Silver Elephant Files Lawsuit Against Andean Precious Metals Over Alleged Interference with Pulacayo-Paca Mining Production Contract

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Vancouver, British Columbia--(Newsfile Corp. - June 17, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant") announces that it has, together with its subsidiaries Apogee Minerals Bolivia S.A. ("Apogee") and ASC Bolivia LDC Sucursal Bolivia ("ASC", and together with Silver Elephant and Apogee, the "Company"), filed a Notice of Civil Claim (the "Claim") in the Supreme Court of British Columbia, against Andean Precious Metals Corp. ("Andean") and three individuals: Federico Gil, Vice President of Legal and Administration of Andean; Juan Carlos Sandoval, Chief Financial Officer of Andean; and Humberto Rada, President of Empresa Minera Manquiri, S.A., Andean's wholly-owned Bolivian subsidiary (together with Andean, the "Defendants"). The Claim arises out of the mining production contract (the "Mining Production Contract") entered into in 2019 between Apogee and Corporación Minera de Bolivia ("COMIBOL"), Bolivia's state-owned mining company, pursuant to which COMIBOL granted Apogee the right to conduct mining activities for 15 years, with a right to extend for a further 15 years, over certain of COMIBOL's mining concessions, including the Temeridad and Real del Monte concessions located in the Municipality of Uyuni, Department of Potosí, Bolivia (the "Pulacayo-Paca Project"). The Pulacayo-Paca Project is estimated to contain an indicated Mineral Resource of 106.7 million oz of silver, 1,384.7 million pounds of zinc, and 693.9 million pounds of lead as disclosed in a technical report by Mercator Geological Services (refer to the Company's news release dated October 13, 2020). The Company has advanced the Pulacayo-Paca Project for over two decades at a cost of over US$30 million to discover and develop this large mineral resource. The Claim alleges that the Defendants, with knowledge of the Mining Production Contract and of the Company's Master Services Agreement and Sales and Purchase Agreement with Andean to acquire oxide materials from the Pulacayo-Paca Project, acted in concert with one another to induce COMIBOL to terminate the Mining Production Contract for the Defendants' commercial benefit and at the Company's expense. As a direct result of this conduct, the Claim alleges that C...

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