Mr. Guy Bourassa reports

OVERWHELMING SHAREHOLDER SUPPORT AT 2026 ANNUAL MEETING; SCANDIUM CANADA ENTERS THE YEAR FULLY FUNDED TO ADVANCE PFS, DRILLING CAMPAIGN AND AL-SC ALLOYS QUALIFICATION

Scandium Canada Ltd. has released the voting results from its annual general and special meeting of shareholders, held on April 21, 2026.

All resolutions submitted to the vote were approved by strong majorities, including unanimous (100 per cent) support for the company's slate of six directors: Guy Bourassa, Pierre Neatby, Jeff Swinoga, Robert Kitchen, Jean Lafleur and the newly appointed director, Cindy Valence, in a show of strong support for the company's management team.

A total of 71,044,186 common shares were represented at the meeting, representing 18.48 per cent of the company's issued and outstanding shares.

The company enters the balance of 2026 with approximately $15-million in cash and $6.9-million in confirmed non-dilutive Canadian government funding, financing a work program built around three distinct workstreams over the next 12 months:

1. Qualification of its two proprietary aluminum-scandium alloys;
2. Completion of an independent preliminary feasibility study (PFS) on the TG zone at Crater Lake;
3. A $5-million drilling campaign designed to secure a representative metallurgical sample.

Meeting results -- highlights

Election of directors

All six nominees on the company's slate were elected with 100 per cent of votes cast in favour:

• Mr. Bourassa -- 100.00 per cent;
• Mr. Kitchen -- 100.00 per cent;
• Mr. Lafleur -- 100.00 per cent;
• Mr. Neatby -- 100.00 per cent;
• Mr. Swinoga -- 100.00 per cent;
• Ms. Valence -- 100.00 per cent.

Appointment of auditor

Raymond Chabot Grant Thornton was reappointed as the company's auditor with 99.98 per cent approval.

Share option plan

The company's share option plan was approved by shareholders with 93.03-per-cent support.

Restricted share unit plan

The company's restricted share unit plan was approved by shareholders with 94.83 per cent support.

Following the meeting, Mr. Swinoga continues as chairman of the board and Mr. bourassa as chief executive officer.

Financial position

Scandium Canada closed an oversubscribed public offering on March 17, 2026, for aggregate gross proceeds of $17,250,046, upsized from an initial target of $10-million. On March 2, 2026, the company secured a non-dilutive federal grant of $6,915,478 under Natural Resources Canada's global partnerships initiative. The company now holds approximately $15-million in cash, with grant funds available for deployment against specific milestones.

The company's 2026 work program is fully financed from existing resources. Proceeds and grant funds are allocated against defined catalysts, as set out below.

Three workstreams for 2026

Alloys qualification: The qualification campaign for the company and its Scandium+ division's two proprietary aluminum-scandium alloys, supplied as powders for L-PBF 3-D printing and wires for welding, wire arc additive manufacturing (WAAM), and advanced manufacturing applications, is under way with industrial partners. Milestones will be communicated on a rolling basis through 2026 as each qualification stage is cleared.

Preliminary feasibility study: Led by Norda Stelo, an independent PFS covering the TG zone of the Crater Lake project is in progress. Engineering contracts have been awarded, work is advancing and completion is targeted for the end of summer 2026. The study integrates mineral resource, mine plan, processing, capital and operating cost parameters.

Drilling campaign: A drilling campaign on the Crater Lake property is scheduled for the 2026 field season. Its primary objective is to recover a representative sample of the TG zone to support metallurgical testwork scheduled for the first half of 2027.

Chief executive officer quote

"With $15-million in cash and $6.9-million in government grant funding, we are entering 2026 with every dollar allocated against a defined catalyst: alloy qualification, the PFS and drilling at Crater Lake. Our focus this year is execution," said Guy Bourassa, CEO of Scandium Canada.

About Scandium Canada Ltd.

Scandium Canada is a public company, the ultimate goal of which is to bring the world's leading primary source of scandium into production, enabling the development and commercialization of aluminum-scandium (Al-Sc) alloys. The company is leveraging its Al-Sc alloy development division and the development of its Crater Lake mining project to meet the growing need for lighter, greener, longer-lasting, high performance materials. The company aims to become a market leader in scandium, while committing itself to building a more responsible economy through innovation and agility.

About Scandium+

Scandium+, a division of Scandium Canada, is dedicated to the research, development and commercialization of innovative scandium uses. It strives to unlock the full potential of scandium through strategic partnerships, cutting-edge technology and a commitment to responsible stewardship, leading progress across multiple sectors.

We seek Safe Harbor.