Vancouver, British Columbia--(Newsfile Corp. - June 4, 2024) - Graphano Energy Ltd. (TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0) ("Graphano" or the "Company") is pleased to announce the start of the spring/summer exploration program on its 100% owned graphite properties in Quebec.

Luisa Moreno, Chief Executive Officer of the Company, commented: "We are excited to begin our spring-summer 2024 exploration program. In the upcoming four weeks, we will concentrate on prospecting followed by trenching and stripping of areas with graphite outcrops to uncover new potential drilling targets. This exploration work will focus on the new claims and the Lac Aux Bouleaux zones that have not been previously explored. This prospecting effort is crucial for our ongoing exploration strategy."

The program, which commenced in mid-April, targets the newly staked claims situated immediately east of the Standard Mine and covering 3,923 hectares. Government reconnaissance in 1997 discovered four outcrops with visible graphite in this area, offering promising starting points for the Company's exploration. The new claims cover highly prospective geology located between Graphano's Standard Mine project and the Mousseau graphite deposit to the east. Additionally, Graphano will explore some of the remaining Lac Aux Bouleaux property zones, specifically Zones 5, 2 and 6, which have not been extensively examined.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Luisa Moreno
Chief Executive Officer and Director
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, relating to future operations, including exploration, drilling and other activities of Graphano, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, exploration work on the newly staked claims east of the Standard Mine and the Lac Aux Bouleaux property zones that have not been previously extensively examined. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Graphano, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Graphano does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.