Scandium Canada Moves to Grow the TG Zone from 700 to 900 Metres with Resource Extension Drilling Underway at Crater Lake

Scandium Canada Ltd. (SCD) has completed the first phase of its 2026 drilling campaign at the Crater Lake project, finishing 19 holes totaling approximately 3,400 meters. This initial work focused on collecting a representative metallurgical bulk sample for the TG Zone. The company has immediately launched the second phase of the campaign, targeting up to 36 additional holes for approximately 4,000 meters to extend the TG Zone's strike length from roughly 700 meters to 900 meters. Management projects that this extension could increase the TG Zone resource by 20% to 25%.

Follow-up exploration will test the Discovery Area with the goal of potentially extending the mineralized system to approximately 1.5 kilometers. Assay results from the bulk sample holes are pending and will be released as they are validated. This activity follows a $5 million charity flow-through financing closed in early August to fund the ongoing drilling and exploration campaign.

Scandium Canada Ltd. (SCD) released an expected operational update following its June 11 announcement of a 4,000-meter drilling program. The update confirms the execution of planned metallurgical sampling and outlines resource extension as the next logical step. The company indicated a potential 20-25% resource growth, a positive but incremental development given that the deposit remains open-ended.

To support this phase, Scandium Canada secured $5 million in financing, aligning with previous capital raising efforts. No new strategic partnerships, mergers and acquisitions, or unexpected financial results were disclosed. The market likely priced in the drilling campaign and financing, with the update serving to validate progress without altering the fundamental investment thesis or timeline.

Scandium Canada Ltd. (SCD) is a pre-revenue critical minerals company focused on the Crater Lake project in Nunavik, Quebec. Its flagship asset, the Crater Lake TG Zone, is North America's only planned primary scandium source. A NI 43-101 estimate indicates approximately 4,000 tonnes of contained scandium, with the deposit remaining open in all directions.

The company targets a production rate of 91 tonnes per year of scandium oxide, along with mixed rare earth elements (REEs). Scandium Canada operates a "two-engine" model that combines upstream mining development with downstream alloy commercialization. Its subsidiary, Scalium+, commercializes proprietary aluminum-scandium (Al-Sc) alloys for use in aerospace, defense, and additive manufacturing.