(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) (" Silver Elephant " or the " Company ") is pleased to announce a non-brokered private placement (the " Private Placement ") to raise gross proceeds of $375,000 through the sale of 1,500,000 units (the " Units ") at a price of $0.25 per unit. Each Unit consists of one common share of the Company (each, a " Share ") and one share purchase warrant with each warrant (each, a " Warrant ") entitling the holder to purchase one additional Share at a price of $0.30 per Share for a period of three years from issuance.

Finder's Fees of up to 7% Finder's Units will be payable. Each Finder's Unit will consist of one Share and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.30 per share for three years.

Certain directors and officers of the Company are expected to be subscribing for up to 600,000 Units for gross proceeds of up to $150,000. Such participation will be considered to be a "related party transaction" as defined under Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be acquired by the participating directors and officers nor the consideration to be paid by such directors and officers is anticipated to exceed 25 percent of the Company's market capitalization.

The securities issued under the Private Placement will be subject to a regulatory hold period of four months plus one day from the date of issue. The Company intends to use the net proceeds from the Private Placement primarily for general working capital purposes.

The Private Placement is subject to approval by the Toronto Stock Exchange.

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 .

SILVER ELEPHANT MINING CORP.

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