Graphano Energy Ltd. reported further assay results from the 2023-24 winter drilling program at its 100% owned Standard Mine Project ("Standard"). The primary focus of the drilling
program was on graphite zone expansion, following up on the excellent results from the 2022-23 trenching and drilling programs. Key Highlights from the Western Graphite Trend: Current Holes - Drill Hole ST23-21 intersected 15.57% graphitic carbon (Cg) over 15.04 metres (m) starting at 68.79 m drilled depth; and Drill Hole ST23-19 intersected 6.28% Cg over 5.23m at 25.75m drill depth, and 5.57% Cg over 4.14m at 40.43m drill depth and 4.89% over 5.26m at 52.47m drill depth. Previous Holes - Drill Hole ST23-13 intersected 8.99% Cg over 11.3 m starting at 4.2 m drilled depth, and 7.65% Cg over 13.0 m at 56 m drill depth; and Drill Hole ST23-05 intersected 5.79% Cg over 14.4 m at 4.6 m drill depth. The seven drill holes reported in this update were drilled as step-outs to extend the mineralization on the Western Trend. Drilling to date has encountered significant graphite mineralization over an approximate strike length of 350m and mineralization remains open in both the strike and dip directions for continued expansion. In addition, Drill Hole ST23-22 intersected a new area of near surface mineralization grading 7.34% Cg over 3.03m at a drilled depth of 8.92m and warrants further exploration.