ARRAS MINERALS INTERSECTS BROAD PORPHYRY COPPER-GOLD MINERALIZATION AT BEREZSKI NORTH, INCLUDING 568.9 METRES AT 0.33% CUEQ; WELCOMES NEW STRATEGIC SHAREHOLDER

Arras Minerals Corp. (ARK) reported four drill results from the Berezski North area at its Elemes project in Kazakhstan. Hole EL26036 returned 568.9m @ 0.33% CuEq from 78.0m, including 168.0m @ 0.51% CuEq. Hole EL26034 returned 399.7m @ 0.26% CuEq from 390.3m, including 95.9m @ 0.47% CuEq.

Hole EL26035 encountered tourmaline breccia from 60.2m, though no significant interval was reported. Hole EL26037 returned weak mineralization in diorite with scattered pyrite-chalcopyrite. The release interprets the two significant holes as testing the margins of the principal porphyry system, with the higher-temperature bornite-bearing core inferred to lie to the southwest.

A new unnamed strategic mining company acquired 11,862,969 shares from Teck Resources, representing approximately 8.3% of Arras. Teck retains no residual ownership.

The company’s program update indicates that 35 holes, roughly 24,000m, were drilled at Elemes in 2026. Four rigs are active, and more than 3,000 samples are pending assay.

Arras Minerals Corp. (ARK) is a junior explorer with no revenue, no mineral resource on Elemes, and no economic study. Drill holes are the value driver, so their grade-and-width substance is the thesis.

The June 2026 anchor was a market-moving discovery/step-out result: the stock re-rated from around C$0.84 on 2026-06-08 to a peak of C$1.94 by 2026-06-19 and still traded at C$1.60 just before this release. This means the market has already embedded a large, high-grade porphyry system. The new best hole carries about 28% of the anchors percent-metres at roughly half the grade, with two of four holes weak.

The intercepts look respectable in isolation but fall well short of what the price assumes. The strategic shareholder transaction may help sentiment but delivers no new exploration value; Teck had already terminated the strategic alliance in February 2026.

Financials prior-period context: Q2 2026 cash was C$5.7 million USD? Actually USD 5.7 million, working capital USD 8.9 million, with going-concern language. The subsequent C$25 million bought deal improves liquidity but does not change the geological outcome.

Arras Minerals Corp. (TSX-V: ARK, OTCQB: ARRKF) is a Canadian junior explorer focused on copper-gold assets in northeastern Kazakhstan. Its key current asset is the Elemes project, comprising 531 square kilometres of exploration licences near Ekibastuz in the Bozshakol-Chingiz metallogenic belt. The Berezski trend contains at least three porphyry centres across 8.8-10 km, including the North, Central, and East centres, plus the Novii and Aimandai targets. No NI 43-101 mineral resource is reported for Elemes, and the project remains early-stage.

While the provided investor presentation mainly covers the Beskauga project with an indicated and inferred resource, it is dated, Beskauga-focused, and not the basis for the current Elemes drilling thesis. In recent corporate activity, Arras closed a C$25 million bought deal in July 2026 at C$1.36 per share. Additionally, Teck exited its 8.3% position in August 2026 to a new unnamed strategic buyer.

Prior-period financial context shows that at April 30, 2026, cash was USD 5.7 million and working capital was USD 8.9 million. The company reported a H1 net loss of USD 3.4 million, and the MD&A flagged going-concern uncertainty.