SCD:CC - Scandium Canada Updates on the Optimization of its Mineral Processing Flowsheet

(TheNewswire)

MONTRÉAL, QUÉBEC – TheNewswire - February 29, 2024 – Scandium Canada Ltd. (the“Company” or "Scandium Canada") ( TSX V :SCD ) ( OTC:SCDCF ) is pleased toprovide an update on its mineral processing campaign announced in its press release of October 24,2023 .

The Company started optimizingits mineral processing and hydrometallurgical flowsheet for scandiumand rare earths at SGS Canada Inc. in Lakefield, Ontario, to supportthe preparation of a Pre-Feasibility Study (PFS) of the Crater LakeProject in northeastern Québec. This optimization campaign uses a600 kg ore sample from a 15-ton bulk sample extracted from CraterLake.

Scandium Canada’s President and COO, Pierre Neatby,said: “The test work at SGS is moving forward with the support ofYakum Consulting. It is a very important component of the PFS that weare planning to deliver, and we are pleased with the progress of thefirst phase of the testwork.”

The optimization program uses the base-case flowsheetreported in the 2022 Preliminary Economic Assessment (PEA) 1 . It works toimprove the recovery of the payable metals (scandium and rare earths)while improving the flowsheet's capital and operating costs.

The current work confirms a 26.8% increase of thescandium concentrate grade after LIMS (Low-Intensity MagneticSeparation) and WHIMS (Wet High-Intensity Magnetic Separation) whencompared to the results shown in the PEA.

The results in the table below show that samplesprocessed at SGS Lakefield in February 2024 with similar initial oregrade (159 mg/kg vs 160 mg/kg) returned a concentrate with 26.8%higher Sc content (289 mg/kg vs 228 mg/kg) with the same Sc recovery(93.8%) when compared to the sample used in the PEA.

Click Image To View Full Size

The results of the work at SGS, with several smallersamples, were to confirm the best operating parameters for the LIMSand WHIMS and prepare the running of at least 500kg of ore to produceconcentrate for the next phase of testing which is the presssure acidleach.

Peter Kondos and Yeonuk Choi of YaKum Consulting Inc.said: “We are excited and encouraged by the results of the magneticseparation phase of the pilot work. We are looking forward to the nextphase of testing, and participating in the commercial success of thisproject.”

The optimization work is supported by a $500,000 grantfrom Le Consortium derecherche et d’innovation en transformation métallique (CRITM), which is one of the nine industrial research sectorgroups (RSRIs) in Québec . CRITM is funded by the Ministry of NaturalResources and Forests of Québec. It is anetwork dedicated to industrial research and offers companiesstrategic support and financial assistance to carry out their researchprojects.

The scientific and technical contentconcerning mettalurgy and processing contained in this press releasewas reviewed and approved by Peter Kondos, Ph.D., FAusIMM, ScandiumCanada’s Technical Advisor, Metallurgical Processing, a Metallurgistand a “Qualified Person” as defined by NI 43-101.

ABOUT SCANDIUM CANADA LTD.

Scandium Canada is a Canadian technology metals companyfocused on advancing its flagship Crater Lake scandium and rare earthproject in Québec.

For further information pleasecontact:

Website : www.scandium-canada.com Twitter : @ScandiumCanada Facebook : Scandium CanadaLtd.
LinkedIn : Scandium canada Ltd. Instagram : @scandiumcanada

This news release may includeforward-looking statements that are subject to inherent risks anduncertainties. All statements within this news release, other thanstatements of historical fact, are to be considered forward lookingstatements. Forward-looking statements including, but not limited toScandium Canada’s future plans and objectives regarding the CraterLake Project (the “Project”), which constitute forward lookinginformation that involve various risks and uncertainties. AlthoughScandium Canada believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those described inforward-looking statements. Although Scandium Canada has attempted toidentify important factors that could cause actual results to differmaterially from those contained in forward-looking information, theremay be other factors that cause results not to be as anticipated,estimated or intended. Factors that may cause actual results to differmaterially from expected results described in forward-lookinginformation include, but are not limited to its ability to seethrough the next phases of development on the Project, its ability toproduce a pre-feasibility study or a feasibility study regarding theProject, its ability to execute on its development plans in terms ofmetallurgy or exploration, the availability of financing foractivities, as well as those risks set out in the Company’sManagement Discussion and Analysis for its most recent quarterand other disclosure documents available under the Company’s SEDAR+profile. There can be no assurances that such statements will proveaccurate and, therefore, readers are advised to rely on their ownevaluation of such uncertainties. Forward-looking informationcontained herein is made as of the date of this news release andScandium Canada disclaims any obligation to update any forward-lookinginformation, whether as a result of new information, future events orresults or otherwise, except as required by applicable securitieslaws.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

1 NI 43-101 Preliminary Economic Assessment of the CraterLake Project in Québec, with an effective date of July 26, 2022, andprepared by WSP Canada Inc. is available under Scandium CanadaLtd.’s Issuer Profile on SEDAR+ ( www.sedarplus.com ).

Copyright (c) 2024 TheNewswire - All rights reserved.