Silver Elephant Expects June Sale of New Silver Concentrate Batch Ahead of Schedule

About this update from Silver Elephant Mining Corp

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") is pleased to announce that 1,220 tonnes of silver-bearing material, with an average silver grade of 410 g/t Ag[1], has been trucked to the toll-milling facility from the Company's Apuradita Silver Project ("Apuradita") in Bolivia. The silver-bearing material is ready for processing into a third batch of silver concentrate for expected sale in June. Underground mining operations at Apuradita continue at a steady rate. Production has improved following the development of additional mining faces, equipment upgrades, and increased manpower. The Company is advancing additional mining faces through crosscuts and drifts to extract silver-bearing mineralized material from these new areas. The Company currently expects to produce between 400 and 600 tonnes of mineralized material per month in 2026 subject to permitting threshold, with concentrate sales planned on a quarterly basis. As outlined in the news release dated July 8, 2024, silver-mineralized material at Apuradita is being extracted using the shrinkage stoping method. The two stopes are designed with approximate dimensions of 30 meters in length, 20 meters in height, and 4 meters in width, at an extraction rate of 20 to 40 tonnes per day. Historical drilling and internal geological interpretations indicate sulphide mineralization averaging approximately 412 g/t Ag, 1.09% Pb, and 0.38% Zn. (refer to the Company's news release dated July 8, 2024, for the underlying drill hole parameters and supporting technical data under National Instrument 43-101 standards). As announced in the news release dated April 30, 2026, the Company is active in surface sampling situated approximately 20 meters vertically above the Apuradita tunnel system. Sampling of additional mineralized zones that are potentially amenable to open-pit mining is also ongoing. The Company appreciates the continued support from local communities. Qualified Person The technical content of this news release has been prepared under the supervision of Carlos Zamora, a member of the American Institute of Professional Geologists (AIPG) and a Certified Professional Geologist (CPG) since 2024, who is an employee of the Company and is not...

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