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Dolly Varden Silver's 120 Meter Step-Out at the Wolf Vein Intersects 379 g/t Silver over 21.69 Meters, Including: 1,804 g/t Silver over 1.67 Meters

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Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (FSE: DVQ1) (the "Company" or "Dolly Varden") is pleased to announce infill, step-out and resource expansion drilling results from the Wolf Vein. Drill hole DV24-421 is a significant 120 meter step-out down the plunge of the high grade silver zone and intersected 379 g/t Ag, 0.64% Pb and 0.66% Zn over 21.69 meters. The consistent thickness and silver grade of the mineralized zone remains wide open for expansion as it plunges to the southwest.

DV24-421 is the southernmost hole completed to date; results have delivered consistent wide, potentially underground bulk-mineable intervals. These include recently reported step-out results completed during the 2024 season, including previously released: DV24-416, intersecting and 654 g/t Ag / 0.47% Pb / 0.57% Zn over 21.48 meters and DV24-408, intersecting 513 g/t Ag / 2.95% Pb / 1.82% Zn over 27.19 meters (see Dolly Varden Silver's News Release, dated September 9, 2024). This drilling has expanded the plunge of the silver mineralization to over 1,100 meters at the Wolf Vein. Further expansion drilling will be a priority during the Company's fully funded 2025 drilling program.

Additionally, included in this release are results from follow-up exploration drilling from multiple prospects on the Dolly Varden Project Area. The Company's successful 2024 exploration drill program at the Kitsault Valley Project was expanded to 32,000 m from the initial planned 25,000 m.

Wolf Vein Drilling

Highlights include:

  • DV24-421 - 120m step-out: 379g/t Ag, 0.64% Pb and 0.66% Zn over 21.69 meters, including 1,804 g/t Ag, 4.36% Pb and 3.10% Zn over 1.67 meters.

  • DV24-406 - infill: 465 g/t Ag, 0.49% Pb and 0.22% Zn over 7.67 meters, including 1,416 g/t Ag, 1.56% Pb and 0.51% Zn with 0.24 g/t Au over 1.00 meters.

  • DV24-413 - lower extension: 374g/t Ag, 0.54% Pb and 0.82% Zn over 9.70 meters, including 975 g/t Ag, 0.36% Pb and 2.28% Zn over 2.30 meters. Individual Pb/Zn veins in the footwall to the main Wolf Vein graded 130 g/t Ag, 2.48% Pb, 14.65% Zn over a length of 2.07 meters.

  • DV24-415 - upper extension: 357 g/t Ag, 0.52% Pb and 0.41% Zn over 9.17 meters, including 2,034 g/t Ag, 3.47% Pb and 0.18% Zn over 1.15 meters.

* intervals shown are core length. Estimated true widths vary depending on intersection angles and range from 55% to 70% of core lengths, further modelling of the new intersections is needed before true widths can be estimated.