Silver Elephant Mining Corp. announced initial diamond drill results from the Company's 100%-controlled El Triunfo gold-silver project located 75 km east of La Paz city, Bolivia. Five holes totaling 1,500 meters are underway to test induced polarization ("IP") geophysical anomalies discovered in 2021.

TR009 encountered separate intersections of 14 meters of 2.5 g/t AuEq (0.8 g/t Au, 65 g/t Ag, 1.74% Pb, 1.44% Zn), 2 meters of 2.7 AuEq (0.2 g/t Au, 211 g/t Ag, 0.84% Pb, 0.24% Zn), and 4 meters of 2.6 g/t AuEq (2.4 g/t Au, 12.9 g/t Ag, 0.19% Pb, and 0.04% Zn) within 247 meters grading 0.4 AuEq, starting from 3 meters downhole. TR010 encountered 1.2 meters of 7.7 g/t AuEq (2.4 g/t Au, 61 g/t Ag, 10.80% Pb, 2.98% Zn), 1 meter of 2.7 g/t AuEq (1.8 g/t Au, 27 g/t Ag, 0.81% Pb, and 1.25% Zn) within 45 meters grading 0.7 AuEq, starting from 7 meters downhole. TR009 and TR010 were drilled at eastern and western edges of the Triunfo West block and successfully expanded the mineralized width and open up the exploration prospects immediately west of the TWB.

The TWB (featuring a strike length of 750 meters) is where Company's maiden drill program in 2020 and artisanal mining took place. The maiden program included hole TR007 with 98.9 meters of 1 g/t AuEq (0.4g/t Au, 23 g/t Ag, 0.74% Zn, 0.58% Pb (see Company's press release dated November 25, 2020)). TR011, -012, -013 are drilled at wide spacing at the Triunfo East block ("TEB"), a 1.5 kilometer extension to the TWB that is separated by a fault that resulted in this area being previously unexplored until recently.

The Company is currently drilling the final hole, TR013, of this program, and waiting for assay results for TR011 and TR012 expected in April. If the TEB drilling discovers mineralization, when combined with TWB, the total Triunfo project mineralized strike length will triple to 2.3-kilometers, greatly enhancing the project's potential. Summaries of each hole and their target rationale are provided in the discussion below.

TR009 was collared 55 meters north of TR006 (36 meters 0.97 g/t AuEq) from Company's maiden drilling program in 2020. TR009 was drilled southward into the eastern edge of the TWB and increased the width of known mineralization. The 55-meter step-back was rationalized based on geological mapping that was completed in 2021 that identified wider zonation of host-rocks for the project's mineralization, and also delineated the bounding structures to the main hanging wall and footwall bedrock.

The hole tested drilling from the bounding structure into the host-rock and encountered near-surface continuous mineralization, as well as numerous high-grade gold-bearing zones across these host-rocks. TR010 was based on a concept similar to TR009 (i.e. proposed drilling based on geological mapping to determine bounding structures), collaring 160m north-northeast of the previously drilled TR004 (3 meters of 1.16 g/t Au) and drilled from the northside hanging wall contact to the south, located at the western edge of the TWB. TR010 confirms that mineralization does extend westward.

Prior drilling in this area was from the south to the north (TR004) which did not encounter mineralization. Geological mapping suggests that TR004 was drilled subparallel to the main structure and therefore did not properly intercept the main host-rocks. The results of TR010 show that this zone does continue to the west, leaving the TWB open in this direction.