Mr. Tim Barry reports

ARRAS MINERALS INITIATES VECTOR ARRAY INDUCED POLARIZATION SURVEY ON ITS BOZSHAKOL GROUP MINERAL LICENSES, KAZAKHSTAN

Arras Minerals Corp. has commenced two vector-array induced polarization (VIP) surveys, covering a total of 178 square kilometres, over the Aktasty and Maisor exploration targets defined by recent 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 (proved and probable) reserves 1,003 million tonnes at 0.34 per cent copper and 0.13 gram per tonne gold).

Highlights from the VIP survey program:

• 178-square-kilometre total program split into two areas:
  • 71 square kilometres on the Aktasty target;
  • 107 square kilometres on the Maisor target;
• Two geophysical teams working concurrently to complete the programs promptly.

The reconnaissance VIP surveys are being used to cover large tracts of ground relatively quickly compared with other induced polarization (IP) techniques. The VIP will provide chargeability and resistivity data to approximately 300 metres depth, when integrated with Heli-TEM, top-of-bedrock KGK drilling and limited surface geological data, to assist the company in the definition of future drill targets. At present, Aurora Ltd. has provided two teams to conduct the Aktasty and Maisor surveys concurrently, and the surveys are expected to be completed within the next 45 days.

Tim Barry, chief executive officer of Arras Minerals, commented: "We have engaged the local service provider, Aurora, to conduct the first modern IP survey on our Aktasty and Maisor licences. Fieldwork to date on these licences has revealed exposures of porphyritic rocks with strong phyllic alteration through windows of the quaternary sediments that cover much of the eastern side of these licences. The package we have seen thus far is typical for what you might expect in a porphyry environment and hints at mineralizing systems in the region that maybe buried by the shallow sediment cover."

Teck package A -- Bozshakol project

The Bozshakol project is located 56 kilometres to the northwest of the town of Ekibastuz and surrounds and covers the potential continuation of mineralization of Kaz Minerals' Bozshakol copper-gold mine.

This area has received limited historic exploration due to unconsolidated cover masking bedrock geology. The property consists of seven exploration licences and covers 1,397 square kilometres.

The property is in the Bozshakol-Chingis magmatic arc, which 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 copper-gold porphyry mineralization. This package is regionally folded and refolded.

Vector-array background information

The vector-array induced polarization (VIP) surveys are being conducted by Aurora, a leading geological exploration service company providing high-quality, professional and innovative geological services to the mineral exploration industry in Kazakhstan and Central Asia.

VIP was developed by Kennecott in the 1970s in response to exploring beneath cover in well-explored porphyry terrains in North America and South America as it was recognized that large porphyry deposits have large induced polarization footprints.

At Maisor and Aktasty, Aurora is using an offset one-kilometre grid, utilizing a perpendicular pair of receiver dipoles that are positioned on alternating one-kilometre squares. The plot points for resistivity and IP for this array would be located at each receiver site.

With this checkerboard pattern, all receiver sites are located within three kilometres of each transmitter electrode set-up and a large area (greater than 100 square kilometres) can be covered by just 120 vector IP sites.

The VIP technique is excellent for reconnaissance surveys, where the purpose is to detect anomalous IP sources at low cost (for example, looking for large porphyry-like bodies under cover). The VIP technique is most cost-effective when used to detect anomalous IP anomalies (disseminated sulphides) that can be later detailed with higher-resolution geophysical techniques (pole-dipole or dipole-dipole).

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 member of the American Institute of Professional Geologists (CPG No. 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 2024/2025 focusing on critical minerals. The company's shares are listed on the TSX Venture Exchange under the trading symbol ARK and on the OTCQB under the trading symbol ARRKF.

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