Silver Elephant Expects June Sale of New Silver Concentrate Batch Ahead of Schedule

Executive Summary

• Silver Elephant Mining Corp. delivered 1,220 tonnes of silver-bearing material (averaging 410 g/t Ag) to its toll-milling facility for processing into a third batch of silver concentrate, expected for sale in June 2026.
• Underground mining operations at the Apuradita Silver Project in Bolivia are advancing at a steady rate, with production improvements driven by new mining faces, equipment upgrades, and increased manpower.
• The company forecasts monthly production of 400–600 tonnes of mineralized material for 2026 (subject to permitting thresholds), with quarterly concentrate sales, while simultaneously conducting surface sampling for potential open-pit mining zones above the existing tunnel system.

Key Details

• Material Delivery & Processing: 1,220 tonnes of silver-bearing material trucked to toll-milling facility; average grade of 410 g/t Ag; ready for processing into a third batch of silver concentrate for expected sale in June 2026.
• Production Forecast & Sales: Expected production of 400 to 600 tonnes of mineralized material per month in 2026 (subject to permitting threshold); concentrate sales planned on a quarterly basis.
• Mining Operations & Methodology: Underground mining continues at a steady rate; production improved via additional mining faces, equipment upgrades, and increased manpower; advancing additional faces through crosscuts and drifts.
• Stope Design & Extraction: Shrinkage stoping method utilized; two stopes designed with approximate dimensions of 30m length, 20m height, and 4m width; extraction rate of 20 to 40 tonnes per day.
• Historical Grade Data: Sulphide mineralization averages approximately 412 g/t Ag, 1.09% Pb, and 0.38% Zn based on historical drilling and internal geological interpretations.
• Exploration & Surface Sampling: Active surface sampling ongoing ~20 meters vertically above the Apuradita tunnel system; additional sampling for potentially amenable open-pit mining zones also underway.
• QA/QC Protocols: Samples prepared at ALS Global Laboratories (Oruro, Bolivia) and analyzed in Lima, Peru; analysis via Intermediate Level Four acid digestion; silver over-limits determined by fire assay with gravimetric finish; labs accredited to ISO/IEC 17025:2017 and ISO 9000:2015; core sampled from HQ/NQ diamond drill core, longitudinally halved, photographed, and logged prior to submission.