SILVER ELEPHANT MNG CORP - SILEF STOCK NEWS

Silver Elephant Mining Corp. has announced key management appointments for its spinout, Flying Nickel Mining Corp., which is well-funded following an $8.6 million equity offering. CEO Danniel Oosterman will lead the team to advance the Minago project, boasting substantial nickel resources. The new leadership includes seasoned professionals with extensive mining experience, aimed at strengthening operations in the Canadian nickel sector. The project is located in Manitoba’s Thompson Nickel Belt, housing significant nickel deposits and receiving over $40 million in investment since the early 2000s.

Silver Elephant Mining Corp. has successfully completed a private placement through its subsidiary, Flying Nickel Mining Corp., raising $8.6 million. The offering included over 10 million non-flow through subscription receipts priced at $0.70 each and nearly 2 million flow-through eligible receipts at $0.77. Proceeds will support the Minago Nickel Project and general working capital. Key conditions include shareholder approval for a plan of arrangement scheduled for December 22, 2021.

Silver Elephant Mining Corp. announced an upsized private placement for its subsidiary, Flying Nickel Mining Corp., increasing the offering from $7 million to $8.6 million. The offering will consist of Non-FT Subscription Receipts priced at $0.70 and FT Subscription Receipts priced at $0.77. Blackstone Minerals Limited is set to invest $2.975 million, acquiring 4.25 million Non-FT Subscription Receipts, which will give it a projected 6.85% stake in Flying Nickel upon completion. The proceeds will be allocated towards the Minago Nickel Project and general working capital.

Silver Elephant Mining Corp. (TSX:ELEF, OTCQX:SILEF) has successfully closed the final tranche of its private placement, raising a total of $3,740,000 by issuing 17,000,000 shares at $0.22 each. The third tranche alone contributed $1,796,000 from 8,163,640 shares. Proceeds will support mineral project development and working capital. The shares are under a regulatory hold until March 13, 2022. This follows previous announcements regarding the upsized offering.

Silver Elephant Mining Corp. has announced a private placement for its spin-off, Flying Nickel Mining Corp., aiming to raise up to $7,000,000 through the sale of subscription receipts. The offering includes 5,000,000 Non-FT Subscription Receipts priced at $0.70 each and flow-through Subscription Receipts at $0.77. The funds will be escrowed until certain conditions are met, including shareholder and regulatory approvals. The arrangement is expected to close around November 17, 2021, and Flying Nickel aims to list its shares on the TSX Venture Exchange.

Silver Elephant Mining Corp. will hold a Special Meeting of Shareholders on December 14, 2021, at 9:00 am PST. The meeting's purpose is to seek shareholder approval for a Plan of Arrangement and the Spin-Out of the Company's Nickel and Vanadium assets, previously announced on August 26 and September 23, 2021. Shareholders will receive the Notice of Meeting and supporting documents around November 17, 2021. Silver Elephant is recognized as a premier silver mining and exploration company.

Silver Elephant Mining Corp. has successfully closed the second tranche of its private placement offering, raising $1,025,800 through the issuance of 4,662,727 common shares at $0.22 per share. This follows an increase in the offering size from 15 million to 17 million shares, targeting total gross proceeds of $3,740,000. The funds will support mineral project development and general working capital. Additionally, 141,000 Finder's Warrants were issued, exercisable at $0.26 until October 2022. The shares are subject to a hold period until February 22, 2022.

Silver Elephant Mining Corp. has announced the filing of an independent Technical Report on the Gibellini Vanadium Project, conducted by Wood Group USA, Inc. and Mine Technical Services Ltd. The report, dated October 8, 2021, updates the preliminary economic assessment (PEA) for the project. This development reflects the company's ongoing efforts to advance its nickel, silver, and vanadium projects in Nevada. The report is available on SEDAR, highlighting Silver Elephant's commitment to transparency and reporting in the mining sector.

Silver Elephant Mining Corp. has appointed Robert Van Drunen as Chief Operating Officer effective September 27, 2021. Van Drunen, who has over 30 years of experience at Vale and Inco, will oversee the company’s mining projects in Bolivia and Mongolia. He also aims to assist with the spinout plan for Flying Nickel Mining Corp., which will operate the Minago nickel project. His focus will be on exploration, permitting, mine construction, and production, leveraging his track record in process improvement and safety culture.