Graphano Energy Ltd. announced results from the last hole of its Phase 1 drill program on its 100% owned Lac Aux Bouleaux graphite property ("LAB" or the "LAB Property") in
Quebec. The LAB Property is located contiguous to the Lac-des-Iles graphite mine and covers the immediate southern extension of the productive graphite horizons. Drill hole LB22-30 totaling 141.0 metres intersected 6.34% graphitic carbon (Cg) over 11.0 metres at the edge of the historical resource area established during Orrwell Energy Corp.'s exploration work between 1981 and 1983. Orrwell Energy completed 79 diamond drill holes totalling 19,550 feet (5,958 metres) and resource estimation work. In 2018, Graphite Energy Corp. completed four drill holes also in this area. Highlights: Graphano 2022: Drill Hole LB22-30 intersected 6.34% graphitic carbon (Cg) over 11 metres at 106 metre (m) drilled depth including 9.15% Cg over 4.0 m. Graphite Energy 2018: Drill Hole LAB18-02 intersected 8.45% Cg over 6.0 m at 28.3 m drilled depth, Drill Hole LAB18-03 intersected 9.26% Cg over 6.77 m at 80.13 m drilled depth, Drill Hole LAB18-04 intersected 7.14% Cg over 9.33 m at 97.57 m drilled depth; Orrwell Energy 1981 - 82: Drill Hole 82-25 intersected 11.67% Cg over 14.66 m at 23.56 m drilled depth, Drill Hole 82-41 intersected 7.97% Cg over 18.78 m at 9.57 m drilled depth, Drill Hole 82-55 intersected 10.58% Cg over 11.88 m at 3.66 m drilled depth, Drill Hole 82-70 intersected 13.76% Cg over 9.76 m at 16.76 m drilled depth. The resource estimation work completed by Orrwell Energy Corp. in 1982 resulted in a historical resource of 1,320,847 tons at 9% Cg, or 1,452,932 tons at 8% Cg. The graphite mineralization observed during drilling is hosted within a sequence of paragneiss and recrystallized limestone units. All drill core samples were bagged and tagged using 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) in which 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 samples also include field duplicates and blanks for quality control and quality assurance (QA/QC) purposes.