1. 1
Dolly
Varden
Silver
Dolly
Varden
Silver
Corp.
Advanced project with clear targets
November 24, 2011
2. 2
Dolly
Varden
Forward-Looking Statements Silver
Some of the statements contained in this presentation are forward-looking statements, such as estimates and
statements that describe future plans, objectives or goals, including words to the effect that Dolly Varden
Silver Ltd. (the “Company”) implies a stated condition or that it forecasts certain results could occur. Because
forward-looking statements address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results relating to, among other things, reserves, resources, results of
exploration, reclamation and other post-closure costs, capital costs and mine production costs could differ
materially from those currently forecast in such statements by reason of factors such as changes in general
economic conditions and conditions in the financial markets, changes in demand and prices for the minerals,
litigation, legislative, environmental and other judicial, regulatory, technological and operational difficulties
encountered in connection with mining activities, labour relations matters, costs and changing foreign
exchange rates. This list is not exhaustive of the factors that may affect any of forward-looking statements.
These and other factors should be considered carefully and readers should not place undue reliance on the
Company’s statements.
3. This image cannot currently be display ed.
3
Dolly
Varden
Silver
silver story
with a
gold future
4. 4
Dolly
Varden
Corporate Structure Silver
Dolly Varden Minerals Inc.
TSX-V Listed
Amalgamation
Dolly Varden Twin Glacier Dolly Varden
Silver Ltd. Resources Ltd. Silver Corp.
Acquisition Private Listed Shell New public TSX-V Listed
of mineral company
assets only, for
$2.5 million
moving rapidly to public markets
5. 5
Dolly
Varden
Dolly Varden – Solid foundation Silver
owned 9,400 hectares (94 Km2)
4 historically active mines
Under-explored sectors
Native land claims settled
surrounded by world-class projects
6. 6
Dolly
Varden
Dolly Varden – Rich history Silver
Oz Ag* Historically active property
Well understood targets
*Historic production
Region with world-class projects
Catalysts for higher valuation
Experienced management team
potential for a rich future
7. 7
Dolly
Varden
Located in Northwestern BC Silver
Eskay Creek Major nearby projects:
KSM (Kerr)
Brucejack - Snowfields
Eskay Creek (Barrick) Historic Production
3.6MM oz Au + 180MM oz Ag
Silbak Premier
Brucejack (Pretium)
8.2MM oz Au + 116.2MM oz Ag
BC Moly
Silback Premier (Ascot) Historic Production
Dolly Varden
1.9MM oz Au + 42.8MM oz Ag
Kerr-Sulphurets (Seabridge Gold)
38.5MM oz Au + 214MM oz Ag
BC Moly (Avanti)
BC region capturing new interest
8. 8
Dolly
Varden
Located in the Stewart Complex Silver
Eskay Creek
Hazelton Group Arc assemblage (green)
KSM(Kerr)
Brucejack
Host to base and precious metal deposits
220M+ oz Ag produced historically Granduc
Silbak-Premier
7M+ oz Au produced historically
Wolf
Torbrit
Dolly Varden /
High sulphidation VMS occurs in the North Star
youngest Hazelton group rocks Big Bulk
BC Moly
typical mineralization for the region
9. 9
Dolly
Varden
Abundant local precious metals Silver
20M oz Ag produced at Dolly
3.6M oz Au and 180M oz Ag
Varden + Au Potential
produced at Eskay Creek
Only 3% of property explored in detail
10. 10
Dolly
Varden
Au-Ag-VMS are company makers Silver
Deposit Operator Country Tonnage Grade
Au(g/t) Ag(g/t) Cu(%) Pb(%) Zn(%)
Canadian VMS Deposits
Eskay Creek Barrick Canada 2.5 44.4 2087.7 — — —
LaRonge 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 AB
Boliden Sweden 8.3 15.1 48.3 1.4 — —
Norton
Mt. Morgan Australia 80.7 3.7 0.7 0.7 — —
Goldfields
Precious metal rich - VMS deposits with similar attributes
11. 11
Dolly
Varden
Excellent infrastructure – via Alice Arm Silver
2011 Logistics base and
camp located 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 underground
development
Good logistics for rehabilitation, development, and new exploration
12. 12
Dolly
Varden
Foundation for Dolly Varden’s plans Silver
$ Spent
since 631 diamond drill holes
1980 44,090 meters total
7 km underground
M+ development
1980’s Engineering studies
on mine, mill, and tailings
Historical resource estimate*: design
5.7M oz Ag Proven + Probable 2010 Airborne geophysical
8.8M oz Ag Possible survey - 942 line km
*Not NI 43-101 compliant,
Derry Michener Booth & Wahl (1986) 2011 Drill program of
4600m in 21 holes
extensively mapped by current management
13. 13
Dolly
Varden
Historic Mineral Resources* Silver
S.I. (Metric) Units Imperial Units
Historic
Location Resource Grade:
Grade: Contained: Contained:
Classification Tonnes Short Tons Ag(oz/ton)
Ag (g/t) Ag (t) Ag (oz)
Diluted
Torbrit Mine & Wolf
Possible 886,826 308.3 273.4 977,559 9.0 8,790,731
No. 2 Zone
Dolly Varden Mine,
Proven &
North Star Mine & 467,519 378.6 177.1 515,351 11.1 5,690,331
Probable
Wolf Mine
*Not 43-101 compliant
Derry Michener Booth & Wahl (1986)
basis for re-starting underground exploration and expanding resources
14. 14
Dolly
Varden
Size comparison to Eskay Creek Silver
Dolly Varden footwall alteration & exhalite deposit footprint much larger
15. 15
Dolly
Varden
Common attributes Silver
120 km
Dolly Varden Trend Eskay Creek Trend
VMS footprint VMS footprint
Stronger feeder system High sulphidation
Thick Ag rich distal exhalite Thin exhalite, anomalous
High sulphidation Hazelton group formation
Hazelton group formation 3 km strike length
8 km strike length 180 M oz Ag production
20 M oz Ag production, to 1959 3.6 M oz Au production
compelling similarities
16. 16
Dolly
Varden
VMS exploration target Silver
Eskay Creek Deposit Model
with comparable geological
features at Dolly Varden
vertical footwall feeders mineralize horizontal ocean-floor strata
17. 17
Dolly
Varden
Creating significant additional value Silver
Targeted
exploration
programs
1. Validation and 2. Identification of new
expansion of historical Eskay type deposits
resource estimates
clear targets
18. 18
Validation of historical Dolly
Varden
mineral resources Silver
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 and Torbrit
zone
potential for mineral resource upgrade
19. 19
Dolly
Varden
New deposit identification Silver
Looking NNW
Wolf Mine
Surprise
3D map-red
zone
Largest alteration trend in
district: 5km strike length
Dolly Varden Mine on Property
Potential for gold-silver
VMS at depth beneath
intense Red Point alteration
zone.
potential for new Eskay Creek
20. Dolly
Varden
Milestones Silver
• NI 43-101 Technical Report completed
Q2/11 • Airborne survey completed
• Work camp constructed in Alice Arm
Q3/11
• Surface drilling program, 4600m drilled
• Scope rehabilitation of underground workings
Q4/11 • Surface drill results
• Progress reporting
Q1/12
• Planning and permitting for road construction
• Design of 2012 Exploration Program
Q2/12 • NI 43-101 Resource Estimate
catalysts for value creation
21. Dolly
Varden
2011 Exploration Program Silver
Dolly • Surface of Dolly Varden & North Star mapped
• Portals re-opened and surveyed
Varden • Work camp constructed in Alice Arm
Torbrit
• BC Land Surveyors verified Torbrit mine grid on surface & U/G
• Rehabilitation of underground workings scoped
• Surface of Wolf mapped and historic drill hole collars located
BC Land Surveyors verified Wolf mine grid
Wolf
•
• 4600 m of diamond drilling in 21 holes
• Step-out and verification diamond drill intersections obtained
• Surface geological mapping and sampling
Red Point • BC Land Surveyors verified 1989-90 trenching and drill collars
catalysts for value creation
23. 23
Dolly
Varden
Wolf Mine Silver
Three zones
Vein and Stratibound
styles
Hydrothermal
breccias
2011 drilling
indicates native silver
and silver-bearing
sulphides
Assays pending
24. 24
Dolly
Varden
Wolf Longitudinal Projection 2011 Drilling Silver
25. 25
Dolly
Varden
Why now? Silver
• New consolidated property ownership
• Management with regional experience in
precious metal rich VMS deposits
• New strategy targets two opportunities
• High precious metal prices catalyst for
valuation
time is right for a future Ag producer with Eskay creek potential
26. 26
Dolly
Varden
Experienced management team Silver
John King Burns • Former CFO of Drexel Burnham Lambert Commodity Group
• Former managing director of Barclays Metals Group
Chairman
• Extensive capital markets experience
• Extensive resource sector experience
Ron Nichols • 30+ years of exploration experience (20 years with Cominco)
• Recently re-started silver-copper-lead-zinc La Negra Mine
President
• Coordinated feasibility study and financing to re-start Shafter Mine
P. Eng
• Involved in delineation of Valley Copper and Snip Mines in BC
Paul McGuigan • Principal of Cambria Geosciences
• 35+ years of experience in mineral exploration and mining operations
VP of Exploration
• Active in BC exploration since 1975
P. Geo
Allen Ambrose • 30+ years of exploration and mining experience
• Co-discoverer of Brisas del Cuyuni gold deposit
Director
• Director/Co-founder of multiple resource companies including Minera
P. Geo Andes
Theo Sanidas • 10+ years of mining industry experience
• Extensive capital markets background
Director
• Experience with M&A, financing and corporate restructuring activities
27. Dolly
Varden
Questions Silver
Ron Nichols
President
Dolly Varden Silver
778 999 2544
Paul McGuigan
Vice President
Dolly Varden Silver
604 261 1641
27
