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ELEF.TO ·

Silver Elephant Announces Director Resignation

Management Changes

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Silver Elephant Announces Director Resignation

Vancouver, British Columbia, March 10, 202 3 – Silver Elephant Mining Corp . (“Silver

Elephant” or “the Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt:1P2N) announces that

Masa Igata has tendered his resignation as a director of Silver Elephant to focus his efforts at

Flying Nickel Mining Corp. The Company extends its gratitude to Mr. Igata for his years of service

and wishes him all the best in his future endeavors.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a premier silver mining and exploration company, with its flagship

Pulacayo silver project in Bolivia . It also owns 100% of Mega Thermal Coal Corp and 39% of

Oracle Commodity Holding Corp. (“Oracle”). Oracle has equity and royalty investments in nickel

and vanadium mining companies.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

John Lee

CEO

For more information about Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101

[email protected] / www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined

in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or

accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements and Reader Advisory

Certain statements contained in this or other news release, including, but not limited to, statements with

respect to the debt settlements, the terms of the debt settlements, and the completion of the debt

settlements, among other things, and statements which may contain words such as “expects”, “anticipates”,

“intends”, “plans”, “believes”, “estimates” , “targets” , or simila r expressions, and statements related to

matters which are not historical facts, are forward -looking information within the meaning of applicable

securities laws. Such forward -looking statements, which reflect management’s expectations regarding

either of Silver Elephant’s future growth, results of operations, performance, business prospects and

opportunities, are based on certain factors and assumptions and involve known and unknown risks and

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uncertainties which may cause the actual results, performance, o r achievements to be materially different

from future results, performance, or achievements expressed or implied by such forward -looking

statements.

These factors should be considered carefully, and readers should not place undue reliance on Silver

Elephant’s forward -looking statements. Silver Elephant believe that the expectations reflected in the

forward-looking statements contained in this news release and the documents incorporated by reference

herein are reasonable based on information available to it , but no assurance can be given that these

expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify

important factors that could cause actual actions, events or results to differ materially from those described

in forward looking statements, there may be other factors that cause actions, events or results not to be as

anticipated, estimated or intended. Silver Elephant undertakes no obligation to release publicly any future

revisions to forward-looking statements to reflect events or circumstances after the date of this news or to

reflect the occurrence of unanticipated events, except as expressly required by law.