02:10 PM EDT, 04/08/2025 (MT Newswires) -- Silver Elephant Mining ( SILEF ) and CleanTech Vanadium Mining ( CTVFF ) on Tuesday said they entered into an option agreement that sees CleanTech acquire Silver Elephant's El Triunfo Gold and Antimony Project in Bolivia.

Silver Elephant the right, through a unit, to buy 100% of the equity interests in the capital of Mururata S.R.L., which owns the El Triunfo project and give to CleanTech in consideration for the payment of $155,000 in cash.

CleanTech has provided Silver Elephant with a refundable deposit in the amount of $155,000, which shall be repaid in the event the deal is not completed by Dec. 31, or if the option assignment agreement is otherwise terminated.

The transaction is non-arm's length as Chief Executive Officer John Lee, Director Greg Hall and other directors have the same roles in both Silver Elephant and CleanTech. The company said both Lee and Hall declared their interest and abstained from voting on the transaction.

Silver Elephant shares were last seen up $0.035 to $0.185 on the Toronto Stock Exchange, while CleanTech shares up $0.005 to $0.035 on the TSX Venture Exchange.

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