Bedford Metals Confirms Drill Targets at Ubiquity Lake Uranium Project

NEWS RELEASE

BEDFORD METALS CONFIRMS DRILL TARGETS AT UBIQUITY LAKE URANIUM PROJECT

January 14th, 2025—Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company”

or “Bedford”) is pleased to announce that it has received preliminary interpretation results of historic

geophysical datasets over its target zones on the Ubiquity Lake Project, ~70 km due west of the historic

Key Lake Mine. The interpretation was completed by Condor Consulting Inc., a prominent geophysical

company, with extensive experience in uranium exploration in the basin.

From the interpretation of the Maxwell plate modeling results, TZ-2 has been successfully delineated as a

target that can be immediately tested with diamond drilling. TZ-1 will be followed up with additional

ground geophysical surveys, either ground TEM or IP-resistivity, prior to drilling.

Regarding the results, Peter Born, P.Geo. commented, “the Company is extremely pleased with the results

of this modeling and interpretation and would like to thank Ken Witherly and the Condor team for their

diligent investigation. This work has advanced and potentially hastened the timeline to making a

discovery.”

Figure 1 shows two target zones (TZ-1 and TZ-2) defined by an earlier assessment of a 2007 VTEM survey.

Condor applied both a Layered Earth Inversion (LEI) and Maxwell plate modeling to the VTEM EM data

over the two target zones. The LEI results are the goldenrod ‘towers’. The Maxwell plates are represented

in red. While the two LEIs look similar, the Maxwell plates associated with TZ-1 show several pencil-like

type structures that are commonly associated with conductor with anomalous conductivity. The TZ-2

plates are more typical of a steeply dipping plate-like conductor. The depths for both Maxwell models

shows a depth to top conformable with the local unconformity depth.

Figure 1: 3D view of VTEM LEI and Maxwell modeling for TZ-1 and TZ-2.

(base map from Bedford Metals Corp. Oct 2024)

Figure 2 shows the EM results shown in Figure 1 but as well, the 3D magnetic susceptibility model created

from the VTEM magnetic results. The TZ-1 EM results do not show a direct magnetic association whereas

the TZ-2 results show there to be a coincident magnetic response associated with the Maxwell plate at

depth.

Figure 2: VTEM EM and magneƟc results.

Bedford remains committed to conducting all exploration activities in an environmentally responsible

manner. The Company prioritizes minimizing its environmental footprint while ensuring that all

operations are sustainable and respectful of the natural environment. Additionally, Bedford values

collaboration with local indigenous groups and stakeholders, ensuring that its activities are carried out

transparently and with mutual benefit in mind.

Qualified Person

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.

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.

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements that contain “forward-looking information” within the meaning of the

applicable Canadian securities legislation (“forward-looking statements”). All statements, other than

statements of historical fact, are forward-looking statements and are based on expectations, estimates and

projections as at the date of this news release. Any statements that involves discussion with respect to

predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance

(often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”,

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“will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking

statements. In this news release, forward -looking statements relate, among other things to: the likelihood of

completion of the Offering, the use of proceeds from sales from the Offering, the closing of the Offering and the

ability to obtain the necessary regulatory authorizations and approvals.

These statements reflect the Company’s respective current views with respect to future events and are

necessarily based upon a number of other assumptions and estimates that, while considered reasonable by

management, are inherently subject to significant business, economic, competitive, political and social

uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 and the Company has made

assumptions and estimates based on or related to many of these factors. Such factors include, without

limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities

in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s

management team and outside contractors; risks regarding exploration and mining activities; the Company’s

inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations;

risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing

and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves

and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to

properties, particularly title to undeveloped properties; laws and regulations governing the environment, health

and safety; the ability of the communities in which the Company operates to manage and cope with the

implications of public health crises; the economic and financial implications of public health crises, ongoing

military conflicts and general economic factors to the Company; operating or technical difficulties in connection

with mining or development activities; employee relations, labour unrest or unavailability; the Company’s

interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the

speculative nature of exploration and development, including the risks of diminishing quantities or grades of

reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for

shareholders of the Company; litigation risk; and the factors identified under the caption “Risk Factors” in the

Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward–

looking statements. Although the Company has attempted to identify important factors that could cause actual

results to differ materially, there may be other factors that cause results not to be anticipated, estimated or

intended. The Company does not intend, and does not assume any obligation, to update these forward–looking

statements to reflect changes in assumptions or changes in circumstances or any other events affecting such

statements or information, other than as required by applicable law.