Dolly Varden Discovers a New Zone with an Intercept of 16.10 Metres Grading 293 g/t Silver-Equivalent, Including 7.65 Metres Grading 517 g/t, Located 200 Metres North of the Torbrit Deposit in the Gol

VANCOUVER, Aug. 14, 2017

Hole DV17-058 has all the mineralogical signatures of the Dolly Varden-Torbrit Horizon (DVTH), but is located in host rocks of the footwall of the Moose-Lamb Fault, whereas the Torbrit Deposit is hosted in the hanging wall. In addition, 300 metres further north, hole DV17-057 also hit the DVTH. The Torbrit Deposit is interpreted as a northwestward plunging synform. The new discovery may represent a deeper offset, or parallel deposit. These intercepts greatly expand the mineral potential of this sector of the property.

Hole DV17-058 – Lower Zone yielded a core length of 16.10 metres (13.19 m true thickness) grading Ag 269.0 g/t, Pb 0.30 % and Zn 0.21 % for a silver-equivalent of 292.8 g/t. Within this Lower Zone interval is 7.65 metres (6.27 m true thickness) grading Ag 481.1 g/t, Pb 0.50 % and Zn 0.29 % for a silver-equivalent of 517.3 g/t.

The 2017 exploration program is ahead of schedule and on budget. It was planned to consist of over 5,000 metres of diamond drilling in about 25 to 35 drill holes. A proposal is being considered to expand the 2017 Exploration program to about 12,000 metres.

"A new discovery in this historic mining camp is exactly what we have been hoping for and we are proud of our exploration team," said Gary Cope, President and CEO of Dolly Varden.