Arras Minerals Corp. (TSX-V: ARK) (OTCQB: ARRKF) is pleased to report the first results from the 2026 drill program at the Elemes Project in northeastern Kazakhstan.

Drilling re-commenced in late February and the first two holes were collared at the Berezski East target (Elemes Project). Only five holes have been completed by Arras on this target which is evolving into the third porphyry centre discovered on the Berezski Trend over the past two years.

Berezski East is a gold-rich porphyry system, emplaced along a NE-SW structural corridor. Mineralization consists of magnetite and quartz-sulphide veins and local bornite dissemination that appear to be outlined by a prominent magnetic high feature that can be traced along strike for at least 800 metres. Gold-copper mineralization has been encountered from surface down to more than 400m depth with higher grade intervals approaching and exceeding 1 g/t Au over core lengths greater than 100 metres. In drill-hole EL26031, a fault zone was intersected at 315m depth after which a significant increase in brecciation along with increased potassic alteration and a notable increase in veining and copper-sulphide mineralization was encountered. This new zone reported higher copper values than had previously been encountered at this target and is potentially a new vector towards the core of the system.

Highlights include:

• EL25031: 115.7m grading 1.44 g/t Au and 0.24% Cu starting from 317.3m depth within a broader zone of 424.0m grading 0.50 g/t Au and 0.12% Cu starting from 9.0m depth.
• Hole EL26031 intersected a broad zone of porphyry style alteration and mineralization across the entire hole starting from near surface and included a high-grade interval at depth after a fault zone intersected at 315m depth where alteration and mineralization increased significantly.
• An extensive magnetic high, that can be traced for at least 800m strike length (see Figure 2), is associated with the Au-Cu mineralization at Berezski East and thought to be caused by the magnetite and quartz-sulphide veining hosting the gold-copper mineralization. To date, approximately 400m of magnetic high has been drill-tested.

Tim Barry, CEO of Arras Minerals commented, “We are pleased to report the Berezski East target is firming up as a third porphyry centre on the Berezski Trend. Hole EL26031 has confirmed and extended gold mineralization intersected by earlier drilling but importantly also intersected a major fault zone that appears to act as a key structural control on mineralization. Below this structure, there was a significant increase in the intensity of alteration, veining and mineralization indicative of a robust mineralized system. The five holes that we have drilled to-date cover 400 metres of strike and the target, we believe, stretches at least a further 400 meters to the Northeast.” He went on to add, “We are planning a top-of-bedrock (KGK) drill program over the Berezski East target to help define the footprint of the gold-copper mineralization under the cover at this target that we will then follow-up with diamond drilling on priority targets here.”

 Drilling Summary:

Drilling at Berezski East continues to return wide zones of high-grade gold mineralization demonstrating the growing scale of this system. The mineralized zones are running NE/SW and are coincident with a linear magnetic high. However, results from the KGK drilling announced in December 2025 has identified good gold values in the adjacent magnetic low to the east, suggesting several parallel gold systems in this area.  Arras has completed five holes here which has confirmed strong Au-Cu mineralization over a 400m strike length and to a depth of at least 400m.

Hole EL26031 was particularly encouraging as it has extended mineralization to significant depths and confirms the presence of a large, vertically extensive porphyry-style hydrothermal system at Berezski East. It intersected wide zones of gold-copper mineralization, with alteration and vein density increasing significantly below a major fault zone intersected at 315m down-hole. This appears to demonstrate an important structural control on the mineralization which the company believes is the reason hole EL26030 only returned narrow zones of gold as it appears to have been drilled adjacent to this important structure.

Mineralization at surface consists of quartz-magnetite-chalcopyrite veinlets, with intervals of minor quartz B- and M-type veins. At 315m depth, after a significant fault, the intensity of quartz-magnetite-chalcopyrite veining increases markedly, these veins were typically surrounded by halos disseminated chalcopyrite and minor bornite, that continued to 435m depth, to a second fault zone, after which mineralization decreased.

The geology, alteration, and mineralization logged at the top of this hole are consistent with the outer portions of a porphyry system, and the deeper mineralization could represent the core of this system.

Hole EL26030 was designed to test the northern continuation of the Berezski East Au–Cu mineralization. The hole intersected a thick sequence of fine- to medium-grained diorites and andesites. Alteration is dominated by moderate propylitic assemblages, with localized zones of potassic alteration at depth, and mineralization consists of very fine disseminated pyrite and chalcopyrite, along with intervals of D-type veining and localized bornite within M-type veins.

The geology, alteration, and mineralization observed in hole EL26030 are consistent with the margins of a porphyry system, and the hole appears to have been drilled in the footwall of the structures that control the high-grade Au-Cu mineralization intersected in holes EL25019 and EL26031.

Results from this news release include:

Table 1: Summary results from Berezski East drill-holes

Table 2. Drill-hole locations

Exploration Update

Four diamond drill rigs are now operating at Elemes. Three rigs are located at the Berezski North target and one rig recently commenced at the Novii target. To date, 7 holes and nearly 5,000 meters have been completed at Elemes since drilling re-commenced in late February with 5 holes pending assays.

Core photos

Elemes Phase II Drill Program: Since June of last year, Arras Minerals has been advancing its 20,000m 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 10,000m were completed in 2025, and the strength of the results has prompted Arras to plan an expansion of the program to 30,000m, with completion targeted by the end of 2026.

Elemes Project Overview: The Elemes Project comprises two exploration licenses 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 1100 KVA 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 (~80 km east) and KAZ Minerals’ Bozshakol copper-gold mine (~60 km northwest), which reported mined grades in Q1 2025 of 0.37% Copper and 0.20 g/t gold. ¹

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 20,000m 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.

References

¹Bozshakol Q1, 2025 Report

https://kazminerals.com/app/uploads/2025/12/q3-2025-production-report_final.pdf

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 2-meter 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 >80% passing -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 multi-element analysis. Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% 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 Corp., 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).

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: US$3.75/lb. Copper, US$3,000/oz Gold, US$35/oz Silver, & US$30/lb Molybdenum.

The Company has updated metal recoveries: 90% for copper, 85% for gold, 75% for silver, and 80% 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 Coper; Valeriano, ATEX Copper; Los Helados, NGEx Resources Inc.; Opemiska, XXIX Metal Corp; Costa Fuego, Hot Chili Limited; Moonlight-Superior, US Copper Corp; Warintza, Solaris Resources, Inc.; Chita Valley, Minsud Resources Corp.; Hat, Doubleview Gold Corp.)

Copper Equivalent grades reported for the drill holes at Elemes were calculated using the following formula: CuEq % = ((Copper (%)) x 0.9) + ((Gold (g/t) x 0.8571) x 0.85) + ((Silver (g/t) x 0.0117) x 0.75) + ((Molybdenum (ppm) x 6.8568) x 0.80).

Gold Equivalent grades reported for the drill holes at Elemes were calculated using the following formula: AuEq g/t = ((Gold (g/t) x 0.85) + ((Copper (%) x 1.1667) x 0.9) + ((Silver (g/t) x 0.0136) x 0.75) + ((Molybdenum (ppm) x 8.0) x 0.80).

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 km line of strike. The Company has established one of the largest land packages in the country prospective for copper and gold.