Updated Mineral Resources Estimate – May 8th, 2019

Classification

Deposit

Cut-off (g/t Ag)

Tonnes

Silver (g/t)

Contained oz Ag

Indicated

Torbrit

150

2,623,000

296.8

25,025,000

Dolly Varden

150

156,000

414.2

2,078,000

Wolf

150

402,000

296.6

3,834,000

North Star

150

236,000

262.8

1,994,000

Total Indicated:

3,417,000

299.8

32,931,000

Inferred

Torbrit

150

1,185,000

278.0

10,588,000

Dolly Varden

150

86,000

271.5

754,000

Wolf

150

9,500

230.6

70,000

North Star

150

4,800

223.6

35,000

Total Inferred:

1,285,300

277.0

11,447,000

*Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resource as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading the resource to a measured resource category. There is no guarantee that any part of the mineral resource discussed herein will be converted into a mineral reserve in the future.
**A 150 g/t silver lower cut-off was chosen to reflect conceptual underground mining and processing cut-off grade.
***Contained ounces may not add due to rounding.
****The resource estimation work reported herein was completed by Mr. Steven Nicholls, BASc., MAIG, with APEX Geoscience Ltd. (“APEX”) under the direct supervision of Mr. Andrew J. Turner, P.Geol., also with APEX. Both are independent geological consultants and Qualified Persons as defined by National Instrument 43-101.
*****An updated Technical Report, consistent with National Instrument 43-101, will be filed on www.sedar.ca within 45 days.

© 2019 Dolly Varden Silver Corp.
All rights reserved.