TSXV: OBUL
TSXV: OBUL
VUDD018 Completed as an Oblique Structural Test at Central–Makoba; Preliminary Logging Identifies Repeated Silica–Carbonate Alteration, Quartz–Carbonate Veining and Sulfides
VUDD019 Underway as the Company Advances Approximately 3,000-Meter 2026 Program
Toronto, Ontario – October 1, 2026 – 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 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-meter 2026 diamond drilling program, with drilling now underway 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 three-dimensional model.
The drill has been moved to VUDD019 and has commenced testing a deeper northern portion of Central–Makoba on the property. Drillhole was oriented at 267° true north and −69° dip, with a planned total depth of 425 meters. 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 underway as a deeper northern test, we are integrating
the alteration, quartz–carbonate veining and sulfide 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 underway, and the observations below therefore summarize the current state of the geological
record rather than the final full-hole log.
| Current Logged Depth / Interval | Preliminary Observation |
|---|---|
| 0.0–9.7 m | Near-surface soil and oxidized/weathered amphibolitic rock, including fracture-controlled iron-oxide staining and local strong silicification. |
| 9.7–276.5 m logged to date | Predominantly fresh amphibolite, commonly schistose, foliated or banded, with local carbonaceous, quartz-rich and garnetiferous intervals. |
| Alteration logged to approximately 217 m | Repeated silica and carbonate alteration, locally with chlorite; styles include pervasive, banded, vein-controlled and fracture-controlled alteration, with locally strong to very strong intensity. |
| Sulfides logged to 203 m | Visually identified arsenopyrite is the dominant logged sulfide with lesser pyrite, occurring at multiple intervals in disseminated, banded and vein/veinlet-controlled styles. |
| Veining logged to 187 m | Quartz, calcite and quartz–carbonate veins and veinlets are common. Local intervals show irregular or folded vein geometry and local brecciation. |
The occurrence of sulfides, 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, QA/QC review and geological/structural integration.
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 sulfide-bearing intervals. Half-core samples will be cut with a diamond saw at nominal one-meter intervals, adjusted to lithological, alteration and mineralogical contacts, with the remaining half-core retained for reference. Drill core will be sampled at nominal one-meter intervals, adjusted to geological contacts, with certified reference materials, blanks and duplicates included in the quality assurance and quality control (“QA/QC”) 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 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 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.
The approximately 3,000-meter 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 underway at Central–Makoba as a deeper northern test. The hole is designed to test continuity beneath and north of the deeper alteration/sulfidation packages observed in VUDD017 and to integrate the oblique structural information being developed from VUDD018. The approved geometry is 267° true / −69°, with a planned EOH of 425 meters. The Company will continue updating the three-dimensional model as VUDD018 logging is completed and VUDD019 drilling advances.
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 surveys and the planned drill program), the timing of drill mobilization and commencement of drilling, 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, the availability of funding, the issuance and settlement of securities of the Company under its restricted share unit plan, the anticipated issuance of common shares to SLD Capital Corp. as consideration for services during the six-month term of its consulting agreement, the receipt of acceptance of the TSX Venture Exchange in respect of such issuances, and the anticipated benefits to the Company of the services to be provided under that agreement 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; the risk that the TSX Venture Exchange does not accept, or delays acceptance of, the share issuances described in this news release; the risk that the consulting agreement with SLD Capital Corp. is terminated, is not further extended, or that the services contemplated by it are not performed or do not produce the anticipated benefits; the dilutive effect on existing shareholders of the issuance of common shares and the settlement of restricted share units; 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
Investor Contact:
KCSA Strategic Communications
Jack Perkins or Valter Pinto
T: 212-896-1254
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.
