Graphano Energy Ltd. announced that it will start the Phase 1 drilling at its 100% owned Lac Aux Bouleaux Graphite Property. In 2021, the Company completed an initial phase of stripping and trenching on two of seven target areas identified on the Property. Significant channel sampling results have been returned from both the Zone 1 and Zone 4 targets.

Zone 4 is a new discovery which has seen no previous exploration work in the past. Prospecting work also located high grade graphite mineralization in the Target 6 area with grab samples assaying 12.9% C-Graph over 0.5 metres. The Target 6 area is also a new discovery with no history of previous exploration.

It is important to note that the channel sample results are in most cases minimum thicknesses since the mineralization remains open for expansion. Zone 4 (New Discovery): The high-grade graphite mineralization discovered correlates with multiple conductive zones having a combined strike length of over 750 metres. The ground geophysical survey indicates structural thickening by folding with maximum anomaly thicknesses to 90 metres.

Channel sample results from Zone 4 include 18.0% C-Graph over 4.0 metres and 5.8% C-Graph over 8.0 metres which includes 14.8% over 3.0 metres. Zone 1: Similar to Zone 4, the graphite mineralization correlates with two distinct conductive zones having a combined strike length of over 1.4 kilometres. The ground geophysical survey indicates anomaly thicknesses to 50 metres.

Channel sample results include 7.9% C-Graph over 9.5 metres including 13.9% over 4.5 metres, 7.5% C Graph over 3.5 metres and 3.9% C-Graph over 8.0 metres with 6.8% over 4.0 metres. The Company plans to commence a first phase diamond drill program in approximately three weeks to evaluate the magnitude of graphite mineralization in the Zone 1 and 4 areas. Further prospecting, trenching and geological surveys will assess and advance to drill stage the other target areas (Zones 2, 3, 5, 6 and 7) identified thus far on the Property in April/May.

A total 295 samples were collected during the 2021 program from grab and trench sampling. The sample assays are in the range of less than 0.05% to 23.5% graphitic carbon (C-Graph), with about 30% with grade higher than 5% C Graph. Each channel sample from the trenching work ranged from a minimum of 50 cm to a maximum of 100 cm 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 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.