Mr. Shawn Khunkhun reports

DOLLY VARDEN SILVER DRILLS 56,131 METERS IN 84 DRILL HOLES ON THE 2025 KITSAULT VALLEY EXPLORATION PROGRAM

Dolly Varden Silver Corp. has completed the 2025 diamond drill program on the 100-per-cent-owned Kitsault Valley project with a total of 56,131 metres in 84 drill holes. The program has confirmed resource expansion through stepout and infill drilling at the Wolf and Homestake silver deposits as well as intersecting new mineralization at numerous exploration targets throughout the Kitsault Valley and Big Bulk copper-gold porphyry project.

"Early-season, high-grade, wide silver results from the Wolf vein backed up the expansion of the 2025 drill program from 35,000 metres to 55,000 metres at the Kitsault Valley with successful stepouts and exciting new mineralized zones gives us a clear line of sight on the next set of priorities. The team delivered safely and efficiently, and the work strengthens our conviction in growing Kitsault Valley's high-grade silver and gold potential. With fieldwork and core logging complete, expect a steady cadence of updates as we integrate and release assays," stated Shawn Khunkhun, president and chief executive officer.

The 2025 drill program split approximately 60 per cent on the Dolly Varden property and 40 per cent on the Homestake Ridge property. The company is using directional drilling technology to precisely target areas for stepout and infill holes at both the Wolf and Homestake Silver deposits. Utilizing the same mother hole to drill multiple intersects of the targeted mineralized zone in numerous daughter holes has increased efficiency and accuracy over previous drilling.

Marketing service provider engaged

Dolly Varden Silver has entered into a marketing services agreement with Orbiton Capital Corp. to provide strategic advice, digital media and marketing services to the company. Orbiton, a San Francisco-based company, will provide strategic advice, media buying and distribution, and marketing services through on-line media placements for the company, including, but not limited to, newsletters. Under the terms of the agreement, Orbiton will be paid $100,000 (U.S.) up front for a 24-month term that may be extended at the discretion of the company.

Orbiton's business address is 100 Pine St., San Francisco, Calif., 94111, United States. Orbiton is an arm's-length party to the company. Orbiton does not have a direct interest in the company or its securities or any right or intent to acquire such an interest at this time; however, Orbiton may acquire an interest in the securities of the company in the future. In addition, a shareholder of Orbiton personally holds 20,000 stock options of the company, received pursuant to an unrelated consulting agreement and in accordance with the company's stock option plan, giving such person the right to acquire 20,000 common shares of the company at a price of $4 per share. There are no performance factors contained in the agreement and no stock options or other compensation is being issued to Orbiton under the agreement.

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 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 the Dolly Varden, Torbrit, Porter Idaho, Mountain Boy and Esperanza historic 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 deposits in the region (Red Mountain, KSM and Red Chris).

We seek Safe Harbor.