Scandium Canada Secures Federal Support Of Up To $6.9M For Its Crater Lake Project

Press Release

March 2, 2026

Scandium Canada is proud to advance Canada’s leadership in critical minerals on the world stage with North America’s largest primary source of scandium and proprietary aluminum-scandium (Al-Sc) alloys

MONTREAL, QUEBEC – Scandium Canada Ltd. (TSX-V: SCD) (the “Company”) is pleased to announce that it has signed a non-refundable contribution agreement of up to $6,915,478 under Natural Resources Canada’s Global Partnerships Initiative (“GPI”) for the Company’s Crater Lake scandium and rare earth elements project in Québec and its proprietary Al-Sc alloys. The agreement was announced at the world’s premier mining convention, PDAC 2026, by The Honourable Tim Hodgson, Minister of Energy and Natural Resources, and Guy Bourassa, Chief Executive Officer of Scandium Canada, marking a defining moment for the G7 Critical Minerals Production Alliance, led by Canada on the global stage.

This federal support reflects the exceptional strategic value of the Crater Lake project, its proprietary Al-Sc alloys and the strength of the Company’s scientific expertise and international partnerships.

The GPI contribution represents 69% of the project costs presented and will be used to scale up the company’s patent-pending processes for the beneficiation, extraction, and purification of scandium and rare earth elements (REEs) through mineral processing test work and by progressing to FEL-3 engineering standards, completing detailed design and specifications, and developing a comprehensive cost estimate and execution schedule. Additionally, the project will carry out applied research with end users to optimize aluminium-scandium alloys products.

International partnerships

This federal support unlocks immediate value for the Company’s strategic partners, without waiting for the Crater Lake mine to reach full production, through its Scandium+ division:

• – Gränges Powder Metallurgy (“GPM”):  Further to the Memorandum of Understanding signed with Gränges Powder Metallurgy (“GPM”) in November 2025, Scandium Canada continues to advance the integration of its proprietary scandium-modified AA535 and AA7075 alloys into GPM’s product offering without waiting for the Crater Lake mine to reach full production. GPM, a wholly owned subsidiary of the global aluminum technology company Gränges Group, is a global supplier of spray-formed aluminum products and aluminum powders for additive manufacturing, and this collaboration brings to the world stage a compelling technological breakthrough in high-performance, scandium-enhanced alloys.

• – A second partner stands to benefit directly from Scandium Canada’s specialized metallurgical knowledge for the recovery of scandium from polymetallic deposits. Scandium, being notoriously difficult to separate and purify from co-occurring nickel and cobalt mineralization, is a challenge that Scandium Canada’s team is uniquely positioned to solve. This collaboration extends the reach of Canadian scientific expertise into international mining operations, creating value for both parties well ahead of Crater Lake’s production timeline.

• – Finally, a third partner represents a natural strategic fit as Scandium Canada advances toward production. Both organizations share a commitment to building resilient, non-Chinese supply chains for critical minerals, and this partnership lays the groundwork for deeper collaboration as the Crater Lake project matures.

“It is a privilege to be among the few Canadian companies selected under the GPI, a recognition that speaks directly to the strategic importance of Crater Lake as North America’s largest primary source of scandium as well as our important developments of Al-Sc alloys amenable to 3D printing and advanced manufacturing in particular. NRCan’s support is a crucial milestone that provides non-dilutive funding through 2028, allowing our team to focus entirely on execution.” declared Guy Bourassa, Chief Executive Officer, Scandium Canada. “Together with our international partners, we will accelerate the development of Crater Lake while continuing to advance our Scandium+ alloy commercialization efforts, demonstrating to the world that Canada is a reliable, world-class supplier of the critical materials our allies can depend on, supported by highly competent technical people.”

“Canada and our partners are putting real capital behind the secure and sustainable critical mineral supply chains that our economies and defence industries rely on,” said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. “By working with companies like Scandium Canada, we are helping deliver the minerals the world needs and the prosperity and security Canadians deserve.”

ABOUT THE GLOBAL PARTNERSHIPS INITIATIVE

The Global Partnerships Initiative is a Natural Resources Canada program
designed to support the development of critical minerals projects in Canada.
The GPI program aims to strengthen domestic supply chains and advance Canada’s
position as a reliable supplier of critical minerals to global markets,
particularly to allied nations seeking to reduce dependency on foreign sources.

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 alloys 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 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 LinkedIn: Scandium Canada Ltd. X: @ScandiumCanada Facebook: Scandium Canada Instagram: @scandiumcanada

IBF4