Silver Elephant Terminates Management Services Agreement with Andean Precious Metals Corp.
Silver Elephant Terminates Management Services
Agreement with Andean Precious Metals Corp.
Vancouver, British Columbia, December 31, 2024 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt: 1P2) announces that it
has terminated a Mining Services Agreement (“MSA”) and a related Sale and Purchase of Paca
Materials agreement (the “SPA”) with Andean Preciou s Metals Corp. and its related parties,
(“Andean”) for Andean’s failure to fulfill its payment obligations.
The MSA and SPA were signed on September 11, 2023 a nd detailed in the Company news
release dated September 12, 2023.
The Company terminated the MSA and SPA after Andean failed to pay US$1,000,000 which was
due on December 18, 2024 and the related cure perio d lapsed. Operations relating to the MSA
and SPA have since then stopped.
The Company is preparing appropriate steps to collect the payment due from Andean under the
MSA and SPA.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company wi th the Paca silver project and Triunfo gold
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 ext. 101
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 and other news releases includes the ability of the Company
to enforce the payment obligations under the MSA and SPA.
Forward-looking information involves significant risks and uncertainties, should not be read as a
guarantee 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 information,
including but not limited to: changes in operating plans; ability to secure sufficient financing to
advance the Company’s project; conditions impacting the Company’s ability to mine at the project,
such as unfavourable weather conditions, developmen t of a mine plan, maintaining existing
permits and receiving any new permits required for the project, and other conditions impacting
mining generally; maintaining cordial business rela tions with strategic partners and contractual
counter-parties; meeting regulatory requirements and changes thereto; risks inherent to mineral
resource estimation, including uncertainty as to wh ether mineral resources will be further
developed into mineral reserves; political risk in the jurisdictions where the Company’s projects
are located, the risks and uncertainties relating t o potential litigation; commodity price variation;
and general market, industry and economic condition s. Additional risk factors are set out in the
Company’s latest annual and interim management’s di scussion and analysis and annual
information form (AIF), available 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.