Silver Elephant Delivers Additional 3,150 Tonnes of Coal to China from its Ulaan Ovoo Mine in Mongolia

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Silver Elephant Delivers Additional 3,150 Tonnes of Coal

to China from its Ulaan Ovoo Mine in Mongolia

Vancouver, British Columbia, April 27, 2023 – Silver Elephant Mining Corp. (“Silver

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

that, further to its news release dated March 21, 2023, Another rail shipment totaling 3,150

tonnes of coal has departed for China from the Ulaan Ovoo mine owned and operated by Mega

Thermal Coal Corp. in Mongolia.

Mega Thermal Coal Corp. is a wholly-owned subsidiary of Silver Elephant.

Further information on Mega Coal Thermal Coal Corp. can be found at www.megacoal.ca.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a premier silver mining and exploration com pany, with its

flagship Pulacayo-Paca silver project in Bolivia. It also owns 100% of Mega Thermal Coal Corp.

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 similar expressions, and statements

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

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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 uncertainties which may cause the actual results, performance, or achievements to be

materially different from future results, performance, or achievements expressed or implied by such

forward-looking statements.

These factors should be consid ered 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 incorpor ated 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 obli gation 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.