Dolly Varden Provides Update on Exchangeable Share Election Process

Core Viewpoint - Dolly Varden Silver Corporation is providing an update to its registered shareholders regarding the submission process for the Letter of Transmittal and Election Form related to its proposed merger with Contango ORE, Inc. The merger is expected to close shortly after court approval. Group 1: Merger Details - The merger with Contango ORE, Inc. is structured as a court-approved plan of arrangement, expected to close next week [1] - The final court hearing for the approval of the Arrangement is scheduled for March 23, 2026 [4] Group 2: Shareholder Instructions - Registered shareholders holding Dolly Varden Shares via direct registration statement (DRS) must submit their Letter of Transmittal and Election Form by 5:00 PM Eastern Time on March 24, 2026, to receive exchangeable shares [3] - If shareholders do not submit the required form by the deadline, they will automatically receive shares of voting common stock of Contango [3] Group 3: Company Overview - Dolly Varden Silver Corporation is focused on advancing its 100% held Kitsault Valley Project, which includes the Dolly Varden Project and the Homestake Ridge Project, located in the Golden Triangle of British Columbia [5] - The Kitsault Valley Project encompasses approximately 100,000 hectares of prospective tenure and includes five past-producing high-grade silver mines [5] - The project is considered prospective for further precious metal deposits and contains properties that may host copper and gold mineralization [5]