Mr. Tim Barry reports

ARRAS MINERALS DRILLS 547 METRES GRADING 0.70% CUEQ STARTING FROM 14 METERS ON THE BEREZSKI TARGET -- NORTHEASTERN, KAZAKHSTAN

Arras Minerals Corp. has released the results from the final five holes from its initial phase 1 drill program, targeting the 8.8-kilometre-long Berezski target, located on its Elemes project in northeastern Kazakhstan. The first 11 holes of the phase 1 drill program encountered thick intercepts of widespread copper-gold and gold porphyry and/or epithermal-style mineralization.

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

Highlights:

• EL24005: 547 m of mineralization grading 0.70 per cent copper equivalent (CuEq) (0.23 per cent Cu and 0.48 g/t Au), starting from 14 m depth; including:
  • 44 m grading 1.15 per cent CuEq (0.48 per cent Cu and 0.64 g/t Au) starting from 14 m depth;
  • 206 m grading 0.83 per cent CuEq (0.27 per cent Cu and 0.54 g/t Au) starting from 24 m depth;
  • 58 m grading 1.02 per cent CuEq (0.32 per cent Cu and 0.69 g/t Au) starting from 172 m depth;
  • The hole ended in strong mineralization grading 64.8 m at 0.68 per cent CuEq (0.16 per cent Cu and 0.55 g/t Au);
• EL24006: returned 56 m grading 0.68 per cent CuEq (0.36 per cent Cu and 0.33 g/t Au) starting from four m depth, including:
  • 20 m grading 1.02 per cent CuEq (0.72 per cent Cu and 0.32 g/t Au) starting from 40 m depth;
• EL24010: returned 152 m grading 0.13 per cent CuEq (0.07 per cent Cu and 0.06 g/t Au) starting from 262 m depth;
• EL24011: returned 76 m grading 0.20 per cent CuEq (0.06 per cent Cu and 0.14 g/t Au) starting from 247 m depth.

Tim Barry, chief executive officer of Arras Minerals, commented: "We are extremely encouraged by the results of the phase 1 drill program at Elemes. Holes EL24005 and EL24006 strongly suggest the presence of another porphyry centre developing at the Berezski target. Notably, the porphyry-style mineralization identified in quartz-chalcopyrite veining in the deeper sections of EL24005 provides a solid vector for us to pursue in the phase 2 program. Furthermore, EL24006 intersected porphyry-style mineralization approximately on km to the west, on the western edge of the copper soil anomaly, giving us follow-up targets between the two holes, as well as to the west, north and south -- even beyond the current anomaly boundaries."

He went on to add: "Over the last three field seasons, we've significantly advanced the Elemes-Aimandai licences from an initial 530 square km land package to identifying two major copper targets spanning nearly nine km at Berezski and 14 km at Aimandai. Our drilling this past year has confirmed at least two porphyry centers on the Berezski target, approximately five km apart, with associated epithermal mineralization along the eastern boundary. With roughly 90 per cent of the Berezski target still open and untested, the early success of phase 1 gives us a strong foundation to hone in on two key areas, while continuing to develop additional high-priority targets across this large, highly prospective region."

The Elemes phase 1 drill program

The phase 1 drill program targeted geophysical and geochemical anomalies identified by the company's extensive airborne magnetic, ground pole-dipole induced polarization (IP) surveys, and greater than 35,000 soil samples collected in 2022, 2023 and 2024, which identified several distinct porphyry-epithermal exploration targets. Additionally, historical drilling at the Berezski East and Berezski North were reviewed when possible.

Historic shallow drilling at Berezski North identified an area of mineralized structurally controlled hydrothermal breccia that has been overprinted by later low temperature epithermal quartz veins and mineralization. The company believed that these breccias represent the lower temperature top to a porphyry copper system and hole EL24005 was the first deep drill hole in this target to test this hypothesis. The company was pleased that the hole appears to have tapped into the mineralized root of these breccias and the mineralization intersected by the hole appears to transition from low temperate epithermal dominant mineralization at surface to higher-temperature porphyry-style mineralization at depth.

Drill hole EL24006 was drilled approximately one km to the west of hole EL24005. This hole appears to have identified another target with porphyry-style mineralization and alteration. The hole intersected propylitic altered diorites that have been partially overprinted by argillic alteration. Mineralization is present as quartz-pyrite-chalcopyrite porphyry-style veins, with disseminated pyrite and chalcopyrite.

Drill hole summaries

Drill hole EL24005 was designed to test a Cu-Mo soil anomaly at Berezski North that had a coincident annular magnetic low and high chargeability induced polarization (IP) anomaly. The drill hole collared in hydrothermal breccias with visible copper oxides and intersected diorites with moderate argillic alteration in first 200 m, where it passes into moderate potassic/sodic altered diorites. Within the diorites are intervals of hydrothermal breccias cemented by tourmaline and pyrite.

Near-surface mineralization is characterized by massive pyrite patches with minor copper oxides on fractures, zones of quartz-pyrite veins containing minor chalcopyrite. With depth, chalcopyrite content increases up to 3 per cent, with areas of sheeted chalcopyrite veins are narrow zones of massive chalcopyrite in patches and fractures with rare sphalerite and galena. The drill hole ended in mineralization.

Drill hole EL24006 was designed to test an area significant magnetic low, a coincident chargeability-high anomaly adjacent to the Berezski North target. The hole was collared in diorite with moderate inner propylitic and occasional local weak potassic alteration. From 218.0 m to 285.2 m, the hole continued through brecciated and altered limestones with minor disseminated pyrite and chalcopyrite. From 285.2 to the end of the hole, it intersected weak to moderate propylitic altered diorites and occasional layers of limestone.

Drill hole EL24007 was drilled to test a coincident magnetic high and resistivity high to the north of the Berezski North target. The hole intersected basaltic andesites with weak to moderate propylitic alteration and local structurally controlled zones of argillic alteration.

Drill hole EL24010 was designed to test an adjacent copper-molybdenum soil geochem anomaly located to the northwest of drill hole EL24005. The hole intersected weak potassic altered diorites over its entire length. Mineralization mainly consists of minor quartz-pyrite-plus-or-minus-chalcopyrite veins, with occasional quartz-magnetite-chalcopyrite veins. The mineralization, alteration and veining style suggests that the hole was drilled peripheral to a porphyry-epithermal target and has provided important information to help guide future drilling at the Berezski North target.

Drill hole EL24011 was designed to explore a molybdenum soil anomaly located approximately 300 m to the east-northeast of hole EL24002. The hole was collared in propylitic altered andesite breccias that have been overprinted by moderate argillic alteration. At 169.5 m depth, the hole intersected phyllic altered diorites to the end of the hole. Mineralization is dominated by disseminated pyrite with rare quartz-pyrite veins indicating that it was drilled in the periphery of a porphyry system. Unfortunately, the hole was lost at 350.2 m depth when it intersected a strong fault zone.

Phase 2 Elemes program plan

Final review and planning is under way for a phase 2 drilling program at Elemes. The success of phase 1 identifying and confirming at least two porphyry centres for follow-up along with approximately 90 per cent of the Berezski target remaining open and untested provides for significant opportunities to follow up in 2025.

Subject to the necessary financing in place, the company believes that a phase 2 program will comprise:

• Ground magnetic survey focusing on the Berezski and Aimandai targets to help with structural interpretation and target generation;
• Full analysis of select soil samples collected in 2023 and 2024 over high-priority targets to provide data on porphyry pathfinder elements to allow for vectoring towards the porphyry centre and allow for lithogeochemistry and alteration mapping;
• Approximately 20,000 m of core drilling targeting key priority areas at the Berezski target;
• Initial Vector IP geophysical survey at the Aimandai target with intention to identify priority drill targets;
• An approximately 5,000 m initial drill program at the Aimandai target.

Darren Klinck, president of Arras Minerals, commented: "We are excited about the initial outcomes from the phase 1 program at the Berezski target on our Elemes project. There are two high-priority areas to focus on at Berezski Central and Berezski North, where we plan to undertake systematic grid drilling following a ground magnetic survey this spring. In addition, with approximately 90 per cent of the Berezski target still untested, we also expect to be testing new target areas as well. Furthermore, while we paused additional follow-up work at the Aimandai target in 2024, with the positive results we have generated from Berezski in the phase 1 program, we plan to undertake geophysical surveys to help identify priority drill targets for an initial drill program at that 14 km copper-in-soil anomaly later this year."

Mr. Klinck went on to add: "It is very pleasing to see the systematic exploration work from the team over the past two to three years paying dividends. With the opportunities emerging at Elemes combined with the multiple targets we expect to be drill testing on the Arras-Teck exploration alliance licences this year, we plan to have at least two core drills operating across the licence package starting in Q2. Arras is in a unique position to have six to nine target areas that we expect to be drill testing across the entire licence package this year with all of these being prospective for copper-gold porphyries."

Webinar -- Wednesday, Feb. 12, 2025, at 8 a.m. PST (11 a.m. EST)

The company will host a webinar to discuss the latest results from the phase 1 drill program at the Berezski target, Elemes project, and the 2025 phase 2 program plan on Wednesday, Feb. 12, 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 website.

Elemes project

Drilling commenced in September, 2024, and the phase 1 program was completed in late December, 2024. This program of approximately 4,000 m of diamond drilling has generally focused on priority targets at Berezski Central, Berezski East, Berezski North 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 IP geophysical surveys, as well as extensive soil sampling and mapping. In addition, some historical drill holes from the Berezski East and Quartzite-Gorka (Berezski North) targets were reassayed, with those results reported in January, 2024 (see Arras new releases dated Jan. 8, 2024, and Jan. 22, 2024).

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. 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 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 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, 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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