ARRAS MINERALS DRILLS 574 METRES @ 0.40% CUEQ (0.23 G/T AU, 0.11% CU, 0.76 G/T AG, 38.84 PPM MO) AT BEREZSKI CENTRAL AND INTERSECTS 22.8 METRES @ 5.37 G/T AU ON THE NEWLY DEFINED EPITHERMAL TARGET AT K-OZEK IN KAZAKHSTAN

Arras Minerals Corp. (ARK) has released assay results from seven drill holes at its Elemes Project, covering both the Berezski Central porphyry-style copper-gold deposit and the newly defined K-Ozek epithermal gold target.

At Berezski Central, hole EL26042 returned 574m grading 0.40% CuEq from 98m, including an interval of 211m grading 0.62% CuEq from 433m. Average grades within this headline interval were 0.23 g/t Au, 0.11% Cu, 0.76 g/t Ag, and 38.84 ppm Mo. Hole EL26041 intersected 707m grading 0.26% CuEq from 4m, which included 142m grading 0.29% CuEq from 90m, as well as a deeper 271m zone grading 0.31% CuEq from 492m to 709m.

Results from the K-Ozek target included the following intercepts:

• EL26039: 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.
• EL26029: 229m grading 0.30 g/t Au from 2m, including 25m grading 1.11 g/t Au from 174m.
• EL26044: 40m grading 0.83 g/t Au from 147m, including 2m grading 12.65 g/t Au, plus a second 49m zone grading 0.36 g/t Au from 351m.
• EL26048: 317.8m grading 0.15 g/t Au from 40.2m, including 40m grading 0.39 g/t Au from 263m.
• EL26043: 2m grading 1.19 g/t Au from 144m.

The company noted that all intervals are reported as core lengths, with true widths and cutoff grades not stated in the release. Additionally, the disclosure included a 5,605,000 stock option grant at C$1.33 per share, vesting over three years.

Arras Minerals Corp. (ARK) is a pre-revenue exploration company with a market capitalization of roughly C$179 million. It currently holds no resource estimate, economic study, or production at its Elemes project, with drill results serving as the primary driver of the equity story.

The company has identified K-Ozek, a newly defined epithermal gold target featuring a high-grade assay of 22.8m at 5.37 g/t Au. This represents a new zone with assay data, distinct from visual indicators or historical grabs, and introduces a new gold dimension alongside the existing porphyry copper-gold narrative.

At Berezski Central, EL26042 represents a wide, good-band porphyry intercept, though at 0.40% CuEq it is materially lower grade than the June Berezski North anchor. EL26041 is long but of marginal grade.

The June EL26032 result, which saw the stock more than double into late June, remains an embedded anchor. A new copper intercept at 35% of the anchor's %-metres and lower grade would ordinarily be viewed negatively if it were the sole news. However, this is offset by the K-Ozek high-grade gold discovery, which had not been priced by the market.

The stock has drifted from C$1.94 to C$1.25, indicating the market is not extrapolating the June result at all costs. A genuinely new epithermal gold zone remains material at this stage. The K-Ozek discovery constitutes a genuinely new high-grade gold zone plus continued porphyry scale confirmation, adding a new exploration front not included in previous pricing.

Arras Minerals Corp. (TSX-V: ARK, OTCQB: ARRKF) is a Canadian exploration and development company currently focused on the Elemes Project in the Pavlodar Region of northeastern Kazakhstan. The project comprises two exploration licences covering 531 square kilometers, located approximately 13 kilometers southwest of Ekibastuz and 20 kilometers from the company’s operations base. Situated within the Bozshakol-Chingiz metallogenic belt, the site lies about 60 kilometers northwest of KAZ Minerals’ Bozshakol copper-gold mine and roughly 80 kilometers from the Beskauga porphyry deposit. Infrastructure, including a paved highway, power, heavy rail, and utilities, is available within approximately 15 kilometers.

Recent investor materials have been identified as stale, focusing primarily on the Beskauga copper-gold project and an older resource estimate rather than current Elemes disclosures. No Elemes resource estimate is provided in the current materials.

In the nine months ended Q3-2026, the company reported a net loss of US$7,555,774, holding cash of US$19,701,567 and total equity of US$23,284,505. There were 143,514,174 shares outstanding, and the company issued an explicit going-concern flag. Arras faces $29.3 million in mandatory exploration licence commitments over five years. A financing round in July 2026 raised approximately $25 million at C$1.36 per share, which strengthened the balance sheet but resulted in dilution. This followed the termination of a funding stream from the Teck alliance in February 2026.