Mr. John Lee reports

SILVER ELEPHANT ANNOUNCES A $375,000 NON-BROKERED PRIVATE PLACEMENT

Silver Elephant Mining Corp. has arranged a non-brokered private placement to raise gross proceeds of $375,000 through the sale of 1.5 million units at a price of 25 cents per unit. Each unit consists of one common share of the company and one share purchase warrant with each warrant, entitling the holder to purchase one additional share at a price of 30 cents per share for a period of three years from issuance.

Finders' fees of up to 7 per cent in finder units will be payable. Each finder's unit will consist of one share and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the company at a price of 30 cents per share for three years.

Certain directors and officers of the company are expected to be subscribing for up to 600,000 units for gross proceeds of up to $150,000. Such participation will be considered to be a related-party transaction as defined under Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the units to be acquired by the participating directors and officers, nor the consideration to be paid by such directors and officers is anticipated to exceed 25 per cent of the company's market capitalization.

The securities issued under the private placement will be subject to a regulatory hold period of four months plus one day from the date of issue. The company intends to use the net proceeds from the private placement primarily for general working capital purposes.

The private placement is subject to approval by the Toronto Stock Exchange.

About Silver Elephant Mining Corp.

Silver Elephant is a mineral exploration company with gold and silver projects in Bolivia.

We seek Safe Harbor.