Mr. Tim Barry reports

ARRAS MINERALS DRILLS 261 METRES @ 0.64% CUEQ IN FIRST HOLES AT BEREZSKI CENTRAL TARGET - ELEMES PROJECT, KAZAKHSTAN

Arras Minerals Corp. has provided initial results for the first three drill holes from the initial drill program on its Elemes project in northeastern Kazakhstan. All three holes were drilled at the Berezski Central target and all holes intersected porphyry-style copper-gold mineralization starting from the surface. The Berezski Central target is located on the south part of the more-than-eight-kilometre-long soil copper, molybdenum, arsenic anomaly centred on a zone of extensive intermediate argillic alteration hosted in altered diorites and andesites.

The Elemes project is located in the Bozshakol-Chingiz magmatic arc and is 61 kilometres (km) southeast of Kaz Mineral's Bozshakol copper mine. The Bozshakol mine commenced operations in 2016 and in FY (fiscal year) 2023 produced 105,000 tonnes (t) copper (Cu) and 115,000 ounces (oz) gold (Au) per annum at cash costs of 95 U.S. cents per pound (lb) Cu (net). Reported reserves are 1.003 billion t at 0.33 per cent Cu and 0.13 gram per tonne (g/t) Au.

Highlights:

• EL24001: 261 m of mineralization grading 0.64 per cent copper equivalent (CuEq) (0.39 g/t gold Au and 0.24 per cent Cu), starting from the 22 m:
  • Including 69 m grading 0.85 per cent CuEq (0.39 g/t Au and 0.42 per cent Cu) starting at 22 m and 48 m grading 1.00 per cent CuEq (0.77 g/t Au and 0.25 per cent Cu) starting at 157 m;
  • Drill hole ended in mineralization;
• EL24002: returned 102 m of mineralization grading 0.45 g/t gold equivalent (AuEq) (0.31 g/t Au and 0.11 per cent Cu) starting at two m:
  • Including 34 m grading 0.60 g/t AuEq (0.32 g/t Au and 0.13 per cent Cu) starting at two m;
• EL24003: 264 m of mineralization grading 0.30 g/t AuEq (0.17 g/t Au and 0.09 per cent Cu) starting from 41 m:
  • Including 30 m grading 0.46 g/t AuEq (0.25 g/t Au and 0.16 per cent Cu) starting at 263 m.

Tim Barry, chief executive officer of Arras Minerals, noted: "We're excited by these initial holes at the Berezski Central target at Elemes. The drill holes are mineralized over their entire lengths, and logging indicates mineralization is predominantly hosted in argillic and phyllic altered diorites, suggesting that these holes have drilled the large pyrite halo peripheral to the core of a large porphyry system. Starting at approximately 50 to 100 m depth, we are also starting to intersect A-, B- and D-type veins, which are generally found to increase towards the centre of porphyry copper deposit."

Darren Klinck, president of Arras Minerals, commented: "Results from the first three holes at Berezski Central are a great indication for the potential that exists at the Elemes project. Kazakhstan is one of the lowest-cost jurisdictions globally for mining. Head grades of approximately 0.5 per cent CuEq at nearby large-scale operations underpin strong profitability and some of the lowest operating cash costs in the world. This is the first of seven separate target areas being tested up to a depth of approximately 550 m across the 8.8 km Berezski soil anomaly. We will be expecting to release additional results from this program throughout Q1 2025 as they become available."

Drill hole summaries

EL24001 was designed to test the core of the soil Mo-Cu-As (molybdenum-copper-arsenic) anomalies, with a coincident moderate magnetic and chargeability lows. It was completed at 476.5 m depth. The hole started in strong argillic altered andesite tuffs before passing into strongly silicified and faulted diorites at 90.0 m depth. Mineralization is represented by quartz-pyrite-plus-or-minus chalcopyrite veins and disseminated pyrite. Molybdenite and supergene enrichment (chalcocite) is observed occasionally in the first 35 m of the drill hole. The drill hole ended in mineralization.

EL24002 was aimed to follow up hole EL24001 and test the extensive soil Mo anomaly. Unfortunately, the hole was lost at 221.7 m due to drill failure. The hole was collared in strongly argillic altered andesite tuff up to 60.0 m depth, before passing into medium grained diorites to the end of the drill hole. Mineralization consists of quartz-pyrite-plus-or-minus-chalcopyrite veins and pyrite dissemination. Supergene enrichment chalcocite is observed in the first 40 m of the drill hole and the hole intersected several narrow hydrothermal breccias containing clasts of quartz-pyrite-chalcopyrite veins, suggesting the drill hole was drilled peripheral to the core of a porphyry system.

EL24003 was drilled on the southern edge of the large Mo-Cu soil anomaly. The hole also targeted a large IP (induced polarization) chargeability high and was drilled to 350 m depth. The hole was collared in strongly argillic altered andesite tuffs, before passing into diorites at 15 m depth. The diorite is strongly argillic altered to 114.0 m, where it transitions into phyllic dominant alteration. The diorites host D-type quartz-pyrite veins with rare quartz-pyrite-chalcopyrite veins. Disseminated pyrite is found throughout the drill hole (up to 2 per cent pyrite in areas). In addition, the hole intersected several small intervals of clast supported polymictic hydrothermal breccias.

Elemes project

Drilling commenced in September and the phase 1 program was completed in late December. This program of approximately 4,000 metres of diamond drilling has generally focused on priority targets at Berezski Central, Berezski East, Q-Gorka and K-Ozek targets. These targets were identified following two field 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, some historical drill holes from the Berezski East and Q-Gorka targets were reassayed, with those results reported in January, 2024 (see Arras new releases Jan. 8, 2024, and Jan. 22, 2024).

Webinar -- Thursday, Jan. 16, 2025, at 11 a.m. EST

The company will host a webinar to discuss the initial drill results from the Berezski target -- Elemes project -- on Thursday Jan. 16, 2025, at 11 a.m. EST.

Register for the webinar on-line.

Please contact the company at info@arrasminerals.com for further information. A replay of the webinar will be made available on the company's website.

Quality assurance, quality control and qualified person

Lengths are drill intersections and not necessarily true widths. True widths cannot be calculated at this time due to the unknown geometry of the mineralization. Drill intersections have been independently selected by Arras Minerals. Drill composites have been independently calculated by Arras Minerals. The geological interpretations in this news release are solely those of the company.

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, 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 partnership with Teck Resources Ltd., in which Teck may solely finance a $5-million (U.S.) generative exploration program over a portion of the Arras Minerals licence package in 2024 to 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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