Mr. Darren Klinck reports

ARRAS MINERALS ANNOUNCES ACCELERATION OF WARRANT EXPIRY

Arras Minerals Corp. has elected to exercise its right under the terms of certain common share purchase warrants of the company issued on June 6, 2024, to accelerate the expiry date of the warrants.

Pursuant to the terms of such warrants, the company may accelerate the expiry of the warrants in the event the volume weighted average trading price (VWAP) of the common shares of the company on the TSX Venture Exchange meets or exceeds 60 cents for any continuous 15-trading-day period at any time following four months and one day following the date of issuance of such warrants. The company may then exercise its acceleration right at any time following the trigger of the acceleration condition by issuance of a news release. As of the close of markets on Feb. 12, 2025, the VWAP of the common shares on the TSX-V for the prior continuous 15 trading day period has met or exceeded 60 cents. Accordingly, the warrants will, unless exercised, expire on the 30th day after the date of this news release (March 14, 2025).

As of Feb. 12, 2025, a total of 10,084,330 warrants have yet to be exercised. Each warrant is exercisable to acquire one common share at an exercise price of 40 cents. If all warrants are exercised, proceeds to the company will total approximately $4.03-million.

Warrantholders who wish to exercise their warrants should contact their investment adviser and submit the election to exercise form as per the warrant certificate provided by the company in June, 2024. Any warrants that have not been exercised by 4 p.m. Vancouver time on March 14, 2025 (that is, at the end of 30 days notice) will automatically be cancelled.

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 Elemes copper and gold project, and 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).

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