Dolly Varden Provides Update on Exchangeable Share Election Process

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) ("Dolly Varden" or the "Company") provides an update for its registered shareholders who hold their Dolly Varden common shares (the "Dolly Varden Shares") via direct registration statement ("DRS") on how they may submit their Letter of Transmittal and Election Form with the depositary in order to receive exchangeable shares as consideration under its proposed merger of equals with Contango ORE., Inc. ("Contango") by way of a court approved plan of arrangement, (the "Arrangement") which is expected to close next week.