<?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>ID</com:stateOrCountry>
        <com:zipCode>V6E 2E9</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>(604) 687-8566</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>HECLA MINING CO/DE/</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Shareholder</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Shares</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>4606374</noOfUnitsSold>
      <aggregateMarketValue>29950000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>90913545</noOfUnitsOutstanding>
      <approxSaleDate>02/11/2026</approxSaleDate>
      <securitiesExchangeName>TSX</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/25/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Subscription of shares</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Dolly Varden Silver Corp.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>4606374</amountOfSecuritiesAcquired>
      <paymentDate>02/25/2022</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/20/2026</saleDate>
      <amountOfSecuritiesSold>490000</amountOfSecuritiesSold>
      <grossProceeds>3652901.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/21/2026</saleDate>
      <amountOfSecuritiesSold>370000</amountOfSecuritiesSold>
      <grossProceeds>2644797.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/22/2026</saleDate>
      <amountOfSecuritiesSold>690000</amountOfSecuritiesSold>
      <grossProceeds>5331906.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender St.</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/23/2026</saleDate>
      <amountOfSecuritiesSold>650000</amountOfSecuritiesSold>
      <grossProceeds>4997525.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/26/2026</saleDate>
      <amountOfSecuritiesSold>250000</amountOfSecuritiesSold>
      <grossProceeds>1992500.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>01/27/2026</saleDate>
      <amountOfSecuritiesSold>300000</amountOfSecuritiesSold>
      <grossProceeds>2120010.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>02/03/2026</saleDate>
      <amountOfSecuritiesSold>850000</amountOfSecuritiesSold>
      <grossProceeds>5472980.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>02/06/2026</saleDate>
      <amountOfSecuritiesSold>200000</amountOfSecuritiesSold>
      <grossProceeds>1230000.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender Street</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>02/09/2026</saleDate>
      <amountOfSecuritiesSold>959000</amountOfSecuritiesSold>
      <grossProceeds>6120722.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Alexco Resource Corp.</name>
        <address>
          <com:street1>800 W. Pender St.</com:street1>
          <com:street2>Suite 970</com:street2>
          <com:city>Vancouver </com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6C 2V6</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>02/10/2026</saleDate>
      <amountOfSecuritiesSold>700000</amountOfSecuritiesSold>
      <grossProceeds>4529980.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>02/10/2026</noticeDate>
      <signature>Russell D. Lawlar, Sr. Vice President &amp; CFO</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
