Mr. Tim Barry reports

ARRAS MINERALS ACQUIRES THE HIGHLY PROSPECTIVE "TAY" PORPHYRY COPPER TARGET IN KAZAKHSTAN

Arras Minerals Corp. has been granted the Tay exploration licence. The licence covers 118 square kilometres in northeastern Kazakhstan and is located within the Bozshakol-Chingiz magmatic arc, an underexplored emerging porphyry province. Tay is located 28 kilometres to the north of the Bozshakol open-pit copper-gold mine which is operated by Kaz Minerals. Tay is 100 per cent owned by Arras and is not included in the Teck-Arras strategic exploration alliance announced on Dec. 7, 2023.

Tay project highlights:

• 6.5 km by 2.1 km east-west-trending coherent Soviet-era induced polarization (IP) chargeability anomaly comparable with the Soviet-era chargeability high of the Bozshakol open-pit copper-gold mine;
• A buried target with no systematic modern exploration;
• Located 28 km north of the Kaz Mineral's Bozshakol mine, a significant copper-gold operation with over one billion tonnes of reserves, producing over 100,000 tonnes of copper annually;
• Strategically situated with outstanding accessibility and local infrastructure, including nearby high-voltage power lines, railway and roads.

Tim Barry, chief executive officer of Arras Minerals, stated: "It's rare to find such a promising porphyry prospect in proximity to a major operational open-pit copper-gold mine like Bozshakol, located 28 kilometres south. The historical Soviet-era IP anomaly at Tay mirrors the scale and strength of the anomaly at the Bozshakol deposit, which was also completed during the same era. Tay's geology is buried beneath recent sediments, and is categorized as a blind target, and as far as we know remains unexplored. The typical sediment cover in this region is relatively shallow from 10 to 40 metres. The full size and scale of the Tay IP anomaly is unknown, but it is quite clear it continues to the west. We remain impressed by the straightforward access, and the potential for exploration discoveries in Kazakhstan, which, when coupled with the uncomplicated permitting processes, and the outstanding infrastructure, facilitate rapid and cost-efficient exploration."

The Tay project is located 28 km north from Kaz Mineral's Bozshakol mine, and 85 km from Arras's operational base in the city of Ekibastuz, northeastern Kazakhstan. The property covers 118 square km in northeastern Kazakhstan and is located within the Bozshakol-Chingiz magmatic arc, an underexplored, emerging porphyry province.

A paved four-lane highway to within 35 km of the property boundary, with access provided via by several good-quality roads, run through the licence. High-voltage power lines, heavy rail and local towns all lie within a 45 km radius of the project.

The Tay project is located within the Bozshakol-Chingiz metallogenic belt that includes the Bozshakol mine, as well as the Beskauga copper-gold-silver porphyry deposit currently under option by Arras, as well as Arras's 100-per-cent-owned Elemes project, an emerging copper-gold porphyry prospect.

Geology: A review of the Soviet-era geology maps indicate that the geology at Tay is dominated by volcano-sedimentary and sedimentary rocks cut by several major fault zones, intruded by a series intrusives stocks. It is thought that the historic chargeability anomaly is related to a porphyry-Cu-Au deposit that is covered by 20 to 30 metres of quaternary cover. The company is planning to conduct a property-wide airborne magnetic survey and top-of-bedrock drilling programs to better understand the property geology in 2024.

Qualified person: The scientific and technical disclosure for the Tay project included in this news release has been prepared under 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 19 years of mineral exploration experience and is a qualified person member of the American Institute of Professional Geologists (CPG 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 option agreement on the Beskauga copper and gold 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 in which Teck will sole-finance a $5-million (U.S.) generative exploration program over a portion of the Arras licence package in 2024 to 2025 focusing on critical minerals. The company's shares are listed on the TSX Venture Exchange under the trading symbol ARK.

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