SILVER ELEPHANT MNG CORP - SILEF STOCK NEWS

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) reports mining 22,669 tonnes of silver-bearing oxide materials at its Paca Silver Project in August 2024, averaging 193 g/t silver. The company has mined and shipped 176,803 tonnes grading 180 g/t silver since October 2023, totaling 965,531 oz of silver. Silver Elephant initiated a phase one sulphide operation in August, expecting revenue generation by year-end 2024.

Under agreements with Andean Precious Metals Corp., Silver Elephant plans to sell up to 800,000 tonnes of Paca oxide materials for US$5-7 million, depending on silver prices. At current rates, the company expects to receive US$2.5 million before January 31, 2025. The Paca project hosts a high-grade silver resource, with indicated oxide resources of 800,000 tonnes at 231 g/t silver and indicated sulfide resources of 1,810,000 tonnes at 256 g/t silver.

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) announced drill results from its Paca deposit in Bolivia. Notable findings include:

- PC24-27: 17.45 meters of 120 g/t silver from surface
- PC24-25: 13.72 meters of 118 g/t silver from surface
- PC24-28: 2.95 meters of 38.9 g/t silver (250m northwest step-out)

The company plans to start a 367-meter tunnel development at Paca in September 2024 and deliver the first sulphide concentrate sale before year-end. Silver Elephant expects to receive US$2.5 million from Andean Precious Metals by January 31, 2025, as part of an agreement to sell up to 800,000 tonnes of Paca oxide materials.

Silver Elephant Mining Corp. (OTCQB: SILEF) has completed the second and final tranche of its non-brokered private placement, raising $78,362 through the issuance of 163,254 units at $0.48 per unit. Each unit includes one common share and one warrant, allowing the purchase of an additional common share at $0.70 for three years. The proceeds will fund phase one sulphide operations at the Paca silver project in Bolivia and general corporate purposes. CEO John Lee subscribed for 75,754 units, contributing $36,362. No finder's fees were paid, and the securities are subject to a hold period until December 14, 2024.

Silver Elephant Mining Corp. (SILEF) reported significant progress in its Paca silver project in Bolivia. The company mined 27,066 tonnes of Paca oxide materials in July 2024, with an average grade of 175.5 g/t silver. Since October 2023, Silver Elephant has mined and shipped over 154,800 tonnes of silver-bearing oxide materials, grading 177.4 g/t silver, producing a total of 836,243 oz silver in the past 9 months.

The company plans to expand operations with Paca phase one sulphide mining by year-end. Silver Elephant expects to receive US$2.5 million before January 31, 2025, from its agreement with Andean Precious Metals Corp. The Paca project hosts a high-grade silver resource, with indicated oxide resources of 800,000 tonnes at 231 g/t silver and indicated sulfide resources of 1,810,000 tonnes at 256 g/t silver.

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) has announced positive drill results from its Paca deposit in Bolivia. Notable findings include:

- PC24-11: 41.06 meters of 237 g/t silver from surface
- PC24-01: 38.15 meters of 83 g/t silver from surface

The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean Precious Metals Corp. for US$5-7 million. At current silver prices, Silver Elephant expects to receive US$2.5 million before January 31, 2025. The drill program has improved confidence in the Paca resource model and proven additional silver mineralization outside the existing resource area.

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) has upgraded its common shares quotation to the OTCQB market in the United States, effective July 25, 2024. This move represents a significant step for the company, potentially increasing its visibility and accessibility to U.S. investors. The OTCQB is a mid-tier over-the-counter market for U.S. stocks, known for its more stringent listing requirements compared to the pink sheets. Investors can now find quotes and current financial disclosures for Silver Elephant on the OTC Markets website under the ticker SILEF.

Silver Elephant Mining Corp. (TSX: ELEF, OTC Pink: SILEF) has closed the first tranche of its non-brokered private placement, raising $1,111,584 through the issuance of 2,315,800 units at $0.48 per unit. Each unit includes one common share and one warrant, allowing the purchase of an additional share at $0.70 for three years. The company issued 159,978 units as finder's fees. Proceeds will fund phase one sulphide operations at the Paca silver project in Bolivia and general corporate purposes. The securities are subject to a hold period until November 24, 2024. Silver Elephant has increased the proposed placement from 2,000,000 to 3,000,000 units.

Silver Elephant Mining Corp. (TSX: ELEF) (OTC Pink: SILEF) has announced promising drill results from its Paca deposit in Bolivia. Notable findings include:

- Hole PC24-18: 39.9 meters of 159 g/t silver from surface, including 3.0 meters of 583.5 g/t silver

- Hole PC24-23: 23.1 meters of 138 g/t silver from surface, including 2.7 meters of 360 g/t silver

The company has an agreement with Andean Precious Metals Corp. to sell up to 800,000 tonnes of Paca oxide materials for US$5-7 million. At current rates, Silver Elephant expects to receive US$2.5 million before January 31, 2025. The drill program has potential to expand the Paca oxide resource, which could lead to additional sales agreements.

Silver Elephant Mining announced a non-brokered private placement to raise $960,000 through the sale of 2,000,000 units at $0.48 per unit. Each unit includes one common share and one warrant to purchase an additional share at $0.70 within three years. Funds will support commissioning of the Paca phase one sulphide operation and general corporate uses. Directors are subscribing for 400,000 units, amounting to $192,000. This transaction is a related party transaction under MI 61-101, but exemptions apply. Toronto Stock Exchange approval is pending.