Graphano Energy Provides Update on Ongoing Phase-2 Exploration Work

Vancouver, British Columbia--(Newsfile Corp. - November 17, 2021) - Graphano Energy Ltd. (TSXV: GEL) (FSE: 97G0) (the "Company" or "Graphano Energy") is pleased to issue an update on the Phase-2 exploration activities at its 100% owned Lac Aux Bouleaux Graphite (LAB) Property (the "Property").

Exploration Work Highlights:

• The Company has been active in the field performing ground geophysics, trenching and channel sampling, which resulted in several new graphite showings being identified in the eastern and southern areas of the Property.

• In the eastern zone of the Property, excavation work guided by ground geophysical survey has exposed additional graphite mineralization and rock outcrops in the areas near LAB-4 and LAB-3 (See Figure 1). The graphite mineralization on GRID-1 occurs along the 1.3 kilometres of conductive trends outlined by the ground geophysical surveys.

Figure 1 - Compilation of Airborne & Ground Geophysical Conductors with Phase 2 Graphite Showings

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8293/103895_67139e00e4354b3d_002full.jpg

• In the southern zone of the Property, trenching work exposed a large graphite zone with apparent large graphite flakes (GRID-4). This mineralization is also related to a well-defined conductive zone interpreted to have an average anomaly width of 30 metres.

• Approximately 190 samples were sent to the laboratory for assaying. Thus far, assay results of about 50 samples have been received and are in the range of 0.34% to 23.5% graphitic carbon (Cg) with 19 samples over 10% Cg, 12 samples between 5% and 10% Cg, and the remaining samples with values below 5% Cg.

Luisa Moreno, Chief Executive Officer of Graphano Energy, commented, "We are pleased that the ongoing prospecting work at our LAB property has led to new graphite showings and potential drilling targets. Once the assay results are completed, we will be able to disclose our drilling program and resource estimation plans."

The samples are a mix of grab and channel samples. Each channel sample from this work represents 50cm long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario, for sample preparation and analyses using ACTLABS' 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.

Afzaal Pirzada, P.Geo., a consultant to the Company and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

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 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, Graphano Energy is developing its project to meet the demands of the future.

ON BEHALF OF THE BOARD OF DIRECTORS

Luisa Moreno
CEO and Director
E: info@graphano.com

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 "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate, and the reader is cautioned not to place undue reliance on such forward-looking information.

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