Silver Elephant Increases Non-Brokered Private Placement to $825,000
Silver Elephant Increases Non-Brokered Private Placement
to $825,000
Vancouver, British Columbia, February 3, 2026 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt: 1P2) announces that it
has increased the size of its non-brokered private placement (the “ Private Placement ”)
previously announced in its news releases of January 19, 2026 and January 23, 2026, to an
aggregate of up to 3,300,000 units (each, a “Unit”) at a price of $0.25 per Unit, for gross proceeds
of up to $825,000. Each Unit consists of one common share of the Company (each, a “ Share”)
and one share purchase warrant (each, a “ Warrant”), with each Warrant entitling the holder to
purchase one additional Share at a price of $0.32 per Share for a period of three years from the
date of issuance.
Finder’s Fees of up to 7% Finder’s Units may be payable in connection with the Private
Placement. Each Finder’s Unit will consist of one Share and one non-transferable share purchase
warrant, with each warrant entitling the holder to purchase one additional Share of the Company
at a price of $0.32 per share for three years from the date of issuance.
The Company intends to use the net proceeds from the Private Placement primarily for directors’
fees and general working capital purposes.
The securities issued in connection with the Private Placement are subject to a regulatory hold
period of four months plus one day from the date of issue under applicable Canadian securities
laws. The Private Placement is subject to final acceptance by the Toronto Stock Exchange.
Further to the Company’s news release dated January 28, 2026, the Company continues its
efforts to collect amounts owing from Andean Precious Metals Corp. pursuant to the arbitration
award.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company focused on the development of its silver-lead-
zinc project 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 information” and “forward-looking statements”
(collectively, “forward-looking information”) within the meaning of applicable securities laws.
Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,”
“will,” “anticipates,” “intends,” “could”, “estimates”, “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 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
information. Forward-looking information in this news release includes 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; changes 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. Readers 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.