Scandium Canada Ltd. (TSX-V: SCD) provided an update on its activities, including the qualification and commercialization of its proprietary aluminum-scandium (Al-Sc) alloys, the 2026 field program at its Crater Lake scandium project in Nunavik, Quebec, and the filing of its financial report for the third quarter ended May 31, 2026.
The Company's alloy strategy advanced on four fronts: promising preliminary results from its SC7075 Al-Sc welding wire, expanding commercial opportunities with Granges Powder Metallurgy, advancing discussions with Alpomet on welding-wire applications, and the acquisition of Scalium+ (formerly Ferreol Technologies). Wire samples of the patent-pending SC7075 alloy were shipped to a collaborator for Wire Arc Additive Manufacturing (WAAM) trials. Preliminary results showed the wire could produce structures comparably to commercial wire without scandium; work now focuses on optimizing deposition parameters. This application alone could generate demand of up to 30 tonnes per year of scandium oxide, a market segment that does not currently exist. Rods of the SC535 alloy also show promise in high-temperature applications.
Work under the Memorandum of Understanding with Granges Powder Metallurgy is expanding to cover powders and plates, with commercial opportunities identified in energy and defence with European OEMs. Discussions with Alpomet on welding-wire applications are actively advancing. On June 29, 2026, the Company closed the acquisition of Ferreol Technologies, now Scalium+ Inc., its wholly owned alloy commercialization subsidiary. Scalium+ brings an established Quebec City commercial team, active alloy clients, and a proven production workflow, consolidating the commercialization of the Company's Al-Sc alloys and the Scalium® line. Some Scalium® alloys demonstrated strength results up to 45% higher than typical AA7075 aerospace aluminum under controlled conditions.
Luc Duchesne, Ph.D., Chief Science Officer of Scalium+, noted that preliminary results are promising and that the integration with Scalium+ permits a larger offering of 7000-series aluminum-scandium material. Felix Lapointe, CEO of Scalium+, emphasized the priority of serving existing clients while opening the order book to Scandium Canada's alloys.
The Company also announced the filing of its Q3 financial statements. As of May 31, 2026, cash stood at $11.6 million, a twenty-nine-fold increase from $0.4 million at August 31, 2025. Working capital was $15.2 million, a $16.6 million swing from negative working capital, with total assets of $31.9 million and total equity of $30.2 million. All unsecured loans were repaid. The expansion was funded by equity, including a $17.25 million bought deal in March 2026. Management believes the funds are sufficient for at least the next twelve months.
Guy Bourassa, CEO of Scandium Canada, stated that the Company is executing its plan: the drill is turning at Crater Lake, SC7075 wire shows promising results, and the Scalium+ subsidiary gives a commercial team selling alloys today. With $11.6 million in cash and the strongest balance sheet in history, the Company is funded for the catalysts ahead.
The 2026 diamond drilling campaign at Crater Lake, announced on June 11, 2026, is advancing on schedule under Laurentia Exploration. The program is primarily collecting a representative metallurgical bulk sample of 8 to 10 tonnes for future feasibility study testwork. WSP's environmental assessment work is proceeding, with field teams conducting fauna and flora inventories, fish habitat surveys, and hydrogeological and geochemical studies for the prefeasibility study. No injuries or operational incidents have been reported.
Eric Kinnan, P.Geo., an independent Qualified Person, has reviewed and approved the scientific and technical information in this release.
Scandium Canada is a critical minerals mining and advanced materials company developing North America's only primary scandium source at Crater Lake. Through Scalium+, it brings proprietary Al-Sc alloys and the Scalium® line to market. This dual-engine strategy aims to anchor a secure North American scandium supply chain. More information is available on the Company's website at www.scandium-canada.com and financial reports on SEDAR+ at www.sedarplus.ca.
