Scandium Canada Ltd. (TSX-V: SCD) provided an update on 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 reported promising preliminary results from its SC7075 Al-Sc welding wire, advancing commercial discussions with partners, and a record balance sheet with $15.2 million in working capital.
Wire samples of the patent-pending modified SC7075 alloy have been shipped to a collaborator for Wire Arc Additive Manufacturing (WAAM) trials. Preliminary results are promising as the wire demonstrated the ability to produce structures comparably to a 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 Company’s SC535 alloy also show promise in high-temperature applications.
Work under the Memorandum of Understanding with Granges Powder Metallurgy is expanding, now covering powders and plates, with a number of commercial opportunities identified, notably in energy and in defence with European OEMs. Discussions with Alpomet on welding-wire applications are actively advancing, signaling that industrial users want qualified, weldable, high-strength aluminum wire.
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 of the Scalium® line. One Scalium® alloy is already commercialized, and based on internal testing under controlled conditions, some Scalium® alloys demonstrated strength results up to 45% higher than typical AA7075 aerospace aluminum.
Luc Duchesne, Ph.D., Chief Science Officer of Scalium+, commented: “Our preliminary results are promising: we have demonstrated that we can produce structures by WAAM with our SC7075 wire. Next, we aim to optimize deposition parameters with our collaborator, while our work with Granges and our discussions with Alpomet continue to identify prototyping opportunities.” Felix Lapointe, CEO of Scalium+, added: “Two weeks in, the priority is simple: keep serving our existing alloy clients while opening the order book to the alloys developed by Scandium Canada.”
The Company also announced the filing of its interim financial statements and management’s discussion and analysis for the three-month and nine-month periods ended May 31, 2026, available on SEDAR+ and at scandium-canada.com/financial-reports/. 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 reached $15.2 million, a $16.6 million swing from negative working capital. Total assets of $31.9 million and total equity of $30.2 million more than doubled from August 31, 2025 levels, while total liabilities were reduced to $1.6 million, with all unsecured loans repaid in full.
Guy Bourassa, CEO of Scandium Canada, commented: “At the midpoint of the field season, the Company is executing the plan presented to shareholders in April: the drill is turning at Crater Lake, our SC7075 wire is showing promising results for structures produced by WAAM, and our newly acquired Scalium+ subsidiary gives us a commercial team selling alloys today. With $11.6 million in cash and the strongest balance sheet in our history, we are funded for the catalysts ahead.”
The 2026 diamond drilling campaign at Crater Lake is advancing on schedule under the management of Laurentia Exploration. The program is primarily dedicated to collecting a representative metallurgical bulk sample of 8 to 10 tonnes, a key input for metallurgical testwork supporting the future feasibility study. In parallel, WSP’s environmental assessment work is proceeding with field teams on site conducting fauna and flora inventories, fish habitat surveys, and hydrogeological and geochemical studies in support of the prefeasibility study. Field operations have been conducted without any reported injuries or operational incidents.
The scientific and technical information has been reviewed and approved by Eric Kinnan, P.Geo., an independent consulting geologist and a Qualified Person as defined by National Instrument 43-101.
