Mr. Adam Berk reports

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

One Bullion Ltd. has completed diamond drill hole VUDD018 at its wholly owned Vumba gold project in northeastern Botswana. VUDD018 marks the completion of the second hole of the company's approximately 3,000-metre 2026 diamond drilling program, with drilling under way on the third hole, VUDD019.

VUDD018 targeted the same Central-Makoba structure (VGT-01) as VUDD017, but was drilled as an oblique-angled hole, to cross the structure from a different direction. The goal was to test structural splays and intersections, vein stacking, and possible controls on shoot geometry while providing a second oriented-core view of the same system to build into the 3-D model.

Highlights:

• VUDD018 has been completed as the second hole of the 2026 program. The hole was designed as a 350-metre HQ drill hole, as an oblique structural test. Total depth of the hole was 350.85 m.
• These observations are preliminary visual descriptions, and do not establish gold grade, mineralized widths or economic significance.
• Preliminary lithological logging completed to date records an amphibolite-dominated sequence that is variably schistose, foliated and banded, with local carbonaceous, quartz-rich and garnetiferous intervals. Oxidized near-surface amphibolite passes into fresh rock at approximately 9.7 metres downhole.
• Alteration logging completed to date records repeated intervals of silicification and carbonate alteration, locally with chlorite, across multiple intervals. Sulphide logging identified arsenopyrite with lesser pyrite in disseminated, banded and vein or veinlet occurrences.
• Quartz and quartz-carbonate veining is common in the logged portion of the hole, including irregular and folded vein sets and local brecciation.

The drill has been moved to VUDD019 and has commenced testing a deeper northern portion of Central-Makoba on the property. The drill hole was oriented at 267 degrees true north and minus 69 degrees dip, with a planned total depth of 425 metres. This hole is designed to test whether the deeper hydrothermal and structural corridor observed in VUDD017 continues northward and at depth.

"VUDD018 was deliberately drilled across the target (VGT-01) from a different angle than VUDD017, and the preliminary logging is giving us an important second structural view of the system," said Adam Berk, chief executive officer of One Bullion. "With VUDD019 now under way as a deeper northern test, we are integrating the alteration, quartz-carbonate veining and sulphide styles observed in VUDD018 into our three-dimensional model, and laboratory assays remain essential to determining whether these visual hydrothermal features carry meaningful gold."

No assay results for VUDD018 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. Logged interval lengths are downhole lengths, and true widths are unknown.

VUDD018 -- Central-Makoba oblique structural hole

VUDD018 was designed to complement VUDD017 by crossing the Central-Makoba structural package obliquely. Logging is still under way, and the observations below therefore summarize the current state of the geological record rather than the final full-hole log.

The occurrence of sulphides, alteration and veining are not continuous across the intervals summarized above and should not be interpreted as a mineralized intercept. Their significance will be evaluated only after laboratory results, quality assurance/quality control review and geological/structural integration.

Sampling, analysis and QA/QC

Core logging, photography, cutting and sampling are progressing at the company's secure core facility. The company plans to sample the entire VUDD018 hole rather than only visibly altered or sulphide-bearing intervals. Half-core samples will be cut with a diamond saw at nominal one-metre intervals, adjusted to lithological, alteration and mineralogical contacts, with the remaining half-core retained for reference. Drill core will be sampled at nominal one-metre intervals, adjusted to geological contacts, with certified reference materials, blanks and duplicates included in the quality assurance and quality control stream for submission to ALS Laboratories in South Africa.

Certified reference materials, blanks and duplicates will be inserted as part of the company's QA/QC program. Samples are planned for transport under chain-of-custody procedures to ALS Laboratories in South Africa, an ISO/IEC 17025-accredited laboratory 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 grams per tonne gold are planned for gravimetric finish reassay (Au-GRA21), with additional checks as determined by the technical team and laboratory. Structural measurements are being collected where reliable core orientation is available. Geological, sampling and survey records will be reconciled in the company database, and assay results and associated QA/QC will be reviewed before public disclosure.

2026 drilling program and next steps

The approximately 3,000-metre HQ diamond program is focused on priority structural corridors at Vumba and is being executed by Mindea Exploration and Drilling Services Pty. Ltd. The program is managed by Joe Van Wyk, vice-president, exploration, and follows a decision-gated approach in which subsequent hole locations and orientations are refined as geological, structural, survey and assay information becomes available.

VUDD019 is now under way at Central-Makoba as a deeper northern test. The hole is designed to test continuity beneath and north of the deeper alteration/sulphidation packages observed in VUDD017 and to integrate the oblique structural information being developed from VUDD018. The approved geometry is 267 degrees true/minus 69 degrees, with a planned EOH of 425 metres. The company will continue updating the 3-D model as VUDD018 logging is completed and VUDD019 drilling advances.

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 VUDD018 are reported in this release. Analytical results will be disclosed following receipt, compilation, QA/QC review 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.

The company also announces today that it has amended its previously announced consulting agreement with SLD Capital Corp., which formerly provided for the issuance to SLD of 83,333 common shares of the company per month over a six-month term from June 1, 2026, to Dec. 1, 2026. Pursuant to the terms of the revised agreement, the parties have agreed that SLD will instead be paid an aggregate fee of $25,000 (U.S.) per month for the six-month term, which shall be satisfied by the issuance of common shares at prevailing market prices on a monthly basis. In this regard, the company will issue an aggregate of 281,268 common shares for the months of June, July and August, 2026 (or 93,756 common shares per month). All common shares issuable under the agreement will be subject to a statutory hold period of four months and one day following the date of issuance thereof. All future issuances of common shares remain subject to the approval of the TSX Venture Exchange.

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.