Mr. Tim Barry reports

ARRAS MINERALS MOBILIZES TWO ADDITIONAL DRILLS TO THE ELEMES PROJECT FOR TOP-OF-BEDROCK (KGK) PROGRAM IN KAZAKHSTAN AND FILES NI 43-101 TECHNICAL REPORT ON THE ELEMES PROJECT

Arras Minerals Corp. has commenced a top-of-bedrock (KGK) drilling program at its Elemes project in northeastern Kazakhstan, advancing what is emerging as a district-scale copper-gold system.

Program highlights:

• Approximately 5,000 metres of drilling planned to evaluate the Berezski trend;
• Approximately 1,000 metres of drilling planned to test the core of the 14 km Aimandai geochemical anomaly located approximately seven kilometres east of the Berezski trend;
• Program designed to delineate the extent of known mineralization under shallow cover and test for additional porphyry centres.

Late last year, the company completed a 64-hole KGK program that expanded the footprint under shallow cover of copper-gold mineralization at Berezski Central and Berezski East to over 1,000 metres of strike length. Mineralization remains open to the north and south, highlighting the potential for significant expansion of mineralization along this highly prospective corridor.

Burstroy Drilling has been engaged to conduct approximately 6,000 metres of KGK drilling that has been designed to rapidly evaluate the Berezski and Aimandai trends, and prioritize targets for diamond drilling over the next few months.

Tim Barry, chief executive officer of Arras Minerals, commented: "In late 2025, we tested a section of the Berezski trend with KGK -- drilling that expanded the footprint of the Berezski Central and Berezski East targets and identified additional exploration targets. This top-of-bedrock drilling has proven to be a great tool to quickly prioritize targets for diamond-drill testing over large areas with shallow cover masking the geology. Given the success in the initial program, we are focusing on Berezski East, and farther along strike north and south from Berezski Central in this emerging large-scale corridor. Additionally, at Aimandai, we're targeting the core of the 14 km soil anomaly to identify targets for follow-up initial diamond-drilling."

Top-of-bedrock (KGK) drilling at Berezski

In December, 2025, the company announced results from a 64-hole KGK drilling program across Berezski Central and Berezski East, materially advancing the understanding of geology and Cu-Au (copper-gold) mineralization beneath shallow cover. The program not only expanded the known footprint, but demonstrated that KGK drilling is a rapid, scalable method for vectoring along the 8.8 km Berezski trend and for targeting additional mineralized centres.

In 2026, approximately 200 KGK drill holes are planned along the Berezski trend to unlock the broader potential of the system. Drilling will focus on:

• Evaluating the large, demagnetized corridor between Berezski Central and Berezski North, interpreted to reflect magnetite-destructive alteration associated with porphyry-style mineralization.
• Advancing exploration of the Berezski East gold zone, coincident with a linear magnetic high interpreted to represent stockwork magnetite-quartz-chalcopyrite veining associated with gold mineralization.
• Testing the footprint of gold mineralization identified during the 2025 KGK program within the magnetic low immediately east of the Berezski East target, to determine whether it is related to Berezski East mineralization or represents additional new gold zones.
• Expanding the Berezski Central target southward toward the Novii porphyry target.

This program is designed to materially increase the scale and continuity of mineralization and generate high-priority diamond-drill targets.

Top of bedrock (KGK) drilling at Aimandai

In 2024, the company completed a property-wide soil sampling program that identified a large, previously unexplored 14 km by 3.2 km northeast-southwest-trending copper (Cu) and arsenic (As) anomaly in the eastern portion of the property. The anomaly is interpreted as indicative of an intermediate- to high-sulphidation epithermal system, potentially overlying a preserved porphyry system. Field mapping and sampling confirmed the presence of coincident altered rocks characteristic of a porphyry alteration system.

A 64.4-square-kilometre ground magnetic survey and a seven-line, 21.6-line-kilometre induced polarization (IP) survey over the Aimandai target has subsequently been completed. The IP survey identified multiple chargeability anomalies that may be associated with disseminated sulphide mineralization. These anomalies are spatially coincident with resistivity lows, potentially indicating structurally controlled hydrothermal alteration zones. The anomalies exhibit consistent north-northeast and south-southwest and northwest-southeast structural trends.

The ground magnetic survey identified several discrete magnetic highs interpreted to be associated with intrusive rocks. The results have enabled the company to further refine the structural framework of the Aimandai target and prioritize areas for follow-up exploration.

The company is plans to drill 50 KGK holes to systematically explore the core of the Aimandai anomaly. The program is designed to rapidly evaluate the anomaly, determine its origin and define priority targets for follow-up diamond drilling.

Exploration update

Four diamond drill rigs are currently operating at Elemes with nearly 7,000 metres drilled since activities recommenced in February. Two holes have been completed at Berezski East, seven holes have been completed at Berezski North and a single hole on the K-Ozek target, which is testing a series of epithermal gold veins mapped and sampled over a two-kilometre strike length.

Elemes phase II drill program: Since June of last year, Arras Minerals has been advancing its 20,000 m 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 northeast Kazakhstan, located approximately 13 km 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 km 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 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 Cu-Mo-As 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 m 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 been mapped and sampled over a two km strike length at the K-Ozek target that is running along the eastern margin of the Berezski trend. The company is planning to drill several holes into this target to test its potential.

Elemes project NI 43-101 report: Arras is also pleased to announce it has filed a National Instrument 43-101 technical report for the Elemes copper-gold project. The technical report was prepared for the company by Trevor Wright, MSc, who is a qualified person (within the meaning of NI 43-101) and independent of Arras (within the meaning of Section 1.5 of NI 43-101). The technical report highlights Elemes as a large, gold-rich copper-gold porphyry and epithermal system within the Bozshakol-Chingiz metallogenic belt and covers multiple target areas along the Berezski mineralized trend, including Berezski Central, Berezski East, Berezski North, K-Ozek and Novii.

Issuance of DSUs: The company has granted an aggregate of 48,217 deferred share units (DSU) to certain independent directors at a price of 78 cents per DSU. The DSUs were granted in consideration for services rendered by the directors for the quarter ended April 30, 2026, 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. To date, the company has issued a total of 206,755 DSUs to its independent directors.

Quality assurance and quality control

The company adheres to CIM 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 sawed 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 negative 200 mesh. The prepared sample splits were sent to the 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 greater than 1.0 per cent copper are analyzed via method Cu-OG62.

Gold analysis was conducted by ALS Chemex at the analytical laboratory in Karaganda, Kazakhstan. Gold was analyzed by fire assay (30 g) 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 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 NI 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 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-V under the trading symbol ARK and on the OTCQB under the trading symbol ARRKF.

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