Mr. John Lee reports

SILVER ELEPHANT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT TOTAL $960,000

Silver Elephant Mining Corp. has proposed to undertake a non-brokered private placement to raise gross proceeds of $960,000 through the sale of two million units at a price of 48 cents per unit. Each unit consists of one common share of the company and one share purchase warrant with each warrant entitling the holder to purchase one additional share at a price of 70 cents per share for a period of three years from issuance.

The securities issued as part of the private placement will be subject to a regulatory hold period of four months plus one day from the date of issue.

Proceeds of the private placement are expected to be used to commission Paca phase one sulphide operation (refer to company's news release dated July 8), and for general corporate purposes.

Directors of the company, will be subscribing for, in the aggregate, up to 400,000 units for gross proceeds of up to $192,000. The issuance of units to insiders pursuant to the private placement will be considered related party transactions within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. The company will file a material change report in respect of the related party transactions in connection with the private placement.

The private placement is subject to approval by the Toronto Stock Exchange (TSX).

About Silver Elephant Mining Corp.

Silver Elephant is a silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia.

We seek Safe Harbor.