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| Every now and then a story comes along where the facts are so clear, and the valuation so disconnected from them, that the only question is why more people aren’t paying attention.
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| That’s exactly where Arras Minerals Corp. (ARK.V; ARRKF.OTC) sits today.
Four diamond drill rigs are turning around the clock on the junior’s massive property position.
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| On just one property, no less than three separate porphyry centers have been confirmed along a single mineralized trend so far — and the company is just getting started on understanding what it has.
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| Even one porphyry would hold the potential to multiply the company’s market value. And with the drilling program now in effect, that potential could be realized in the days just ahead.
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| The Jurisdiction Everyone Underestimates...
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| Arras’ properties are in Kazakhstan. This is where most Western investors stop reading — and where the real opportunity begins.
You see, Kazakhstan is not a frontier jurisdiction.
It is the world’s top uranium producer, second-largest chromite producer and fifth-largest refined copper exporter.
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| Its flagship copper mine — located on the same regional belt as Arras’ project — is now spinning out $717 million in EBITDA each year, at net cash costs of just $0.95 per pound.
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| That makes it one of the lowest-cost copper operations on the planet.
The reasons aren’t complicated.
Core drilling runs roughly $110 per meter. Diesel is $0.48 per liter. Power costs 2.5 cents per kilowatt-hour.
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| Four of the world’s five lowest-cost copper mines are located in Kazakhstan.
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| The terrain is flat — no mountains, no glaciers, no permitting nightmares tied to elevation or snowpack.
And Kazakhstan reformed its mining code in 2018, explicitly modeling it on Western Australian law — one of the most investor-friendly frameworks in the world.
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| This combination of world-class geology, rock-bottom costs and a recognizable legal structure is exceptionally rare. It exists in virtually no other jurisdiction at this scale.
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| Giant companies have figured this out.
Chevron completed a $46 billion expansion of their operations in Kazakhstan four years ago, and major European and North American miners have followed, one after another.
Western capital doesn’t flow at that scale into places where it doesn’t feel welcome. And yet most junior mining investors still haven’t looked.
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| The Early Bird Gets The Land
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| Arras entered Kazakhstan in 2020 as the first North American copper-focused junior to arrive under the new mining law.
Management reviewed Soviet-era geological records, identified the most prospective ground in the country and assembled what is now the third-largest copper-focused land package in Kazakhstan: Fully 3,300 square kilometers.
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| That kind of first-mover positioning is irreplaceable. You can’t buy it once the crowd arrives.
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| And the crowd is arriving.
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| Click image to enlarge
Arras was one of the first movers in Kazakhstan, and major mining companies and governments are following suit.
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| Teck Resources made a strategic investment directly into Arras in 2022 and funded a $5 million generative exploration program across an earlier stage component of Arras’ broader land package with Arras focusing on some of the more advanced licenses, such as the Elemes Project.
Ivanhoe, B2Gold, Zijin, First Quantum, Barrick, Endeavour Mining and BHP’s Xplor program have all established footholds in the country since then.
What Arras recognized early, the world’s biggest miners are now confirming.
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| A District-Scale System Taking Shape
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| Arras’ Elemes Project — 531 square kilometers within the Bozshakol-Chingiz metallogenic belt — is where the story is being written right now.
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| Arras’ Elemes project contains two trends that will be the primary targets of its 2026 drilling campaign.
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| Property-wide soil sampling identified two large copper anomalies: the Berezski Trend and the Aimandai Trend.
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| Drilling on the Berezski Trend over the past 18 months has confirmed three separate porphyry centers, each with near-surface, broad-interval copper-gold mineralization.
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| Berezski Central now measures approximately 750 by 500 meters and remains open in all directions.
Berezski North has returned some of the best intercepts on the property, including 547 meters of 0.73% copper-equivalent from just 14 meters of depth.
In its last reported drilling at Berezski North, the company reported that “Hole EL25027...intersected porphyry-style mineralization and alteration, consisting of zones of sheeted veining with chalcopyrite and bornite mineralization associated with widespread potassic alteration at approximately 460 meters depth. This suggests that the hole has intersected the edge of the high-temperature core of a porphyry system.”
Follow-up drilling here should be reported soon...and will be very interesting to see!
Then there’s Berezski East: the newest porphyry center confirmed in April of this year.
Just five holes have been completed there. The most recent one drilled in April 2026 returned 424 meters grading 0.50 g/t gold and 0.12% copper from 9 meters depth, including a high-grade interval of 115.7 meters grading 1.44 g/t gold and 0.24% copper starting at 317 meters.
Below a fault zone intersected at that depth, alteration, brecciation and copper-sulphide veining all increased sharply.
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| Geologists familiar with porphyry systems recognize what that means: The drill is getting closer to the core of the system.
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| The target extends at least several hundred meters along strike. Only a fraction of that has been tested. It is open in both directions and at depth.
And that’s just three of the confirmed centers...on one of two major trends...on one project...out of a 3,300-square-kilometer land package.
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| This Is The Year Everything Accelerates
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| Simply put, the past two years saw Arras getting ready to fly. Now it’s starting to clear the launch pad.
Consider that four diamond rigs are now running at Elemes — double last year’s capacity — with at least 20,000 meters of drilling planned for this year. Kazakhstan permits year-round drilling with no seasonal shutdowns.
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| That means a continuous cadence of results over the weeks and months ahead, as the company works to define the geometry of what it has and begin transitioning from exploration company to a company with defined deposits that will establish its market value.
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| A 6,000-meter top-of-bedrock KGK drilling program launched in May 2026 is systematically evaluating both the approximately 10-kilometer Berezski Trend and the core of the 14-kilometer Aimandai anomaly — the second major trend that has barely been touched.
Those results will prioritize the next round of diamond drill targets.
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| On top of that, the Bozshakol Group — a separate 54-kilometer trend running parallel to a producing copper-gold mine — has already yielded three new porphyry discoveries from the Teck-funded program. Follow-up work is planned there for 2026.
The Akkuduk Group adds a 35-square-kilometer hydrothermal system and a potential nickel-sulphide target defined by a 14-kilometer soil anomaly.
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| Most juniors would build a company around any one of these targets.
Arras has a dozen of them.
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| Still Under The Radar
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| With roughly C$10 million in cash, Arras is fully funded through year-end. The share structure is clean — 122 million shares out, no warrants.
And following the conclusion of the Teck generative program, 100% of the full 3,300-square-kilometer land package reverted to Arras outright in Q1 2026.
No partner dilution, no ongoing obligations.
Institutional holders include Teck and Sprott, among others.
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| Why are such smart players flocking to Arras?
Because projects of comparable scale and grade in British Columbia or the Andes routinely trade at multiples of this company’s current valuation.
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| The discount exists because most investors haven’t looked at Kazakhstan yet. That’s changing rapidly — and the window to own Arras before it fully changes is open right now.
Three porphyry centers confirmed. Four drills running. An entire trend still to be tested.
The time to look into Arras Minerals is now.
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| CLICK HERE
To Learn More About Arras Minerals Corp.
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