Bedford Metals Expands Athabasca Basin Presence with Northern Lights Acquisition
Bedford Metals Corp. - March 7th, 2025 -- NewsGenie -- Bedford Metals Corp. (TSX-V: BFM) has successfully closed the acquisition of Northern Lights Exploration Corp. (NLE), securing the Cable Lake Uranium Project and expanding its holdings in the Athabasca Basin, Saskatchewan, to 13,092 hectares.
The Cable Lake property, spanning 8,056 hectares, adjoins Bedford’s Sheppard and Ubiquity Lake claims. It features over 22 kilometers of electromagnetic (EM) anomalies within magnetic lows, a geophysical signature typical of Athabasca Basin uranium deposits. A 2007 airborne survey identified an area of interest (ROI 5) north of Warr Lake, where Bedford found radioactive anomalies in its 2024 exploration program.
Bedford acquired NLE by issuing 1,000,000 common shares to the vendor. The vendor can also acquire 2,500,000 common shares for $1.00 if Bedford recovers a radioactive sample from Cable Lake claims equal to or greater than 0.10% U3O8 before December 31, 2027. The company stated that the acquisition was an arm's length transaction.
Peter Born, President of Bedford, stated that the Cable Lake Uranium Project significantly expands the Ubiquity Lake project area and enhances the company's portfolio. Bedford will update its exploration plan to include the Cable Lake property, using historical data and modern techniques to identify high-potential areas.
Bedford is committed to conducting exploration activities in an environmentally responsible manner, prioritizing sustainability and transparency in collaboration with local indigenous communities and stakeholders.
Dr. Peter Born, P.Geo., President of the Company, and qualified person as defined by National Instrument 43-101, has approved the technical information in this release.
For more information, contact info@bedfordmetals.com or 604-622-1199, or visit www.bedfordmetals.com.