Lead, South Dakota – (Newsfile Corp. – September 9, 2022) – Dakota Gold Corp. (NYSE American: DC) (“Dakota Gold” or the “Company”) is pleased to announce that it has amended its binding option agreement with Lac Minerals (USA) LLC (“LAC”) and Homestake Mining Company of California (” HMCC” or “Homestake”), both wholly owned subsidiaries of Barrick Gold Corporation (“Barrick”), on the Richmond Hill property in the Homestake District, South Dakota (“Richmond Hill”).

Highlights include:

• An 18-month extension of the option’s original 3-year term, pushing the option’s exercise date to March 7, 2026.
  
• Inclusion of an additional 600 acres of 100% mineral rights held by Homestake within and surrounding the Wharf Mine property.
  
• Five core holes totaling 12,204 feet (3,698 meters) were drilled at Richmond Hill. Samples are pending.
  
• The company is in the process of: a fourth drill rig with potential placement at Richmond Hill in the future.

The amended option agreement extends the option period by an additional 18 months and provides the Company with additional choices in its exploration at Richmond Hill.

The inclusion of the additional 600 acres of mineral rights is consistent with the Company’s continued consolidation in the Homestake district. In addition, the addition of these acres provides the Company with access to potential drill targets identified at the Company’s West Corridor project, particularly those identified south of the Richmond Hill area.

As part of the agreement, the company will issue an additional 180,000 shares to Barrick. Other terms and obligations within the original option agreement remain unchanged.

Jonathon Awde, President, CEO and Director of Dakota Gold, stated, “We are very pleased that Barrick continues to work with us to advance our broader Homestake District strategy. We look forward to their continued support and collaboration in our success.”

Figure 1. Map of the Richmond Hill Option Agreement…