Ahead of the Bell: See Why Dolly Varden Silver (NYSE: DVS) is Topping Our Watchlist Right Now

*Sponsored by LFG Equities Corp. Market Crux Announces Coverage On Dolly Varden Silver (NYSE: DVS) Consider Starting Your Own Research On (DVS) This Morning. Here’s What We Can Tell You—Right Now… (DVS) is Newly Listed On NYSE American As Of Early This Week, Expanding Visibility To A Wider U.S. Audience (DVS)’s Valuation Climbed Approximately 1,400% From $20M In 2020 To Over $300M Today, Backed By Technical And Strategic Execution Kitsault Valley Project Now Spans Seven Deposits Across Fifteen Kilometers, Balanced Between Silver And Gold Analysts From Haywood, Raymond James, And Research Capital Are Covering The Company With Detailed Technical Models Take A Look At Dolly Varden Silver (NYSE: DVS) Before The Bell Rings… April 23, 2025 Dear Reader, Here we are ahead of the bell. Have you pulled up Dolly Varden Silver (NYSE: DVS) and started your own research yet?  There’s about 15 minutes to go. Not every company is born from headlines.  Some quietly shape their path—drilling deep, consolidating ground, and revealing their potential core by core. That’s what we’re seeing right now with Dolly Varden Silver (NYSE: DVS). Tucked into British Columbia’s Golden Triangle, this company controls one of the largest high-grade, undeveloped silver assets in North America—and its story is starting to turn heads for a reason. Just this week, Dolly Varden was officially listed on the NYSE American, a move that now puts the company on the radar of a much broader U.S. audience.  While still under the radar for most, the listing marks a meaningful step forward—aligning its market visibility with the scale of the asset it’s continuing to build. A Strategic Ascent, Years in the Making Since 2020, Dolly Varden has quietly executed a methodical growth strategy.  Over that time, its valuation has increased from $20M to over $300M—a move of roughly 1,400%—fueled by: Over 135k meters of drilling $120M in capital raised The acquisition of Homestake Ridge from Fury Gold Mines Expansion across the 15-kilometer Kitsault Valley trend It’s not just the scale—it’s the consistency. From 11k drilled in 2020 to over 32k meters completed in 2024, the pace hasn’t let up​. But growth like this doesn’t just show up on a chart—it has to be earned. Over the last five years, Dolly Varden has quietly stacked milestone after milestone.  Some came with headlines… others didn’t. But together, they laid the groundwork for what’s unfolding now. From leadership changes and key surface rights… To major asset acquisitions, deep drilling campaigns, and strategic capital infusions… The timeline above captures a rare stretch of consistent execution—one that built this foundation year by year. This is the kind of groundwork that takes years to build… and only moments for the broader market to finally notice. The Kitsault Valley Project: A Consolidated High-Grade Asset In 2022, Dolly Varden Silver Corporation consolidated its flagship Dolly Varden Project with the adjacent Homestake Ridge Project, forming the expansive Kitsault Valley Project.  This 163 square kilometer property, located in the southern tip of British Columbia's Golden Triangle, is now 100% owned by Dolly Varden and encompasses a 15-kilometer mineralized trend. The project hosts seven known precious metal deposits: Dolly Varden Area: Wolf, North Star, Dolly Varden, and Torbrit Homestake Ridge Area: Homestake Main, Homestake Silver, and South Reef This consolidation has transformed the company's resource profile, balancing its assets to approximately 50% silver and 50% gold by value. The strategic merger not only increased the project's economic viability but also provided economies of scale in exploration, permitting, and development. The Kitsault Valley Project is situated within the same structural and stratigraphic belts that host other significant high-grade deposits like Eskay Creek and Brucejack, indicating a strong potential for further precious metal discoveries. Inside the Call: What the Team Revealed Behind the Scenes During recent updates, CEO Shawn Khunkhun has emphasized that Dolly Varden is now executing on a multi-year blueprint: systematically expanding known zones, tightening infrastructure plans, and preparing the ground for future scalability. What’s especially notable: one-third of the exploration team is from the Nisga’a Nation, and the company maintains active, transparent relationships with Indigenous communities—a key differentiator when it comes to operational readiness in northern Canada​. The Homestake Silver zone, Wolf, and new Moose/Chance targets are all being tested in tandem—revealing a pipeline of potential across the Kitsault Valley trend that may still be early in its full definition. A Strategic Shift Is Underway The company’s 2024 efforts have centered on extending known zones and exploring potential structural links beneath the sedimentary layers—a shift that could redefine the scale and continuity of the system. From pure silver production roots to the addition of gold-rich zones at Homestake Ridge, this isn’t just about growing ounces—it’s about transforming the profile of the entire project. As that evolution continues, here are five company highlights that help explain why Dolly Varden is now being tracked more closely: Key Company Highlights: Rare Positioning in a Tight Market: Only 11 primary silver miners exist globally, and Dolly Varden is one of the few pure-play names advancing a late-stage asset in a Tier 1 jurisdiction. High-Grade Production History & Expansion Potential: Between the historic Torbrit and Dolly Varden Mines, over 20M ounces of silver have already been produced. Recent assays from the Wolf Vein system include standout hits like 1,091 g/t Ag over 9.38m and 2,520 g/t Ag over 2.80m. A Clean, Well-Capitalized Balance Sheet: As of April 7, 2025, Dolly Varden held $32M CAD in ca-sh, carried no long-term debt, and counted Hecla Mining, Sprott, and Fidelity among its top shareholders. Strategic Positioning in a Regional M&A Hotbed: Over $5B in acquisitions have occurred near Dolly Varden’s properties since 2018. The company sits in the heart of British Columbia’s Golden Triangle—where Newmont, Teck, and Seabridge have already made significant moves. 2024 Drilling Results Turned Up the Volume: Step-outs at the Moose and Chance veins returned grades as high as 3,670 g/t Ag, while the Wolf zone continues to demonstrate vertical expansion and structural continuity. Who’s Covering Dolly Varden: Analyst Eyes Already on the Ground… While the broader market may just be catching on, seasoned analysts have been following the story for some time. Dolly Varden Silver Corporation is currently covered by analysts from several respected institutions, including: Marcus Gianni – Haywood Securities Stuart McDougall – Research Capital Corporation Craig Stanley – Raymond James Recent analysis from Research Capital Corporation has specifically highlighted Dolly Varden’s high-grade silver-bearing veins and applied valuation metrics based on in situ silver and gold resources across the Kitsault Valley Project. Combined with strategic backing from names like Hecla Mining, Fidelity, and Sprott, this foundation of formal analyst coverage suggests the story is already resonating with professionals who specialize in high-grade, late-stage assets. With its NYSE American listing now live and exploration activity continuing across multiple zones, Dolly Varden may soon find itself under an even wider lens. 4 Reasons Why Dolly Varden (NYSE: DVS) is Topping Our  Watchlist This Morning… 1. Newly Listed on the NYSE American: As of April 21, 2025, Dolly Varden Silver (NYSE: DVS) was officially listed on the NYSE America — significantly increasing its visibility to U.S. institutions and retail platforms. 2. Multi-Year VMove of Approx. 1,400%: From $20M in 2020 to over $300M today, Dolly Varden Silver (NYSE: DVS)’s move into the spotlight has been powered by consistent exploration, acquisitions, and technical success—not hype. 3. Consolidated High-Grade Project With Dual Metal Exposure: Its 100%-owned Kitsault Valley Project now spans 7 deposits over a 15-kilometer mineralized trend and is balanced roughly 50/50 between silver and gold by value. 4. Institutional Coverage: Analysts from Haywood, Raymond James, and Research Capital are watching. Coverage from multiple institutions confirms professional interest is already building—backed by detailed technical assessments and valuation models. We Have All Eyes On Dolly Varden (NYSE: DVS) This Morning… Dolly Varden Silver (NYSE: DVS) has spent the past five years building, consolidating, and drilling—with results that are now difficult to ignore. From the formation of its Kitsault Valley Project to its expanding resource base and recent listing on the NYSE American, this is a company that has moved with intention—and is now positioned to be seen on a much broader stage. Its silver-gold balance, consistent technical execution, and growing institutional attention are all signals that something more substantial may be unfolding beneath the surface. We have all eyes on (DVS) this morning. Consider taking a look at (DVS) and doing your own research before the bell rings. I’ll be following up with you shortly—so keep an eye out for my next update. Sincerely, Gary Silver Managing Editor, MarketCrux MarketCrux.com (“MarketCrux” or “MC” ) is owned by Headline Media LLC, a multi member limited liability company. 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