Vumba Geophysical Survey Completed and Maitengwe Survey Approximately 40% Complete as the Company Moves from Target Generation to Drilling
Maiden Diamond Drill Program of ~3,000 Meters to Begin in August 2026 with Mindea Exploration and Drilling Services (Pty) Ltd.
TORONTO, July 15, 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 an exploration update highlighting progress across its Botswana gold exploration portfolio.
The Company has achieved several key milestones, including the completion of geophysical surveying at Vumba, continued advancement of exploration at Maitengwe, and the full funding of its inaugural drill campaign, which is scheduled to commence August 2026.
"The completion of geophysics at Vumba, strong progress at Maitengwe, and the execution of our drilling contract mark key milestones as we transition from target generation into drilling," said Adam Berk, Chief Executive Officer of One Bullion. "Our technical team is integrating the newly acquired geophysical data with several years of exploration results to refine and prioritize the highest-quality drill targets. With funding secured and drilling scheduled to begin in August 2026, we are excited to commence this important phase and test the exploration potential of our Botswana portfolio."
Highlights
- Completed the high-resolution geophysical survey at the Vumba Gold Project, an important milestone in advancing one of Botswana's underexplored greenstone belts
- Geophysical survey at the Maitengwe Gold Project approximately 40% complete and progressing as planned
- Executed a diamond drilling contract with Mindea Exploration and Drilling Services (Pty) Ltd. for the initial phase of drilling in Botswana, with mobilization expected by August 2026
- Maiden program of approximately 3,000 meters of HQ diamond drilling scheduled to commence in August 2026
- Entire ~3,000-meter drill program fully funded
- Newly acquired geophysical data being integrated with the Company's extensive historical geological, geochemical and structural datasets to refine and prioritize drill targets
Geophysical Surveys at Vumba and Maitengwe
The Company has successfully completed its high-resolution geophysical survey at the Vumba Gold Project, marking an important milestone in advancing one of Botswana's underexplored greenstone belts. Geophysical surveys of this nature help to map stratigraphy and structures, delineating potential mineralized targets that are either not evident at surface, or where surface expression is too obscured by cover to identify trends. This enables more accurate drill targeting and improving the probability of exploration success.
At the Maitengwe Gold Project, geophysical surveying is progressing well, with approximately 40% of the program now completed. Data acquisition continues as planned, and the Company expects the survey to provide valuable information to refine and prioritize drill targets across the project.
As geophysical data is received, One Bullion's technical team, including interpretation and insights from Campbell & Walker Geophysics, has begun processing and interpreting the magnetic data for integration into the Company's extensive historical geological datasets. This work is expected to further enhance target definition ahead of future drilling campaigns across both project areas.
Maiden Drill Program
In preparation for drilling, the Company has executed a drilling contract with Mindea Exploration and Drilling Services (Pty) Ltd. to conduct the initial phase of diamond drilling in Botswana. Under the agreement, mobilization is expected to begin by August 2026, with drilling commencing shortly thereafter.
The inaugural program will consist of approximately 3,000 meters of HQ diamond drilling, scheduled to commence in August 2026. HQ-diameter core has been selected to maximize core recovery, geological logging quality and structural interpretation, providing the technical team with high-quality samples for geological, geotechnical and future metallurgical evaluation.
Importantly, the entire 3,000 meter drill program is fully funded, allowing the Company to execute the campaign without requiring additional financing.
Next Steps
The Company's exploration strategy continues to focus on systematically advancing its highly prospective land package through modern exploration techniques, disciplined target generation and phased drilling programs designed to maximize discovery potential.
Further updates will be provided as the company's exploration program advances.
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.
In other news, the Company also announces that it has granted an aggregate of 175,000 restricted share units to officer and directors of the Company.
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 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
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.
