Scandium Canada Signs Pre-Development Agreement with the Naskapi Nation of Kawawachikamach for its Crater Lake Scandium Project

(TheNewswire)

MONTRÉAL, QUÉBEC – TheNewswire -April 22, 2024 – Scandium CanadaLtd. (the “Company” or "Scandium Canada") (TSXV:SCD);(OTC:SCDCF)is pleased to announce that it has signed aPre-Development Agreement (the “Agreement”) withthe Naskapi Nation of Kawawachikamach (the “Naskapi Nation”)concerning the Company’s Crater Lake scandium and rare earth projectin Québec, Canada (the “Crater Lake Project”).

This Agreement allows for pre-development activities tobe undertaken on the property until a positive feasibility studycompliant to NI 43-101 regulation is completed.

Guy Bourassa, CEO stated, “I am very glad that wehave been able to come to this initial Agreement in a positive andtimely manner, clearly confirming our mutual interest in thedevelopment of the Crater Lake Project in respect of the parties’benefit and coexistence on the territory. We are excited and arelooking forward to the next season of activities at CraterLake”.

The Agreement promotes a mutually respectfulrelationship between Naskapi Nation and Scandium Canada concerning allof the pre-development activities to be carried out on the territoryin relation with the Crater Lake Project. Scandium Canada recognizesthat the Naskapi Nation holds inherent aboriginal rights and treatyrights to and over certain territories within the Company’sProject.

Naskapi Chief Theresa Chemaganish added, “Our Nationhas a long history with mining activity which has left scars on ourland and on our hearts. Until recently, mining exploration wasconducted with minimal respect for our rights, despite the fact thatour ancestors have occupied Nuchimiyuschiiy, our traditionalterritory, for millennia, alongside our Innu, Cree, Inuit and morerecently, non-Indigenous neighbours. The Pre‑Development Agreementbetween the Naskapi Nation and Scandium Canada demonstrates thatreciprocity is a core value and is reflected in their intent toinclude the Naskapi Nation in all steps of the development of theProject, while also offering the Naskapi Nation the opportunity todetermine if the Project will go ahead. That is the true spirit ofpartnership, where both parties plan, decide and benefittogether.” 

The Agreement, which will be added shortly on theCompany’s website, establishes a foundation for collaborativecommunications between the parties to facilitate Scandium Canada’sconsultation with Naskapi Nation to ensure that any exploration andpre‑development activities within Nuchimiyuschiiy are conducted forthe mutual benefit of Naskapi Nation and Scandium Canada, whilerecognizing the importance of the environment and Naskapi traditionalterritory and the associated indigenous and treaty rights of theNaskapi Nation and its members. The Crater Lake scandium and rareearth mine, concentrate transportation and metallurgical processingwill affect the territories of other communities. The Company iscommitted to include all interested parties in discussions concerningits pre-development activities.

The Crater Lake Project is currently one of the largestprimary scandium project in the world. A NI 43-101 compliantPreliminary Economic Assessment (“PEA”) was completedin 2022, a resource estimate update was filed in June 2023 and work tocomplete a pre-feasibility study is underway. The Project is locatedin northern Québec, approximately 200 km Northeast of the town ofSchefferville and 400 km south of Kuujjuaq, Québec, Canada, as shownon the map below.