Scandium International Mining Announces Scandium Investments LLC to Exercise Warrants Early and Updated Timing on Refreshed Definitive Feasibility Study for Nyngan Scandium Project

(TSXV:SCY) Scandium International Mining Corp. announced that Scandium Investments LLC, the Company's largest shareholder, has exercised 7,202,222 warrants for total proceeds of approximately C$774,238. The warrants were exercised ahead of their scheduled expiration in the second quarter of 2027. The Company stated that this early warrant exercise is one of the first steps alongside the refreshed Definitive Feasibility Study for the Nyngan Scandium Project. Due to a delay with a subcontractor, the updated timeline for completing the refreshed Definitive Feasibility Study is now the first quarter of 2027. Peter Evensen, Chief Executive Officer of Scandium International Mining, commented that the warrant exercise reflects the positive outlook for the Company and that demand growth in the western world for scandium is accelerating across multiple use cases. He also stated that the Company believes the time to come out of hibernation is now. The Nyngan Scandium Project is described as one of only two primary scandium projects in NSW with both a mining license and development consent. The Company is advancing the Nyngan Scandium Project to a Final Investment Decision as expeditiously as possible. The information in the news release has been reviewed and approved by John Thompson, BE, FAusIMM, Vice-President of Project Development, who is a Qualified Person as defined in National Instrument 43-101. The Company highlighted that the Nyngan project is a critical part of a resilient western world supply solution for the growing scandium market in the next decade. The Company has been involved in commercial and technical discussions with commercial and government parties regarding scandium demand. Peter Evensen has been involved with the Company since 2014. The Company’s largest shareholder, Scandium Investments LLC, includes Peter Evensen. The Company’s warrant exercise and project advancement are positioned as responses to accelerating scandium demand.

Scandium International Mining Initiates an Update of Its Definitive Feasibility Study at Nyngan Scandium Project

(TSXV: SCY) Scandium International Mining Corp. announced that its wholly-owned subsidiary, EMC Metals Australia Pty Ltd, has initiated an update of the Definitive Feasibility Study (DFS) for the Nyngan Scandium Project in New South Wales. The DFS update will be undertaken by Lycopodium Limited, headquartered in Perth, Australia, who completed the original DFS in 2016. The project is designed as a small surface mining operation recovering approximately 75,000t of limonite ore from the resource per year, with an average limonite scandium head grade to the mill facility over 20 years of 409ppm. The project includes a one-year construction period and a total 24-month ramp-up period to reach nameplate capacity of 75,000 tonnes per year ore throughput and approximately 38,500 kg of scandium oxide product per year, grading 98 to 99.9% Sc₂O₃. The DFS provides a 20-year mine life at nameplate capacity, using less than 20% of the total Mineral Resource Estimate. The company is fully funded to complete the DFS update, marking an important milestone on the path toward construction and eventual production. The company projects that the Nyngan Scandium Project is prepared to meet western demand for scandium in existing applications and emerging uses under development including semiconductors, solid-state batteries, and defense applications.