Dolly Varden Silver (TSX.V: DV | U.S.: DOLLF) (the “Company” or “Dolly Varden“) On behalf of the management of Dolly Varden Silver (“Dolly Varden”), it is my great pleasure to provide a summary to our shareholders of the events of 2017 and provide an outlook of what may lie ahead in 2018.

 The Belcarra Group assumed control of the management of Dolly Varden in December 2016 at the request of members of the board of directors and several of our large and institutional shareholders. The objective was to bring stability to the corporation by allowing our experienced technical team led by Ben Whiting, Vice President Exploration and Rob Van Egmond, Chief Geologist as the project manager to begin to unlock value in the project.

We completed a thorough and comprehensive review of all historical data and workings, organized our exploration team and designed the work program for 2017. We wanted to commence drilling as early as possible (weather permitting).

Exploration camp construction and site preparation began in May, diamond drilling quickly ensued in June, and we were the first company to begin drilling in the Golden Triangle this season.

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