Scandium Canada names Simon Thibault president and CEO

Large-scale mining and manufacturing projects leader appointed in planned succession; Guy Bourassa to support the transition as Director and Strategic Advisor to Management.

Montréal, Québec--(Newsfile Corp. - August 24, 2026) - Scandium Canada Ltd. (TSXV: SCD) (the "Company") is pleased to announce that its Board of Directors has appointed Simon Thibault as President and Chief Executive Officer of Scandium Canada and President of Scalium+, the Company's wholly owned advanced alloys and technologies subsidiary, effective Monday, August 24, 2026.

The appointment concludes a planned succession process as the Company enters its next phase of development. Guy Bourassa, the Company's Chief Executive Officer since 2024, will continue to serve on the Board of Directors and take on the role of Strategic Advisor to Management to continue advancing projects related to Crater Lake.

A detailed video message from Guy Bourassa, Simon Thibault and Félix Lapointe is available now on the Company's YouTube channel: https://youtu.be/Y3o59OwKmWI .

A leader with vast experience in mining and manufacturing

Simon Thibault joins Scandium Canada from General Motors, where he has served since 2023 as EV Critical Materials Leader within the Global Purchasing and Supply Chain organization, supporting the sourcing of critical materials for GM's electric vehicle and energy storage programs and the development of a resilient North American supply chain. With 20 years of experience across the mining, critical materials, battery materials, and automotive sectors, he brings a unique combination of operational, policy, sustainability, and supply chain expertise. His career also includes leadership roles at Nemaska Lithium, Investissement Québec, and Propulsion Québec, where he worked with industry and government stakeholders to advance the development of Québec's battery ecosystem and strengthen North America's critical minerals value chain.

From left to right: Félix Lapointe (CEO, Scalium+), Simon Thibault (President and CEO, Scandium Canada and President, Scalium+), and Guy Bourassa (Director and Strategic Advisor to Management, Scandium Canada)

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Quotes

"On behalf of the Board, I would like to welcome and congratulate Simon on his appointment as President and CEO of Scandium Canada, and President of Scalium+. Simon brings a unique combination of experience across mining, critical materials, government and the automotive sector, including first-hand knowledge of what major manufacturers require from their critical-material suppliers. As we continue to advance Crater Lake and accelerate the commercialization of our aluminum-scandium alloys through Scalium+, we believe Simon has the experience, relationships and perspective to lead Scandium Canada through this important next stage of its development. I would also like to sincerely thank Guy for his leadership and significant contributions to the Company and am very pleased that we will continue to benefit from his experience as a director and strategic advisor to management," said Jeff Swinoga, Chair of the Board of Directors, Scandium Canada.

"When I joined Scandium Canada in 2024, we set out a long-term vision. We built something solid, and now it is time for Scandium Canada to become greater. That means bringing in the right people at the right time, and Simon is exactly that person. I will personally set him and the team up for success, as I remain a director, a strategic advisor to management, and a dedicated shareholder. Building this company to where it is today, with Scalium+ now part of the group and the Naskapi Nation as a shareholder, is one of the great prides of my career, and I look forward to supporting Simon and the team through this transition," said Guy Bourassa, Director and Strategic Advisor to Management, Scandium Canada.

"Having spent years securing critical materials for large-scale manufacturing, I've learned that success depends on three things: a product that meets market requirements, a clear path to adoption, and a compelling value proposition. What sets Scandium Canada apart is that it is not starting with a mine and searching for a market. Through Scalium+, the Company already has aluminum-scandium (Al-Sc) alloy products, customers, and an active qualification pipeline. Combined with the Crater Lake Project, a primary scandium asset in the stable jurisdiction that is Québec, and the Naskapi Nation's participation as a shareholder, the Company has assembled a uniquely differentiated platform to build an integrated scandium supply chain from resource to end-use applications. That combination of commercial readiness, strategic assets, and strong partnerships is what convinced me to join Scandium Canada, and I look forward to helping execute the next phase of growth," said Simon Thibault, President and Chief Executive Officer, Scandium Canada and President, Scalium+.

"Since joining Scandium Canada in June, we have been hard at work accelerating the commercialization of our aluminum-scandium alloys. With scandium, aluminum gets stronger, easier to weld and faster to print, which is exactly what the aerospace, defence, automotive and additive manufacturing end users are looking for. Our patent-pending alloys are being developed with many public and private collaborators, and each qualified alloy brings us closer to major OEMs. Simon's valuable experience in manufacturing will be a powerful amplifier for what we are building," said Félix Lapointe, Chief Executive Officer, Scalium+.

Management and continuity

Pierre Neatby has resigned from the Board of Directors and from his role as President and Chief Operating Officer, effective August 21, 2026, to pursue other opportunities. The Board wishes to thank Mr. Neatby for his contribution, as President and Chief Operating Officer, to the advancement of the Crater Lake project.

Stock Option Grant

The Company also announces that its Board of Directors has granted to Mr. Simon Thibault, as President and Chief Executive Officer, an aggregate of 3,000,000 options to purchase common shares of the Company (the "Stock Options") at an exercise price of $0.22 for a period of five (5) years from the date of grant, which ends on August 21, 2031.

The Stock Options vest in accordance with the following schedule: 1/36 (approximately 2.78%) vests monthly starting on the last day of the month following August 21, 2026.

The grant remains subject to the approval of the TSX Venture Exchange.

About Scandium Canada Ltd.

Scandium Canada (TSXV: SCD) is a critical advanced materials company developing North America's only vertically integrated primary source of scandium, from its Crater Lake project in Nunavik, Québec, to aluminum-scandium (Al-Sc) alloy products. Through Scalium+, its wholly owned commercialization subsidiary, the Company brings proprietary, patent-pending 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, resilient 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.

About Scalium+

Scalium+, formerly Ferreol Technologies, is Scandium Canada's wholly owned commercialization subsidiary for aluminum-scandium (Al-Sc) alloys. It unites the alloys developed by the Company's Scandium+ division with the Scalium® line of alloys and surface treatment created by the Ferreol Technologies team. Scalium® alloys add value on multiple fronts: significantly higher mechanical strength than conventional alloys in rolled products, better weldability in wire form, faster print speeds in powder form, and much higher corrosion resistance. For manufacturers, this translates into lighter parts, shorter build times in additive manufacturing and better lifetime value for primary and secondary components. Scalium+ brings these specialized materials to market today, across multiple sectors.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including, without limitation, statements regarding the Company's next phase of development, the anticipated contributions and roles of Mr. Thibault and Mr. Bourassa, the advancement of the Crater Lake project, the qualification and commercialization of the Company's aluminum-scandium alloys through Scalium+, the development of an integrated scandium supply chain from resource to end-use applications, the grant of the Stock Options and the receipt of the final approval of the TSX Venture Exchange, and, generally, the above "About Scandium Canada Ltd." paragraph which essentially describes the Company's outlook.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca .

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's endeavors to develop the Crater Lake project, and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statement or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311018

TMX Newsfile

August 24, 2026 - 4:00 AM PDT

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