Cleantech Acquires Rights to El Triunfo Gold-Antimony Project in Bolivia from Silver Elephant

Executive Summary

• Silver Elephant Mining Corp. assigned its option to acquire 100% of the Triunfo Gold and Antimony Project in Bolivia to CleanTech Vanadium Mining Corp., closing the transaction for CAD 155,000 cash.
• The parties are related‑party entities under MI 61‑101; CleanTech will rely on exemption from formal valuation and minority‑shareholder approval because the consideration is <25% of its market capitalization.
• The transaction completes a prior option agreement dated July 10 2020 and follows an earlier joint press release (April 8 2025).

Key Details

• Transaction Structure: Option assignment – Silver Elephant transferred its rights under a July 10 2020 option agreement to CleanTech.
• Consideration Paid: CAD 155,000 cash paid by CleanTech to Silver Elephant.
• Asset Transferred: Rights to acquire 100% of Mururata S.R.L., the holder of mining rights for the El Triunfo Gold and Antimony Project (≈256 ha) in La Paz Department, Bolivia.
• Related‑Party Status:
• Oracle Commodity Holding Corp. holds 42,799,502 CleanTech shares (control person).
• Silver Elephant controls Oracle via 28,793,110 Oracle shares (control person).
• Regulatory Exemption: CleanTech qualifies for MI 61‑101 exemption; fair market value of CAD 155k is <25% of CleanTech’s market cap (~$6.45 M based on $0.045/share, 143,376,716 shares outstanding as of Aug 5 2025).
• Prior Announcement: The parties previously announced the pending transaction in a joint press release dated April 8 2025.

Notable Quotes

• John Lee, CEO & Executive Chairman, Silver Elephant Mining Corp.: “We are pleased to finalize this option assignment, advancing the development of the Triunfo Project under CleanTech’s stewardship.”
• Masateru Igata, Director, CleanTech Vanadium Mining Corp.: “Acquiring the Triunfo Project aligns with our strategy to expand critical and precious metal assets in South America.”