Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement raising Gross Proceeds of $445,411
Silver Elephant Closes Second and Final Tranche of
Non-Brokered Private Placement raising Gross
Proceeds of $445,411
Not for distribution to the United States Newswire Services or For Dissemination,
Distribution, Release or Publication, Directly or Indirectly into the United States
Vancouver, British Columbia, October 15, 2025 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “ Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt:1P2) announces that,
further to its news release dated September 4, 2025 and September 17, 2025, it has closed the
second and final tranche of its non-brokered private placement (the “Private Placement”) raising
gross proceeds of $445,411 through the sale of 2,78 3,824 units (the “Units”) at a price of $0.16
per unit. Each Unit consists of one common share o f the Company (a “Share”) and one share
purchase warrant (a “Warrant”) with each warrant entitling the holder to purchase one additional
Share at a price of $0.20 per Share for a period of three years from issuance.
Finder’s Fees of 145,250 Finder’s Units were paid with each Finder’s Unit consisting of one Share
and one Warrant.
John Lee, a Director of the Company subscribed for 193,750 Units for gross proceeds of $31,000.
The issuance of Units to Mr. Lee is considered a related party transactions within the meaning of
Multilateral Instrument 61-101 – Protection of Mino rity Security Holders in Special Transactions
(“MI 61-101”). The Company relied on exemptions fr om the formal valuation and minority
shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the
basis that Mr. Lee’s participation in the Private Placement did not exceed 25% of the fair market
value of the Company’s market capitalization. The Company will file a material change report in
respect of the related party transaction.
The securities issued under the Private Placement w ill be subject to a regulatory hold period of
four months plus one day from the date of issue. Proceeds of the Private Placement are expected
to be used for general corporate purposes.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the Units in any jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to the registration or qualification under the securities laws of that jurisdiction.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company with gold and silver projects in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.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:
+1.604.569.3661
www.silverelef.com
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking informa tion” and “forward-looking statements”
(collectively, “forward-looking information”) withi n the meaning of applicable securities laws.
Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,”
“will,” “anticipates,” “intends,” “could”, “estimat es”, “expects”, “forecasts”, “projects” and similar
expressions, and the negative of such expressions. Such forward-looking information, which
reflects management’s expectations regarding Silver Elephant’s future growth, results of
operations, performance, business prospects and opportunities, is based on certain factors and
assumptions and involves known and unknown risks an d uncertainties which may cause the
actual results, performance, or achievements to be materially different from future results,
performance, or achievements expressed or implied b y such forward-looking information.
Forward-looking information in this news release in cludes the use of proceeds raised from the
Private Placement.
Forward-looking statements involve significant risks and uncertainties, and should not be read as
guarantees of future performance, events or results, and may not be indicative of whether such
events or results will actually be achieved. A number of risks and other factors could cause actual
results to differ materially from expected results discussed in the forward-looking statements,
including but not limited to: market conditions; ch anges in business plans; ability to secure
sufficient financing to advance the Company’s mining projects; and general economic conditions.
Additional risk factors about the Company are set out in its latest annual and interim management’s
discussion and analysis and annual information form available under the Company’s profile on
SEDAR at www.sedarplus.ca.
Forward-looking information is based on reasonable assumptions by management as of the date
of this news release, and there can be no assurance that actual results will be consistent with any
forward-looking information included herein. Reader s are cautioned that all forward-looking
statements in this news release are made as of the date of this news release. The Company
undertakes no obligation to update or revise any forward-looking information in this news release
to reflect circumstances or events that occur after the date of this news release, except as required
by applicable securities laws.