Graphano Energy Commences Strategic Fall 2023 Drilling Initiative to Strengthen North American Graphite Supply
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Graphano Energy Commences Strategic Fall 2023 Drilling Initiative
to Strengthen North American Graphite Supply
Vancouver, BC, November 23, 2023, Graphano Energy Ltd. (the “Company” or “Graphano”) (TSX-
V:GEL; OTCQB:GELEF; FSE:97G0) is pleased to announce that drilling activity is starting on its 100%
owned Standard Mine and Lac Aux Bouleaux (LAB) Graphite Properties in Quebec. Forage Hebert Inc. of
Amos, Quebec , has been awarded the drilling contract. In addition, Mercator Geological Services is
responsible for the drill program design and St-Pierre Exploration Enr. for the field logistics of the program.
Luisa Moreno, C hief Executive Officer of Graphano , emphasized the critical nature of the drilling
endeavors: “In light of China’s recent graphite export restrictions, there is an urgent imperative for us to
propel our projects into production, thereby fortifying international markets against the imminent surge in
demand driven by electric vehicles. Backed by a robust production history and strategically advantageous
project locations, we confidently assert ourselves as the most immediate source of graphite in North
America. Despite the challenges posed by the sluggish junior mining equity markets, we are committed to
advance the Standard and LAB properties. Our objective is clear: to conduct drilling, support resource
estimation, and embark on additional exploratory efforts to unlock the full potential of resource expansion.”
The Company plans to complete approximately 25 holes totaling up to 3,000 metres prior to year end. The
drilling program will start at the Standard Mine Property, where the primary focus of the planned drilling
is on resource expansion. Previous results at Standard Mine (see Graphano news releases dated February
23, 2023, and June 14, 2023) included:
• Trench TR23-25, returned 8.91% graphitic carbon (Cg) over 23m, including 12.09% Cg over 14
metres (m) and a second zone assaying 10.87% Cg over 6m;
• Drill Hole ST23-10 intersected 5.11% graphitic carbon (Cg) over 20.5 m starting at 39.0m drilled
depth, including 6.7% Cg over 9.0m at 41m;
• Drill Hole ST23-11 intersected 7.44% Cg over 13.0m at 31m;
• Drill Hole ST23-13 intersected 8.99% Cg over 11.3m at 4.2m, and 7.65% Cg over 13m at 56m;
and
• Drill Hole ST23-05 intersected 5.79% Cg over 14.0m at 4.6m.
(Note: All intersections reported are based on drilled width and have not been converted to the true width.)
At LAB, the focus will be on Zone 3, the historical pit area and, if time permits, Zone 1. Recent drilling at
Zone 3 intersected significant graphite mineralization (see Graphano news release dated February 8, 2023),
including:
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• Drill hole LB22-33 intersected 6.26% Cg over 13.7m starting at 14.0m drilled depth, including
11.95% Cg over 4.7m at 14m;
• Drill hole LB22-45 intersected 9.09% Cg over 8.0m at 68m; and
• Drill hole LB22-52 intersected 7.17% Cg over 9.0m at 36m.
(Note: All intersections reported are based on drilled width and have not been converted to the true width.)
These zones are just two of the eight prospective targets which have been defined on the LAP Property to
date through the Company’s surface trenching and sampling programs completed during 2021 and 2022,
as well as historical exploration data.
Drilling will also be performed at the historical pit area, where the Company will be drilling confirmatory
holes to validate the current resource modeling work and to test for expansion of the deposit.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Mr. Martin Ethier, Géo
(#1520) who is a Member of the Order of Geologists of Québec and a “Qualified Person” under NI 43-101,
and 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 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
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
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or be achieved. Forward-looking statements in this news release relate to, among other things, drilling at
the Company’s Standard Mine Property and Lac Aux Bouleaux Graphite Property and results thereof,
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 im plied 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 may not be able to secure permitting and other govern mental 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.