Mr. Tim Barry reports

ARRAS MINERALS ANNOUNCES RECOMMENCEMENT OF DRILLING AT ELEMES PROJECT IN KAZAKHSTAN

Arras Minerals Corp. has recommenced diamond drilling at the Elemes project in northeastern Kazakhstan.

Tim Barry, chief executive officer of Arras Minerals, commented: "The 2026 program at Elemes is off to a very strong start. Two rigs have just mobilized to site, with a further two rigs scheduled to arrive in March as we materially accelerate activity across the project. With approximately 20,000 metres of drilling planned this year, this represents our most ambitious program to date and reflects our growing confidence in the scale potential emerging at Elemes. Our focus is to rapidly advance and expand the Berezski North and Berezski Central discoveries while continuing to define the broader porphyry footprint. In parallel, we will begin systematically testing Berezski East and Novii targets to determine their relationship to the main porphyry centres, with the objective of unlocking the potential across the 10-kilometre Berezski trend."

He went on to add: "The final magnetotelluric and gravity survey results received in December have sharpened our targeting and provided greater conviction in the structural controls and scale of the system. Drilling to date has returned broad, near-surface intervals of copper and gold mineralization, reinforcing our view that Elemes has the potential to host a significant, large-scale porphyry system comparable to low-cost producing mines in Kazakhstan. We believe 2026 will be a transformative year for Arras as we continue to demonstrate the scale and continuity of this emerging copper-gold district."

Two diamond drill rigs have arrived on site, with the first two holes commencing at the Berezski East target, focusing on defining and expanding the wide zones of gold-copper mineralization intersected by holes EL24004 (138.8 metres grading 0.77 gram per tonne gold and 0.09 per cent starting from a depth of 1.2 metres) and EL25019 (457.5 m grading 0.61 g/t Au and 0.10 per cent Cu from surface), and explore the prominent gravity anomaly located to the east-northeast of drill hole EL25019.

Upon completion of these two holes, both drill rigs will move up to drill at Berezski North, 4.5 kilometres northwest of Berezski East, to follow-up on the company's previously announced holes EL25023 (246.2 m grading 0.75 g/t Au and 0.24 per cent Cu, starting from a depth of 0.8 m) and EL25014A (154.0 m grading 0.72 g/t Au and 0.28 per cent Cu, starting at a depth of 130 m) and to explore for the continuation of porphyry-style bornite-chalcopyrite mineralization intersected by hole EL25027 (results pending).

Two more drill rigs will arrive at site in March and will commence drilling at Berezski Central, where the company has completed nine holes and defined a zone of copper-gold mineralization measuring approximately 600 m by 500 m by up to 550 m depth. The target remains open to the north and south and top-of-bedrock (KGK) drilling reported in December, 2025, identified the continuation of gold and copper mineralization extending under cover to the east and west of the currently defined Berezski Central target area.

Notes: For copper and gold equivalent calculations, the following metal prices were used: $3.75 (U.S.) per pound copper, $3,000 (U.S.) per ounce gold, $35 (U.S.) per ounce silver, $30 (U.S.) per pound molybdenum; and metallurgical recoveries have been updated to 90 per cent for Cu, 85 per cent for Au, 75 per cent for Ag and 80 per cent for MoAll intervals are presented as core lengths as the true thicknesses of mineralization is currently unknown.

Elemes phase II drill program: Since June of last year, Arras Minerals has been advancing its 20,000-metre phase II diamond drill program at the Elemes project. Drilling was paused in late December for a scheduled winter break and recommenced in February. Nearly 10,000 m were completed in 2025, and the strength of the results has prompted Arras to plan an expansion of the program to 30,000 m, with completion targeted by the end of 2026.

Elemes project overview: The Elemes project comprises two exploration licences covering 531 square kilometres in northeastern Kazakhstan, located approximately 13 kilometres southwest of Ekibastuz and just 20 km from Arras's operational base. The project benefits from exceptional infrastructure, with a paved highway crossing the licence, and access to 1,100-kilovolt-ampere power lines, heavy rail and other utilities within a 15-kilometre radius.

Situated within the prolific Bozshakol-Chingiz metallogenic belt, Elemes lies near significant regional deposits, including the Beskauga porphyry copper-gold-silver deposit (approximately 80 km east) and Kaz Minerals' Bozshakol copper-gold mine (approximately 60 km northwest), which reported mined grades in Q1 2025 of 0.37 per cent copper and 0.20 g/t gold.

Geologically, the property is underlain by interbedded intermediate volcanic and sedimentary rocks intruded by multiple phases of diorite and monzodiorite porphyry. Copper-gold mineralization occurs in sheeted and stockwork quartz-chalcopyrite veins associated with these intrusions. In addition, high-grade, low-sulphidation epithermal veins have been mapped on the property, representing a secondary exploration target.

Property-wide soil sampling programs defined two extensive copper-molybdenum-arsenic geochemical anomalies: the Berezski and Aimandai trends, both considered priority targets for follow-up exploration drilling. A phase 1 drill program on the Berezski trend in late 2024 returned high-grade porphyry/epithermal copper and gold mineralization in results announced in Q1 2025. A 20,000-metre phase 2 drill program commenced in May, 2025, which was expanded to 30,000 metres in January, 2026, and is expected to be completed by the end of 2026.

Quality assurance and quality control

The company adheres to CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Best Practices Guidelines for exploration-related activities conducted on its property. Quality assurance and quality control (QA/QC) procedures are overseen by the qualified person.

Arras Minerals' QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut at Arras Minerals' operations base in Ekibastuz, Kazakhstan, by company personnel. Diamond drill core was sawn in half with a diamond saw and then sampled in maximum two-metre intervals, stopping at geological boundaries, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site.

Each bagged core sample was shipped to ALS Laboratory in Karaganda, Kazakhstan. Samples were dried, crushed and pulverized to greater than 80 per cent passing minus-200 mesh. The prepared sample splits were sent to ALS Chemex's geochemical analysis laboratories in Loughrea county, Galway, Ireland, and Lima, Peru, for multielement analysis. Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing greater than 1.0 per cent copper are analyzed by method Cu-OG62.

Gold analysis was conducted by ALS Chemex at the analytical laboratory in Karaganda, Kazakhstan. Gold was analyzed by fire assay (30 grams) with an AA (atomic absorption) finish (method Au-AA23) with detection limits of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21).

ALS is an accredited laboratory that is independent of the company. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Qualified person

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 reviewed and approved this release. Mr. Booth has over 20 years of mineral exploration experience and is a qualified person member of the American Institute of Professional Geologists (CPG No. 12044).

Gold, copper and other mineral equivalents are calculated on the basis specifically set forth in respect thereto in this presentation and are based upon the reasonable assumptions as to the prices of various metals and their recoveries thereof made by management of the company on a project-by-project basis as converted metal. All drill hole intervals are reported as drill widths as true thicknesses are unknown. Assumed metal prices are: $3.75 (U.S.) per pound copper, $3,000 (U.S.) per ounce gold, $35 (U.S.) per ounce silver and $30 (U.S.) per pound molybdenum.

The company has updated metal recoveries: 90 per cent for copper, 85 per cent for gold, 75 per cent for silver and 80 per cent for molybdenum. These figures are based on a review of published data from advanced-stage porphyry projects (including Vizcachitas, Los Andes Copper; Copper Creek, Faraday Copper; Valeriano, Atex Copper; Los Helados, NGEx Resources Inc.; Opemiska, XXIX Metal Corp.; Costa Fuego, Hot Chili Ltd.; Moonlight-Superior, U.S. Copper Corp; Warintza, Solaris Resources Inc.; Chita Valley, Minsud Resources Corp.; and Hat, Doubleview Gold Corp.).

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, where initial drill results in 2025 identified porphyry-style mineralization across a 10-kilometre line of strike. The company has established one of the largest land packages in the country prospective for copper and gold. 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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