ARRAS MINERALS OUTLINES 2026 ELEMES EXPLORATION PLAN - DOUBLES DRILL RIGS TO FOUR IN Q1 2026

Executive Summary

• Arras Minerals outlines its 2026 exploration plan for the Elemes Project in Kazakhstan, doubling drill rigs to four by March 2026.
• The Phase 2 drill program is expanded from 20,000m to 30,000m, with ~10,000m completed in 2025 and completion targeted by the end of 2026.
• Recent drilling has significantly expanded copper-gold mineralization footprints at Berezski Central, Berezski North, and Berezski East, and identified a new porphyry target at Novii.
• Geophysical surveys (MT, Gravity, Magnetic) and successful KGK drilling validate new targets and support the presence of multiple large porphyry systems along the 10km Berezski Trend.

Key Details

• Program Expansion & Schedule: Phase 2 drilling expanded to 30,000m total. Two rigs commence in February 2026, with two additional rigs starting in March 2026. Program completion targeted for end of 2026.
• Berezski Trend Overview: Strike length expanded to at least 10 km. Mineralization continues below cover to the south. Grades and widths are consistent with mined grades from operating open-pit copper operations in Kazakhstan.
• KGK Drilling: 6,000m of Top of Bedrock (KGK) drilling planned for Berezski and Aimandai Trends. Q4 2025 64-hole KGK program was highly successful; hole EL25022 returned 29.9m @ 0.63 g/t Au starting at 14.0m.
• Berezski North Intercepts:
• EL24005: 547.0m @ 0.48 g/t Au, 0.23% Cu
• EL25014A: 154.0m @ 0.72 g/t Au, 0.29% Cu
• EL25023: 246.2m @ 0.75 g/t Au, 0.24% Cu
• EL24006: 56.0m @ 0.35 g/t Au, 0.35% Cu
• Berezski Central / East Intercepts:
• EL25012: 578.0m @ 0.21 g/t Au, 0.14% Cu (including 440.0m @ 0.25 g/t Au, 0.16% Cu)
• EL25018: 192.0m @ 0.19 g/t Au, 0.13% Cu (including 76.0m @ 0.28 g/t Au, 0.17% Cu)
• EL24003: 264.0m @ 0.17 g/t Au
• EL25013: 192.0m @ 0.16 g/t Au
• EL24004: 138.8m @ 0.77 g/t Au, 0.09% Cu
• EL25019: 457.5m @ 0.61 g/t Au, 0.10% Cu (including 231.0m @ 0.97 g/t Au, 0.13% Cu)
• Novii Target: Hole NOV25003 returned 57.0m @ 0.10 g/t Au, 0.07% Cu (including 14.0m @ 0.23 g/t Au, 0.08% Cu), interpreted as the distal margin of a porphyry system. A discrete magnetic high 900m south is targeted as a potential porphyry core.
• Aimandai Trend: IP, MT, and gravity surveys delineated conductivity highs with coincident gravity lows. Systematic KGK drilling planned for Q2 2026 to rapidly evaluate targets.
• Geophysics: MT and gravity surveys confirm large conductivity anomalies at Berezski Central (2.5 km x 1.2 km) and link to deeper anomalies. Chargeability highs at Berezski North suggest pyrite halos surrounding potassic cores.
• Project Infrastructure & Location: 531 sq km licenses, 13 km SW of Ekibastuz, 20 km from operational base. Features paved highway, 1100 KVA power lines, heavy rail, and utilities within 15 km. Located in the Bozshakol-Chingiz metallogenic belt near KAZ Minerals' Bozshakol mine (Q1 2025 grades: 0.37% Cu, 0.20 g/t Au).
• QA/QC & Calculations: Samples analyzed at ALS (Karaganda prep, Loughrea/Lima/Peru analysis). Metal prices: Cu $3.75/lb, Au $3,000/oz, Ag $35/oz, Mo $30/lb. Recoveries: Cu 90%, Au 85%, Ag 75%, Mo 80%. CuEq/AuEq formulas and assumptions provided.
• Strategic Alliance: December 2023 alliance with Teck Resources Limited for a US$5 million generative exploration program over a portion of the Arras license package.

Notable Quotes

• Darren Klinck, President: "One year ago this month we announced the initial results from our Phase 1 drilling program at Elemes... Overall, we believe that the outcomes from this first year of work warrants accelerating activity and we are doubling the drills that will be operating at Elemes to four rigs by March this year."
• Darren Klinck, President: "At a time when the world is waking up to the importance of critical minerals... we continue to believe that the Elemes Project holds the near-term potential to demonstrate more than one scalable copper-gold deposit at grades that are consistent with operating copper-gold mines in Kazakhstan today..."