Dolly Varden Drills Two High-Grade Intercepts in the new Torbrit East Discovery: Upper-T at 5.00 metres Grading 497 g/t Silver-equivalent and Lower-T at 8.35 metres Grading 320 g/t Silver-equivalent

Dolly Varden Silver (TSX.V: DV | U.S.: DOLLF) (the “Company” or “Dolly Varden”) is pleased to announce results from the eighth batch of drill holes of the 2017 program on the Dolly Varden Silver Project in the Golden Triangle of northwestern British Columbia. This includes two more holes into the discovery of an eastern fault-offset continuation of the Torbrit Deposit called Torbrit East. In addition, a new zone named Beginners Luck marks a fourth discovery target for the year.

Hole DV17-078, drilled in the Torbrit East area, intercepted two zones, with the Upper Zone yielding a core length of 13.00 metres (9.96 m true thickness) grading Ag 244.8 g/t, Pb 0.14 % and Zn 0.09 % for a silver-equivalent of 255.7 g/t. Within this interval is 5.00 metres (3.83 m true thickness) grading Ag 481.9 g/t, Pb 0.21 % and Zn 0.12 % for a silver-equivalent of 497.3 g/t.

The Lower Zone in DV17-078 is more base metals rich. It yielded 21.95 metres (16.81 m true thickness) grading Ag 87.5 g/t, Pb 0.85 % and Zn 1.01% for a silver-equivalent of 176.3 g/t. Within this interval is 8.35 metres (6.40 m true thickness) grading Ag 121.6 g/t, Pb 1.79 % and Zn 2.33 % for a silver-equivalent of 320.1 g/t.

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