Montreal, Quebec--(Newsfile Corp. - August 10, 2026) - Scandium Canada Ltd. (TSXV: SCD) (the "Company") is pleased to announce the completion of bulk sample drilling at the TG Zone of its Crater Lake project in Nunavik, Québec, and the immediate launch of the next phases of the 2026 campaign: delineation, extension and exploration drilling aimed at expanding the TG Zone.
Highlights
Resource extension drilling is now underway, targeting a minimum of 200 metres of additional strike length: 100 metres at each end of the currently defined TG zone of approximately 700 metres determined in the 2025 43-101 MRE;
Bulk sample drilling was completed on August 5, 2026: 19 drill holes totaling approximately 3,400 metres, collared along the full strike of the zone to provide a metallurgical sample representative of the TG Zone as a whole;
Mineralized zones were intersected in the bulk sample drill holes; chemical analyses are underway and results will be disclosed as they are received and validated;
The next phases comprise up to 36 additional holes totaling a minimum of 4,000 metres of delineation, extension and exploration drilling, with completion anticipated in 2026 and possibly extending into 2027 depending on seasonal weather and terrain constraints;
Follow-up exploration drilling will test the corridor toward the Discovery Area, extending the prospective footprint from approximately 700 metres today to approximately 1.5 kilometres.
Figure 1: TG Zone, Crater Lake project. Completed bulk sample drill holes, extension and delineation drilling underway at both ends of the zone, and follow-up exploration targets toward the Discovery Area.
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"The first phase delivered exactly what a feasibility study requires: a metallurgical sample collected along the full strike of the TG Zone rather than from a single location. That is what makes it truly representative of the deposit," said Guy Bourassa, Chief Executive Officer of Scandium Canada. "The real excitement starts now. With a minimum of 100 metres of extension on each side of a zone that currently runs approximately 700 metres, we have the potential to grow the TG Zone resource by 20 to 25%. The exploration drilling that will follow, toward the Discovery Area, could ultimately extend the mineralized system to approximately 1.5 kilometres."
"The targeted mineralized zones were intersected in the bulk sample drill holes, and core logging confirmed the geological continuity we anticipated across the zone," commented Eric Kinnan, P.Geo., Qualified Person for the Company under National Instrument 43-101. "Chemical analyses are underway and results will be disclosed as they are received, compiled and validated. The drill has now turned to the delineation and extension holes north and south of the TG Zone."
Bulk Sample Drilling Completed
Between June 26 and August 5, 2026, the Company completed 19 drill holes totaling approximately 3,400 metres at the TG Zone. The holes were collared along approximately 510 metres of strike length, covering the full extent of the currently defined zone, in order to produce a composite sample that reflects the geological variability of the deposit rather than the characteristics of a single location. The recovered mineralized material will support the metallurgical test work required for a future feasibility study.
Drilling advanced at an average of approximately 86 metres per day, ahead of the planned schedule. Core logging, sampling and sawing are complete or advancing for all holes, and samples are being sent for chemical analysis on a continuing basis. Visual observations and core logging are preliminary in nature and are not a substitute for assay results, which are pending.
Resource Extension Drilling Underway
The drill has mobilized directly to the next phase of the campaign, which comprises up to 36 holes totaling approximately 4,000 metres in three components:
Extension drilling a minimum of 100 metres beyond each end of the currently defined TG Zone, for a minimum of 200 metres of additional strike length, where the zone remains open along strike and at depth.
Success at both ends of the zone would extend the TG Zone from approximately 700 metres to a minimum of approximately 900 metres of strike length.
Delineation drilling within the current footprint to increase geological confidence ahead of a future update of the mineral resource estimate.
Exploration drilling toward the Discovery Area, located about 1,125m Southwest of the TG zone as shown in figure 1.
Toward the Discovery Area
Following the extension program, exploration holes will test the corridor between the TG Zone and the Discovery Area. Together, these targets cover a prospective footprint of approximately 1.5 kilometres, and results from this third phase are intended to define the scale of the mineralized system beyond the current TG Zone.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Eric Kinnan, P.Geo. (OGQ No. 00788), an independent consulting geologist and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Kinnan has reviewed the data disclosed herein and has verified the information through examination of the project database, geological records, assay certificates, and applicable QA/QC protocols and procedures.
About Scandium Canada Ltd.
Scandium Canada (TSXV: SCD) is a critical minerals mining and advanced materials company developing North America's only primary source of scandium at its Crater Lake project in Nunavik, Québec. Through Scalium+, its wholly owned commercialization subsidiary, the Company brings proprietary, patent-pending aluminum-scandium (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 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.
Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including, without limitation, statements regarding the completion of bulk sample drilling at the TG Zone and the representativeness of the metallurgical sample collected, the resource extension, delineation and exploration drilling program now underway and its planned number of holes and metreage, the objective of confirming a minimum of 200 metres of additional strike length of the TG Zone, the potential to increase the TG Zone resource by 20 to 25%, the potential to extend the mineralized system to approximately 1.5 kilometres toward the Discovery Area, the timing, receipt and disclosure of assay results, the intended use of the bulk sample material in support of a feasibility study, a future update of the mineral resource estimate, and, generally, the above "About Scandium Canada Ltd." paragraph which essentially describes the Company's outlook. Forward-looking information is based on assumptions and is subject to risks and uncertainties that could cause actual results to differ materially. Although the Company believes the expectations reflected in such information are reasonable, undue reliance should not be placed on it. The Company undertakes no obligation to update forward-looking information except as required by law.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company 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 Company'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 Company 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 more information or interview requests, please contact:
| Scandium Canada Ltd. Arnaud Bourassa Francoeur Director, Communications & Marketing Phone: +1 (418) 609-4900 Email: info@scandium-canada.com | Website: www.scandium-canada.com LinkedIn: Scandium Canada Ltd. X: @ScandiumCanada Facebook: Scandium Canada Instagram: @scandiumcanada |
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Source: Scandium Canada Ltd.
