Mr. Tim Barry reports

ARRAS MINERALS ANNOUNCES MOBILIZATION OF 3RD AND 4TH DIAMOND DRILL RIGS TO ELEMES PROJECT IN KAZAKHSTAN

The third and fourth drill rigs have arrived on site and are preparing to commence drilling once ground conditions firm up from the spring thaw at Arras Minerals Corp.'s Elemes project in Kazakhstan.

Highlights include:

• Drilling activity to double with mobilization of two additional drill rigs at Elemes project;
• At least 20,000 metres of focused diamond drilling planned for this year on the Berezski trend at the Elemes project;
• Drilling will focus on expanding and building scale at the copper-gold zones identified at the Berezski North, Berezski Central and Berezski East targets;
• Since drilling recommenced in February, five holes have been completed, with assays expected to start being received this month.

The drill program that is now under way at Elemes is focusing on building on previous drill results, and, to date, approximately 30 holes totalling more than 15,000 metres of diamond drilling have been completed along the Berezski trend, which now stretches for more than 10 kilometres. The company has confirmed three porphyry centres at Berezski North, Berezski Central and Berezski East and may have identified a new porphyry centre at the Novii target. The company is focusing the 2026 drilling program on building scale, size and continuity of near-surface copper-gold mineralization at the rapidly evolving Berezski trend.

The two drill rigs that commenced drilling in February have focused on the Berezski North target after completing an initial two holes at Berezski East and one hole at K-Ozek. The two additional diamond drill rigs will initially drill several select holes at the Novii target, approximately one kilometre to the south of Berezski Central, to follow up the discovery of zones of porphyry-style mineralization that was intersected in the 2025 drill program. This mineralization is believed to be related to either the Berezski Central porphyry or to a new, unrelated porphyry system, under cover, along the same trend.

Following this initial work at Novii, these drills will shift to focus on further expansion of mineralization at the Berezski Central and Berezski East targets.

Tim Barry, chief executive officer of Arras Minerals, commented: "We are very pleased to be accelerating our drill program on the Berezski trend at the Elemes project with four diamond drills. Since the initial results we announced in January of last year, we have progressively been enhancing our understanding of the geologic controls while expanding the mineralization footprint at our key targets where we are confident that we are advancing on at least two and, possibly, a cluster of four copper-gold porphyry centres across a 10-kilometre trend."

He went on to add: "Our confidence continues to grow as we continue to discover broad widths of near-surface copper-gold mineralization with grades that are as good or better of what is currently being mined at nearby operating mines with first-quartile operating costs globally. Our objective for this year remains to demonstrate size and scale at our key target areas that represent a clear path towards resource definition for large-scale, near-surface copper-gold deposits in mining-friendly Kazakhstan."

Exploration update

Four diamond drill rigs are at Elemes and, to date, five holes have been completed, with assays pending. Two holes have been completed at Berezski East target to follow up on holes EL24004 (138.8 metres grading 0.77 gram per tonne gold and 0.09 per cent copper) and EL25019 (457.7 metres grading 0.61 gram per tonne gold and 0.10 per cent copper), a single hole was drilled at K-Ozek to explore a series of epithermal gold veins, and an additional two holes have been completed at Berezski North, with two more holes under way.

Issuance of RSUs (restricted share units)

The company has granted an aggregate of 349,617 RSUs to certain senior officers and employees in accordance with the company's equity incentive plan and they 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 dates.

Of the 349,617 RSUs, 286,314 RSUs are scheduled to vest on Feb. 26, 2027, and 63,303 RSUs are scheduled to vest on March 31, 2027. Once vested, each RSU represents the right to receive one common share in the capital of the company per RSU held subject to the terms and conditions of the plan and the applicable RSU agreement.

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 metres were completed in 2025, and the strength of the results has prompted Arras to plan an expansion of the program to 30,000 metres, with completion targeted by the end of 2026.

Elemes project overview: The Elemes project comprises two exploration licences covering 531 square kilometres in northeast Kazakhstan, located approximately 13 kilometres southwest of Ekibastuz and just 20 kilometres 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 kilometres east) and Kaz Minerals' Bozshakol copper-gold mine (approximately 60 kilometres northwest), which reported mined grades in Q1 2025 of 0.37 per cent copper and 0.20 gram per tonne 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.

A series of epithermal quartz veins have also been mapped and sampled over a two-kilometre strike length at the K-Ozek target that is running along the eastern margin of the Berezski trend.

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's 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 laboratory 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 greatrer than 1.0 per cent copper are analyzed through 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 gram per tonne gold. Samples containing greater than 10.0 grams per tonne gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21).

ALS is an accredited laboratory which 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).

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 the OTCQB under the trading symbol ARRKF.

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