Dolly Varden Silver Announces Grant of RSU and Stock Options

Press Release

VANCOUVER, BC,  – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden”) announces that pursuant to its Stock Option Plan, the Company has granted stock options (the “Stock Options”) to directors, officers and consultants to purchase an aggregate of 2,194,000 common shares of the Company.  The Stock Options will be exercisable at a price of $1.00 per share with an expiry of February 28, 2030.

The Company has also granted an aggregate of 949,000 restricted share units (“RSU”) to officers and directors of the Company which will vest equally over three years, with the first vesting occurring after one year. Each vested RSU entitles the holder to receive one common share of the Company. The grant of RSU is subject to the Company’s Restricted Share Unit Plan.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held

Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project)

located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq.

km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along

with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for

hosting further precious metal deposits, being on the same structural and stratigraphic belts that host

numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley

Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and

gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

For further information: Shawn Khunkhun, CEO & Director, 1-604-602-1440, www.dollyvardensilver.com;

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