Silver Elephant intercepts 539 g/t Ag over 10 m at Apuradita

Vancouver, British Columbia--(Newsfile Corp. - July 27, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the " Company") announces the discovery of a new high-grade silver-bearing mineralized zone in the underground workings of the Company's Apuradita silver project in Bolivia. Underground Channel Sampling Channel sampling returned a length-weighted average grade of 539 g/t Ag over a continuous 10.0-meter interval in the main development drift of the Apuradita underground workings at an elevation of 4,216 meters above sea level and approximately 21 meters below the surface. The interval comprises five consecutive channel samples, each 2.0 meters in length.

The drift is oriented at an azimuth of 210°, and sampling commenced at UTM coordinates 739,979 mE / 7,750,293 mN (WGS84, Zone 19S). The individual sample results are summarized in Table 1. Mineralization occurs as discontinuous, lens-shaped bodies whose geometry and orientation have not yet been fully defined.

The relationship between the reported sample interval and the true thickness of mineralization has therefore not been established, and the true thickness of the reported interval is unknown. Table 1. Channel Sampling Results Channel samples were collected from underground workings at the Apuradita project and analyzed at the Company's internal APOGEE Pulacayo Laboratory.

The APOGEE Pulacayo Laboratory is owned and operated by the Company and is used exclusively for operational and exploration support; it is not an ISO/IEC 17025 accredited analytical laboratory. The mineralization is interpreted to have formed by supergene oxidation developed downward from the surface along the host structure. On this basis, the Company's current geological model indicates the mineralized zone remains open up-dip and has the potential to continue toward the surface.

The continuity of oxid