Business
Silver Elephant Receives Favorable Arbitration Award in Dispute with Andean Precious Metals
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that it has received a favorable arbitration award in its dispute with Andean Precious Metals Corp. ("Andean") arising from a contractual dispute under the parties' Master Services Agreement ("MSA") and related sales and purchase agreement executed on September 11, 2023. As previously disclosed in its news release...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - January 28, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that it has received a favorable arbitration award in its dispute with Andean Precious Metals Corp. ("Andean") arising from a contractual dispute under the parties' Master Services Agreement ("MSA") and related sales and purchase agreement executed on September 11, 2023. As previously disclosed in its news release dated February 27, 2025, Silver Elephant delivered a dispute notice to Andean under the MSA, which led to the commencement of the arbitration proceedings.","length":701,"tagName":"p"},{"type":"text","content":"Pursuant to the binding decision, the arbitrator found that Andean breached the MSA by failing to pay additional consideration owing to Silver Elephant and ordered Andean to pay Silver Elephant USD 1.0 million (the "Additional Consideration"), together with pre-judgment interest of approximately USD 36,077.37, compounded monthly from December 18, 2024 to the date of the award.","length":389,"tagName":"p"},{"type":"text","content":"In her 88-page award dated January 26, 2026, the arbitrator rejected all of Andean's counterclaims, including allegations that Silver Elephant wrongfully terminated the MSA, as asserted in Andean's news release dated December 31, 2024.The arbitrator further found that Silver Elephant did not engage in any illegal mining activities, as alleged by Andean and by Corporación Minera de Bolivia ("COMIBOL"), as detailed in the Company's news release dated December 31, 2024.","length":493,"tagName":"p"},{"type":"text","content":"The arbitrator further ordered that USD 274,553.55 in respect of a security deposit advanced by Andean in 2024 be set off against the Additional Consideration payable to Silver Elephant. This set-off amount is consistent with Silver Elephant's calculations and results in a substantial net recovery to the Company. The outcome is well received by Silver Elephant.","length":367,"tagName":"p"},{"type":"text","content":"Separately, the Company is evaluating further claims against Andean in connection with Andean's ongoing mining activities in the Paca area, which forms a core part of the Mining Production Con...