Silver Elephant Mining Corp. announced t is preparing a drilling program at the Paca silver oxide open-pit deposit, which is part of the Company's 100%-controlled Pulacayo silver-lead- zinc project in Bolivia. This drill program is a follow-up to the successful 2022 drill program, highlighted by PND 123 which was collared at the northern edge of the Paca resource and drilled farther north.

The hole intercepted 27 meters of 159 g/t silver from near-surface, including 1.5 meters of 565 g/t silver. All four step-out holes drilled in 2022 intercepted silver mineralization. They also demonstrated that the northern extension of Paca oxide resource is open to the north and to the northeast.

The proposed 12-hole Paca drill program totals 1,510 meters. Eight drill holes target further expansion to Paca North oxide discovery, based on available drilling, mapping, sampling, and geophysical data. Two drill holes will test the east and west extensions of the Paca main zone.

The two remaining drill holes will test Induced- Polarization anomalies located southeast of the Paca Dome. The Paca deposit contains an indicated 37 million oz of silver and an inferred 6 million oz of silver, much of it regarded as a manto-style deposit. Most of the near-surface mineralization at Paca is classified as an oxide- silver resource containing an indicated 5.9 million oz of silver at 231g/t and an inferred 1.2 million oz of silver at 159g/t. The Paca deposit is 7 kilometers north of the Pulacayo deposit .

It is part of the global Pulacayo resource, which contains an indicated resource of 106.7 million oz of silver, 1.38 billion pounds of zinc, and 690 million pounds of lead and an inferred resource of 13.1 million oz of silver, 123 million pounds of zinc, and 62 million pounds of lead.