Graphano Announces Completion of Winter Drilling Program
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Graphano Announces Completion of Winter Drilling Program
Vancouver, BC, January 22, 2024, Graphano Energy Ltd. (the “Company” or “Graphano”) (TSX-V:
GEL; OTCQB:GELEF; FSE:97G0) is pleased to announce that the recent drilling program on its 100%
owned Standard and Lac Aux Bouleaux (LAB) Graphite Properties in Quebec has been completed.
Luisa Moreno, C hief Executive Officer of Graphano , commented: “ We are pleased with th e drilling
campaign and anticipate positive results based on the assessment of the graphite mineralization that w as
intersected in the majority of the drill holes. We will release the assay results as they become available in
the coming weeks.”
The Company completed 30 drill holes totaling 3,025 metres during the recent program. At the Standard
Mine 17 holes were drilled for a total of 1,991 metres and 13 holes were completed at LAB totalling 1,034
metres.
The Company intends to develop both sites at the same time to feed a centralize d beneficiation plant at
LAB and is working towards a preliminary mineral resource estimation with Mercator Geological Services.
Discussing the graphite sector, Luisa Moreno commented: “The graphite market is witnessing a significant
opportunity driven by increasing demand for lithium-ion batteries in electric vehicles. Tightening markets
have emerged due to China's renewed incentives for domestic electric vehicle sales and concerns have
escalated as China has imposed controls on specific graphite exports crucial for battery production.
Additionally, the U.S. government's guidance that it will limit Chinese content in batteries eligible for
electric vehicle tax credits contributes to the evolving landscape and further potential opportunities for
North American graphite suppliers.”
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 a ctive 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Luisa Moreno
Chief Executive Officer and Director
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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”, “poss ible”, 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 results
of drilling at the Company’s Standard Mine Property and Lac Aux Bouleaux Graphite Property , further
development of such properties, potential future production by Graphano, and the resource requirements
of the electric vehicle sector. 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 ach ievements 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 ma y 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, projecti ons, or other factors,
should they change, except as required by applicable securities laws.