got here on Thursday, when Tectonic introduced outcomes from 20 drill holes throughout 4 goal areas.
Most importantly, its first drilling on the Black Creek intrusion, situated 6 kilometers north of Hen Mountain, found a brand new gold zone. The invention gap, which began from floor, returned grades of 4.5 g/t gold over 48.77 meters. This included a core interval of seven.79 g/t over 24.38 meters, within which was a 6.1 meter interval grading 15.19 g/t.
The corporate mentioned drilling has now confirmed gold mineralization throughout 5 intrusion targets: Hen Mountain, Alpha Bowl, Golden Apex, Black Creek and Jam. It additionally mentioned that outcomes from 14 different holes are nonetheless pending.
5. Golden Lake Exploration (CSE:GLM)
Weekly acquire: 60 percentMarket cap: C$12.48 millionShare value: C$0.12
Golden Lake Exploration is a gold exploration firm that owns the Jewel Ridge gold mission in Nevada, United States.
The mission sits alongside the prolific Battle Mountain–Eureka Gold pattern, which has produced greater than 40 million ounces so far and hosts operations from McEwen Mining (TSX:MUX,NYSE:MUX) and North Peak Sources.
Greater than 700 meters of strike have been recognized on the property throughout three main targets: Eureka Tunnel, Jewel Ridge and Hamburg.
On Wednesday, Golden Lake introduced that it had entered right into a definitive settlement to be wholly acquired by McEwen Mining and develop into its subsidiary. Among the many highlights of the deal is the flexibility for Jewel Ridge to be built-in into McEwen’s neighboring Gold Bar mine complicated, offering entry to infrastructure and funding.
FAQs for Canadian mining shares
What’s the distinction between the TSX and TSXV?
The TSX, or Toronto Inventory Change, is utilized by senior firms with bigger market caps, and the TSXV, or TSX Enterprise Change, is utilized by smaller-cap firms. Firms listed on the TSXV can graduate to the senior change.
What number of mining firms are listed on the TSX and TSXV?
As of December 2025, 898 mining firms and 71 oil and fuel firms are listed on the TSXV, combining for greater than 60 p.c of the 1,531 whole firms listed on the change.
As for the TSX, it’s house to 175 mining firms and 51 oil and fuel firms. The change has 2,089 firms listed on it in whole.
Collectively, the TSX and TSXV host round 40 p.c of the world’s public mining firms.
How a lot does it value to listing on the TSXV?
There are a number of various charges that firms should pay to listing on the TSXV, and in line with the change, they will fluctuate primarily based on the transaction’s nature and complexity. The itemizing price alone will most probably value between C$10,000 to C$70,000. Accounting and auditing charges might rack up between C$25,000 and C$100,000, whereas authorized charges are anticipated to be over C$75,000 and an underwriters’ fee might hit as much as 12 p.c.
The change lists a handful of different charges and bills firms can anticipate, together with however not restricted to safety fee and switch company charges, investor relations prices and director and officer legal responsibility insurance coverage.
These are all only for the preliminary itemizing, in fact. There are ongoing bills as soon as firms are buying and selling, akin to sustaining charges and extra itemizing charges, plus the prices related to submitting common studies.
How do you commerce on the TSXV?
Traders can commerce on the TSXV the best way they might commerce shares on any change. This implies they will use a inventory dealer or a person funding account to purchase and promote shares of TSXV-listed firms through the change’s buying and selling hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Remember to comply with us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Lauren Kelly, maintain no direct funding curiosity in any firm talked about on this article.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
