Silver Elephant increases private placement to $825,000

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) announced it has increased the size of its non-brokered private placement to 3,300,000 units at $0.25 per unit, raising gross proceeds of up to $825,000.

Each unit consists of one common share and one share purchase warrant. The warrants allow holders to purchase additional shares at $0.32 per share for three years from the issuance date.

The company may pay finder's fees of up to 7% in finder's units. Each finder's unit includes one share and one non-transferable warrant with the same $0.32 exercise price and three-year term.

Silver Elephant plans to use the net proceeds primarily for directors' fees and general working capital purposes. The securities are subject to a four-month plus one-day regulatory hold period under Canadian securities laws.

The private placement requires final acceptance by the Toronto Stock Exchange. This represents an increase from the company's previously announced private placement disclosed in news releases dated January 19, 2026 and January 23, 2026.

The company also noted it continues efforts to collect amounts owed from Andean Precious Metals Corp. pursuant to an arbitration award, as referenced in a January 28, 2026 news release.

Silver Elephant is a mineral exploration company focused on developing its silver-lead-zinc project in Bolivia.

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