Early Warning Report regarding disposition of common shares of Dolly Varden Silver Corporation by Robert L. Gipson

NEW YORK, Aug. 9, 2016 /CNW/ - Robert L. Gipson announces that, on August 8, 2016, his spouse, Nellie Gipson, disposed of 10,000 common shares ("Shares") of Dolly Varden Silver Corporation ("DVS") at a price of $0.95 per Share, for an aggregate amount of $9,500.00. The disposition was completed through the facilities of the Toronto Stock Exchange.

As previously announced by DVS, on July 26, 2016, DVS completed a non-brokered private placement of 9,115,861 common shares, 2,142,857 "flow-through shares" and 101,762 common share purchase warrants (the "Private Placement").

Following the sale of the 10,000 Shares and taking into account the dilutive effects of the Private Placement, the Gipsons together own an aggregate of 2,490,000 Shares or 8.27% of the issued and outstanding common shares of DVS, representing a 5.41% decrease in the Gipsons ownership percentage in DVS prior to the sale of the 10,000 Shares and the Private Placement.

The 10,000 Shares were disposed of by the Gipsons for investment purposes. Depending on market conditions, the Gipsons may, from time to time, increase or decrease its beneficial ownership, control or direction over any of DVS's securities through market transactions, private agreements or otherwise.

A copy of the related early warning report (the "Report") to be filed with the applicable securities commissions may be obtained from the SEDAR website (www.sedar.com) under the profile for DVS.

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 release.

SOURCE Robert L. Gipson

For further information: or to obtain a copy of the Report, please contact Mr. Gipson as follows: Robert L. Gipson, c/o Ingalls & Snyder LLC, 1325 Avenue of the Americas, New York, NY 10019 USA, Telephone: 212.269.7897, Attention: Thomas Boucher

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