Mr. Guy Bourassa reports

SCANDIUM CANADA MANDATES ENGINEERING FIRM NORDA STELO TO LEAD THE PRE-FEASIBILITY STUDY FOR THE CRATER LAKE PROJECT

Scandium Canada Ltd. has confirmed the signing of a service agreement with Quebec-based engineering firm Norda Stelo for the completion of the prefeasibility study for the Crater Lake project. The timeline for the delivery of the study's conclusions remains summer 2026, with the final report expected to be released at the end of August, 2026.

Norda Stelo will be responsible for the overall completion of the PFS, including the integration of the updated mineral resource estimate National Instrument 43-101 technical report from April, 2025. This mandate does not include tasks related to metallurgical processes and recovery, which will be carried out by firms selected by Scandium Canada.

"We are very excited about the progress being made. Thanks to the exercise of warrants since Dec. 1, we are able to advance the project to another pivotal milestone," said Guy Bourassa, chief executive officer of Scandium Canada. "The Crater Lake project includes the construction of mining infrastructure with a camp, power generation and an airstrip, as well as the construction of a hydrometallurgy plant in the Schefferville region.

"We are also in advanced discussions regarding the analysis of an access road project from Schefferville to the Crater Lake site, which would not be included in the PFS being contemplated."

About Scandium Canada Ltd.

Scandium Canada is a public company whose ultimate goal is to bring the world's leading primary source of scandium into production, enabling the development and commercialization of aluminum-scandium alloys. The corporation is leveraging its Al-Sc alloy development subsidiary and the development of its Crater Lake mining project to meet the growing need for lighter, greener, longer-lasting, high performance materials. The corporation aims to become a market leader in scandium while committing itself to building a more responsible economy through innovation and agility.

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