Eric Sprott Announces Holdings in Dolly Varden Silver Corporation

Toronto, June 11, 2020 - Eric Sprott announces that, on June 10, 2020, he purchased 8,969,696 flow-through common shares of Dolly Varden Silver Corp., on a private placement basis, representing approximately 8.62% of the outstanding common shares (shares) on a non-diluted basis, at price of $0.33 per flow-through share for aggregate consideration of approximately $2,960,000.

Mr. Sprott now owns or controls 19,683,982 shares (representing approximately 18.93% of the outstanding shares). Prior to the acquisition, Mr. Sprott beneficially owned or controlled 10,714,286 shares (representing approximately 12.76% of the then outstanding shares).

Mr. Sprott acquired the flow-through shares for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Dolly Varden Silver including on the open market or through private acquisitions or sell securities of Dolly Varden Silver including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Dolly Varden Silver is located at Suite 1800-555 Burrard Street, Vancouver, BC V7X 1M9. A copy of Mr. Sprott's early warning report will appear on Dolly Varden Silver's profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's office (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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