May 22 2024Reviewed by Lexie Corner
Bedford Metals Corp. announced that, following a successful diligence review, it has decided to enter into a definitive option agreement (the “Agreement”) with an arm’s-length party. This agreement grants Bedford Metals the rights to acquire the Close Lake Uranium Project, further expanding the company’s mineral project portfolio.
Situated on the eastern edge of the Athabasca Basin, the Close Lake Uranium Project shares boundaries with Cameco Corporation's holdings, the world's biggest producer of uranium. The Keys Lake, Cigar Lake, and McArthur River mines are located within the primary exploration corridor, which encompasses approximately 245 hectares of the Project. The property is accessible through a network of trails and roads.
After completing due diligence, Bedford decided to move forward with a definitive agreement since it saw the Project’s potential to support the Company's strategic goals. The Project's encouraging qualities are consistent with Bedford's dedication to building shareholder value by developing superior mineral projects.
We are thrilled to move forward with the Close Lake Uranium Project, which marks another step in our journey to build a world-class mineral project portfolio. I want to extend my gratitude to the entire team for their hard work through the diligence process and ongoing effort to unlock value for our shareholders.
Peter Born, President, Bedford Metals Corp.
Bedford is still dedicated to sharing more information about its exploration plans for the other exploration programs, including the Close Lake Uranium Project. Bedford is committed to conducting ecologically conscious exploration activities and developing cooperative relationships with nearby communities and indigenous nations under its core values. The company's operations prioritize environmental stewardship, and it is dedicated to maintaining the strictest guidelines for responsible resource development.