Diamond Drilling Program At the Chance Target Area

VANCOUVER, BC - Dolly Varden Silver Corporation reported results of the first batch of 4 drill holes from the 2019 diamond drilling program. These holes are in the Chance Target Area, four kilometers north of the Torbrit Mine deposit. The Dolly Varden Silver Property is situated in “The Golden Triangle” of northwestern British Columbia, Canada.

In the Chance Target Area, hole DV18-165 yielded 26.50 meters (24.90 m estimated true thickness) grading Ag 385.4 g/t, Pb 0.24 % and Zn 0.09 %, for a silver-equivalent of 399.4 g/t. Within this intercept are 5.00 meters (4.70 m estimated true thickness) grading Ag 1,606.5 g/t, Pb 0.86 % and Zn 0.26 %, for a silver-equivalent of 1,653.5 g/t.

Also in the Chance Target Area, hole DV18-166 yielded 20.65 meters (10.33 m estimated true thickness) grading Ag 233.0 g/t, Pb 0.45 % and Zn 0.09 %, for a silver-equivalent of 255.3 g/t. Within this intercept are 7.90 meters (3.95 m estimated true thickness) grading Ag 471.7 g/t, Pb 0.81 % and Zn 0.09 %, for a silver-equivalent of 508.0 g/t.

Gary Cope, President & CEO said, “The high-grade silver intercepts in the Chance Target Area are very encouraging as they are outside of the current mineral resource estimate. In viewing the Dolly Varden Property as a whole, it should be noted that there are multiple silver deposits and high-grade silver targets within a 5 kilometer radius.”

The Chance Target Area is in the same Hazelton Group stratigraphic rocks and along the same potassic alteration zone as the Torbrit Mine deposit. Chance lies 4 kilometers N of the Torbrit Mine, 2.2 kilometers NNE of the Wolf deposit and 1 kilometer SE of the Ace-Galena Target Area. The Chance target was known from shallow surface diamond drilling in the 1960’s. The 2019 exploration drill program in this area is designed to confirm historic reports while also targeting untested depth continuity and lateral strike extension. The 2019 drilling completed thus far has identified a low angle fault at the base of the known mineralization and provided information on possible offset potential to be tested by subsequent drilling.

The 2019 field program is designed to focus mainly on exploration of targets outside of the resource estimates block models. Diamond drilling commenced in June.

The company’s address is Suite 1130-1055 West Hastings Street, Vancouver, BC  V6E 2E9, (604) 687-8566, www.dollyvardensilver.com.