Scandium Canada identifies new potential mineralized zone east of the TG deposit, Nunavik, Québec

Scandium Canada Ltd. [TSXV: SCD] reported the discovery of a new zone of ferrosyenite, the same rock type as the current TG deposit resource, at its Crater Lake scandium project in Nunavik, Québec. The zone, identified by drilling over a 500-metre portion of a previously untested magnetic anomaly corridor over 750 metres long, is located East of the TG deposit (East Zone” in an area that had not been drilled before.

The holes initially designed to test the TG deposit at depth, beneath the current MRE-2025 block model, were redesigned to drill through a 500m portion of the 750-metre long MAG anomaly corridor parallel to the TG deposit located within the existing 2025 pit design. The first of them intersected a zone of ferrosyenite that was unknown until now. A total of 6 holes have systematically intersected it near the surface so far.

Assay results for these six holes have not yet been received. The company cautions that the description of the lithologies in this press release is based on visual observation of the drill core.

Simon Thibault, President and CEO, Scandium Canada and President, Scalium+, commented: “We’re very excited by this discovery, which highlights the broader potential of the Crater Lake property beyond our original exploration objectives! Thanks to the work done by our geologist, as we advance toward an updated Mineral Resource Estimate by year-end 2026, we continue to strengthen the foundation of our strategically important asset. Crater Lake is central to our market-to-mine strategy, positioning Scalium+ with a secure, long-term source of scandium oxide to support the ongoing commercialization of advanced aluminium-scandium alloys.”

The new zone was identified through the company’s historical air and ground MAG survey and defined with the newly acquired high resolution drone-MAG survey. The presence of historically favourable lithologies were confirmed by 6 drill holes located 146 m East of the TG deposit. These holes were initially planned to test the TG deposit at depth and to optimize the MRE 2025 block model. They were later modified to test the new East Zone.

They intersected ferrosyenite lithologies similar to those found within the TG Deposit Resource area of 2025, in an area where no drilling had been done before. Together, the six holes (CL2026109, 110, 112, 113, 114 and 115) outline a ferrosyenite envelope of more than 500 metres long over the 750-metre long East Zone magnetic anomaly that remains open in all directions.

Assay results for the six holes will be reported once received and validated.

Scandium Canada 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.