Silver Elephant Updates on Arbitration Proceedings Against Andean Precious Metals to Collect US$1,000,000 Plus Fees

Executive Summary

• Silver Elephant Mining Corp. completed the five‑day arbitration hearing (Nov 3‑7, 2025) against Andean Precious Metals Corp. regarding a US$1 million unpaid consideration under its Master Services Agreement and Sales & Purchase Agreement.
• The arbitrator has instructed both parties to submit closing and cost statements by Nov 21, 2025; a final award is expected before the end of 2025.
• Silver Elephant maintains that all conditions for payment were satisfied and is seeking the principal amount plus accrued interest and legal costs.

Key Details

• Arbitration Background: Andean failed to remit US$1,000,000 Additional Consideration after silver price averaged > US$28/oz for 260 trading days (triggered Dec 18, 2024).
• Termination: Silver Elephant terminated the MSA and SPA on Dec 31, 2024 and commenced arbitration on Jan 14, 2025.
• Hearing Dates & Location: November 3‑7, 2025 in Vancouver, British Columbia.
• Relief Sought: Payment of US$1,000,000 plus accrued interest and legal costs.
• Arbitrator Instructions: Closing and cost submissions due by Nov 21, 2025; final decision expected before year‑end 2025.
• Company Position: All contractual conditions for the Additional Consideration have been met.

Notable Quotes

• “The Company maintains the position that all conditions (pursuant to the MSA and SPA) that triggered the Additional Consideration payment have been met.” – John Lee, CEO and Executive Chairman.