Abstract: The key to alleviate the shortage of China mineral resources is to build the mechanism of mineral exploration adapted to the market economy system. Based on the analysis of the concept of new mechanism and the existing problems in building the new mechanism, authors put forward six suggestions on how to build the mechanism, including in establishing the dominant position of enterprise in mineral exploration, widening inwestment channels of exploration, standard of mineral rights market, perfecting exit mechanism, establishing preferential policies, strengthen the function of government.