SILVER ELEPHANT MNG CORP - SILEF STOCK NEWS

Silver Elephant Mining Corp. reports initial diamond drill results from its El Triunfo gold-silver project in Bolivia. Five holes totaling 1,500 meters are being drilled to test geophysical anomalies. Significant findings include TR009 with 14 meters of 2.5 g/t AuEq and TR010 with 1.2 meters of 7.7 g/t AuEq. The exploration expands the mineralized width and enhances prospects, potentially tripling the mineralized strike length to 2.3 kilometers. Assay results for additional holes are expected in April, which could further confirm mineralization at the Triunfo project.

Silver Elephant Mining Corp. announced diamond drilling results from the Paca deposit at its Pulacayo silver project in Bolivia. Eight holes were drilled, totaling 1,717 meters. Notable results include PND 123, which intercepted 27 meters of 159 g/t silver, indicating a northern extension of the Paca oxide resource. Future drilling is planned to expand the resource, and a prefeasibility study will be commissioned for a potential open-pit operation. The exploration aligns with ongoing environmental permitting for an oxide leach processing operation.

Silver Elephant Mining Corp. announced significant diamond drilling results from its Paca deposit in Bolivia, comprising 1,717 meters across 8 holes. Key findings include PND 123, which intercepted 27 meters at 159 g/t silver, indicating a northern and northeastern extension of the resource. The company is set to expand drilling efforts in the second half of 2022, focusing on a potential open-pit operation. Additionally, they plan to conduct a prefeasibility study and complete environmental permitting to advance development decisions by early 2023.

Silver Elephant Mining Corp. (SILEF) reported results from its recent exploration drilling at the Pulacayo silver project in Bolivia. A total of 9 holes were drilled over 3,251 meters, targeting geophysical anomalies. Notably, PUD292 intersected high-grade mineralization of 299 g/t silver, indicating potential for undiscovered vein systems outside the main Tajo Vein System. The ongoing exploration aims to refine future targets and enhance geological understanding of the area, which holds significant historical production.

Silver Elephant Mining Corp. has successfully completed its previously announced Plan of Arrangement, consolidating shares on a 10:1 basis. Shareholders will receive one post-Consolidation share of Silver Elephant, along with shares of Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp.. Effective January 18, 2022, trading will occur under the same symbol ELEF on the TSX, while the OTCQX trading symbol changes to SILEFD temporarily. The new entities will commence their respective operations, focusing on mining projects in Bolivia and Canada.

Silver Elephant Mining Corp. has announced that the trading of its common shares will begin on a post-Arrangement and post-Consolidation basis on January 18, 2022, following its confirmed Effective Date of January 14, 2022. Shareholders will exchange 10 pre-Consolidation shares for one post-Consolidation share and shares in Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp. For detailed information, refer to the management information circular available at www.sedar.com.

Silver Elephant Mining Corp. has received final approval from the British Columbia Supreme Court for its plan of arrangement, following nearly unanimous shareholder approval on December 22, 2021. The arrangement will consolidate common shares on a 10:1 basis effective January 14, 2022. Shareholders will receive common shares in three new entities: Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp. Trading in post-consolidation shares is expected to start January 18, 2022, pending TSX bulletin issuance.

Silver Elephant Mining Corp. (TSX: ELEF, OTCQX: SILEF) announced the release of $1.5 million from escrow following the conversion of 1,992,437 flow-through subscription receipts into common shares at $0.77 each. An additional $7.1 million remains in escrow pending court approval. The company issued 4.6 million shares to Victory Nickel Inc. as part of an asset purchase agreement. Notably, no further payments are required unless nickel prices exceed $10 per pound for 30 consecutive days before the end of 2023.

Silver Elephant Mining Corp. announced the approval of all resolutions at its special general meeting held on December 22, 2021. Key voting results included:

• Approval of a special resolution for an arrangement under British Columbia's Business Corporations Act.
• Approval of incentive plans for SpinCo 1, SpinCo 2, and SpinCo 3 with high voter support of 97.53%, 98.43%, and 97.51%, respectively.
• Approval of a resolution for SpinCo 1 Financing with 82.78% in favor.

A final order from the Supreme Court of British Columbia is expected on January 11, 2022, with a subsequent share consolidation.