Markets and commodities react

Canadian equity markets were positive this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 0.83 percent over the week to close Friday at 34,769.14, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 3.04 percent to 1,011.51.

The CSE Composite Index (CSE:CSECOMP) gained 3.99 percent to 181.07.

The gold price rose 0.03 percent to close at US$4,544.95 per ounce on Friday at 4:00 p.m. EDT. The silver price fared worse, losing 1.58 percent to come in at US$75.58 per ounce on Friday.

In base metals, the Comex copper price recorded a 0.7 percent decrease this week to US$6.40 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was down 5.09 percent to end Friday at 694.56.

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. Wilton Resources (TSXV:WIL)

Weekly gain: 68.63 percent
Market cap: C$30.86 million
Share price: C$0.43

Wilton Resources is an oil and gas explorer focused on acquiring an international portfolio of properties.

The company owns a working interest in a well located in Alberta, Canada. In its management discussion and analysis, released on Wednesday (May 27), Wilton said the well generated C$1,437 in revenue for the first quarter of 2026, down from the C$2,983 recorded during the same period in 2025.

While the well is the only producing asset held by the company, it is working with third-party consultants to identify suitable acquisition assets, with a focus on Africa and the Middle East.

Shares of Wilton were up this week, but the company did not release any other news.

2. McFarlane Lake Mining (CSE:MLM)

Weekly gain: 67.86 percent
Market cap: C$82.76 million
Share price: C$0.235

McFarlane Lake Mining is a gold exploration company working to advance its flagship Juby gold project north of Sudbury, Ontario. According to a September 2025 report, the asset hosts an indicated resource of 1.01 million ounces of gold with an average grade of 0.98 grams per metric ton (g/t) from 31.74 million metric tons of ore, with an additional inferred resource of 3.17 million ounces grading 0.89 g/t from 109.48 million metric tons.

On May 19, the company announced results from December 2025 drilling at Juby. One highlighted result produced a grade of 0.69 g/t over 209.6 meters and included intervals of 1.24 g/t over 23.4 meters and 2.47 g/t over 6.3 meters.

These results build on a previous highlight from the program of 0.88 g/t over 208.6 meters.

On Tuesday (May 26), McFarlane Lake said historic geophysical data from the property had identified new drill targets along trend from known deposits. It plans to mobilize another drill to test an extension of the 826 zone.

“The 826 Zone has quickly become one of the most important near-surface exploration targets at Juby,” Winston Whymark, McFarlane’s manager of exploration, said in a release.

McFarlane Lake's most recent news came on Thursday (May 28), when it entered into a C$6.75 million private placement led by Michael Gentile, who agreed to subscribe to C$6.35 million of the offering. Pierre Beaudoin, director at Coeur Mining (TSX:CDE,NYSE:CDE), subscribed to the remainder.

3. GoldQuest Mining (TSXV:GQC)

Weekly gain: 63.64 percent
Market cap: C$214.37 million
Share price: C$0.72

GoldQuest Mining is a mineral exploration and development company focused on assets located in the San Juan province of the Dominican Republic. The company's flagship properties are the Romero North and South deposits in the central portion of the larger Tireo project. Estimates from a 2016 prefeasibility study indicate mine reserves of 840,000 ounces of gold, 980,000 ounces of silver and 62,000 metric tons of copper.

In June 2025, GoldQuest received terms of reference from the Ministry of Environment and Natural Resources, allowing it to initiate the final phase of the environmental impact assessment for the property.

On Thursday, the company made a pair of announcements.

In the first, it reported high-grade mineralization at the Cachimbo target located within the broader Tiero project area. Results returned a highlighted grade of 8.6 g/t gold, 128.2 g/t silver, 0.77 percent copper, 11.21 percent zinc and 0.34 percent lead over 12.15 meters at a depth of 277.35 meters.

The company said the drill hole supports the potential for continued mineralization along trend, and added that it sees an opportunity to expand the target and test for new anomalies along a 7.5 kilometer corridor.

In the second announcement, GoldQuest stated that assays from a five hole drill program at Romero also returned high-grade results, with a highlight of 45.01 g/t gold, 14.31 g/t silver and 2.44 percent copper over 38.6 meters; that includes an intersection with 63.82 g/t gold, 18.93 g/t silver and 3.23 percent copper over 26.85 meters.

4. GoldHaven Resources (CSE:GOH)

Weekly gain: 50 percent
Market cap: C$15.16 million
Share price: C$0.33

GoldHaven Resources is an exploration and development company advancing projects in BC and Brazil.

Its most recent focus has been its Magno project in BC’s Cassiar mining district. The property consists of 53 mineral claims covering 36,814.16 hectares, and borders mineral claims held by Cassiar Gold (TSXV:GLDC,OTCQX:CGLCF) and Coeur Mining. The site hosts silver, lead and gold mineralization at Magno North, with additional quantities of tin, indium and gallium. Porphyry targets at Magno West have shown mineralization with copper and molybdenum.

On Monday, the company published a press release outlining the strategic significance of tungsten and indium mineralization at Magno, noting western efforts to secure domestic supply chains of the critical minerals.

In the statement, GoldHaven CEO Rob Brimingham said, “We believe Magno represents a district-scale critical minerals opportunity combining tungsten-bearing skarn systems, high-grade silver-zinc-lead CRD mineralization, and elevated indium values within one of Canada’s premier mining jurisdictions.”

On Thursday, the company reported that an airborne survey at the project was being expanded to 2,237 line kilometers, with results being used to identify targets for a 5,000 meter drill program later in 2026.

5. Precipitate Gold (TSXV:PRG)

Weekly gain: 48.78 percent
Market cap: C$48.35 million
Share price: C$0.305

Precipitate Gold is an exploration company with a portfolio of assets in the Dominican Republic.

Its primary focus through the start of the year has been the 7,106 hectare Pueblo Grande project. The property is located in an area surrounding Barrick Mining's (TSX:ABX,NYSE:B) Pueblo Viejo mine, which produced 379,000 ounces in 2025. To date, the project has seen more than 200 historic drill holes totaling 29,500 meters.

The most recent news from the project came on March 25, when Precipitate initiated a 2,000 meter drill program to test a newly identified cluster of anomalies identified through a review of historic survey data.

Precipitate President and CEO Jeffrey Wilson said, “With drilling now underway, we look forward to testing this target and evaluating initial results to determine its potential to host meaningful gold mineralization.”

The company also owns the 12,746 hectare Juan de Herrera project, located adjacent to GoldQuest Mining’s Tireo project, and the 3,250 hectare Ponton project, located 20 kilometers east of Pueblo Grande.

On May 5, the company also released a statement regarding the halt to activities at GoldQuest’s Romero deposits, with Wilson stating, “We view the government’s announcement as part of the necessary dialogue that accompanies responsible project development.”

He noted that the government’s decision applies only to the one project and does not affect projects owned by Precipitate, and that the company’s exploration and drill permits remain in good standing.

The company has not released news this week.

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.