Silver Elephant Announces Favorable Tax Tribunal Ruling in Mongolia

Core Viewpoint - Silver Elephant Mining Corp. has successfully dismissed a supplementary tax assessment from the Mongolian tax authorities, which alleged a total of MNT 63.8 billion (approximately CAD 24.6 million) in taxes and penalties against its subsidiary, Redhill Mongolian LLC [2][3]. Group 1: Tax Assessment Details - The supplementary tax assessment was issued on September 11, 2024, and was related to corporate income tax, value-added tax, and associated penalties stemming from the company's internal restructuring of its Mongolian subsidiaries in 2021 [2]. - Following a hearing on January 23, 2026, the Mongolian Tax Tribunal ruled in favor of Redhill, dismissing the tax assessment entirely [3]. Group 2: Tribunal Decision - The Tribunal's decision is final, and the official written decision is expected to be delivered in February 2026 [3]. - The cancellation of the tax assessment is a significant outcome for Silver Elephant, alleviating potential financial burdens related to the alleged tax liabilities [3]. Group 3: Company Overview - Silver Elephant Mining Corp. is focused on mineral exploration, particularly developing its silver-lead-zinc project in Bolivia [4]. - Further information about the company can be accessed through its official website [4].