The LOI calls for the Company to contribute various aluminum alloy samples containing scandium, for testing by Austal and potentially other third-party testing groups, to determine suitability in marine and defense applications. The Company intends to publicly report a summary of the results at the conclusion of the program. 

LOI AGREEMENT HIGHLIGHTS:

• LOI defines specific alloy sample contributions by the Company to Austal,
• Austal will test various properties on the samples, to determine suitability for marine use, in both commercial and military applications,
• Testing results are to be shared, understood, possibly publicly disclosed, recognizing any intellectual property discovery,
• Austal is a leading global supplier of large high-speed marine vessels, typically with both hull and superstructure fabricated from aluminum, and
• Successful testing results potentially form a basis of marine certification and use of Al-Sc alloys in various marine applications, leading to stronger and lighter vessels.

George Putnam, CEO of Scandium International Mining Corp. commented:

"We are very pleased to add Austal to our list of partners exploring scandium's advantages in marine/naval applications. Austal is a design-leader in high-speed marine vessels utilizing aluminum hulls and superstructures for lightweight design and fast, efficient performance. We believe scandium additions will deliver unique and useful property values in marine environments, and we believe Austal represents an ideal partner to determine their applicability."