VANCOUVER, BC, Dec. 7, 2020 /CNW/ - Dolly Varden Silver
Corporation ("Dolly Varden" or the "Company") (TSXV:
DV) (OTC:DOLLF), is pleased to announce the acquisition of surface
rights and fee simple lands within the community of Alice Arm located on the Pacific Ocean in
Northwest BC, in support of exploration infrastructure. The town of
Alice Arm was originally developed
in the early 1900's to support silver mining in the area.
The surface rights acquired include: the lands where the
exploration camp, offices, logging and sampling facilities, as well
as core storage areas are currently located. In addition, one
parcel is located at waterfront with the potential to construct
deep water loading facilities. The total package had been
previously leased annually by the Company from private owners.
"Acquiring the title to these surface lands secures the future
of the exploration camp and geological facilities as well as
establishes the asset of having strategically located building
sites for future infrastructure needs", states Shawn Khunkhun, President and CEO.
The transaction involves a payment of Cnd$150,000 in cash and
Cnd$150,000 in fully paid common shares of the company issued at a
deemed price per share equal to the 10-day simple average of the
closing price of the shares on the TSX Venture Exchange
("TSXV") immediately preceding the issue date. The
transaction is subject to final approval of the TSXV. The Company
currently has title to the underlying mineral leases on the larger
lots within the land package but does not intend to conduct
exploration on them.
Qualified Person
Rob van Egmond, P.Geo, Chief
Geologist for Dolly Varden Silver,
is the "Qualified Person" as defined by NI43-101. He has reviewed,
validated and approved the information contained in this news
release.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company
focused on exploration in northwestern British Columbia. Dolly Varden has two
projects, the namesake Dolly Varden silver property and the nearby
Big Bulk copper-gold property. The Dolly Varden property is
considered to be highly prospective for hosting high-grade precious
metal deposits, since it comprises the same structural and
stratigraphic setting that host numerous other high-grade deposits
(Eskay Creek, Brucejack). The Big
Bulk property is prospective for porphyry and skarn style copper
and gold mineralization similar to other such deposits in the
region (Red Mountain, KSM, Red
Chris).
Forward Looking Statements
This release may contain forward-looking statements or
forward-looking information under applicable Canadian securities
legislation that may not be based on historical fact, including,
without limitation, statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect", "potential" and similar expressions.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of Dolly Varden to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Forward looking statements or information relates to,
among other things, final approval of the TSXV, interpretation of
the nature of the mineralization at the project and that that the
mineralization on the project is similar to Eskay and Brucejack,
results of the mineral resource estimate on the project, the
potential to grow the project, the potential to expand the
mineralization, the planning for further exploration work, the
ability to de-risk the potential exploration targets, and our
beliefs about the unexplored portion of the property. These
forward-looking statements are based on management's current
expectations and beliefs but given the uncertainties, assumptions
and risks, readers are cautioned not to place undue reliance on
such forward-looking statements or information. The Company
disclaims any obligation to update, or to publicly announce, any
such statements, events or developments except as required by
law.
For additional information on risks and uncertainties, see the
Company's most recently filed annual management discussion &
analysis ("MD&A"), which is available on SEDAR at
www.sedar.com. The risk factors identified in the MD&A are not
intended to represent a complete list of factors that could affect
the Company.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/dolly-varden-silver-acquires-strategic-surface-rights-on-tidewater-at-alice-arm-bc-301187160.html
SOURCE Dolly Varden Silver Corp.
