Silver Elephant receives US$1.4 million from Apuradita silver concentrate sales

Vancouver, British Columbia--(Newsfile Corp. - August 21, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the " Company") is pleased to report a significant milestone at its Apuradita silver project ("Apuradita") in Bolivia. The Company has now produced and sold three batches of silver-lead concentrate from Apuradita in 2026, resulting in cash proceeds of approximately US$1.4 million.

Highlights

Feed for the three concentrate batches totalled 4,547 tonnes of silver-bearing mineralized material delivered from Apuradita mining operation to the toll milling facility, at a weighted average grade of 297 grams per tonne silver and 0.9% lead. Feed for the first batch was 1,223 tonnes grading 250 grams per tonne silver and 0.7% lead, and feed for the second batch was 1,845 tonnes grading 248 grams per tonne silver and 0.8% lead. Feed for the third batch was 1,479 tonnes grading 396 grams per tonne silver and 1.2% lead.

Three silver-lead concentrate batches were produced by toll milling totaling 84.7 dry tonnes of concentrate containing 24,538 ounces of silver and 20 tonnes of lead metal.

Silver concentrate grade has increased with each successive batch, from 5,916 grams per tonne silver in the first batch to 11,577 grams per tonne silver in the third, with lead grade also increasing from 14.4% to 31%.

Approximate cash proceeds from the three batches of concentrate sales total US$1.4 million with estimated cash flow margin of 35% accounting for direct operating costs and capital expenditure at Apuradita. [1]

A fourth concentrate batch is in preparation, with mineralized material being stockpiled at the Apuradita project site for delivery to the toll milling facility in October.

Concentrate Production to Date

Table 1. Concentrate produced and sold by batch

* Values are provisional and subject to final