Dakota Gold Corp

Dakota Gold Corp. (NYSE American: DC) is a gold exploration and development company with a specific focus on expanding the legacy of the 145-year-old Homestake Gold Mining District by advancing the Richmond Hill Oxide Heap Leach Gold Project to commercial production as soon as 2029, and outlining a high-grade underground gold resource at the Maitland Gold Project, both located on private land in South Dakota. 

On February 2025 Dakota Gold announced a S-K 1300 Initial Assessment outlining significant heap leachable gold at Richmond Hill including:

• 3.65 M oz M&I Gold
• 2.61 M oz Inferred Gold
• 38.1 M oz M&I Silver
• 22.8 M oz Inferred Silver

An S-K 1300 Initial Assessment with Cash Flow (IACF) was published in July 2025 for Richmond Hill which highlights robust economics including low costs, long mine life and high margins for the project.

IACF Highlights:

• Richmond Hill is one of the largest development stage oxide gold resources in the United States: M&I plan identifies 168.3 million tonnes at a grade of 0.566 grams per tonne gold (“g/t Au”) for a total of 2.6 million ounces produced over a 17-year life of mine. MI&I plan identifies 273.7 million tonnes at a grade of 0.530 g/t Au for a total of 3.9 million ounces produced over a 28-year life of mine.
• Strong Economics: At a base case gold price of $2,350 per ounce, the project has an after tax NPV5% of $1.6 billion and IRR of 55% for the M&I plan, and $2.1 billion and 59% respectively for the MI&I plan. At recent metal prices of $3,350 the NPV5%’s increase to $2.9 billion and IRR of 99% and $3.7 billion and 107%, respectively.
• Low-Cost: Initial Capital of $384 million, including $53 million contingency, with life of mine All-in Sustaining Costs (“AISC”) averaging $1,047 for M&I plan and $1,050 for MI&I plan.

Catalysts:

• Feasibility Underway: Building on the robust IACF, work has commenced on the Feasibility Study planned for completion in early 2027, construction in 2028 and production targeted for 2029.
• Resource Expansion Opportunities: A 27,500 meter (~90,000 feet) drill campaign for 2025 is underway to target higher grade areas for initial mining and the conversion of resources from inferred to the measured and indicated categories.