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February 26 th , 2025 – TheNewswire — Bedford Metals Corp. ( TSX-V: BFM, FWB: O8D ) , ( ISIN: CA0762301012 ) (the “ Company ” or “ Bedford ”) is pleased to announce that it has entered into an agreement, dated February 24, 2025, with Northern Lights Exploration Corp. (“ NLE ”), and the sole shareholder of NLE (the “ Vendor ”), pursuant to which the Company proposes to acquire (the “ Acquisition ”) all of the outstanding share capital of NLE. NLE is the holder of the Cable Lake Uranium Project, comprised of an 8,056 hectare area adjoining the Company’s Sheppard and Ubiquity Lake claims to the north. With this Acquisition, the Company will control an aggregate of 13,092 hectares of prospective ground in the highly prospective Athabasca Basin, Saskatchewan.
The Cable Lake claims host over 22 kilometers of electromagnetic (EM) anomalies situated within relative magnetic lows— a geophysical signature commonly associated with uranium deposits in the Athabasca Basin. Notably, a 2007 GEOTEM (airborne magnetic and electromagnetic) survey conducted by Fugro identified an area of interest (ROI 5) just north of Warr Lake, where Bedfords' 2024 exploration program uncovered several radioactive anomalies.
Pursuant to the terms of the Acquisition, the Company proposes to acquire all of the outstanding share capital of NLE in consideration for the issuance of 1,000,000 common shares of the Company to the Vendor. In addition, the Vendor will receive the right to acquire 2,500,000 common shares, for total consideration of $1.00, in the event the Company successfully recovers a radioactive sample from the Cable Lake claims equal to or greater than 0.10%, provided that such event occurs prior to December 31, 2027. The Company is at arms-length from the Vendor and NLE. No finders’ fees or commissions are payable by the Company in connection with the Acquisition. Completion of the Acquisition remains subject to the approval of the TSX Venture Exchange and the satisfaction of customary closing deliveries.
Peter Born, President of Bedford, commented, “We are excited about the Acquisition of the Cable Lake Uranium Project. This Acquisition will significantly expands the Ubiquity Lake project area and will add a highly prospective land package with strong geophysical signatures. The fact that this project directly adjoins our existing claims makes it a natural and strategic addition to our portfolio. We look forward to integrating this new ground into our exploration plans as we continue working towards a uranium discovery.”
With the addition of the Cable Lake Uranium Project, Bedford will be updating its exploration plan to incorporate this newly acquired prospective ground. The Company will refine its targeting efforts using historical geophysical data, modern exploration techniques, and the findings from its 2024 exploration programs to prioritize high-potential areas for further investigation. Further details on the exploration plans for the expanded project area will be provided as they are finalized.
Bedford remains committed to conducting all exploration activities in an environmentally responsible manner and in collaboration with local indigenous communities and stakeholders. The company prioritizes sustainability and responsible resource development to ensure mutually beneficial relationships with the communities in which it operates.
Qualified Person
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and the President of the Company, and is responsible for and has approved the technical information contained in this release.
For further information, please contact the Company at info@bedfordmetals.com or 604-622-1199 or visit the Company’s website at www.bedfordmetals.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes statements that contain “ forward-looking information ” within the meaning of the applicable Canadian securities legislation (“ forward-looking statements ”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statements that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “ plans ”, “ expects ”, “ is expected ”, “ budget ”, “ scheduled ”, “ estimates ”, “ forecasts ”, “ intends ”, “ anticipates ”, or “ believes ” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “ may ”, “ could ”, “ would ”, “ might ” or “ will ” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward -looking statements relate, among other things to: completion of the Acquisition, the ability to obtain the necessary regulatory authorizations and approvals and the development of a revised exploration plan.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption “ Risk Factors ” in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward–looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward–looking statements to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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