Dr. Luisa Moreno reports

GRAPHANO ANNOUNCES SECOND EXTENSION OF WARRANT EXPIRY DATE

Graphano Energy Ltd. intends to extend the expiry date of an aggregate of 12,607,317 common share purchase warrants by an additional 12 months to Aug. 27, 2026.

The warrants were originally issued pursuant to private placements of subscription receipts that closed on Dec. 22, 2020, and April 19, 2021. The subscription receipts converted into common shares and warrants upon the listing of the company's shares on the TSX Venture Exchange on Aug. 21, 2021. The warrants were initially set to expire on Aug. 27, 2023, and were previously extended for two years to Aug. 27, 2025, with TSX Venture Exchange approval, as announced in the company's news release dated April 5, 2023.

Each warrant entitles the holder to acquire one share at an exercise price of 52 cents per share. Insiders of the company hold an aggregate of 2,433,844 of the warrants.

This second and final extension will bring the warrants to the maximum five-year term permitted under TSX-V policies. All other terms of the warrants, including the exercise price, remain unchanged. The warrant extension is subject to the approval of the TSX-V.

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.

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, 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 projects to meet the demands of the future.

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