Mr. Guy Bourassa reports

SCANDIUM CANADA ANNOUNCES $5 MILLION NON-BROKERED LIFE OFFERING OF CHARITY FLOW-THROUGH UNITS

Scandium Canada Ltd. has arranged a non-brokered private offering under the listed issuer financing exemption of up to 25 million charity flow-through units of the company at a price of 20 cents per charity flow-through unit for aggregate gross proceeds of up to $5-million.

Each charity flow-through unit will consist of one common share of the company and one common share purchase warrant of the company. The FT shares and FT warrants comprising the charity flow-through units will each qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).

Each FT warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of 22 cents per warrant share at any time until the date that is 24 months following the closing of the offering.

The company understands that initial purchasers of charity flow-through units may subsequently donate or resell some or all of the FT shares and FT warrants acquired under the offering as part of charitable flow-through arrangements. The company will have no involvement in any such follow-on transactions, other than registering any required transfers of securities.

The charity flow-through units will be issued in reliance on the listed issuer financing exemption available under Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption) in each of the provinces of Canada. The securities issued under the offering to purchasers resident in Canada are expected to be immediately freely tradable under applicable Canadian securities laws.

The company will use an amount equal to the gross proceeds received from the sale of the charity flow-through units to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as those terms are defined in the ITA and its proposed amendments) related to the company's Crater Lake project in Nunavik, Quebec, as more particularly described in the offering document (as defined below). The qualifying expenditures will be incurred on or before Dec. 31, 2027, and will be renounced to the initial purchasers of the charity flow-through units with an effective date no later than Dec. 31, 2026. The gross proceeds of the offering will be used to finance diamond drilling, exploration campaign and environmental samples collection at the Crater Lake project.

The offering is expected to close on or about Aug. 20, 2026, or such other date as may be determined by the company. Completion of the offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

There is an offering document related to the offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. Prospective investors should read the offering document and other documents filed by the company before making an investment decision.

About Scandium Canada Ltd.

Scandium Canada is a public company whose ultimate goal is to bring the world's leading primary source of scandium into production, enabling the development and commercialization of aluminum-scandium 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.