Mr. Ronny Motz reports

EARLY WARNING PRESS RELEASE

Pursuant to a private share transaction and purchases in the public markets, as of Oct. 2, 2024, Ronny Motz controls 19 per cent or more of the common shares of Silver Elephant Mining Corp.

On Oct. 2, 2024, Mr. Motz acquired 3,122,650 Silver Elephant shares pursuant to purchases in the public market.

The company currently has 36,888,820 shares and 10,706,258 share purchase warrants issued and outstanding. Mr. Motz currently controls 7,179,680 shares representing approximately 19.46 per cent of the outstanding shares on a non-diluted basis and approximately 15.08 per cent on a fully diluted basis.

Mr. Motz acquired the shares for investment purposes and he may from time to time increase or decrease his ownership or control of securities of the company depending on market conditions and/or other relevant factors.

A copy of the early warning report in respect of this transaction has been filed under the company's profile on SEDAR+.