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Dolly Varden Announces Closing of the Acquisition of Hecla’s Kinskuch Property
Vancouver, British Columbia – May 26, 2025 - Dolly Varden Silver Corporation (TSX-V: DV | NYSE-A: DVS | FSE: DVQ) (the "Company" or "Dolly Varden") is pleased to announce that, further to its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest BC’s Golden Triangle (the “Transaction”). The Kinskuch Property is adjacent to the Company’s Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle.
Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company (“Hecla”) for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company (“Common Shares”) to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the “NSR”). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden’s Technical Committee, working together to unlock the potential of the underexplored areas.
About the Kinskuch Property
The Kinskuch Property is contiguous on the east and south of Dolly Varden’s Kitsault Valley Project, and through the acquisition Dolly Varden will increase the mineral tenure holdings and triple the total strike length of favorable Jurassic age Hazelton-group volcanic rocks and associated “Red Line” by adding the Illiance trend to the Kitsault Valley trend. Both the Kitsault Valley and the Illiance trends are interpreted to be part of a district scale, sub-basin of the Eskay Rift period. The Illiance trend has seen little modern exploration work, limited to localized diamond drilling by Hecla on the three kilometer long, north-south trending Illy epithermal system.
Also included within the acquisition area is the past producing Esperanza Mine (1910), interpreted as quartz-carbonate veins with similar silver grades to the historic Dolly Varden Mine (1920) hosted in Upper Hazelton sedimentary rocks. The Esperanza Mine is located along the Kitsault Valley access road, two kilometers north of Dolly Varden’s camp in Alice Arm, BC.
The southwestern portion of the acquired claims covers Hazelton Group rocks that trend to within seven kilometers of Goliath Resources Limited’s recently discovered Surebet Zone gold mineralization.
The area within the Kinskuch Property that trends south of Big Bulk has the potential to host additional gold-copper porphyry systems along the south trend towards the Kitsault molybdenum porphyry deposit, which is being actively advanced by New Moly LLC.
Figure 1: The location of the Kinskuch Property is shown in blue , the location of the Porter Property is shown in green (the acquisition of which was announced in a news release dated May 23, 2025), and the location of the MTB Metals Corp. properties are show in orange (the proposed acquisition of which was announced in a news release dated May 15, 2025 and which is not yet complete).
Further Information
Hecla is considered a “related party” of the Company pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") on account of Hecla owning 10,606,374 Common Shares of Dolly Varden, representing approximately 13.3% of the outstanding Common Shares. As such, the Transaction is considered a “related party transaction” pursuant to MI 61-101. The Transaction is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a), respectively, as the value of the Common Shares issuable pursuant to the Transaction will not exceed 25% of the Company's market capitalization.
The Transaction was negotiated by disinterested members of management of Dolly Varden and Hecla. The Transaction was unanimously approved by the disinterested members of the Dolly Varden Board of Directors.
The Common Shares issuable to Hecla will be subject to a four-month statutory hold period in accordance with applicable securities laws. No finder’s fees or commissions are payable by the Company in connection with the Transaction.
The securities described in this release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the laws of any state or other jurisdiction of the United States. These securities may not be offered or sold in the United States absent such registration or an available exemption therefrom. This release does not constitute an offer to purchase or a solicitation of an offer to buy securities in any jurisdiction.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden, the "Qualified Person" as defined by NI 43-101 has reviewed and approved the scientific and technical information contained in this news release. Rob van Egmond, P.Geo. is not independent of the Company in accordance with NI 43-101.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Property, the Homestake Ridge Property and the Kinskuch Property) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 770 sq. km. 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 that trends south onto the Kinskuch Project. This porphyry belt is similar in age and mineralization style to other such deposits in the region (Red Mountain, KSM, Red Chris). Approximately 20 km northwest of the Kitsault Valley Project, Dolly Varden also has the Porter Property which hosts the past producing Porter Idaho silver mine and potential for additional high-grade silver in epithermal veins.
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Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", "prospective" and similar expressions. Such forward-looking statements included in this news release include the proposed benefits of Kinskuch and Porter Properties to the Company, and the proposed acquisition of the MTB Metals Corp properties. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company's annual information form ("AIF") dated April 30, 2025 for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca, and in the Company's Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at www.sec.gov. The risk factors identified in the Company’s public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
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May 7, 2025 Dolly Varden Silver News Release Explained
Dolly Varden Acquires High-Grade Silver Porter Project in Golden Triangle
Newsfile Corp.
Thu, May 8, 2025 at 8:00 AM EDT
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE: DVS) (FSE: DVQ) (the "Company" or "Dolly Varden") is pleased to announce that it has entered into a definitive agreement with Strikepoint Gold Inc. ("Strikepoint") to acquire Strikepoint's interest in the Porter Project (the "Project"), located in the Golden Triangle, British Columbia (the "Acquisition"), further strengthening Dolly Varden's position as a prominent precious metals exploration Company in the region.
"Dolly Varden is acquiring a 100% interest the highest grade, pure silver historic producer in northwest BC. The Porter Project has seen historic silver production that produced significant direct-shipping silver ore and hosts substantial known silver mineralization that is wide open for expansion. This Project is an accretive addition to our growing mineral tenure position in the southern Golden Triangle," said Shawn Khunkhun, President and CEO of Dolly Varden.
Highlights
Acquisition of Strikepoint's interest in 15 contiguous claims and 46 crown grants, encompassing an area of approximately 3,192 hectares.
Exploration potential of the Project includes the potential of connecting the high grade historic silver mines of Porter Idaho and Silverado that are separated by 2,350 meters of untested potential.
The Project is located 35 kilometers northwest of the silver deposits on Dolly Varden's Kitsault Valley Project, just four kilometers from the town of Stewart and 21 kilometers southeast of Ascot Resource's Premier mine and mill.
Transaction Details
Dolly Varden has agreed to purchase from Strikepoint all of its interests to the Project for consideration of $1,100,000, which shall be satisfied by Dolly Varden issuing to Strikepoint 295,699 common shares of Dolly Varden (the "Consideration Shares"), to be issued to Strikepoint at a deemed price of $3.72 per Consideration Share.
The issuance of the Common Shares and completion of the Acquisition remains subject to TSXV and NYSE America approval and other customary conditions and is currently expected to occur in the second half of May. The Company has agreed to use commercially reasonable efforts to promptly make all filings and take all necessary actions required to effect the Acquisition, including the issuance of the Consideration Shares. The Company intends to file a prospectus supplement to its base shelf prospectus dated April 25, 2023 to qualify the distribution of the Consideration Shares to Strikepoint.
About the Porter Project
Figure 1: Location Map -Porter Project in relation to Kitsault Valley and Infrastructure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/251257_328b658a04c01ae5_002full.jpg
The Porter Project contains two shear hosted silver-rich vein systems: the historic Silverado mine and Prosperity-Porter Idaho mines that are separated by a 2,350 meter long unexplored trend. Veins at both sites run at a similar orientation, therefore it is hypothesized that the system may be continuous under the summit of Mount Rainey, overlooking the town of Stewart. The Project is strategically located at the head of the Portland Canal, a deep-water port with year-round, ice-free access.
Figure 2: Schematic section looking northeast of Exploration Potential between historic silver mines
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/251257_328b658a04c01ae5_003full.jpg
Since the initial discovery of silver mineralization on Mt. Rainey in the early 1900's, most of the work was focused on the Prosperity-Porter Idaho veins, where mineralization is hosted in six dipping parallel shear zones with strike extents of up to 600 meters, down dip extents of up to 500 meters and widths between 2 and 13 meters. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes of direct shipping ore with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to the port at Stewart via aerial tramway.
Exploration drilling at the Porter Project to date includes 11,702.64 metres in 73 diamond drill holes and 1,768 meters in 226 percussion drill holes.
The Porter Project contains a Historical Mineral Resource Estimate consisting of 394,700 tonnes grading 868 g/t silver, 3.37% lead and 1.41% zinc (435,000 tons @ 25.2 oz/ton silver or a contained 11 million ounces) in the Indicated category and 88,900 tonnes grading 595 g/t silver (97,900 tons @ 17.3 oz/ton silver or a contained 1.7 million ounces) in the Inferred category.
The source of the Historical Mineral Resource Estimate is a technical report titled "Technical Report on the Prosperity - Porter Idaho - Silverado Silver Property" dated March 10, 2008 and was prepared by independent consulting geologist N.C. Carter, Ph.D., P. Eng. for Raimount Energy Inc. The Historical Mineral Resource Estimate was re-stated for Mount Rainey Silver Inc. on May 15, 2012. The foregoing estimates made use of an extensive database up to 1985 detailing results of both underground sampling programs as well as surface and underground diamond and percussion drilling to complete a polygonal estimate that was prepared pursuant to CIM Standards on Mineral Resources and Reserves. The Historical Mineral Resource Estimate is relevant to shareholders' understanding of the Porter Idaho Project and its future potential. Nevertheless, the reader is cautioned that a Qualified Person on behalf of Dolly Varden has not done sufficient work to verify either the underlying sampling data or the calculation methodology to consider this to be a current resource and as a result, Dolly Varden is treating this mineral resource as an Historical Estimate, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Shareholders should not rely on the Historical Mineral Resources Estimate as a current mineral resource estimate. Dolly Varden has not yet determined the extent of work needed to upgrade or verify the Historical Estimate.
Further Information
While Strikepoint and Dolly Varden are not considered to be "related parties" pursuant to applicable securities laws, the parties are considered to be "non-arm's length parties" pursuant to the policies of the TSXV on account that Shawn Khunkhun, Chief Executive Officer, President and a Director of Dolly Varden is also the Executive Chairman and Director of Strikepoint. The terms of the Acquisition were negotiated by disinterested members of management of Strikepoint and Dolly Varden. No finders fees or commissions are payable by the Company in connection with the transaction.
Pursuant to existing agreement between the Company and Hecla Canada Ltd. ("Hecla"), Hecla will be entitled to acquire common shares of Dolly Varden ("Pre-Emptive Shares") in connection with Acquisition at a price of $3.72 per Pre-Emptive Share, to maintain its pro rata equity interest in the Company. If Hecla exercises its pro rata rights, any Pre-Emptive Shares issued will be in addition to those issued as part of the Acquisition.
The securities described in this release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the laws of any state or other jurisdiction of the United States. These securities may not be offered or sold in the United States absent such registration or an available exemption therefrom. This release does not constitute an offer to purchase or a solicitation of an offer to buy securities in any jurisdiction.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden, the "Qualified Person" as defined by NI 43-101 has reviewed and approved the scientific and technical information contained in this news release. Rob van Egmond, P.Geo. is not independent of the Company in accordance with NI 43-101.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% 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 kms by road to tide water. The 163 sq. km. 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, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", "prospective" and similar expressions. Such forward-looking statements included in this news release include: the description of the transaction to be completed with Strikepoint, the proposed timing of closing of the Acquisition, the steps required to complete the Acquisition; information regarding the Historical Mineral Resource Estimate, the potential of Hecla to acquire the Pre-Emptive Shares and the proposed benefits of completing such transaction. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company's annual information form ("AIF") dated April 30, 2025 for the year ended December 31, 2023, which is available on SEDAR+ at www.sedarplus.ca, and in the Company's Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at www.sec.gov. The risk factors identified in the Company's public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251257
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Dolly Varden Silver Announces 2025 Exploration Program Focused on High-Grade Silver and Gold at Kitsault Valley
May 7, 2025
VANCOUVER, BC, May 07, 2025 – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (the “Company” or “Dolly Varden“) is pleased to announce plans for the fully funded 2025 exploration drilling program at its 100% owned Kitsault Valley Project. The aggressive drill program planned for the Kitsault Valley Project located in the newly emerging southern Eskay Rift sub-basin in northwest BC’s Golden Triangle, will consist of a minimum planned 35,000 meters of diamond drilling building on the success of the 2024 program. Drilling will focus on expanding high-grade mineralization at the Wolf and Homestake Silver deposits and will follow up on promising results from numerous exploration targets including Red Point and Moose. The program will also include deep drilling at the Big Bulk copper-gold porphyry target. Drilling will commence in mid-May with four rigs expected to be active throughout the season.
“We are following up on some of the strongest silver and gold intercepts we’ve seen to date as we grow the known deposits, while also targeting new areas with district-scale potential,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “The goal for 2025 is to grow the resource base and continue demonstrating the scale of the Kitsault Valley Project.”
Figure 1. Targets for the 2025 Exploration program along Dolly Varden’s Kitsault Valley Trend
Program Highlights
Wolf Deposit
At the Wolf Vein drilling will target the extension of the southwesterly plunging, high grade silver corridor along strike and at depth, with the aim to further expand the zone. Directional drilling technology will again be employed to accurately intersect the steeply dipping vein with priority on aggressive step outs from the furthest west step out drill hole from 2024, DV24-421 that intersected 379 g/t Ag, 0.64%Pb and 0.66% Zn over 21.69 meters, including 1,804 g/t, 4.36% Pb and 3.10% Zn over 1.67 meters (from previous release: January 7, 2025).
Alteration and structural studies recently completed indicate that the vein mineralization at Wolf is becoming consistently more robust with a higher temperature alteration signature towards the southwest extension, as it approaches the projection of the central valley/Moose Lamb, basin bounding fault system that connects through from the Torbrit Silver Deposit. The step out drilling planned for 2025 will target the intersection of the two main structures interpreted to be the source of Wolf silver mineralization.
Figure 2. 2025 Exploration Program Target areas -Wolf long section with 2024 drilling highlighted (from previous release: January 7, 2025)
*Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.
Homestake Silver
Drilling at the Homestake Silver deposit will continue to define and expand the gold and silver-rich plunge zone interpreted utilizing assay results and structural data from the previous season’s drilling. Step out drilling from 2024 drillholes HR24-431, which intersected 21.55 g/t Au and 27 g/t Ag over 8.72 meters and drill hole HR24-433 which intersected 35.05 g/t Au and 114 g/t Ag over 2.32 meters(both from previous release: February 3, 2025) will be completed. Also, local infill within the wider high-grade plunge where drillhole HR-437 intersected 21.34 g/t Au and 384 g/t Ag over 2.40 meters (previous release: February 3, 2025) is planned towards resource work.
The program will test the projected trend and the down dip extent of the structurally controlled system, which shows strong continuity and upside.
Figure 3. Homestake Ridge Longitudinal section looking southwest highlighting previous 2024 results of wide, high-grade plunge and gold zone at Homestake Silver with 2025 target areas. (results shown from previous release February 3, 2025)
*Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated
Moose Vein
The Moose Vein is located 1.5 km north of the Wolf Vein with silver mineralization intersected by drilling in an epithermal vein similar to Wolf. Follow-up drilling will test down-plunge extensions from drill hole DV24-387 that intersected 977 g/t Ag over 5.00 meters, including 3,670 g/t Ag over 0.79 meters (from previous release: Jun 19, 2024).
Red Point
The Red Point target is on the west side of the Kitsault River trending northwest towards the Homestake Ridge deposits 6 kilometers northwest. Red Point is a known broad quartz sericite pyrite alteration zone with high grade gold values within stockwork zones. Reinterpreted downhole structural data highlights high grade structural corridors that will be tested during the 2025 season. Follow-up drilling planned for 2025 will test the extent of the new hypothesis based on drill hole DV24-400 that intersected 21.10 g/t Au over 0.50m, within a broader zone averaging 0.79 g/t Au over 20.15 meters (from previous release: January 7, 2025) from an intense quartz sericite stockwork.
Big Bulk
Located approximately 5 kilometers to the east of the main Kitsault Valley trend, the Big Bulk area is a large, underexplored Cu-Au porphyry system where copper and gold mineralization in stockwork veining has been intersected by previous operators (Anglo Gold Ashanti in 2009 and Libero Copper & Gold Corp in 2021) along the margin of the associated alteration system. The 2025 program will include deep drilling to test the northeast trending mineralized system based on updated geological interpretation and mapping. The target is prospective for both copper-gold porphyry and skarn-style mineralization, analogous to nearby Red Mountain and KSM deposits.
Figure 4: Locations of Project wide exploration targets for 2025 season with green Hazelton Group rocks shown.
Property Exploration Targets
Exploration targets on both the Homestake Ridge and Dolly Varden properties include targets within the 5.4 km long area between the southern end of Homestake Silver and Wolf Vein, under the mid-valley sedimentary cap rocks. Additionally, geophysical targets west of the Homestake Main deposit will be tested, within parallel basin bounding structures similar to those hosting the Homestake Main and Homestake Silver deposits.
With the recently announced proposed acquisition of the adjacent Kinskuch Project area from Hecla Mining Co. an initial program of geological mapping and reconnaissance of the prospective Jurassic age Hazelton Group rocks of the under explored 30-kilometer eastern Illiance trend and western Surbet (Goliath Resources Ltd.) hosting trend are also planned for the 2025 exploration season, once the acquisition completes later this month. Combined with the results of ongoing data compilation, this planned field work will generate priority drill targets that could be tested later in the 2025 season if timing and budget allow.
Other studies on road access, advanced metallurgy, wildlife, and baseline environmental monitoring as well as field mapping in underexplored areas of the property will be completed.
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30 gram split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project. Rob van Egmond, P.Geo. is not independent of the Company in accordance with NI 43-101.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% 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 kms by road to tide water. The 163 sq. km. 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, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, “prospective” and similar expressions. Such forward-looking statements included in this news release include: the 2025 drill program at the Kitsault Valley Project; the timing of the 2025 drill program; results of the mineral resource estimate on the project; the potential to grow the Kitsault Valley Project; the potential to expand the mineralization; and our beliefs about the unexplored portion of the property. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company’s annual information form (“AIF“) dated April 30, 2025 for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca, and in the Company’s Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at www.sec.gov. The risk factors identified in the Company’s public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;
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© 2025 Dolly Varden SIlver Corp
https://dollyvardensilver.com/dolly-varden-silver-announces-2025-exploration-program-focused-on-high-grade-silver-and-gold-at-kitsault-valley/
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Dolly Varden Silver Announces Agreement to Quadruple Tenure Area in the Golden Triangle by Acquiring Hecla Mining Company's Adjacent Kinskuch Property
Newsfile Corp.
Mon, May 5, 2025 at 8:00 AM EDT
Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ1) (the "Company" or "Dolly Varden") is pleased to announce that it has entered into a definitive agreement to acquire 100% of Hecla Mining Company's ("Hecla") Kinskuch property in northwest BC's Golden Triangle (the "Transaction"). The Transaction will consolidate a district scale, contiguous claim package that includes the Kitsault Valley, Big Bulk and Kinskuch projects. This consolidation of Hecla and Dolly Varden's project areas dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle.
"Consolidating Dolly Varden's Kitsault Valley Project with our major shareholder Hecla's large and underexplored claims covering prospective Hazelton Group rocks will allow for more efficient exploration and enable us to unlock value on our path to be a premier precious metals company. Additionally, we welcome Hecla's increased share ownership in our Company," stated Shawn Khunkhun, President and CEO of Dolly Varden.
Dolly Varden has agreed to purchase the Kinskuch property from Hecla for consideration of $5 million, which shall be satisfied by Dolly Varden issuing 1,351,963 common shares of the Company ("Common Shares") to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch property area (the "NSR"). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden's Technical Committee, working together to unlock the potential of the underexplored areas.
The issuance of the Common Shares and completion of the Transaction remains subject to TSX Venture Exchange and NYSE America approval and other customary conditions and is currently expected to complete in mid May. The Transaction will increase Hecla's ownership in Dolly Varden, leveraging the experience of Dolly Varden's technical team to explore two separate, 30-kilometer-long trends of Hazelton Group rocks.
"We will be using our structural and lithological framework model developed at the Kitsault Valley Trend that has led our team to significant discoveries such as the Wolf Vein and applying them to exploration of the Illiance Trend. Hecla was successful in identifying a subparallel trend of silver-rich mineralization, located to the east of our significant silver and gold deposits," states Rob van Egmond, VP Exploration for Dolly Varden.
Dolly Varden Silver Announces Agreement to Quadruple Tenure Area in the Golden Triangle by Acquiring Hecla Mining Company's Adjacent Kinskuch Property.
Dolly Varden's increased mineral tenure holdings will triple the total strike length of favorable Jurassic age Hazelton-group volcanic rocks and associated "Red Line" by adding the Illiance trend to the Kitsault Valley trend. Both the Kitsault Valley and the Illiance trends are interpreted to be part of a district scale, sub-basin of the Eskay Rift period. The Illiance trend has seen little modern exploration work, limited to localized diamond drilling by Hecla on the three kilometer long, north-south trending Illy epithermal system.
Also included within the acquisition area is the past producing Esperanza Mine (1910), interpreted as quartz-carbonate veins with similar silver grades to the historic Dolly Varden Mine (1920) hosted in Upper Hazelton sedimentary rocks. The Esperanza Mine is located along the Kitsault Valley access road, two kilometers north of Dolly Varden's camp in Alice Arm, BC.
The southwestern portion of the acquired claims covers Hazelton Group rocks that trend to within seven kilometers of Goliath Resources' recently discovered Surebet Zone gold mineralization.
The area south of Big Bulk has the potential to host additional gold-copper porphyry systems along the south trend towards the Kitsault molybdenum porphyry deposit, which is being actively advanced by Newmoly llc.
The Kinskuch property is covered by a recently renewed five-year Exploration Permit on both Nisga'a and Gitanyow Traditional Lands.
To view an enhanced version of this graphic, please visit:
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Hecla is considered a "related party" of the Company pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") on account of Hecla owning 10,606,374 Common Shares of Dolly Varden, representing approximately 13.3% of the outstanding Common Shares. As such, the Transaction is considered a "related party transaction" pursuant to MI 61-101. The Transaction is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a), respectively, as the value of the Common Shares issuable pursuant to the Transaction will not exceed 25% of the Company's market capitalization.
The Transaction was negotiated by disinterested members of management of Dolly Varden and Hecla. The Transaction was unanimously approved by the disinterested members of the Dolly Varden Board of Directors.
The Common Shares issuable to Hecla will be subject to a four-month statutory hold period in accordance with applicable securities laws. No finder's fees or commissions are payable by the Company in connection with the Transaction.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the "Qualified Person" as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project. Rob van Egmond, P.Geo. is not independent of the Company in accordance with NI 43-101.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. 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, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", "prospective" and similar expressions. Such forward-looking statements included in this news release include: the description of the transaction to be completed with Hecla, the proposed timing of closing of the Transaction, the steps required to complete the Transaction and the proposed benefits of completing such transactions. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company's annual information form ("AIF") dated March 28, 2024 for the year ended December 31, 2023, which is available on SEDAR+ at www.sedarplus.ca, and in the Company's Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at www.sec.gov. The risk factors identified in the Company's public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
https://finance.yahoo.com/news/dolly-varden-silver-announces-agreement-120000815.html
Weekly Chart
Dolly Varden Silver Engages Marketing Services
Vancouver, British Columbia – April 17, 2025 – Dolly Varden Silver Corporation (TSXV: DV | OTCQX: DOLLD | FRA: DVQ) (the “Company” or “Dolly Varden”) announces that it has entered into a marketing services agreement with LFG Equities Corp. (''LFG'') to provide strategic advice and digital media and marketing services to the Company. LFG, a Toronto-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, LFG will be paid $150,000 USD over the course of the initial term with US$90,000 paid upon signing, US$10,000 paid in advance of the second month and US$50,000 paid in advance of the third month. The initial term is 3 months but may be extended at the discretion of the Company.
LFG’s business address at 402-9140 Leslie St., Richmond Hill, ON, L4B 0A9. LFG is an arm’s length party to the Company. LFG does not have any interest, directly or indirectly, in the Company or its securities or any right or intent to acquire such an interest at this time, however LFG and its clients may acquire an interest in the securities of the Company in the future. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. 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, Red Chris).
Weekly Chart
dolly enters big league now
dollar should fall tomorrow thursday 3-27 and gold should have strong up day.
gold should have good move today.. 4 white trash in a dink
rocket science, ag comes from canada and mexico
gold is gonna go crazy now expect 100 move
buy in in au futures 2640 today 01-03
i expect dollf to buy ascot
2703 now easy money
fib retrace on au futures 38% was 2650, so good buy in
Silver Shortage Explained: Mining, Demand, and Inflation | Shawn Khunkhun - Dolly Varden Silver
Could the Silver Price Really Hit $100 per Ounce? (Updated 2024)
https://investingnews.com/daily/resource-investing/precious-metals-investing/silver-investing/silver-in-the-future/
A Silver All-Time High in 2026! | Dolly Varden Silver Corp - Shawn Khunkhun
2.1K views 10 days ago
Hycroft Mining & Dolly Varden Silver: Fireside Chat
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Dolly Varden Silver Corporation owns 100% of the Dolly Varden Mines historic silver property. The current favourable price of silver has renewed investor interest in this most historic of the silver mines in the Northwestern BC region. The property is best considered an advanced exploration stage property with well understood targets. Mine restarts will require the discovery of additional silver mineral resources and the confirmation of historic mineral resources that were known at the cessation of mining in 1959.
Geological work commissioned in the period 1979 to 1990 established the common geological characteristics of the major silver deposits and occurrences in the upper Kitsault Valley. The rock formations and the style of the mineralization and alteration on the Dolly Varden property share strong similarities to the nearby Eskay Creek deposit, which is an exceptionally rich gold and silver deposit, located 100 km north of the Dolly Varden Property.
located 100 km north of the Dolly Varden Property.
| Major nearby projects: | |
| Eskay Creek (Barrick) Historic Production | 3.6 M oz Au + 180 M oz Ag |
| Brucejack (Pretium) | 8.2 M oz Au + 116.2 M oz Ag |
| Silback Premier (Ascot) Historic Production | 1.9 M oz Au + 42.8 M oz Ag |
| Kerr-Sulphurets (Seabridge Gold) | 38.5 M oz Au + 214 M oz Ag |
| BC Moly (Avanti) |
*See home page for NI43 101 required disclosure on this historic resource estimate
The geology underlying the Dolly Varden property consists of volcano-sedimentary rocks belonging mostly to the lower and middle Jurassic Hazelton Group. These include intermediate volcanic and volcaniclastic rocks of the Betty Creek Formation and bimodal volcanic and sedimentary rocks of the Salmon River Formation.
The principal silver-base metal deposits of the Kitsault River valley have been interpreted as vein mineralization by early workers. Devlin (1986) reinterpreted the main deposits to be volcanic exhalative in origin. Deposits of this type are formed as sub-aqueous hot-spring type deposits on the seafloor, as products of hydrothermal solutions that have vented from sub-seafloor fracture and fault systems. Furthermore, the silver deposits of the upper Kitsault valley are mapped with important geological similarities to the Eskay Creek deposit, providing an analog for exploration on the Property.
The most prominent mineralized zone on the Property is an aerially extensive sheet of chemical sediment (“exhalative”) mineralization (the “DVT Exhalite”) that extends from the Dolly Varden mine, on the west, passing though the North Star underground workings and ending in the Torbrit mine, on the east. The DVT Exhalite body forms an almost continuous sheet, mostly ranging in true thickness from 3 to 38 m, which extends from the Dolly Varden West zone to Moose-Lamb. It is exposed for a strike length of 1.5 km on surface and is truncated on both extremities by late faults of unknown displacement. Separate from the DVT Exhalite body, the Red Point zone (on the western fringe of the upper Kitsault Valley) and the Wolf (on the eastern side of the valley) each have geological similarities to the targeted hydrothermal vein and sub-aqueous hot spring geology but might share a position higher in the volcanic stratigraphy than the DVT horizon.
Dolly Varden Silver Corp (TSX.V:DV)
www.dollyvardensilver.com
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