Bedford Metals Accelerates Due Diligence of Sheppard Lake Uranium Project IN Light of Recent Activities IN the Area
NEWS RELEASE
BEDFORD METALS ACCELERATES DUE DILIGENCE OF SHEPPARD LAKE URANIUM PROJECT IN LIGHT OF
RECENT ACTIVITIES IN THE AREA
July 2nd, 2024—Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: US0231351067, WKN: 906866) (the
“Company” or “Bedford”) announces that it has accelerated its due diligence on the Sheppard Lake
Uranium Project in light of recent activities in the area. The recent takeover offer by Paladin Energy Ltd.
for Fission Uranium Corp. has underscored the increasing mergers and acquisitions (M&A) activity in the
Athabasca Basin, reinforcing Bedford’s belief that the uranium industry in Canada is poised for significant
expansion as nuclear energy is likely to play a pivotal role in the clean energy transformation.
The proposed acquisition by Paladin Energy, as reported by CarbonCredits.com on June 26, 2024,
highlights the growing strategic importance of uranium in the global energy landscape. The article, titled
"Paladin Energy Offers C$1.14 B to Canada’s Fission Uranium. What does it mean for Uranium Mining?"
by Saptakee S, notes:
“Australian uranium mining giant Paladin Energy Ltd. has announced a C$1.14 billion ($833 million) all-
stock offer to acquire Canadian mining firm Fission Uranium Corp. Using uranium in nuclear power
significantly contributes to achieving climate goals by providing reliable energy that reduces the global
carbon footprint. Thus, this deal can bring a paradigm shift in uranium mining.”
Peter Born, President of Bedford, commented, “The increased M&A activity in the Athabasca Basin,
exemplified by Paladin’s offer for Fission Uranium, is a strong signal of the market’s recognition of
uranium’s critical role in the transition to green energy. This reinforces our belief that the Sheppard Lake
project and our Ubiquity Lake and Close Lake projects are strategically valuable and warrant accelerated
due diligence and exploration efforts.”
The Sheppard Lake Uranium Project, located just south of the Athabasca Basin, is of particular interest to
Bedford. The project’s strategic location and the promising results from recent surveys at the
neighbouring Ubiquity Lake have strengthened the company’s confidence in its potential. Identifying key
uranium markers, such as anomalous helium and methane emissions at Ubiquity Lake, provides a robust
foundation for targeted exploration.
Bedford remains committed to conducting all exploration activities to the highest environmental
standards. 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 committed to working collaboratively to ensure that its
activities bring positive benefits to these stakeholders.
As the demand for clean energy solutions continues to grow, Bedford is poised to play a significant role in
the global transition towards sustainable resource development. The Company will continue to leverage
innovative techniques and ramp up its exploration efforts to maximize the value of its uranium projects
and contribute to the world’s green energy future.
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.
About Bedford Metals Corp.
Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: US0231351067, WKN: 906866) 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 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 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 project 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.
For further information, 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
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.
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