TSX-V: ARK / OTCQB: ARRKF
VANCOUVER, BC, July 9, 2026 /CNW/ - 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.