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Arras Minerals Provides a Summary of Analytical Results from 2022 Exploration Field Program

Arras Minerals Corp. (“Arras” or “the Company”) is pleased to provide a summary of the analysis completed from the Company’s 2022 regional exploration field program.

Highlights of the Analytical Results from 2022 Exploration Field Program:

  • Over 16,000 soil samples were collected during the Arras summer field program and analyzed using a portable X-ray fluorescent (pXRF) analyzer. The samples were taken from the Beskauga, Ekidos, Stepnoe, Elemes, Nogurbek, and Akkuduk license areas.
  • The pXRF results confirmed the presence of widespread mineralization in the targeted areas that were identified through Arras’ 2022 work program and historic Soviet-era geological reports.
  • The results show three potential copper porphyry targets, along with an epithermal gold and a very promising nickel target which will be followed up in 2023.
  • In addition to identifying geochemical anomalies, the pXRF analysis of the soils has also been instrumental in mapping out the geology and alteration of our licenses where outcrop is scarce.
  • It is important to note that due to the limitations of the pXRF technology, the results of the soil program can only be considered indicative of mineralization.

Tim Barry, CEO of Arras, commenting on the results from the 2022 regional field programs, stated,We are pleased to announce the summary results of our extensive 2022 soil sample program. The results have confirmed the presence of mineralization in areas that we initially identified as promising through Arras' geophysical surveys and by reviewing historical Soviet-era reports. Furthermore, the pXRF analysis has revealed additional areas of interest that we will prioritize for follow-up during this year's field program. We look forward to following up the prospects identified in 2023.”

The Company is finalizing logistical planning for the 2023 field program which is now underway, and includes the three additional licenses that were secured earlier this year (Bozshakol South, Aimandai & Besshoky). Arras also continues to drill at the Beskauga license and is currently testing new target areas outside of the Beskauga main deposit identified from the Arras geophysical and KGK drilling program in 2021/2022.

Qualified Person: The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist MAusIMM CP(Geo), and a qualified person for the purposes of National Instrument 43-101.


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