Mr. Shawn Khunkhun reports

DOLLY VARDEN SILVER INCREASES SCOPE OF 2025 KITSAULT VALLEY DRILL PROGRAM TO 55,000 METERS, ADDS FIFTH DRILL

Dolly Varden Silver Corp. has increased the previously announced 35,000-metre drill program to 55,000 metres. Drilling will prioritize the Wolf vein extension, where the company continues to intersect mineralization on stepouts and infill drilling, as well as testing multiple silver, gold and copper exploration targets, at the Kitsault Valley and Big Bulk projects.

"With the strong support of our shareholders in the recently completed financing, Dolly Varden is well positioned to significantly expand its exploration drilling based on a strong start to the season, enabling us to test key exploration targets and continue expanding the high-grade silver zone at the Wolf vein," states Shawn Khunkhun, president and chief executive officer of Dolly Varden Silver.

The company is well into the drilling program, with approximately 17,000 metres already completed, with testing priority exploration targets at the Moose, Chance and Red Point prospects. Additionally, systematic stepouts at the Wolf vein, where alteration and structural studies suggest that vein mineralization at Wolf is becoming increasingly robust with a higher-temperature alteration signature toward the southwest, as it approaches the projection of the Central Valley/Moose Lamb basin bounding fault system that connects through from the Torbrit silver deposit.

A fifth drill rig has been mobilized to the project, drilling at the Big Bulk copper-gold porphyry system, located 10 kilometres east of the Torbrit silver deposit. Two drills remain on Wolf vein directional drilling, testing downplunge and stepping out in search of the mid-valley structural intercept. The other two drills are currently at the Homestake silver deposit after completing several exploration holes at Red Point, Chance and the Moose vein.

In addition to the drilling increase, the company's geological team has been able to intensify geological fieldwork, including mapping and sampling of underexplored areas on the recently consolidated claim packages, now totalling 100,000 hectares of prospective Hazelton formation rocks. This work will develop drill targets for late 2025 and 2026 exploration programs.

Directional drilling

By shifting the focus from total meterage to strategically placed intercepts, Dolly Varden is executing a more precise and sustainable drilling strategy. The directional drilling has allowed the company to decrease total meters drilled by utilizing the same mother hole numerous times. The 55,000 metres are estimated using the total length of each drill hole as if each hole started from surface. Since the total meterage estimate includes those redrilled mother hole lengths, actual metres of new core will be in the order of 41,000 metres, thus achieving the same number of mineralized intercepts while drilling significantly fewer metres at Wolf and Homestake.

Qualified person

Rob van Egmond, PGeo, vice-president, exploration, for Dolly Varden, the qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release. Mr. van Egmond, PGeo, is not independent of the company in accordance with NI 43-101.

About Dolly Varden Silver Corp.

Dolly Varden Silver is a mineral exploration company focused on advancing its 100-per-cent-held Kitsault Valley project (which combines the Dolly Varden project and the Homestake Ridge project), located in the Golden Triangle of British Columbia, Canada, 25 kilometres by road to tidewater. Including the Kitsault Valley project, the company has consolidated approximately 100,000 hectares of prospective tenure in the Golden Triangle with five past-producing high-grade silver mines, including Dolly Varden, Torbrit, Porter Idaho, Mountain Boy and Esperanza historical mines. The 163-square-kilometre Kitsault Valley 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 and Red Chris).

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