ARRAS MINERALS ANNOUNCES MOBILIZATION OF 3rd and 4th DIAMOND DRILL RIGS TO ELEMES PROJECT IN KAZAKHSTAN

• On 2026‑04‑07 Arras Minerals announced mobilization of a third and fourth diamond drill rig to the Elemes Project in Kazakhstan, doubling current drilling capacity.
• The company plans ≥20,000 m of focused drilling on the Berezski Trend in 2026, with an eventual expansion to a 30,000 m Phase‑II program targeted for completion by year‑end.
• Five holes have already been completed since February; assays are pending. Early results include notable copper‑gold intercepts such as EL24004 – 138.8 m @ 0.77 g/t Au & 0.09% Cu and EL25019 – 457.5 m @ 0.61 g/t Au, 0.10% Cu.
• The release also notes a restricted share unit (RSU) grant of 349,617 units to senior officers/employees with vesting in 2027.

The news represents an incremental expansion of an already announced drilling program: - Prior releases (e.g., March 2 2026 high‑grade hole EL25027 at Berezski North, February 20 2026 recommencement of drilling) outlined plans to increase rig count and expand the Phase‑II program from ~20,000 m to up to 30,000 m. - The financing completed in April 2025 (C$16.1 M private placement) was explicitly earmarked to fund the Phase‑II exploration program at Elemes, providing the cash needed for the additional rigs and metres disclosed today. - No surprise financing, joint‑venture partner change, or resource estimate update accompanies the announcement; it is essentially a follow‑up execution of previously communicated plans. Therefore, while the development is positive (more rigs → faster data generation), it is routine‑positive rather than material or game‑changing.

Arras Minerals Corp is a TSX‑V listed exploration company focused on copper‑gold projects in Kazakhstan. Its flagship asset is the Elemes Project, covering 531 km² in northeastern Kazakhstan, approximately 13 km southwest of Ekibastuz. The project lies within the Bozshakol‑Chingiz metallogenic belt, host to major operating copper‑gold mines (e.g., Bozshakol). Elemes benefits from excellent infrastructure: a paved highway, a 1,100 kVA power line, and heavy rail within 15 km. Exploration to date has identified the Berezski Trend, a >10 km‑long corridor hosting multiple porphyry centres (Berezski North, Central, East) and a prospective new centre at Novii, with mineralization open along strike and at depth.