本文通过研究国内外风险勘查资本市场的发展现状，结合中国风险勘查市场的实际情况，认为风险勘查资本市场参与主体的缺失、矿业投资诚信的缺失、矿业政策制度的落后、矿业资本市场配套制度不健全等问题是构建风险勘查资本市场面临的主要挑战，并提出了利用境外市场培育中国风险勘查市场参与主体、改善国内矿业投资环境并建立信用体系，最终建立中国风险勘查资本市场板块的“三步式”发展路径。

This paper first studies the development status of domestic and overseas venture exploration capital markets (VECMs). Combining the current situation of the venture exploration market in China, this paper concludes that lack of participants in the VECM, lack of credibility of mining investment, backward mining policies, and the defective supporting system for the VEMC are the main challenges in building a strong VECM. To establish the VECM in China, the paper proposes a three-step development path, which to first cultivating the VECM participants in China using the overseas market, then improving the domestic mining investment environment and establishing a credit system, and finally, establishing China's VECM.