April 18, 2013
– Vancouver, BC: Dolly Varden
Silver Corporation (TSX.V: DV |
U.S.: DOLLF) (“Dolly Varden” or
the “Company”) is pleased to
announce that its strategic investor
Hecla Mining Company (“Hecla”),
through a wholly-owned subsidiary,
has exercised its pre-emptive right
to maintain its 19.94% interest in
Dolly Varden and acquired 15,064,700
shares of the Company at a price of
$0.18 per share, for gross proceeds
of $2,711,646.
This financing, in part, replaces
the 10,000,000 shares traded in the
transaction announced on February
27, 2013. Subsequent to this
financing, Hecla owns 26,202,919
shares of Dolly Varden for a 19.94%
interest in the Company. All of the
securities issued pursuant to the
private placement are subject to a
four month hold period expiring on
August 18, 2013.
No additional finder’s fees were
paid for this final tranche of the
financing, announced on February 12,
2012. Any finder’s fees associated
with this tranche were paid in
advance, on the closing of the first
tranche, announced on March 20,
2013.
Mr. John King Burns, Chairman of the
Company, states that “We are very
pleased to see Hecla Mining Company,
our strategic partner and investor,
continue its support of Dolly Varden
Silver Corporation. Their
substantial ongoing investment in
Dolly Varden and their strategic
assistance is a testament to the
experienced team we’ve assembled and
the prospects of our Dolly Varden
property. We look forward to
advancing our drilling and
infrastructure program this spring
and summer with the goal of defining
a high-grade silver resource on our
existing four deposits, and
identifying an Eskay Creek-type VMS
deposit at our Red Point target,
just northwest of our existing
mines.”
About Dolly Varden
Dolly Varden Silver Corporation is a
Canadian-based mineral exploration
company focused on the exploration
and development of the 100% owned,
historic Dolly Varden silver and
gold property located in
northwestern British Columbia. The
Dolly Varden silver property
consists of 9,400 hectares which
includes four well-defined high
grade silver deposits, two of which
have seen historic production
totaling 20 million ounces of
silver. All four deposits have
remaining historic mineral resources
and are situated in the same
geologic setting as the
past-producing Eskay Creek
gold-silver-rich VMS deposit. The
Company has two strategies for
creating value at the Dolly Varden
silver project: to confirm the
historic silver resources with the
goal to re-start the mining of
historic deposits and to explore a
major, untested Eskay Creek-type
gold and silver rich VMS target,
located northwest of the past
producing mines.
The Company’s common shares are
listed and traded on the TSX-V under
the symbol DV and in the U.S. under
the symbol DOLLF.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Vanguard Shareholder Solutions
Martin Gagel, MBA, CFA
Vice President
604-608-0824
877-608-0829
Strata Star
Gary Lindsey
Investor Relations
1-720-273-6224
gary@strata-star.com
Dolly Varden
Silver Corporation
Ron Nichols, P. Eng.,
CEO and President
1-778-383-3083 Telephone
1-855-381-3530 Toll Free
www.dollyvardensilver.com
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as
that term is defined in the policies
of the TSX Venture Exchange) accepts
responsibility for the adequacy or
accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Certain of the statements and
information in this press release
constitute “forward-looking
statements” or “forward-looking
information” Any statements or
information that express or involve
discussions with respect to
predictions, expectations, beliefs,
plans, projections, objectives,
assumptions or future events or
performance (often, but not always,
using words or phrases such as
“expects”, “anticipates”,
“believes”, “plans”, “estimates”,
“intends”, “targets”, “goals”,
“forecasts”, “objectives”,
“potential” or variations thereof or
stating that certain actions, events
or results “may”, “could”, “would”,
“might” or “will” be taken, occur or
be achieved, or the negative of any
of these terms and similar
expressions) are not statements of
historical fact and may be
forward-looking statements or
information. Forward looking
statements or information relate to,
among other things, the Company’s
exploration plans for the Dolly
Varden silver property.
Forward-looking statements or
information are subject to a variety
of known and unknown risks,
uncertainties and other factors that
could cause actual events or results
to differ from those reflected in
the forward-looking statements or
information, including, without
limitation, need for additional
capital by the Company through
financings, and the risk that such
funds may not be raised; the
speculative nature of exploration
and the stages of the Company’s
properties; the effect of changes in
commodity prices; regulatory risks
that development of the Company’s
material properties will not be
acceptable for social, environmental
or other reasons and the efforts and
abilities of the senior management
team. This list is not exhaustive of
the factors that may affect any of
the Company’s forward-looking
statements or information. Although
the Company has attempted to
identify important factors that
could cause actual results to differ
materially, there may be other
factors that cause results not to be
as anticipated, estimated, described
or intended. Accordingly, readers
should not place undue reliance on
forward-looking statements or
information.
The Company’s forward-looking
statements and information are based
on the assumptions, beliefs,
expectations and opinions of
management as of the date of this
press release, and other than as
required by applicable securities
laws, the Company does not assume
any obligation to update
forward-looking statements and
information if circumstances or
management’s assumptions, beliefs,
expectations or opinions should
change, or changes in any other
events affecting such statements or
information. For the reasons set
forth above, investors should not
place undue reliance on
forward-looking statements and
information.
