Vancouver, British Columbia--(Newsfile Corp. - July 7, 2023) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQX: SILEF) (FSE: 1P2N) ("Silver Elephant" or "the Company") advises that it is delayed in filing the Company's annual financial statements for the 15 months ended, March 31, 2023, the corresponding management's discussion and analysis, the annual information form, and the related officer certifications of the annual filings for the 15 months ended March 31, 2023 (collectively, the "2023 Annual Financial Filings") with a filing deadline of June 29, 2023 (the "Filing Deadline"). As a result, the Company has received a cease trade order (the "CTO") from the British Columbia Securities Commission.

The Company is diligently working with its auditors to finalize the 2023 Annual Financial Filings, which the Company expects to be completed soon. Once the 2023 Annual Financial Filings are filed, the Company will seek to have the CTO revoked.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a premier silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

John Lee
CEO

For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com /