Statement in Response to Silver Elephant's News Release Dated June 17, 2026

Executive Summary

• Andean Precious Metals Corp. publicly disputes and denies allegations made by Silver Elephant Mining Corp. in a June 17, 2026 Notice of Civil Claim filed in Vancouver, British Columbia.
• The company categorically rejects claims that it improperly interfered with Silver Elephant's contractual or business relationships, labeling the allegations as "spurious and wholly without merit."
• Andean intends to vigorously defend against the lawsuit through appropriate legal channels and will provide no further comment while the matter remains pending in court.

Key Details

• Parties Involved: Andean Precious Metals Corp. (TSX: APM, OTCQX: ANPMF) vs. Silver Elephant Mining Corp.
• Legal Action: Formal response to a Notice of Civil Claim filed on June 17, 2026, in Vancouver, BC.
• Core Allegation: Silver Elephant alleges that Andean improperly interfered with its contractual and business relationships.
• Company Stance: Andean denies all allegations, asserts it has conducted all business affairs in accordance with applicable laws and regulatory requirements, and will vigorously oppose the claims through the judicial process.
• Operational Context: The company reaffirms its commitment to safe, responsible, and lawful operations while continuing to focus on creating and enhancing value for stakeholders.