VANCOUVER, BC, March 11, 2022 /CNW/ - Dolly Varden Silver
Corporation (TSXV: DV) (OTC: DOLLF) (the "Company" or
"Dolly Varden") announces
that further to is news release dated March
9, 2022, the Company has issued 402,815 common shares in the
capital of the Company ("Common Shares") to Haywood
Securities Inc. ("Haywood")
pursuant to a financial advisory agreement between Haywood and the Company. As previously
described in the Company's management information circular dated
January 24, 2022 (the
"Circular"), Dolly Varden
engaged Haywood to provide
financial advisory services in connection with Dolly Varden's acquisition of a 100% interest in
the Homestake Ridge gold-silver project from Fury Gold Mines Ltd.
("Fury"), which closed on February
25, 2022 (the "Transaction"). The Common Shares
were issued to Haywood at a deemed
price of $0.5896 per share for an
aggregate value of $237,499, which
represents a portion of Haywood's
fee for advisory services they provided to Dolly Varden in respect of the Transaction. The
deemed price per share of $0.5896 is
substantially equal to the price per share issued by Dolly Varden to Fury and Hecla Canada Ltd. in
connection with the Transaction.
Further information regarding the Transaction is provided in the
Circular and the Company's news release announcing closing of the
Transaction dated February 25, 2022.
The Circular and closing news release are available under the
Company's profile on SEDAR at www.sedar.com.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company
focused on advancing its 100% held Kitsault Valley Project (which
combines the Dolly Varden Project and the Homestake Ridge Project)
located in the Golden Triangle of British
Columbia, Canada, 25kms by road to tide water. The 163 sq.
km. project hosts the high-grade silver and gold resources of
Dolly Varden and Homestake Ridge
along with the past producing Dolly
Varden and Torbrit silver mines. It is considered to be
prospective for hosting further precious metal deposits, being on
the same structural and stratigraphic belts that host numerous
other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley
Project also contains the Big Bulk property which is prospective
for porphyry and skarn style copper and gold mineralization,
similar to other such deposits in the region (Red Mountain, KSM,
Red Chris).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
SOURCE Dolly Varden Silver Corp.