Mr. Tim Barry reports

ARRAS MINERALS COMPLETES KGK DRILLING ON ITS BOZSHAKOL GROUP MINERAL LICENSES, KAZAKHSTAN

Arras Minerals Corp. has completed its top of bedrock (KGK) drill program to explore the Maisor and Aktasty exploration targets defined by the 2023 soil sampling programs. These targets are located within its Bozshakol group of licences that form part of the Arras-Teck Resources Ltd. strategic exploration alliance announced on Dec. 7, 2023, surrounding the operating Bozshakol mine, operated by Kaz Minerals (P&P (proven and probable) reserves 1,003 million tonnes at 0.34 per cent copper (Cu), 0.13 gram per tonne (g/t) gold (Au)).

Highlights from the KGK drilling:

• A 434-hole program totalling 11,106.2 metres (m) of KGK drilling;
• Program explored nearly 270 square kilometres;
• Explored northeast continuation of Bozshakol historic IP anomaly and surrounding area.

Tim Barry, chief executive officer of Arras Minerals, commented: "We're thrilled to have wrapped up the KGK drilling program on the Maisor and Aktasty licences. This drill program is part of a much larger exploration program we have been conducting this summer under our strategic alliance with Teck. The areas targeted by the KGK drilling are situated right next to the Bozshakol mine and have long been overlooked due to the 10 to 40 metres of quaternary cover, which has historically hindered exploration in the area. It's well-established that porphyry deposits often cluster together in many regions and we're optimistic that this drilling could lead to the discovery of additional deposits around Bozshakol. We're now preparing the drill samples and will be sending them off for analysis shortly."

KGK drilling: KGK drilling is a very effective technique to explore in areas with thick postmineral cover to penetrate the alluvium cover and sample the underlying bedrock to guide exploration on the Bozshakol group of concessions that surround Kaz Minerals' Bozshakol mine, a significant copper-gold operation with over one billion tonnes of reserves, producing 100,000-plus tonnes of copper annually.

The program consisted of 434 holes, totalling 11,106.2 metres (m) and the program was designed to confirm positive soil results identified in the 2023 soil sampling programs and to explore the continuation of the Bozshakol mine trend where it trends to the northeast undercover. A large percentage of the drill holes focused on regional drilling testing multiple early-stage targets on the Maisor and Aktasty concessions.

Teck package A, Bozshakol project

The Bozshakol project is located 56 kilometres (km) to the northwest of the town of Ekibastuz and surrounds and covers the potential continuation of mineralization of KAZ Minerals' Bozshakol Cu-Au mine.

This area has received limited historic exploration due to unconsolidated cover masking bedrock geology. The property consists of seven exploration licenses and covers 1,397.25 square kilometres.

The property is in the Bozshakol-Chingis magmatic arc is an accretionary arc composed mainly of volcanics, volcaniclastics, older plutons and a nickel-rich ophiolite belt of Cambrian age that have been intruded by mid-Ordovician aged intrusions, several of which host economic Cu-Au porphyry mineralization. This package is regionally folded and refolded.

KGK drilling program

KGK drilling or hydraulic-core lift drilling is a system designed to drill holes for geochemical sampling and geological mapping of basement rocks underneath surface cover. The method was developed in the Soviet Union and is in general like wet reverse circulation (RC) drilling to collect geochemical samples of the bedrock beneath the 10 to 40 m 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.

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.

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