Scandium Canada Mandates Engineering Firm Norda Stelo to Lead the Pre-Feasibility Study for the Crater Lake Project

(TheNewswire)

February6, 2026– TheNewswire - MONTRÉAL, QUÉBEC – Scandium Canada Ltd. (TSX-V: SCD) (the“Company”) is pleasedto confirm the signing of a service agreement with Québec-basedengineering firm Norda Stelo for the completion of the pre-feasibilitystudy (“PFS”) for the Crater Lake project. The timeline for thedelivery of the study’s conclusions remains summer 2026, with thefinal report expected to be released at the end of August2026.

Norda Stelo will be responsible for theoverall completion of the PFS, including the integration of the“Updated Mineral Resource Estimate” NI 43-101 technical reportfrom April 2025. This mandate does not include tasks related tometallurgical processes and recovery, which will be carried out byfirms selected by Scandium Canada.

“We are very excited about theprogress being made. Thanks to the exercise of warrants since December1st, we are able to advance the project to another pivotalmilestone,” said Guy Bourassa, CEO of Scandium Canada. “The CraterLake project includes the construction of mining infrastructure with acamp, power generation, and an airstrip, as well as the constructionof a hydrometallurgy plant in the Schefferville region.We are also in advanced discussionsregarding the analysis of an access road project from Schefferville tothe Crater Lake site, which would not be included in the PFS beingcontemplated.”

AboutNorda Stelo

Norda Stelo is a Quebec-basedconsulting-engineering firm operating in Canada and internationally.It assists public and private organizations in carrying out complexprojects related to infrastructure, transportation, natural resources,energy, and manufacturing. Its approach is based on assetsustainability, risk management, and the integration of digitalsolutions to support informed decision-making in the context ofclimate and industrial transition. The company has nearly 900employees.

About Scandium CanadaLtd.

Scandium Canada (TSX-V: SCD) is a publiccompany whose ultimate goal is to bring the world's leadingprimary source of scandium into production, enabling the developmentand commercialization of aluminum-scandium (Al-Sc) alloys. TheCorporation is leveraging its Al-Sc alloy development subsidiary andthe development of its Crater Lake mining project to meet the growingneed for lighter, greener, longer-lasting, high-performance materials.The Corporation aims to become a market leader in scandium, whilecommitting itself to building a more responsible economy throughinnovation and agility.

Forward-lookingstatements

All statementscontained in this press release, including, without limitation,statements regarding the delivery of the pre-feasibility studyconclusions and its final report and, more generally, the “AboutScandium Canada Ltd.” paragraph above, which essentially describesthe Company’s outlook, constitute “forward-looking information”or “forward-looking statements” within the meaning of applicablesecurities laws and are based on expectations, estimates, andprojections made as of the date of this press release.

Forward-lookingstatements are necessarily based upon a number of estimates andassumption that, while considered reasonable by the Corporation as ofthe time of such statements, are inherently subject to significantbusiness, economic and competitive uncertainties, and contingencies.These estimates and assumption may prove to be incorrect. Many ofthese uncertainties and contingencies can directly or indirectlyaffect, and could cause, actual results to differ materially fromthose expressed or implied in any forward-looking statements andfuture events, could differ materially from those anticipated in suchstatements. A description of assumptions used to develop suchforward-looking information and a description of risk factors that maycause actual results to differ materially from forward-lookinginformation can be found in the Corporation’s disclosure documentson the SEDAR+ website at www.sedarplus.ca.

By their very nature,forward-looking statements involve inherent risks and uncertainties,both general and specific, and risks exist that estimates, forecasts,projections and other forward-looking statements will not be achievedor that assumptions do not reflect future experience. Forward-lookingstatements are provided for the purpose of providing information aboutmanagement’s endeavors to develop the Crater Lake project, and, moregenerally, its expectations and plans relating to the future. Readersare cautioned not to place undue reliance on these forward-lookingstatements as a number of important risk factors and future eventscould cause the actual outcomes to differ materially from the beliefs,plans, objectives, expectations, anticipations, estimates, assumptionsand intentions expressed in such forward-looking statements. All ofthe forward-looking statements made in this press release arequalified by these cautionary statements and those made in our otherfilings with the securities regulators of Canada. The Corporationdisclaims any intention or obligation to update or revise anyforward-looking statement or to explain any material differencebetween subsequent actual events and such forward-looking statements,except to the extent required by applicable law.

Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease.

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