Mr. Luisa Moreno reports

GRAPHANO SUCCESSFUL AT ZONE 3 - REPORTS 13.8 METRES GRADING 6.3% CG AT THE LAB GRAPHITE PROJECT

Graphano Energy Ltd. has released initial assay results from the 2023 to 2024 winter drilling program on Zone 3 at its 100-per-cent-owned Lac Aux Bouleaux graphite (LAB) property in Quebec.

Zone 3, discovered by Graphano in 2022 (see news release dated February 8, 2023), represents a highly prospective mineralized trend defined by surface trenching and drilling over an approximate strike length of 500 metres. The primary focus of the drilling program was on graphite zone expansion to enlarge the "footprint" of mineralization in support of the Company's ongoing Mineral Resource estimation work at both the LAB and the Standard Mine projects. The mineralization remains open in both the strike and dip directions for continued expansion.

Luisa Moreno, Chief Executive Officer of the Company, stated: "We are pleased with the results from Zone 3, which confirm the promising findings obtained through our surface exploration efforts. The high-grade intersections and the continuity of mineralization underscore the significant potential for expansion and reinforce our confidence in the project's prospects."

Key Highlights (See Full Results in Table 1)

Current Holes

Drill Hole LAB23-62 intersected 6.33% graphitic carbon (Cg) over 13.82 metres (m) starting at 38.23m drilled depth; and

Drill Hole LAB24-64 intersected 5.75% Cg over 14.42m at 53.58m drilled depth, including 7.64% Cg over 7.64m at 53.58m.

Previous Holes

Drill Hole LB22-33 intersected 6.26% graphitic carbon (Cg) over 13.7m starting at 14.0m drilled depth, including 11.95% Cg over 4.7m at 14m drilled depth;

Drill Hole LB22-45 intersected 9.09% Cg over 8.0m at 68m drilled depth; and

Drill Hole LB22-52 intersected 7.17% Cg over 9.0m at 36m drilled depth.

(Note: All intersections reported are based on drilled width; true widths will be determined with additional drilling programs.)

The five drillholes totaling 356 metres reported in this update were drilled as step-outs to extend mineralization and to confirm structural interpretations of Zone 3. Mineralization is interpreted to occur within a near surface, synformal fold structure trending to the northeast. The drilling suggests the multiple graphite horizons are locally folded and structurally thickened which can enhance the potential for economic extraction.

Holes LB23-60, 61 and 63 were drilled to evaluate the northern limb of the fold structure and holes LB23-62 and 64 the southern limb. All holes intersected significant graphite mineralization. The mineralization remains open in both the strike and dip directions for continued expansion. Full assay results from the five holes are presented in Table 1 and drill hole locations in Figure 2. Further assay results are expected to be released from the LAB Zone 3 drilling in the coming weeks.

Select samples from the 13 holes drilled from LAB were submitted for assay analysis. A total of 1,034m were drilled during the program. All drill core samples were sampled, stored and shipped using industry best practices and were delivered to Activation Laboratories ("Actlabs"), Ancaster, Ontario, for sample preparation and analyses using laboratories' Code 4F-C Graphitic, analyzing C-Graphite (infrared) where the sample is subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon; and C-Total (infrared). Actlabs is an independent commercial, accredited ISO Certified Laboratory. The core sample program also included field duplicates, blanks and a graphite standard sample for quality assurance and quality control (QA/QC) purposes.

Qualified Person

This news release has been reviewed and approved by Roger Dahn, B.Sc., P.Geo., a director of the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Matthew Harrington, P.Geo., of Mercator Geological Services Ltd. is an "Independent Qualified Person" as defined under NI 43-101 and confirms he has reviewed and approved the scientific and technical information disclosed in this news release.

About Graphano Energy

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

Graphite is one of the most in-demand technology minerals that is required for a green and sustainable world. The Company's Lac Aux Bouleaux Property, situated adjacent to Canada's only producing graphite mine, in Quebec, Canada, Northern Graphite Corporation's Lac des Iles Mine, has historically been an active area for natural graphite. With the demand for graphite growing in some of the most prominent and cutting-edge industries, such as lithium batteries in electric cars and other energy storage technologies, the Company is developing its project to meet the demands of the future.

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