Dr. Luisa Moreno reports

GRAPHANO ENGAGES SGS CANADA FOR METALLURGICAL TESTING

Graphano Energy Ltd. has engaged SGS Canada Inc. of Quebec City, Que., to carry out metallurgical testing.

Sample materials will be collected from drill core obtained from several zones at the company's Lac Aux Bouleaux (LAB) project and Standard historical mine project. Samples from each zone will be tested separately and a master composite that mimics a potential mill feed will also be tested. This metallurgical program is the first phase in the development of a flowsheet for the production of graphite anode material for batteries that are used in electric vehicles and other industrial applications. Results will be used in the preliminary economic assessment planned for 2024.

SGS is a recognized world leader in graphite processing and analysis and will evaluate the graphite and produce concentrate grading more than 93 per cent Cg, as required for industrial applications. The production of a high-graphite-grade floatation concentrate is essential for the development of a metallurgical process for the production of advanced graphite materials such as graphene and anode-grade graphite.

"The development of a metallurgical flowsheet is essential for the establishment of economic production from our multiple deposits. We look forward to entering this phase of the project development that is an essential step for economic assessment. In addition to the fast-growing demand for graphite in EV applications, there are many industrial uses for graphite that will offer other commercial opportunities for the company. It is therefore critical for Graphano to develop an optimal metallurgical flowsheet," said Dr. Luisa Moreno, president and chief executive officer of Graphano.

Qualified persons

The scientific technical content disclosed in this press release was reviewed and approved by Roger Dahn, BSc, PGeo, director of the company and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, who has provided the technical information in this press release, and by Martin Ethier, Geo (No. 1520), who is a member of the Order of Geologists of Quebec and also a qualified person under NI 43-101.

About Graphano Energy Ltd.

Graphano Energy is an exploration and development company that is focused on evaluating, acquiring and developing energy metals resources from exploration to production.

We seek Safe Harbor.