ARRAS MINERALS DRILLS 276 METERS GRADING 0.58% CUEQ INCLUDING 104 METRES GRADING 1.14% CUEQ STARTING AT SURFACE ON BEREZSKI NORTH TARGET & ANNOUNCES CHANGES TO BOARD OF DIRECTORS

Executive Summary

• Drill hole EL25016 intersected 276 m grading 0.58% CuEq from surface, including a high‑grade interval of 104 m at 1.14% CuEq and a 52 m zone at 1.64% CuEq.
• The results expand the known mineralized corridor at Berezski North to ~600 m NW‑SE and remain open in multiple directions, supporting continued Phase II drilling through year‑end and into 2026.
• Board of Directors was updated: Christian Milau resigned; Scott Heffernan was appointed, bringing extensive senior exploration experience. The company also granted 300,000 stock options at C$0.82 per share to directors.

Key Details

• Drill Hole EL25016 – Full Interval (0‑276 m):
• CuEq = 0.58% (Au 0.32 g/t, Cu 0.21 %).
• Including 104 m interval (0‑104 m):
• CuEq = 1.14% (Au 0.63 g/t, Cu 0.46 %).
• Including 52 m interval (48‑100 m):
• CuEq = 1.64% (Au 0.86 g/t, Cu 0.72 %).

• Assay methodology: US$3.75/lb Cu, US$3,000/oz Au, US$35/oz Ag, US$30/lb Mo; 90% metallurgical recoveries applied.

• Geological context: Upper hole intersected weathered andesites with strong argillic alteration hosting high‑grade copper mineralization; deeper sections showed propylitic alteration in diorite xenoliths.

• Phase II Drill Program:

• Total planned depth ≈ 20,000 m across Berezski and Aimandai trends.
• Nine holes completed to date; assays pending on several.
• Ongoing MT and gravity surveys guiding target refinement.

• Drilling to continue through end‑2025 and into 2026.

• Project Overview – Elemes:

• Two licences covering 531 km² in NE Kazakhstan, ~13 km SW of Ekibastuz, with excellent infrastructure (paved highway, 1,100 kVA power line, rail).

• Located within Bozshakol‑Chingiz metallogenic belt near major copper‑gold deposits.

• Board Changes:

• Christian Milau resigned to become President of Eldorado Gold Corp. (effective today).

• Scott Heffernan appointed; former EVP Exploration at Equinox Gold, extensive M&A and senior exploration background.

• Stock Option Grant:

• 300,000 options granted to directors at C$0.82 per share, five‑year term, vesting 1/3 immediately, 1/3 on 2026‑09‑08, 1/3 on 2027‑09‑08.

Notable Quotes

• Tim Barry, CEO: “The results from Hole EL25016 … intersected thick zones of high‑grade copper‑gold mineralization from surface… This is a positive outcome for this most recent drill hole and for future follow‑up targeting.”
• Brian Edgar, Chairman: “We are very pleased that Scott has agreed to join the Board and know that his strong geological and technical experience globally will be a timely addition as we continue to advance our opportunities in Kazakhstan.”