Dolly Varden Silver Pays $1.1 Million for New Project with Historical Resource Estimate

While DV expands its footprint in the Golden Triangle, an aggressive summer drill program is de-risking the core silver and gold mineral resources.

"We're paying $1.1 million for The Porter Project, which has a historical resource of 11 million Indicated Ounces and 1.7 million Inferred Ounces," Shawn Khunkhun told Guy Bennett, CEO of Global Stocks News (GSN). "That values the Porter Project historical ounces-in-ground at about 8.5 cents/ounce."

"The Historical Mineral Resource Estimate is relevant to shareholders' understanding of the Porter Idaho Project and its future potential," stated DV in the May 8, 2025 press release, before issuing the standard warning that, "Shareholders should not rely on the Historical Mineral Resources Estimate as a current mineral resource estimate. Dolly Varden has not yet determined the extent of work needed to upgrade or verify the Historical Estimate."

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"In the Kitsault Valley, we've established approximately 50 million ounces of silver equivalent in the indicated category and 90 million ounces of silver equivalent in the inferred category," Khunkhun told GSN.

"Based on our current market cap, the Kitsault Valley indicated & inferred silver equivalent in the ground is valued around 50 cents/ounce. In a silver bull market, silver-in-the-ground in Tier 1 jurisdictions can be valued as high as $2/ounce. We believe that 8.5 cents/ounce is an attractive valuation, and the Porter Project is an accretive addition to our growing mineral tenure position in the southern Golden Triangle".

"With Porter's proximity to the Premiere Mine, direct shipping high-grade material to the Premiere Mill may become a viable future option," stated Khunkhun, "This wouldn't be the first time a line is drawn between the two projects. When the Guggenheim Family owned the Premier Mine in the early 1900s, the family instructed the mill boss to acquire Porter."

Porter Project Highlights:

• Historical (non-43-101 compliant) resource of 11 million Indicated Ounces and 1.7 million Inferred Ounces.

• Fifteen contiguous claims and 46 crown grants, encompassing an area of approximately 3,192 hectares.

• Project is located 35 kilometers northwest of the silver deposits on Dolly Varden's Kitsault Valley Project, just four kilometers from the town of Stewart and 21 kilometers southeast of Ascot Resource's Premier mine and mill.

• Strategically located at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

• The potential to connect the high-grade historic silver mines of Porter, Idaho, and Silverado that are separated by 2,350 meters of untested potential.

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"The Prosperity - Porter Idaho - Silverado property includes ten known silver-bearing vein structures which have been partially explored and developed by more than 6,000 metres of underground workings and various drilling programs over the past 90 years, stated a 2012 Technical Report prepared for Mount Rainey Silver.

"Limited production of high-grade, direct shipping ore was undertaken between 1929 and 1931," stated the report. "This early development work, coupled with exploratory work between 1980 and 1985, has provided sufficient detailed information to permit an estimate of indicated and inferred mineral resources for two of the Prosperity-Porter Idaho vein structures."

"Good grades of silver mineralization are present over reasonably good widths, and both structures are open down-dip and along strike to the north."

"The Silverado veins have not been investigated to any great degree since the late 1940s," continues the 2012 Mount Rainey Silver Technical report. "The character and structural setting of the four known veins are similar to the Prosperity-Porter Idaho veins, and the possible structural continuity between the two vein systems has been the subject of speculation since the 1930s."

"Teck Explorations entered into an agreement with Pacific Cassiar for the purposes of undertaking a major exploratory program on the Prosperity-Porter Idaho section of the property in 1985, stated the report. "3,320 metres of diamond drilling was completed in 17 holes.

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In the last 30 days, Dolly Varden has listed on the NYSE, increased its footprint 400% by acquiring the Kinskuch property from Hecla and announced plans for the fully funded 2025 exploration drilling program at its 100% owned Kitsault Valley Project. On May 15, 2025 DV entered into a definitive agreement with MTB Metals to acquire interests in four properties totaling over 20,000 hectares in the Golden Triangle.

With a "minimum planned 35,000 meters of diamond drilling" announced for 2025, DV continues its mission to build metal inventory through acquisitions (Big Bulk, Kinskuch, Porter) and the drill bit, while maintaining focus on de-risking the core silver and gold mineral resource.

Kitsault Valley drilling will begin mid-May, with four rigs expected to be active throughout the season.

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the "Qualified Person" as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this GSN release.

Disclaimer: Dolly Varden Silver paid GSN $1,750 for the research, creation and dissemination of this content.

Contact: guy.bennett@globalstocksnews.com

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