Mr. Tim Barry reports

ARRAS MINERALS STRENGTHENS FINANCIAL POSITION WITH C$4 MILLION RAISED FROM WARRANT EXERCISES

Further to Arras Minerals Corp.'s news release on Feb. 12, 2025, whereby the company announced that it elected to exercise its right under the terms of certain common share purchase warrants issued on June 6, 2024, to accelerate the expiry date of the warrants, all 10,134,332 warrants have been exercised by the holders. This has brought in gross proceeds of $4,053,733 to the company.

Tim Barry, chief executive officer, commented: "We wish to thank shareholders for their continued support through the full exercise of the warrants. We are currently finalizing geophysical survey and drilling contracts and expect to commence fieldwork later in April. The company is well positioned to kick off our phase 2 program at Elemes and, together with the work program planned on the Arras-Teck strategic alliance, we are very excited about the many targets we will be advancing over the next eight to12 months in Kazakhstan."

Grant and settlement of restricted share units (RSUs)

In accordance with the company's equity incentive plan, Arras has granted an aggregate of 241,196 restricted share units to certain officers as annual performance awards for 2024. The RSUs vest one year from the grant date (Feb. 27, 2025).

Additionally, an aggregate of 1,495,484 RSUs that were granted in February, 2024, as annual performance awards for 2023 were settled as common shares of the company effective March 14, 2025.

Following the exercise of these warrants and settlement of RSUs, the company now has 100,865,297 common shares issued and outstanding.

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 Elemes copper-gold porphyry 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). 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 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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