Silver Elephant to Acquire High-Grade Robinson-Lasher Zinc-Germanium-Gallium Project in Kentucky, 90 Miles from Proposed US$7.4 Billion Korea Zinc Smelter in Tennessee

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Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that it has entered into a binding definitive Asset Purchase Agreement (the "APA") with CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech") dated June 11, 2026 to acquire the Robinson-Lasher zinc-germanium-gallium project (the "Robinson-Lasher Project"), located in the Illinois-Kentucky Fluorspar District ("IKFD") in Livingston County, Kentucky (the "Transaction"), approximately 90 miles north of the planned US$7.4 billion Korea Zinc zinc smelter in Clarksville, Tennessee. The Transaction Terms Subject to the terms and conditions of the APA, Silver Elephant will acquire the Robinson-Lasher Project by: In addition, on or before September 1, 2029, Silver Elephant must incur a minimum of US$2,000,000 in exploration expenditures at the Robinson-Lasher project; and complete an independent technical report prepared by a qualified person. CleanTech through its wholly owned US subsidiary, entered into an option to purchase ("OTP") the Robinson-Lasher Project from an arm's length third party. The OTP terms are detailed in CleanTech's news release dated August 12, 2025. Title to the Robinson-Lasher project will be transferred to Silver Elephant upon CleanTech fulfilling the OTP terms and Silver Elephant fulfilling the Transaction terms. Completion of the Transaction remains subject to a number of conditions, including receipt of all required approvals under applicable securities laws and stock exchange requirements, including any required approval of the Toronto Stock Exchange and the TSX Venture Exchange, including and, as applicable, any required disinterested shareholder approval of each of Silver Elephant and CleanTech. John Lee serves as Chief Executive Officer and a director of both Silver Elephant and CleanTech. Mr. Lee will abstain from board voting in the Transaction. The Robinson-Lasher Project The Robinson-Lasher Project comprises approximately 1,524 acres of mineral rights in Livingston County, Kentucky. Zinc and fluorspar mineralization occurs as bedded and replacement-style mineralization in Mississippian-age carbonate rocks along the Robinson F...

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