Scandium Canada Provides Activities Update on Alloy Commercialization, Crater Lake Drilling, and Record Q3 Financial Results

Scandium Canada Ltd. (SCD) reported its third-quarter financial results for the fiscal year ending May 31, 2026, highlighting a record-strength balance sheet with $15.2 million in working capital and $11.6 million in cash. The company successfully integrated its newly acquired subsidiary, Scalium+ (formerly Ferreol Technologies), which closed on June 29, 2026, adding a commercial sales team and production workflow for proprietary Al-Sc alloys.

Operational updates include drilling progress at the Crater Lake project, with 1,593 meters completed across 8 holes, representing approximately 40% of the 4,000-meter program. This phase focuses on collecting an 8-10 tonne metallurgical bulk sample. Commercial developments feature promising preliminary results for the SC7075 aluminum-scandium alloy wire in Wire Arc Additive Manufacturing (WAAM) trials, with potential market demand estimated at up to 30 tonnes per year of scandium oxide. Management confirmed that current funds are sufficient to meet obligations and budgeted expenses for at least the next 12 months.

Scandium Canada Ltd. (SCD) released an update on July 16, 2026, confirming that management is executing its 2026 operational plan as outlined in April. The company holds a record balance sheet with $11.6M in cash and $0 in debt. This financial position, combined with the successful integration of a recent acquisition, de-risks the near-term timeline to revenue, particularly through the downstream alloy division.

The update serves as a progress report on previously announced initiatives, including the March financing, the June acquisition, and the June drilling start. It does not contain fundamentally new market-moving information but validates the company's financial and operational trajectory.

Scandium Canada Ltd. is a junior explorer and developer focused on the Crater Lake project in Nunavik, Quebec, which is positioned as North America's largest primary source of scandium and rare earth elements. The company operates a "two-engine" strategy that includes the upstream development of the Crater Lake mine and the downstream commercialization of proprietary aluminum-scandium (Al-Sc) alloys through its Scandium+ and Scalium+ divisions.

The flagship Crater Lake project targets the TG Zone, with a NI 43-101 mineral resource estimate indicating 16.3 Mt indicated and 20.9 Mt inferred resources. The company is advancing toward a Pre-Feasibility Study (PFS) and aims to establish a hydrometallurgical plant in the Schefferville region.