Scandium Canada Intersects 124.9 m at 232 ppm Scandium Oxide at Crater Lake and Identifies a Favourable Corridor of Nearly 3 km

HIGHLIGHTS

First drill assay results from the 2026 Crater Lake drilling program confirm TG deposit grade intersected as shallow as 7.3 m downhole;

A new high-density, low-altitude drone magnetic survey has identified a magnetic corridor running close to 5 km, from the south of the STG zone to the northern limit of the TG deposit. About 3 km of that corridor runs from the southern limit of the Discovery Area to the north of the TG deposit;

An updated mineral resource estimate is targeted for before the end of 2026, which will be the base of a Preliminary Economic Assessment (PEA)

Montréal, Québec--(Newsfile Corp. - August 26, 2026) - Scandium Canada Ltd. (TSXV: SCD) (the "Company") is pleased to announce the first assay results from the 2026 diamond drilling program at its Crater Lake scandium project in Nunavik, Québec.

The Company has received the assay results for the samples from the first drill holes collared to extract a bulk sample from the TG deposit. Every hole drilled for that purpose and reported to date intersected the targeted lithologies and mineralization, namely scandium-bearing olivine-rich or pyroxene-rich ferrosyenites, at grades consistent with those of the mineral resource estimate (MRE 2025) of the TG deposit.

The Company also completed a new high-density, low-altitude drone magnetic survey this summer, which produced a very high-resolution map of the geophysical anomalies. The map sharpens the geophysical delineation of the host lithological corridors favorable to scandium (Sc) mineralization over close to 5 km, from the south of the STG zone to the northern limit of the TG deposit.

Three kilometers of that distance run from the southern limit of the Discovery Area through the TG deposit and its southern and northern extensions. The survey also identified new exploration targets and improved the targeting of