ME2018: Dolly Varden Silver Corp.

A roughly 25,000-meter drill program carried out by Dolly Varden Silver Corp. in 2018 focused on expanding and defining the deposits of high-grade silver at its Dolly Varden project in northern British Columbia. The deposits identified on this property exhibit both Eskay-like volcanogenic massive sulfide and Brucejack-like epithermal mineralization styles.

In 2015, Dolly Varden published a maiden indicated resource of 3.07 million metric tons averaging 321.6 grams per metric ton (31.8 million ounces) silver in four zones – Dolly Varden, North Star, Torbrit and Wolf. These zones are associated with historical high-grade silver mines that date back to the dawn of the 20th Century.

A prominent mineralized zone, known as the Dolly Varden-Torbrit Horizon (DVTH), extends westward from the past-producing Dolly Varden mine, through the historical underground workings at North Star and into the Torbrit mine, to the east. The DVTH forms an almost continuous sheet of sediment exhalative- (SEDEX) style mineralization.

The Torbrit North and Torbrit East target discoveries are of the same exhalative-style of silver and base metal mineralization found at the Torbit Mine area of DVTH but appears to be parallel to or fault offset from the main horizon.

Torbrit North is 200 meters north and 220 meters deeper than the historic Torbrit Mine. One hole drilled there last year, DV17-063, cut 22.74 meters (21.37 meters true thickness) averaging 433 g/t silver.

Torbrit East, about 70 meters east and 60 meters higher than the Torbrit Mine, appears to have two mineralized areas. Hole DV17-078 cut two mineralized zones, Upper and Lower, in the Torbrit East area – five meters (3.83 meters true thickness) averaging 482 g/t silver in the upper zone; and 8.35 meters (6.4 meters true thickness) averaging 122 g/t silver 2.33 percent zinc and 1.79 percent lead.

Located along its namesake fault, the Moose Lamb target discovery is an epithermal vein-style of mineralization similar to the historic Dolly Varden Mine.

One hole drilled at Moose Lamb last year, DV17-063, cut four meters (2.57 meters true thickness) averaging 988 g/t silver, 0.9 percent zinc and 5.9 percent lead.

In August, Dolly Varden announced the discovery of Bonus Zone northeast of the Moose-Lamb fault and north of the Torbrit Mine.

The Bonus Zone discovery hole, DV18-083, cut 15.5 meters (7.75 meters estimated true thickness) averaging 161.4 g/t silver, with enough zinc and lead to make the intercept 183.7 g/t silver-equivalent.

The company anticipates updating the Dolly Varden resource early in 2019.

In addition to drilling the discovery targets, this year's C$8.9 million program tested expansion areas at the Torbrit and Dolly Varden deposits, which currently host roughly 80 percent of the indicated resource on the Dolly Varden property.

Dolly Varden Silver also owns Big Bulk, a copper-gold prospect about 10 kilometers (six miles) southeast of the company's namesake project. These zones are associated with historical high-grade silver mines.

-SHANE LASLEY

Dolly Varden Silver Corp. - TSX.V: DV

President and CEO: Gary Cope

VP, Exploration: Ben Whiting

Chief Geologist: Robert van Egmond

Ste.1130, 1055 W Hastings St., Vancouver, BC V6E 2E9

Tel: 604-687-8566