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

About this update from Scandium International Mining Corp.

Reno, Nevada--(Newsfile Corp. - June 16, 2026) - Scandium International Mining Corp. (TSXV: SCY) (OTC Pink: SCYYF) ("Scandium International" or the "Company") is pleased to announce that Scandium International's wholly-owned subsidiary, EMC Metals Australia Pty Ltd ("EMC") has initiated an update of the Definitive Feasibility Study ("DFS") titled "Feasibility Study - Nyngan Scandium Project", dated May 4, 2016, at its 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 and will reflect capital and operational efficiencies as well as potential to high-grade and customer requirements. "We are very pleased to have initiated an update of the Definitive Feasibility Study for the Nyngan Scandium Project after the announcement of the grant of the Mining License in October 2025," said Peter Evensen, Chief Executive Officer. "We look forward to working with Lycopodium as we continue to develop the Nyngan Scandium project. The company is fully funded to complete the DFS update, marking an important milestone on the path toward construction and eventual production, consistent with the Project's design parameters." The update of the DFS will update the capital and operating costs and will not change the basic parameters of the existing DFS, which remain positive: Mr. Evensen continued: "The benefits of scandium have been known for several years; however, until now there has not been a reliable and abundant potential supply source of scandium outside of China and Russia or dependent on other commodity prices as a by-product. The Western world has made it a strategic priority to develop robust critical mineral supply chains that are not dependent on a single nation as a pinch point. The shovel-ready 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." The information in this news release has been reviewed and approved by John Thompson, BE, FAusIMM, Vice-President of Project Development, who is a Qualified Person as that term is defined in National Instrument 43-101. For inquiries to Scandium International Min...

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