Scandium Canada Secures Federal Government Support of up to $6.9m for its Crater Lake Project

(TheNewswire)

Scandium Canada is proud to advanceCanada's leadership in critical minerals on the world stage withNorth America’s largest primary source of scandium and proprietaryaluminum-scandium (Al-Sc) alloys

March 2, 2026 – TheNewswire -MONTREAL, QUEBEC – ScandiumCanada Ltd. (TSX-V: SCD) (the “Company”) ispleased to announce that it has signed a non-refundable contributionagreement of up to $6,915,478 under Natural Resources Canada’sGlobal Partnerships Initiative ("GPI") for theCompany's Crater Lake scandium and rare earth elements project inQuébec and its proprietary Al-Sc alloys. The agreement was announcedat the world's premier mining convention, PDAC 2026, by TheHonourable Tim Hodgson, Minister of Energy and Natural Resources, andGuy Bourassa, Chief Executive Officer of Scandium Canada, marking adefining moment for the G7 Critical Minerals Production Alliance, ledby Canada on the global stage.

This federal support reflects the exceptional strategicvalue of the Crater Lake project, its proprietary Al-Sc alloys and thestrength of the Company's scientific expertise and internationalpartnerships.

The GPI contribution represents 69% of the projectcosts presented and will be used to scale up the company’spatent-pending processes for the beneficiation, extraction, andpurification of scandium and rare earth elements (REEs) throughmineral processing test work and by progressing to FEL-3 engineeringstandards, completing detailed design and specifications, anddeveloping a comprehensive cost estimate and execution schedule.Additionally, the project will carry out applied research with endusers to optimize aluminium-scandium alloys products.

International partnerships

This federal support unlocks immediate value for theCompany's strategic partners, without waiting for the Crater Lakemine to reach full production, through its Scandium+ division:

• Gränges PowderMetallurgy ("GPM"):  Further to theMemorandum of Understanding signed with Gränges Powder Metallurgy("GPM") in November 2025, Scandium Canada continues toadvance the integration of its proprietary scandium-modified AA535 andAA7075 alloys into GPM's product offering without waiting for theCrater Lake mine to reach full production. GPM, a wholly ownedsubsidiary of the global aluminum technology company Gränges Group,is a global supplier of spray-formed aluminum products and aluminumpowders for additive manufacturing, and this collaboration brings tothe world stage a compelling technological breakthrough inhigh-performance, scandium-enhanced alloys. 

• A second partner stands to benefit directly from Scandium Canada'sspecialized metallurgical knowledge for the recovery of scandium frompolymetallic deposits. Scandium, being notoriously difficult toseparate and purify from co-occurring nickel and cobaltmineralization, is a challenge that Scandium Canada's team isuniquely positioned to solve. This collaboration extends the reach ofCanadian scientific expertise into international mining operations,creating value for both parties well ahead of Crater Lake'sproduction timeline. 

• Finally, a third partner represents a natural strategic fit as Scandium Canadaadvances toward production. Both organizations share a commitment tobuilding resilient, non-Chinese supply chains for critical minerals,and this partnership lays the groundwork for deeper collaboration asthe Crater Lake project matures. 

"It is a privilege to be among the few Canadiancompanies selected under the GPI, a recognition that speaks directlyto the strategic importance of Crater Lake as North America'slargest primary source of scandium as well as our importantdevelopments of Al-Sc alloys amenable to 3D printing and advancedmanufacturing in particular. NRCan's support is a crucialmilestone that provides non-dilutive funding through 2028, allowingour team to focus entirely on execution.” declared Guy Bourassa, Chief Executive Officer,Scandium Canada. “Together with ourinternational partners, we will accelerate the development of CraterLake while continuing to advance our Scandium+ alloy commercializationefforts, demonstrating to the world that Canada is a reliable,world-class supplier of the critical materials our allies can dependon, supported by highly competent technical people."

“Canada and our partners are putting real capitalbehind the secure and sustainable critical mineral supply chains thatour economies and defence industries rely on,” said the Honourable Tim Hodgson, Ministerof Energy and Natural Resources. “By workingwith companies like Scandium Canada, we are helping deliver theminerals the world needs and the prosperity and security Canadiansdeserve.”

ABOUT THE GLOBAL PARTNERSHIPSINITIATIVE

The Global Partnerships Initiative is a NaturalResources Canada program designed to support the development ofcritical minerals projects in Canada. The GPI program aims tostrengthen domestic supply chains and advance Canada's positionas a reliable supplier of critical minerals to global markets,particularly to allied nations seeking to reduce dependency on foreignsources.

ABOUT SCANDIUM CANADA LTD.

Scandium Canada (TSX-V: SCD) is apublic company whose ultimate goal is to bring the world'sleading primary source of scandium into production, enabling thedevelopment and commercialization of aluminum-scandium (Al-Sc) alloys.The Corporation is leveraging its Al-Sc alloy development subsidiaryand the development of its Crater Lake mining project to meet thegrowing need for lighter, greener, longer-lasting, high-performancematerials. The Corporation aims to become a market leader in scandium,while committing itself to building a more responsible economy throughinnovation and agility.

FORWARD-LOOKING STATEMENTS

All statements in this press releaseincluding the paragraph “About Scandium Canada Ltd.” above, whichessentially describes the Company's prospects, constitute“forward-looking information” or “forward-looking statements”within the meaning of applicable securities laws and are based onexpectations, estimates, and projections made as of the date of thispress release.

Forward-looking statements arenecessarily based upon a number of estimates and assumptions that,while considered reasonable by the Corporation as of the time of suchstatements, are inherently subject to significant business, economicand competitive uncertainties, and contingencies. These estimates andassumptions may prove to be incorrect. Many of these uncertainties andcontingencies can directly or indirectly affect, and could cause,actual results to differ materially from those expressed or implied inany forward-looking statements and future events, could differmaterially from those anticipated in such statements. A description ofassumptions used to develop such forward-looking information and adescription of risk factors that may cause actual results to differmaterially from forward-looking information can be found in theCorporation’s disclosure documents on the SEDAR+ website atwww.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 TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

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