TSX | TSXV Guide to Listing 2026 43 LISTING REQUIREMENTS Mining Companies TSX Senior Mining Company Qualifying Property1,2 as detailed in a report conformed to NI 43-101 Proven and probable reserves to provide a 3 year mine life detailed in a report prepared by an independent qualified person Production OR Work Program Funding Adequate working capital to carry on the business Capital Structure Positive working capital in the most recent interim and audited periods OR Alternate evidence of liquidity Income Annual audited pre-tax net income from continuing operations in the fiscal year immediately preceding the TSX listing application Pre-tax Cash Flow from Operations $1,250,000 in the fiscal year immediately preceding the TSX listing application AND Average of $900,000 for the two fiscal years immediately preceding the TSX listing application Market Support $100,000,000 market capitalization Management & Board of Directors Management, including board of directors, should have adequate experience and technical expertise relevant to the company’s mining projects as well as adequate public company experience. Companies are required to have at least two independent directors, a Chief Executive Officer (CEO), a Chief Financial Officer who is not also the CEO, and a Corporate Secretary. Public Distribution All applicants are required to demonstrate public distribution of at least 1,000,000 freely trading public shares held by at least 300 public shareholders each holding a board lot or more. Sponsorship A sponsorship report prepared by a TSX Participating Organization is required in the following circumstances: • Where the applicant has not filed a prospectus for an offering of securities underwritten by a Participating Organization within six months prior to the date of listing, unless graduating from the TSX Venture Exchange; • Where the application involves an emerging market jurisdiction; • Where there are governance issues for which TSX requires additional commentary; • Where, based on TSX’s review of management personal information forms and/or experience, additional commentary is required; or • Where, based on TSX’s review of title and ownership of a resource property, additional commentary is required. 1 “Qualifying Property” means any property upon which an Issuer applying under Section 314 is relying on in order to meet the minimum listing requirements. 2 A company must hold or have the right to earn and maintain a 50% interest in the Qualifying Property. Companies holding less than a 50% interest, but not less than a 30% interest, may be considered on a case-by-case basis looking at program size, stage of advancement of the property and strategic alliances.
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