Arras Minerals Corp. (TSX-V: ARK) (OTCQB: ARRKF) is pleased to announce additional drill results from its ongoing 40,000-metre diamond drill program at the Elemes Project in Pavlodar Region, Kazakhstan. The results reported here are from the Berezski Central and K-Ozek targets and provide a much clearer picture of the scale and architecture of the Berezski Trend, where we now see multiple porphyry centres together with a well-preserved epithermal gold system.

Key Highlights:

• Berezski Central
  • EL26042 returned 574m grading 0.40% CuEq from 98m, including 211m grading 0.62% CuEq from 433m with strong Cu-Mo-magnetite veins.
  • EL26041 drilled 707m grading 0.26% CuEq from 4m, including 142m grading 0.29% CuEq from 90 m, with sheeted quartz-chalcopyrite-molybdenite veins developed from 492m to 709m depth that returned 271m grading 0.31% CuEq.
  • The extent and type of mineralization intersected in holes EL26041 and EL26042 support an emerging large and extensive porphyry copper-gold system at the Berezski Central target.
• K-Ozek
  • EL26029 intersected a broad zone grading 0.30 g/t Au over 229m grading from 2m, with a higher-grade core of 25m grading 1.11 g/t Au from 174m.
  • EL26039 drilled 22.8m grading 5.37 g/t Au from 124.2m, including 13.8m grading 8.84 g/t Au and 6.1m grading 17.0 g/t Au.
  • EL26044 returned 40m grading 0.83 g/t Au from 147m, including 2m grading 12.65 g/t Au.
  • The result from K-Ozek highlights a broad envelope of lower-grade gold mineralization with well-developed higher-grade gold zones above 1 g/t Au, and that mineralization occurs across several broad areas rather than being confined to a single isolated structure.

The K-Ozek target sits within a down-dropped block between Berezski Central and Berezski North. We believe this has preserved the higher-level epithermal part of the hydrothermal system that has largely been eroded away over the adjacent porphyry centres. This suggests that there may be another porphyry system preserved at depth beneath K-Ozek. This remains to be tested by drilling.

Tim Barry, CEO of Arras Minerals, commented “These results are really starting to bring the Berezski Trend together geologically. Hole EL26042 is an important hole for Berezski Central. Not only does it deliver another very broad copper-gold interval, but deeper in the hole we start to see a stronger Cu-Mo-magnetite vein assemblage that we would expect as we move further into the porphyry system.

What is particularly exciting is what we are now seeing at K-Ozek. We have intersected high-grade gold in a distinctly higher-level epithermal environment that sits in a down-dropped block between Berezski Central/Berezski East and Berezski North. In simple terms, that block appears to have preserved a part of the hydrothermal system that has been eroded away over the adjacent porphyry centres. That is important because it gives us a very clear geological question to test: if the epithermal system is preserved at K-Ozek, is the porphyry system still preserved beneath it?

We do not yet know the answer to that, and it will require drilling, but the geological model is compelling. Across more than seven kilometres we now have three substantial porphyry systems at or near surface, a preserved high-grade epithermal gold system between them, and the potential for another porphyry centre at depth. That is a very attractive exploration setting and one we intend to test systematically.”

Emerging Geological Model – Berezski Central/Berezski East, K-Ozek and Berezski North

The emerging geological model for the Berezski Trend is relatively simple. Berezski Central/Berezski East and Berezski North deposits expose the deeper level of a porphyry system, while K-Ozek sits within a structurally down-dropped block that has preserved a shallower epithermal system overlying a deeper porphyry center. This remains an exploration concept and has not yet been confirmed by drilling.

Assay results reported in this news release include:

Table 3. Drill-hole locations

Drill-Hole Geological Summaries

Berezski Central Drill holes

EL26041 intersected a broad, 707m long mineralized interval starting at 4m depth. The upper part of the hole is dominated by argillic alteration, passing downward into stronger phyllic alteration with zones of local K-feldspar-magnetite alteration. The hole intersected porphyry-style mineralization at approximately 559.6m depth and consists of sheeted quartz-chalcopyrite-molybdenite veins that terminates at a shear zone at 706.3m, suggesting an offset in mineralization. The alteration and mineralization intersected in this hole is consistent with the argillic-phyllic margin of a porphyry system.

EL26042 intersected 574m grading 0.40% CuEq from 98 m, including a higher-grade zone returning 0.57% CuEq over 211m from 433m depth. The hole started in strongly argillic altered and brecciated diorites before passing into a wide zone of phyllic alteration before entering a feldspar porphyry with zones of silicification that contained stronger copper-molybdenum mineralization, that consisted of quartz-chalcopyrite-molybdenite and quartz-magnetite veins. The alteration and mineralization intersected in this hole is consistent with the phyllic-potassic zone adjacent to the core of the porphyry system.

K-Ozek Drill holes

EL26029 drilled argillic and phyllic altered andesites, with interbedded andesitic tuffs. Alteration was dominated by oxidation and argillic alteration from surface to approximately 80m depth, before passing into a zone of stronger phyllic alteration to the end of the drillhole. The hole intersected 229 m grading 0.30 g/t Au from 2m, including a 25m zone grading 1.11 g/t Au. Mineralization is characterized by pervasive quartz-sulphide-carbonate veins with several wide quartz-base metal sulphide veins hosted in fault zones. The mineral assemblage and alteration are consistent with a structurally focused, high-level epithermal environment.

EL26039 intersected a wide zone of high-grade gold mineralization returning 22.8m grading 5.37 g/t Au from 124.2m, including 13.8m grading 8.84 g/t Au and 6.1m grading 17.0 g/t Au. The high-grade gold mineralization occurs near the transition from argillic volcanic and breccia units. The alteration style and strong structural control are consistent with a high-level epithermal environment.

EL26043 returned several narrow gold-bearing intervals, including 2m grading 1.19 g/t Au from 144m. The hole is dominated by oxidized to hematitic, argillic andesite and breccia cut by repeated faults and hydrothermal structures. The hole defines a broad pyrite-dominant argillic to phyllic alteration and helps delineate the wider mineralized footprint surrounding higher-grade structures.

EL26044 intersected several gold-bearing zones, including 40m grading 0.83 g/t Au from 147m, including 2m grading 12.65 g/t Au, and a second 49m zone grading 0.36 g/t Au from 351m. Mineralization is characterized by pervasive pyrite mineralization with zones of pyrite-rich breccias and quartz-pyrite-arsenopyrite veins containing minor chalcopyrite, sphalerite, galena and molybdenite. Alteration is dominantly argillic with local zones of phyllic. The repeated brecciation, faulting and veining indicate a structurally controlled epithermal system.

EL26048 intersected 317.8m grading 0.15 g/t Au from 40.2m depth including a 40m wide gold zone grading 0.39 g/t Au from 263m. The hole alternates between strongly argillic altered diorites and faulted and fractured volcanic andesites. Mineralization consists of stockwork fine sulphide veinlets, and mineralization is similar to hole EL26029, with pervasive quartz-sulphide-carbonate veins and is consistent with a structurally focused, high-level epithermal system.

Exploration Update

Four diamond drill rigs are currently operating at Elemes. KGK (top-of-bedrock) assay results remain pending from the area north of Berezski North and from the Aimandai Trend, approximately 7 km east of the Berezski Trend. Laboratory turnaround times have extended materially over the past six months, reaching up to approximately 150 days due largely to increased sample volumes together with customs and logistics considerations. Turnaround times appear to be gradually improving.

Stock Option Grant

The Company’s Board of Directors has authorized, pursuant to its Equity Incentive Plan, the grant of 5,605,000 stock options (“Options”) to certain directors, officers, employees and advisors, effective prior to the start of trading on September 29, 2026 (“Grant Date”). Each Option entitles the grantee to purchase one common share (each, a “Share”) in the capital of the Company. The Options were awarded at an exercise price of C$1.33 per Share for a five-year term. The Options vest over 3 years, with 1/3 of the Option vesting immediately, 1/3 vesting on September 29, 2027 and 1/3 vesting on September 29, 2028.

Elemes Project Overview: The Elemes Project comprises two exploration licences covering 531 square kilometres in northeastern Kazakhstan, approximately 13 km southwest of Ekibastuz and about 20 km from Arras’s operational base. The project benefits from established infrastructure, including a paved highway crossing the licence area and access to power, heavy rail and other utilities within approximately 15 km.

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. High-grade low-sulphidation epithermal veins have also been mapped on the property and represent an additional exploration target.

Property-wide soil sampling programs defined two extensive Cu-Mo-As geochemical trends: Berezski and Aimandai. A Phase 1 drill program on the Berezski Trend in late 2024 returned porphyry- and epithermal-style copper-gold mineralization, with results announced in Q1 2025. Approximately 10,000 metres of diamond drilling was completed in 2025 and a further 40,000 metres of drilling is expected to be completed by the end of 2026.

References
¹Bozshakol Q3, 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 sawn in half with a diamond saw and sampled at maximum 2-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 >80% passing -200 mesh. The prepared sample splits were sent to the ALS Chemex geochemical laboratories in Loughrea, County Galway, Ireland and Lima, Peru for multi-element analysis. Multi-element analyses were completed by ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% copper were 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 were 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 submission to the laboratory preparation facility.

Qualified Person: The scientific and technical disclosure for this news release has been prepared under the 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 and a member of the American Institute of Professional Geologists (CPG 12044).

Copper Equivalent (CuEq): Copper equivalent grades are calculated by converting the recovered value of gold, silver and molybdenum into an equivalent copper grade and adding those contributions to the copper grade and then a copper recovery is applied. The calculation uses assumed metal prices of US$3.75/lb Cu, US$3,000/oz Au, US$35/oz Ag and US$30/lb Mo, together with assumed metallurgical recoveries of 90% Cu, 85% Au, 75% Ag and 80% Mo. Each metal contribution is adjusted for its respective recovery and converted to the amount of copper that would have an equivalent recovered value.

Copper Equivalent grades reported for the drill holes at Elemes were calculated using the following formula: CuEq % = ((Copper (%)) + ((Gold (g/t) x 0.8571) x 0.85) + ((Silver (g/t) x 0.0117) x 0.75) + ((Molybdenum (%) x 0.857) 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) + ((Copper (%) x 1.1667) x 0.9) + ((Silver (g/t) x 0.0136) x 0.75) + ((Molybdenum (%) x 6.8568) x 0.80).