<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000719413</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0001542028</issuerCik>
      <issuerName>DOLLY VARDEN SILVER CORP</issuerName>
      <secFileNumber>001-42593</secFileNumber>
      <issuerAddress>
        <com:street1>SUITE 1130 - 1055 W HASTINGS STREET</com:street1>
        <com:city>VANCOUVER</com:city>
        <com:stateOrCountry>A1</com:stateOrCountry>
        <com:zipCode>V6E 2E9</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>(604) 687-8566</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>HECLA MINING CO/DE/</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>10% Stockholder</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>RBC Capital Markets</name>
        <address>
          <com:street1>200 Bay Street</com:street1>
          <com:street2>South Tower, 5th Floor</com:street2>
          <com:city>Toronto</com:city>
          <com:stateOrCountry>A6</com:stateOrCountry>
          <com:zipCode>M5J 2W7</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>1000000</noOfUnitsSold>
      <aggregateMarketValue>7450000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>90913545</noOfUnitsOutstanding>
      <approxSaleDate>01/20/2026</approxSaleDate>
      <securitiesExchangeName>TSX-Venture Exchange</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>09/08/2017</acquiredDate>
      <natureOfAcquisitionTransaction>subscription of shares</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Dolly Varden Silver Corp</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1000000</amountOfSecuritiesAcquired>
      <paymentDate>09/08/2017</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>01/20/2026</noticeDate>
      <signature>Carlos Aguiar, President</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
