Dolly Varden Silver Appoints Interim CEO & President and Provides Update on Board of Directors

VANCOUVER, BC--(Marketwired - January 23, 2015) - Dolly Varden Silver Corp. (TSX VENTURE: DV) (OTCBB: DOLLF) ("Dolly Varden" or the "Company") announces that the Board has appointed Rosie Moore as interim CEO & President of the Company effective immediately. Ms. Moore is being seconded, on a full-time basis, from her position as a consultant with Hecla Mining Company. Hecla is, indirectly, the Company's largest shareholder. 

Ms. Moore is a consulting geologist and analyst. Prior to her work for Hecla, she was a partner/analyst with Geologic Resource Funds (GRF), a Boston-based, mining-focused, globally invested equity hedge fund. Ms. Moore's 30-year career in mining and metals began as a site exploration geologist on projects in Nevada, Yukon, Peru and Labrador, before taking on corporate management and analyst roles at Diamond Fields Resources Inc., Yorkton Securities, Pan American Silver Corp. and Bear Creek Mining Corp.. She then transitioned into an investment and capital markets focus at GRF and in recent consulting work. Ms. Moore has served as Hecla's nominee to the board of Dolly Varden since 2013. She was formerly a director of Continental Gold Ltd. and was CEO and a director of Geoinformatics Exploration Inc., managing its take-over of Rimfire Minerals Corp. to yield Kiska Metals Corp.. Ms. Moore holds BS and MS degrees in Geology from Kent State University in Ohio.

Ms. Moore commented: "The Dolly Varden property is located in a highly prospective geologic setting, in the same tectonic belt that hosts the Eskay Creek and Brucejack deposits, among others in northwestern BC. The project merits a dedicated, integrated and methodical team approach to identify priority targets for exploration in 2015, building off of a successful 2014 exploration program. I am excited about the work ahead and also look forward to meeting and sharing the Company's story with shareholders and partners in the weeks and months to come."

Phillips S. Baker, Jr., Hecla's President and CEO commented: "Hecla is pleased to assist Dolly Varden in this time of transition by seconding Rosie for this position. With her experience she is well equipped to lead the Company."

To allow for Ms. Moore's appointment, the Company's former CEO & President, George Heard, P.Eng. has resigned. Mr. Heard has also stepped off of the Company's board. The Company would like to thank Mr. Heard for his dedicated work over the past year as President and CEO and for his role as a director prior to that.

In addition, John King Burns has returned from a leave of absence and will serve as Co-Chairman of the Board with Allan Marter. Both serve on a non-executive basis.

As CEO & President of the Company, Ms. Moore will no longer serve as Hecla's nominee to Dolly Varden's board. Under Hecla's Ancillary Rights Agreement with the Company, Hecla will be entitled to nominate another representative to the board.

About Dolly Varden
Dolly Varden Silver Corp. is a mineral exploration company focused on the exploration of the Dolly Varden silver property located in northwestern British Columbia, Canada. The entire Dolly Varden property is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other, on-trend, high-grade deposits (Eskay Creek, Brucejack). 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.

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

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.