Mr. Shawn Khunkhun reports

DOLLY VARDEN SILVER ANNOUNCES GRANT OF RSU AND STOCK OPTIONS

Dolly Varden Silver Corp., pursuant to its stock option plan, has granted 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 per share with an expiry of Feb. 28, 2030.

The company has also granted an aggregate of 949,000 restricted share units (RSUs) 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 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. The 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. 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).

We seek Safe Harbor.