Release
Department of Natural Resources
July 07, 2026
FREDERICTON (GNB) – The provincial government has selected Avenir Minerals to negotiate an exclusive exploration agreement for the former Lake George antimony mine site. This agreement follows the launch of New Brunswick’s Comprehensive Minerals Strategy, which aims to revitalize the province's mineral sector and bolster domestic production of critical minerals.
The company was chosen after a call for expressions of interest was issued this spring.
“This is a significant milestone in our mission to provide Canada with a secure and environmentally responsible domestic supply of critical minerals needed for the technologies of today and tomorrow,” said Natural Resources Minister John Herron. “The Lake George site, with its known presence of antimony, as well as the potential for tungsten, molybdenum and gold, represents an invaluable opportunity to unlock the province’s mineral potential and meet the growing international demand for these materials.”
The provincial government’s focus on the economic potential of New Brunswick’s minerals and the momentum created by the release of the comprehensive minerals strategy have caught the interest of the mining sector across Canada, said Herron. This has resulted in a record number of claims staked in the last year and in a renewed interest in the Lake George site, among others.
Located about 30 kilometres southwest of Fredericton, the Lake George site was once North America’s largest primary antimony mine and contains an estimated 800,000 tonnes of antimony-bearing ore, based on a historical technical report.
Antimony is classified as a critical mineral by Canada, the United States and the European Union, and plays a critical role in the production of flame retardants, batteries and other advanced technologies. With global supply heavily concentrated in China, there is growing demand for secure and reliable sources. The project represents an opportunity to support domestic supply chains while advancing economic development in the province.
“We are pleased to have been selected to enter into discussions regarding an exploration agreement for the Lake George site,” said Alden Greenhouse, CEO of Avenir Minerals. “Lake George is a historically significant antimony district and we look forward to building a strong understanding of the project's potential. As discussions advance, our focus will be on working collaboratively with the Province of New Brunswick, local communities, Indigenous Peoples and other stakeholders to determine appropriate next steps.”
“New Brunswick has what the world wants and is seizing the moment to advance responsible critical mineral development that will grow our economy, create good jobs and secure supply chains for Canada and our allies,” said federal Energy and Natural Resources Minister Tim Hodgson. “The selection of a partner to explore the Lake George site is an important step toward producing secure, Canadian antimony – a mineral that is essential to clean technologies, advanced manufacturing and national security. The federal government looks forward to working with New Brunswick and Avenir Minerals Ltd. to catalyze prosperity in New Brunswick and position Canada as a reliable global supplier of minerals at home and abroad.”
The project aligns with New Brunswick’s Comprehensive Minerals Strategy and its goal of fostering sustainable and responsible production of critical minerals for emerging industries.
Avenir Minerals was established as a subsidiary of Agnico Eagle Mines Ltd. to evaluate and advance critical minerals projects, with an initial geographic focus on Canada.
07-07-26
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Media Contact(s)
Valerie Kilfoil, communications, Department of Natural Resources, [email protected].
Avenir Minerals, communications, [email protected].