Mr. John Lee reports

SILVER ELEPHANT TERMINATES MINING SERVICES AGREEMENT WITH ANDEAN PRECIOUS METALS CORP.

Silver Elephant Mining Corp. has terminated a mining services agreement (MSA) and a related sale and purchase of Paca Materials agreement (SPA) with Andean Precious Metals Corp. and its related parties for Andean's failure to fulfill its payment obligations.

The MSA and SPA were signed on Sept. 11, 2023, and detailed in the company's news release dated Sept. 12, 2023.

The company terminated the MSA and SPA after Andean failed to pay $1-million (U.S.) which was due on Dec. 18, 2024, and the related cure period 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 with the Paca silver project and the Triunfo gold project in Bolivia.

We seek Safe Harbor.