I remember talking with a former Queens Cup Canadian High Power Rifle champion about this very subject.
He stated that there was a Canadian source for machined chamber adapters that would hold and fire .45-70 cartridges in the .450-577 M-H chamber. The chamber adapter and fired case would then be extracted and reloaded for the next shot. I first saw mention of this in an American Rifle magazine article about the national competitions at Connaught Ranges west of Ottawa. A couple of good friends, retired Canadian Forces weapons technician types are connected to all aspects of the shooting sports in Canada. I can ask them what the chamber adapter source is.
There is a proviso though. The standard .450-577 bore is somewhat larger than the standard .45-70 bore, and accuracy MAY suffer.
Rebarreling, of course is the most appropriate course, but also the most expensive.