One Bullion completes first hole of 2026 drill program at Vumba

One Bullion Completes First Hole of 2026 Drilling Program at Vumba Gold Project

380 Meter Hole Completed at Vumba Central; Core Logging Identifies Silica–Carbonate Alteration, Quartz–Carbonate Veining and Sulfides; Full Hole Sampling Planned

Second Drill Hole Underway as Company Advances Approximately 3,000-Meter 2026 Program

TORONTO, Sept. 16, 2026 (GLOBE NEWSWIRE) -- One Bullion Ltd. (“One Bullion” or the “Company”) (TSXV: OBUL), a gold exploration company holding complete ownership of three highly prospective exploration projects in Botswana, today announced the completion of diamond drill hole VUDD017 to a final depth of 380 meters 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-meter 2026 diamond drilling program, with drilling now underway 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 down-dip 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 meters at a collar azimuth of 269° true and a dip of −58°, 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 sulfides.
• The Company will sample the full 380-meter hole at nominal one-meter 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 three-dimensional 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 sulfides 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. Collar details and the reported completed depth are set out below.

Hole	Easting (mE)	Northing (mN)	Elevation (m)	Azimuth (true)	Dip	Depth (m)
VUDD017	535,976	7,712,693	1,219	269°	−58°	380.0

Coordinates: WGS84 / UTM Zone 35S (EPSG:32735). Azimuth and dip are collar settings; negative dip is below horizontal. Depths are measured downhole.

Preliminary Geological Observations
The hole intersected shallow soil cover and oxidized amphibolitic rock before entering fresh amphibolite at approximately 8.9 meters. 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.

From (m)	To (m)	Lithology / Observation
0.00	1.20	Topsoil / soil cover.
1.20	8.86	Amphibolitic rock with near-surface weathering and oxidation.
8.86	108.72	Predominantly fresh amphibolite, variably massive, foliated, schistose and banded; local veining and silica–carbonate alteration.
108.72	109.27	Narrow metasedimentary interval.
109.27	330.60	Predominantly amphibolite with variable foliation, banding and quartz-rich intervals; repeated silica–carbonate alteration and veining.
330.60	333.10	Metasedimentary rock.
333.10	380.00	Amphibolite, locally foliated or quartz-rich, with variable silica–carbonate alteration and veining.

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 sulfides are variably distributed, not continuous across the intervals shown.

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 sulfides provisionally as pyrite and arsenopyrite, with some grains of uncertain identity. Sulfides 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 QA/QC
Core logging, photography, cutting and sampling are progressing at the Company’s secure core facility. Sampling will cover the full 380-meter hole rather than only visibly altered or sulfide-bearing intervals. Half-core samples will be cut with a diamond saw at nominal 1.0-meter 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 (“QA/QC”) 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 multi-element analysis by four-acid digestion and ICP-AES (ME-ICP61a). Samples returning more than 10 g/t gold are planned for gravimetric-finish re-assay (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-meter 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 three-dimensional 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, sulfides 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, P.Geo., 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
One Bullion Ltd. (TSXV: OBUL) 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 km² of prospective land across three greenstone belt-hosted gold projects, including Vumba, Kraaipan, and Maitengwe. One Bullion’s strategy centers 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.

Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and U.S. securities laws. Forward-looking information includes statements concerning the scope, sequencing and timing of the Company’s exploration program; completion of core sampling and submission to the laboratory; anticipated analytical methods and assay turnaround; continued drilling; integration of geological, structural and assay data into the three-dimensional model; the location and orientation of subsequent holes; and interpretation and future targeting at Maitengwe. This information is based on management’s current expectations and assumptions, including the availability of funding, personnel, contractors and laboratory capacity; continued access to the projects and maintenance of required permits; the ability to complete sampling and drilling safely; and the suitability of the available geological data for ongoing interpretation. Forward-looking information is subject to risks and uncertainties, including changes in geological interpretations, assay results that do not support visual observations, variable core recovery and sample representativity, drilling or equipment problems, weather and access constraints, permitting delays, laboratory backlogs, additional QA/QC or verification requirements, funding availability and risks associated with operations in Botswana.

Actual results, work programs, costs and timelines may differ materially from those expressed or implied. There is no assurance that further drilling will identify economic mineralization or that the current geological interpretation will be confirmed. Readers should not place undue reliance on forward-looking information. Except as required by applicable law, the Company undertakes no obligation to update or revise it as a result of new information, future events or otherwise.

Cautionary Note Regarding United States Securities Laws
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in a jurisdiction in which such offer, solicitation or sale would be unlawful. The Company’s securities have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, as defined in Regulation S under the U.S. Securities Act, unless an exemption from registration is available.

Contact Information:
Adam Berk, Chief Executive Officer
OneBullion@KCSA.com

Investor Contact:
KCSA Strategic Communications
Jack Perkins or Valter Pinto
T: 212-896-1254
OneBullion@KCSA.com

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