Graphano Energy Ltd. reported that all assay results from the 2022 winter drilling program at the historical Standard Mine Project have been received. Graphano owns a 100% interest in four graphite properties, including the Standard Mine Project and all within trucking distance from the Lac-Aux-Bouleaux (LAB) mine region, to allow for the Company's resource consolidation strategy to feed a centralized processing plant at LAB. The historical resource at LAB, the recently announced Zone 3 discovery at LAB and now the exciting results from the Standard Mine Project re-enforce the economic potential of this consolidation strategy.

The winter drill program at the Standard Mine has intersected very significant graphite mineralization over more than a 500-metre length. The mineralized zones range in thickness from 3 to 20.5 metres with an average thickness of 9.3 metres. The mineralization has been tested from surface to a maximum vertical depth of approximately 60 metres and remains open in all directions for continued expansion.

Key Highlights: Drill Hole ST23-10 intersected 5.11% graphitic carbon (Cg) over 20.5 meters (m) starting at 39.0 m drilled depth, including 6.7% Cg over 9.0 m at 41 m; Drill Hole ST23-11 intersected 7.44% Cg over 13.0 m at 31 m; Drill Hole ST23-13 intersected 8.99% Cg over 11.3 m at 4.2 m, and 7.65% Cg over 13 m at 56 m; Drill Hole ST23-05 intersected 5.79% Cg over 14.0 m at 4.6 m; and Drill Hole ST23-07 intersected 5.5% Cg over 8.5 m at 17 metres. Select samples from the 14 holes drilled at the Standard Mine Project were submitted for assay analysis. A total of 1033 metres were drilled.

Most of the drilled holes were shallow to test the immediate near surface depth and thickness of the graphite mineralization that was exposed during the trenching and channelling program conducted earlier during the 2022 fall program. Highlights of the exposed surface mineralization include 6.21% Cg over 26 metres and 10.32% Cg over 9.5 metres in trenches 18 and 21 respectively. One method of evaluating and visually demonstrating the exploration significance of a drill program and thus the indicated economic potential is to calculate a drill hole's mineralized zone thickness multiplied by the zone's grade.

The last column of the table on Figure 1 shows the thickness times metres values for Standard Mine drill holes. The values greater than 20 (yellow highlight) are significant and those above 50 (red highlight) are very significant. 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) 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 samples also include field duplicates and blanks for quality control and quality assurance (QA/QC) purposes.