Business
Bedford Metals to Acquire Cable Lake Uranium Project, Expanding Ubiquity Lake Project
(TheNewswire) February 26 th , 2025 – TheNewswire — Bedford...
About this update from Bedford Metals Corp
[{"type":"text","content":"Bedford Metals to Acquire Cable Lake Uranium Project, Expanding Ubiquity Lake Project\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n February 26\n \n th\n \n , 2025 –\n \n TheNewswire\n \n —\n \n\n\n\n Bedford Metals Corp.\n \n\n (\n \n TSX-V: BFM,\nFWB: O8D\n \n\n )\n \n\n ,\n \n\n (\n \n\n ISIN: CA0762301012\n \n ) (the\n“\n \n Company\n \n ” or “\n \n\n\n\n\n Bedford\n \n ”) is pleased to announce\nthat it has entered into an agreement, dated February 24, 2025, with\nNorthern Lights Exploration Corp. (“\n \n NLE\n \n ”), and the sole shareholder of NLE (the “\n \n Vendor\n \n ”), pursuant to which the\nCompany proposes to acquire (the “\n \n Acquisition\n \n ”) all of the outstanding share capital of NLE.\n NLE is the holder of the Cable Lake Uranium Project, comprised of an\n8,056 hectare area adjoining the Company’s Sheppard and Ubiquity\nLake claims to the north.  With this Acquisition, the Company will\ncontrol an aggregate of 13,092 hectares of prospective ground in the\nhighly prospective Athabasca Basin, Saskatchewan.\n \n\n\n The Cable Lake claims host over 22 kilometers of\nelectromagnetic (EM) anomalies situated within relative magnetic\nlows— a geophysical signature commonly associated with uranium\ndeposits in the Athabasca Basin. Notably, a 2007 GEOTEM (airborne\nmagnetic and electromagnetic) survey conducted by Fugro identified an\narea of interest (ROI 5) just north of Warr Lake, where Bedfords' 2024\nexploration program uncovered several radioactive anomalies.\n \n\n\n\n Pursuant to the terms of the Acquisition, the Company\nproposes to acquire all of the outstanding share capital of NLE in\nconsideration for the issuance of 1,000,000 common shares of the\nCompany to the Vendor.  In addition, the Vendor will receive the\nright to acquire 2,500,000 common shares, for total consideration of\n$1.00, in the event the Company successfully recovers a radioactive\nsample from the Cable Lake claims equal to or greater than 0.10%,\nprovided that such event occurs prior to December 31, 2027.  The\nCompany is at arms-length from the Vendor and NLE.  No finders’\nfees or commissions are payable by the Company in connection with the\nAc...