"The fire is out, it's obviously good news," Marshall Hamilton, a spokesman for mining company Mosaic, said in a telephone briefing from the site.
"They're all safe, they're all secure, they're all accounted for and we'll be escorting them out of the mine some time tonight."
The fire broke out at yesterday at the mine in Esterhazy, Saskatchewan, but the miners rushed to safety in the refuge rooms.
Rescuers will now begin the process of ventilating the mine to allow the miners to leave the safe rooms.
Mr Hamilton said the miners were trained to seek safety in the refuge stations, which are specifically built and designed for such incidents.
"In those refuge stations, the workers can seal themselves in and be safe with enough oxygen, food and water to be comfortable for 36 hours at the least," he said, adding that the families of the trapped miners had been contacted.
The mine scare raised memories of an explosion in a West Virginia coal mine earlier this month, which killed 12 miners and injured another.
The Canadian mine, owned by Minnesota-based Mosaic Co, is the main employer in the small town, which is near the provincial border with Manitoba. It produces potash, a mineral used in the production of fertiliser.