Mr. Guy Bourassa reports

SCANDIUM CANADA MOVES TO GROW THE TG ZONE FROM 700 TO 900 METRES WITH RESOURCE EXTENSION DRILLING UNDERWAY AT CRATER LAKE

Scandium Canada Ltd. has completed bulk sample drilling at the TG zone of its Crater Lake project in Nunavik, Que., and has launched the next phases of the 2026 campaign: delineation, extension and exploration drilling aimed at expanding the TG zone.

Highlights

• Resource extension drilling is now under way, targeting a minimum of 200 metres of additional strike length: 100 metres at each end of the currently defined TG zone of approximately 700 metres determined in the 2025 National Instrument 43-101 MRE (mineral resource estimate);
• Bulk sample drilling was completed on Aug. 5, 2026: 19 drill holes totalling approximately 3,400 metres, collared along the full strike of the zone to provide a metallurgical sample representative of the TG zone as a whole;
• Mineralized zones were intersected in the bulk sample drill holes; chemical analyses are under way and results will be disclosed as they are received and validated;
• The next phases comprise up to 36 additional holes totaling a minimum of 4,000 metres of delineation, extension and exploration drilling, with completion anticipated in 2026 and possibly extending into 2027 depending on seasonal weather and terrain constraints;
• Follow-up exploration drilling will test the corridor toward the Discovery area, extending the prospective footprint from approximately 700 metres today to approximately 1.5 kilometres.

"The first phase delivered exactly what a feasibility study requires: a metallurgical sample collected along the full strike of the TG zone rather than from a single location. That is what makes it truly representative of the deposit," said Guy Bourassa, chief executive officer of Scandium Canada. "The real excitement starts now. With a minimum of 100 metres of extension on each side of a zone that currently runs approximately 700 metres, we have the potential to grow the TG zone resource by 20 to 25 per cent. The exploration drilling that will follow, toward the Discovery area, could ultimately extend the mineralized system to approximately 1.5 kilometres."

"The targeted mineralized zones were intersected in the bulk sample drill holes, and core logging confirmed the geological continuity we anticipated across the zone," commented Eric Kinnan, PGeo, qualified person for the company under National Instrument 43-101. "Chemical analyses are under way and results will be disclosed as they are received, compiled and validated. The drill has now turned to the delineation and extension holes north and south of the TG zone."

Bulk sample drilling completed

Between June 26 and Aug. 5, 2026, the company completed 19 drill holes totalling approximately 3,400 metres at the TG zone. The holes were collared along approximately 510 metres of strike length, covering the full extent of the currently defined zone, in order to produce a composite sample that reflects the geological variability of the deposit rather than the characteristics of a single location. The recovered mineralized material will support the metallurgical testwork required for a future feasibility study.

Drilling advanced at an average of approximately 86 metres per day, ahead of the planned schedule. Core logging, sampling and sawing are complete or advancing for all holes, and samples are being sent for chemical analysis on a continuing basis. Visual observations and core logging are preliminary in nature and are not a substitute for assay results, which are pending.

Resource extension drilling under way

The drill has mobilized directly to the next phase of the campaign, which comprises up to 36 holes totalling approximately 4,000 metres in three components:

• Extension drilling a minimum of 100 metres beyond each end of the currently defined TG zone, for a minimum of 200 metres of additional strike length, where the zone remains open along strike and at depth;
• Success at both ends of the zone would extend the TG zone from approximately 700 metres to a minimum of approximately 900 metres of strike length;
• Delineation drilling within the current footprint to increase geological confidence ahead of a future update of the mineral resource estimate;
• Exploration drilling toward the Discovery area, located about 1,125 m southwest of the TG zone.

Toward the Discovery area

Following the extension program, exploration holes will test the corridor between the TG zone and the Discovery area. Together, these targets cover a prospective footprint of approximately 1.5 kilometres, and results from this third phase are intended to define the scale of the mineralized system beyond the current TG zone.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Eric Kinnan, PGeo (OGQ No. 00788), an independent consulting geologist and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Kinnan has reviewed the data disclosed herein and has verified the information through examination of the project database, geological records, assay certificates, and applicable QA/QC (quality assurance/quality control) protocols and procedures.

About Scandium Canada Ltd.

Scandium Canada is a critical minerals mining and advanced materials company developing North America's only primary source of scandium at its Crater Lake project in Nunavik, Que. Through Scalium+, its wholly owned commercialization subsidiary, the company brings proprietary, patent-pending aluminum-scandium (Al-Sc) alloys and the Scalium line of alloys and technologies to market today, while advancing the Crater Lake mining project for the future. This dual-engine strategy positions Scandium Canada to anchor a secure North American scandium supply chain and to shape the future of lighter, stronger and longer-lasting materials for advanced manufacturing end users, while committing itself to building a more responsible economy through innovation and agility.

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