Scandium Canada Intersects 124.9 m at 232 ppm Scandium Oxide at Crater Lake and Identifies a Favourable Corridor of Nearly 3 km

Scandium Canada Ltd. (SCD) released the first assay results from the 2026 Crater Lake diamond drilling program, focusing on three bulk-sample holes in the South Lobe of the TG deposit. The headline interval came from hole CLB26072, which returned 124.90 m at 232 ppm Sc₂O₃ from 55.10 m to 180.00 m, including 10.35 m at 461 ppm Sc₂O₃.

Additional intervals reported include: * CLB26072: 30.20 m at 228 ppm from 7.30 m * CLB26070: 13.45 m at 315 ppm; 65.40 m at 175 ppm including 7.20 m at 316 ppm; 8.95 m at 181 ppm * CLB26073: 14.15 m at 227 ppm; 33.80 m at 222 ppm; 31.75 m at 223 ppm including 7.15 m at 346 ppm

All reported intervals represent core lengths, with no true widths stated. The company stated that every bulk-sample hole intersected scandium-bearing olivine-rich or pyroxene-rich ferrosyenites at grades consistent with the 2025 mineral resource estimate.

A new high-resolution drone magnetic survey identified a favourable magnetic corridor of close to 5 km, with approximately 3 km running from the Discovery Area through the TG deposit to the northern limit of the TG zone. The 2026 program has been adjusted to include 24 new exploration holes, 2 extension/infill holes on the East flank, and 3 resource extension holes, leaving approximately 4,500 m of drilling remaining.

The pre-feasibility study is postponed; instead, the company plans an updated Mineral Resource Estimate before the end of 2026 and a NI 43-101 Preliminary Economic Assessment in early November 2026. The project basis is now a mine with ore hauled over approximately 350 km to a concentrator and hydrometallurgical plant in the Schefferville region, preferably on a brownfield site.

Scandium Canada Ltd. (SCD) is a pre-revenue mining developer and explorer with an existing resource, no reserves, and a downstream alloy commercialization subsidiary. The company has a market capitalization of approximately C$106 million, positioning it as a junior with exploration and development optionality.

Recent assay results confirm the known TG deposit at roughly resource grade from bulk-sample holes, but they do not materially change the investment thesis. No resource growth has yet been demonstrated by these assays. The magnetic corridor represents a positive exploration update that could eventually support resource expansion, although it is not yet reflected in new drill intercepts.

The company has shifted its schedule from a summer 2026 Preliminary Feasibility Study (PFS) to a November 2026 Preliminary Economic Assessment (PEA). This change removes a nearer-term engineering milestone and replaces it with a lower-confidence economic study, although an updated Mineral Resource Estimate (MRE) is now targeted before the end of 2026.

Against the price chart, the stock has recovered from C$0.12–0.14 in April to C$0.20–0.23 in August, partly driven by the drilling program and extension story. The market cap of roughly C$106 million reflects a pre-revenue, pre-PEA project with a 16.3 Mt Indicated and 20.9 Mt Inferred resource. This valuation already prices in meaningful exploration and development success, suggesting this release alone is unlikely to move the equity materially.

Scandium Canada Ltd. (SCD) operates as a junior critical minerals company with two primary business segments: the Crater Lake scandium-REE project in Nunavik, Quebec, and its downstream subsidiary, Scalium+, which focuses on aluminum-scandium alloy commercialization.

The Crater Lake TG Zone features a mineral resource estimate effective April 2, 2025, with an NSR cut-off of C$205.54/t. The deposit is described as 700 m long, 200 m deep, with an average width of 130 m, and is open in all directions. The resource includes:

• Indicated: 16.3 Mt at 277.9 g/t Sc₂O₃
• Inferred: 20.9 Mt at 271.9 g/t Sc₂O₃

Both categories include REE co-products.

Scalium+ was established following the June 2026 acquisition of Ferreol Technologies. The subsidiary reports commercial alloy sales into the sporting goods sector and is conducting R&D and qualification efforts for the automotive, aerospace, defense, and additive manufacturing industries.

The company has raised substantial capital through flow-through and bought-deal financings and holds a large share count with significant warrants and options outstanding.