TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) -- One Bullion Ltd. (TSXV: OBUL) (“One Bullion” or the “Company”), a gold exploration company holding complete ownership of three prospective exploration projects in Botswana, today announced a consolidated summary of historical drilling and trenching results from its wholly owned Vumba Gold Project in Botswana, along with an update on ongoing exploration work. The historical results which have not been previously disclosed in the Company’s news releases. They form part of the exploration database now being integrated with airborne geophysics and geological information from the 2026 drilling program.

“The historical results at Vumba provide an important addition to our understanding of the project and reinforce the exploration potential we see across the property,” said Adam Berk, Chief Executive Officer of One Bullion. “By bringing together previously undisclosed drilling and trenching results with our 2026 exploration data and airborne geophysics, we are building a more complete picture of the project's gold mineralization and identifying opportunities to advance the highest-priority targets. We believe this integrated approach will help us deploy exploration capital more efficiently, focus future drilling on the most prospective areas and continue building value for shareholders.”

The consolidated data highlights gold mineralization at surface and in drilling, and places those results within the regional geological setting. The Company is integrating these historical results with its 2026 drilling data and airborne geophysics to better define the geological controls on mineralization, refine priority exploration targets and identify opportunities for follow-up drilling to evaluate the potential extensions and continuity of gold mineralization.

Highlights

• Reverse circulation drilling returned 26.0 m at 2.60 g/t gold in SR033 and 28.0 m at 1.47 g/t gold in SR083.
• Diamond hole SD071 returned 13.0 m at 8.52 g/t gold, including 1.0 m at 101.81 g/t gold. The composite is strongly influenced by this one-meter sample.
• One Bullion’s diamond drilling returned 1.0 m at 20.90 g/t gold in VUDD005 and 1.0 m at 15.25 g/t gold in VUDD016.
• Trench VUT004 returned 3.5 m at 18.79 g/t gold, including 2.5 m at 26.12 g/t gold, providing additional evidence of gold mineralization at surface.

Drill intervals are downhole lengths and trench intervals are sampled lengths along the trench. True widths have not been established.

Building on the Exploration Record

Vumba has progressed from surface prospecting and sampling of old workings to systematic soil sampling, trenching, reverse circulation and diamond drilling, and ground and airborne geophysics. That work has established a series of gold-bearing positions with differing grades and interval lengths. The 2026 program adds geological observations and a higher-resolution geophysical framework against which the earlier results can be assessed.

The regional setting also provides useful context. Gold mining in the Gwanda and Tati greenstone belts demonstrates the occurrence of gold deposits in the broader southern Zimbabwe Craton. At Vumba, the exploration case rests on the results obtained on the property and the opportunity to test the geological controls on those results.

Regional Gold Mines and the Vumba Setting

Vumba lies within the greenstone terrain of the southern Zimbabwe Craton in northeastern Botswana. Across the wider region, the Gwanda belt in Zimbabwe hosts Blanket, Vubachikwe, Jessie, Freda and Farvic, while the Tati belt in Botswana includes Mupane, Golden Eagle, Map Nora and Signal Hill. These are separate greenstone belts containing gold deposits in a range of host-rock and structural settings. Figure 1 locates these mines and deposits relative to Vumba and One Bullion’s Maitengwe project. [1–4]

Published resource estimates and historical production accounts illustrate the mining history and range of deposits in the region. Blanket’s June 2026 underground estimate contains 2.178 million ounces of measured and indicated gold resources, with inferred resources reported separately. The historical Mupane inventory provides a Botswana reference, while the reported production at Vubachikwe, Jessie and Freda records gold already recovered from other parts of the Gwanda belt. The figures below retain their original dates and reporting categories. [1–3]

Table 1 Selected published information for regional gold mines

M&I = measured and indicated; P&P = proven and probable; Mt = million tonnes; oz = troy ounces. Inferred resources are shown separately. Production, resources and reserves describe different quantities and have not been combined. The Mupane figures are historical and do not represent a current remaining inventory; Golden Eagle is included in that inventory. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The regional information is drawn from the cited third-party disclosures; the older production accounts are historical reports, rather than current resource estimates. Mineralization and economic results at these properties are not necessarily indicative of mineralization or economic potential at Vumba. Their relevance is to the regional geological setting and the history of gold exploration and mining.

Figure 1 Regional greenstone belts and gold mines

The enlarged Maitengwe–Vumba panel places the two projects in their geographic setting. Maitengwe’s reported 580.75 km² project area is a landholding measure. The approximately 39 km north–south survey extent and approximately 68 km north–south span from the northern edge of the Maitengwe survey footprint to Vumba Central are geographic distances, not demonstrated mineralized strike lengths. Geological outlines, mine positions and the digitized survey footprint are generalized; the survey outline is not a surveyed license boundary. Insets have separate scales. Source credits are shown on the map; Maitengwe survey coverage is from the Company’s 14 October 2026 announcement. [4]

Exploration History and Historical Drilling

Documented modern exploration at Vumba began in 2005 with surface prospecting and sampling of old workings and dumps. Soil sampling and trenching during 2006 and 2007 included 7,464 soil samples and 33 trenches. Between 2006 and 2009, historical drilling comprised 110 reverse circulation holes totaling 6,749 m and nine diamond holes totaling 1,180 m. Ground induced polarization and magnetic surveys were undertaken in 2008.

One Bullion completed further surface work and regional targeting during 2019-2021, followed by 16 diamond holes totaling 3,589.6 m in 2022. A high-resolution airborne geophysical survey completed in July 2026 added information on rock packages, contacts and structures. A new diamond drilling program commenced in August 2026.

These campaigns provide both broad reverse circulation intersections and narrower high-grade diamond-core samples. They are evidence of gold at the tested positions and provide reference points for the current interpretation. Selected historical results are shown below; the variation in grade and interval length is part of the geological question being investigated. [5]

Table 2 Selected historical drilling results at Vumba

RC = reverse circulation; DD = diamond drilling. All lengths are downhole; true widths are unknown. “Including” rows lie within the preceding parent interval and are not additional meters. Reported composites are length-weighted averages that include lower-grade internal samples. Gold grades are rounded to two decimal places. The SD071 composite is strongly influenced by the 1.0 m sample at 101.81 g/t gold. The VUDD005 and VUDD016 results shown use the reported gravimetric determinations.

The broader RC intersections include SR033 at Makoba and the SR004 and SR083–SR085 results in the North area. Their distribution gives the Company several positions from which to evaluate the relationship between mineralization, host rocks and structure. The high-grade sample within SD071 is reported alongside its enclosing interval so that its influence on the composite is clear.

Surface Results and Geological Interpretation

Historical trenching adds surface observations to the drill record. The results range from longer, lower-grade intervals to short high-grade sections, including VUT004. Together with geological mapping and the drill data, these observations help locate gold-bearing positions and assess their relationship to the surrounding rocks. Selected results are shown in Table 3. [5]

Table 3 Selected historical trenching results at Vumba

From and to positions are measured along the trench. Sampled lengths are not established true widths. VUT004’s included 2.5 m interval uses the reported gravimetric assays; the 3.5 m parent interval also includes the adjoining 1.0 m sample grading 0.469 g/t gold. These are selected results and do not represent the average grade of the property.

Relating Known Gold Occurrences to the Airborne Data

The high-resolution airborne survey completed in July 2026 provides a common geophysical framework for comparing these historical occurrences. Magnetic patterns help trace rock packages, contacts and structural breaks, including features that may be difficult to follow from surface observations alone. The Company is assessing where the known gold-bearing positions coincide with those features and where similar geological settings warrant further testing. Magnetic response does not measure gold grade.

Figure 2 presents the first vertical derivative of reduced-to-pole magnetic data with hillshade and identifies four descriptive areas: North, Marula, Makoba and the southern Somerset / New Zone grouping. North includes the SR004–SR006 and SR083–SR086 area; Marula includes SR041, SR043 and SD076; and Makoba includes SR033 and SR088. The southern grouping includes Somerset, New Zone and the vicinity of VUDD016. It remains a provisional grouping for interpretation.

The four areas bring the historical evidence into a broader map presentation and are distinct from the three priority structural corridors identified for the initial 2026 drilling program. Their outlines organize the observations for further investigation; continuity within or between the areas has yet to be established. The Company is also integrating geological logs and multi-element geochemistry to assess gold associations with arsenic and sulfide mineralization and to distinguish host-rock packages.

This work will help define follow-up drilling to test specific geological relationships, including the orientation of mineralized structures, the position of higher-grade zones and the persistence of mineralization between existing drill holes and surface occurrences. Those questions connect the historical results to the next phase of exploration.

Figure 2 Vumba magnetic interpretation and historical gold occurrences

First vertical derivative of reduced-to-pole magnetic data with hillshade. Circles mark projected positions of selected assay intervals; squares mark gold-bearing collars where interval positions are unavailable. Dashed outlines are schematic interpretation guides and do not establish mineralized boundaries, true widths or continuity. The southern grouping is provisional. Base-image alignment and projected positions are approximate. Coordinates are WGS 84 / UTM zone 35S, shown in kilometers. Source: the Vumba project map and underlying exploration records.

Current Program and Next Steps

The 2026 diamond drilling phase has tested the Central and North Main areas. VUDD017 and VUDD018 were completed at Central, and VUDD019 tested North Main to a downhole depth of 315 m. The program has added core and geological observations to the historical exploration record.

During November, drilling is paused while the Company completes logging and sampling of existing core, progresses laboratory and check-assay work, and reviews the geological model. This includes the core from VUDD018 through VUDD020. The findings will guide the selection and sequencing of further work. Reverse circulation drilling is being considered for the next phase, with the scope and timing to be determined following the review.

The review will bring the new core observations, analytical work and airborne interpretation together with the historical drill and trench results. The next drilling decisions will depend on how consistently the observed geology and assays support the proposed structures and target areas. The aim is to improve the geological model and select follow-up tests that can establish the orientation and continuity of mineralization.

Analytical results from the 2026 program will be reported separately following the relevant technical review. The historical results in this release provide context for that work; further exploration is required to establish continuity, true widths and potential economic significance.

Historical Sampling and Data Verification

The historical results have been compiled from the Vumba exploration database, supporting assay records and the technical report effective April 27, 2025. The historical results and associated quality assurance and quality control information used in this compilation have been checked.

The assay database records gold analyses using Au-AA23, with Au-GRA21 gravimetric determinations where applicable. Drill and trench composites are calculated using length-weighted averages of the samples within the stated intervals. Primary and repeat determinations are not combined as additional sample lengths.

Further information on the exploration history and historical methods is available in the Company’s Technical Report on PL153/2016 in the Vumba Greenstone Belt, Botswana, effective April 27, 2025, including Sections 6, 9 and 10. This release does not report a mineral resource estimate or an economic assessment for Vumba.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Tim Raymond, Pr.Sci.Nat., a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Mr Raymond provides independent geological consulting services to the Company through RAYMEX (Pty) Ltd and has conducted site visits to the Vumba Gold Project.

The Company also announced today that it issued the previously announced shares to SLD Capital Corp for September services for an aggregate of 75,484 Common Shares and 97,125 for October. All Common Shares issuable under their approved agreement will be subject to a statutory hold period of four months and one day from the date of issuance.

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 stable and established mining 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 concerning geological interpretation, target evaluation, the completion of logging, sampling and analytical work, the timing of results, potential use of reverse circulation drilling and future exploration at Vumba. Such information reflects the Company’s current expectations and depends on assumptions concerning geological interpretations, funding, permits, access, personnel, contractors and laboratory capacity. Risks include unfavorable assay results, changes in geological interpretation, drilling and sampling difficulties, delays, costs and conditions affecting operations in Botswana. Actual results and work programs may differ materially. There is no assurance that further exploration will establish continuous or economic mineralization. Readers should not place undue reliance on forward-looking information. Except as required by applicable law, the Company undertakes no obligation to update this information.

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

Sources For Regional Information and Exploration Background

[1] Caledonia Mining Corporation, Blanket Mine resource update, announced 28 August 2026, effective 30 June 2026. Underground resource statement and reporting notes.

[2] Galane Gold Ltd., Annual Information Form dated 28 April 2022, printed pages 13–14. Mupane mineral resources and reserves effective 31 December 2021.

[3] Minxcon, 2017 technical report on the Blanket Mine, Item 22, Adjacent Properties. Historical production descriptions for Vubachikwe, Jessie and Freda.

[4] One Bullion, One Bullion Receives Final Maitengwe Airborne Geophysical Dataset and Provides Vumba Drilling Update, 14 October 2026. Regional survey coverage and dated drilling background.

[5] One Bullion, Technical Report on PL153/2016 in the Vumba Greenstone Belt, Botswana, effective 27 April 2025, including Sections 6, 9 and 10. Historical results also draw on the Company’s exploration database and supporting assay records.

Figure 1 retains the original map credits: MSA (2011), Minxcon (2022), Zhai et al. (2006), Bineli-Betsi et al. (2020), One Bullion (14 October 2026) and Natural Earth. Figure 2 is based on the Vumba project map and historical exploration data.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/368391ee-246b-4191-8c70-ff5a6dfecff6

https://www.globenewswire.com/NewsRoom/AttachmentNg/ac11fa16-5065-4613-9235-dd1e5b086c51

Figure 1

Regional greenstone belts and gold mines

Figure 2

Vumba magnetic interpretation and historical gold occurrences

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