Dolly Varden

Silver Dolly

Varden

Silver

Corporation

New Silver Company with Eskay Au–Ag Potential

April 2, 2012

Dolly Varden

Silver

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.

Forward-Looking Statements

2

Dolly Varden

Silver

Past-producing silver mine

Precious metal rich Eskay Creek potential

with

3

Dolly Varden

Silver Two strategies for creating value

• Confirm & expand historic silver resources

with the goal to re-start the historic Dolly

Varden silver mines, BC

• Explore a major untested Eskay Creek-type

gold & silver target at Dolly Varden

• Management team experienced in both

Eskay Creek-type exploration and re-starting

past producing mines

4

Dolly Varden

Silver Dolly Varden – Solid foundation

%

owned • Property acquired in Spring 2011

• 9,400 hectares (94 Km2)

• 2 historically active mines

• 2 deposits with underground

Development

• Native land claims settled 5

Dolly Varden

Silver Dolly Varden – Rich history

M Oz Ag* • Historical production

• Well understood targets

• Region with world-class projects

• Experienced senior management

*Historical production

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Dolly Varden

Silver

surrounded by world-class projects

Dolly Varden

Eskay Creek Major nearby projects:

•Eskay Creek (Barrick) Historic Production

3.6MM oz Au + 180MM oz Ag

• Brucejack (Pretium)

• Silback Premier (Ascot) Historic Production

• Kerr-Sulphurets (Seabridge Gold)

• BC Moly (Avanti)

Located in northwestern BC

7

KSM (Kerr)

Brucejack - Snowfields

Silbak Premier

BC Moly

7

Snip

Dolly Varden

Silver Located in the Stewart Complex

typical mineralization for the region

Dolly Varden /

North Star

8

Brucejack

KSM(Kerr)

Granduc

BC Moly

Big Bulk

Wolf

Torbrit

Eskay Creek

Silbak-Premier

Hazelton Group Arc assemblage (green)

Host to base and precious metal deposits

220M+ oz Ag produced historically

7M+ oz Au produced historically

High sulphidation VMS occurs in the

youngest Hazelton group rocks

8

Dolly Varden

Silver

*Dubé et al, Geological Survey of Canada

Deposit Operator Country Tonnage Grade

(M t) Au(g/t) Ag(g/t) Cu(%) Pb(%) Zn(%)

Canadian VMS Deposits

Eskay Creek Barrick Canada 2.5 44.4 2087.7 — — —

LaRonde Agnico Eagle Canada 43.5 4.2 52.1 0.3 — 2.7

Horne Noranda Mines Canada 54.3 6.1 13.0 2.2 — —

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 0.0 4.1 10.9

Abyz Kazakhmys Kazakhstan 4.4 6.5 61.0 2.1 — 5.4

Boliden Boliden AB

Sweden 8.3 15.1 48.3 1.4 — —

Mt. Morgan Norton

Goldfields Australia 80.7 3.7 0.7 0.7 — —

World-class gold VMS deposits with at least

30 tonnes gold in production & reserves*

9

Dolly Varden

Silver

• 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

Excellent infrastructure – via Alice Arm

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Dolly Varden

Silver

extensively mapped by current management

Extensive exploration by

previous owners:

• 631 diamond drill holes

• 44,090 meters of drilling

• 7 km underground

development

• 1980’s Engineering

studies on mine, mill, and

tailings design

$

M+

Spent

since

1980

Foundation for Dolly Varden’s plans

Historical resource estimate*:

5.7M oz. Ag Proven + Probable

8.8M oz. Ag Possible The qualified person has not done sufficient work to

classify the Historical Estimates as current mineral

Resources or Reserves. Furthermore, the issuer is not

treating these Estimates as current Mineral Resources or

Mineral Reserves.

*Derry Michener Booth & Wahl (1986) 11

Dolly Varden

Silver

clear targets

1. Validation and

expansion of historic

silver resource estimates

Targeted

exploration

programs

2. Identification of new,

major Eskay Creek-type

gold & silver deposits

Creating significant additional value

12

Dolly Varden

Silver

“the best new mines

near old mines” are often found

13

Dolly Varden

Silver

14

Dolly Varden

Silver Historic mineral resources* (Dilution at 10 – 16%)

* Derry Michener Booth & Wahl (1986) See Note 4 and additional disclosure on Pg 15

Location Historic

Resource

Classification

Tonnes Silver

Grade

(g/t)

Contained

Silver

(ounces)

Dolly Varden Mine –

(a)

Proven &

Probable (P & P)

42,638 754.3 1,034,000

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

Possible

5,690,331

8,790,731

All cut off grades 171 g/t silver

Geology and Mineral Exploration of the Dolly Varden Property, British Columbia,

Canada Sept. 5, 2011, as revised. By Terry Garrow - Filed on SEDAR. 15

Dolly Varden

Silver

Comments:

a: Skerl (1964) and Mann (1974) Dolly Varden Mine staff. Remaing 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

Notes on Historic mineral resource estimates*

16

Dolly Varden

Silver

Validation of

historic mineral resources

potential for mineral resource upgrade

Wolf Mine Looking NNW

Dolly Varden Mine

Torbrit Mine North Star Mine

• 4 targets

• Mineralization zones of

5-20m true widths

• Potential for high grade

silver at depth

• Focus on Wolf and

Torbrit zone

17

Dolly Varden

Silver

“the Dolly Varden deposits

to the precious metal-rich Eskay Creek deposit”

may be silver-rich analogues

(Dunne and Pinsent (2002) of the BC Geological Survey Branch)

18

Dolly Varden

Silver Size comparison to Eskay Creek

Dolly Varden footwall alteration & exhalite deposit footprint much larger 19

Dolly Varden

Silver

DollyVarden

SilverNew VMS exploration target

vertical footwall feeders mineralize horizontal ocean-floor strata

1

Eskay Creek Deposit Model

with comparable geological

features at Dolly Varden20

Dolly Varden

Silver Common attributes

• VMS footprint

• Thin exhalite, anomalous

• High sulphidation

• Hazelton group formation

• 3 km strike length

• 180 M oz Ag production

• 3.6 M oz Au production

• VMS footprint

• Thick Ag rich distal exhalite

• High sulphidation

• Hazelton group formation

• 8 km strike length

• 20 M oz Ag production,

120 km

Dolly Varden Trend Eskay Creek Trend

stronger feeder alteration system at Dolly Varden 21

Dolly Varden

Silver Hydrothermal Eruption Breccia Textures

WOLF WOLF

ESKAY ESKAY

22

Dolly Varden

Silver VMS deposit identification

potential for new Eskay Creek-type deposit

3D map-red

zone

Dolly Varden Mine

Wolf Mine

• Largest alteration trend

in district: 5km strike

length on property

• Potential for gold-silver

VMS at depth beneath

intense Red Point alteration

zone

Looking NNW

Surprise

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Dolly Varden

Silver 2011 exploration program completed

a basis for further value creation

Dolly Varden

• Surface of Dolly Varden & North Star mapped

• Portals re-opened and surveyed

• Work camp constructed in Alice Arm

Torbrit • BC Land Surveyors verified Torbrit mine grid on surface & U/G

• Rehabilitation of underground workings scoped

Wolf

• Surface of Wolf mapped and historic drill hole collars located

• BC Land Surveyors verified Wolf mine grid

• 4,600 m of diamond drilling in 21 holes

• Step-out and verification diamond drill intersections obtained

Red Point • Surface geological mapping and sampling

• BC Land Surveyors verified 1989-90 trenching and drill collars

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Dolly Varden

Silver Milestones since acquisition

catalysts for value creation

Q2/11 • NI 43-101 Technical Report completed

• Airborne survey completed

• Work camp constructed in Alice Arm

Q3/11 • Completed surface drilling program, 4,600m drilled in 21 holes on

the Wolf deposit.

• Scoped the rehabilitation of underground workings

Q4/11 • Technical reporting

Q1/12 • Trading of shares commenced Feb. 14, 2012 on TSX.V, Tier One

• Planning and permitting for road construction

• Surface drill results reported

• Design of 2012 exploration program

25

Dolly Varden

Silver Wolf mine - Helicopter supported diamond drilling

26

Dolly Varden

Silver

Wolf Mine:

Plan

• Three mineralized zones

• Vein and Stratibound styles

• Hydrothermal breccias

• 2011 drilling indicates

native silver and silver-

bearing sulphides over large

widths

27

Dolly Varden

Silver Wolf longitudinal projection - 2011 Drilling

28

Dolly Varden

Silver Experienced Board of Directors

John King Burns

Chairman

• Former CFO of Drexel Burnham Lambert Commodity Group

• Former managing director of Barclays Metals Group

• 30+ years of extensive capital markets and resource sector experience

Allan Marter

Director

• 30+ years experience as a Chartered Accountant and CFO of various mining companies, including 7 years as President of EURO Ressources S.A.

• Former Director of Minera Andes

• Experienced in exploration, development and operational stages.

Ron F. Nichols, P. Eng.

President & CEO

• 30+ years (20 years with Cominco) of exploration and development 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.

VP Exploration

• Principal of Cambria Geosciences Inc., formerly with Esso Resources

• 35+ years of experience in mineral exploration and mining operations

• Active in BC exploration since 1975

Allen Ambrose, P. Geo.

Director

• 30+ years of exploration and mining experience

• Co-discoverer of Brisas del Cuyuni gold deposit

• Director/Co-founder of multiple resource companies incl. Minera Andes

Theo Sanidas

Director

• 10+ years of mining industry experience

• Extensive capital markets background

• Experience with M&A, financing and corporate restructuring activities 29

Dolly Varden

Silver Capital structure

Dolly Varden Silver Corporation Upon Listing

Issued Common Shares 80,265,000

Options 6,375,000

Warrants 10,479,400

Fully Diluted Shares O/S 97,119,400

Basic cash* $2.7 MM

Debt Nil

Market Cap (Basic @ $0.25/share) Approx. $20 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

Dolly Varden

Silver 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 experienced in

both Eskay Creek-type exploration and re-

starting old mines

• 2011 diamond drill program of 4,600 m in

21 holes

31

Dolly Varden

Silver

Dolly Varden Silver Corporation

Suite 910 – 355 Burrard Street

Vancouver, British Columbia

Canada V6C 2G8

Tel: 778-383-3083

Toll free: 1-855-381-3530

Ron F. Nichols

President, CEO & Director

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