SILVER ELEPHANT MNG CORP - SILEF STOCK NEWS

Silver Elephant Mining Corp. is set to implement a plan of arrangement to spin out its projects, including the Minago Nickel and Gibellini Vanadium projects, into new entities: Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp.. This restructuring is expected around December 2021, with significant share distribution changes for shareholders. Post-Arrangement, Silver Elephant will retain its core silver and gold-silver projects in Bolivia, alongside a 33.2% stake in Battery Royalties. Shareholder approval will be sought in early-to-mid December.

Silver Elephant Mining Corp. announced that all resolutions were approved during the Annual General and Special Meeting held on September 10, 2021. Key voting results showed significant support: 99.83% approved the number of directors fixed at four, and 99.92% re-appointed Davidson & Company LLP as auditors. Notably, a new 10% Rolling Incentive Plan received 70.56% approval, although 29.44% voted against it. The meeting was attended by 173 shareholders representing 23,113,518 shares.

Silver Elephant Mining Corp. (TSX:ELEF, OTCQX:SILEF) announced a proposed non-brokered private placement to raise up to $3.3 million by issuing 15 million common shares at $0.22 per share. Subject to Toronto Stock Exchange approval, the offering is expected to close around September 22, 2021. Proceeds will fund exploration, working capital, and corporate purposes. The shares will be subject to a four-month hold period following issuance. Finder’s fees may apply, subject to TSX policies.

Silver Elephant Mining Corp. has reported positive developments in its exploration efforts at the Pulacayo silver project and the El Triunfo gold-silver project in Bolivia.

At Pulacayo, 1,972 meters of drilling has been completed, confirming the presence of galena and other minerals at significant depths.

The El Triunfo project has identified new IP anomalies, potentially expanding the mineralized strike from 750m to 2.3km. The company plans to prioritize drilling targets for October. Recent survey results affirm the potential for further resource enhancement.

Silver Elephant Mining Corp. announced a preliminary economic assessment (2021 PEA) for its Gibellini vanadium project, showing a 25.4% after-tax internal rate of return and $260.8 million in cumulative cash flow based on a $10.00 per pound V2O5 price. The project, in Nevada, is set for open pit heap leach mining, requiring $147 million in initial capital costs, with an average annual production of 10.2 million pounds of V2O5 at an all-in sustaining cost of $6.04 per pound. The project is aligned with U.S. green energy initiatives, and a technical report will be available in 45 days.

Silver Elephant Mining Corp. announces the establishment of Battery Metals Royalties Corp., a wholly-owned subsidiary that will hold a 2% royalty on key mining projects, including Minago nickel, Gibellini vanadium, and Pulacayo silver. The royalties only take effect when threshold prices for the respective metals are reached, designed to reduce impact on mine construction. The company aims to leverage the expertise of new management to focus on mining investments and identify opportunities in nickel, vanadium, silver, copper, and gold.

Silver Elephant Mining Corp. has announced a plan of arrangement to spin out its Manitoba-based Minago Nickel project, Nevada-based Gibellini Vanadium project, and certain royalties into separate entities. Shareholders will receive shares in these SpinCos, with expected distributions of one share each for Minago and Gibellini, and two shares for Battery Metals Royalties for each share of Silver Elephant held. The arrangement is anticipated to close in December 2021, subject to approvals. Post-spin-out, Silver Elephant will manage its Pulacayo silver and El Triunfo gold-silver projects while Battery Metals Royalties targets mining investments.

Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) has filed an independent Technical Report on the Minago Nickel Project, dated August 20, 2021, with an effective date of July 2, 2021. The report, prepared by Mercator Geological Services Limited and supported by AGP Mining Consultants and Stantec Consulting, has been filed on the System for Electronic Document Analysis and Retrieval. The Company continues to position itself as a leader in battery metals mining.

Silver Elephant Mining Corp (TSX: ELEF, OTCQX: SILEF) will hold a live presentation at VirtualInvestorConferences.com on July 27, 2021, at 2 PM ET. The presentation will feature Ron Espell and Danniel Oosterman, who will engage with investors in real time. Recently, the company reported a nickel resource estimate of 722 million pounds at the Minago project in Manitoba. They are also updating a preliminary economic assessment for the Gibellini vanadium project in Nevada. Archived access will be available post-event.