Dakota Gold Corp. Announces Further Positive Drilling Results from the Richmond

Lead, South Dakota–(Newsfile Corp. – March 7, 2024) – Dakota Gold Corp. (NYSE American: DC) (“Dakota Gold” or the “Company”) is pleased to report assays from an additional four drill holes, RH23C-020, RH23C-024, RH23C-026 and RH23C-074, from the Richmond Hill Gold Project (“Richmond Hill”) in South Dakota. The drill holes reported today have continued to demonstrate the robust, higher-grade, near-surface oxide mineralization hosted at Richmond Hill. The drill holes expand the mineralization and indicate the opportunity for further exploration of higher grades.

Significant Highlights (See Table 1):

• RH23C-024 and RH23C-026 successfully expanded mineralization and returned numerous intervals with significant grades proving that the Turnaround Breccia is pervasively mineralized. RH23C-024 intersected 0.049 oz/ton Au over 37.7 feet (1.68 grams/tonne over 11.5 meters), and RH23C-026 intersected 0.030 oz/ton Au over 71.1 feet (1.04 grams/tonne over 21.7 meters).

• RH23C-074 was an offset of RH23C-016, a drill hole announced on September 7, 2023, which had a length weighted average of 0.028 oz/ton Au over 1,007 feet (0.95 grams/tonne over 306.9 meters) in the MW3 Main Zone. RH23C-074 confirmed higher grade near surface oxide mineralization intersecting 0.049 oz/ton Au over 199.9 feet (1.68 grams/tonne over 60.9 meters). These drill holes combined with other holes in the MW3 Main Zone area illustrate the presence of higher grade structures with thicker contiguous intervals.

James Berry, Vice President Exploration of Dakota Gold, said, “The mineralization found in RH23C-074 confirms earlier results and, more significantly, shows that high-grade oxide mineralization is present near surface at Richmond Hill. Understanding the orientation of mineralizing feeders and projecting them into prospective geologic areas, such as favorable host rocks, is proving to be an effective tool for targeting our exploration at Richmond Hill. The Precambrian hosted gold mineralization at Richmond Hill is located within and around the breccia pipes. We have additional exploration opportunities at other breccia pipes and yet to be discovered pipes beneath cover. Our focus is now on finishing the initial Richmond Hill S-K 1300 resource estimate early in Q2 2024, but work will begin to expand it using all the great results we’ve reported here and in our last few news releases for the Richmond Hill Gold Project.”

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The results from RH23C-074 will not be included in the current S-K 1300 maiden Richmond Hill resource expected to be released in early Q2 2024, as they were received after the cutoff date for drill data to be used in the calculation. Accordingly, these results have the potential to expand the resource in future estimates. All holes from the 2023 drilling campaign drilled around the historical resource area are now reported.

Table 1. RH23C-020, RH23C-024, RH23C-026 and RH23C-074 Drill Results (Imperial / Metric Units)^1,2

*True Thickness Unknown

1. The table may contain rounding errors.

2. Abbreviations in the table include ounces per ton (“oz/ton”); grams per tonne (“g/t”); feet (“ft”); meter (“m”); Tertiary breccia hosted mineralization (“Bx”); Cambrian Deadwood Fm hosted Tertiary mineralization(“TꞒd”); Tertiary intrusive hosted mineralization (“Tert”); and Precambrian hosted Tertiary mineralization (“TpꞒ”).

 
Figure 1. Plan View of Dakota Gold Corp. Richmond Hill Drill Holes with Highlighted Gold Intercepts.
 
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Figure 2. Cross Section View of Richmond Hill…