Mr. Juan Carlos Sandoval reports

STATEMENT IN RESPONSE TO SILVER ELEPHANT'S NEWS RELEASE DATED JUNE 17, 2026

Andean Precious Metals Corp. is aware of the news release issued by Silver Elephant Mining Corp. on June 17, 2026, regarding its filing of a notice of civil claim in Vancouver, B.C.

The allegations contained in Silver Elephant's news release and its notice of civil claim are spurious and wholly without merit, and Andean strongly disagrees with Silver Elephant's characterization of the facts and circumstances described therein. Andean intends to vigorously respond to and oppose all of Silver Elephant's allegations and claims.

Andean has conducted its business affairs and operations in accordance with applicable laws, legal obligations and regulatory requirements. Any suggestion, let alone allegation, that Andean improperly interfered with Silver Elephant's contractual or business relationships is categorically rejected and denied.

Andean is confident that the facts, evidence and law will demonstrate that Silver Elephant's claims are unfounded and will be dismissed and, as this matter is pending before the courts, Andean will present its position through the appropriate legal process, and no further comment will be provided by Andean at this time.

Andean remains focused on carrying out the safe, responsible and lawful operations of its business and on continuing to create and enhance value for its stakeholders.

About Andean Precious Metals Corp.

Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The company owns and operates the San Bartolome processing facility in Potosi, Bolivia, and the Golden Queen mine in Kern county, California, and is well financed to act on future growth opportunities.