Silver Elephant Mining: Gives an update on its preconsolidated stock trading

Silver Elephant Mining Corp.

https://www.silverelef.com

Silver Elephant gives update on its preconsolidated stock trading

Date : January 12, 2022

Vancouver, British Columbia, January 12, 2022 – Silver Elephant Mining Corp. (“Silver

Elephant” or the “Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt: 1P2N) Following the news release dated January 12, 2022 regarding the effective date of the plan for the agreement, announces that trading in the company’s common stock will begin on Tuesday, January 18, 2022 or later following the agreement and after the consolidation date which can be set by the TSX. The company will issue another press release to confirm the date the common stock will start trading after the agreement and after consolidation.

Silver Elephant confirms that its common shares will continue to trade on the TSX on a pre-agreement and pre-consolidation basis until that date, which is past the Effective Date January 14, 2022. On this day, the preconsolidated shares will be exchanged as follows in accordance with the agreement:

Consolidated common shares will be converted on the basis of 10 pre-consolidation common shares held for:

I. one common share of the company after consolidation;

II. One common share of Flying Nickel Mining Corp. (“Flying nickel“);

1. one common share of Nevada Vanadium Mining Corp. (“Nevada Vanadium“); and IV. two common shares of Battery Metals Royalties Corp. (“Battery metals“).

For more information about the Agreement, readers should read the Company’s management’s information circular prepared in connection with the meeting, a copy of which is available at www.sedar.comand silverelef.com. For more information on Silver Elephant, Flying Nickel, Nevada Vanadium and Battery Metals, visit www.silverelef.com, flynickel.com, nevadavanadium.com and royalbatt.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE MANAGEMENT BOARD

“John Lee”

Chairman of the Board

For more information on Silver Elephant please contact Investor Relations: +1.604.569.3661 ext. 101

[email protected] www.silverelef.com

Neither the Toronto Stock Exchange nor its regulator (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements