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Dakota Gold Corp. intercepts 3.33 grams/tonne Gold over 9.9 meters of Tertiary epithermal mineralization in the Unionville Zone

July 9, 2024

LEAD, SOUTH DAKOTA – Dakota Gold Corp. (NYSE American: DC) (“Dakota Gold” or the “Company”) is pleased to announce that it has intersected additional higher-grade Tertiary epithermal gold mineralization associated with the Unionville Zone at the Maitland Gold Project (“Maitland”) in South Dakota.

Significant Highlights (See Table 1):

  • Drill holes MA24C-049 intersected 3.33 grams/tonne gold (g/t Au) over 9.9 meters and 1.51 g/t Au over 19.1 meters, and MA24C-050 intersected 3.50 g/t Au over 6.1 meters of shallow Tertiary epithermal mineralization.
  • Prior reporting shows higher-grade intersections including 3.57 g/t Au over 36.48 meters of Tertiary epithermal mineralization along the Unionville Zone structure which was announced with the discovery hole MA22C-009 on Feb 8th, 2023.
  • Tertiary epithermal mineralization in the Unionville Zone, as well as in parallel structures remain open along strike in both directions and indicate widespread mineralization throughout the Maitland Gold Project.

James Berry, Vice President Exploration of Dakota Gold, said, “While Homestake Mine-style gold mineralization remains the primary focus of the Maitland exploration program, we continue to encounter shallow Tertiary epithermal gold mineralization in the Unionville Zone in the same areas where we are targeting deeper Homestake Mine-style mineralization. This means that we are often able to target two types of mineralization in the same hole, providing Dakota Gold with exceptional optionality. Furthermore, as we continue to explore Maitland, we expect to encounter additional parallel structures adding to the potential extension strike length that is already in excess of 3,000 meters and is open to the north and south.”

Table 1. Released Drill Results (Metric / Imperial)1,2

The table may contain rounding errors.

  1. Abbreviations in the table include ounces per ton (“oz/ton”); grams per tonne (“g/t”); feet (“ft”); meter (“m”); Tertiary mineralization (“Tert”).
  2. True Thickness Unknown.
  3. Mineralization in the intersection of drill hole MA24C-046 at 5.1 meters down hole may have been impacted by historical tailings through which the exploration hole was drilled.

Figure 1. Plan view of Dakota Gold Corp. Maitland drill holes with highlighted drill holes containing Tertiary epithermal gold mineralization.

Figure 2. Long section view of Dakota Gold Corp. Maitland drill holes looking east with highlighted drill holes containing Tertiary epithermal gold mineralization.

The Company currently has four drills on site at its properties in the Homestake District of South Dakota. The Unionville Zone drilling is testing for Tertiary epithermal gold mineralization and is one of three ongoing programs being advanced by the Company - the other two being Homestake Mine-Style gold mineralization in the JB Gold Zone at Maitland and the infill and step-out drilling at the Richmond Hill Gold Project to update the S-K 1300 resource estimate. The Unionville Zone at Maitland is approximately 2,100 meters east of the Richmond Hill Gold Project, which also contains Tertiary mineralization.

About Dakota Gold Corp.

Dakota Gold (NYSE American: DC) is a South Dakota-based responsible gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold has high-caliber gold mineral properties covering over 48 thousand acres surrounding the historic Homestake Mine.

The Dakota Gold team is focused on new gold discoveries and opportunities that build on the legacy of the Homestake District and its 145 years of gold mining history.

Subscribe to Dakota Gold’s e-mail list at www.dakotagoldcorp.com to receive the latest news and other Company updates.

Shareholder and Investor Inquiries

For more information, please contact:
Jonathan Awde, President and Chief Executive Officer|
Tel: +1 604-761-5251

Qualified Person and S-K 1300 Disclosure

James M. Berry, a Registered Member of SME and Vice President of Exploration of Dakota Gold Corp., is the Company’s designated qualified person for this news release as defined in Subpart 1300 - Disclosure by Registrants Engaged in Mining Operations of Regulation S-K and has reviewed and approved its scientific and technical content.

The ranges of potential tonnage and grade (or quality) disclosed above in respect of the Maitland Gold Project are conceptual in nature and could change as the proposed exploration activities are completed. There has been insufficient exploration of the Maitland Gold Project to allow for an estimate of a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource. The disclosure above in respect of the Maitland Gold Project therefore does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve.

Quality Assurance/Quality Control consists of regular insertion of certified reference materials, duplicate samples, and blanks into the sample stream. Samples are submitted to the ALS Geochemistry sample preparation facility in Winnipeg, Manitoba. Gold and multi-element analyses are performed at the ALS Geochemistry laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab. Check samples are submitted to Bureau Veritas, Vancouver B.C. as an umpire laboratory. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company database.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words “plan,” “target,” "anticipate," "believe," "estimate," "intend,” “potential,” “will” and "expect" and similar expressions are intended to identify such forward-looking statements. Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation: our expectations regarding future drilling and our expectations regarding the development potential of Maitland. These forward-looking statements are based on assumptions and expectations that may not be realized and are inherently subject to numerous risks and uncertainties, which could cause actual results to differ materially from these statements. These risks and uncertainties include, among others: the execution and timing of our planned exploration activities; our use and evaluation of historic data; our ability to achieve our strategic goals; the state of the economy and financial markets generally and the effect on our industry; and the market for our common stock. The foregoing list is not exhaustive. For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the risk factors included in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by annual, quarterly and current reports that we file with the SEC, which are available at www.sec.gov. We caution investors not to place undue reliance on the forward-looking statements contained in this communication. These statements speak only as of the date of this communication, and we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise, except as may be required by law. We do not give any assurance that we will achieve our expectations.

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