Mr. Shawn Khunkhun reports

[VIDEO ENHANCED] DOLLY VARDEN SILVER'S (DV.V) KITSOL VEIN EXTENDS CLOSER TO SURFACE.

Last week, Dolly Varden Silver Corp. released the first batch of drill results from its planned 55,000-metre drill program along the Kitsault Valley trend in British Columbia's famed Golden Triangle.

The Golden Triangle hosts one of the world's largest concentrations of minerals," confirms The Deep Dive, with "188 million ounces of gold estimated reserves, with 47.5 million proven and probable, and 1.2 billion ounces silver estimated reserves, with 214 million proven and probable."

With roughly 10 per cent of the total drilling reported, Dolly Varden has established that its Kitsol vein is wider, longer and closer to the surface than previously known. This will typically improve the economics of a mine -- making it quicker to cash flow.

Highlights from the Kitsol vein in the Torbrit deposit area include:

• DV23-334: 297 grams per tonne (g/t) silver (Ag) over 8.32 metres, including 1,090 g/t Ag over 0.90 metre at Kitsol.
• DV23-336: 342 g/t Ag over 18 metres, including 2,270 g/t Ag over 0.50 metre, and 995 g/t Ag with 3.6 per cent lead (Pb) over 0.60 metre at Kitsol.
• DV23-337: 496 g/t Ag over 9.57 metres, including 1,100 g/t Ag over 0.73 metre at Kitsol.
• DV23-348: 334 g/t Ag over 3.50 metres, including 672 g/t Ag over 1.34 metres at Torbrit Main, south extension.

"Intervals are core length," states Dolly Varden. "True widths vary from 64 to 87 per cent of core length interval, assays are uncut."

"As the flow of results from our fully funded 2023 exploration drill program have started, we continue to see successful resource expansion drilling at the Kitsol vein, intersecting high-grade silver mineralization over wide intervals, that is potentially amenable to bulk underground mining methods," stated Shawn Khunkhun, president and chief executive officer of Dolly Varden Silver.

"The Kitsault Valley asset is a volcanogenic, strata-bound system with 1,000-gram-per-tonne veins," Mr. Khunkhun told Guy Bennett, chief executive officer of Global Stocks News (GSN). "But the system is also disseminated with 200 grams/tonne silver. Bulk mining would enable us to boost the average grade and the tonnage per day, improving mine economics."

"With bulk tonnage underground mining, instead of doing a blast where you pull out 25 tonnes of rock, you're pulling out 10,000 tons of rock per blast," Robert Van Egmond, Dolly Varden vice-president of explorations told GSN. "When the Torbert mine was in production in the 1950s, they had stopes that were 20 metres wide, 30 metres high. You're peeling off large amounts of rock, you don't need a lot of equipment and people moving around."

From the four highlighted holes in the Aug. 8 press release, the deepest intersect is 131.9 m below surface.

To put this in context, Pan American Silver's May, 2023, drill results from its La Colorada skarn project in Zacatecas, Mexico, included a highlighted hole of 64 metres at 391 grams/tonne silver, 1.2 kilometres below surface.

"Due to drilling success and efficiencies, a fifth drill has been mobilized to site and the 2023 program has been expanded by approximately 10,000 metres, to 55,000 metres of drilling," states Dolly Varden. "Over 70 drill holes have been completed to date this season."

Weak ESG (environmental, social and governance) initiatives can kill resource projects. Conversely, strong local partnerships combined with robust environmental protections are significant deriskers for investors.

Five years ago, Dolly Varden was part of a group focused on deepening the relationships with the Golden Triangle's first nations, including the Nisga'a Lisims government (NLG).

"Government, along with first nations and several exploration companies [including DV Silver] from B.C.'s northwest region, has created the B.C. Regional Mining Alliance (BCRMA) to promote British Columbia's mining opportunities internationally," reported the Nisga'a nation.

"British Columbia's Golden Triangle is poised for a mining boom that raises the bar when it comes to achieving the higher environmental, social and guidance expectations for companies that produce the gold, silver, copper, and other metals the world needs and wants," confirms Mining News North.

"Through our partnership, we are creating a circle of certainty in the Golden Triangle that will attract investors to work with us in our territories," stated Eva Clayton, Nisga'a Lisims government president.

"We have a very good relationship with the Nisga'a," confirms Mr. Khunkhun. "They often travel with me to conferences. They are looking to maximize employment opportunities, also grow their wealth. We have the same objective for the Nisga'a."

"We are also launching a business with them," continued Mr. Khunkhun. "Our goal is to make it one of the largest indigenous-owned business in the country. The Nisga'a are sophisticated and pro-business."

"We have 15 Nisga'a staff working at site now," reports Mr. Van Egmond. "They are doing camp maintenance, building drill pads, falling trees, logging core and we're starting to get Nisga'a people working on the environmental side. We are fortunate to have long-time employees, they are a massive asset to our operations."

On Aug. 8, 2023, Maurice Jackson, founder and chief executive officer of Proven & Probable, conducted a wide-ranging interview with Mr. Khunkhun. Mr. Jackson "educates and speculates" in the natural resource space -- he is also a long-term shareholder in DV Silver.

"Dolly Varden is giving investors leverage to rising silver and gold prices," Mr. Khunkhun told Mr. Jackson. "At a time where silver and gold may be either declining or flat in price, we have successfully grown our mineral inventory, giving precious metals investors exposure to a large high-grade silver and gold deposit in a very safe location.

"We had about a $20-million drill budget, which funded 45,000 metres," continued Mr. Khunkhun. "Because of efficiencies, we're able to allocate an extra 10,000 metres of drilling, increasing the program to 55,000 metres. We're bringing in a fifth drill rig to accomplish that goal, at no extra cost to our shareholders."

In 2017, the $2.8-billion Hecla Mining Company made a formal takeover bid for Dolly Varden Silver at 69 cents cash per share (a 97-per-cent premium to market at the time). This offer was rejected. Hecla currently owns 10 per cent of Dolly Varden and is one of many potential buy-out suitors, as Dolly Varden's metal inventory grows.

Dolly Varden's 163-square-kilometre 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. The company's land package is 40 times larger than Vancouver's Stanley Park.

"The Aug. 8 drill results are less than 10 per cent of the drill program," Mr. Khunkhun told GSN. "We will continue to drill. I anticipate putting out result-oriented news once or twice a month throughout September, October, November, December and into the new year."