Vancouver, British Columbia (FSCwire) - (TSX.V: DV | U.S.: DOLLF): Dolly Varden Silver Corporation (“Dolly Varden” or “the Company”) announces assay results from its 2015 exploration diamond drill program at its Dolly Varden property, located in northwestern British Columbia. Ten holes were completed for a total of 2,037 meters of drilling: six at Ace-Galena, three at Kitsol and one structural and stratigraphic test. Drilling confirmed the presence of volcanogenic massive sulphides (VMS) mineralization at the Ace-Galena target and intersected a new, epithermal quartz vein and breccia, with high-grade silver, also at Ace-Galena.

The known Dolly Varden deposits exhibit both VMS (Eskay-like) and epithermal (Brucejack-like) mineralization styles which were the focus of the Company’s maiden 43-101 mineral resource estimate completed in August 2015 (available on the Dolly Varden website and at www.sedar.com). This resource remains open to expansion and enhancement. However, the goal of the 2015 drill program was to explore distal targets on the property identified by surface mapping and sampling as having similar high-grade potential in the northern half of the property, where lithologies, alteration and geochemical signatures extend on surface from the property’s historic mines, located on the southern portion of the property.

Historic trench and recent surface samples at the McKay showing on Ace-Galena returned assays of up to 3,360 grams/tonne (g/t) of silver over 1.3 meters. The Ace-Galena trend is projected to extend over a distance of 5 kilometers to the Sault showing, also in the northern half of the Dolly Varden property. The 2015 drill holes at Ace-Galena were targeted to examine this VMS horizon down dip and along trend of the projected system as a first test of its continuity. All of the 2015 Ace-Galena drill holes intercepted highly anomalous silver, lead and zinc mineralization in VMS horizons. Logged lithology, alteration and mineralization confirm the presence of VMS-style, syngenetic, stratiform “layers” that host mineralization in this prospective rock package. Rosie Moore, Director and interim CEO of Dolly Varden commented, "We are very encouraged by the results from this new exploration confirming the subsurface extent of VMS style mineralization at Ace-Galena. Preliminary interpretation of these first modern drill holes in this system suggests that mineralization strengthens to the northeast along this trend. As a bonus, one of the Ace-Galena holes encountered a new, epithermal quartz vein and breccia hosting visible native silver, and returning high-grade silver assays. Both of these mineralization systems warrant further exploration".

In addition to the holes drilled on the Ace-Galena target, a fan of three holes were drilled in the Kitsol area to follow up on a significant 2014 drill intercept that graded 712 grams of silver per tonne (g/t silver) over 22.6 meters true thickness within the Kitsol epithermal vein structure. The new holes were sited 60 meters northeast of hole DV14010 and were targeted to test the Kitsol vein down-dip form historic trench results, which graded 626 g/t silver over 4.11 meters. The Kitsol vein/structure shows evidence of multiple phases of fluid influx and silver mineralization, including native silver, in a prominent structural flexure on the property. The new drilling, along with the integration of a structural study completed late in 2015 will assist in the future exploration at Kitsol. The following table shows significant mineralized intercepts from the 2015 drill program, see Website for Drill Results.