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Dolly Varden Acquires High-Grade Silver Porter Project in Golden Triangle
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Dolly Varden Silver Corporation (TS...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"Dolly Varden Acquires High-Grade Silver Porter Project in Golden TriangleVancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE: DVS) (FSE: DVQ) (the \"Company\" or \"Dolly Varden\") is pleased to announce that it has entered into a definitive agreement with Strikepoint Gold Inc. (\"Strikepoint\") to acquire Strikepoint's interest in the Porter Project (the \"Project\"), located in the Golden Triangle, British Columbia (the \"Acquisition\"), further strengthening Dolly Varden's position as a prominent precious metals exploration Company in the region.\"Dolly Varden is acquiring a 100% interest the highest grade, pure silver historic producer in northwest BC. The Porter Project has seen historic silver production that produced significant direct-shipping silver ore and hosts substantial known silver mineralization that is wide open for expansion. This Project is an accretive addition to our growing mineral tenure position in the southern Golden Triangle,\" said Shawn Khunkhun, President and CEO of Dolly Varden.HighlightsAcquisition of Strikepoint's interest in 15 contiguous claims and 46 crown grants, encompassing an area of approximately 3,192 hectares.Exploration potential of the Project includes the potential of connecting the high grade historic silver mines of Porter Idaho and Silverado that are separated by 2,350 meters of untested potential.The Project is located 35 kilometers northwest of the silver deposits on Dolly Varden's Kitsault Valley Project, just four kilometers from the town of Stewart and 21 kilometers southeast of Ascot Resource's Premier mine and mill. Transaction DetailsDolly Varden has agreed to purchase from Strikepoint all of its interests to the Project for consideration of $1,100,000, which shall be satisfied by Dolly Varden issuing to Strikepoint 295,699 common shares of Dolly Varden (the \"Consideration Shares\"), to be issued to Strikepoint at a deemed price of $3.72 per Consideration Share.The issuance of the Common Shares and completion of the Acquisition remains subject to TSXV and NYSE America approval and other customary conditions and is currently expected to occur in the second half of May. The Company has agreed to use commercially reasonable efforts to promptly make all filings and take all necessary actions required to effect the Acqui...