SILVER ELEPHANT MNG CORP - SILEF STOCK NEWS

Silver Elephant Mining Corp. (ELEF) has filed an early warning report under NI 62-103 following its acquisition of 40,000,000 common shares of Victory Nickel Inc. (VN) for $1,000,000 at $0.025 per Share. The acquisition was finalized on February 8, 2021, making ELEF a holder of approximately 29.0% of VN's outstanding shares. ELEF plans to evaluate its investment and may adjust its holdings. A voting trust agreement between ELEF and VN has been established, ensuring that ELEF votes in line with VN's directives.

Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) has successfully closed its non-brokered private placement, raising $3,750,000 by issuing 10,000,001 common shares at $0.375 per share. After this placement, the company has 192,895,079 shares outstanding. The funds will be allocated for exploration, working capital, and general corporate purposes, including project evaluations and acquisitions. A finder’s fee of $73,875 was also paid. The shares will be subject to a four-month hold period.

Silver Elephant Mining Corp. (SILEF) announced the complete assay results from its diamond drill program at the Paca silver-lead-zinc deposit in Bolivia. All five drill holes showed mineralization, with PND115 reporting 66 meters at 75g/t silver equivalent and PND118 showing 112 meters at 50g/t. The company has $9 million in treasury and plans for further drilling in 2021 to expand its current resource base of 106.7 million oz indicated silver. The mineralization remains open to the north and east, enhancing the potential for growth.

Silver Elephant Mining Corp. (SILEF) announced results from its diamond drill program at the El Triunfo project in Bolivia. Borehole TR007 reported 48.9 meters of mineralization with grades of 0.42 g/t gold, 35.5 g/t silver, 1.17% zinc, and 0.83% lead (1.45 g/t AuEq). The program demonstrates broad continuity of mineralization over 225 meters, with potential for further exploration. The upcoming drilling phase is planned for the first half of 2021. Quality control measures in sampling and analysis adhere to industry standards.

Silver Elephant Mining Corp. has completed a bought deal offering, issuing 23 million common shares at a price of C$0.40 each, raising C$9.2 million in gross proceeds. The offering was led by Mackie Research Capital and included an over-allotment option. Proceeds will fund the exploration and development of the company’s mineral properties and support working capital needs. Investors should consider the associated risks and uncertainties outlined in the company’s forward-looking statements.

Silver Elephant Mining Corp. (SILEF) announced the filing of an independent amended technical report for the Pulacayo project, dated November 12, 2020, and effective October 13, 2020. This report, prepared by Mercator Geological Services, is available on SEDAR. The company has filed a final short form prospectus for a bought deal offering of 20 million common shares at C$0.40 per share, aiming to raise $8 million. The offering is expected to close on November 24, 2020, pending regulatory approval. Insider participation includes 750,000 shares by director John Lee.

Silver Elephant Mining Corp. has filed an independent technical report for its Pulacayo project, effective October 13, 2020. The report, prepared by Mercator Geological Services Limited, is available on SEDAR. The company also filed a preliminary short form prospectus to conduct a bought deal offering of 20 million common shares at C$0.40 each, expected to close by November 12, 2020, subject to regulatory approvals. The press release clarifies that these securities are not registered in the U.S., emphasizing compliance with securities regulations.

Silver Elephant Mining Corp. has successfully completed a 545 meter exploration drilling program at its Paca deposit within the Pulacayo Project in Bolivia. This drilling tested potential 'blind' mineralization through angled holes, expanding on the previous north-south drilling. The Mineral Resource Estimate, effective as of October 13, 2020, includes an Indicated Resource of 106.7 million oz of silver, with significant quantities of zinc and lead as well. Assay results from the recent drilling program are anticipated in November 2020.

Silver Elephant Mining Corp. announced an NI43-101 compliant Mineral Resource Estimate for its Pulacayo silver-lead-zinc project in Bolivia, effective October 13, 2020. The estimate reveals an Indicated Resource of 106.7 million oz silver, 1,384.7 million lbs zinc, and 693.9 million lbs lead, alongside an Inferred Resource of 13.1 million oz silver, 122.8 million lbs zinc, and 61.9 million lbs lead. The company has invested over US$30 million in the project since 2006. A detailed technical report will be filed within 45 days.