Mr. Tim Barry reports

ARRAS MINERALS PROVIDES UPDATE ON ELEMES DRILL PROGRAM - KAZAKHSTAN

Arras Minerals Corp. has provided an update on its continuing core drilling program at the Elemes project. The program, which began in September, remains on schedule and is expected to conclude by the end of December.

The current phase 1 core drilling program, totalling approximately 4,000 metres of diamond drilling, has primarily targeted key areas at Berezski Central, Berezski East, Q-Gorka and K-Ozek. These targets were identified following two seasons of comprehensive exploration work at the Elemes project, including airborne magnetic and pole-dipole induced polarization geophysical surveys, as well as extensive soil sampling and mapping. In addition, select historical drill holes from the Berezski East and Q-Gorka targets were reassayed (refer to Arras's news releases dated Jan. 8 and Jan. 22, 2024).

While initial assay results from the September and October drilling have taken much longer than anticipated to be processed and verified, the company now expects to announce these results by early January, 2025. Subsequent assay results will be released as they become available.

"We are very pleased with the progress of the core drilling program at Elemes over the past three months," commented Tim Barry, chief executive officer of Arras Minerals. "This phase 1 campaign is testing new target areas developed through our recent fieldwork, and we are encouraged by the early indications we've seen so far that Elemes is indeed a large epithermal-porphyry system that has yet to be explored with modern techniques."

Quality assurance/quality control and 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 and a member of the American Institute of Professional Geologists (CPG 12044).

About Arras Minerals Corp.

Arras Minerals 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 Ltd., in which Teck may sole finance a $5-million (U.S.) generative exploration program over a portion of the Arras Minerals licence package in 2024/2025. 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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