SCANDIUM CANADA SECURES FEDERAL GOVERNMENT SUPPORT OF UP TO $6.9M FOR ITS CRATER LAKE PROJECT Scandium Canada is proud to advance Canada's leadership in critical minerals on the world stage with North America’s largest primary source of scandium and
March 2, 2026
SCANDIUM CANADA SECURES FEDERAL GOVERNMENT SUPPORT OF UP
TO $6.9M FOR ITS CRATER LAKE PROJECT
Scandium Canada is proud to advance Canada's leadership in critical minerals
on the world stage with North America’s largest primary source of scandium and
proprietary aluminum-scandium (Al-Sc) alloys
MONTREAL, QUEBEC – Scandium Canada Ltd. (TSX-V: SCD) (the “Company”) is pleased to
announce that it has signed a non-refundable contribution agreement of up to $6,915,478 under
Natural Resources Canada’s Global Partnerships Initiative ("GPI") for the Company's Crater Lake
scandium and rare earth elements project in Québec and its proprietary Al-Sc alloys. The
agreement was announced at the world's premier mining convention, PDAC 2026, by The
Honourable Tim Hodgson, Minister of Energy and Natural Resources, and Guy Bourassa, Chief
Executive Officer of Scandium Canada, marking a defining moment for the G7 Critical Minerals
Production Alliance, led by Canada on the global stage.
This federal support reflects the exceptional strategic value of the Crater Lake project, its
proprietary Al-Sc alloys and the strength of the Company's scientific expertise and international
partnerships.
The GPI contribution represents 69% of the project costs presented and will be used to scale up
the company’s patent-pending processes for the benef iciation, extraction, and purification of
scandium and rare earth elements (REEs) through mineral processing test work and by
progressing to FEL-3 engineering standards, completing detailed design and specifications, and
developing a comprehensive cost estimate and execution schedule. Additionally, the project will
carry out applied research with end users to optimize aluminium-scandium alloys products.
International partnerships
This federal support unlocks immediate value for the Company's strategic partners, without waiting
for the Crater Lake mine to reach full production, through its Scandium+ division:
- Gränges Powder Metallurgy ("GPM"): Further to the Memorandum of Understanding
signed with Gränges Powder Metallurgy ("GPM") in November 2025, Scandium Canada
continues to advance the integration of its proprietary scandium-modified AA535 and
AA7075 alloys into GPM's product offering without waiting for the Crater Lake mine to
reach full production. GPM, a wholly owned subsidiary of the global aluminum technology
company Gränges Group, is a global supplier of spray-formed aluminum products and
aluminum powders for additive manufacturing, and this collaboration brings to the world
stage a compelling technological breakthrough in high-performance, scandium-enhanced
alloys.
- A second partner stands to benefit directly from Scandium Canada's specialized
metallurgical knowledge for the recovery of scandium from polymetallic deposits.
Scandium, being notoriously difficult to separate and purify from co-occurring nickel and
cobalt mineralization, is a challenge that Scandium Canada's team is uniquely positioned
to solve. This collaboration extends the reach of Canadian scientific expertise into
international mining operations, creating value for both parties well ahead of Crater Lake's
production timeline.
- Finally, a third partner represents a natural strategic fit as Scandium Canada advances
toward production. Both organizations share a commitment to building resilient, non-
Chinese supply chains for critical minerals, and this partnership lays the groundwork for
deeper collaboration as the Crater Lake project matures.
"It is a privilege to be among the few Canadian companies selected under the GPI, a recognition
that speaks directly to the strategic importance of Crater Lake as North America's largest primary
source of scandium as well as our important developments of Al-Sc alloys amenable to 3D printing
and advanced manufacturing in particular. NRCan's s upport is a crucial milestone that provides
non-dilutive funding through 2028, allowing our team to focus entirely on execution.” declared
Guy Bourassa, Chief Executive Officer, Scandium Canada. “Together with our international
partners, we will accelerate the development of Crater Lake while continuing to advance our
Scandium+ alloy commercialization efforts, demonstrating to the world that Canada is a reliable,
world-class supplier of the critical materials our allies can depend on, supported by highly
competent technical people."
“Canada and our partners are putting real capital behind the secure and sustainable critical
mineral supply chains that our economies and defence industries rely on,” said the Honourable
Tim Hodgson, Minister of Energy and Natural Resources. “By working with companies like
Scandium Canada, we are helping deliver the minerals the world needs and the prosperity and
security Canadians deserve.”
ABOUT THE GLOBAL PARTNERSHIPS INITIATIVE
The Global Partnerships Initiative is a Natural Resources Canada program designed to support
the development of critical minerals projects in Canada. The GPI program aims to strengthen
domestic supply chains and advance Canada's position as a reliable supplier of critical minerals
to global markets, particularly to allied nations seeking to reduce dependency on foreign sources.
ABOUT SCANDIUM CANADA LTD.
Scandium Canada (TSX-V: SCD) is a public company whose ultimate goal is to bring the world's
leading primary source of scandium into production, enabling the development and
commercialization of aluminum-scandium (Al-Sc) alloys. The Corporation is leveraging its Al-Sc
alloy development subsidiary and the development of its Crater Lake mining project to meet the
growing need for lighter, greener, longer-lasting, high-performance materials. The Corporation
aims to become a market leader in scandium, while committing itself to building a more
responsible economy through innovation and agility.
FORWARD-LOOKING STATEMENTS
All statements in this press release including the paragraph “About Scandium Canada Ltd.” above,
which essentially describes the Company's prospects, constitute “forward-looking information” or
“forward-looking statements” within the meaning of applicable securities laws and are based on
expectations, estimates, and projections made as of the date of this press release.
Forward-looking statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by the Corporation 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 Corporation’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 Corporation 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.
For additional information, please contact :
Scandium Canada Ltd.
Guy Bourassa
Chief Executive Officer
Phone: +1 (418) 580-2320
Email: [email protected]
Website: www.scandium-canada.com
LinkedIn: Scandium Canada Ltd.
X: @ScandiumCanada
Facebook: Scandium Canada
Instagram: @scandiumcanada