Mr. Tim Barry reports

ARRAS MINERALS COMMENCES KGK DRILLING ON ITS TAY EXPLORATION LICENSE, KAZAKHSTAN

Arras Minerals Corp. has commenced a 100-hole, 5,000-metre KGK drill program to explore a 6.5-kilometre-by-2.1-kilometre buried chargeability anomaly identified by a Soviet-era induced polarization(IP) survey on Arras's 100-per-cent-owned Tay exploration licence.

Highlights from the KGK drilling program:

• A 100-hole KGK drilling program, totaling approximately 5,000 metres, is planned, targeting the large, buried 6.5-kilometre-by--2.1-kilometre east-west-trending coherent Soviet-era IP chargeability anomaly comparable with the chargeability high of the Bozshakol open-pit copper-gold mine which was completed during the same era.
• The purpose of the KGK program is to sample the top of bed rock through the overburden to assess the geology and the cause for the chargeability high on the Tay licence. Should the KGK drilling confirm the presence of a buried hydrothermal system or porphyry-style alteration, the program will be followed up with a diamond drill program expected later in the year.
• The Tay licence is located 28 kilometres (km) north of 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.

For more details on the Tay chargeability anomaly, please see Arras's news release from Feb. 28, 2024, located on-line.

Tim Barry, chief executive officer of Arras Minerals, stated: "We are excited to commence the exploration program at our Tay licence. This marks the first modern exploration effort on the site, with no documented drilling to date. Our focus is on the large Soviet-era chargeability anomaly, which is analogous to a Soviet IP anomaly over the Bozshakol deposit, a billion-tonne copper-gold mine located 26 km south. Our team is actively exploring across our tenement package, and this initial program at Tay aims to test the bedrock buried beneath unconsolidated cover. The Tay prospect exemplifies the excellent exploration potential in Kazakhstan, where we have been able to acquire, permit and now drill in just a few months. This further highlights the outstanding support that mining and exploration companies receive from government agencies in this modern and dynamic country."

KGK drilling program

KGK drilling, also known as hydraulic-core lift drilling, is a system designed to drill holes for geochemical sampling and geological mapping of basement rocks buried by younger surface cover. Developed in the Soviet Union, this method is similar to wet reverse circulation (RC) drilling.

The drilling is carried out by Spetsburmash LLC, based in Kokshetau, Akmola region, Kazakhstan. It has two URB-2A2-KGK-100 KGK drill rigs on site and the program is expected to be completed by mid-August.

The Tay project

The Tay project spans 118 square kilometres in northeastern Kazakhstan within the Bozshakol-Chingiz magmatic arc, an underexplored and emerging porphyry province. It is situated 28 km north of the Bozshakol open-pit copper-gold mine operated by Kaz Minerals. The geology of the area is dominated by volcano-sedimentary and sedimentary rocks, intersected by several major fault zones and intruded by a series of intrusive stocks.

A regional Soviet-era geophysical survey identified a 6.5-kilometre-by-2.1-kilometre east-west-trending IP chargeability anomaly, comparable in size to the anomaly over the operating Bozshakol copper-gold mine. No historical drilling has been conducted on the property. The company believes this anomaly could be related to a porphyry intrusion that is covered by 10 to 40 metres of Quaternary cover.

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.

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