VANCOUVER, BC, July 9, 2026 - Arras Minerals Corp. (TSXV: ARK) (OTCQB: ARRKF) ("Arras" or "Arras Minerals" or "the Company") wishes to announce that following the closing of the upsized $25 million Bought Deal financing this week, the company is expanding its current 2026 drilling program by 100% to 40,000m for completion by year-end.

Mr. Darren Klinck, President & Director of Arras Minerals commented,"We are very pleased with the strong support from current and new investors in the recently closed upsized bought deal financing. The completion of the financing underpins a strong financial position for the company and allows it to continue advancing its expanding exploration programs in Kazakhstan through to the end of 2027. This strong financial position will allow us to maintain momentum with the excellent progress we have made over the past six months with four drill rigs operating. We are doubling the size of the current drill program to 40,000m that we aim to complete by the end of the year."

Mr. Tim Barry, CEO & Director commented,"With more than 30,000 meters drilled by Arras so far at the Berezski Trend on the Elemes Project, we are improving our understanding of the geology and structure across the approximately 10-kilometre strike with at least three porphyry centres identified. As we move into the second half of the year with this expanded drill program, we will be balancing definition drilling initiatives at Berezski North, Central and East alongside continued exploration and new target testing throughout the trend. Results from the 6,000m top of bedrock (KGK) program are expected in the next couple of weeks and these will inform on priority targets at Berezski East, Berezski Central and in the 5 km zone between Berezski North and Berezski Central. We also plan to evaluate targets at the Aimandai Trend located approximately 7 kilometres to the east."

Elemes Exploration Update

Drilling

Drilling is progressing very well, at present, four drills are operating at Elemes. In total 27 holes have been completed, and over 18,000m have been drilled to date. Complete assay results have been received from just 4 holes to date, as preparation and assay laboratories have been dealing with extreme volumes, which have led to increasing delays in receiving final assay results. The Company is working with accredited local and international assay laboratories to try and speed up this process.

Drilling in 2026 has focused on the Berezski North, Central and East targets. However, several exploration holes have also been drilled at Novii as well as the K-Ozek epithermal target to determine its potential.

At Berezski North, the Company focused initial drilling to explore and better understand the controls and extent of the porphyry and breccia-style mineralization with 8 wide-spaced drill-holes, and assay results for 6 holes are still pending:

• Holes EL26034, EL26036 and EL26038 were large step-outs, ranging from 200m to 400m, and designed to explore the underlying porphyry mineralization and to see if the breccia zones continued to depth.

• Holes EL26035 and EL26037 were designed to explore for the eastern continuation of the high-grade breccias to see if they connect with mineralization hit in hole EL25016 located approximately 300m to the east.

• Hole EL26040 was designed to explore a large chargeability anomaly along the eastern margin of Berezski North target to determine its source.

The Company plans to return to drill the Berezski North target next week to conduct a systematic drill program to determine the scale of the porphyry and breccia zones.

In May, the Company completed a top of bedrock (KGK) drill program over the Berezski and Aimandai Trends. In total 381 holes were completed, totalling 6,002 m.

At Berezski, the KGK drilling targeted the 5 km long magnetic low anomaly between the Berezski Central and Berezski North targets, as well as a large, coincident Cu-Mo soil geochemical anomaly to the north of Berezski North.

In addition, high-density KGK drilling was conducted over the Berezski East-K-Ozek trend to determine the scale of the Au anomaly identified in the 2025 KGK program, and an initial drill-program was conducted over the core of the Aimandai trend to define priority targets for future diamond drilling.

Assay results from the KGK program are expected to be received over the next few weeks.