Silver Elephant Reports 350 Grams Per Ton Germanium and 28% Zinc over 6.6 feet in Historic Drill Assays at the Kentucky Robinson-Lasher Project, 90 Miles from Proposed US$7.4 Billion Smelter in Tennessee

Silver Elephant Mining Corp. (ELEF) has reported historical drill assays from 2008 for the Robinson-Lasher project in Kentucky, a newly acquired metal-volcanogenic-type (MVT) zinc-germanium-gallium target.

Key intercepts from the historical data include:

• Hole DXHR-01: 81.4 ft (24.8 m) grading ~11.2% Zinc and ~114 g/t Germanium; includes a 5.0-ft interval at 32.63% Zn & 220 g/t Ge.
• Hole DXHR-03: 16.0 ft (4.9 m) grading ~13.4% Zinc and ~199 g/t Germanium; includes a 6.6-ft interval at 28.12% Zn & 350 g/t Ge.

The company cited peak values of 350 g/t Ge and 20 g/t Ga. While Silver Elephant plans a verification program, no new drilling or assays are currently provided. The project is located 90 miles from a proposed US$7.4B Korea Zinc smelter, planned for 2029, which could consume the concentrate.

Silver Elephant Mining Corp. (ELEF) released historical grade data on July 6, adding context to the acquisition of the Robinson-Lasher project, which was originally announced on June 12, 2026. Since that initial announcement, the stock moved from C$0.12 to C$0.16 before drifting back to the C$0.12–C$0.14 range. The latest release does not include a resource estimate, an economic study, or verification of the data.

The company’s financials indicate it is a serial diluter, with cash on hand of $237k, negative working capital, and a history of constantly raising sub-$1M rounds. With a market cap of approximately C$6.8M and negative equity, the Robinson-Lasher project remains an early-stage option. While news of high grades can spark speculative volume for junior explorers, the lack of verified data means the release serves primarily as promotional material. The market has already priced in the potential of the acquisition, albeit pessimistically.

The historical results are not NI 43-101 compliant and do not advance the project beyond the initial acquisition hype. Consequently, there is no material impact on the company’s net asset value or near-term prospects.

Silver Elephant Mining Corp. is a TSX-listed junior with a portfolio of exploration and small-scale production assets, including the Pulacayo-Paca silver-zinc-lead project in Bolivia, where it is producing small volumes of concentrate via toll-milling. The company also holds the newly optioned Robinson-Lasher zinc-germanium project in Kentucky, a coal lease in Mongolia, and various other early-stage properties. It currently has no NI 43-101-compliant reserves. Management has a history of spinning out assets and related-party transactions, such as CleanTech and Oracle Commodity. The company’s financial condition is precarious, characterized by negative equity, minimal cash, and continuous dilutive placements at ever-lower share prices.