Vancouver, British Columbia--(Newsfile Corp. - October 5, 2026) - Graphano Energy Ltd. (TSXV: GEL) (FSE: 97G0) ("Graphano" or the "Company") is pleased to announce the completion of the prospecting phase of its exploration program at the Black Jack graphite discovery, located approximately one kilometre northwest of the Company's Black Pearl graphite discovery in Québec. Samples collected during the program have been submitted to the laboratory for analysis, with results expected within the next two to four weeks. The Company has also submitted an application for an additional exploration permit to expand the exploration area to the west and will conduct additional ground geophysics to potentially expand the prospecting area. In addition, the Company announces a non-brokered private placement of up to 12,000,000 units for gross proceeds of up to $900,000.

Black Jack Exploration Update

As announced on September 23, 2026, a field crew led by St Pierre Exploration was mobilized to Black Jack to carry out the Company's fall exploration program under the exploration permits received from Québec's Ministère des Ressources naturelles et des Forêts ("MRNF"). The crew has now completed the prospecting phase of the program, and all samples collected have been shipped to the laboratory for graphitic carbon analysis. The Company expects to receive results within the next two to four weeks and will release them once all data has been received and reviewed.

Black Jack was identified during the Company's spring 2026 prospecting program. As previously reported on June 4, 2026, 28 grab samples collected from the exposed graphite-bearing horizon at Black Jack returned graphitic carbon values ranging from 12.0% Cg to 26.5% Cg, with an average grade of 19.8% Cg. Grab samples are selective by nature and are not necessarily representative of the average grade of the mineralized zone.

Additional Permit Application and Ground Geophysics

Building on the work completed to date, the Company has submitted an application to the MRNF for an additional authorization for exploration work (autorisation de travaux à impact, or "ATI") to expand the exploration area at Black Jack towards the west.

The Company will also conduct additional ground geophysical surveys to refine the conductive targets associated with the Black Jack graphite horizon and to potentially expand the prospecting area.

Dr. Luisa Moreno, Chief Executive Officer of Graphano, commented: "Completing the prospecting phase at Black Jack is another step forward in advancing this discovery. With samples now at the laboratory, a new permit application to extend the exploration area to the west, and additional ground geophysics planned, we are building a clearer picture of the potential of the Black Jack and Black Pearl trends. The private placement will provide the funding to carry this work forward."

Private Placement

The Company is offering (the "Offering") up to 12,000,000 units (each, a "Unit") at a price of $0.075 per Unit for gross proceeds of up to $900,000. Each Unit will consist of one (1) common share of the Company (each, a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company (each, a "Warrant Share") at a price of $0.12 for a period of thirty-six (36) months from the date the Warrants are issued.

The Company intends to use the net proceeds of the Offering for exploration at Black Jack and Black Pearl, including ground geophysics and drilling, and for general working capital purposes.

The Company may pay finder's fees to eligible finders in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the "TSXV"). Completion of the Offering is subject to receipt of all necessary regulatory approvals, including the acceptance of the TSXV. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.

Qualified Person

The scientific and technical content disclosed in this news release has been reviewed and approved by Roger Dahn, B.Sc., P.Geo., a director of the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Dahn is not independent of the Company.

About Graphano Energy

Graphano Energy Ltd. is an exploration and development company 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 Québec, 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.

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, 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 timing and results of pending laboratory analysis, the pending ATI application and receipt of approval thereof, planned ground geophysics and drilling, completion of the Offering, the anticipated proceeds of the Offering and use thereof, and receipt of TSXV acceptance. 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, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. These risks, as well as others, are disclosed within the Company's filing on SEDAR+ at www.sedarplus.ca, the Canadian Securities Administrators' national system that all market participants use for filings and disclosure, which investors are encouraged to review prior to any transaction involving the securities of the Company. 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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Source: Graphano Energy Ltd.