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e Research is pleased to publish an Industry Report on "Scandium – A Metal for a Green Future; Your Guide to Understanding and Investing in Scandium Companies".

Scandium (Sc) is an important metal with many applications in various industries, particularly in the production of aluminum-scandium (Al-Sc) alloys and solid oxide fuel cells (SOFCs).

Sc is also used in ceramics, electronics, lasers, lighting, and radioactive isotopes.

Sc is on the Critical Minerals list for Australia, Canada, the European Union (EU), and the United States (US), but not the United Kingdom (UK).

REPORT HIGHLIGHTS:
Scandium is a lightweight, soft metal with a high melting point and good electrical and heat conductivity. Scandium is alloyed with aluminum (Al-Sc) similar to how niobium is alloyed with steel.

Scandium increases the strength of aluminum but reduces its weight and provides it with increased flexibility, heat resistance, and corrosion resistance, making it ideal for applications in aerospace, aviation, automotive, defense, and energy transmission.

Sc-Al alloy powders offer the potential for 3D printing of complex metal structures that are difficult or expensive to produce using traditional fabrication methods.

Scandium in Solid Oxide Fuel Cells Scandium plays an important role in enhancing the performance and efficiency of SOFCs, which are devices that convert chemical energy into electrical energy.

SOFCs use hydrogen or hydrocarbon fuels and oxygen to produce electricity, making them suitable for various applications, such as power generation and industrial processes.

Scandium improves SOFC performance by stabilizing zirconia-based electrolyte materials. Scandium also lowers SOFC operating temperatures, thus reducing thermal stress, improving start-up times, and extending lifespan.

Current Supply and Demand The current scandium market indicates that demand is being met by supply, with approximately 20 to 30 tonnes in demand for 2022.

However, if 0.1% of the annual global aluminum production was alloyed with 0.5% scandium, it would result in an annual global scandium demand of 345 tonnes, which is 11x the current demand.

Current demand forecasts from the Aerospace, Automotive, Defence, SOFC, and Wind Turbine industries could reach almost 500 tonnes by 2030.

Companies Reviewed in the Scandium Industry Report American Rare Earths, Ardea Resources, Australian Mines, Auxico Resources, Doubleview Gold, Globex Mining, Imperial Mining, Idaho Strategic Resources, Ionic Rare Earths, MegaWatt Lithium, NioCorp, Nuinsco Resources, Platina Resources, Scandium International Mining, Sunrise Energy Metals, and Texas Mineral Resources.

Company Spotlight – Imperial Mining Group (

TSXV:
IPG) Imperial Mining's flagship project is the Crater Lake scandium-rare earths property in Quebec, Canada, with the potential to become a low-cost producer of high-purity scandium oxide.

The Preliminary Economic Assessment (PEA) for Crater Lake estimates a post-tax NPV 10% of $1.72 billion and an after-tax IRR of 32.8% over a 25-year mine life.

Recent optimization efforts have increased Sc recovery to 96% and rare earths recovery to 94% at the leaching stage, with a mine-to-precipitate recovery of 76% for Sc and 60% for rare earths.

A recent NI compliant resource update pegged the total resource at 27.7 million tonnes at an average grade of 271 ppm scandium oxide.

Work continues on a Feasibility Study (FS), permitting, design and engineering studies, and offtake agreements.

e Research is pleased to publish an Industry Report on "Scandium – A Metal for a Green Future; Your Guide to Understanding and Investing in Scandium Companies".

You can download our 39-page Scandium Industry Report by clicking on the following link: eR-Scandium-Industry-Report-
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Scandium (Sc) is an important metal with many applications in various industries, particularly in the production of aluminum-scandium (Al-Sc) alloys and solid oxide fuel cells (SOFCs).

Sc is also used in ceramics, electronics, lasers, lighting, and radioactive isotopes.

Sc is on the Critical Minerals list for Australia, Canada, the European Union (EU), and the United States (US), but not the United Kingdom (UK).

REPORT HIGHLIGHTS:

Scandium Uses Scandium is a lightweight, soft metal with a high melting point and good electrical and heat conductivity.

Scandium is alloyed with aluminum (Al-Sc) similar to how niobium is alloyed with steel.