Toronto, Ontario--(Newsfile Corp. - September 4, 2024) - Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 2,000,000 common shares (Shares) of the Dolly Varden Silver Corporation for total consideration of $2,000,000 pursuant to a prospectus offering. Prior to the acquisition, Mr. Sprott beneficially owned 28,499,483 Shares representing approximately 10.0% of the outstanding Shares.

As a result of the acquisition, Mr. Sprott now beneficially owns 30,499,483 Shares representing approximately 9.8% of the outstanding Shares. The acquisition, combined with previous treasury issuances of Shares, resulted in a decrease in holdings of approximately 1.8% since the date of the last filing of an Early Warning Report and brings total holdings to under 10%. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of Dolly Varden Silver.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.