Mr. Adam Berk reports

ONE BULLION LIMITED PROVIDES GOLD MARKET UPDATE AND PORTFOLIO PROGRESS

One Bullion Ltd. has provided a market update and an overview of recent exploration progress across its district-scale gold portfolio in Botswana.

Gold has continued its strong performance as a premier investment and hedge asset, with spot prices recently reaching all-time highs above approximately $4,600 per ounce, more than double prior historic peaks, reflecting robust safe-haven demand amid geopolitical and macroeconomic uncertainty and expectations of accommodative monetary policy.

Gold continues to demonstrate resilience as an investment asset, supported by sustained central bank buying, elevated geopolitical and macroeconomic uncertainty, and continuing concerns around currency debasement, and long-term fiscal discipline. Despite periods of volatility driven by interest rate expectations, gold has remained well supported by strong physical demand and its role as a portfolio hedge against inflation, financial instability and policy risk. As investors increasingly focus on real returns and capital preservation, gold's strategic importance within diversified portfolios remains intact, providing a favourable backdrop for high-quality gold exploration assets.

"Gold is reasserting itself as a monetary asset at a time when confidence in traditional financial systems is increasingly being tested," said the chief executive officer, Adam Berk. "Sustained central bank buying, structural supply constraints and long-term capital rotation into hard assets continue to support a strong outlook for gold."

"One Bullion is built for this environment. We control large, district-scale land packages in proven, mineral-rich greenstone belts and have moved beyond early stage exploration by delivering tangible technical results and advancing multiple projects toward drilling. With 65 kilometres of strike control at Kraaipan, 26 priority targets already defined and strong grades in drilling from Vumba, we believe the company offers shareholders meaningful leverage to gold as we capitalize a historically strong gold environment."

Against this backdrop, One Bullion has positioned itself with large-scale exposure to Archean greenstone belts, combining proven geological endowment with modern, disciplined exploration.

Kraaipan greenstone belt -- Botswana

One Bullion controls approximately 65 linear kilometres of strike along the western limb of the Kraaipan greenstone belt in Botswana which contains multiple past-producing mines, and the currently operating Kalgold mine, operated by Harmony Gold. The Kalgold mine has been in continuous production since 1996 and based upon public disclosure by Harmony Gold, as of June 30 reported proven and probable reserves of 610,864 ounces of gold, a measured and indicated resources of 1.58 million ounces of gold, and inferred resources of over 643,000 ounces of gold. The foregoing mineral resources and mineral reserves are located off property and do not form part of any properties held by One Bullion.

Despite this endowment, the Botswana extension remains under explored using modern exploration techniques, providing One Bullion with a strong opportunity to build on its proximity to such a prolific producing gold mine.

The company has completed an extensive induced polarization (IP) survey, identifying 26 high-sulphide priority targets, exhibiting geophysical signatures consistent with known gold-hosting systems elsewhere in the belt. These targets provide a robust pipeline for systematic follow-up. results from recent mapping and prospecting program are pending.

Vumba greenstone belt -- Botswana

The Vumba greenstone belt, located in Botswana, lies within a highly prospective and historically worked gold region, with evidence of widespread mineralization associated with shear zones and intrusive contacts.

Exploration to date has confirmed a large, structurally controlled gold system underpinned by extensive work, including systematic soil sampling, approximately 17 kilometres of trenching, 11 km of reverse circulation drilling and three km of diamond drilling.

Historic surface sampling highlights from within the property include:

• OB1080 to 116 grams per tonne Au;
• OB1081 to 44.5 g/t Au;
• OB1073 to 32.9 g/t Au;
• OB1070 to 19.7 g/t Au;
• OB1069 to 13.9 g/t Au;
• OB1065 to 12.7 g/t Au;
• OB1088 to 8.79 g/t Au.

Historic drilling highlights include:

• SD071: 41.50 to 44.00 m (2.50 m at 42.82 g/t Au);
• SR033: 23.00 to 24.00 m (1.00 m at 30.02 g/t Au);
• SR043: 18.00 to 21.00 m (4.00 m at 9.63 g/t Au);
• SR088: 54.00 to 61.00 m (7 m at 6.30 g/t Au);
• SR041: 3.00 to 14.00 m (11.00 m at 6.03 g/t Au);
• SR083: 8.00 to 28.00 m (20.00 m at 1.97 g/t Au).

These results confirm the presence of a continuous gold system with meaningful expansion potential. The company plans to undertake a detailed magnetic survey followed by additional drilling during 2026 to further delineate known mineralized zones and test undrilled targets.

Maitengwe greenstone belt

The Maitengwe greenstone belt represents an emerging, early stage discovery opportunity. To date, approximately 47 kilometres of greenstone belt identified and grab samples returning gold values from below detection to the highest, which was 4.7 g/t Au, confirming a fertile mineralizing environment.

A property wide magnetic survey is planned for Q1 2026, followed by initial drilling in Q2 2026, adding a further near-term target to the company's exploration pipeline.

With multiple projects advancing toward drill-ready status and a clear exploration road map for 2026, One Bullion remains focused on disciplined execution, capital efficiency and systematic discovery. The company will continue to provide shareholders with regular updates as key technical milestones are achieved.

Technical disclosure

Potential quantity and grade is conceptual in nature.

All scientific and technical information contained herein has been reviewed and approved by Rory Kutluoglu, PGeo, a qualified person and independent to One Bullion, as defined in National Instrument 43-101.

RSU (restricted share unit) grant

In addition, the company announces that it has granted an aggregate of one million restricted share units to a director and officer of the company. The restricted share units are each convertible into one common share of the company for no additional consideration, and vest on Jan. 15, 2027.

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.