Silver Elephant Delivers Over 1,200 Tonnes to Toll Mill and Expects Silver Concentrate Shipment in October 2025

Executive Summary

• Silver Elephant Mining Corp. has begun toll‑milling of silver‑bearing material from its Apuradita Paca Project in Bolivia, with over 1,200 t already delivered to the mill.
• The company signed a concentrate off‑take agreement with a major international buyer; the first shipment is slated for October 2025.
• Near‑term production is forecast at 1,000–1,500 t of silver‑bearing material per month, targeting an initial 10,000 t feed over a six‑month campaign.

Key Details

• Toll‑milling operations have started; >1,200 t of silver‑bearing ore have been shipped to the toll‑mill.
• Concentrate off‑take agreement executed with a major international buyer; first concentrate shipment expected October 2025.
• Monthly production target set at 1,000–1,500 t of mineralized material.
• Internal estimate of ~10,000 t of mineralized feed for the initial six‑month campaign, with potential extension as additional zones are delineated.
• Mining method: shrinkage stoping; two stopes approx. 30 m L × 20 m H × 4 m W.
• Targeted extraction rate: 50–100 t per day.
• Average grade of extracted sulphide material: 412 g/t Ag, 1.09 % Pb, 0.38 % Zn (based on diamond drilling and internal models).
• QA/QC performed by ALS Global Laboratories (Bolivia & Peru) using ISO‑accredited procedures; fire assay with gravimetric finish for silver.

Notable Quotes

“We are thankful for continued support from local communities.” – John Lee, CEO and Executive Chairman

Materiality: Material – Positive (operational commencement and secured off‑take indicate significant positive impact on near‑term cash flow and production outlook).