Canadian Mining Boom This Week: Five Stocks Surge as Mineral Exports Shape Market Sentiment

Canada’s mineral sector found itself in the spotlight this week as traders watched how global commodity movements and domestic policy decisions would ripple through the country’s top 5 exports, with precious metals and mining equities delivering standout performances. The central bank’s decision to maintain benchmark rates at 2.25 percent, coupled with job creation and GDP growth data, created a supportive backdrop for resource-focused investors seeking exposure to Canada’s mining landscape.

Macro Backdrop Supports Resource Rally

The week’s performance reflected broader market optimism around Canada’s economic resilience. Despite flat domestic demand, third-quarter GDP expanded 2.6 percent, while November’s labor market added 54,000 positions with unemployment declining to 6.5 percent. These metrics reinforced expectations that rates would hold steady through early 2026, providing relief to cyclical sectors like mining.

South of the border, the Federal Reserve’s 25 basis-point reduction fueled a rally in precious metals. Gold climbed 2.44 percent to US$4,299.86 per ounce, while silver surged dramatically—gaining 6.12 percent and touching an all-time high of US$64.65 per ounce before settling at US$61.95. Base metals showed more volatility, with copper declining 1.46 percent to US$5.37 per pound.

The CSE Composite Index led market gains with a 15.63 percent weekly jump to 180.36, while the TSX and TSXV remained relatively flat, gaining just 0.1 percent and 0.17 percent respectively. Against this backdrop, select mining names delivered exceptional returns.

Top Five Weekly Movers

1. Sirios Resources (TSXV:SOI) – Up 120%

Sirios Resources soared this week following a transformative corporate announcement. The gold exploration company, which operates in the Eeyou Istchee James Bay region of Québec—a key component of Canada’s mineral export base—entered into an arrangement to acquire OVI Mining. This merger will establish a district-scale gold-focused entity centered around the flagship Cheechoo deposit.

The company’s recent exploration campaign at its Aquilon property yielded impressive results, with one drill hole returning 2.55 g/t gold over 4.8 meters, including a standout interval of 10.3 g/t across 1 meter. The Cheechoo project hosts indicated resources of 1.26 million ounces at 1.12 g/t from 35 million metric tons, plus an inferred 1.67 million ounces at 1.23 g/t. The strategic combination brings together experienced industry operators, positioning the merged entity for potential production advancement.

Market cap: C$48.26 million | Share price: C$0.165

2. PJX Resources (TSXV:PJX) – Up 82.35%

PJX Resources delivered an 82.35 percent weekly gain on the heels of a significant exploration breakthrough in British Columbia. The company announced the discovery of a substantial sedimentary exhalative mineralized system at its Dewdney Trail property, an area steeped in mining heritage near the historic Sullivan mine.

Recent drilling intersected 63 meters of anomalous mineralization in the Quake zone containing zinc, lead, silver and critical metals—characteristics mirroring Sullivan’s productive bands. Nearby surface sampling revealed boulder assays carrying 546 g/t silver, 32.3 percent lead and 4.89 percent zinc. With over 50,000 hectares accumulated in a region producing more than 1.5 million ounces of historic placer gold, PJX has positioned itself to potentially unlock untapped deposits contributing to Canada’s precious metal exports.

Market cap: C$26.17 million | Share price: C$0.155

3. Eco Atlantic Oil & Gas (TSXV:EOG) – Up 78.38%

Eco Atlantic surged 78.38 percent following a farm-in deal with Navitas Petroleum. Though primarily focused on offshore oil and gas, the company’s Atlantic Ocean asset portfolio highlights Canada’s diverse resource export mix. Under the agreement, Navitas will invest up to US$4.5 million for options on the Orinduik block off Guyana, plus US$4 million for stakes in South African acreage.

Market cap: C$99.3 million | Share price: C$0.33

4. Triumph Gold (TSXV:TIG) – Up 64.56%

Triumph Gold advanced 64.56 percent, building on momentum from recent financing and exploration activity. The developer holds three Yukon properties within the Dawson Range, including its flagship Freegold Mountain project hosting polymetallic deposits of gold, silver, copper, molybdenum, lead and zinc. Recent non-brokered private placements totaling C$1.94 million underscore investor confidence in the company’s Yukon and Utah exploration strategy.

Market cap: C$30.63 million | Share price: C$0.65

5. Karnalyte Resources (TSX:KRN) – Up 65.63%

Karnalyte surged 65.63 percent following release of an updated feasibility study for its Wynyard potash project in Saskatchewan. The study outlined compelling economics: an after-tax NPV of C$2.04 billion, an IRR of 12.5 percent, an 8.8-year payback and a 70-year mine life. Notably, GFSC of India committed to purchasing 350,000 metric tons annually in Phase 1, expanding to 250,000 tons post-Phase 2—underscoring potash’s role in Canada’s top 5 exports and global agricultural supply chains.

Market cap: C$11.72 million | Share price: C$0.265

Market Context

The week’s equity performance reflected sector-wide optimism as investors recognized mining and resources’ enduring importance to Canada’s export economy. With commodity prices stabilizing and exploration news flowing, attention now turns to how Q4 GDP developments and 2026 rate expectations will shape the next phase of the cycle.