Arras Minerals Announces Acquisition of Three New Exploration Licenses IN Northeastern Kazakhstan
ARRAS MINERALS ANNOUNCES ACQUISITION OF THREE NEW
EXPLORATION LICENSES IN NORTHEASTERN KAZAKHSTAN
February 13, 2022
Vancouver, British Columbia – Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is
pleased to announce the acquisition of three additional mineral exploration licences in Pavlodar
Province, Kazakhstan. The new licences held by the Company’s local subsidiary cover a total of
364 square kilometers (“sq km”) in northeastern Kazakhstan.
Highlights :
A total of three new mineral exploration licenses t otaling 364 sq km have been granted by the
Ministry of Industry and Innovational Development, Government of Kazakhstan, increasing the
Company’s total land package in northeastern Kazakhstan to more than 3,300 sq km.
• The license acquisitions further strengthen the Com pany’s position as the largest license
holder in the highly prospective Bozshakol-Chingiz metallogenic belt.
• All licenses are located within a 120 km radius of Arras' operational base in the city of
Ekibastuz, Pavlodar Province, facilitating cost-effective exploration.
• Compilation, digitization, and interpretation of So viet-era geological and geophysical
datasets for the new licenses has identified multip le targets for porphyry, epithermal,
volcanic-hosted massive sulfide (“VHMS”), and orogenic gold mineralization.
• Arras has established the third-largest license package prospective for copper-gold in the
Republic of Kazakhstan behind Rio Tinto and Fortescue Metals Group.
Arras CEO, Tim Barry, spoke about the acquisition o f the new license areas saying, "We are
capitalizing on our position as an early player in the highly promising Bozshakol-Chingiz belt and
have added valuable licenses to our portfolio. Last year, we completed our first field season and
the results of our examination of Soviet-era data sets and recent geophysical surveys have led us
to make these acquisitions. The Company continues to seek opportunities to enhance its project
portfolio and we anticipate the analysis of the over 16,000 soil samples collected during the field
season to be finished in the coming months. This wi ll precede the start of our regional field
program in May, where we plan to follow up on newly identified high-priority targets."
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Figure 1. Arras’ mineral exploration licenses in northeastern Kazakhstan, showing the newly granted licenses. Also shown is
the location of Arras’ exploration office in the city of Ekibastuz and the producing Bozshakol and Maikain mines.
Qualified Person: The technical information of this news release has been reviewed and
approved by Tim Barry, a Chartered Professional Geo logist MAusIMM CP(Geo), and a qualified
person for the purposes of National Instrument 43-101.
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
Further information can be found on the Company’s website https://www.arrasminerals.com or
follow us on LinkedIn: https://www.linkedin.com/company/arrasminerals
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About Arras Minerals Corp: Arras is a Canadian exploration and development com pany
advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option
Agreement on the Beskauga copper and gold project. The Company’s shares are listed on the
TSX-V under the trading symbol “ARK”.
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses
the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be disclosed
by, NI 43-101. The Company advises U.S. investors t hat these terms are not recognized by the SEC. The estimation of measured,
indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of
proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be
converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic
viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred
mineral resources exist, are economically minable, or will be upgraded into measured or indicated mine ral resources. Under
Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only
permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in pl ace tonnage and grade
without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar
information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future
events and Arras’ future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act
of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking
statements include, among others, statements regard ing the use of net proceeds from the recent private placement, plans and
expectations of the drill program Arras is in the p rocess of undertaking, including the expansion of t he Mineral Resource, and
other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations,
estimates, forecasts, and projections about Arras’ exploration projects, the industry in which Arras o perates and the beliefs and
assumptions of Arras’ management. Words such as “ex pects,” “anticipates,” “targets,” “goals,” “project s,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expression s and references to future
periods, are intended to identify such forward-look ing statements. Forward-looking statements are subj ect to a number of
assumptions, risks and uncertainties, many of which are beyond management’s control, including undertaking further exploration
activities, the results of such exploration activit ies and that such results support continued explora tion activities, unexpected
variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing,
and other matters discussed under the caption “Risk Factors” in the Non-Offering Prospectus filed on t he Company’s profile on
SEDAR on May 31, 2022 and in the Company’s Annual Re port on Form 20-F for the fiscal year ended October 31, 2021 filed with
the U.S. Securities and Exchange Commission filed o n February 17, 2022 available on www.sec.gov. Reade rs are cautioned that
forward-looking statements are not guarantees of fu ture performance and that actual results or develop ments may differ
materially from those expressed or implied in the f orward-looking statements. Any forward-looking stat ement made by the
Company in this release is based only on information currently available and speaks only as of the date on which it is made. The
Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made
from time to time, whether as a result of new information, future developments, or otherwise.