Mr. John Lee reports

SILVER ELEPHANT STARTS TRUCKING AND TOLL MILLING OF SILVER MATERIALS FROM APURADITA PACA IN BOLIVIA

Trucking of silver-mineralized material from Silver Elephant Mining Corp.'s Apuradita Paca project in Bolivia commenced on Aug. 29, 2025. The material mined from Apuradita is being toll-milled at a 400-tonnes-per-day processing plant located in Potosi, approximately 180 kilometres away, to produce silver-lead-zinc concentrate for sale to an international concentrate buyer at spot silver price. There exists approximately 855 tonnes of stockpiled materials to be toll milled. In addition, there is fresh mineralized materials coming from continuing mine production. Apuradita is outside of the area covered under the mining production contract between the company and the Corporacion Minera de Bolivia (COMIBOL).

Silver Elephant maintains its near-term monthly production forecast of 1,000 to 2,000 tonnes of silver-bearing mineralized material. The company currently projects to toll mill approximately 10,000 tonnes of mineralized feed in the initial campaign, with further upside potential as additional mineralized zones are delineated and developed.

During Apuradita tunnel development in 2025, the company discovered several high-grade silver-bearing stockwork veinlet systems prior to reaching intended stoping areas. Channel sampling conducted along the tunnel walls intercepted a 10-metre-wide of highly mineralized interval which is not included in the current resource model, and the extent and geometry of these shoots remain unknown. The company plans to explore these priority targets in due course.

As outlined in the news release dated July 8, 2024, sulphide mineralized materials at Apurdita will be mined using the shrinkage stoping method. The two stopes are designed with approximate dimensions of 30 metres in length by 20 metres in height by four metres in width, with a planned average extraction rate of 50 to 100 tonnes per day. The calculated average grade of extracted and sorted sulphide materials is 412 grams per tonne Ag (silver), 1.09 per cent Pb (lead) and 0.38 per cent Zn (zinc), based on diamond drill holes at Apuradita and an internally developed mine model.

Several examples of high-grade intercepts within the Apuradita mineralized zone include those shown in the attached table.

The full drill hole assay results were previously released on SEDAR+ from 2015 to 2025.

The assumptions set out above are based on a resource estimate at Apuradita that is not a reserve estimate. Mineral resources that are not mineral reserves do not have demonstrated economic viability and therefore should not be relied upon.

The company is thankful for continued support from local communities.

Qualified person

The technical contents of this news release have been prepared under the supervision of Carlos Zamora, a member of the American Institute of Professional Geologists (AIPG) and a certified professional geologist (CPG) since 2024, who is an employee of the company and is not considered independent. Mr. Zamora is a qualified person as defined by National Instrument 43-101.

About Silver Elephant Mining Corp.

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

We seek Safe Harbor.