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Silver Elephant Mining Up Near 6% as it Sells Additional "High-Grade" Silver Concentrate Lot From Bolivian Silver Mining Operation

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-- Silver Elephant Mining (ELEF.TO) shares rose 6.1% after it sold a second silver-lead concentrate lot from its Apuradita Paca Mining Operation in Bolivia, on Thursday.

The 31.6-tonne, dry basis, silver-lead concentrate grading 8,795 grams per tonne (g/t) silver (Ag) and 24% lead (Pb) was produced at a toll mill facility and sold in April 2026, it said. About 8,936 ounces (oz) of silver was contained in concentrate and sold at US$74.8 per oz. The processing campaign treated about 1,845 tonnes of Apuradita feed grading 248 g/t Ag and 0.8% Pb, it added.

"Underground mining operations at Apuradita continue at a steady rate with the company maintaining a monthly production target of 300 tonnes of silver-bearing mineralized material for the remainder of 2026," said the company in a statement. "The company notes highly-prospective exploration potential with initial tranche results demonstrating the silver-bearing mineralization at Apuradita extends to surface, which is approximately 20 meters vertically from the tunnel."

ELEF believes the feed tonnages may be expanded beyond 2026 as additional mineralized zones are delineated and developed. Ongoing underground development has delineated multiple high-grade areas within the Apuradita tunnel, and the company is advancing additional mining faces through crosscuts and drifts to access and extract silver-bearing mineralized material from these zones, it said.

Silver Elephant Mining has identified three "distinct" mineralization zones within the broader Apuradita project that are potentially amenable to open-pit mining. Systematic sampling of all zones is underway.

Shares of the company were last seen up $0.01 at $0.18 on the Toronto Stock Exchange.

Price: $0.18, Change: $+0.01, Percent Change: +5.88%

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