Dolly Varden Silver Appoints George W. Heard as New CEO and President and is Exhibiting at PDAC 2014, in Toronto

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 28, 2014) - Dolly Varden Silver Corp. (TSX VENTURE:DV)(OTCBB:DOLLF) ("Dolly Varden" or the "Company") is pleased to announce the addition of George W. Heard, P.Eng as President and CEO of Dolly Varden Silver Corp.. The Company would like to thank Ron F. Nichols, P.Eng. for his dedicated work over the past two years as President and CEO and for his ongoing role as a Vice President within the company. As well, Mr. Heard will maintain his position as a Director of the firm.

Mr. Heard has over 35 years' experience in the mining industry where he has been involved in all aspects of mine exploration, feasibility, development and operations. He has managed projects in Africa, Indonesia, Brazil, Mexico, Canada and the US. As Mine Manager, Mr. Heard participated in the successful development of a 600 million dollar coal mine Joint Venture between RTZ and BP in Indonesia. Mr. Heard also worked for BHP Billiton in various positions involving the development and operation of three large tonnage surface mines in the USA. He graduated from the School of Mines in Butte, Montana with a B.Sc. in Mining Engineering in 1975 and received an M.B.A. from the University of Hawaii in 1988. Mr. Heard is currently the President, CEO and Director of Global Met Coal Corporation. He is a Registered Member of the Association of Professional Engineers and Geoscientists of British Columbia.

Mr. Heard, President and CEO, commented: "Given what I have seen, Dolly Varden could have one of the largest silver/gold projects under advanced exploration in the global market place today. I am excited to be to working with our advisors and our dedicated and experienced team to drive our project forward. I am also looking forward to meeting with current and future shareholders and partners at this year's PDAC."

Mr. John King Burns, Chairman, commented: "We are very pleased with the appointment of George Heard to the role of President and CEO. This appointment highlights the Company's evolution and advancement. Mr. Heard's intensity, drive and field management experience are necessary to allow the company to attract and put more investment into the ground, accelerate developments in order to define the scope of the targets we have already identified for the 2014 work program."

Dolly Varden Exhibiting at Booth 2613 of PDAC 2014 and Booth 5041 of PDAC Core Shack:

Dolly Varden Silver will be exhibiting at the 2014 Prospectors and Developers Association of Canada (PDAC), International Convention and Investors Exchange in Toronto on March 2-5. Mr. George Heard, Mr. Ron Nichols, and Mr. John King Burns will be available at booth 2613 to discuss the development and progression of Dolly Varden Silver. As well, Dolly Varden will be presenting results and core from its Dolly Varden property on March 4 and 5 at booth 5041 of the PDAC core shack.

About Dolly Varden

Dolly Varden Silver Corp. is a Canadian-based mineral exploration company focused on the exploration and development of the Dolly Varden silver property located in northwestern British Columbia. 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. 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 deposit. The Company has two strategies for creating value at the Dolly Varden silver project: to confirm and expand the existing historic silver resources with the goal to re-start the historic deposits and to explore a major, untested Eskay Creek-type gold and silver rich VMS target, located northwest of the past producing mines.

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.