StrikePoint Gold Inc. (TSX-V:SKP) (OTCQB:STKXF) is pleased to announce that the Company has signed a definitive purchase and sale agreement dated May 7, 2025 with Dolly Varden Silver (TSX-V:DV) (NYSE:DVSL) (FSE:DVQ) whereby Dolly Varden will acquire the Company’s Porter Idaho property located in northwestern British Columbia, one of the Company’s non-core properties.

The key terms of the Agreement are:

• Strikepoint will sell its Porter Idaho property to Dolly Varden
• Dolly Varden will issue to Strikepoint 295,699 common shares of Dolly Varden.  The Consideration Shares have a market price, based on the closing price of Dolly Varden’s common shares on the TSX Venture Exchange on May 7, 2025, of $1,100,000
• Dolly Varden will file a Prospectus Supplement to its Base Shelf Prospectus dated April 25, 2023 allowing for the Consideration Shares to be issued to Strikepoint without any trading restrictions
• Subject to TSX Venture Exchange acceptance, closing will occur following the filing of the Prospectus Supplement

Michael G. Allen, President and CEO of StrikePoint said, “As StrikePoint continues to focus on the Hercules Gold Project in Nevada’s Walker Lane, we took advantage of the opportunity to increase shareholder value by divesting non-core projects into an experienced and expanding Golden Triangle explorer in Dolly Varden Silver.”

The Porter-Idaho property is located adjacent to the town of Stewart in the Golden Triangle in northwestern British Columbia.

While Strikepoint and Dolly Varden are not considered to be “related parties” pursuant to applicable securities laws, the parties are considered to be “non-arm’s length parties” pursuant to the policies of the TSXV on account that Shawn Khunkhun, Chief Executive Officer, President and a Director of Dolly Varden is also the Executive Chairman and Director of Strikepoint. The terms of the Acquisition were negotiated by disinterested members of management of Strikepoint and Dolly Varden. No finders fees or commissions are payable by the Company in connection with the transaction.

About StrikePoint

Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for approximately $120 million. The Sterling Gold Project is now part of AnglogGold Ashanti’s “Expanded Silicon” project.  In addition, Mr. Allen was the past President and CEO of Elevation Gold Mining Corporation, which operated Arizona’s largest gold mine.

The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.

StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.