Arras Minerals Announces $15 Million Bought Deal Financing

VANCOUVER, June 15, 2026 - Arras Minerals Corp. (TSX-V: ARK, OTCQB: ARRKF) ("Arras" or the "Company") is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on its behalf and on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 11,030,000 common shares of the Company (the "Common Shares") at a price of C$1.36 per Common Share (the "Issue Price"), for aggregate gross proceeds to the Company of C$15,000,800 (the "Underwritten Offering").

The Company shall have the right to designate subscribers to purchase up to 1,470,588 Common Shares at the Issue Price for up to C$2,000,000 (the "President's List") as part of the Underwritten Offering.

Additionally, the Company has granted the Underwriters an option, exercisable in whole or in part by the Underwriters at any time up to 48 hours prior to Closing (as defined below), to purchase up to an additional 1,654,500 Common Shares at the Issue Price for additional gross proceeds of up to C$2,250,120 (the "Underwriters' Option" and, together with the Underwritten Offering, the "Offering").

The net proceeds of the Offering will be used to fund exploration and development of the Company's properties in Kazakhstan and for working capital and general corporate purposes as described in the Offering Document (as defined below).

The Offering is expected to close on or about July 7, 2026, or such other date as may be agreed to by the Company and the Underwriters (the "Closing"). Closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange (the "TSXV"). Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers resident in Canada, except Québec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended and supplemented by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Common Shares offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.

There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.arrasminerals.com. Prospective investors should read this Offering Document before making an investment decision.

The Company has agreed to pay the Underwriters a cash commission equal to 6.0% of the aggregate gross proceeds raised under the Offering.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. "U.S. person" and "United States" are as defined in Regulation S under the U.S. Securities Act.

About Arras Minerals Corp.

Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project where initial drill results in 2025 identified porphyry style mineralization across a 10km line of strike. The Company has established one of the largest land packages in the country prospective for copper and gold. The Company's shares are listed on the TSXV under the trading symbol "ARK" and on the OTCQB under the trading symbol "ARRKF".

On behalf of the Board of Directors,

"Tim Barry"

Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director

INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com

Further information about the Company can be found on:

• the Company's website: https://www.arrasminerals.com
• follow us on LinkedIn: https://www.linkedin.com/company/arrasminerals
• follow us on X (formerly Twitter): https://twitter.com/arrasminerals
  
  

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the size of the Offering, the use of proceeds from the Offering, the anticipated Closing date and the receipt of regulatory approvals for the Offering. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of that word and phrases or statements that certain actions, events or results "will", "could" or are "intended to" be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk, geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.