Silver Elephant increases private placement to $735,200

Silver Elephant Mining Corp. (TSX: ELEF) announced it will increase its previously disclosed non-brokered private placement to raise gross proceeds of $735,200, up from the original amount announced on September 4, 2025.

The Vancouver-based mineral exploration company will sell 4,595,000 units at $0.16 per unit. Each unit includes one common share and one warrant allowing the purchase of an additional share at $0.20 for three years from issuance.

Company insiders plan to purchase 1,000,000 units for $160,000. The insider participation constitutes a related party transaction under Multilateral Instrument 61-101, though the company relies on exemptions from formal valuation and minority shareholder approval requirements as insider participation will not exceed 25% of the company's market capitalization fair value.

Finder's fees of up to 7% may be paid in finder's units, each consisting of one common share and one non-transferable warrant exercisable at $0.20 per share for three years.

The securities will be subject to a four-month-plus-one-day regulatory hold period from issuance. Proceeds will be used for general corporate purposes.

The private placement requires approval from the Toronto Stock Exchange. Silver Elephant operates gold and silver exploration projects in Bolivia.

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