Mr. Guy Bourassa reports

SCANDIUM CANADA GRANTS 2,100,000 STOCK OPTIONS AT $0.22 UNDER SHAREHOLDER-APPROVED PLAN TO ITS BOARD MEMBERS AND MANAGEMENT TEAM

Scandium Canada Ltd. has granted 2.1 million incentive stock options to its full team of directors, officers and key personnel under the share option plan approved by shareholders at the April 21, 2026, annual general and special meeting.

At a meeting held on April 24, 2026, the board of directors of the company approved the grant of an aggregate of 2.1 million incentive stock options pursuant to the company's share option plan, reflecting a broad alignment of the company's board, management and key personnel with shareholder interests. The options are exercisable at a price of 22 cents per common share for a period of five years from the date of grant. The exercise price matches the price of the company's recently completed $17.25-million oversubscribed public offering closed on March 17, 2026, and represents a meaningful premium to the company's current trading price.

The options were granted as follows.

Chairman of the board:

• Jeffrey Swinoga: 750,000 options.

Independent directors:

• Robert Kitchen: 150,000 options;
• Jean Lafleur: 150,000 options;
• Cindy Valence: 150,000 options.

Management and key personnel:

• Guy Bourassa, chief executive officer: 150,000 options;
• Pierre Neatby, president and chief operating officer: 150,000 options;
• Luc Duchesne, chief scientific officer: 150,000 options;
• Steve Nadeau, chief financial officer: 150,000 options;
• Jean-Francois Magnan, chief technology officer: 150,000 options;
• Arnaud Bourassa Francoeur, director, communications and marketing: 150,000 options.

The options vest in accordance with the following schedule: 25 per cent vest on the date that is three months from the date of grant; 25 per cent vest on the date that is six months from the date of grant; 25 per cent vest on the date that is nine months from the date of grant; and the remaining 25 per cent vest on the date that is 12 months from the date of grant, resulting in full vesting within one year.

The grant remains subject to the approval of the TSX Venture Exchange.

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.

We seek Safe Harbor.