Bedford announces result of Phase 3 Field Program at its Sheppard Lake Uranium Project and Commencement of 2026 Drilling Program
Bedford announces result of Phase 3 Field Program at its Sheppard Lake Uranium Project and
Commencement of 2026 Drilling Program
May 4, 2026—Bedford Metals Corp. (TSX-V: BFM, FWB: 08D, ISIN: CA0762301012) (the “Company” or
“Bedford”) is pleased to announce the results of the third phase of its 2025 field program, completed in
December 2025, at its wholly owned Sheppard Lake Uranium Project, located on the southern edge of
Saskatchewan’s prolific Athabasca Basin. Highlights include:
TZ-1: Up to 4,114 CPS, 0.032% U3O8 and 11ppm Boron
TZ-2: Up to 2,350 CPS, 0.016% U3O8 and 18ppm Boron
Warr Lake: Up to 10,609 CPS and 16ppm Boron in the Silica Cap Zone
SHP-25-02: 50.6ppm Boron over 25.27m, including 972ppm Boron from 207-207.77m
The phase 3 field program consisted of 3 radiometric surveys, prospecƟng, and 298.5m of diamond
drilling. In total, 92 rock samples (grab samples and drill core) were delivered to the SRC GeoanalyƟcal
Laboratory in Saskatoon and were analysed for mulƟ-element, U3O8, and boron assay analyses.
Radiometric Surveys
Radiometric surveys covered 36.4 line-km across three targeted locaƟons: the area west of and adjacent
to TZ-2, TZ-1, and an area west of Warr Lake. Data was collected using high-resoluƟon grids, with
readings taken every 10 metres along 500-metre lines and a line spacing of 25 metres. The 3,648 total
readings resulted in the idenƟficaƟon of nine anomalous areas, with the most notable being at the TZ-2
west and TZ-1 zones.
At TZ-1, 1,468 readings were collected, revealing four anomalous areas with peak CPS values ranging
from 420 to 1,134 CPS. At TZ-2 west, 952 readings were collected, idenƟfying three anomalous areas
with peak CPS values between 704 and 1,231 CPS. At Warr Lake, 1,228 readings were collected,
delineaƟng two broad anomalous areas with CPS values ranging from 153 to 395 CPS.
ProspecƟng
A total of 18 grab samples were collected during prospecƟng of outcrops at TZ-1, TZ-2 West, and at Warr
Lake. Notable results from TZ-1 include CPS readings of up to 4,114 CPS, 0.032% U₃O₈, and 11 ppm
Boron, while TZ-2 West highlights include CPS readings of up to 2,350 CPS, 0.016% U₃O₈, and 18 ppm
Boron.
By early December, sufficient ice coverage allowed the team to access two islands in the centre of Warr
Lake. The larger eastern island consists of pink I-type granite exhibiƟng pronounced banding and
metamorphism, with elevated radiometric readings and hotspots of 1,400, 7,145, and 10,609 CPS, along
with up to 16 ppm Boron at the "Silica Cap Zone." Although uraninite values in these samples are low,
the strong radiometric signature suggests the area remains highly prospecƟve. The Warr Lake islands sit
adjacent to a north-south trending fault and a northwest-southeast trending EM conductor, and lie
within 500 metres of the Athabasca Basin boundary.
Figure 1: Map showing Phase 3 work – CPS results, Grab sample locaƟons and DDH locaƟons. Inset map shows a
larger-scale TZ-1 and TZ-2 areas.
Sample
ID Location UTM E UTM N
Max CPS
sample
location
RS-125
U ppm
RS-125
Th ppm
RS-125
U/Th
ratio U3O8 %
U
ppm
Th
ppm
U/Th
Ratio
B
(ppm)
726901 TZ-1 360868 6353821 2350 68.5 177.8 0.39 0.0005 10 21 0.48 8
726902 TZ-1 360987 6353765 2000 116.1 52.2 2.22 0.032 297 65 4.57 3
726903 TZ-1 360878 6353755 1050 12.4 107.2 0.12 0.0005 11 45 0.24 3
726904 TZ-1 360990 6353680 1400 42.4 117.5 0.36 0.002 47 187 0.25 4
726957 TZ-1 360405 6353777 4114 152.4 314.9 0.10 0.016 121 264 0.46 11
71977 TZ-2 361957 6354060 480 28.5 16.7 1.71 0.016 150 81 1.85 11
71978 TZ-2 361954 6354060 1840 80.2 30.6 2.62 0.008 86 32 2.69 6
71979 TZ-2 361952 6354058 2350 39.1 187.5 0.21 0.004 63 254 0.25 6
71980 TZ-2 361952 6354055 1450 70.9 78.7 0.90 0.01 101 108 0.94 2
726951 TZ-2 361952 6354055 1700 79 92.6 0.85 0.003 49 60 0.82 13
726952 TZ-2 361677 6354082 2100 72.1 146.6 0.49 0.013 136 262 0.52 5
726953 TZ-2 361519 6353942 1800 29.2 148.8 0.20 0.001 24 64 0.38 9
726954 TZ-2 361966 6354058 1809 95.8 42.1 2.28 0.016 141 47 3.00 18
726955 TZ-2 361947 6354020 1260 12.5 123.9 0.10 0.0005 6 25 0.24 2
726956 TZ-2 361538 6353953 2039 50.9 202 0.25 0.003 39 116 0.34 5
726905 Warr Lake 362358 6356982 10609 8.7 1818 0.00 0.003 1 827 0.00 16
726906 Warr Lake 362293 6356987 1400 54 110 0.49 0.0005 1 82 0.01 9
726958 Warr Lake 362035 6356929 7145 34 1193 0.03 0.0005 1 241 0.00 7
Table 1: Sample results from Phase 3 prospecƟng. RS-125 values represent ScinƟllometer readings taken in the field
at the Ɵme of sampling.
Diamond Drilling
Extremely cold weather and associated equipment issues limited total drilling to 298.5 metres. The first
hole (SHP-25-01) was abandoned at 32 metres due to rod binding, while the second hole (SHP-25-02)
followed the same azimuth with a slightly steeper dip, reaching a final depth of 266.5 metres. Both holes
were designed to test the area immediately south of the TZ-2 showing. A total of 74 samples were
collected, with a maximum CPS reading of 152. Boron values in SHP-25-02 are notably elevated,
averaging 50.6 ppm over 25.27 metres from 11 to 212 metres depth, including a peak of 972 ppm Boron
between 207 and 207.77 metres. While uraninite values remain low, the radiometric anomalies
idenƟfied immediately west of the drill area indicate that the zone conƟnues to hold strong exploraƟon
potenƟal.
In addiƟon, the Company is commencing immediately with its 2026 drilling program, where up to 2000m
of drilling is expected to be completed on the highest priority targets.
Peter Born, President of Bedford Metals, commented: "The results from our winter program at Sheppard
Lake are highly encouraging and reinforce our confidence in the property's exploraƟon potenƟal. Despite
challenging weather condiƟons, we successfully completed radiometric surveys, prospecƟng, and iniƟal
drilling that have idenƟfied mulƟple anomalous zones with compelling signatures. The elevated Boron
values, strong CPS readings, and proximity to key structural features near the Athabasca Basin boundary
all point to a highly prospecƟve system. We are eager to build on these findings as we advance
exploraƟon at Sheppard Lake.”
Bedford remains steadfast in its commitment to conducƟng all exploraƟon acƟviƟes in an
environmentally responsible manner and in close collaboraƟon with local Indigenous communiƟes and
other stakeholders. The Company places the highest priority on minimizing its environmental footprint
while fostering posiƟve and mutually respecƞul relaƟonships within the region.
Technical Disclosure
All samples from exploraƟon programs are shipped to the Saskatchewan Research Council GeoanalyƟcal
Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparaƟon, processing, and
mulƟ-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and parƟal digesƟon
(HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. The SRC is an
ISO/IEC 17025/2005 and Standards Council of Canada cerƟfied analyƟcal laboratory. The SRC is
independent of the Company. Blanks, standard reference materials, and repeats are inserted into the
sample stream at regular intervals by the SRC in accordance with Bedford’s quality assurance/quality
control (QA/QC) procedures.
Francis R. Newton, PGeo, (OGQ No. 2129), a consultant to Bedford and a qualified person under National
Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the technical contents of
this news release and has approved the disclosure of the technical information contained herein.
For further informaƟon, please contact the Company at [email protected] 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
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United
States Private SecuriƟes LiƟgaƟon Reform Act of 1995 and applicable Canadian securiƟes laws. When or
if used in this news release, the words “anƟcipate”, “believe”, “esƟmate”, “expect”, “target, “plan”,
“forecast”, “may”, “schedule” and similar words or expressions idenƟfy forward-looking statements or
informaƟon including, but not limited to, the Company’s interpretaƟons of exploraƟon and drilling
results; and the Company’s forthcoming drilling program. Such statements represent the Company’s
current views with respect to future events and are necessarily based upon a number of assumpƟons and
esƟmates that, while considered reasonable by the Company, are inherently subject to significant
business, economic, compeƟƟve, poliƟcal and social risks, conƟngencies and uncertainƟes. Many factors,
both known and unknown, could cause 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. The Company does not intend, and does not assume any obligaƟon, to update these
forward-looking statements or informaƟon to reflect changes in assumpƟons or changes in
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