Mr. Tim Barry reports

ARRAS MINERALS TO MOBILIZE SECOND DRILL RIG TO ELEMES PROJECT, PROVIDES EXPLORATION UPDATE, AND ANNOUNCES TERMINATION OF BESKAUGA OPTION AGREEMENT

Arras Minerals Corp. is mobilizing a second drill rig to its phase 2 drill program at the Elemes project. The drill rig is expected to arrive and commence activity later this month. This follows the successful completion of both a ground magnetic survey and a vector induced polarization (IP) survey over the Berezski and Aimandai targets.

Exploration activities are also progressing rapidly on the Arras-Teck strategic alliance properties. Notably, the company has completed an 80-line kilometre pole-dipole IP survey across key targets and has commenced a 5,000-metre drill program focused on high-priority zones.

Highlights include:

• Completed a 1,000-line-kilometre ground magnetic survey and a 65-square-kilometre vector IP survey over the Berezski and Aimandai targets at the Elemes project;
• Commenced the phase 2 drill program at the Berezski target, following up on significant intercepts, including:
  • 547 metres at 0.70 per cent copper equivalent on the Berezski North area (hole EL24005);
  • 261 metres at 0.64 per cent copper equivalent on the Berezski Central area (hole EL24001);
• A second drill rig is expected to arrive at the Berezski target over the next three to four weeks to accelerate the phase 2 Elemes drill program.

Tim Barry, chief executive officer of Arras Minerals, commented: "We're pleased to report strong early momentum in our 2025 field program, with the successful completion of both ground magnetic and vector IP surveys over the Berezski and Aimandai targets, which are already sharpening our drill targeting efforts. With the phase 2 drill program now under way at Berezski, building on last year's significant copper-gold intercepts, and a second rig arriving in the next few weeks, we're well positioned to accelerate exploration through the summer. It's an exciting start to what we expect will be a transformational year for Arras."

Elemes project

The completion of the ground magnetic survey and vector IP survey over the Berezski and Aimandai targets has significantly enhanced the geological understanding and drill targeting across key prospects within the Elemes project. These surveys have helped refine and prioritize drill-ready targets for the phase 2 drill program.

Berezski target

The ground magnetic survey has provided improved definition of structural trends and potential mineralized zones by association, especially at the Berezski Central and Berezski North targets, which were only partially tested during the 2024 drill program. Follow-up drilling is now under way, focusing on better understanding the controls and extent of the copper-gold mineralization. Additional high-priority targets along the trend recently identified will also be drill tested later in the year.

To complement the drill program, the company also plans to complete a magnetotelluric (MT) and gravity survey commencing later this month across the Berezski target to investigate opportunities for potential deeper mineralized systems.

Aimandai target

The ground magnetic and vector IP surveys at the Aimandai target have now been successfully completed, providing valuable structural and geophysical data to refine exploration targeting. Preliminary results from the vector IP survey have highlighted prospective zones that will be followed up with a focused pole-dipole IP survey to further delineate high-priority drill targets.

Drill prioritization is under way, with drilling expected to commence in the second half of 2025 based on the integrated interpretation of these completed data sets.

Beskauga option agreement termination

Arras has elected not to proceed with the $15-million (U.S.) option payment to Copperbelt AG for the acquisition of the Beskauga project and has formally terminated the option agreement. Attempts to secure a partnership agreement with a third party as well as parallel discussions with Copperbelt to explore alternative arrangements, did not result in a viable path forward.

The decision not to exercise the Beskauga option reflects Arras's strategic view that the capital would be more effectively allocated toward advancing new exploration opportunities and unlocking value across the company's 3,300-square-kilometre land package in Kazakhstan.

Qualified person

The scientific and technical disclosure for this news release has been prepared under the supervision of and approved by Matthew Booth, vice-president of exploration of Arras Minerals, a qualified person for the purposes of National Instrument 43-101. Mr. Booth has over 20 years of mineral exploration experience and is a qualified person member of the American Institute of Professional Geologists (CPG No. 12044).

About Arras Minerals Corp.

Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project. The company has established the third-largest licence package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December, 2023, the company entered into a strategic alliance with Teck Resources Ltd., in which Teck may sole finance a $5-million (U.S.) generative exploration program over a portion of the Arras licence package in 2024 to 2025. The company's shares are listed on the TSX Venture Exchange under the trading symbol ARK and on the OTCQB under the trading symbol ARRKF.

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