Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant") and CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) (FSE: C9R) ("CleanTech") are pleased to announce that, further to their joint press release dated April 8, 2025, they have closed the Transaction (as defined below) whereby CleanTech was assigned an option to purchase the El Triunfo Gold and Antimony Project (the "Triunfo Project") located in the Bolivian department of La Paz, about 75km to the east of Bolivia's capital city of La Paz and spans an area of approximately 256 hectares.
On April 8, 2025, Silver Elephant and CleanTech entered into an option assignment agreement pursuant to which Silver Elephant assigned its rights in and to an option agreement dated July 10, 2020, pursuant to which, Silver Elephant has the right, through a wholly owned subsidiary of Silver Elephant, to acquire 100% of the equity interests in the capital of Mururata S.R.L., a commercial society existing pursuant to the laws of Bolivia that owns certain Bolivian mining rights that comprise the Triunfo Project, to CleanTech in consideration for the payment of CAD 155,000 in cash (the "Transaction").
Oracle Commodity Holding Corp. ("Oracle") is a control person of CleanTech, holding 42,799,502 common shares of CleanTech. Silver Elephant is a control person of Oracle, holding 28,793,110 common shares of Oracle. As such, CleanTech and Silver Elephant are related parties to each other within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). CleanTech will rely on the exemptions from the formal valuation and minority approval requirements of MI 61-10 (and Policy 5.9 of the TSX Venture Exchange) as the fair market value of the consideration paid for the Transaction does not exceed 25% of CleanTech's market capitalization (using a listed share price of $0.045 as of market close on August 5, 2025, and an listed share out of 143,376,716, the market capitalization of CleanTech on August 5, 2025, is approximately $6,451,952).
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company with precious metal projects in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com.
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company focused on critical mineral resources in the USA. CleanTech owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada and an option to acquire a 100% interest in the Campbell Crotser Fluorspar Project in Kentucky.
Further information on CleanTech can be found at www.cleantechvanadium.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:
Phone: 1.604.569.3661 ext. 101
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.silverelef.com
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
"Masateru Igata"
Director
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.cleantechvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements and Cautionary Disclaimers
References to $ herein refer to the lawful currency of Canada.
This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This news release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian and United States securities laws. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the Transaction. Except for statements of historical fact relating to each of Silver Elephant and CleanTech, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and other similar words, or statements that certain events or conditions "may", "should" or "will" occur.
Although each of Silver Elephant and CleanTech has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Neither Silver Elephant nor CleanTech undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, each of Silver Elephant and CleanTech may make changes to its business plans that could affect results.
