Mr. Adam Berk reports

ONE BULLION COMMENCES 2026 DIAMOND DRILLING PROGRAM AT VUMBA GOLD PROJECT

Diamond drilling has commenced at One Bullion Ltd.'s flagship Vumba gold project in Botswana, marking the start of the company's 2026 exploration drilling program.

• Initial 3,000-metre HQ program targets three priority mineralized structural corridors identified through integrated geological, geochemical and geophysical review;
• Ten-hole HQ diamond program designed to define the orientation, continuity and plunge of mineralized structures; Maitengwe geophysical survey completed.

The planned program comprises approximately 3,000 meters of HQ diamond drilling across ten holes and follows a comprehensive integrated technical review of historical and recent drilling, trenching, surface geochemistry, geological mapping and the company's recently completed high-resolution airborne magnetic survey.

The program is designed to test the orientation, continuity and plunge of known mineralized structures and higher-grade shoots, with the initial drilling focused on three priority structural corridors where multiple independent data sets show the strongest convergence. The first hole of the program has now commenced.

"This is an important step forward for One Bullion and the Vumba gold project," said Adam Berk, chief executive officer of One Bullion. "Over the past several months, our technical team has brought together the historical drilling, recent surface work, geochemistry, geology and new high-resolution geophysics into a much clearer understanding of the structural framework. We are now testing the areas where multiple independent data sets point to the strongest potential for continuity and scale.

"The focus of this program is to move Vumba from identifying gold mineralization to defining the geometry, continuity and structural controls of the system. The results will help us build a stronger three-dimensional geological model, refine our understanding of the highest-priority zones and position the company for the next phase of systematic exploration."

Highlights

• Diamond drilling has commenced at the Vumba gold project, with the first hole of the 2026 program now under way.
• Approximately 3,000 metres of HQ diamond drilling is planned across 10 holes.
• Oriented HQ core will be used to obtain high-quality structural information and improve understanding of the orientation, continuity, and plunge of mineralized structures and higher-grade shoots.
• Integrated technical review completed, incorporating historical and 2022 drilling, trenching, surface geochemistry, geological mapping, and newly completed high-resolution airborne magnetic data.
• Three priority mineralized structural corridors selected for initial drilling based on the strongest convergence of geological, geochemical, drilling and geophysical evidence.
• Additional targets identified during the technical review remain within the company's exploration pipeline for evaluation during subsequent phases of drilling.
• Airborne geophysical surveying at the Maitengwe gold project has been completed and is currently being processed.

Integrated technical review at Vumba

One Bullion has completed a detailed integrated technical review of the Vumba gold project, combining the company's geological, geochemical, drilling and geophysical data sets into a unified exploration framework.

The review incorporated historical diamond drilling, trenching, surface sampling, geological mapping and recently completed high-resolution airborne magnetics.

Importantly, the resulting drill strategy does not treat Vumba as a collection of isolated magnetic anomalies. Instead, the magnetic data are being used to improve understanding of the geological and structural architecture of the project and is being interpreted alongside known gold mineralization, geochemistry, mapped geology and historical drilling.

The review identified three priority structural corridors where these independent data sets show the strongest overall convergence and where drilling is considered most likely to materially improve the company's understanding of the mineralized system.

The initial drilling program has therefore been designed to test both gold continuity and structural architecture, including potential bends, splays, intersections and higher-grade shoot controls. Additional targets identified during the review remain in the exploration pipeline and may be advanced as the geological model develops.

2026 diamond drilling program

The 2026 Vumba program is planned to comprise approximately 3,000 metres of HQ diamond drilling across 10 holes.

HQ-diameter diamond core has been selected to maximize core recovery and provide the geological and structural information required to build a more robust three-dimensional model of the mineralized system. Where ground conditions require enhanced preservation of broken, sheared or strongly altered material, appropriate core-recovery methods may be employed.

The program will use oriented core and systematic downhole surveying to allow the technical team to measure structural orientations and better understand the relationship between mineralization, veining, alteration and the host-rock architecture.

Drilling is specifically intended to investigate:

• Continuity of known mineralized structures at depth;
• Orientation and true geometry of mineralized zones;
• Controls on higher-grade shoots;
• Structural bends, splays and intersections;
• Quartz-vein and sulphide distribution;
• Alteration patterns associated with mineralization;
• Geological and geochemical vectors that may assist in identifying extensions of the system.

The company expects geological and structural information from the initial holes to be incorporated into the evolving three-dimensional model as drilling progresses, allowing subsequent holes to be refined where warranted by new data.

Initial priority areas

Central corridor

The Central area represents the company's highest-priority drilling target and contains a combination of known gold mineralization, historical drilling, high-grade surface occurrences and a structurally complex geological setting.

The new geophysical data provides additional definition of subtle structural and magnetic-fabric features through this area, while the geochemical data set indicates favourable sulphidation and alteration characteristics. The first hole of the 2026 program is testing this Central structural corridor.

South corridor

The South target contains a compact cluster of significant historical drilling, trenching and recent surface gold results associated with an interpreted steep structural and lithological corridor.

Drilling will test the continuity and geometry of this mineralized trend and help determine whether the South zone represents a discrete higher-grade shoot or part of a broader mineralized structural system.

North corridor

The North area contains established gold mineralization from previous exploration and shows a strong association between mineralization, arsenic, sulphidation and favourable mafic host rocks.

The 2026 program will test the deeper continuity of this system and investigate potential structural linkage between known mineralized positions.

Systematic geological and geochemical data collection

In addition to testing for gold mineralization, the 2026 drilling program is intended to generate a consistent high-quality geological, structural and geochemical data set across Vumba's target areas.

Diamond core will be systematically logged and analyzed for lithology, alteration, mineralization, veining, structure and geotechnical characteristics, providing a detailed foundation for interpreting the controls on gold mineralization.

The company will integrate this information with assay results, multielement geochemistry, magnetic susceptibility measurements, downhole orientation data and existing geophysical data sets to progressively refine the Vumba geological model.

This approach is designed to allow the technical team to distinguish between isolated gold occurrences and structurally coherent mineralized trends capable of supporting systematic follow-up exploration.

Maitengwe gold project

At the company's Maitengwe gold project, the recently commissioned airborne geophysical survey has been completed.

One Bullion's technical team is currently interpreting the results and integrating the new geophysical information with the project's existing geological, geochemical and structural data sets. The objective of this work is to refine and prioritize targets for subsequent exploration and potential drilling.

Completion of the Maitengwe survey means that the company is simultaneously advancing the technical understanding of another important component of its Botswana exploration portfolio while active drilling proceeds at Vumba.

Next steps

With diamond drilling now underway at Vumba, the company's immediate priorities include:

• Completion and geological logging of the initial HQ drill holes;
• Continuous structural and oriented-core data collection;
• Systematic sampling and laboratory analysis;
• Integration of new drilling information into the three-dimensional geological model;
• Refinement of subsequent drill positions based on results from the initial holes;
• Continued interpretation of the Maitengwe airborne geophysical survey.

Further updates will be provided as drilling progresses and assay results become available.

In other news, the company issued an aggregate of 875,000 earned restricted share units to officers and directors. The company has extended its consulting agreement with SLD Capital Corp. for an additional six-month term. As consideration for its continuing strategic business advisory services, SLD will be entitled to receive approximately 83,333 common shares of the company per month during the six-month term subject to the acceptance of the TSX Venture Exchange.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Rory Kutluoglu, PGeo, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, who is independent of One Bullion.

Analytical procedures and quality control

All samples will be submitted to ALS Laboratories in South Africa, an ISO/IEC 17025-accredited facility that is independent of the company. Samples will be prepared by crushing to 70 per cent passing two millimetres, riffle splitting and pulverizing a nominal 250 g split to 85 per cent passing 75 micrometres. Gold was determined by 30 g fire assay with atomic absorption finish (method Au-AA25), with samples returning results above the upper detection limit reassayed by gravimetric finish. Multielement analysis was completed by four-acid digestion with ICP-AES finish (method ME-ICP61a) for a 33-element suite.

Samples remained under the control of the company's geological personnel from collection through to transfer to a commercial freight contractor, for shipment to the laboratory. Samples are secured in sealed and numbered bags at the project site and transported in tamper-evident containers under documented chain of custody, with reconciliation of sample counts and seal integrity performed at the laboratory. In addition to the laboratory's internal quality control protocols, quality control samples will be inserted into the sample stream by the company, comprising certified reference materials, blanks and field duplicates. Certified reference materials have been selected to span the expected grade range, and blanks will be inserted to monitor for potential contamination between samples.

About One Bullion Ltd.

One Bullion is a Toronto-based gold exploration company focused on advancing high-quality gold assets in Botswana, one of Africa's most stable and mining-friendly jurisdictions. Established in 2018, the company controls approximately 8,004 square kilometres of prospective land across three greenstone belt-hosted gold projects, including Vumba, Kraaipan and Maitengwe. One Bullion's strategy centres on disciplined, data-driven exploration combining modern geological methods with advanced targeting to identify and test high-priority gold targets while maintaining a commitment to environmental stewardship, community engagement and long-term value creation for stakeholders.

We seek Safe Harbor.