Scandium Canada Secures Full Funding for 2026 Work Program Following Strong Shareholder Support

Scandium Canada Ltd. announced strong shareholder support at its Annual General and Special Meeting held on April 21, 2026, with all resolutions approved by significant majorities. The company's slate of six directors received unanimous 100% support, demonstrating confidence in management as the company moves forward with a fully funded twelve-month work program. With approximately $15 million in cash and $6.9 million in confirmed non-dilutive funding from the Canadian government, Scandium Canada has allocated resources against three defined catalysts for 2026.

The financial position stems from an oversubscribed public offering on March 17, 2026, that raised $17,250,046, exceeding initial targets, and a federal grant of $6,915,478 secured on March 2, 2026, under Natural Resources Canada's Global Partnerships Initiative. This funding supports workstreams including the qualification of two proprietary aluminum-scandium alloys, completion of an independent Preliminary Feasibility Study on the TG zone at Crater Lake, and a $5 million drilling campaign. The company emphasizes that every dollar is allocated against these specific catalysts, with no additional financing required for the 2026 program.

The first workstream involves qualifying aluminum-scandium alloys supplied as powders for L-PBF 3D printing and wires for welding and Wire Arc Additive Manufacturing applications. This qualification campaign is underway with industrial partners, with milestones to be communicated throughout 2026. The second workstream features a Preliminary Feasibility Study led by Norda Stelo, targeting completion by summer 2026 and integrating mineral resource, mine plan, processing, and cost parameters. The third workstream consists of a drilling campaign on the Crater Lake property designed to recover a representative sample for metallurgical testwork scheduled for early 2027.

Chief Executive Officer Guy Bourassa stated that the company's focus for 2026 is execution, with funding securely in place for these initiatives. The shareholder meeting results included the re-appointment of Raymond Chabot Grant Thornton as auditor with 99.98% approval and approval of the Share Option Plan and Restricted Share Unit Plan with 93.03% and 94.83% support respectively. The company's financial disclosures and forward-looking statements are available on the SEDAR+ website at https://www.sedarplus.ca. This funding and strategic focus position Scandium Canada to advance its scandium production goals and alloy development efforts throughout the coming year.