Scandium Canada closes $5 million charity flow-through offering

Montreal, Quebec--(Newsfile Corp. - August 20, 2026) - Scandium Canada Ltd. (TSXV: SCD) (the " Company ") is pleased to announce the closing of its previously announced non-brokered private offering pursuant to which the Company issued a total of 25,000,000 charity flow-through units of the Company (the " FT Units ") at a price of $0.20 per FT Unit for aggregate gross proceeds to the Company of $5,000,000 (the " Offering ").

The gross proceeds received from the sale of the FT Units will be used by the Company to fund diamond drilling, exploration campaign and environmental samples collection at the Crater Lake Project on or before December 31, 2027, as more particularly described in the Offering Document (as defined below) dated August 18, 2026.

"This additional $5M financing will allow the continuity of the on-going diamond drilling campaign aiming at confirming lateral extensions of the TG deposit of the Crater Lake project. It is important to take advantage of having the drilling equipment and team on site, lowering our costs but more importantly, reflect the upcoming results in an updated mineral resource estimate," commented Guy Bourassa, Chief executive officer.

Each FT Unit is comprised of one common share of the Company (each, an " FT Share ") and one common share purchase warrant of the Company (each, an " FT Warrant "). Each FT Warrant entitles the holder thereof to acquire one common share of the Company (a " Warrant Share ") at an exercise price of $0.22 per Warrant Share at any time from October 20, 2026 to August 20, 2028.

The FT Units were issued in reliance on the listed issuer financing exemption (the " LIFE 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 FT Units offered under the LIFE Exemption to purchasers resident in Canada are not subject to a statutory hold period under applicable Canadian securities laws.

The financing was completed with investors secured by Wealth Creation Preservation & Donation Inc. (WCPD)

There is an offering document related to the Offering (the " Offering Document ") that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.scandium-canada.com .

The closing of the Offering remains subject to the final approval of the final approval of the TSX Venture Exchange (the " TSXV ").

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. "United States" and "U.S. person" have the meaning ascribed to them in Regulation S under the U.S. Securities Act.