Silver Elephant to Acquire High-Grade Robinson-Lasher Zinc-Germanium-Gallium Project in Kentucky, 90 Miles from Proposed US$7.4 Billion Korea Zinc Smelter in Tennessee

Executive Summary

• Silver Elephant Mining Corp. has entered into a binding definitive Asset Purchase Agreement to acquire the Robinson-Lasher zinc-germanium-gallium project from CleanTech Vanadium Mining Corp.
• The transaction consideration consists of 6.3 million common shares (deemed C$0.13/share, ~9.9% pro forma for CleanTech) and US$1,255,000 in scheduled cash installments through 2029.
• Closing is contingent on regulatory/stock exchange approvals and requires Silver Elephant to complete US$2M in exploration expenditures and an independent technical report by September 2029.
• The project is strategically located ~90 miles from Korea Zinc's planned US$7.4B critical metals smelter in Tennessee, positioning it as a potential domestic feedstock source for zinc, germanium, and gallium.

Key Details

• Transaction Structure: Binding definitive Asset Purchase Agreement (APA) dated June 11, 2026.
• Target/Counterparties: Robinson-Lasher zinc-germanium-gallium project acquired from CleanTech Vanadium Mining Corp. (TSXV: CTV).
• Equity Consideration: 6,300,000 common shares of Silver Elephant issued to CleanTech at a deemed price of C$0.13 per share, resulting in ~9.9% pro forma ownership for CleanTech.
• Cash Consideration: Aggregate US$1,255,000 payable in scheduled installments: US$85,000 (on/before Sept 1, 2026), US$85,000 (on/before Sept 1, 2027), US$85,000 (on/before Sept 1, 2028), and US$1,000,000 (on/before Sept 1, 2029).
• Post-Closing Obligations: Silver Elephant must incur a minimum of US$2,000,000 in exploration expenditures at the project and complete an independent technical report prepared by a qualified person on or before September 1, 2029.
• Closing Conditions: Subject to applicable securities laws, TSX/TSXV approvals, and disinterested shareholder approvals for both companies.
• Conflict of Interest: John Lee serves as CEO and director of both Silver Elephant and CleanTech and will abstain from board voting on the transaction.
• Project Location & Size: ~1,524 acres of mineral rights in Livingston County, Kentucky (Illinois-Kentucky Fluorspar District).
• Historical Infrastructure & Drilling: 232 historic drill holes; existing 1,270-foot production decline reaching ~240 feet vertical depth with a ventilation shaft; underground access requires rehabilitation.
• Historical Resource Estimate: 387,225 tons grading 14% zinc (published by US Steel Corporation in 1983).
• Critical Metal Assays: 2008 confirmation drilling (Hole DXHR-01) returned anomalous germanium (10–220 ppm) and gallium (up to 20 ppm), reported as recoverable by Korea Zinc's proposed Tennessee smelter.
• Strategic Market Context: Located ~90 miles north of Korea Zinc's planned US$7.4B integrated zinc/critical minerals smelter in Clarksville, TN. The facility is expected to require 600,000–700,000 tonnes/year of zinc concentrate feed, with stated preference for domestic sourcing. Zinc is currently trading at multi-year highs (~US$1.6/lb) amid tightening global supply.