Canadian Explorer Finds 900m+ Copper-Gold Mineralization in Northeast Kazakhstan

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Arras Minerals Corp. (ARK:TSX.V; ARRKF:OTCMKTS) announced drill results from its Berezski North Target of the Elemes Project in Northeast Kazakhstan on June 9, 2026. Two holes — EL26032 and EL26033 — were covered in the release.

Highlights include:

EL26032

• 935.9m grading 0.71% Copper Equivalent (CuEq - 0.51 g/t Au (gold) and 0.19% Cu (copper)) from surface, including 214.9m grading 1.42% CuEq (1.01 g/t Au and 0.41% Cu) starting at 162.1m depth. Hole terminated in mineralization.
• High-grade breccia mineralization returned 4.41% CuEq (3.27 g/t Au and 1.22% Cu) over 55.0m from 216.0m depth.

EL26033

• 52m grading 1.75% CuEq (1.14 g/t Au and 0.64% Cu) from 259.0m depth, within a zone grading 181.0m at 0.66% CuEq (0.43 g/t Au and 0.24 % Cu) from 170.0m depth
• Hole terminates in distal porphyry-style mineralization grading 0.15% CuEq (0.11 g/t Au and 0.04% Cu) over 127.2m from 503.0m depth.

CEO of Arras Minerals, Tim Barry, said in the release: "These latest results from Berezski North represent a step-change for the company. Intersecting more than 900 meters of porphyry-style mineralization from surface is a very significant result that has materially advanced our understanding of the scale and potential of this target. This drilling also confirmed the near-surface, high-grade breccias, and has extended their strike length to now over 600 meters. Importantly, the system remains open in multiple directions and at depth. These drill results, combined with the coincident 3 km x 2 km geophysical and geochemical footprint we observe in the data, suggest there is still significant potential to be unlocked at the Berezski North Target. An additional six holes have been drilled with assays pending, and once these results are received and interpreted, we expect to bring the drills back to Berezski North to follow up on additional targets."

The drill program was designed to explore the shallow breccias located and determine the extent of their underlying porphyry mineralization. So far, eight holes have been completed at the Berezski North target since drilling began in early 2026, and the company feels that the results from these two holes confirm the presence of a large, well-developed porphyry system that is open in multiple directions and to depths exceeding 900 meters, with a strike length of over 600 meters.

Barry went on to say, "Looking at the bigger picture along the entire 8.8-kilometer Berezski Trend, it is important to note that the Berezski North target sits more than 5 km north of both the "Berezski East target," where we recently announced 115.7 m grading 1.44 g/t Au and 0.24% Cu, and the "Berezski Central Target," where we previously announced 261 m grading 0.64% CuEq from surface. At the K-Ozek target that runs along the eastern margin of the Berezski Trend, a series of quartz veins is exposed over a 2 km strike length by historic Soviet trenching. Previously reported sampling returned 27 grab samples grading greater than 5 g/t Au. Over the past month, drilling has tested portions of the K-Ozek area, with three holes completed and one underway, with assays pending. The drilling has intersected a series of quartz-sulphide veins surrounded by a wide zone of stockwork sulphide veining. Arras currently has four diamond drill rigs on site focused on the Berezski Trend as part of its ongoing 20,000 m drill program this year."

Arras is a Canadian exploration company advancing a portfolio of copper and gold assets in Kazakhstan.

Copper and Gold in Demand

Gold and copper remain safe haven assets but are still vulnerable to fears of inflation and geopolitical uncertainties, as has been evidenced by the ongoing war between the U.S. and Iran.

A May 29 article by Investing.com discussed how these tensions are affecting the metals markets, saying, "In the current environment, investors are increasingly worried that higher oil and energy costs linked to the Middle East crisis could fuel broader inflation pressures, forcing the Federal Reserve to maintain restrictive monetary policy." Often immune to stock fluctuations due to its critical usage needs, renewed suspicion of U.S. tariffs on China's copper exports has also caused the rates to drop. A strong U.S. dollar, a good employment report, and the 10-year Treasury yield holding strong have also created bad news for spot gold prices.

The gold market opened on June 11, 2026, trading at US$4,063.50 an ounce, down 0.19%, after taking a tumble over the past week.

Gold surged to a record high earlier in the year, hitting a high of US$5,000 per ounce in January, and many expect the rally to resume once international conflict cools down. In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

With its role in industrial applications and inability to be easily replicated, copper is becoming a more and more important resource as more countries become developed. Mines take a long time to come into effect, though, and despite the near doubling of copper prices over the past two years, supply is lacking.

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Expert Says Company 'Hit a Sweet Spot'

On June 9, 2026, Oscar Norris of Hannam & Partners gave Arras a price target of CA$1.80, projecting a 114% upside from current rates.

Norris wrote, "Once the outstanding assay results from Berezski North are received and interpreted, we expect Arras to determine follow-up drill targets to test extensions along strike and at depth."

Chen Lin of What is Chen Buying? What is Chen Selling? wrote about the company on June 10, 2026, saying: "ARK.v hit a big hole, 936 meters of 0.71% copper equivalent from the surface! This is the project that I have been to twice, and it looks like they really hit a sweet spot. The stock has been in consolidation for a long time, and I am glad it started to break out, even in times of market corrections." 

Four Rigs Drilling

According to the company, four diamond drill rigs are now operating at Elemes. Two rigs are currently located at the Berezski Central Target, one rig is exploring the Novii Target, and the fourth rig is drilling at K-Ozek.

Since June of last year, Arras Minerals has been advancing its 20,000-meter Phase 2 diamond drill program at the Elemes Project. Drilling was paused in late December for a scheduled winter break and recommenced in February. Nearly 10,000 meters were completed in 2025, and the strength of the results has prompted Arras to plan an expansion of the program to 30,000m, with completion targeted by the end of 2026.

Ownership & Share Information¹

Arras Minerals Corp has a market cap of CA$133.32 million, with 122.31 million shares outstanding. The company's 52-week range is CA$0.53-CA$1.30.

Institutions own 23.66% of shares, while Management & Insiders own 5.26%. The remaining 71.08% of shares are held by Retail.