Scandium International Mining Announces Closing of Third and Final Tranche of Non-Brokered Private Placement

NEWS RELEASE

TSX: SCY

June 15, 2022

NR 22-05

www.scandiummining.com

SCANDIUM INTERNATIONAL MINING

ANNOUNCES CLOSING OF THIRD AND FINAL

TRANCHE OF NON-BROKERED PRIVATE

PLACEMENT

Reno, Nevada, June 15, 2022 – Scandium International Mining Corp . (TSX:SCY) (“Scandium

International” or the “Company” ) is pleased to announce the closing of the third and final

tranche of the Company’s private placement first announced on April 19, 2022 (the “Offering”).

Within the third tranche, the Company raised aggregate gross proceeds of C$287,190 through

the sale of 3,190,999 units (each, a “Unit”). When aggregated with the first and second tranche

closings previously announced , the Company has raised aggregate gross proceeds of C$

C$3,402,290 through the sale of 37,803,218 units at a price of C$0.09 per Unit.

The aggregate proceeds exceed the C$3,000,000 placement amount originally announced to the

market.

Each Unit consists of one common share of the Compa ny (a “Common Share”) and one share

purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire a Common Share

at C$0.1075 for sixty (60) months until June 14, 2027.

The net proceeds from the sale of the Units will be used towards the maintenance of the

Company’s scandium minerals properties and for general and administrative expenses. The

Offering is conditional upon receipt of required regulatory approvals, including the approval of the

TSX.

The securities issued and issuable pursuant to the Offering will be subject to a four month

statutory hold period in accordance with appli cable Canadian securities laws. The securities will

also be subject to restrictions under U.S. securities laws, which generally restrict any resales for

a period of six months.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States of America. The securities have not been and will not be registered

under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and

may not be offered or sold within the United States or to U.S . Persons (as defined in the 1933

Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption

from such registration is available.

For inquiries to Scandium International Mining Corp, please contact:

Peter Evensen (CEO)

Tel: (702) 703-0178

Harry de Jonge (Comptroller)

Tel: (702) 703-0178

Email: [email protected]

This press release contains forward-looking statements about the Company and its business. Forward

looking statements are statements that are not historical facts and include but are not limited to

statements regarding the Offering, the use of proceeds, and closing of the final tranche of the Offering.

The forward-looking statements in this press release are subject to various risks, uncertainties and

other factors that could cause the Company's actual results or achievements to differ materially from

those expressed in or implied by forward looking stat ements. Forward-looking statements are based

on the beliefs, opinions and expectations of the Company's management at the time they are made,

and other than as required by applicable securities laws, the Company does not assume any obligation

to update its forward-looking statements if those beliefs, opinions or expectations, or other

circumstances, should change.