I picked up a used Ultimate Varmint this week to see if I could get it to work with the Edge/Axis action. The answer is yes.
The first thing I did was relieve the rear for the weird trigger set up...

Then drilled the hole for the front and added a spacer. I also used some epoxy putty to make a mold for the recoil lug. I covered the recoil lug in grease, got the putty put in place and bolted it together..

I used the follower and mag from a BM, SA, SF, set up and it cycles nicely.
Here are the end results with a Hog Hunter .308 Barrel and a Tri Delta brake. I have a stainless brake on the way and will update with pics.


I also has an EGW mount, Burris XTR Lows, and a Weaver 3x12x50