Key Highlights

• Indicated Mineral Resource: 1,640,000 tonnes at 7.00% graphitic carbon (“Cg“), containing 115,000 tonnes of Cg
• Inferred Mineral Resource: 1,580,000 tonnes at 7.00% Cg, containing 111,000 tonnes of Cg
• High-Grade at Surface: Mineralization near surface with minimal overburden provides immediate access and selective mining potential.
• Strategic Location: Mineral Resources located near major transportation routes with claims adjacent to the Lac-des-Iles processing facility.
• Significant Infill Potential: Mineral Resource Estimate demonstrates potential for expansion between and within existing pit shells across all zones.
• Expansion Opportunities: The Lac-Aux-Bouleaux (“LAB“) property contains six additional mineralization zones identified from geophysics work for future exploration and potential Mineral Resource expansion.
• Next Phase Development: Bulk sampling program to advance metallurgical testing, surface extraction cost analysis, and permitting studies

Vancouver, British Columbia–(Newsfile Corp. – July 17, 2025) – Graphano Energy Ltd. (TSXV: GEL) (FSE: 97G0) (“Graphano” or the “Company“) is pleased to announce an initial Mineral Resource estimate for its 100%-owned graphite properties located in the Lac Saguay region in Québec, Canada. The Mineral Resource is reported at 3.00% Cg cut-off within an optimized pit shell and highlights the project’s tonnage and grade across multiple zones.

The Lac Saguay Graphite Project Mineral Resource incorporates the LAB property, including the Pit Zone, Zone 1, and Zone 3, as well as the Standard property, which has been a primary focus of recent exploration efforts.

Luisa Moreno, CEO of Graphano, stated: “These results underscore the potential of both LAB and Standard to become a significant source of high-grade graphite in North America. The project’s resource profile and grade are compelling and support our strategy to advance toward development.”

Next Steps

Graphano plans to execute a comprehensive development program focused on:

• Infill drilling campaign to upgrade Inferred resources to Indicated and Measured categories
• Bulk sampling program to support expanded metallurgical testing
• Economic evaluation of near-surface material extraction costs
• Environmental baseline studies to support permitting processes to fast-track development

Lac Saguay Graphite Project Mineral Resource Estimate — Effective Date: July 15, 2025

Mineral Resource Notes:
1) Mineral Resources were prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (MRMR) (2014) and CIM MRMR Best Practice Guidelines (2019).
2) Graphitic carbon (Cg %) grade was estimated from 1.5m downhole assay composites using Inverse Distance Squared interpolation. No grade capping was applied.
3) LAB model block size is 5 m (x) by 5 m (y) by 6 m (z) with 4 units of sub-blocking and Standard model block size is 4 m (x) by 4 m (y) by 4 m (z) with 4 units of sub-blocking.
4) Bulk density of 2.80 g/cm3 was applied to all mineralized domains.
5) Mineral Resources are defined within an optimized pit shell with an average slope angle of 45⁰ and an overall strip ratio of 4.73:1 (waste: mineralized material)
6) Parameters used in pit optimization include a long-term average graphite flake concentrate market price of $0.99/lb ($USD1,500/t), an overall metallurgical recovery of 90%, and costs at $4.50/t mining, $30/t processing, $12/t G&A, and $22/t transportation. All prices are CDN unless otherwise specified using an exchange rate of 1.35 CDN:USD.
7) Mineral Resources are reported at a cut-off grade of 3.0% Cg with the optimized pit shell and define reasonable prospects for eventual economic extraction by open pit mining methods.
8) Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
9) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
10) Mineral Resource tonnages are rounded to the nearest 10,000. Contained Cg is rounded to the nearest 1,000.

FIGURE 1: Lac Saguay Graphite Project Mineral Resource

Sample Data

The LAB Mineral Resource is based on 49 drill holes for 3,963m completed by Graphano and 86 drill holes for 6,199m completed by previous operators . The Standard Mineral Resource is based on 35 drill holes for 3,164m completed by Graphano. All drill core samples completed by Graphano were sampled, stored, and shipped using industry best practices and were delivered to Activation Laboratories (“Actlabs“) in 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 except for graphitic carbon; and C-Total (infrared). Actlabs is an independent commercial and ISO Certified Laboratory. The core sample program also included field duplicates, blanks, and a graphite standard sample for quality control and quality assurance (QA/QC) purposes.

Qualified Person

Matthew Harrington, P.Geo., of Mercator Geological Services Ltd., is an “Independent Qualified Person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“) and is responsible for the technical disclosure regarding the Lac Saguay Graphite Project Mineral Resource Estimate contained in this news release.

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 NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

Luisa Moreno
Chief Executive Officer 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 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, relating to future operations, including exploration, drilling and other activities of Graphano, 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, exploration work on the newly staked claims east of the Standard Mine and the Lac Aux Bouleaux property zones that have not been previously extensively examined. 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, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. 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.

SOURCE: Graphano Energy Ltd.