DOLLF) 45,000 Meter Drill Program Underway on the Kitsault Valley Challenge

Vancouver, British Columbia – June 5, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Vancouver, BC: Dolly Varden Silver Company (TSXV: DV) (OTCQX: DOLLF) (the “Corporate” or “Dolly Varden”) declares that diamond drilling with 4 rigs has commenced on the Kitsault Valley Challenge, which incorporates the Dolly Varden Silver belongings and Homestake Ridge Gold-Silver belongings. Two drills are focused on the Wolf Vein and two on the Kitsol Vein. A 5th drill rig is to be had as this system progresses.

“We now have hit the bottom working with 4 drills on our absolutely funded 2023 exploration drilling program. We now have already finished a number of drill holes at Wolf and Kitsol, the place competitive step-outs in 2022 considerably expanded silver mineralization alongside strike to the north and south in addition to down-dip. The Workforce is worked up to check a lot of new goal spaces underneath the sediment cap with the target of connecting those two large and excessive silver grade spaces,” stated Shawn Khunkhun, President and CEO of Dolly Varden Silver.

Along with step-out holes and exploration drilling on the Wolf and Kitsol veins, a number of new goals might be examined, together with the projection of the Moose Vein beneath the sediment cap (see information unlock April 24, 2023).

In different weeks, the drills might be moved up the valley to the Homestake Ridge space. Additional drilling will check the plunge of large, high-grade gold-silver mineralization that used to be outlined via fresh orientated core and structural interpretations.

Geology crews were on website since early Might, finishing a program of extra sampling of core from 2022 Homestake Major drilling the place assay effects printed an intensive low-grade gold (>0.1 g/t Au) envelope to high-grade mineralization.

Certified Individual

Rob van Egmond, P.Geo. Vice-President Exploration for Dolly Varden Silver, the “Certified Individual” as outlined via NI43-101 has reviewed, validated and licensed the clinical and technical data contained on this information unlock and supervises the continued exploration program on the Dolly Varden Challenge.

About Dolly Varden Silver Company

Dolly Varden Silver Company is a mineral exploration corporate excited by advancing its 100% held Kitsault Valley Challenge (which mixes the Dolly Varden Challenge and the Homestake Ridge Challenge) positioned within the Golden Triangle of British Columbia, Canada, 25kms via highway to tide water. The 163 sq. km. mission hosts the high-grade silver and gold assets of Dolly Varden and Homestake Ridge along side the previous generating Dolly Varden and Torbrit silver mines. It is thought of as to be potential for web hosting additional valuable steel deposits, being at the similar structural and stratigraphic belts that host a lot of different, on-trend, high-grade deposits, akin to Eskay Creek and Brucejack. The Kitsault Valley Challenge additionally accommodates the Giant Bulk belongings which is potential for porphyry and skarn taste copper and gold mineralization, very similar to different such deposits within the area (Purple Mountain, KSM, Purple Chris).

Ahead-Taking a look Statements

This unlock would possibly include forward-looking statements or forward-looking data beneath acceptable Canadian securities regulation that is probably not in line with ancient reality, together with, with out limitation, statements containing the phrases “imagine”, “would possibly”, “plan”, “will”, “estimate”, “proceed”, “wait for”, “intend”, “be expecting”, “possible”, and an identical expressions. Ahead-looking statements contain recognized and unknown dangers, uncertainties, and different components which would possibly motive the true effects, efficiency, or achievements of Dolly Varden to be materially other from any long run effects, efficiency, or achievements expressed or implied via the forward-looking statements. Ahead-looking statements or data on this unlock pertains to, amongst different issues, the result of earlier box paintings and techniques and the continuing operations of the present exploration program, interpretation of the character of the mineralization on the mission and that that the mineralization at the mission is very similar to Eskay and Brucejack, result of the mineral useful resource estimate at the mission, the prospective to develop the mission, the prospective to make bigger the mineralization and our ideals concerning the unexplored portion of the valuables.

Those forward-looking statements are in line with control’s present expectancies and ideology and suppose, amongst different issues, the facility of the Corporate to effectively pursue its present building plans, that long run resources of investment might be to be had to the corporate, that related commodity costs will stay at ranges which are economically viable for the Corporate and that the Corporate will obtain related lets in in a well timed means with the intention to allow its operations, however given the uncertainties, assumptions and dangers, readers are cautioned to not position undue reliance on such forward-looking statements or data. The Corporate disclaims any legal responsibility to replace, or to publicly announce, this sort of statements, occasions or tendencies with the exception of as required via legislation.

For additional info on dangers and uncertainties, see the Corporate’s maximum not too long ago filed annual control dialogue & research (“MD&A”) and control data round dated January 21, 2022 (the “Round”), either one of which might be to be had on SEDAR at www.sedar.com. The chance components recognized within the MD&A and the Round don’t seem to be supposed to constitute an entire checklist of things that might have an effect on the Corporate.

Neither the TSX Challenge Alternate nor its Law Products and services Supplier (as that time period is outlined within the insurance policies of the TSX-V) accepts accountability for the adequacy or accuracy of this information unlock.

For additional data: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com

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