Dolly Varden Silver: Commences 8,000 Meter Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 10, 2014) - Dolly Varden Silver Corp. (TSX VENTURE:DV)(OTCBB:DOLLF) ("Dolly Varden" or the "Company") is pleased to announce that, following the recent successful completion of a $5.7 million financing, the Company has commenced a diamond drill program of up to 8,000 meters, or 20 holes, on the Dolly Varden property, located 26 km by road from tidewater at Alice Arm, in Northwestern British Columbia.

The exploration program is designed to test numerous defined drill-ready epithermal and Eskay-Creek style targets, as well as expand known silver mineralization on the Torbrit-Red Point corridor, where last year's drill program intercepted a 17.1m interval grading 509 g/t silver.

The three drilling/exploration zones are:

1. Torbrit-Red Point Corridor - following known silver mineralization to the northeast underneath Red Point, an Eskay-Creek style target;
2. Musketeer Corridor - which runs along the East side of the Kitsault river with numerous silver-rich epithermal vein-type showings with strong potassic radiometric signatures; and
3. Wolf-Surprise Corridor - where an Eskay-Creek style host formation containing silver-rich VMS mineralization was identified by the Company's 2011 drill program.

See news releases of April 29, 2014, May 6, 2014, and May 22, 2014 for descriptions of the targets and exploration corridors and visit www.dollyvardensilver.com for additional information on the property and last year's drill program.

The exploration team has completed 8 drill pads, to date, within the three targeted corridors.

The first drill hole has been located to test for mineralization underneath Red Point.

Ongoing prospecting, geologic mapping, and geochemical soil sampling is continuing to infill and expand the favorable trends identified with the recently completed first phase field program (see news release of September 5, 2014). Results from this follow-up work are expected to provide additional drill targets that will be added to the later part of the drill program.

Please visit www.dollyvardensilver.com for additional project and Company information.

About Dolly Varden

Dolly Varden Silver Corp. is a mineral exploration company focused on the exploration and development of the Dolly Varden silver property located in Northwestern British Columbia, Canada. The Dolly Varden silver property consists of 6,400 hectares that includes four well-defined high grade silver deposits, two of which have seen historical production totaling 20 million ounces of silver. All four deposits have remaining historical mineral resources and are situated in the same geologic setting as the past-producing Eskay Creek deposit. The Company has two near-term objectives for creating value at the Dolly Varden silver project: 1) confirm and expand the existing historical silver mineralization, and 2) explore and discover major Eskay Creek-type gold and silver rich VMS targets and large epithermal systems. The Company's common shares are listed and traded on the TSX-V under the symbol DV and on the OTCBB system under the symbol DOLLF.

Technical Information

Ron F. Nichols, P.Eng. of Dolly Varden, who serves as a Qualified Person under National Instrument 43-101, supervised the preparation of the scientific and technical information concerning this news release. Further information regarding the Dolly Varden silver property, including that relating to historical production and resource estimates, can be found on the company's website and in the Company's Geology and Mineral Exploration of the Dolly Varden Property, Technical Report, dated September 5, 2011.

Forward-looking statements

Statements in this release that are forward-looking statements, including the timing of commencement, size and scope and results of contemplated exploration programs on the Dolly Varden silver property and assumptions about the geological characteristics of the property (including the existence of any gold and silver mineralization), are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's periodic filings with Canadian securities regulators. When used in this document, the words such as "expected," "planned", "forecast", "scheduled" "targeting" and similar expressions are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

All such forward-looking information and statements are based on certain assumptions and analyses made by Dolly Varden Silver Corp. in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the Company's most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking information or statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.