Dolly Varden Silver Corporation announced that, at the request of the Board of Directors, John King Burns and George Heard have stepped back from their duties at the company, taking leaves of absence as Chairman and CEO/President, respectively. The Board has constituted a Special Committee of the independent directors to investigate disputes between Messrs. Burns and Heard as well as other management matters that have recently come to the attention of the Board.

The investigation is expected to be completed in the next few weeks. Allan Marter, a long-standing director, has been appointed as Co-Chairman of the Board and will be the contact person for the Board in carrying out its normal business in the meantime. Ron Nichols, ex-CEO of Dolly Varden and current Vice President Exploration, is coordinating and managing the receipt and compilation of results from the recently completed field program.