Silver Elephant Receives Favorable Arbitration Award in Dispute with Andean Precious Metals

Core Viewpoint - Silver Elephant Mining Corp. has received a favorable arbitration award against Andean Precious Metals Corp. regarding a contractual dispute, resulting in a financial recovery for the company [1][2]. Group 1: Arbitration Outcome - The arbitrator ruled that Andean breached the Master Services Agreement (MSA) by failing to pay an additional consideration of USD 1.0 million to Silver Elephant, along with pre-judgment interest of approximately USD 36,077.37 [2]. - All counterclaims made by Andean were rejected, including allegations of wrongful termination of the MSA and illegal mining activities [3]. Group 2: Financial Recovery - A security deposit of USD 274,553.55 paid by Andean in 2024 will be set off against the additional consideration owed to Silver Elephant, leading to a substantial net recovery for the company [4]. Group 3: Ongoing Disputes - Silver Elephant is evaluating further claims against Andean related to ongoing mining activities in the Paca area, which is part of a Mining Production Contract (MPC) that has been in dispute since December 31, 2024 [5]. - The MPC grants Silver Elephant exclusive rights to mine and develop the Pulacayo and Paca projects since 2019, and the company is pursuing various administrative and judicial avenues to reinstate the MPC [5].