Scandium Canada mandates engineering firm Norda Stelo to lead the Pre-Feasibility Study for the Crater Lake project

Press Release

February 6, 2026

MONTREAL, QUEBEC – Scandium Canada Ltd. (TSX-V: SCD) (the “Company”) is pleased to confirm the signing of a service agreement with Québec-based engineering firm Norda Stelo for the completion of the pre-feasibility study (“PFS”) for the Crater Lake project. The timeline for the delivery of the study’s conclusions remains summer 2026, with the final report expected to be released at the end of August 2026.

Norda Stelo will be responsible for the overall completion of the PFS, including the integration of the “Updated Mineral Resource Estimate” NI 43-101 technical report from April 2025. This mandate does not include tasks related to metallurgical processes and recovery, which will be carried out by firms selected by Scandium Canada.

“We are very excited about the progress being made. Thanks to the exercise of warrants since December 1st, we are able to advance the project to another pivotal milestone,” said Guy Bourassa, CEO of Scandium Canada. “The Crater Lake project includes the construction of mining infrastructure with a camp, power generation, and an airstrip, as well as the construction of a hydrometallurgy plant in the Schefferville region. We are also in advanced discussions regarding the analysis of an access road project from Schefferville to the Crater Lake site, which would not be included in the PFS being contemplated.”

ABOUT NORDA STELO INC.

Norda Stelo is a Quebec-based consulting-engineering firm operating in Canada and internationally. It assists public and private organizations in carrying out complex projects related to infrastructure, transportation, natural resources, energy, and manufacturing. Its approach is based on asset sustainability, risk management, and the integration of digital solutions to support informed decision-making in the context of climate and industrial transition. The company has nearly 900 employees.

ABOUT SCANDIUM CANADA LTD.

Scandium Canada (TSX-V: SCD) 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 (Al-Sc) alloys. The Corporation is leveraging its Al-Sc alloy development subsidiary and the development of its Crater Lake mining project to meet the growing need for lighter, greener, longer-lasting, high-performance materials. The Corporation aims to become a market leader in scandium, while committing itself to building a more responsible economy through innovation and agility.

For additional information, please contact :

Scandium Canada Ltd.
Guy Bourassa
Chief Executive Officer

Phone: +1 (418) 580-2320
Email: info@scandium-canada.com
Website: www.scandium-canada.com

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