One Bullion Limited · TSXV:OBUL
One Bullion — Investor Presentation (December 2025)
21 slides from One Bullion's investor presentation, December 2025
Slide 1: Largest Gold Exploration Company in Botswana
LARGEST GOLD EXPLORATION COMPANY IN BOTSWANA TSX.V: OBUL CORPORATE PRESENTATION I DECEMBER 2025 4 01 - 13 0 S PA D I N A AV E . T O R O N T O , O N , M 5 V 2 L 4 INFO@ONEBULLION.COM I ONEBULLION.COM
Slide 2: Disclaimer
DISCLAIMER Reserves. There is also no certainty that these Inferred Mineral Resources will be converted to the Measured and Indicated Mineral Resource categories through further drilling, or into Mineral Reserves, once economic considerations are applied. FORWARD-LOOKING INFORMATION The information
Slide 3: Board & Management
BOARD & MANAGEMENT PETER SHEPPEARD STUART HENSMAN DIRECTOR, COMPENSATION COMMITTEE CHAIR DIRECTOR, AUDIT COMMITTEE CHAIR With over three decades of experience in mining and finance, Mr Hensman has held various leadership positions including Chairman Peter has spent 10 years in underground mining and
Slide 4: Capital Structure
CAPITAL STRUCTURE * 172,193,791 14,961,743 22,890,000 ISSUED & OUTSTANDING WARRANTS OPTIONS *EXERCISE OPTIONS FROM ESOP: AVERAGE EXERCISE PRICE $0.24/SHARE WARRANTS STRIKE PRICE $0.48/SHARE Confidential and Proprietary. Copyright © One Bullion Ltd. All Rights Reserved. Confidential and Proprietary.
Slide 5: Mining in Botswana
MINING IN BOTSWANA Consistently Ranked Among Botswana is vastly the World’s Leading Mining Jurisdictions for: under explored ADMINISTRATION / ENFORCEMENT OF LABOR REGULATIONS / and ranks as one RELATIONS REGULATIONS of the Top Mining ENVIRONMENTAL SECURITY REGULATIONS Investment in Africa. LEGAL SYS
Slide 6: An Unmatched Gold Exploration Opportunity
An Unmatched Gold Exploration Opportunity EXTENSIVE GOLD FAVORABLE LANDHOLDING EXPLORATION JURISDICTION One Bullion controls Access to three greenstone Botswana’s stable government, 8,004 km² of exploration belts with 26 gold-rich pro-mining policies, and strong area in Botswana, featuring occurrenc
Slide 7: A Pipeline of Potential Gold Projects
A Pipeline of Potential MAITENGWE GOLD PROJECT PHASE 1 Gold Projects • Drilling program to target shallow high-grade gold Phase 1: Drilling program targets shallow high-grade gold Phase 2: Focus on the large opportunity within the Kraaipan Greenstone Belt. VUMBA GOLD KRAAIPAN GOLD PROJECT PROJECT PH
Slide 8: Botswana's Gold-Rich Greenstone Belts
Botswana’s Gold-Rich ARCHEAN GREENSTONE BELT ZIMBABWE CRATON MAITENGWE PROJECT Greenstone Belts VUMBA PROJECT BLANKET MINE ZIMBABWE 1.5 MILLION OUNCES OF GOLD KRAAIPAN PROJECT PRODUCED SINCE THE M I N E ’S I N C E P T I O N ² KRAAIPAN KALGOLD MINE CRATON SOUTH AFRICA KRAAIPAN 75,416 GREENSTONE OUNCE
Slide 9: Vumba Gold Project
VUMBA GOLD PROJECT Exploration at Vumba is currently focused on PL 153-2016 and situated on the same greenstone belt as Zimbabwe’s Blanket Gold Mine. IP survey conducted, initial trenching and drilling completed. Au-drill intercepts and multiple mineralization styles to be further tested DRILLING •
Slide 10: Vumba Gold Project
VUMBA GOLD PROJECT SR083 – 1.74 g/t Au over 23 m from 5 m 1,150m Key Highlights: • Broad, consistent mineralization starting right at surface points to good potential for open-pit development. • SD071: 4m @ 26.86 g/t Au SR084 – 1.41 g/t Au over 17 m from 30 mm (Highest grade) • SR085: 26m @ 1.11 g/t
Slide 11: Trenching Program
TRENCHING PROGRAM Drill Hole From (m) To (m) Interval (m) Au g/t weighted Avg. VUDD005 23 24 1 20.9 2022 drilling confirmed historic drilling and demonstrated high- VUDD016 34 35 1 11.6 grade mineralization at Vumba. VUDD016 58 59 1 15.25 Mineralization occurs as quartz VUDD003 71 72 1 6.45 veins, s
Slide 12: Vumba Mineralization
VUDD003, 142-144m:1.96g/t Au VUMBA MINERALIZATION Mineralization resembles characteristics of deposits in VUDD012, 90-91m:13g/t Au the region. Pervasive ‘flood silica’ alteration, suggesting more bulk tonnage potential. Previous exploration focused on veins. ¹Potential quantity and grade is conceptu
Slide 13: Vumba Drilling
VUMBA DRILLING Our team and core facility located near the Vumba project facilitated efficient operations. The drilling crew maintained strong recovery rates without incurring any damage to veins, which resulted in outstanding production performance. Core from VUDD-007 Core from VUDD-002 Confidentia
Slide 14: Maitengwe Gold Project
MAITENGWE GOLD PROJECT The Maitengwe Gold Property covers 132 km² and is situated between the developed town of Tutume and the Zimbabwean border. 582.15 km² I 143,852 ACRES Confidential and Proprietary. Copyright © One Bullion Ltd. All Rights Reserved. Confidential and Proprietary. Copyright © One B
Slide 15: Maitengwe Targets
MAITENGWE TARGETS Preparation work for the continuation of geophysical IP has already started and more than 80 kilometers of bush clearing has been completed. Gold targets have been compiled by comparing magnetic, gravity and geology to known deposits and refined to identify these high priority targ
Slide 16: Kraaipan Gold Project
KRAAIPAN GOLD PROJECT • 49 Identified Gold Targets • Previous work near-surface exploration by Reunion Mining in 1997 (best intercepts 13m@1.71g/t, 5m@2.29g/t)¹ • Phase 2 will undertake a 20,000m Drill Program on the Kraaipan Greenstone belt ¹Mdze, M. (2021). Gold mineralisation potential of the Kra
Slide 17: Kraaipan - Madibe Greenstone Belt
“KRAAIPAN” - MADIBE GREENSTONE BELT • Limited exploration on the Stella Limb in Botswana due to Kalahari sand dune cover. • ~3.03-billion-year-old volcanic sedimentary terrain • Stella Limb (western limb): Hosts layered intrusive rock with ~60m of platinum group metal mineralization linked to dismem
Slide 18: Unlocking the Potential of Kraaipan
UNLOCKING THE POTENTIAL OF KRAAIPAN The SLI is a layered gabbro to magnetite-rich gabbro (magnetite) intrusion that hosts ARM’s Kalplats deposits and lies along strike from Harmony’s Kalgold trend in the Kraaipan greenstone corridor. Two Major Deposit Types for Exploration: 1. Gold in Banded Iron Fo
Slide 19: Phase 1 Timeline
PHASE 1 TIMELINE ACTIVITY NOV DEC JAN FEB MAR APR JUN JUL AUG SEPT OCT NOV Vumba Surface/Soils Vumba Airborne Mag Vumba Drilling Maitengwe Airborne Mag Maitengwe Drilling Modelling/Interpretation Engineering Confidential and Proprietary. Copyright © One Bullion Ltd. All Rights Reserved. Confidential
Slide 20: Estimated Project Budgets
ESTIMATED PROJECT BUDGETS MAX MAX VUMBA MIN SPEND. 4,800 M DD KRAAIPAN MIN SPEND. 4,800 M DD PROGRAM PROGRAM SURFACE PROGRAMS $56,420 $343,056 $370,776 AIRBORNE SURVEY - - $373,884 (SUB TOTAL PRE-DRILLING) $56,420,420 $343,056 $370,776 INTERP & MODELING DIAMOND DRILLING $0 $1,053,760 $1,053,760 (SUB
Slide 21: The Largest Gold Exploration Company in Botswana
The Largest Gold Exploration Company In Botswana Confidential and Proprietary. Copyright © One Bullion Ltd. All Rights Reserved.