Mr. Tim Barry reports

ARRAS MINERALS COMMENCES GROUND IP SURVEY AT ELEMES PROJECT, KAZAKHSTAN

Arras Minerals Corp. has commenced an induced polarization survey on its 531-square-kilometre Elemes project in northeastern Kazakhstan, to help further define the most prospective drill targets.

Highlights:

• 125-kilometre-long pole-dipole induced polarization survey covering the entire Berezski 8.8 km by 1.5 km northeast-southwest-trending long copper soil anomaly (greater than 150 parts per million copper);

• Initial focus of the survey will be the 2.8 km by 1.6 km coherent molybdenum bull's-eye anomaly (greater than five ppm Mo) interpreted to be the core of untested porphyry copper-gold system; and

• The survey will also extend over the three km by 2.2 km Novi arsenic anomaly (greater than 25 ppm As) thought to be associated with a large high-sulphidation epithermal above a preserved porphyry deposit.

The commencement of the IP survey works follows the recent closing of an upsized financing in which the company successfully raised $5.2-million to support continuing exploration activities on the company's copper-gold projects in Kazakhstan.

The IP survey will cover the extensive Berezski copper anomaly, associated with highly altered diorites, that displays remarkably similar geological and structural characteristics to the Bozshakol copper-gold mine located approximately 60 km northwest.

Tim Barry, chief executive officer of Arras Minerals, announced: "With the recent completion of the $5.2-million equity financing, we are well positioned to advance our exploration programs on our key copper-gold projects across a number of targets areas. The start of the IP survey at the Berezski target on the Elemes project will assist with further defining high-priority targets ahead of drill testing in the following months this summer and fall."

Induced polarization survey

The IP and resistivity surveys are being undertaken by Aurora Geophysics of Astana, Kazakhstan. The survey includes 125 km of survey lines and will utilize a pole-dipole array with an electrode spacing of 200 metres, and an average line spacing of 500 m. The survey is designed to measure to a depth of around 250 m.

Mineralization in porphyry deposits is associated with sulphide minerals, predominantly pyrite and chalcopyrite, which makes the IP survey an important tool in targeting sulphide mineralization at depth and enhancing the definition of drill targets. Additionally, the resistivity function of the survey will assist in identifying silica enriched zones, another import vector tool for future drill planning.

The Berezski target is located within the 531-square-kilometre Elemes/Aimandai licence area. The property benefits from excellent modern infrastructure and ease of accessibility, being located only 20 kilometres from Arras's operational base in the city of Ekibastuz, Pavlodar. A paved highway runs through the licence, and within five km of the Berezski target. As well, 1,100-kilovolt-amp power lines and heavy rail all lie within a 15-kilometre radius of the project.

The Elemes project is located within the Bozshakol-Chingiz metallogenic belt that also hosts the Beskauga porphyry copper-gold-silver project approximately 80 km to the east, and KAZ Minerals' Bozshakol porphyry copper-gold mine (2022 production 102,000 tonnes Cu and 113,000 ounces Au) approximately 60 km to the northwest.

Qualified person

The scientific and technical disclosure for 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 solely finance a $5-million (U.S.) generative exploration program over a portion of the Arras licence package in 2024-2025 focusing on critical minerals. The company's shares are listed on the TSX Venture Exchange under the trading symbol ARK.

We seek Safe Harbor.