Cleantech To Acquire Rights to El Triunfo Gold-Anti mony Project in Bolivia from Silver Elephant
Cleantech To Acquire Rights to El Triunfo Gold-Anti mony
Project in Bolivia from Silver Elephant
VANCOUVER, British Columbia, April 8, 2025 – Silver Elephant Mining Corp. (TSX: ELEF,
OTCQB:SILEF, Frankfurt:1P2) (“ Silver Elephant ”) and CleanTech Vanadium Mining Corp. (TSX-
V: CTV; OTCQB: CTVFF) (“ CleanTech ”) are pleased to announce that they have entered into an
option assignment agreement (the “ Option Assignment Agreement ”) pursuant to which Silver
Elephant proposes to assign its rights in and to an option agreement dated July 10, 2020 (the
“Triunfo Option Agreement ”) pursuant to which, among other things, Silver El ephant has the
right, through a wholly owned subsidiary of Silver Elephant, to acquire 100% of the equity interests
in the capital of Mururata S.R.L. a commercial soci ety existing pursuant to the laws of Bolivia,
which owns certain Bolivian mining rights that comprise the El Triunfo Gold and Antimony Project
(the “ Triunfo Project ”) to CleanTech in consideration for the payment of CAD 155,000 in cash
(the “ Transaction ”).
Closing of the Transaction is subject to the satisf action of certain conditions precedent thereto
including, without limitation, satisfactory complet ion of due diligence in respect of the Triunfo
Project by CleanTech, the receipt of the requisite regulatory and stock exchange approvals by
each of Silver Elephant and CleanTech, and the execution of an amendment to the Triunfo Option
Agreement in form and substance acceptable to Clean Tech. CleanTech has provided Silver
Elephant with a refundable deposit in the amount of $155,000 which such deposit shall be repaid
in the event the Transaction is not completed by December 31, 2025 or if the Option Assignment
Agreement is otherwise terminated.
For purposes of Policy 5.3 of the TSX Venture Excha nge, the Transaction is Non-Arm’s Length
as John Lee is a Director and Chief Executive Offic er of Silver Elephant and CleanTech, Greg
Hall is a Director of Silver Elephant and CleanTech, Andrew Yao is the Chief Financial Officer of
Silver Elephant and CleanTech, Sara Knappe is the C orporate Secretary of Silver Elephant and
CleanTech and Alex Bayer is the Chief Legal Officer of Silver Elephant and CleanTech. Both Mr.
Lee and Mr. Hall declared their interest and abstained from voting on the Transaction.
The Triunfo Project is a Gold-Antimony project located in the Bolivian department of La Paz, about
75km to the east of Bolivia’s capital city of La Pa z and spans an area of approximately 256
hectares.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company with precious metal projects in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com .
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company fo cused on vanadium and critical mineral
resources. The Company owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada,
United States.
Further information on CleanTech can be found at www.cleantechvanadium.com .
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
“John Lee”
CEO and Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
Phone: 1.604.569.3661 ext. 101
www.silverelef.com
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
“Masateru Igata”
Director
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
www.cleantechvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements and Cautionary Disclaime rs
References to $ herein refer to the lawful currency of Canada.
Completion of the Transaction is subject to a number of conditions, including but not limited to, completion
of due diligence by CleanTech, regulatory and stock exchange acceptance, and execution of an
amendment to the Triunfo Option Agreement. Where ap plicable, the Transaction cannot close until the
required approvals are obtained.
There can be no assurance that the Transaction will be completed as proposed or at all. Trading in the
securities of each of Silver Elephant and CleanTech should be considered highly speculative.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange has in any way passed upon the merits
of the Transaction and has neither approved nor disapproved the contents of this news release.
This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction,
nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
This news release contains certain “forward-looking statements” and “forward-looking information” unde r
applicable Canadian and United States securities la ws. Forward-looking statements and forward-looking
information include, but are not limited to, statem ents with respect to the Transaction, the compositi on of
consideration for the Transaction, the terms of the Transaction and the closing of the Transaction (including
the timing thereof), and the ability of each of Sil ver Elephant and CleanTech to obtain the requisite stock
exchange, regulatory and other approvals in connect ion with the Transaction. Except for statements of
historical fact relating to each of Silver Elephant and CleanTech, certain information contained herei n
constitutes forward-looking statements. Forward-looking statements are frequently characterized by words
such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,”
“likely,” “will,” “should,” “to be”, “potential” an d other similar words, or statements that certain e vents or
conditions “may”, “should” or “will” occur, includi ng, without limitation, that all conditions precede nt to the
Transaction will be met and the realization of the anticipated benefits derived therefrom for shareholders of
each of Silver Elephant and CleanTech and perception of (i) the quality and the potential of the Project, (ii)
the consideration offered to CleanTech by Silver El ephant for the Project, and (iii) the potential of each of
Silver Elephant’s and CleanTech’s businesses follow ing completion of the Transaction. Forward-looking
statements are based on the opinions and estimates of management of each of Silver Elephant and
CleanTech at the date the statements are made and a re based on a number of assumptions and subject
to a variety of risks and uncertainties and other f actors that could cause actual events or results to differ
materially from those projected in the forward-look ing statements. Many of these assumptions are based
on factors and events that are not within the control of Silver Elephant and CleanTech, there is no assurance
they will prove to be correct and are not guarantee s of future performance and actual results may diff er
materially from those in the forward-looking statements.
Factors that could cause actual results to vary mat erially from results anticipated by such forward-lo oking
statements include changes in market conditions; cash flow and availability of financing; the ability of each
of Silver Elephant and CleanTech to obtain the requ isite stock exchange, regulatory and other third pa rty
approvals; risks relating to the availability and timeliness of permitting and governmental approvals; supply
of, and demand for metals; fluctuating commodity pr ices and currency exchange rates; the possibility o f
project cost overruns or unanticipated costs and ex penses; labour disputes and other risks of the mini ng
industry.
These factors are discussed in greater detail in CleanTech’s and Silver Elephant’s most recent MD&As filed
on SEDAR+ at www.sedarplus.ca, which also provide a dditional general assumptions in connection with
these statements. Each of Silver Elephant and Clean Tech cautions that the foregoing list of important
factors is not exhaustive. Investors and others who base themselves on forward-looking statements
contained herein should carefully consider the abov e factors as well as the uncertainties they represe nt
and the risk they entail. Each of Silver Elephant and CleanTech believes that the expectations reflected in
those forward-looking statements are reasonable, bu t no assurance can be given that these expectations
will prove to be correct and such forward-looking s tatements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this news release.
Although each of Silver Elephant and CleanTech has attempted to identify important factors that could
cause actual actions, events or results to differ m aterially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not to be anticipated, estimated
or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially f rom those anticipated in such statements. Neither S ilver
Elephant nor CleanTech undertakes any obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise except as required by
applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking
statements. Statements concerning mineral reserve a nd resource estimates may also be deemed to
constitute forward-looking statements to the extent they involve estimates of the mineralization that will be
encountered as the property is developed. Further, each of Silver Elephant and CleanTech may make
changes to its business plans that could affect results.