Close Lake Uranium Project Location

The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake mine, the Cigar Lake Mine and the McArthur River Mine.

Sheppard Lake and Ubiquity Lake Claims

The Sheppard Lake Uranium Project covers an area of approximately 2250 hectares and adjoins Bedford’s Ubiquity Lake Project to the southeast. With this transaction, the Company now has under option over 3600 hectares of prospective ground located just south of the Athabasca Basin’s lip.

VANCOUVER, British Columbia, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce the Company has sent a total of 60 samples from its recent exploration program at the Ubiquity Lake Uranium Project, Athabasca, Canada for Inductively Coupled Plasma Mass Spectrometry (ICP-MS) analysis. This advanced analytical technique is considered the 'gold standard' for uranium analysis. It provides precise and sensitive measurements of trace elements across a wide range of samples, helping to confirm the promising on-site results.

Peter Born, President of Bedford, commented, “The results from our recent exploration program at the Ubiquity Lake Project have been very encouraging. We are eager to see the outcomes from the ICP-MS analysis, as we anticipate that the lab results will confirm our initial findings. These results will be crucial in guiding our next steps as we outline the upcoming exploration program at Ubiquity Lake.”

The Company is using an innovative mineral analysis approach, Inductively Coupled Plasma Mass Spectrometry (ICP-MS). This advanced analytical technique stands at the forefront of modern scientific exploration, offering unparalleled precision and sensitivity in measuring trace elements.

ICP-MS first converts the sample into an ionized state within a high-temperature plasma torch. This plasma generates temperatures exceeding 10,000 degrees Celsius, effectively breaking down the sample into its elemental components. These ions are then extracted into the mass spectrometer, where they are separated based on their mass-to-charge ratios and quantified with exceptional accuracy.

The Company will incorporate the results from this lab analysis into the planning and execution of the next exploration phase at the Ubiquity Lake Uranium Project. The data will be critical in refining our understanding of the mineralization potential and identifying high-priority targets for further investigation.

Bedford remains committed to conducting all exploration activities with the utmost respect for environmental stewardship. The company is dedicated to minimizing its environmental footprint and ensuring that all operations are sustainable and responsible. Additionally, Bedford values its relationships with local communities and indigenous groups and is dedicated to working collaboratively with these stakeholders to ensure its activities bring positive benefits to the region.

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 in this release.

About Bedford Metals Corp.

Bedford Metals Corp. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production.

The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine, and the McArthur River Mine. Access to the property is done through a network of roads and trails.

The Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of the bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s Carpenter Lake Project to the east. Situated near the Cable Bay Shear Zone, parallel to the Virgin River Shear Zone, which hosts Cameco’s Centennial uranium deposit, the project holds immense potential. Furthermore, it is located 100 km west of Cameco’s past-producing Key Lake uranium mine, underscoring the strategic significance of its location.

The Sheppard Lake Uranium Project covers an area of approximately 2250 hectares and adjoins the Ubiquity Lake Project to the southeast. The project area is characterized by rocks of the Mudjatik domain, where uranium mineralization is typically basement-hosted, situated within shears or faults, and formed through hydrothermal redistributions of dissolved metals and subsequent redox reactions.

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.

On behalf of the Board,

Bedford Metals Corp.

“Peter Born”
President

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.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

CONTACT:

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Alex Zertuche
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Photos accompanying this announcement are available at

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https://www.globenewswire.com/NewsRoom/AttachmentNg/087c2089-b01d-4626-96d5-cc86528bc621

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