Top 5 Canadian Mining Stocks This Week: First Atlas Gains 105 Percent

Markets and commodities react

Canadian equity markets retreated over the past week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 2.48 percent over the week to close Friday at 32,541.93, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 3.49 percent to 1,018.11.

The CSE Composite Index (CSE:CSECOMP) dropped 0.4 percent to 175.58.

In precious metals, the gold price shed 1.49 percent over the past week to close at US$5,019.52 per ounce on Friday at 4:00 p.m. EDT. The silver price fared worse, closing the week down 2.72 percent at US$79.97 on Friday.

In base metals, copper price recorded a 1.96 percent decline this week to US$5.70 per pound for the COMEX continuous contract.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 7.99 percent to end Friday at 722.85.

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. First Atlas Resources (CSE:HHE)

Weekly gain: 105 percent
Market cap: C$28.16 million
Share price: C$0.205

First Atlas Resources is a hydrogen exploration company advancing projects in Nova Scotia and Québec, Canada. Previously Q Precious and Battery Metals, the company officially changed its name and symbol on February 27.

The Mantane project in Québec consists of two blocks of 76 claims on public forest lands that extend over 26 kilometers and is being explored in collaboration with Quebec Innovative Materials.

In September 2025, the company signed a deal to acquire the Dansof hydrogen project in Nova Scotia, comprising 1,356 claims, bringing its total package in the province to 1,915 claims.

First Atlas announced in December 2025 that it would expand its drill program in Nova Scotia to 2,500 meters but did not provide a timeline for when activities would begin.

First Atlas has not released news in the past week. However, Quebec Innovative Materials has made several announcements since the end of February over the discovery of multiple hydrogen zones in its first diamond drill hole at its West-Advocate hydrogen project in Nova Scotia.

On February 25, First Atlas issued a release congratulating Quebec Innovative Materials on its discovery. The West-Advocate system lies directly west of First Atlas’ exploration property, and First Atlas said it plans to test analogous structural targets to the discoveries in its upcoming five-hole drill program.

The most recent update from Quebec Innovative Materials came on March 10, when the company reported hydrogen concentrations at depth high enough to push instrumentation beyond the maximum detectable range.

2. Class 1 Nickel and Technologies (CSE:NICO)

Weekly gain: 87.5 percent
Market cap: C$26.67 million
Share price: C$0.15

Class 1 Nickel and Technologies is an exploration and development company working to advance its Alexo-Dundonald project near Timmins, Ontario, Canada.

The nickel sulphide project is composed of 106 mining claims, 29 patents and 14 leases covering 3,730 hectares. The site is host to four nickel sulfide deposits: the Dundonald North and South deposits, and the past-producing Alexo and Alexo south mines.

In March 2025, the company released an updated mineral resource estimate for the Dundonald North deposit at Alexo-Dundonald. The deposit hosts an inferred resource of 42 million pounds of nickel, 2.6 million pounds of copper and 1.2 million pounds of cobalt from 2.5 million metric tons of ore with average grades of 0.75 percent nickel, 0.05 percent copper and 0.02 percent cobalt.

The company also owns the River Valley project in Ontario and covers an area of 2,916 hectares and hosts mineralization of platinum group metals, copper and nickel. A prospecting program completed in 2025 returned grab samples with highlighted grades of 0.96 percent copper, 0.17 percent nickel, 0.47 grams per metric ton (g/t) palladium, platinum, and gold, and 3.28 g/t silver.

Shares of Class 1 Nickel rose this week, but the company did not issue a news release.

3. Avanti Helium (TSXV:AVN)

Weekly gain: 84.31 percent
Market cap: C$40.87 million
Share price: C$0.47

Avanti Helium is an exploration and development company focused on advancing helium assets in Canada and the US toward production. Its Greater Knappen projects are composed of several project areas in Southern Alberta, Canada, and Northern Montana, US. The combined land packages cover approximately 74,000 acres with multiple targets.

According to the project page, Avanti has drilled three exploration wells in Montana, with two testing for a combined 18.5 million cubic feet per day gas rate with 1.1 percent helium concentration.

The company’s Leader project consists of a combined land package of 91,000 acres in Southern Saskatchewan. The surrounding region has seen 84 wells drilled by other companies since 2016, and as of September 2023, it hosted approximately 25 wells producing 450,000 cubic feet of helium per day.

The most recent news from the company came on February 24, when it announced that it executed a definitive agreement with a US-based helium provider to relocate and commission an existing helium plant to its Sweetgrass project in Montana.

Avanti said it’s a major milestone for Avanti as it transitions from development stage planning to near-term production.

Its share price was buoyed by rocketing helium prices this week due to disruptions from the war in the Middle East.

4. Desert Mountain Energy (TSXV:DME)

Weekly gain: 69.64 percent
Market cap: C$40.87 million
Share price: C$0.475

Desert Mountain Energy is an exploration, development and production company focused on advancing helium, hydrogen and natural gas assets in New Mexico and Arizona, US.

Its operations in West Pecos consist of the West Pecos gas field, which hosts 188 wells across 77,000 acres of oil and gas leases with expansion potential of up to 100 additional wells. West Pecos is also home to a helium processing facility that is capable of producing various grades of helium and a 60,000 gallon accumulation tank at the site allowing the company to process natural gas, condensate and helium.

Desert Mountain also owns the Holbrook helium project in Arizona’s Holbrook basin. It comprises over 100,000 acres of helium prospects and is situated in a region that has historic production of 9.23 billion cubic feet of helium with grades between 8 and 10 percent.

Shares in Desert Mountain Energy gained this week alongside rising helium prices. The company has not released news since February 24, when it announced the creation of Helios Data Company. The new subsidiary will be used to manage and monetize data generated by its noble gas plants.

5. Karnalyte Resources (TSX:KRN)

Weekly gain: 46.15 percent
Market cap: C$26.38 million
Share price: C$0.38

Karnalyte Resources is an exploration and development company advancing its Wynyard potash project in Central Saskatchewan, Canada.

The property consists of three primary mineral leases covering 367 square kilometers east of Saskatoon.

Karnalyte released an updated feasibility study for the project on November 26. The study demonstrated economic viability, according to Karnalyte, with an after-tax net present value of C$2.04 billion, an internal rate of return of 12.5 percent, a payback period of 8.8 years and a mine life of 70 years.

The company also stated that development would benefit from a secured offtake agreement under which India-based GFSC, a major shareholder in Karnalyte, would purchase 350,000 metric tons per year during Phase 1, with additional commitments for 250,000 metric tons per year after Phase 2 is complete.

The company has not released news since February 4, when it issued a press release welcoming the agreement between the governments of Canada and India to establish a long-term potash supply to the Indian agriculture industry.

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. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while 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.