BLACK SWAN GRAPHENE AND GRAPHENE COMPOSITES INITIATE COMMERCIAL PARTNERSHIP FOR BALLISTIC PROTECTION

TORONTO, June 18, 2024 /PRNewswire/ - Black Swan Graphene Inc. ("Black Swan" or the "Company") (TSXV: SWAN) (OTCQB: BSWGF) (Frankfurt: R96) and Graphene Composites Ltd. ("GC"), a leading advanced materials engineering company, are pleased to announce having initiated a commercial partnership for the supply of Black Swan's graphene used in the fabrication of GC Shield^®, a patented ballistic protection technology ("GC Sheilds"). Furthermore, Black Swan is excited to report having received strong interest for its graphene enhanced masterbatch products (see press release dated April 30, 2024). Several promising initiatives involving high-profile customers are currently underway, and the Company expects to provide more details in the near future.

GC Shields offer unparalleled, lightweight ballistic protection to the law enforcement and defense sectors. Utilizing advanced materials and GC's patented graphene-aerogel composite, these shields possess unique force dispersion capabilities providing protection against multiple shots, stacked rounds, and edge impacts, all while maintaining minimal back face deformation^.1 GC Shields are among the strongest, lightest, and most resilient ballistic shields on the market.

GC is currently extending the GC Shields technology using Black Swan's graphene to other applications, where the strength, resilience and lightweight of the composite can provide significant protection, including vehicle armour with certified STANAG Level-1 tests.²

Dr Steve Devine, Chief Technology Officer of GC, commented: "The quality, stability, and purity of the graphene produced by Black Swan, now utilized in the manufacture of GC Shields, ensure a highly stable product. Combined with their ISO-certified manufacturing processes, scalability, and competitive pricing, Black Swan offers significant reassurance regarding ongoing quality, cost, and production reliability within the supply chain."

Michael Edwards, Chief Operating Officer, of Black Swan, added: "We have been collaborating with Graphene Composites for some time and are delighted that their GC Shields products are being adopted in high-profile global safety applications. We look forward to continuing our partnership and developing further innovative solutions together."

GC Shields technology is protected by registered patents.

GC is an innovative advanced materials engineering company, driven by an ethos to create life-changing products. As a world leader in advanced and nano-materials research, development and design, we apply our expertise to a wide range of applications. We work with manufacturers to resolve key technical challenges by developing breakthrough solutions and incorporating our technologies to enhance existing product performance.

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. and Arup Group Ltd. ("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.

More information is available at: 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.

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 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.

SOURCE Black Swan Graphene Inc.