Vancouver, British Columbia–(Newsfile Corp. – May 19, 2026) – Graphano Energy Ltd. (TSXV: GEL) (FSE: 97G0) (“Graphano” or the “Company“) is pleased to announce the completion of its spring prospecting program evaluating a series of recently identified airborne geophysical conductive zones located approximately one kilometre northwest of the Company’s Black Pearl graphite showing in Québec. The program resulted in the identification of a new graphite discovery, which the Company has named Black Jack.

Dr. Luisa Moreno, Chief Executive Officer of Graphano, commented: “Black Jack is an exciting new discovery for Graphano. The field team has exposed a sizeable graphite-bearing horizon northwest of Black Pearl, further supporting our view that this area hosts multiple near-surface graphite occurrences with potential for additional discoveries. The identification of Black Jack, together with ongoing work at Black Pearl, strengthens the exploration potential of this emerging graphite trend. We look forward to completing the necessary permitting required for a stripping, mapping, and ground geophysical program of the area to better understand the grade, thickness, continuity, and overall scale of this new discovery.”

Initial field work exposed a graphite-bearing horizon at the new Black Jack showing measuring approximately 110 metres long by up to 15 metres wide. Nineteen grab samples of this mineralization zone were collected by Graphano’s field team. The mineralized zone appears to extend beyond the Company’s current ATI permit block, and stripping with systematic channel assay sampling is planned once the appropriate ATI permit coverage is obtained.

Following the work at Black Jack, the field team continued prospecting and excavation work at Black Pearl, with the objective of extending the known graphite horizons. Mapping and sampling of the exposed graphite zones at both Black Jack and Black Pearl is planned as the next step, with results to be reported once received and reviewed.

The discovery of Black Jack adds a new prospective target to Graphano’s exploration pipeline and supports the Company’s broader strategy of advancing near-surface graphite mineralization through systematic prospecting, stripping, sampling, geological mapping, and follow-up exploration.

Next Steps

Graphano plans to undertake the following work:

• expand mapping and sampling of the exposed graphite zones at Black Jack and Black Pearl;
• apply for and obtain the required ATI permit coverage for additional stripping at the newly discovered areas;
• conduct mechanical stripping to fully expose the Black Jack graphite horizons along strike and across width;
• complete geological mapping and channel sampling, where appropriate; and
• evaluate Black Jack as part of the broader Black Pearl graphite trend.

Qualified Person

The scientific and technical content disclosed in this press 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.

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, situated adjacent to Canada’s only producing graphite mine, 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, the Company is developing its projects to meet the demands of the future.

ON BEHALF OF THE BOARD OF DIRECTORS

Luisa Moreno
Chief Executive Officer and Director
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Neither the 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, statements regarding the intended use of proceeds, anticipated exploration activities including airborne surveys and bulk sample permit filings, and the receipt of final approval from the TSX Venture Exchange. 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 related to exploration activities, results of exploration programs, commodity prices, market conditions, the availability of financing, and general economic, business and regulatory risks, the risk that the Company may not receive all necessary regulatory approvals, including TSX Venture Exchange acceptance, and that the use of proceeds of the Private Placement may differ from those stated. These risks, as well as others, are disclosed within the Company’s filings 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.