Silver Elephant Updates on Arbitration Proceedings Against Andean Precious Metals to Collect US$1,000,000 Plus Fees

Core Points - Silver Elephant Mining Corp. is involved in arbitration proceedings against Andean Precious Metals Corp. to collect US$1,000,000 plus fees [1][2] - The arbitration hearing took place from November 3 to 7, 2025, in Vancouver, British Columbia [3] - The company claims that all conditions for the Additional Consideration payment have been met as per the Master Services Agreement and Sales and Purchase Agreement [3] Summary by Sections Arbitration Details - The arbitration case is due to Andean's failure to pay the Additional Consideration of US$1,000,000, which was triggered after the silver price averaged above US$28/oz for 260 trading days [2] - Silver Elephant terminated the Master Services Agreement and Sales and Purchase Agreement on December 31, 2024, after Andean failed to make the payment within the contractual cure period [2] Hearing Outcome - Following the hearing, the arbitrator has requested both parties to submit their closing and costs submissions by November 21, 2025 [4] - The arbitrator is expected to render a final decision before the end of 2025 [4] Company Background - Silver Elephant Mining Corp. is a mineral exploration company with gold and silver projects located in Bolivia [5]