Dr. Peter Born reports

BEDFORD METALS COMPLETES 2025 EXPLORATION PROGRAM AT SHEPPARD LAKE URANIUM PROJECT

Bedford Metals Corp. has completed its phase 3 exploration program at its wholly owned Sheppard Lake uranium project, which concluded at the end of December, 2025, and included a continuing field program. The fully financed drill program is scheduled to resume in the spring of 2026, drilling the TZ-2 showing, as well as TZ-1 and Warr Lake. The newly discovered Silica Cap zone at Warr Lake will also be explored with a high-resolution walking magnetometer survey and backpack drilling.

The field program consisted of three radiometric surveys in addition to prospecting and grab sampling. Radiometric surveys were conducted at three targeted locations: an area west of and adjacent to TZ-2, at TZ-1, and at an area west of Warr Lake. Radiometric data were collected on high-resolution grids with maximum count-per-second readings collected every 10 metres along 50-metre lines, with line intervals spaced at 25 metres. A total of 3,644 radiometric readings were recorded resulting in the delineation of several anomalous zones, particularly at the TZ-2 west and TZ-1 zones.

A total of 18 grab samples were collected while prospecting outcrop at TZ-1, west of TZ-2 and at Warr Lake with count-per-second readings up to 10,609 at the silica cap zone.

Solid ice coverage by the beginning of December allowed the team to visit the two islands in the centre of Warr Lake. The larger island to the east contained pink I-type granite, with a definitive increase in banding/metamorphism and had elevated count-per-second readings with hot spots ranging from 1,500 to 10,000 counts per second. The smaller island to the west exhibited a distinctly different lithology with massive coarse/pegmatitic silica/quartz flooding with minor amounts of plagioclase, which is believed to be a silica cap. This silica cap could be the upper reaches of a uranium-bearing pegmatite (alaskite style) or a basement-style basin deposit. Note that the Warr Lake islands are located adjacent to a north-south-trending fault and a northwest-southeast-trending EM conductor and are within 500 metres of the Athabasca basin boundary.

Due to extremely cold weather and resultant equipment problems, only 298.5 metres were drilled in total. This included the first hole (SHP-25-01), which had to be abandoned at 32 metres due to rods binding, and a second hole (SHP-25-02) that traced the same azimuth as hole 1 but a slightly steeper dip to reach a hole length of 266.5 metres. Both holes were intended to test the area directly south of the TZ-2 showing. A total of 74 samples with a maximum of 152 counts per second were collected.

In total, 92 samples (grab samples and drill core) were delivered to the SRC Geoanalytical Laboratory in Saskatoon for multielement, U3O8 (triuranium octoxide) and boron assay analyses.

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.

Qualified person

Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101 and the president of the company, and he is responsible for and has approved the technical information contained in this release.

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