Dolly Varden Silver Corporation announced that the 2024 Exploration Drill Program has started at its 100% owned Kitsault Valley Project. Three drill rigs have been mobilized and are testing exploration targets at Moose Vein, Chance Vein and the North Star Deposit step out. Objectives of the initial targets include testing for new discoveries and following up from high-grade silver mineralization encountered in the 2023 drilling program.

Drill meterage in the 2024 drill program will be split approximately evenly between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of one third each to the Homestake Silver deposit, to the Wolf deposit area and to project wide exploration targets with discovery potential. The Moose Vein is situated 1.5 kilometers north of the Wolf vein on a similar crosscutting structure that projects under the mid valley sedimentary cap. Drilling in 2023 intersected mineralized vein and vein breccias similar to the Wolf vein, with previously reported results from drill hole DV23-371 of 712 g/t Ag over 1.00 meter within a wider vein interval grading 269 g/t Ag over 7.55 meters.

The 2024 drilling at Moose will target the down plunge mineralization projection, trending towards and below the mid-valley sedimentary cover rock. This target is a newly interpreted plunge orientation of the wide and high silver grade seen at similar cross-cutting veins located further south of the Moose Vein, such as Wolf and Kitsol. The Chance Vein is located within the lower portion of the Hazelton Formation, just above the contact with the underlying Stuhini Formation (the contact known as "The Red Line" of the Golden Triangle).

Drilling has commenced on a recently developed model of the plunge direction that is interpreted to trend through an area that has not been previously tested. The first hole at the Chance Vein will test the interpreted down plunge projection of previously released drill hole DV19-173, that intersected 488 g/t Ag over 26.50 meters including 1,044 g/t Ag over 5.60 meters. The third drill has commenced step-out drilling to the west of the North Star deposit, which is included in the current mineral resource estimate and is interpreted as the western extension of the Torbrit Exhalative Layer (the Torbrit Horizon).

It is located across the Kitsault Valley from the Torbrit deposit which hosts the largest silver resource on the Dolly Varden portion of the Project. Drilling in 2023 tested down-dip and stepped out to the west along the projection of the Torbrit Horizon towards an area with the potential to host a continuation of the horizon. Follow-up drilling will target the extension of previously released drill hole DV23-358 from North Star that intersected 345 g/t Ag over 7.45m and included 1,510 g/t Ag over 0.58 meters.