Silver Elephant Channel Sampling Returns 539 g/t Silver Over 10 Meters at Apuradita

Silver Elephant Mining Corp. (ELEF) announced channel sampling results from its underground Apuradita project in Bolivia, returning a length-weighted average grade of 539 g/t Ag over a continuous 10.0-meter interval. The company also reported the production of its third batch of silver concentrate via toll milling, totaling approximately 32 tonnes with an average grade of 12,168 g/t Ag.

Management outlined production plans to extract 400 to 600 tonnes of mineralized material per month during 2026 and 2027 using shrinkage stoping. The release explicitly notes that no mineral reserves have been established and the production decision is not based on a feasibility study.

Regarding quality assurance and quality control, samples were analyzed at a company-owned, non-accredited lab (APOGEE Pulacayo), with no certified reference materials (CRMs), blanks, or duplicate samples inserted during preliminary sampling. Selected samples were sent to SpectroLab for check assaying. The Qualified Person, Carlos Zamora, is an employee of the company.

Silver Elephant Mining Corp. (ELEF) reported that channel sampling has confirmed high-grade continuity in its underground workings, a development that supports the company's stated production targets and validates ongoing metallurgical forecasts. Additionally, the production of a third concentrate batch ahead of schedule demonstrates operational execution and the marketability of the product.

However, the reliability of the assay results is tempered by the lack of independent QA/QC protocols, specifically the absence of certified reference materials (CRMs), blanks, or duplicates, as well as the use of a company-owned, non-accredited lab for preliminary sampling. Furthermore, the absence of NI 43-101 compliant reserves means the 400-600 t/month production target remains conceptual and subject to change. This news is incremental to previous production updates and does not represent a fundamental shift in the company's risk profile or valuation.

Silver Elephant Mining Corp. is a mineral exploration and production company focused on precious and base metals. Its flagship asset is the Apuradita Silver Project in Bolivia, where the company is actively mining underground via shrinkage stoping and toll milling silver-lead-zinc concentrate.

Other assets include the Pulacayo Project in Bolivia, which is subject to litigation; the Robinson-Lasher zinc-germanium-gallium project in Kentucky, USA; and the Ulaan Ovoo coal mine in Mongolia, which is leased to a third party. The company is in the production and exploration stage, with no history of profitable mineral production and no NI 43-101 reserves.