TSX:ELEF $0.485
OTCQB:SILEF $0.360
Silver: $31.130
TSX:ELEF $0.485
OTCQB:SILEF $0.360
Silver: $31.130

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TSX:ELEF

0.485
-0.005
54482

OTCQB:SILEF

0.360
0.010
3500
Last updated: 2024-11-21

About Silver Elephant

Silver Elephant is a mining company (TSX: ELEF, OTCQB: SILEF) , with growing silver production from its 100% owned Pulacayo-Paca mining project in Bolivia. Silver Elephant's Paca open-pit project has been in production since October 2023 at a mining rate of 1,000 tonnes per day.

Pulacayo-Paca has 107 million indicated ounces of silver with lead and zinc credits*. The project had received over $40 million in investment, including over 100,000 meters of drilling. Silver Elephant has approximately 37 million shares outstanding.

100

Oz of Silver

37.894

Shares Outstanding

$18.378

Market Cap

Paca Is Now In Production!

Silver Elephant mined and trucked its first shipment of Paca silver oxide materials to Andean Precious Metals. Congratulations!

Silver Elephant's Paca project is located in Potosi, Bolivia, 107 km northeast of the San Cristobal silver mine, 171 km southwest of New Pacific’s Silver Sands discovery, and 180km from Andean Precious Metals' Manquiri project.

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Paca Project: Constructing Tunnel Leading To Silver Sulphide

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Pulacayo is a thriving mining community with friendly people and skilled workforce

Pulacayo Silver Project

Silver Elephant’s Pulacayo project is located in Potosi, Bolivia, 107 km northeast of the San Cristobal silver mine, 171 km southwest of New Pacific’s Silver Sands discovery, and 139 km north of Pan American Silver’s San Vicente silver mine.

The Pulacayo project consists of the Pulacayo deposit and the Paca deposit (7km north of the Pulacayo deposit).

Pulacayo Project Resource

Silver Elephant's 100% controlled Pulacayo Project is located in Bolivia, South America. The Project hosts a NI 43-101 Indicated resource of 48Mt @ 69g/t Ag, 1.3% Zn, 0.7% Pb (Resource Estimate prepared by Mercator Geological Services on October 2020).

Pulacayo Project Resource Estimate Oct 13, 2020*
Deposit Category k Tonnes Ag M oz Zn M lbs Pb M lbs
Pulacayo Indicated 26,350 70.2 903.7 386.0
Inferred 1,670 7.2 71.8 18.4
Paca Indicated 21,690 37.0 485.8 304.2
Inferred 3,395 6.0 51.1 43.7
Total Indicated 48,040 106.7 1,384.7 690.2
Inferred 5,065 13.1 122.8 61.9
* Further Project resource disclosure:
www.silverelef.com/projects/pulacayo-silver-lead-zinc

Paca Conceptual Open Pit

The NI 43-101 report by Mercator estimates a resource of over 1 million tonnes of high-grade silver in oxide form, from surface to 30m deep grading over 200g/t. Silver Elephant is working on district-scale environmental permitting to allow mining operations of up to 50,000 tonnes per day at Pulacayo and Paca. Numerous prospective targets with mineralization expressions have been identified at the Pulacayo project. The Company has commenced activities to explore these areas.

Zone Category Tonnes Ag g/t Ag Moz Zn % Pb %
Phase 1 Oxide (In-pit) Indicated 800,000 231 5.9
Inferred 235,000 159 1.2
Phase 2 Sulfide (In-pit) Indicated 1,810,000 256 14.9 1.22 1.22
Inferred 190,000 338 2.1 0.61 0.98
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El Triunfo Gold Project

Silver Elephant's 100% owned El Triunfo Project is located in the department of La Paz, Bolivia. The company first drilled 49m of 0.42 g/t Au, 35g/t Ag, 1.2% Zn, 0.8% Pb in 2020.

Management

John Lee, CFA CEO & Executive Chairman

Mr. Lee specializes in mining M&A and has raised over $150 million through the TSX and TSX Venture Exchange for junior companies since 2009. Lee identified, negotiated and financed Lynn Lake nickel acquisition in 2009, Ulaan Ovoo coal in 2010, Wellgreen nickel-pgm in 2011, Shakespeare nickel-pgm in 2012, Pulacayo silver in 2015, Gibellini vanadium in 2017, Bisoni vanadium in 2020, and Minago nickel-pgm in 2021. Mr. Lee is a CFA charterholder and graduated from Rice University with bachelor’s degrees in Economics and in Engineering (honor).

Rob Van Drunen Chief Operating Officer

Robert Van Drunen, who is based in Thompson, Manitoba, has over 30 years of experience with Vale and Inco. He started his mining career with Inco in 1990 and progressed through his career with increasing levels of responsibility, including Mine Manager and most recently Senior Project Manager of the Thompson Operation. In the latter role, he led multi-disciplinary teams in all aspects of mining, including operations (both underground and open pit), maintenance, exploration, procurement, supply chain management, and contract management.
Mr. Van Drunen holds a Masters Certificate in Project Management from York University. He specializes in process improvement and cost control, as well as an award winning track record for zero-harm safety culture.

Ron Espell VP Environment

Based in Salt Lake City, Utah, Mr. Espell is a highly regarded specialist in U.S. federal and Nevada state mine permitting, with over 30 years of experience in corporate environmental management, permitting in conformance with applicable regulatory and performance standards, mine waste management, reclamation, and closure planning.
Prior to joining Silver Elephant Mining Corp, Mr. Espell was the corporate environmental director of McEwen Mining Inc. Within 18 months from the time he joined McEwen Mining, Mr. Espell led his team to successfully obtain the Gold Bar project’s environmental impact statement (EIS) approval from the Bureau of Land Management (BLM) Battle Mountain District office in November, 2017.
Prior to his time with McEwen Mining, Mr. Espell was a principal consultant at SRK Consulting and vice-president of environment for Gibellini’s prior operator, where he lead efforts in the preparation of Gibellini’s baseline studies and plan of operation.
Mr. Espell’s wealth of experience includes being an environmental management specialist at the Nevada Division of Environmental Protection, as well as working for 17 years in positions of increasing responsibility at Barrick Gold Corp., from being environmental superintendent, environmental manager of Barrick Goldstrike, regional environmental director — Australia Pacific, and corporate environmental director.
Papers by Ron Espell
July 2020, Streamlining Mine Permitting Under Secretarial Order 3355
A Summary of Implementing the S.O. 3355 Process for Permitting A New Mine in Nevada

Andrew Yau CPA, CGA: Chief Financial Officer

Mr. Yau is an accomplished financial executive with diverse merger and acquisition experience in the mining sector complemented with strong international financial reporting standards (IFRS) and public company compliance knowledge. Mr. Yau previously held senior financial positions with several Toronto Stock Exchange- and TSX Venture Exchange-listed companies, most recently as executive vice-president and chief financial officer of Orea Mining Corp.
Mr. Yau, CPA, CGA, holds a bachelor of commerce and business administration degree from the University of British Columbia and has been in accounting and finance roles with publicly listed companies since 2006.

Alex Bayer Chief Legal Officer

Mr. Bayer is a seasoned corporate securities lawyer with over 15 years of experience specializing in the mining sector. He has extensive expertise in advising mining companies on a wide range of matters, including public and private financings, mergers and acquisitions, regulatory compliance, operations and corporate governance. Mr. Bayer has successfully guided TSX and TSXV listed companies through numerous complex transactions and strategic initiatives while navigating legal and regulatory requirements.
Mr. Bayer holds a Bachelors of Laws degree (LLB) from the University of Ottawa and has either advised or worked directly with publicly listed companies since 2005.

Bill Pincus Advisor

Mr. Pincus brings more than 40 years of experience in mineral exploration to Silver Elephant. He is a graduate of the Colorado School of Mines with M.Sc. Degrees in Geology and Mineral Economics. Mr. Pincus was Founder and President of Esperanza Resources (acquired by Alamos Gold) that discovered the Cerro Jumil (México) and San Luis (Peru) gold deposits. He has worked extensively in mining projects across the world and is responsible for six major precious metals discoveries.
He is also a fellow of The Society of Economic Geologists and Certified Professional Geologist by the A.I.P.G. Mr. Pincus is a “Qualified Person” as defined in National Instrument 43-101 (“NI 43-101”). He is also fluent in Spanish.

Nigel Lees P. Eng Director

Mr. Lees has over thirty years of experience in merchant and investment banking in the U.K. and Canada. His career in Canada commenced with RBC Dominion Securities as a research analyst. During his career in Canada, he has been a partner and director of several investment dealers and has assisted in financing companies in the process of going public on the Canadian stock exchanges. He has served as a member of the Listing Committee of the Toronto Stock Exchange as well as an officer and board member of several publicly listed junior mining companies. He was a founder and past director of TVX Gold Inc., a significant North and South American gold producer, which merged with Kinross Gold in 2003. He served as a director of Yamana Gold Inc. for seventeen years until 2020 where he served as the Chairman of the compensation committee.

Harald Batista Advisor

Based in Brazil and California, Harald Batista is the son of the honorable Eliezer Batista (1924–2018), the founder and former president of CVRD (now Vale). With extensive network and fluency in Portuguese, German, English, and Spanish, Mr. Batista will advise on Mergers and Acquisitions (M&A) strategy.

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