Dolly Varden Announces Issuance of Common Shares for Acquisition of Porter Project
Dolly Varden Silver Corporation (DVS) has completed the acquisition of the Porter Project from Strikepoint Gold Inc. The project, located in British Columbia's Golden Triangle, consists of 15 contiguous claims and 46 crown grants, covering approximately 3,192 hectares. The acquisition was completed for $1.1 million, paid through the issuance of 295,699 common shares at a deemed price of $3.72 per share. The company has filed a prospectus supplement dated May 21, 2025, to its base shelf prospectus to qualify the share distribution.
Dolly Varden Silver Corporation (DVS) ha completato l'acquisizione del Progetto Porter da Strikepoint Gold Inc. Il progetto, situato nel Golden Triangle della British Columbia, comprende 15 concessioni contigue e 46 concessioni reali, coprendo circa 3.192 ettari. L'acquisizione è stata effettuata per un importo di 1,1 milioni di dollari, pagato tramite l'emissione di 295.699 azioni ordinarie a un prezzo nominale di 3,72 dollari per azione. La società ha depositato un supplemento al prospetto datato 21 maggio 2025 al suo prospetto base per qualificare la distribuzione delle azioni.
Dolly Varden Silver Corporation (DVS) ha completado la adquisición del Proyecto Porter de Strikepoint Gold Inc. El proyecto, ubicado en el Triángulo de Oro de Columbia Británica, consta de 15 concesiones contiguas y 46 concesiones reales, cubriendo aproximadamente 3,192 hectáreas. La adquisición se completó por 1.1 millones de dólares, pagados mediante la emisión de 295,699 acciones comunes a un precio nominal de 3.72 dólares por acción. La compañía ha presentado un suplemento de prospecto fechado el 21 de mayo de 2025 a su prospecto base para calificar la distribución de acciones.
Dolly Varden Silver Corporation (DVS)는 Strikepoint Gold Inc.로부터 Porter 프로젝트 인수를 완료했습니다. 이 프로젝트는 브리티시컬럼비아의 골든 트라이앵글 지역에 위치하며, 인접한 15개의 청구권과 46개의 크라운 그랜트로 구성되어 약 3,192 헥타르를 포함합니다. 인수 금액은 110만 달러이며, 주당 3.72달러의 평가 가격으로 295,699주의 보통주 발행을 통해 지급되었습니다. 회사는 주식 배포를 승인하기 위해 2025년 5월 21일자 기본 서류 보충 설명서를 제출했습니다.
Dolly Varden Silver Corporation (DVS) a finalisé l'acquisition du projet Porter auprès de Strikepoint Gold Inc. Le projet, situé dans le Golden Triangle de la Colombie-Britannique, comprend 15 concessions contiguës et 46 concessions royales, couvrant environ 3 192 hectares. L'acquisition a été réalisée pour un montant de 1,1 million de dollars, payé par l'émission de 295 699 actions ordinaires à un prix réputé de 3,72 dollars par action. La société a déposé un supplément au prospectus daté du 21 mai 2025 à son prospectus de base afin de qualifier la distribution des actions.
Dolly Varden Silver Corporation (DVS) hat die Übernahme des Porter-Projekts von Strikepoint Gold Inc. abgeschlossen. Das Projekt befindet sich im Golden Triangle von British Columbia und umfasst 15 zusammenhängende Claims sowie 46 Crown Grants, die insgesamt etwa 3.192 Hektar abdecken. Die Übernahme wurde für 1,1 Millionen US-Dollar abgeschlossen, bezahlt durch die Ausgabe von 295.699 Stammaktien zu einem angenommenen Preis von 3,72 US-Dollar pro Aktie. Das Unternehmen hat einen Nachtrag zum Basisprospekt vom 21. Mai 2025 eingereicht, um die Aktienverteilung zu qualifizieren.
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Vancouver, British Columbia--(Newsfile Corp. - May 23, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) (the "Company" or "Dolly Varden") is pleased to announce that, further to its news release dated May 8, 2025, it has completed the acquisition of the Porter Project, located in the Golden Triangle, British Columbia, further strengthening Dolly Varden's position as a prominent precious metals exploration Company in the region. The Porter Project is comprised of 15 contiguous claims and 46 crown grants, encompassing an area of approximately 3,192 hectares in the Golden Triangle, British Columbia.
Dolly Varden completed the acquisition of the Porter Project from Strikepoint Gold Inc. ("Strikepoint") for consideration of
About the Porter Project
The Porter Project has an upside exploration potential between two shear hosted silver-rich vein systems: the historic Silverado mine and past-producing Prosperity-Porter Idaho mines that are separated by a 2,350 meter long unexplored trend. Veins at both sites run at a similar orientation and it is hypothesized that the system may be continuous under the summit of Mount Rainey. The Prosperity-Porter Idaho vein system has seen past production, having been mined between 1929 and 1931, producing 27,123 tonnes of direct shipping ore with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to the port at Stewart, British Columbia via aerial tramway.
Figure 1: The location of the Porter Project is shown in green, the location of the Kinskuch Property is shown in blue (the proposed acquisition of which was announced in a news release dated May 5, 2025, and which is not yet complete), and the location of the MTB Metals Corp. Properties are show in orange (the proposed acquisition of which was announced in a news release dated May 15, 2025 and which is not yet complete).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/252857_5a109a5a74b1a838_002full.jpg
Further Information
While Strikepoint and Dolly Varden are not considered to be "related parties" pursuant to applicable securities laws, the parties are considered to be "non-arm's length parties" pursuant to the policies of the TSXV on account that Shawn Khunkhun, Chief Executive Officer, President and a Director of Dolly Varden is also the Executive Chairman and Director of Strikepoint. The terms of the transaction were negotiated by disinterested members of management of Strikepoint and Dolly Varden. No finders fees or commissions are payable by the Company in connection with the transaction. The Consideration Shares were issued without any trading restrictions.
The securities described in this release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the laws of any state or other jurisdiction of the United States. These securities may not be offered or sold in the United States absent such registration or an available exemption therefrom. This release does not constitute an offer to purchase or a solicitation of an offer to buy securities in any jurisdiction.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden, the "Qualified Person" as defined by NI 43-101, has reviewed and approved the scientific and technical information contained in this news release. Rob van Egmond, P.Geo. is not independent of the Company in accordance with NI 43-101.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable 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", "prospective" and similar expressions. Such forward-looking statements included in this news release include the proposed benefits of Porter Project to the Company, and the proposed acquisitions of the Kinskuch Property and the Theia Property. 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, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company's annual information form ("AIF") dated April 30, 2025 for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca, and in the Company's Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at www.sec.gov. The risk factors identified in the Company's public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, 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.
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.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com.
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