August 17, 2016 – Vancouver, BC: Dolly Varden Silver Corporation (TSX.V: DV | U.S.: DOLLF) (the “Company” or “Dolly Varden”) reports the appointment of Rory Kutluoglu as the Company’s new Vice President of Exploration and Qualified Person (“QP”) for National Instrument 43-101 purposes. Mr. Kutluoglu, who was Exploration Manager with Kaminak Gold prior to its take over by Goldcorp Inc., will take on these responsibilities from Mr. Ron F. Nichols, who is resigning.

Dolly Varden’s board wishes to thank Ron Nichols, who has been a senior executive of Dolly Varden since its inception in 2011, most of the time as Vice President of Exploration but also as the Company’s CEO for two years until February 2014. In all of his capacities, and through some very challenging times, Ron’s deep knowledge of the project and strong optimism for its potential were constant. We wish him all the best in his new endeavors. Rory has the experience, energy, and technical and data skills to lead the exploration on the project. He is eager to get started. We welcome him aboard just as field crews are being mobilized to the site for the start of this year’s exploration program,” said Rosie Moore, Director and Interim President & CEO of Dolly Varden.

Rory Kutluoglu is a Canadian geologist with over a decade of exploration experience in a wide variety of commodities across North America. Rory was Exploration Manager for Kaminak Gold Corporation from 2012 to 2015 and was part of the team that delivered the maiden resource, positive preliminary economic assessment and positive feasibility study for the Coffee Gold Project in the Yukon which was acquired by Goldcorp Inc. in July 2016 for approximately $520 million. Rory began his professional career working on the team that discovered the Broken Hammer deposit in Sudbury for Wallbridge Mining. He then served Aeroquest Surveys Limited, acquiring and processing data from electromagnetic, magnetic and radiometric surveys. From 2006 to 2010, Rory worked as a Project Geologist for Equity Exploration Consultants Ltd., Goldfields Canada and Kiska Metals Corp. where he was responsible for planning, implementing and reporting on grassroots exploration programs across Canada. Rory obtained his Bachelor of Science degree in Geology from Lakehead University in Ontario and has been a Professional Geoscientist, registered with The Association of Professional Engineers and Geologist of British Columbia since 2011 and is also a Fellow of the Society of Economic Geologists.

About Dolly Varden – Dolly Varden Silver Corporation is a mineral exploration company focused on the exploration of the Dolly Varden silver property located in northwestern British Columbia, Canada. The entire Dolly Varden property is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. 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.

FORWARD-LOOKING STATEMENTS:

This release may contain forward-looking statements or information. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual outcome, results, performance, or achievements of Dolly Varden to be materially different from any future outcome, results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relate to, among other things, the continued exploration of the Dolly Varden silver property. These forward-looking statements are based on management’s current expectations and beliefs, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A”), which is available on SEDAR at www.sedar.com and on the Company’s website at www.dollyvardensilver.com. The risk factors identified in the MD&A are not intended to represent a complete list of factors that could affect the Company.

Neither the TSX.V 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.

Contact Information:
Dolly Varden Silver Corporation
Rosie Moore, Interim CEO and President
+1 604 925 5881

Skanderbeg Capital Advisors Inc.
Mario Vetro
+1 604 687 7130
Email: mario@skanderbegcapital.com

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All rights reserved.