Mr. Tim Barry reports

ARRAS MINERALS ANNOUNCES GRANT OF RESTRICTED SHARE UNITS

Arras Minerals Corp., in accordance with the company's equity incentive plan, has granted an aggregate of 1,495,484 restricted share units (RSUs) to certain officers as 2023 annual performance awards. The RSUs vest one year from the grant date (Feb. 27, 2024).

Additionally, an aggregate of 414,984 RSUs that were granted in February, 2023, as 2022 annual performance awards were settled as common shares of the company effective March 14, 2024.

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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