Bedford Metals Completes Close Lake Uranium Project Option Agreement
NEWS RELEASE
BEDFORD METALS COMPLETES CLOSE LAKE URANIUM PROJECT OPTION
AGREEMENT
May 21 st, 2024 —Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) is pleased to
announce that following a successful diligence review, it has elected to enter into a definitive option
agreement (the “Agreement”) with an arm’s-length party pursuant to which it has been granted the rights
to acquire the Close Lake Uranium Project, a further addition to the Company’s mineral project portfolio.
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. The property is accessible through a network of roads and trails.
After completing due diligence, Bedford elected to proceed with a definitive agreement, recognizing the
potential of the Project to contribute to the Company's strategic objectives. The Project's promising
attributes align with Bedford commitment to creating shareholder value through the development of
high-quality mineral projects.
Peter Born, President of Bedford, commented "We are thrilled to move forward with the Close Lake
Uranium Project, which marks another step in our journey to build a world-class mineral project portfolio.
I want to extend my gratitude to the entire team for their hard work through the diligence process and
ongoing effort to unlock value for our shareholders."
Bedford remains committed to providing further updates on its exploration plans for the Close Lake
Uranium Project, as well as its other exploration programs. In line with its core values, Bedford is
dedicated to conducting environmentally sensitive exploration activities and fostering collaborative
relationships with local communities and indigenous nations. Environmental stewardship is paramount to
the company's operations, and it is committed to upholding the highest standards of responsible resource
development.
For further information regarding the Close Lake Uranium Project, and the terms by which the Company
can acquire the Project, readers are encouraged to review the news release issued by the Company on
March 7, 2024. No finders' fees or commissions are payable by the Company in connection with the
Agreement, nor does the Agreement contemplate that any securities of the Company would be issued.
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, allowing Bedford to achieve exceptional shareholder
value through the entire mining life cycle.
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 very good, through a network of roads and trails.
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.
Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101 and is
responsible for, and has approved, the technical information contained in this release.
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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