Bedford Metals Completes Satellite Survey at Ubiquity Lake Uranium Project
NEWS RELEASE
BEDFORD METALS COMPLETES SATELLITE SURVEY AT UBIQUITY LAKE URANIUM PROJECT
July 1st, 2024—Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) is pleased to announce
the successful completion and assessment of its VNIR (Visible Near Field Infrared) and SWIR (Shortwave
Infrared) satellite investigation at the Ubiquity Lake Uranium Project, just south of the Athabasca Basin,
Saskatchewan.
The statistical analysis, conducted by Dr. Neil Pendock, PhD in Applied Mathematics, identified several
key indicators for uranium mineralization. The investigation revealed anomalous helium emissions and
methane, the latter of which is interpreted as altered clays, particularly illite.
At Ubiquity Lake, the principal target zone (TZ1) is a 3.6km northwest-trending fault, striking at an angle
roughly 90 degrees to the Cable Shear fault. The satellite survey identified a large but well-defined
methane gas anomaly that correlated strongly with the footprint of TZ1. Methane gas is a marker for illite,
which forms through hydrothermal alteration – the primary mechanism responsible for uranium
deposition in the Athabasca Basin region.
Additionally, the survey revealed multiple highly anomalous helium blooms over TZ1 and other
prospective areas, with the greatest intensities near radioactive boulder fields. These boulder fields have
been identified and confirmed through multiple prospecting surveys. Like radon gas, helium is a first-order
decay product of uranium, and its presence strongly correlates with uranium deposits.
Peter Born, President of Bedford, commented, “I am greatly encouraged by the results of our satellite
survey at Ubiquity Lake. The identification of these key uranium markers provides us with further
confidence in our ability to make a discovery at Ubiquity Lake. These findings will guide our future
exploration efforts and help us focus on the most promising targets.”
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 benefit these stakeholders.
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. 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 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.
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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