Dolly Varden Grants Options

Dolly Varden Silver Corp.

VANCOUVER, BC--(Marketwired - May 18, 2017) - Dolly Varden Silver Corporation (TSX VENTURE: DV) (OTC PINK: DOLLF) (the "Company" or "Dolly Varden") announces that it has granted an aggregate of 1,085,000 incentive stock options to directors, officers, and consultants to purchase up to 1,085,000 common shares in the capital of Dolly Varden. The incentive stock options have an exercise price of $0.59 per share, expire five years from the date of grant and vest immediately. As a result of this option grant, Dolly Varden has 3,470,000 stock options outstanding, representing 9.4% of the issued and outstanding share capital of the Company.