BLACK SWAN GRAPHENE ANNOUNCES SHIPMENT FOR INDUSTRIAL PARK CONCRETE POUR

TORONTO, May 8, 2023 /PRNewswire/ - Black Swan Graphene Inc. ("Black Swan") (or the "Company") (TSXV: SWAN) (OTCQB: BSWGF) (Frankfurt: R96) is pleased to announce a shipment of product to Nationwide Engineering Research & Development ("NERD") for an upcoming concrete pour in the United Kingdom. A picture of the shipment is available below.

This commercial shipment follows the announcement of a partnership between Black Swan, NERD, and Arup Group Limited, aimed at providing an integrated supply chain and a turnkey solution to the concrete and construction industries (see press release dated March 27, 2023).

The upcoming concrete pour will use Black Swan's graphene product in a total of 180 tonnes of concrete for the construction of an industrial park near Redruth, Southwest England. The industrial park will offer 14 industrial units ranging from 2,500 and 3,500 sq ft, with the graphene-enhanced concrete being used for the external concrete aprons. This is the second time this developer has used the technology provided by NERD, having previously used it in the construction of an industrial park in Warminster, approximately 170 km west of London, United Kingdom.

Rob Hibberd, President and Chief Executive Officer of NERD, commented: "We're thrilled to announce another commercial concrete pour using our innovative graphene enhanced Concretene. This endeavor not only speaks to the positive response and interest in our proposition but is yet another opportunity to monitor the long-term real-life performance of our product. We look forward to continuing to innovate and collaborate with our partners to deliver cutting-edge solutions to the construction industry."

Corporate Matter

The Company has granted, to a recently hired officer, 500,000 stock options exercisable at a price of CA$0.17 per share for a period of five years from their date of grant (May 2, 2023). These options are subject to vesting as to one third immediately upon grant, and one third on each of the first and second anniversary of the grant.

About Black Swan Graphene Inc.

Black Swan is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene. Black Swan aims to leverage the low cost and green hydroelectricity of the province of Québec as well as the proximity of the province's emerging graphite industry in order to establish an integrated supply chain, reduce overall costs, and accelerate the deployment of graphene usage. On March 27, 2023, Black Swan, Nationwide Engineering Research and Development Ltd. ("NERD") and Arup Group Limited ("Arup") announced strategic partnerships, establishing a fully integrated supply chain and providing a turnkey solution for the construction and concrete industries. Arup is a multinational engineering consultancy headquartered in London, United Kingdom, with 18,000 experts working across 140 countries. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd ("Thomas Swan") over the last decade. Thomas Swan is a United Kingdom-based global chemicals manufacturer, with a century-long track record and has been at the forefront of graphene innovation.

For more information, please visit: www.blackswangraphene.com

Black Swan Graphene Inc. on behalf of the Board of Directors
Simon Marcotte, CFA, President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to the TSXV listing, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with the industry; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in development activities or the completion of feasibility studies; the uncertainty of profitability; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of a scoping and feasibility studies, and the possibility that future results will not be consistent with the Company's expectations; risks related to commodity prices fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Furthermore, performance results of graphene products as additives can vary widely depending on type and the specificity of the target material, the specifics of the graphene product itself, including but not limited to, carbon purity, particle size, surface agent, dispersion behavior, and application and usage methods. Investors are cautioned against attributing undue certainty to forward-looking statements and initial test results. These forward-looking statements and test results are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

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SOURCE Black Swan Graphene Inc