Bedford Metals Announces Phase 1 of Exploration Program FOR Close Lake Uranium Project
NEWS RELEASE
BEDFORD METALS ANNOUNCES PHASE 1 OF EXPLORATION PROGRAM FOR CLOSE LAKE URANIUM
PROJECT
July 23rd, 2024—Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or
“Bedford”) is pleased to announce its 2024 Phase I field program for the Close Lake Uranium Project,
located on the west side of the Athabasca Basin. Results from this program will be integrated with
historical datasets to further enhance the dataset for the project.
The Phase I exploration program will include a comprehensive radon gas survey over the identified helium
blooms (He1 and He2), as well as a 1000m hematite anomaly detected through VNIR (Visible Near Field
Infrared) and SWIR (Shortwave Infrared) satellite investigations. Radon gas, like helium, is a decay product
of uranium and serves as a pathfinder element for uranium.
The program will be executed in two stages. The initial stage involves deploying gas cups to collect radon
gas. In the subsequent recovery stage, the cups will be collected and analyzed. This survey aims to
prioritize and refine the exploration targets at Close Lake, setting the stage for subsequent diamond
drilling.
Peter Born, President of Bedford, commented, “We are excited to commence the Phase I exploration
program at Close Lake. The radon gas survey will provide us with critical data to better understand the
subsurface uranium potential and refine our drilling targets. This program underscores our commitment
to leveraging advanced exploration techniques to unlock the full potential of our projects.”
This exploration program at Close Lake will build on the Company’s other initiatives to advance its uranium
projects. By integrating the radon gas survey data with existing datasets, Bedford aims to enhance its
understanding of the project area and move closer to a significant uranium discovery.
Bedford remains dedicated to conducting all exploration activities to the highest environmental
standards. The Company is committed 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 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 [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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