Silver Elephant to Start Paca Apuradita Silver Production in May 2025
Silver Elephant to Start Paca Apuradita Silver Production in
May 2025
Vancouver, British Columbia, April 2, 2025 - Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt: 1P2) is pleased to
provide an update on the sulphide mining operation at its Paca Apuradita Silver Project in the
Potosi Department of Bolivia, following its news release dated July 8, 2024. The Apuradita mining
claim (“Apuradita”) is registered under Silver Elep hant’s Bolivia subsidiary with the Bolivian
Jurisdictional Administrative Mining Authority (AJA M). Apuradita is not within the area covered
under the Mining Production Contract dated October 3, 2019, between the Company and the
Corporacion Minera de Bolivia (“Comibol”) which is the subject of ongoing disputes.
In September 2024, the Company started Apuradita tu nnel development to mine high-grade
sulphide material located beneath the oxide layer. The planned 100-tonne-per-day underground
mining operation extracts sulphide material. The mined materials will then be transported to third
party toll mill processing plants.
To date, the Company has dug 111 meters of the 160-meter planned tunnel to reach the sulphide
mineralized zone. The Company is continuing tunnel development at approximate rate of 2.4
meters per day and expects to start silver production by May 2025.
The essential infrastructure is in place to support sulphide mining activities:
The underground transport rail system is fully inst alled and operational, with structural
reinforcements added to ensure stability and prevent derailments.
Logistics infrastructure including rail for the min ecar dump truck loadout area and
locomotive recharging station is complete.
The air compressor system and water utility are ful ly functional, providing air and water
services for drilling, ventilation, and dust control.
Civil works at the tunnel site, including secured storage laydown areas and Truck Haulage
Road are complete.
In conjunction with tunneling, the Company is final izing toll milling and concentrate sales
agreements with concentrate production and sales anticipated to begin in May 2025.
As outlined in the news release dated July 8, 2024, the tunnel will provide access to sulphide
mineralized materials, which will be mined using the shrinkage stoping method. The two stopes
are designed with approximate dimensions of 30 meters in length x 20 meters in height x 4 meters
in width, with a targeted extraction rate of 100 to 150 tonnes per day. The calculated average
grade of extracted and sorted sulfide materials is 412 g/t Ag, 1.09% Pb, and 0.38% Zn, based on
diamond drill holes at Apuradita and an internally developed mine model.
Several examples of high-grade intercepts within the Apuradita mineralized zone include:
Hole ID From To Length True Width Ag Pb Zn
(m) (m) (m) (m) (g/t) (%) (%)
PND004 86.0 97.0 11.0 7.8 481.0 0.5 0.2
PND008 47.0 63.0 16.0 11.3 507.0 1.1 0.6
PND008 111.9 127.0 15.1 10.7 424.0 2.0 2.7
PND023 125.0 157.0 32.0 26.2 437.0 1.7 1.0
PND092 38.0 52.0 14.0 9.9 522.0 0.8 0.1
PND110 61.0 72.0 11.0 7.8 715.0 2.1 2.1
The full drill hole assay results have previously been released on SEDAR.
The assumptions set out above are based on a resource estimate at Apuradita that is not reserve.
Mineral resources that are not mineral reserves hav e not demonstrated economic viability and
therefore should not be relied upon.
Potosi Region
Potosi town district hosts the Cerro Rico silver deposit and is home to about 100 privately owned,
small-sized processing facilities (ranging from 50 to 500 tonnes per day capacity) that produce
zinc and lead concentrates sold to many active comm odity traders. Potosi department is one of
the most active silver producing regions in the wor ld. Majority of Bolivia’s annual 40 million oz
silver production came from Potosi department.
Qualified Person
The technical contents of this news release have been prepared under the supervision of Carlos
Zamora, who is an employee of the Company and is not considered independent. Mr. Zamora is
a qualified person as defined by National Instrument 43-101.
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 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, but not limited to the
anticipated start and end dates for the sulphide mi ning, mining 100 tonnes of sulphide material,
the anticipated total tonnes to be extracted, the a bility to sell the sulphides to toll mills, the
anticipated timing to enter into commercial agreeme nts with toll millers, the anticipated mining
methods and the anticipated average grade of extracted the sulphide material.
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; commodity price variation; and general market, industry and economic conditions.
Additional risk factors are set out in the Company’ s latest annual and interim management’s
discussion 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.