Bedford Metals Expands Uranium Portfolio with Cable Lake Acquisition
Bedford, Saskatchewan -- February 26th, 2025 -- NewsGenie -- Bedford Metals Corp. (TSX-V: BFM) has announced an agreement to acquire Northern Lights Exploration Corp. (NLE), securing the Cable Lake Uranium Project. This acquisition expands Bedford's control to 13,092 hectares in the Athabasca Basin, Saskatchewan. The Cable Lake claims feature 22 kilometers of electromagnetic anomalies, a key signature of uranium deposits. Bedford will issue 1,000,000 common shares to the Vendor of NLE. The Vendor is eligible to receive rights to acquire 2,500,000 common shares for $1.00 if a radioactive sample greater than 0.10% is recovered from Cable Lake claims before December 31, 2027. The acquisition is subject to TSX Venture Exchange approval.
Peter Born, President of Bedford, stated the acquisition strategically expands the Ubiquity Lake project and adds prospective land with geophysical signatures. Bedford will update its exploration plan to include the Cable Lake project, using historical data and findings from 2024 exploration programs. The company is committed to responsible exploration, collaborating with local indigenous communities. Dr. Peter Born, P.Geo., has approved the technical information in this release.