Mr. Adam Berk reports

ONE BULLION COMPLETES FIRST HOLE OF 2026 DRILLING PROGRAM AT VUMBA GOLD PROJECT

One Bullion Ltd. has completed diamond drill hole VUDD017 to a final depth of 380 metres at its wholly owned Vumba gold project in northeastern Botswana. VUDD017 marks the completion of the first hole of the company's approximately 3,000-metre 2026 diamond drilling program, with drilling under way on the next hole, VUDD018.

The hole tested the Central-Makoba target (VGT-01), a priority exploration area identified through the integration of high-resolution airborne magnetic data, historical drilling, trenching, soil geochemistry and surface sampling. VUDD017 was designed to test the downdip extension of the interpreted mineralized corridor and generate additional geological and structural data to refine the company's exploration model and guide follow-on drilling.

Highlights:

• VUDD017 completed to 380 metres at a collar azimuth of 269 degrees true and a dip of minus 58 degrees, predominantly using HQ-diameter diamond core.
• Logging records an amphibolite-dominated sequence with variable foliation and banding, silica-carbonate alteration, quartz-carbonate veins and veinlets, and locally observed sulphides.
• The company will sample the full 380-metre hole at nominal one-metre intervals, adjusted to geological contacts, with additional quality control samples included in submissions to ALS Geochemistry in Johannesburg.
• Geological and structural observations are being incorporated into the 3-D model. Drilling of the second hole, VUDD018, has commenced.

"The completion of VUDD017 represents an important step forward in our 2026 exploration program," said Adam Berk, chief executive officer of One Bullion. "The core logging has identified veining, alteration and sulphides within the amphibolitic host rocks, providing valuable information to refine our geological model and help guide follow-on drilling. We are now progressing full-hole sampling while drilling continues on VUDD018. The resulting assays will be critical to determining the gold content and evaluating the significance of the geological observations identified in the core."

No assay results for VUDD017 are available. The geological descriptions in this release are based on visual core logging, and do not establish gold grade, mineralized widths or economic mineralization.

VUDD017 -- central Makoba anchor hole

VUDD017 was collared within the central Makoba target area to cross the interpreted mineralized corridor, which trends approximately north-south.

Preliminary geological observations

The hole intersected shallow soil cover and oxidized amphibolitic rock before entering fresh amphibolite at approximately 8.9 metres. The bedrock sequence is predominantly amphibolitic, varying from massive to foliated, schistose and banded, with locally quartz-rich intervals and two narrow intervals logged as metasedimentary rock.

This is a lithological summary, not a table of gold intersections. Listed depths are downhole and do not represent true widths of mineralization. Alteration and sulphides are variably distributed, not continuous across the intervals.

Silicification is recorded as both banded and locally pervasive alteration of the host rock, as well as in quartz-bearing veins. Carbonate alteration and quartz-carbonate or calcite veins and veinlets recur at multiple depths, with local chlorite alteration and brecciation.

Visual logging identifies sulphides provisionally as pyrite and arsenopyrite, with some grains of uncertain identity. Sulphides occur locally within veins and altered wall rock and along foliation or banding. Their presence and distribution are not a measure of gold content. Geological observations are being evaluated against the target interpretation. The position, grade and continuity of any gold-bearing zones remain to be determined.

Sampling, analysis and quality assurance/quality control

Core logging, photography, cutting and sampling are progressing at the company's secure core facility. Sampling will cover the full 380-metre hole rather than only visibly altered or sulphide-bearing intervals. Half-core samples will be cut with a diamond saw at nominal 1.0-metre intervals, adjusted to lithological and mineralogical contacts. The remaining half-core will be retained for reference. Certified reference materials, blanks and duplicates will be included in the analytical submissions as part of the quality assurance and quality control program.

Samples will be bagged, sealed and transported under chain-of-custody procedures to ALS Laboratories in South Africa, an ISO/IEC 17025-accredited facility that is independent of the company. Gold analysis is planned by 30-gram fire assay with atomic absorption finish (Au-AA25), together with multielement analysis by four-acid digestion and ICP-AES (ME-ICP61a). Samples returning more than 10 g/t gold are planned for gravimetric finish reassay (Au-GRA21), with any additional checks determined by the technical team and laboratory.

Structural measurements have been collected where reliable core orientation was available. Geological, sampling and survey records will be reconciled in the company's database, and assay results and associated QA/QC will be reviewed before results are released. The company expects initial assays approximately four to six weeks after receipt of the samples by the laboratory, subject to turnaround times and any additional analytical or verification work.

2026 drilling program and next steps

The approximately 3,000-metre program comprises 10 planned HQ diamond holes across priority structural corridors at Vumba. The program is being executed by Mindea Exploration and Drilling Services Pty. Ltd., which mobilized in August, 2026, and is managed by Joe Van Wyk, vice-president, exploration.

The program uses a decision-gated approach: Initial holes test the geological framework, with subsequent locations and orientations refined using the geological observations, structural measurements and, when available, verified assays. Following completion of VUDD017, drilling has commenced on VUDD018. The company will continue integrating new information into its 3-D model while progressing sampling and laboratory submissions. Interpretation of the Maitengwe airborne geophysical survey continues in parallel to support future targeting.

Cautionary note regarding visual observations

Visual identification of alteration, sulphides and quartz-carbonate veins is preliminary, and is not a substitute for laboratory analysis. These observations do not establish gold grade, gold-bearing interval lengths, continuity or economic significance. No gold assays from VUDD017 are reported in this release. Analytical results will be disclosed following receipt, compilation and verification.

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.

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.