1. DOLLY VARDEN
SILVER CORPORATION
A Young Silver Company Holds 100% of a
Major British Columbia Property
with Eskay Creek Gold-Silver Potential
November 10, 2012
2. FORWARD LOOKING INFORMATION
Certain of the statements and information herein constitute “forward-looking statements” or “forward-looking information. Any
statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as
“expects”, “anticipates”, “believes”, “plans”, “estimates”, “intends”, “targets”, “goals”, “forecasts”, “objectives”, “potential” or
variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be
forward-looking statements or information. Forward looking statements or information relate to, among other things: the
Company’s business objectives and plans.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those reflected in the forward-looking statements or information,
including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds
may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in
commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social,
environmental or other reasons and the efforts and abilities of the senior management team. This list is not exhaustive of the
factors that may affect any of the Company’s forward-looking statements or information. Although the Company has attempted
to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking
statements or information.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions
of management as of the date hereof, and other than as required by applicable securities laws, the Company does not assume
any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting such statements or information.
Paul McGuigan, P Geo, V.P. of Exploration has reviewed and approved the content contained in this presentation.
4. Two strategies for creating value
• Confirm and expand historic silver resources with
the goal to define 40 to 50 million ounces of Silver
and re-activate the historic Dolly Varden silver mines,
in northwestern BC
• Explore a major untested Eskay Creek-type gold &
silver target at Dolly Varden (Eskay Creek production
of 3.6 million oz. Gold, 180 million oz. Silver)
• Management team and a strategic partner are
experienced in both Eskay Creek-type exploration
and re-activating past producing mines
5. Experienced Management & Board of Directors
John King Burns • Former CFO of Drexel Burnham Lambert Commodity Group
Chairman • Former managing director of Barclays Metals Group
• 30+ years of extensive capital markets and resource sector experience
Ron F. Nichols, P Eng.
. • 30+ years (20 years with Cominco) of exploration and development
President & CEO experience including Valley Copper and Snip Mines in BC
• Recently re-started Ag-Cu-Pb-Zn La Negra Mine, Mexico and silver Shafter
Mine, Texas
Paul J. McGuigan, P Geo.
. • Principal of Cambria Geosciences Inc., formerly with Esso Resources
VP Exploration • 35+ years of experience in mineral exploration and mining operations
• Active in BC exploration since 1974
Allen Ambrose, P Geo.
. • 30+ years of exploration and mining experience
Director • Co-discoverer of Brisas del Cuyuni gold deposit
• Director/Co-founder of multiple resource companies incl. Minera Andes
Allan Marter • 30+ years experience as a Chartered Accountant and CFO of various
Director mining companies, including 7 years as President of EURO Resources S.A.
• Former Director of Minera Andes
• Experienced in exploration, development and operational stages.
Theo Sanidas • 10+ years of mining industry experience
Director • Extensive capital markets background
• Experience with M&A, financing and corporate restructuring activities
6. Capital structure
Dolly Varden Silver Corporation - TSX-V:DV
Issued Common Shares 100,437,000
Options:- 500,000 @ $0.20
6,350,000 @ $0.25
750,000 @ $0.35 7,600,000
Warrants :- 5,000,000 @ $0.10
4,303,000 @ $0.15
793,000 @ $0.25
7,200 @ $0.40 10,103,200
Fully Diluted Shares O/S 118,140,200
Basic cash* $2.4 MM
Market Cap (Basic @ $0.22/share) Approx. $22 MM
* Cash position would increase by $3.016 million if all warrants and options exercised
Project potential scope & size will allow company to create
significant value
7. Strategic Partner – Hecla Mining Company
• Acquired 20 million shares for a 19.9% interest
• Hecla has the right to maintain their 19.9% interest
• Hecla has right to nominate one person to the DV Board of Directors
• Hecla will nominate one person to DV Technical Committee
• Strong strategic partner with 100 years of silver mining experience
• Flagship Greens Creek mine in same geologic setting as Dolly’s
Precious Metal Rich VMS target creates synergies for exploration.
8. Dolly Varden – Solid Foundation
%
owned • property acquired in Spring 2011
• 9,400 hectares (94 Km2)
• 2 historically active mines
• 2 deposits with development
• native land claims settled
9. Dolly Varden – Rich History
M
Oz Ag* • Historical production
*Historical production • Well understood targets
• Region with world-class projects
• Experienced senior management
10. Dolly Varden – Rich History
Eskay Creek
Major nearby projects:
Snip KSM • Eskay Creek (Barrick) Historic Production
Brucejack - Snowfields 3.6MM oz Au + 180MM oz Ag
Silbak Premier • Silback Premier (Ascot) Historic
Production
Dolly Varden
2.2MM oz Au + 44.2MM oz Ag
BC Moly
• Brucejack (Pretium)
• KSM (Seabridge Gold)
• BC Moly (Avanti)
Surrounded by world-class projects
11. Located in the Stewart Complex
Eskay Creek
Hazelton Group Arc assemblage (green)
KSM
Brucejack
Host to base and precious metal deposits
220M+ oz Ag produced historically Granduc
Silbak-Premier
7M+ oz Au produced historically
Wolf
Torbrit
typical mineralization for the region Dolly Varden /
North Star
Big Bulk
BC Moly
12. World-class Gold - Silver VMS deposits with plus
1 million oz. gold in production & reserves*
Deposit Operator Country Tonnage Grade
(M t) Au(g/t) Ag(g/t)
Canadian VMS Deposits
Eskay Creek Barrick Canada 2.5 44.4 2087.7
LaRonde Agnico Eagle Canada 43.5 4.2 52.1
Horne Noranda Mines Canada 54.3 6.1 13.0
Bousquet Agnico Eagle Canada 29.7 5.3 2.1
International VMS Deposits
Hassai La Mancha Sudan 6.2 10.0 —
Greens Creek Hecla USA - Alaska 11.2 4.2 560.9
Abyz Kazakhmys Kazakhstan 4.4 6.5 61.0
Boliden AB
Boliden Sweden 8.3 15.1 48.3
Norton
Mt. Morgan Australia 80.7 3.7 0.7
Goldfields
*Dubé et al, Geological Survey of Canada
13. Excellent infrastructure – via Alice Arm
• 2011 logistics base and
camp built in the
settlement of Alice Arm
• Property is 30 Km from
tidewater at Alice Arm
• 30 Km from power grid
• Access to rail and
deepwater shipping
• All-weather road access
• 7 Km of existing
underground development
good logistics for rehabilitation, development and exploration
14. Foundation for Dolly Varden’s plans
Historical resource estimate*: Extensive exploration by
5.7M oz. Ag Proven + Probable previous owners:
8.8M oz. Ag Possible
The qualified person has not done sufficient work to • 631 diamond drill holes
classify the Historical Estimates as current mineral
Resources or Reserves. Furthermore, the issuer is not • 44,090 meters of drilling
treating these Estimates as current Mineral Resources
or Mineral Reserves. • 7 km underground
*Derry Michener Booth & Wahl (1986) development
• 1980’s Engineering
studies on mine, mill,
Purchase of Property for and tailings design
$2.5 million translates into
Acquisition cost of $0.20 per oz. of
Silver
extensively mapped by current management
15. Creating significant additional value
Targeted
exploration
programs
SILVER GOLD-SILVER
Validation and expansion Identification of new,
of historic silver major Eskay Creek-type
resource estimates to 40 gold and silver deposits
to 50 million oz.
18. Historic mineral resources* (dilution at 10 – 16%)
Location Historic Tonnes Silver Contained
Resource Grade Silver
Classification (g/t) (ounces)
Dolly Varden Mine – (a) Proven & 42,638 754.3 1,034,000
Probable (P & P)
North Star Mine – (b) P&P 128,437 401.5 1,657,867
Torbrit Mine – (c) Possible 786,531 312.0 7,889,700
Wolf No.1 Zone – (d) P&P 77,932 395.0 989,626
Wolf No.2 Zone – (e) P&P 218,512 285.9 2,008,839
Wolf No.2 Zone – (f) Possible 100,295 279.4 901,031
Total P&P 5,690,331
Possible 8,790,731
All cut off grades 171 g/t silver * Derry Michener Booth & Wahl (1986)
See Note 4 and additional disclosure on Pg 15
Geology and Mineral Exploration of the Dolly Varden Property, British Columbia,
Canada Sept. 5, 2011, as revised. By Terry Garrow - Filed on SEDAR.
19. *
Notes on Historic mineral resource estimates
Comments:
a: Skerl (1964) and Mann (1974) Dolly Varden Mine staff. Remaining resource blocks are in proximity to mined out stopes
and downplunge extensions of mined out areas.
b: Thompson & Pearson (1981) Derry Michener & Booth. Minimum mining width of 5 ft. No prior mining.
c: Leigh & Thompson (1983) Derry Michener & Booth. Comprised of 18 zones. Most zones are in the hanging wall of the
glory hole and mined out stopes of the 1959 operation.
d: Thompson & Pearson (1981) Derry Michener & Booth. No prior mining. Tested by two levels of underground adits.
e: Thompson & Pearson (1981) Derry Michener & Booth. No prior mining. Tested by three levels of undergound adits.
f: Thompson & Pearson (1981) Derry Michener & Booth. No prior mining.
Note 1: This resource estimate was prepared from incomplete old plans and sections, considerable verification drilling
is required prior to placing reliance on this information.
Note 2: Historic Resource Classifications used in mineral resource estimates at the Dolly Varden deposits termed blocks
with closely spaced drilling and bulk sampling data "Proven and Probable Reserves" and made allowances for mining
operations and dilution. However, significant additional technical work is required. In the current terminology these
blocks would be termed Measured and Indicated Mineral Resources, however, for the purposes of this Technical Report
they are to be considered Geological Information only and subject to verification by drilling and sampling, prior to
reclassification.
Note 3: Historic Resource Classifications used in mineral resource estimates at the Dolly Varden deposits termed blocks
with more widely spaced drilling "Possible Reserves". In the case of Torbrit, Thompson and Pearson (1981) reduced the
confidence to Possible because the closely spaced drilling data must be subject to considerable check drilling. In the
current terminology these blocks would be termed Inferred Mineral Resources, however, for the purposes of this
Technical Report they are to be considered Geological Information only and subject to verification by drilling and
sampling, prior to reclassification.
Note 4: The Qualified Person has not done sufficient work to classify the Historical Estimates as current Mineral
Resources or Mineral Reserves. Furthermore, the Issuer is not treating these Historical Estimates as current Mineral
Resources or Mineral Reserves.
*Notes from Geology and Mineral Exploration of the Dolly Varden Property, British Columbia, Canada
Sept. 5, 2011, as revised. By Terry Garrow - Filed on SEDAR
20. Validation and expansion of
*
historic mineral resources
Looking NNW Wolf Mine
North Star Mine Torbrit Mine
• 4 targets
• Mineralization zones of
5-20m true widths
Dolly Varden Mine • Potential for high grade
silver at depth
• Focus on Wolf, Dolly
Varden, and Torbrit
potential for mineral resource upgrade and expansion
21. Notes on Historic mineral resource Survey Branch
* BC Geological estimates
“the Dolly Varden deposits
may be silver-rich analogues
to the precious metal-rich
Eskay Creek deposit”
(Dunne and Pinsent (2002) of the BC Geological Survey Branch)
22. Areal Size Comparison to Eskay Creek
*
Dolly Varden feeder zone much larger than Eskay Creek feeder zone (shown at same scale)
23. 1
Dolly
Dolly
Varden
New VMS exploration target
New VMS exploration target Varden
Silver
Silver
Eskay Creek Deposit Model
with comparable geological
features at Dolly Varden
vertical footwall feeders mineralize horizontal ocean-floor strata
24. VMS deposit identification
*
Looking NNW
Wolf Mine
Surprise
3D map-red
zone
• 5km strike length of
strong feeder style
Dolly Varden Mine alteration on the property
• Potential for gold-silver
VMS at depth beneath
intense Red Point alteration
zone
potential for new Eskay Creek-type deposit
25. 2012 exploration program completed
*
Dolly Varden Mine – Diamond Drilling
• Oriented core - diamond drilling completed 6 drill holes for a total of 1,728 meters, during a
weather shortened season.
• Additional drill pads constructed for use next year
Red Point Surface Exploration
• Surface mapping and sampling employed to gather lithogeochemical and trace element
information on the Red Point alteration – feeder system
• Historical diamond drill core recovered for further studies
Surface Exploration & Airborne Surveys
• ZTEM + Magnetic Helicopter-borne geophysical surveys completed early October 2012
• Data delivery pending & Modeling underway on 2010 and 2012 Airborne programs
• Geological mapping and sampling in Moose Lamb, area east of Torbrit: Extensive alteration
and mineralization similar to nearby Torbrit discovered
• Geological mapping and sampling in Surprise area, west of Wolf:
a basis for further value creation
26. 2012 exploration program completed
*
Torbrit Mine Rehabilitation
• Underground access safely achieved for majority of 1025 level and upper sub-
levels
• Historical survey control re-established and transformed to 2012 survey base
• Historical underground development & stoping data assembled and 3D
modeled employing the 2012 survey base – guide to confirmation drilling
Torbrit Mine Exploration & Permitting
• Underground mapping and sampling done in selected areas
• Surface diamond drill pads constructed for use in pending definition drilling
phase
• Environmental water sampling conducted with favorable good quality water
discharge results on Torbrit underground
• Rehabilitation of 1025 level and favorable water sampling results will allow for
Permitting of underground development and diamond drilling
a basis for further value creation
32. Use of Proceeds – Stage One Program
*
Dolly Varden 2012 Work Program Budget
Road & Bridges - Km 1 to 24 $ 824,750.00
Preparation & Mobilization $ 75,000.00
Program Support & Logistics $ 1,018,000.00
Geoscience Program $ 341,000.00
Drill Program – 8845 meters $ 2,641,450.00
Geotechnical & Environmental Program $ 298,000.00
Road & Bridges - Km 24 to Torbrit $ 33,000.00
Geotechnical & Environmental Program $ 172,800.00
Airborne Geophysical Program $ 210,000.00
Underground Rehab & Prep Work - Torbrit $ 950,000.00
Total Recommended Program: $ 6,564,000.00
33. 2012-13 Objectives – Longer Term Milestones
2012-2013 Objectives
• Increase silver resources at Dolly Varden and Torbrit deposits by drilling down
plunge of known Historic resource blocks.
• Limited infill drilling and underground sampling to begin to convert Wolf
historic resources, and 2011 drill results to 43-101 compliant categories.
• Refine Eskay target on Redpoint with geochemistry, alteration studies and
geophysics (VTEM) prior to drill testing (minimum 3 holes in 2012)
Longer Term Milestones (success contingent)
• SILVER MINERAL RESOURCES: Increase Historic resources at all 4 deposits
from current 14 million ounces to 45 to 50 million ounces of NI 43-101 compliant
resources.
• ECONOMIC STUDIES: Success contingent on defining 45 million + ounces,
initiate scoping & feasibility studies to determine the economic viability of a
1,000 to 1,500 tonne per day operation.
• EXPLORE ESKAY TARGETS; Continue to develop Eskay targets towards
discovery
34. Corporate Overview
• Evaluating the re-start of historic Dolly Varden
silver mines, BC
• Exploring a major untested Eskay Creek-type
gold and silver target
• Senior management team is experienced in both
Eskay Creek-type exploration and
the re-activation of old mines
• 2012-13 proposed diamond drill program of
8,900 m to confirm and expand silver resources
and define and drill Eskay-type targets.
35. Corporate Overview Contact Information
Dolly Varden Silver Corporation TSX-V:DV
Suite 910 – 355 Burrard Street
Vancouver, British Columbia, www.dollyvardensilver.com
Canada, V6C 2G8
Tel: 778-383-3083
Toll free: 1-855-381-3530
Ron F. Nichols
President, CEO & Director
Direct line: 604-398-4345
Investor Relations
Strata Star – Gary Lindsey
Tel: 1-720-273-6224
Email: gary@strata-star.com
