Silver Elephant Commences Drilling at its El Triunfo Gold-Silver Project, Bolivia

Vancouver - Silver Elephant Mining Corp. ('Silver Elephant' or the 'Company') (TSX: ELEF, OTCQX: SILED, Frankfurt: 1P2N) announces that it has commenced a 1,500 meter drilling program on its El Triunfo Gold-Silver Project, located approximately 75 kilometers east of La Paz, Bolivia.

The program will probe several prospective induced polarisation ('IP') geophysical anomalies detected in late 2021 ('Triunfo East'). The IP anomalies are coincident with surface Au-Ag mineralization that was observed during a geological mapping field program in early 2021.

The drilling program is a follow-up to the Company's maiden drill program in 2020 where three of the four wide-spaced diamond drill holes intercepted mineralization, starting from surface across a 750 meter mineralized trend ('Triunfo West'). Triunfo West is where artisanal mining and all prior drilling had occurred, including TR007, which encountered 98.9 meters of 1 g/t AuEq (0.4g/t Au, 23 g/t Ag, 0.74% Zn, 0.58% Pb.

Triunfo East, the primary focus of the Company's current drill campaign, is a 2.2 kilometer extension to Triunfo West, and is separated by a fault that resulted in this area being overlooked and unexplored until now. Triunfo East has never been mined or drilled and has returned high-grade gold surface samples, which bears similar geological traits as Triunfo West.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration, and owns 39% of Battery Metals Royalties Corp.

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Web: www.silverelef.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as 'expects', 'anticipates', 'intends', 'plans', 'believes', 'estimates', or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Silver Elephant's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Silver Elephant's forward-looking statements. Silver Elephant believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Silver Elephant undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

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