Mr. Tim Barry reports

ARRAS MINERALS ANNOUNCES VOTING RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Arras Minerals Corp. has released the detailed voting results of the proposals considered at its annual and special meeting of shareholders held on April 29, 2025. A total of 31,113,266 or 30.8 per cent of the company's issued and outstanding shares as of the record date were represented at the meeting.

The company's shareholders have voted to set the number of directors to seven (30,936,522 or 99.4 per cent voted for, and 176,565 or 0.6 per cent voted against).

The nominees, as listed in Arras's management information circular, were elected as directors of the company.

The company's shareholders have ratified and approved the appointment of Smythe LLP as the company's auditor for the fiscal year ending Oct. 31, 2025 (31,091,715 or 99.9 per cent voted for, and 21,551 or 0.1 per cent abstained from voting).

Arras is also pleased to announce that the company's shareholders have reapproved of certain amendments to the company's equity incentive plan, to, among other things, alter the plan to a 10-per-cent rolling plan (26,916,373 or 98.9 per cent voted for, and 287,294 or 1.1 per cent voted against).

Full details of the proposals are fully described in the company's management information circular filed on March 28, 2025, available on SEDAR+.

Issuance of DSUs (deferred share units)

The company has granted an aggregate of 39,498 DSUs to certain independent directors at a price of 77.54 Canadian cents per DSU. The DSUs were granted in consideration for services rendered by the directors for the quarter ended April 30, 2025, in lieu of cash. The DSUs were granted in accordance with the company's equity incentive plan and were priced based on the volume weighted average price of the company's common shares on the TSX Venture Exchange for the last five trading days immediately preceding the grant date. This is the initial grant of DSUs to the company's independent directors.

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 partnership 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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