Silver Elephant to Submit Environmental Impact Assessment for 12,000 Tonne-per-Day Pulacayo-Paca Processing Plant; Environmental License Decision Expected by June 2027

Silver Elephant Mining Corp. (ELEF) announced on November 13, 2026, that it is preparing to submit the Environmental Impact Assessment Study (EEIA-AI) for its proposed 12,000 tonne-per-day (tpd) mineral processing plant at the Pulacayo-Paca project in Bolivia by the end of December 2026. The facility features a dual-circuit design capable of processing up to 10,000 tpd of sulphide materials and up to 2,000 tpd of oxide materials, sourced from the Pulacayo, Paca, and Apuradita deposits.

Bolivia's national environmental authority approved the Environmental Categorization Form (FNCA) in July 2026, classifying the project as Category 1. Baseline studies are currently concluding, with socioeconomic consultations planned for November and December 2026. An anticipated decision on the Environmental Impact Declaration (DIA/license) is expected by June 2027. The company explicitly reiterates that no current feasibility study, pre-feasibility study, or mineral reserves have been established for the project, highlighting high development risk and unverified historical data.

The permitting update follows a legal victory on November 6, 2026, when the Bolivian Supreme Tribunal of Justice ruled in favor of the company, reinstating the 30-year Mining Production Contract (MPC) with COMIBOL and annulling the prior termination. This development moves the project from legal resolution to environmental permitting and infrastructure planning.

In other recent developments, Silver Elephant Mining provided an update on October 26, 2026, regarding the acquisition of the Robinson-Lasher zinc-germanium-gallium asset, noting that initial share consideration has been issued and title transfer is pending. In August 2026, Apuradita underground operations generated approximately $1.4 million USD in cash proceeds from three concentrate batches via toll milling, with a 35% estimated cash flow margin. Additionally, in September 2026, the company closed a non-brokered private placement raising up to $882,000 CAD, primarily for working capital.

Silver Elephant Mining Corp. (ELEF) has reached a standard permitting milestone following the successful legal reclamation of its Pulacayo-Paca project. This development confirms management’s execution on the post-legal victory roadmap, though it does not introduce new financial metrics, reserve estimates, or immediate production timelines.

The company explicitly noted the absence of a feasibility study or reserves, maintaining the project's classification as a high-risk, exploration-stage asset. The permitting timeline extends to mid-2027, meaning no near-term cash flow or capital expenditure impact is expected from this release.

The stock’s prior reaction to the Nov 6 legal win—spiking to $0.35 before pulling back to $0.28—indicates market skepticism regarding the timeline to commercial production. This routine update is unlikely to alter that sentiment without a resource update or feasibility study.

Silver Elephant Mining Corp. (TSX: ELEF) is a mineral exploration and development company focused on silver, lead, zinc, and critical metals. Its flagship asset is the Pulacayo-Paca project in the Potosí Department of Bolivia, which covers 2,803 hectares and is held under a 30-year Mining Production Contract (MPC) with COMIBOL. The contract was reinstated following a Supreme Tribunal ruling in November 2026. The project hosts historical Indicated and Inferred resources totaling approximately 106.7 moz Ag, 1,384.7 Mlbs Zn, and 693.9 Mlbs Pb, effective as of October 2020.

The company’s portfolio also includes the Apuradita silver project in Bolivia, which is currently in production via toll milling; the Robinson-Lasher zinc-germanium-gallium project in Kentucky, USA; the Ulaan Ovoo coal mine in Mongolia; and the El Triunfo gold-silver project in Bolivia. Silver Elephant Mining is currently in the exploration and permitting stage and does not hold current mineral reserves or feasibility studies.