Silver Elephant Reports Fatality at Bolivian Operation

Rhea-AI Summary

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) reported a fatal accident at its Paca Silver Project in Bolivia on February 19, 2025. The incident involved an employee who was fatally injured due to a catastrophic failure of a pressurized water tank. The company has notified relevant government authorities and the worker's family, and an investigation has been initiated to determine the root cause.

CEO John Lee expressed condolences and stated that the company's priority is supporting the employee's family while conducting a thorough investigation to reinforce safety protocols and implement additional safeguards to prevent future incidents.

Positive

• None.

Negative

• Fatal accident at Paca Silver Project could lead to operational delays and potential regulatory scrutiny
• Possible regulatory investigations and penalties following the workplace fatality
• Risk of reputational damage affecting investor confidence
• Potential increased operational costs due to necessary safety improvements

Vancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE:1P2) ("Silver Elephant" or the "Company") regrets to report that an employee of the Company was fatally injured at the Company's Paca Silver Project in Bolivia on February 19, 2025.

A mine worker was involved in a fatal accident due to a catastrophic failure of a pressurized water tank while the worker was in close proximity. Appropriate government authorities and family were notified, and an investigation is underway to determine the root cause of the accident.

"We are saddened by this loss and our thoughts and deepest condolences are with our employee's family, friends and colleagues during this difficult time." said John Lee, CEO of Silver Elephant. "The Company's top priority is to ensure the employee's family receives all the necessary assistance while we thoroughly investigate what led to this accident, reinforce safety protocols, and implement additional safeguards to prevent future incidents."

About Silver Elephant Mining Corp.

Silver Elephant is a mineral exploration company with the Paca silver project and Triunfo gold project in Bolivia.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

"John Lee"
CEO and Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241900

FAQ

What happened at Silver Elephant Mining's Paca Silver Project on February 19, 2025?

A mine worker was fatally injured due to a catastrophic failure of a pressurized water tank at Silver Elephant Mining's (SILEF) Paca Silver Project in Bolivia.

What actions is SILEF taking following the fatal accident at Paca Silver Project?

Silver Elephant Mining is conducting an investigation to determine the root cause, providing assistance to the employee's family, and working to reinforce safety protocols and implement additional safeguards.

How might the fatal accident at Paca Silver Project affect SILEF operations?

The incident could lead to temporary operational delays, increased regulatory scrutiny, potential investigations, and implementation of enhanced safety measures at the Paca Silver Project.

What safety measures will SILEF implement after the February 2025 accident?

Silver Elephant Mining has announced plans to reinforce existing safety protocols and implement additional safeguards, though specific measures will be determined following the investigation's conclusion.