Vancouver - Graphano Energy Ltd. (TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0) ('Graphano' or the 'Company') is pleased to announce 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.

Luisa Moreno, Chief Executive Officer of the Company, stated: 'We are very encouraged with the drill results from the Phase 1 drill program at LAB and the indicated resource potential in the 'historical resource area' outlined by Orrwell Energy in the 1980s. Additional work will continue on the property and we are confident in proving up graphite resources to position Graphano as a potential near term producer.'

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 of Graphano's recent hole and the previous drilling by Graphite Energy and Orrwell Energy are provided below.

About Graphano Energy Ltd.

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, 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.

Contact:

Luisa Moreno

Email: info@graphano.com

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 - 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, the Company's exploration plans and the impact thereof. 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 given the global COVID-19 pandemic, 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.

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