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Dolly Varden Silver: New Geochemical Results Identify New Potential Zones and Further Refine Targeting for 2014 Drill Program

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/05/14 -- Dolly Varden Silver Corporation (TSX VENTURE: DV)(OTCBB: DOLLF) has successfully completed the preliminary surface phase of its 2014 summer field program and has dispatched drill crews to prepare for the 2014 drill program on the Dolly Varden Property, located 26 km by road from tidewater at Alice Arm, in Northwestern British Columbia.

This preliminary field program further refined the location and orientation of several of our drill-ready Eskay-Creek style and epithermal "DVT" targets; generated a number of additional specific drill targets on known mineralized horizons; and identified several new zones with mineral potential on other areas of the property.

Additional, geologic and structural mapping was also completed over areas targeted for the 2014 diamond drill program. This mapping has confirmed the layout of the initial drill holes planned for 2014.

The field program involved a geochemical survey where 970 soils, 28 silts, and 6 heavy mineral samples were collected over selected areas on the property. Highlights of the results from the soil surveys include:

1.  The surface trace of the DVT Horizon, the horizon which hosts the high-
    grade silver mineralization at the Torbrit and Dolly Varden mines, is
    clearly indicated by the soil surveys and this technique can be
    confidently used to search for extensions of the DVT Horizon. See figure

2.  Numerous promising multi-element anomalous trends were located along the
    prospective sediment-volcanic contact of the Salmon River Formation in
    areas with no previously known showings. These anomalous trends display
    similar geochemical signatures to those found at Eskay Creek, and remain
    open to the north of the sampled area. See figure 2.

3.  Strong geochemical response within the airborne radiometric anomaly that
    has been outlined on the east side of the Kitsault River is outlining
    some possibly significant trends that could be related to structurally
    controlled epithermal mineralization. See figures 1 and 2.

4.  Anomalous gold - silver results from silt samples taken north of the
    gridded area underlain by Salmon River Formation points to additional
    potential on the northern portion of the property.

Associated maps are available at www.dollyvardensilver.com and at the following links:

Figure 1

Figure 2

This successful first phase of the geochemical sampling will now be followed up by 1) sampling along step out grid lines on all open anomalous areas, and 2) detailed infill sampling, prospecting and geologic mapping. We expect the follow on work, to produce and/or confirm several new drill targets.

The drill crews and support teams have been deployed and are working on the site, with an announcement describing the 2014 drilling program to be released shortly.

George Heard, President, commented, "We are very pleased with the results and the additional information provided by this fieldwork. Our multi-disciplinary approach integrating geochemical and geophysical data, through our highly regarded technical advisory committee, is providing the necessary interpretation to refine the targeting and identify new zones for our 2014 drill program."

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

About Dolly Varden

Dolly Varden Silver Corporation 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 Corporation 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.

Vanguard Shareholder Solutions
Martin Gagel, MBA, CFA
Vice President
604-608-0824 or Toll Free: 1-877-608-0829

Dolly Varden Silver Corporation
George Heard, P. Eng.
CEO and President

Dolly Varden Silver Corporation

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