One Bullion Commences High-Resolution Airborne Geophysical Survey at Vumba Gold Project in Botswana and Appoints Joe Van Wyk as Vice President, Exploration

Xcalibur Smart Mapping Launches Survey Over Vumba License, Advancing One Bullion’s 2026 Exploration Strategy

Survey Results Expected to Drive Refinement of High-Priority Drill Targets Ahead of Maiden Drill Campaign at Vumba

Joe Van Wyk Appointed Vice President, Exploration, to Lead the Company's Expanding Exploration Programs in Botswana

TORONTO, July 02, 2026 (GLOBE NEWSWIRE) -- One Bullion Ltd. (“One Bullion” or the “Company”) (TSXV: OBUL), a gold exploration company holding complete ownership of three highly prospective mining areas in Botswana, today announced that it has commenced a high-resolution airborne geophysical survey across its Vumba Project in Botswana.

The survey is being conducted by Xcalibur Smart Mapping, which began on July 2, 2026 and is expected to take approximately 10 days to complete. The program will cover the Vumba License area and will be followed by a subsequent survey over the Company’s Maitengwe project to the north. The program marks a pivotal step in advancing One Bullion’s exploration strategy toward the definition and prioritization of drill targets.

“This is a significant step forward for One Bullion as we continue to systematically advance Vumba toward drilling and reflects the disciplined, data-driven approach that underpins everything we do,” said Adam Berk, Chief Executive Officer of One Bullion. “This survey moves us decisively into the next phase of our exploration program. Integrating the geophysical data with our recent high-grade artisanal workings results will allow us to refine our drill targets with confidence as we advance toward a maiden drill campaign at Vumba. With strong momentum across the project, we look forward to providing further updates as results become available.”

Highlights

• High-resolution airborne geophysical survey commenced over the Vumba License, conducted by Xcalibur Smart Mapping, beginning July 2, 2026
• Survey expected to take approximately 10 days to fly the Vumba License, followed by a survey of the Maitengwe project to the north
• Initial survey results and interpretation anticipated by late July 2026
• Geophysical data to be integrated with the Company’s geology, drill database, sampling, and recent high-grade assay results to refine and prioritize drill targets
• Appointed Joe Van Wyk as Vice President, Exploration, a geologist with more than 20 years of international mining experience, to provide on-the-ground oversight of the Company’s field operations in Botswana
• Maiden drill campaign at Vumba is fully funded and planned to follow the survey, targeting ~3,000 meters expected to commence August 2026
  
  

Geophysical Survey at Vumba
As previously announced, One Bullion engaged Xcalibur Smart Mapping to conduct a high-resolution airborne, horizontal-gradient magnetic survey across the Vumba License area, to be followed by the same survey configuration of the Maitengwe project. The survey is expected to deliver detailed structural and lithological insights that will significantly enhance target definition at depth and along strike within the broader greenstone belt. The integration of geophysical data with the Company’s drill database, geological mapping, sampling, and assay results, including the recently reported high-grade gold results at Vumba, is expected to accelerate the refinement and prioritization of high-confidence drill targets across the emerging Vumba mineralized corridor.

Strengthening the In-Country Exploration Team
To support its expanding exploration program initiatives in Botswana, One Bullion has appointed Joe Van Wyk as Vice President, Exploration. Mr. Van Wyk is a geologist with more than 20 years of international experience spanning exploration, feasibility, and project development. He began his career as an exploration and resource geologist with AngloGold Ashanti and Gold Fields, leading regional target generation and quality-assurance/quality-control programs across Africa, the Americas, and Australia. He subsequently led feasibility and resource modelling as a Senior Resource Geologist with TWP Projects / WorleyParsons. More recently, he has held senior executive and advisory roles across the African mining sector, including as Founder and Chief Executive Officer of KiBOKO Consulting. Mr. Van Wyk holds a BSc and a BSc (Honours) in Geology from the University of Pretoria, South Africa. Based in Botswana, Mr. Van Wyk will lead overseeing the on-site exploration activities, the field camp, and the Company’s geological team, providing full operational oversight as drilling preparations advance. His appointment strengthens the Company's technical leadership as it advances Vumba toward its maiden drill program and continues to unlock the broader potential of its Botswana assets.

Next Steps
Upon completion of the Vumba survey, the Company expects to receive and interpret the geophysical data over an approximately 10-day period, with the goal of integrating these results into refined drill targeting. One Bullion is concurrently advancing toward its maiden drill campaign at Vumba, and is currently negotiating a drilling contract and finalizing contract terms. Subject to survey results and contract execution, the Company is targeting a drill program of approximately 3,000 meters across approximately 15 holes (each ranging from surface to approximately 200 meters depth), expected to commence in August 2026. The Company will provide further updates as the survey progresses and as drilling plans are confirmed.

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 includes forward-looking information within the meaning of Canadian and U.S. securities laws. Statements containing the words “believe”, “expect”, “intend”, “should”, “seek”, “anticipate”, “will”, “positioned”, “project”, “risk”, “plan”, “may”, “estimate”, or, in each case, their negative and words of similar meaning, are intended to identify forward-looking information. Forward-looking information, including but not limited to, the nature and timing of future exploration activities of the Company (including the geophysical survey and any planned drill program), the success of the Company’s existing and future business strategies and implementation (including with respect to potential future acquisitions, timelines for permitting and exiting of projects and potential return on capital), any resulting growth in the Company’s operations or financial performance as a result of such strategies and implementation, trends in the Company’s business or the mineral exploration industry, the prospective nature of the Company’s properties, the uncertainty of mineral resource estimations and the availability of funding are each subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information, including risks related to the regulatory and legal framework of the mineral resource industry; general business, economic and competitive uncertainties; market risks; risks with respect to permitting; risks that the Company not be able to develop its properties as currently proposed or at all, foreign currency risk and risks associated with the Company’s operations in Botswana. There may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Certain statements included in this news release may be considered “financial outlook” for the purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than evaluating the information in this news release. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. In addition, even if the outcome and financial effects of the plans and events described herein are consistent with the forward-looking information contained in this news release, those results or developments may not be indicative of results or developments in subsequent periods. There can be no assurance that the performance of the Company will be comparable to that achieved previously. Moreover, past performance is not indicative of future results. Forward-looking information contained in this news release is based on the beliefs and expectations of the Company’s management, which the Company believes are reasonable as of the current date, and are subject to significant business, social, economic, political, regulatory, competitive and other risks, uncertainties, contingencies and other factors. Many assumptions are based on factors and events that are not within the control of OBUL and actual future results may differ materially from current expectations. You should not place undue reliance on forward-looking information. Except as required by applicable law, the Company assumes no obligation to update or revise any forward-looking information in this news release to reflect new events or circumstances.

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, nor shall there be any sale of the securities of OBUL or any entity related thereto, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities of OBUL 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 such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such 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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