Bedford announces result of Phase 3 Field Program at its Sheppard Lake Uranium Project and Commencement of 2026 Drilling Program

(via TheNewswire) May 4, 2026 – TheNewswire — Bedford Metals Corp. (TSX-V: BFM, FWB: 08D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce the results of the third phase of its 2025 field program, completed in December 2025, at its wholly owned Sheppard Lake Uranium Project, located on the southern edge of Saskatchewan’s prolific Athabasca Basin. Highlights include: TZ-1: Up to 4,114 CPS, 0.032% U and 11ppm Boron   TZ-2: Up to 2,350 CPS, 0.016% U and 18ppm Boron   Warr Lake: Up to 10,609 CPS and 16ppm Boron in the Silica Cap Zone   SHP-25-02: 50.6ppm Boron over 25.27m, including 972ppm Boron from 207-207.77m   The phase 3 field program consisted of 3 radiometric surveys, prospecting, and 298.5m of diamond drilling. In total, 92 rock samples (grab samples and drill core) were delivered to the SRC Geoanalytical Laboratory in Saskatoon and were analysed for multi-element, U 3 O 8 , and boron assay analyses. Radiometric Surveys Radiometric surveys covered 36.4 line-km across three targeted locations: the area west of and adjacent to TZ-2, TZ-1, and an area west of Warr Lake. Data was collected using high-resolution grids, with readings taken every 10 metres along 500-metre lines and a line spacing of 25 metres. The 3,648 total readings resulted in the identification of nine anomalous areas, with the most notable being at the TZ-2 west and TZ-1 zones. At TZ-1, 1,468 readings were collected, revealing four anomalous areas with peak CPS values ranging from 420 to 1,134 CPS. At TZ-2 west, 952 readings were collected, identifying three anomalous areas with peak CPS values between 704 and 1,231 CPS. At Warr Lake, 1,228 readings were collected, delineating two broad anomalous areas with CPS values ranging from 153 to 395 CPS. Prospecting A total of 18 grab samples were collected during prospecting of outcrops at TZ-1, TZ-2 West, and at Warr Lake. Notable results from TZ-1 include CPS readings of up to 4,114 CPS, 0.032% U₃O₈, and 11 ppm Boron, while TZ-2 West highlights include CPS readings of up to 2,350 CPS, 0.016% U₃O₈, and 18 ppm Boron. By early December, sufficient ice coverage allowed the team to access two islands in the centre of Warr Lake. The larger eastern island consists of pink I-type granite exhibiting pronounced banding and metamorphism, with elevated radiometric readings and hotspots of 1,400, 7,145, and 10,609 CPS, along with up to 16 ppm Boron at the "Silica Cap Zone." Although uraninite values in these samples are low, the strong radiometric signature suggests the area remains highly prospective. The Warr Lake islands sit adjacent to a north-south trending fault and a northwest-southeast trending EM conductor, and lie within 500 metres of the Athabasca Basin boundary. Click Image To View Full Size Figure 1: Map showing Phase 3 work – CPS results, Grab sample locations and DDH locations. Inset map shows a larger-scale TZ-1 and TZ-2 areas. Sample ID Location UTM E UTM N Max CPS sample location RS-125 U ppm RS-125 Th ppm RS-125 U/Th ratio U3O8 % U ppm Th ppm U/Th Ratio B (ppm) 726901 TZ-1 360868 6353821 2350 68.5 177.8 0.39 0.0005 10 21 0.48 8 726902 TZ-1 360987 6353765 2000 116.1 52.2 2.22 0.032 297 65 4.57 3 726903 TZ-1 360878 6353755 1050 12.4 107.2 0.12 0.0005 11 45 0.24 3 726904 TZ-1 360990 6353680 1400 42.4 117.5 0.36 0.002 47 187 0.25 4 726957 TZ-1 360405 6353777 4114 152.4 314.9 0.10 0.016 121 264 0.46 11 71977 TZ-2 361957 6354060 480 28.5 16.7 1.71 0.016 150 81 1.85 11 71978 TZ-2 361954 6354060 1840 80.2 30.6 2.62 0.008 86 32 2.69 6 71979 TZ-2 361952 6354058 2350 39.1 187.5 0.21 0.004 63 254 0.25 6 71980 TZ-2 361952 6354055 1450 70.9 78.7 0.90 0.01 101 108 0.94 2 726951 TZ-2 361952 6354055 1700 79 92.6 0.85 0.003 49 60 0.82 13 726952 TZ-2 361677 6354082 2100 72.1 146.6 0.49 0.013 136 262 0.52 5 726953 TZ-2 361519 6353942 1800 29.2 148.8 0.20 0.001 24 64 0.38 9 726954 TZ-2 361966 6354058 1809 95.8 42.1 2.28 0.016 141 47 3.00 18 726955 TZ-2 361947 6354020 1260 12.5 123.9 0.10 0.0005 6 25 0.24 2 726956 TZ-2 361538 6353953 2039 50.9 202 0.25 0.003 39 116 0.34 5 726905 Warr Lake 362358 6356982 10609 8.7 1818 0.00 0.003 1 827 0.00 16 726906 Warr Lake 362293 6356987 1400 54 110 0.49 0.0005 1 82 0.01 9 726958 Warr Lake 362035 6356929 7145 34 1193 0.03 0.0005 1 241 0.00 7 Table 1: Sample results from Phase 3 prospecting. RS-125 values represent Scintillometer readings taken in the field at the time of sampling. Diamond Drilling Extremely cold weather and associated equipment issues limited total drilling to 298.5 metres. The first hole (SHP-25-01) was abandoned at 32 metres due to rod binding, while the second hole (SHP-25-02) followed the same azimuth with a slightly steeper dip, reaching a final depth of 266.5 metres. Both holes were designed to test the area immediately south of the TZ-2 showing. A total of 74 samples were collected, with a maximum CPS reading of 152. Boron values in SHP-25-02 are notably elevated, averaging 50.6 ppm over 25.27 metres from 11 to 212 metres depth, including a peak of 972 ppm Boron between 207 and 207.77 metres. While uraninite values remain low, the radiometric anomalies identified immediately west of the drill area indicate that the zone continues to hold strong exploration potential. In addition, the Company is commencing immediately with its 2026 drilling program, where up to 2000m of drilling is expected to be completed on the highest priority targets. Peter Born, President of Bedford Metals, commented: "The results from our winter program at Sheppard Lake are highly encouraging and reinforce our confidence in the property's exploration potential. Despite challenging weather conditions, we successfully completed radiometric surveys, prospecting, and initial drilling that have identified multiple anomalous zones with compelling signatures. The elevated Boron values, strong CPS readings, and proximity to key structural features near the Athabasca Basin boundary all point to a highly prospective system. We are eager to build on these findings as we advance exploration at Sheppard Lake.” Bedford remains steadfast in its commitment to conducting all exploration activities in an environmentally responsible manner and in close collaboration with local Indigenous communities and other stakeholders. The Company places the highest priority on minimizing its environmental footprint while fostering positive and mutually respectful relationships within the region. Technical Disclosure All samples from exploration programs are shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U 3 O 8 wt% assay by ICP-OES using higher grade standards. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. The SRC is independent of the Company. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by the SRC in accordance with Bedford’s quality assurance/quality control (QA/QC) procedures. Francis R. Newton, PGeo, (OGQ No. 2129), a consultant to Bedford and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein. 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 contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information including, but not limited to, the Company’s interpretations of exploration and drilling results; and the Company’s forthcoming drilling program.   Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.   Copyright (c) 2026 TheNewswire - All rights reserved.