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Early Warning Report Regarding Purchase of Common Shares of Dolly Varden Silver Corporation by Robert L. Gipson

NEW YORK, NEW YORK -- (Marketwired) -- 08/14/14 -- Robert L. Gipson announces that, on August 14, 2014, he acquired ownership of 20,000,000 common shares (the "Shares") of Dolly Varden Silver Corporation ("DVS"), representing approximately 10.95% of the issued and outstanding common shares of DVS.

Mr. Gipson and his spouse, Nellie Gipson, together own an aggregate of 25,000,000 common shares, representing approximately 13.68% of the issued and outstanding common shares of DVS.

Mr. Gipson acquired beneficial ownership of the Shares through a private over-the-counter transaction for cash consideration of $0.095 per Share, or $1,900,000 in aggregate. The Shares were acquired and will be held as passive investments. Mr. Gipson, or his spouse, may, depending on market and other conditions, increase or decrease his or her beneficial ownership of DVS's securities, whether in the open market, by privately negotiated 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.

For further information or to obtain a copy of the Report, please see contact information below.

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.

Contacts:
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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