Nunavut is leading the North when it comes to spending on mineral exploration.

Natural Resources Canada says in 2011, $396 million has been spent within the territory, which is up 23 per cent compared to last year.

Tom Hoefer is the executive director of the Northwest Territories and Nunavut Chamber of Mines.

"Nunavut is the next frontier. You've captured the fourth largest investment in Canada this year. That's pretty notable. You have projects that have been known for over 50 years actually and they’re finally getting a chance because of the strong commodity markets to perhaps becoming mines,” he said.

Hoefer says investors have confidence in Nunavut. He added many mining projects in the territory are progressing faster than expected.

Kevin Bussey, the executive director of the Kivalliq Mine Training Society in Rankin Inlet, is doing his best to keep up.

"When you listen to what's going on in the rest of Canada and globally it's pretty exciting to be in a positive economic environment."

Bussey says in the past two years the society has trained more than 400 land claim beneficiaries, and 400 more are interested.

Exploration spending is also up in Yukon – by 21 per cent over last year. But the Northwest Territories is not faring as well. It’s only up by less than a million dollars.

"Clearly investor confidence has been shaken for the Northwest Territories and people don't want to put money here."

Hoefer says it's because of complicated regulations and unsettled land claims.