El Triunfo Grab Samples Assayed And Drilling At Pulacayo Continues

VANCOUVER - Silver Elephant Mining Corp. reported the ongoing exploration at both the Pulacayo silver project and the El Triunfo gold-silver project in Bolivia are yielding encouraging results. At the Pulacayo District Exploration the Company has drilled 1,972 meters of its announced 2,000m drill program. Drilling has been completed at El Abra, Veta Quattro, and Pacamayo prospects identified through mapping and 2021 IP survey at Pulacayo District. These are distant unexplored targets located up to 1km from the Pulacayo Tajo Vein System ("TVS") whereat all of the historic production of 678 Moz occurred as reported by the National Geological and Mineral Service of Bolivia.

Drilling at Pacamayo (1km north of the NI-43 101 Pulacayo resource that is upper part of TVS) has confirmed visual concentrations of galena, tetrahedrite and sphalerite between 490 to 560 meters depth matching a high IP chargeability, which extends beyond a depth of 500 meters and exceeds the IP depth detection limit.

The Company is currently drilling PUD 293 at the Pero area about 500 meters south of Pulacayo resource where an IP anomaly is detected at a depth between 250 to 500 meters. PUD293 is located 300 meters southwest of PUD286 (also outside of Pulacayo Resource) which intercepted 4meters of 393 g/t Ag, 3.79% Zn, 0.88%Pb at 148-meter downhole. The IP target for PUD 293 corresponds favorably to a mapped structure that strikes westward from PUD 286.

All prior Pulacayo drilling focused primarily on upper part of Pulacayo TVS and the Paca satellite deposit (7km north of TVS) which define the Pulacayo resource of an Indicated mineral category of 106.7 million oz of silver, 1,384.7 million pounds of zinc, and 693.9 million pounds of lead. The Indicated Pulacayo resource is 48 million tonnes grading 69g/t silver, 1.3% zinc, 0.7% lead based on over 100,000 meters of drilling. The resource calculation was completed by Mercator Geotechnical Services.

At the El Triunfo project, Silver Elephant has completed a 30 line-km IP survey at its El Triunfo project and has identified several IP anomalies. Of particular interest is an anomaly that extends 200m east of the artisanal workings where all prior exploration and drilling occurred. The east anomaly measures 50 to 75m wide, and 200m along strike and appears to be 100 to 200 meters from surface. This anomaly is open to the east as the Company ground crew compiles remaining data to determine its full dimensions. This east anomaly has never been drilled and exhibits the same IP signature as prior drilled areas beneath the artisanal workings to the west. Significant prior drill results at El Triunfo west.