Top 5 Canadian Mining Stocks This Week: Arctic Fox Lithium Jumps 66 Percent

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.7 percent over the week to close Friday (February 27) at 33,904.11, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.18 percent to 1,011.00.

The CSE Composite Index (CSE:CSECOMP) gained 2.5 percent to 181.61.

The gold price lost 1.76 percent to close at US$4,706.84 per ounce on Friday at 4:00 p.m. EDT. The silver price fared worse, closing the week down 3.28 percent at US$75.79 on Friday.

In base metals, the Comex copper price recorded a 0.18 percent drop this week to US$6.03.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 2.53 percent to end Friday at 728.67.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Arctic Fox Lithium (CSE:AFX)

Weekly gain: 66.15 percent
Market cap: C$14.01 million
Share price: C$0.54

Arctic Fox is a Canada-focused critical minerals exploration company advancing projects in Québec and British Columbia, Canada.

The company's three lithium projects, all located in Québec's Eeyou Istchee James Bay region, consist of Kana Lake, which covers 113 claims spanning 5,976 hectares; Pontax North, comprising 52 mineral claims over 2,756 hectares; and Delta Lake, comprising 20 claims over 1,056 hectares.

In British Columbia, the company owns the Pius copper property, consisting of six mineral claims covering 2,101 hectares in the Quesnel Terrane.

On February 21, Arctic Fox announced that it acquired the Shipsaw project in Saguenay, Québec. The property is prospective for rare earth elements and niobium, and is located 5 kilometers from IAMGOLD's (TSX:IMG,NYSE:IAG) Niobec niobium mine.

The most recent news from the company came on April 10, when it announced that it had closed the final tranche of a non-brokered private placement, generating gross proceeds of C$3 million.

Arctic Fox said it intends to use the funds for general working capital and exploration expenditures across its mineral properties.

2. Rupert Resources (TSXV:RUP)

Weekly gain: 59.69 percent
Market cap: C$2.63 billion
Share price: C$11.45

Rupert Resources is an exploration and development company advancing the Rupert Lapland gold project in Northern Finland, which hosts the Ikkari discovery.

The property is located in the Central Lapland Greenstone Belt and sits between Boliden’s (STO:BOL,OTC Pink:BLIDF) Kevitsa nickel-copper mine and Agnico Eagle Mines' (TSX:AEM,NYSE:AEM) Kittilä mine, the largest primary gold mine in Europe.

A February 2025 prefeasibility study estimated that Ikkari's after-tax net present value was US$1.68 billion, with an internal rate of return of 38 percent and a payback period of 2.2 years.

The included mineral resource estimate for the Ikkari deposit demonstrated an indicated gold resource of 4.09 million ounces from 58.43 million metric tons of ore grading 2.18 grams per metric ton (g/t) gold, with an additional inferred gold resource of 136,000 ounces from 3.58 million metric tons grading 1.18 g/t.

On Monday, Rupert entered into a definitive agreement to be wholly acquired by Agnico Eagle Mines for a total transaction value of C$2.9 billion based on share consideration of C$12.00. The price represents a 67 percent premium over Rupert's closing price on April 17.

The purchase will allow Agnico Eagle to consolidate the Ikkari project with its properties in the Central Lapland Greenstone Belt.

3. Silver Bull Resources (TSX:SVB)

Weekly gain: 59.69 percent
Market cap: C$26.99 million
Share price: C$0.55

Silver Bull Resources is an exploration company that owns the Sierra Mojada silver-zinc project in Coahuila, Mexico.

Work at the property halted in September 2019 after members of the local miners' cooperative Mineros Norteños initiated a blockade of the project following a lengthy dispute over royalty payments for two concessions that have yet to enter production.

Despite courts ruling in favor of Silver Bull since the original lawsuit was filed in 2014, and the company definitively winning the lawsuit in 2021, the blockade has remained in place.

Then in March 2023, Silver Bull opened a legacy NAFTA claim against the Mexican government to recover US$178 million in economic damages resulting from the company’s inability to access the property while it was blockaded.

The most recent update regarding the arbitration proceedings came on April 16, when the company announced that it had filed an updated submission on costs on April 13.

Silver Bull said the arbitration tribunal had advised the company that it would give its final verdict by the end of May.

4. Athena Gold (CSE:ATHA)

Weekly gain: 46.51 percent
Market cap: C$22.92 million
Share price: C$0.63

Athena Gold is an exploration company with a trio of properties: Laird Lake and Forrester in Ontario, Canada, and Excelsior Springs in Nevada, US.

Its most advanced project is Excelsior Springs. The gold property covers an area of 1,574 hectares within the Walker Lane tectonic zone in Nevada, and hosts the historic Buster mine, which produced 19,200 ounces during its lifetime.

Excelsior Springs is currently being explored by Mammoth Minerals, which has the option to earn up to an 80 percent interest in the project. Mammoth identified six high-priority targets at the project earlier this month.

Athena Gold has been active at its 4,158 hectare Laird Lake gold project near Red Lake, Ontario, and is currently carrying out a maiden drill program at the property.

On Tuesday, the company reported it encountered visual gold and broad zones of prospective sulfide mineralization in the first drill hole of the program, which reached a target depth of 336 meters.

“Encouraging visual results this early in our maiden drill program at Laird are incredibly exciting,” Athena CEO Koby Kushner said. “To accelerate the next phase of exploration, the initial rig is being replaced with a larger drill at Laird Lake, allowing for a more aggressive test of deeper geophysical anomalies.”

5. Grizzly Discoveries (TSXV:GZD)

Weekly gain: 55.56 percent
Market cap: C$13.66 million
Share price: C$0.07

Grizzly Discoveries is an exploration company advancing its large Greenwood project in South-central British Columbia.

The company has been acquiring land claims since 2008 to amass a property covering approximately 72,200 hectares in the Republic-Greenwood gold district, just north of the Canada-US border.

The project area hosts five primary targets — Midway, Imperial, Sappho, Motherlode and Ket 28 — with a variety of precious and critical minerals.

On Monday, Grizzly announced three gold, copper and silver discoveries at the Keno, Old No.7 Mine and Myers Creek areas based on results from 2025 exploration activities at the property.

Grab samples from the program assayed up to 11.2 g/t gold, 252 g/t silver and 699 parts per million (ppm) copper from Old No.7; 4.48 g/t gold, 425 g/t silver and 1,105 ppm copper from Keno; and 2.78 g/t gold and anomalous copper from Myers Creek.

Additionally, the company reported chip samples from Midway that yielded grades of up to 17.95 g/t gold, 2,780 g/t silver and 917 ppm copper.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity.

As of April 2026, the listing fee alone will most likely cost between C$10,000 to C$70,000, and accounting and auditing fees could rack up between C$25,000 and C$100,000. Legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.