Dakota Gold Intersects 5 g/t Gold over 24.9 Meters at Richmond Hill and Provides Silver Assay Update

Rhea-AI Summary

Dakota Gold (NYSE American: DC) reported 2025 drill results at the Richmond Hill oxide heap‑leach project and a silver assay update on February 5, 2026. Key intersections include 5.00 g/t Au over 24.9 m (RH25C‑310) and 2.46 g/t Au over 32.7 m (RH25C‑348).

The Project hosts reported resources of 3.65 Moz M&I gold, 2.61 Moz inferred gold, 38.1 Moz M&I silver, and 22.8 Moz inferred silver; results will feed a Pre‑Feasibility Study due H2 2026.

Positive

• High‑grade intercept RH25C‑310: 5.00 g/t Au over 24.9 m
• Large silver resource: 38.1 Moz M&I complements gold output
• Drill expansion: 2026 campaign started with 15,481 m in 109 holes
• Pre‑Feasibility Study scheduled for H2 2026 to support reserve reporting

Negative

• Average mined grade in prior mine plan is low: 0.566 g/t Au, implying scale dependence
• True thickness unknown for reported intervals, adding geological uncertainty
• 37 assays from 2025 remain pending, delaying full dataset integration

News Market Reaction

-6.54%

3 alerts

-6.54% News Effect

-6.5% Trough Tracked

-$50M Valuation Impact

$710M Market Cap

0.6x Rel. Volume

On the day this news was published, DC declined 6.54%, reflecting a notable negative market reaction. Argus tracked a trough of -6.5% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $50M from the company's valuation, bringing the market cap to $710M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Gold resource M&I: 3.65 million oz Gold resource inferred: 2.61 million oz Silver resource M&I: 38.1 million oz +5 more

8 metrics

Gold resource M&I 3.65 million oz Richmond Hill S-K 1300 Initial Assessment (Measured & Indicated gold)

Gold resource inferred 2.61 million oz Richmond Hill S-K 1300 Initial Assessment (inferred gold)

Silver resource M&I 38.1 million oz Richmond Hill S-K 1300 Initial Assessment (Measured & Indicated silver)

Silver resource inferred 22.8 million oz Richmond Hill S-K 1300 Initial Assessment (inferred silver)

Headline intercept 5.00 g/t Au over 24.9 m Hole RH25C-310 expansion drilling at Richmond Hill

High-grade sub-interval 60.82 g/t Au over 1.5 m Within RH25C-310 at Richmond Hill

Silver production (M&I plan) 8.7 million oz over 17 years Silver output in measured & indicated mine plan (IACF, Jul 7, 2025)

Silver production (MI&I plan) 12.9 million oz over 28 years Silver output in measured, indicated & inferred mine plan (IACF)

Market Reality Check

Price: $5.84 Vol: Volume 1,249,202 is below...

normal vol

$5.84 Last Close

Volume Volume 1,249,202 is below the 20-day average of 1,660,553 (relative volume 0.75) ahead of this update. normal

Technical Shares at $6.27 are trading above the 200-day MA of $4.39 and sit 13.52% below the 52-week high of $7.25.

Peers on Argus

DC was down 1.57% pre-news while several gold peers also traded lower (e.g., NFG...

DC was down 1.57% pre-news while several gold peers also traded lower (e.g., NFGC -2.68%, GAU -4.59%, CMCL -6.43%, GROY -4.61%), with ODV a notable gainer at +2.78%. No peers appeared in the momentum scanner.

Historical Context

5 past events · Latest: Jan 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	2026 drill plans	Positive	-1.4%	Outlined 2026 Richmond Hill and Maitland drill programs supporting PFS and maiden resource.
Dec 23	Expansion drilling	Positive	+0.5%	Reported Richmond Hill expansion holes extending mineralization and high-grade intercepts.
Dec 18	Metallurgy update	Positive	+1.9%	Provided FS metallurgical plan, column test results, and NPV sensitivity context.
Dec 1	High-grade step-out	Positive	-1.3%	Announced high-grade surface intercepts and a 150 m step-out north of resource.
Nov 19	Expansion drilling	Positive	+2.5%	Released high-grade expansion and metallurgical drill results at Richmond Hill.

Pattern Detected

Recent Richmond Hill updates have generally been positive operationally, with three prior news events seeing share price gains and two showing modest declines within 24 hours, indicating mixed short-term trading responses.

Recent Company History

Over the past few months, Dakota Gold has repeatedly advanced the Richmond Hill oxide heap leach project through drilling, metallurgy, and study work. News on Nov 19, 2025 and Dec 1, 2025 highlighted high-grade expansion drilling and open mineralization. Subsequent updates on Dec 18, 2025 detailed metallurgical testing and Feasibility Study planning, while Dec 23, 2025 and Jan 13, 2026 emphasized additional high-grade intercepts and 2026 drill plans to support a PFS in H2 2026. Today’s release continues that Richmond Hill drill and resource narrative.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-07-24

The company has an active Form S-3 shelf registration dated Jul 24, 2025, with at least one usage recorded via a 424B5 on Nov 13, 2025. An at-the-market equity program of up to $50,000,000 was established under this framework, allowing share sales at the company’s discretion, which can introduce potential dilution depending on future usage.

Market Pulse Summary

The stock moved -6.5% in the session following this news. A negative reaction despite strong drill g...

Analysis

The stock moved -6.5% in the session following this news. A negative reaction despite strong drill grades and substantial resources would fit prior instances where positive Richmond Hill news was followed by short-term declines, such as the moves after Jan 13, 2026 and Dec 1, 2025. Investors may have focused on broader sector weakness or on existing equity issuance flexibility under the Form S-3 shelf and $50,000,000 at-the-market program. Past patterns show that one-day trading often diverged from the underlying operational progress described in these releases.

Key Terms

oxide heap leach, pre-feasibility study, measured and indicated, inferred, +3 more

7 terms

oxide heap leach technical

"additional drill results from the Richmond Hill Oxide Heap Leach Gold Project"

Oxide heap leach is a low-cost mining method that extracts metals (commonly gold, silver or copper) from oxidized, near-surface rock by piling crushed ore into a heap and percolating a liquid that dissolves the metal for collection — like steeping metal out of rock the way tea is brewed. It matters to investors because heap leach projects can be built and started faster and cheaper than mills or underground mines, so they can generate earlier cash flow, but recovery rates, environmental controls and permitting risk can materially affect revenue and valuation.

pre-feasibility study technical

"will be incorporated into a Pre-Feasibility Study being published in the second half"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

measured and indicated technical

"including 3.65 million ounces ("oz") of measured and indicated ("M&I") gold"

Measured and indicated are two levels of confidence used to describe the size and quality of a mineral deposit: "measured" means the quantities and grade are well tested and closely known, while "indicated" means they are reasonably estimated but with more uncertainty. Investors use these categories to judge how reliably a resource can be converted into reserves and future cash flow—think of measured like a weighed recipe and indicated like a good estimate based on past batches.

inferred technical

"and 2.61 million oz of inferred gold, as well as 38.1 million oz"

Inferred means a conclusion or piece of information drawn from available clues rather than directly observed or confirmed. For investors, an inference is like reading a weather forecast from cloud patterns: it helps form expectations about a company’s performance or risks when hard data is missing, but it carries uncertainty and should be weighed alongside verified facts.

critical minerals list regulatory

"addition to the Department of the Interior, U.S. Geological Survey Critical Minerals list"

A critical minerals list is an official roster of metals and minerals a government or regulator deems essential for the economy and national security because they are scarce, hard to replace, or produced in few places. Investors treat the list like a shopper’s guide: materials on it often get policy support such as faster approvals, subsidies, or stockpiling, which can raise demand, lift prices, and change the value and risk profile of mining and manufacturing projects.

initial assessment technical

"outlined in the S-K 1300 Initial Assessment published on February 6, 2025"

An initial assessment is a short, early review that identifies the main facts, risks and likely next steps about a business matter, product, clinical result or regulatory filing. It matters to investors because it sets first expectations—like a quick health check that signals whether deeper investigation, a change in valuation, or an urgent response is needed—and can influence short‑term market reactions and planning.

mine plan technical

"The IACF outlined 8.7 million ounces of silver production over the 17-year measured and indicated ("M&I") mine plan"

A mine plan is the detailed blueprint for developing and operating a mineral deposit over time, showing where to dig, how much will be produced, the equipment and methods to be used, and how waste and environmental controls will be handled. It matters to investors because it turns a raw resource into a predictable schedule of costs, production and permit requirements—like a business plan or house blueprint that reveals when money will be spent, when revenue can start, and what risks remain.

AI-generated analysis. Not financial advice.

Lead, South Dakota--(Newsfile Corp. - February 5, 2026) - Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") is pleased to report additional drill results from the Richmond Hill Oxide Heap Leach Gold Project ("Richmond Hill" or the "Project") and provide silver assay results received to date from the 2025 drill campaign. Richmond Hill hosts a large resource including 3.65 million ounces ("oz") of measured and indicated ("M&I") gold and 2.61 million oz of inferred gold, as well as 38.1 million oz of M&I silver and 22.8 million oz of inferred silver outlined in the S-K 1300 Initial Assessment published on February 6, 2025. Gold and silver assay results from the 2025 and 2026 drill campaigns at Richmond Hill will be incorporated into a Pre-Feasibility Study being published in the second half of 2026.

Highlights from this update include:

• Expansion drill hole RH25C-310 intersected 5.00 grams per tonne gold (g/t Au) and 28.64 g/t silver (Ag) over 24.9 meters (124 gram meters Au), including 60.82 g/t Au and 61.68 g/t Ag over 1.5 meters (89 gram meters Au) and RH25C-348 intersected 2.46 g/t Au and 19.16 g/t Ag over 32.7 meters (81 gram meters Au). RH25C-310 is a 194 meter (635 feet) north step-out and RH25C-348 is a 87 meter (285 feet) northwest step-out from the current measured and indicated resource boundary. The mineralization in the northeast is only limited by drilling and remains open in all directions. The 2025 northeast expansion drill program covered an area of 300 meters (980 ft) north - south and 535 meters (1,750 ft) east - west.

• Infill drill hole RH25C-328 intersected 2.49 g/t Au and 16.63 g/t Ag over 26.9 meters (67 gram meters Au), including 18.60 g/t Au and 41.20 g/t Ag over 1.8 meters (34 gram meters Au). Many higher-grade gold mineralization intersections encountered in the 2025 campaign including infill hole RH25C-328 exceed the average grade of 0.566 g/t Au published in the July 7, 2025, Initial Assessment with Cash Flow ("IACF") measured and indicated mine plan.

• Richmond Hill's heap leach gold resource is complimented by a large silver resource. Many high-grade silver assay results are shown in Table 2 from the 2025 drill campaign including:
  • RH25C-164 intersected 1.94 g/t Au and 34.88 g/t Ag over 60.0 meters
  • RH25C-169 intersected 2.78 g/t Au and 42.07 g/t Ag over 39.3 meters
  • RH25C-209 intersected 1.40 g/t Au and 34.82 g/t Ag over 73.5 meters
  • RH25C-166 intersected 2.25 g/t Au and 27.91 g/t Ag over 44.3 meters
  • RH25C-236 intersected 8.17 g/t Au and 11.02 g/t Ag over 11.3 meters
  • RH25C-171 intersected 1.50 g/t Au and 24.08 g/t Ag over 62.1 meters
  • RH25C-215 intersected 1.72 g/t Au and 34.75 g/t Ag over 42.7 meters

Jack Henris, President and COO of Dakota Gold said, "I am pleased with the results received to date from the 2025 drill campaign at Richmond Hill which included 242 drill holes. Assays from 37 drill holes are pending release including many from northeast expansion drilling, which will be reported as they are received in the next few weeks. The Company has now begun its 2026 drill campaign at Richmond Hill including 15,481 meters of drilling in 109 holes to follow up on the success from 2025. Two drills are in operation and we expect to complete the 2026 campaign in the third quarter of this year." Shawn Campbell, Chief Financial Officer added, "We are pleased to be advancing a project that in addition to gold, hosts a considerable amount of silver. Silver was recently designated as a Critical Mineral in the United States, and the Richmond Hill project has the potential to support domestic supply and contribute to the nation's long-term mineral security. We look forward to incorporating the gold and silver results into the Pre-Feasibility Study. This work will enable the Company to report reserves in 2026, further de-risking the Project as it advances along its path to expected production in 2029."

Figure 1. Plan Map showing location of Dakota Gold Corp. Richmond Hill 2025 Drill Campaign drill results reported today in Table 1.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8218/282757_006e75aca475abc0_002full.jpg

Table 1. Richmond Hill Drill Results (Metric / Imperial)^1,2,3,4,5

Hole #	From (m)	To (m)	Interval (m)	Grade Au (g/t)	g x m Au	Grade Ag (g/t)	g x m Ag	From (ft)	To (ft)	Interval (ft)	Grade Au (oz/ton)
RH25C-233	2.0	5.5	3.6	0.51	2	1.76	6	6.5	18.2	11.7	0.015
	11.5	24.7	13.2	1.27	17	4.87	64	37.7	80.9	43.2	0.037
	47.0	53.8	6.8	0.64	4	15.02	103	154.2	176.6	22.4	0.019
	79.9	84.5	4.7	2.63	12	11.91	56	262.0	277.3	15.3	0.077
	110.1	116.2	6.2	0.87	5	11.01	68	361.1	381.3	20.2	0.025
RH25C-308	16.2	22.2	5.9	1.04	6	47.83	284	53.3	72.8	19.5	0.03
	34.8	38.7	3.9	0.63	2	5.82	23	114.2	127.1	12.9	0.018
RH25C-310	78.3	103.2	24.9	5.00	124	28.64	712	257.0	338.6	81.6	0.146
inc.	95.1	96.6	1.5	60.82	89	61.68	90	312.0	316.8	4.8	1.774
RH25C-326	37.6	40.8	3.1	1.50	5	1.34	4	123.5	133.8	10.3	0.044
	94.4	105.4	11.0	0.83	9	5.33	59	309.6	345.7	36.1	0.024
	108.8	113.1	4.3	0.74	3	44.61	192	357.0	371.1	14.1	0.021
	126.5	131.3	4.8	3.07	15	107.90	523	414.9	430.8	15.9	0.09
RH25C-327	77.9	93.0	15.1	1.36	20	22.45	338	255.7	305.1	49.4	0.039
RH25C-328	91.9	118.8	26.9	2.49	67	16.63	448	301.6	389.9	88.3	0.073
inc.	96.6	98.4	1.8	18.60	34	41.20	75	316.8	322.8	6.0	0.543
RH25C-329	48.3	84.0	35.7	1.00	36	10.23	365	158.4	275.6	117.2	0.029
RH25C-330	75.3	85.7	10.4	1.03	11	17.86	186	247.0	281.2	34.2	0.03
RH25C-332	62.1	68.0	5.9	0.76	4	68.78	405	203.7	223.0	19.3	0.022
RH25C-333	20.1	28.3	8.1	2.92	24	6.56	53	66.1	92.8	26.7	0.085
	47.1	52.7	5.6	0.83	5	9.30	52	154.5	173.0	18.5	0.024
	69.5	73.6	4.1	1.26	5	45.22	185	228.1	241.5	13.4	0.037
	78.2	83.2	5.0	1.69	8	25.67	128	256.6	272.9	16.3	0.049
RH25C-334	56.4	61.6	5.2	0.63	3	2.30	12	185.0	202.2	17.2	0.018
	70.8	75.5	4.7	0.61	3	63.16	295	232.4	247.7	15.3	0.018
RH25C-335	36.0	46.0	10.1	0.64	6	9.05	91	118.0	151.0	33.0	0.019
	53.3	58.8	5.5	1.73	9	200.96	1105	175.0	193.0	18.0	0.05
RH25C-336	52.7	71.3	18.6	1.15	21	23.18	431	173.0	234.0	61.0	0.034
RH25C-337	109.7	112.8	3.0	0.63	2	2.44	7	360.0	370.0	10.0	0.018
RH25C-339	No Significant Results
RH25C-346	57.2	60.8	3.6	1.08	4	6.31	23	187.7	199.5	11.8	0.032
	71.3	79.1	7.8	0.61	5	22.40	175	234.0	259.6	25.6	0.018
RH25C-348	57.8	90.5	32.7	2.46	81	19.16	627	189.6	297.0	107.4	0.072
RH25C-351	57.1	65.2	8.1	0.68	6	1.87	15	187.3	214.0	26.7	0.02
	71.3	77.9	6.6	0.73	5	26.78	176	234.0	255.5	21.5	0.021
RH25C-352	82.7	94.2	11.5	0.86	10	52.20	601	271.3	309.1	37.8	0.025
RH25C-357	55.2	61.0	5.8	0.91	5	3.85	22	181.0	200.0	19.0	0.027
BG-GW-09A	10.7	25.9	15.2	0.83	13	28.82	439	35.0	85.0	50.0	0.024

 

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"); gram meters ("g x m").
2. True thickness unknown.
3. Intervals calculated based on 0.5 g/t Au cut-off and maximum dilution of 3.05 meters.
4. The July 7, 2025, Initial Assessment with Cash Flow has an open pit designed with 12.2m (40 ft) benches. The average grade for the Measured and Indicated mine plan is 0.566 g/t Au (0.017 oz/ton). A gram meter of 7 and above has been highlighted in Table 1 based on the bench height and average grade.
5. The following monitoring water well hole drilled outside of the resource area for permitting has confirmed no significant gold mineralization: BG-GW-07; BG-GW-03

Silver Assay Results Update

Silver's addition to the Department of the Interior, U.S. Geological Survey Critical Minerals list in November 2025¹ underscores growing federal recognition of its importance to the U.S. economy and national security.  With industrial demand rising rapidly—driven by solar, AI data centers, electric vehicles, and next-generation electronics—domestic supply remains limited. This designation highlights silver as a strategically important metal and reinforces the value of projects like Richmond Hill, which has the potential to contribute to U.S.-based silver production.

On July 7^th, 2025, the Company published an IACF for Richmond Hill using a base case silver price of $29.00/oz. The IACF outlined 8.7 million ounces of silver production over the 17-year measured and indicated (M&I") mine plan, and 12.9 million ounces of silver production over the 28-year measured, indicated and inferred ('MI&I") mine plan. The Company is undertaking a Pre-Feasibility Study for Richmond Hill and silver will be an important complement to our projected gold production. The final silver product at Richmond Hill is anticipated to be in metal bar form, which can be refined within the U.S. Table 2 below lists each of the zones for the initial 5 phases of mining with gold and silver assays for select highlight holes from the 2025 drill campaign. A comprehensive table of results will be provided once all assays have been received from the 2025 drill campaign in the coming weeks.

Table 2. Richmond Hill table of zones for the initial 5 phases of mining with gold and silver assays for select highlight holes from the 2025 drill campaign (Metric / Imperial)^1,2,3

Hole #	From (m)	To (m)	Interval (m)	Grade Au (g/t)	g x m Au	Grade Ag (g/t)	g x m Ag	From (ft)	To (ft)	Interval (ft)	Grade Au (oz/ton)
MW3 Main
RH25C-164	7.1	67.1	60.0	1.94	116	34.88	2093	23.3	220.0	196.7	0.057
RH25C-169	20.1	59.4	39.3	2.78	109	42.07	1652	66.0	194.8	128.8	0.081
RH25C-166	10.5	54.9	44.3	2.25	100	27.91	1236	34.6	180.0	145.4	0.066
RH25C-171	16.5	78.6	62.1	1.50	93	24.08	1496	54.2	258.0	203.8	0.044
RH25C-200	22.8	56.2	33.4	2.25	75	26.19	876	74.7	184.4	109.7	0.065
RH25C-167	17.5	51.8	34.3	2.10	72	28.04	962	57.4	170.0	112.6	0.061
RH25C-170	19.0	59.0	40.1	1.23	49	24.26	973	62.3	193.7	131.4	0.036
MW3 East
RH25C-162	39.6	83.1	43.4	1.85	80	25.39	1102	129.8	272.8	143.0	0.054
RH25C-234	34.3	62.6	28.3	1.88	53	27.92	790	112.5	205.3	92.8	0.055
RH25C-156	40.0	70.2	30.2	1.24	37	16.74	506	131.2	230.3	99.1	0.036
RH25C-160	32.8	61.1	28.3	1.30	37	24.71	699	107.6	200.3	92.7	0.038
Chism Gulch
RH25C-310	78.3	103.2	24.9	5.00	124	28.64	712	257.0	338.6	81.6	0.146
inc.	95.1	96.6	1.5	60.82	89	61.68	90	312.0	316.8	4.8	1.774
RH25C-348	57.8	90.5	32.7	2.46	81	19.16	627	189.6	297.0	107.4	0.072
RH25C-303	101.1	116.3	15.2	4.52	69	15.39	235	331.6	381.6	50.0	0.132
inc.	111.4	113.2	1.8	31.90	57	37.90	68	365.5	371.4	5.9	0.930
RH25C-323	110.3	141.5	31.1	2.19	68	4.27	133	362.0	464.1	102.1	0.064
inc.	134.8	136.3	1.5	17.35	26	13.95	21	442.3	447.2	4.9	0.506
RH25C-328	91.9	118.8	26.9	2.49	67	16.63	448	301.6	389.9	88.3	0.073
inc.	96.6	98.4	1.8	18.60	34	41.20	86	316.8	322.8	6.0	0.543
RH25C-270	30.5	59.7	29.2	2.26	66	18.17	531	100.1	196.0	95.9	0.066
RH25C-295	5.5	35.4	30.0	2.15	65	20.99	630	17.9	116.3	98.4	0.063
RH25C-288	87.7	102.2	14.5	4.15	60	16.61	242	287.7	335.4	47.7	0.121
inc.	92.2	93.5	1.2	29.20	36	48.90	60	302.6	306.6	4.0	0.852
RH25C-319	33.5	81.1	47.6	1.18	56	4.47	213	109.9	266.0	156.1	0.034
RH25C-261	37.0	54.3	17.3	2.87	50	18.41	318	121.4	178.0	56.6	0.084
RH25C-256	36.4	48.9	12.5	3.76	47	26.66	332	119.5	160.4	40.9	0.110
inc.	36.4	38.0	1.6	23.20	37	29.90	47	119.5	124.7	5.2	0.677
RH25C-313	20.0	45.7	25.7	1.74	45	22.89	589	65.6	150.0	84.4	0.051
RH25C-307	102.7	132.9	30.2	1.43	43	17.26	521	337.0	436.0	99.0	0.042
Cole Creek
RH25C-209	14.3	87.5	73.5	1.40	103	34.82	2558	47.0	287.0	241.0	0.041
RH25C-211	16.2	68.5	52.3	1.55	81	16.83	881	53.0	224.7	171.7	0.045
RH25C-204	20.6	83.1	62.5	1.22	76	15.35	959	67.5	272.5	205.0	0.036
RH25C-241	177.3	197.8	20.5	3.72	76	10.88	223	581.8	649.1	67.3	0.109
inc.	191.8	193.2	1.5	28.20	41	43.00	63	629.2	634.0	4.8	0.823
RH25C-215	28.3	71.0	42.7	1.72	74	34.75	1483	93.0	233.0	140.0	0.050
RH25C-207	15.1	48.6	33.5	1.31	44	13.68	459	49.4	159.4	110.0	0.038
RH25C-190	140.7	155.2	14.5	2.96	43	16.34	237	461.5	509.1	47.6	0.086
RH25C-195	108.2	140.3	32.1	1.21	39	21.02	675	355.0	460.4	105.4	0.035
Twin Tunnels
RH25C-236	0.0	11.3	11.3	8.17	93	11.02	125	0.0	37.2	37.2	0.238
RH25C-230	20.3	82.3	62.0	0.67	42	9.37	581	66.6	270.0	203.4	0.020
RH25C-222	27.9	59.1	31.2	0.96	30	8.54	267	91.6	194.0	102.4	0.028

 

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"); gram meters ("g x m").
2. True thickness unknown.
3. Intervals calculated based on 0.5 g/t Au cut-off and maximum dilution of 3.05 meters.

About Dakota Gold Corp.

Dakota Gold is 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 Tertiary maiden resource as well as a high-grade underground gold resource at the Maitland Gold Project, both located on private land in South Dakota.

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Shareholder and Investor Inquiries

For more information, please contact:

Jack Henris
President and COO
Tel: +1 605-717-2540

Shawn Campbell
Chief Financial Officer
Tel: +1 778-655-9638

Carling Gaze
VP of Investor Relations and Corporate Communications
Tel: +1 605-679-7429
Email: info@dakotagoldcorp.com

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 (as defined in Subpart 1300 of Regulation S-K) for this news release and has reviewed and approved its scientific and technical content.

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 communication, 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 communication that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation: our expectations regarding additional drilling, metallurgy and modeling; our expectations for the improvement and growth of the mineral resources and potential for conversion of mineral resources into reserves; completion of a pre-feasibility study, a feasibility study, and/or permitting; our expectations regarding free cash flow and future financing, and our overall expectation for the possibility of near-term production at the Richmond Hill project. 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, 2024, 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.

All references to "$" in this communication are to U.S. dollars unless otherwise stated.

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¹ https://www.usgs.gov/news/science-snippet/interior-department-releases-final-2025-list-critical-minerals

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282757

FAQ

What did Dakota Gold (DC) report for RH25C‑310 on February 5, 2026?

RH25C‑310 returned 5.00 g/t Au over 24.9 meters, including a higher‑grade 1.5 m interval. According to the company, the hole also contained 28.64 g/t Ag over 24.9 m and a 1.5 m subinterval of 60.82 g/t Au.

How much silver does Richmond Hill host and how will Dakota Gold (DC) treat it?

Richmond Hill hosts 38.1 Moz M&I silver and 22.8 Moz inferred silver. According to the company, silver will be an important complement to gold and the final silver product is expected to be produced as a metal bar refined within the U.S.

When will Dakota Gold (DC) incorporate 2025–2026 drill results into the Pre‑Feasibility Study?

The company plans to incorporate 2025 and 2026 drill results into a Pre‑Feasibility Study scheduled for the second half of 2026. According to the company, that study will support reporting of reserves during 2026 and project progression toward 2029 production.

What is the scale of Dakota Gold's 2026 drill program at Richmond Hill (DC)?

The 2026 campaign has begun with 15,481 meters in 109 holes planned. According to the company, two drills are operating and the program is expected to finish in the third quarter of 2026 to follow up 2025 expansion results.

How do 2025 drilling results compare to the July 7, 2025 mine plan average grade for Dakota Gold (DC)?

Several 2025 holes exceeded the mine plan average grade of 0.566 g/t Au. According to the company, many higher‑grade intersections—including RH25C‑328—are above that average and guided selection of gram‑meter highlights for the Initial Assessment with Cash Flow.