Ex-England international Lescott, aged 35, and one-time Manchester United youngster Ebanks-Blake, 31, are both free agents.
Edwards, who watched his side beat Boston United 2-1 on Saturday, is happy to help out his old Molineux team-mates as they search for a new club – whether or not that turns out to be the Bucks.
“It’s beneficial to have lads with that sort of career and experience around,” he said.
“We can give a lot of information from the sidelines or in training but when there is players with real experience in the mix in there, the lads can only learn and benefit from that.”
Lescott, who won the Premier League title twice with Manchester City, has trained with the Bucks a couple of times this season.
Ebanks-Blake, who had a brief spell at Shrewsbury Town last term, enjoyed his first session with Telford last week.
“Sylvan trained with us in the week. He is a mate of mine,” said Edwards.
“At the moment he is obviously without a football club and I want to help him to get some fitness.
“If in turn he can help us, we’ll see. He’s a really good lad, first and foremost.
“His children go to our school, we’ll see each other on the playground most days.
“We had six to eight months together at Wolves.”
“He is a good lad, lives fairly locally and wants to do some training at the moment.
“We had Joleon train with us a couple of times earlier in the season.”
Meanwhile, Edwards has praised his in-form attackers.
Anthony Dwyer scored a sensational goal to seal the victory on Saturday.
That took his tally for the campaign to six while Marcus Dinanga is their top scorer with eight.
The Bucks chief added: “Anthony is on six goals and Marcus is on eight and Jordan (Murphy) can be deadly as well.”
“With them, you always have a chance. At the moment it’s just getting that balance right between defence and attack.
“You have to be effective in both boxes. We now have a bit more width higher up the pitch.
“It’s good to have different options and different ways of playing for different games.”