Wolf Vein Silver Mineralization Has Been Extended

VANCOUVER - Dolly Varden Silver Corporation has dramatically extended the limits of silver mineralization at the Wolf Vein through wide-spaced step-out drilling. Mineralization remains wide-open for expansion, with further assays pending from the 2022 season.

Highlights from exploration step-out drilling at Wolf include: DV22-311: 412 g/t Ag over 12.80 meters (5.38 meters true width) including 2.15 meters (0.90 meters true width) grading 1,646 g/t Ag, 2.38% Pb, 3.10% Zn and 0.10 g/t Au; and DV22-316: 551 g/t Ag over 9.80 meters (4.90 meters true width) including 3.60 meters (1.8m true width) grading 1,049 g/t Ag, 1.19% Pb and 0.29% Zn.

Drill hole DV22-316 intersected wide, high-grade mineralization in multiple vein and breccia phases at Wolf, over 200 meters down plunge from previously reported drill hole DV22-300 that intersected 19.85m (13.90m true width) averaging 584 g/t Ag, 0.92 %Pb, 0.56% Zn and 0.19 g/t Au. In addition, drill hole DV22-311 intersected similar style mineralization grading 412 g/t Ag, 0.82% Pb and 2.14% Zn over 12.80m (5.38m true width) located 400m down dip of mineralization in DV22-300.

"Dolly Varden Silver's wide-spaced step-out drilling this season has more than doubled the strike length of the Wolf Deposit, as well as extending high-grade silver mineralization to over 750 meters in dip extent. The highest grades are within robust, vein-hosted mineralization that is potentially amenable to underground bulk mining methods. We eagerly anticipate additional drilling results from the 2022 season at Wolf, Homestake Main, Homestake Silver and Red Point", said Shawn Khunkhun, President and CEO.

The Wolf Vein is interpreted as a wide, multi-phase epithermal vein and breccia system. Mineralization consists of pyrargerite (ruby silver), argentite, native silver, argentiferous galena and sphalerite in a silica breccia vein system. At depth, as seen in drill hole DV22-316, the system appears to widen to a 143m (71m true width) package that consists of three distinct veins within an alteration zone that averages 0.48% Zn over its width. The northeast/southwest orientation of the Wolf vein system and nature of the plunge directions of high-grade silver mineralization is similar to what is seen at the Kitsol deposit, located approximately 1.4km to the south.

Drilling during the 2022 season at Wolf has significantly expanded the wide, high-grade silver mineralization, which occurs in wide, as well as localized shoots hosted within silica vein and breccia sets. Drill intercepts outside of the high-grade shoots encountered anomalous silver mineralization within broad potassic alteration halos underneath a cap of sedimentary rocks. The continuity of silver mineralization underneath the sedimentary cover near the bottom of the Kitsault Valley is resulting in new, blind silver discoveries within the 100 year old Dolly Varden silver mining camp, a result of innovative exploration and modeling techniques. Additional results from step-out drill holes testing for deeper, down plunge mineralization from DV22-316 at the Wolf Vein are currently pending.