Dakota Gold Continues to Advance Richmond Hill with 2025 Drill Campaign and Metallurgical Test Program

Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") is pleased to provide an update on its 2025 drill campaign including progress on metallurgical testwork for the Richmond Hill Oxide Heap Leach Gold Project ("Richmond Hill" or the "Project"). Dakota Gold currently has three drills operating at Richmond Hill and the Company expects to drill 27,500 meters (~90,000 feet) for the 2025 campaign using a combination of Reverse Circulation and Core drilling.

Highlights from this update include:

• Metallurgical drill holes intercept higher gold grade than the average resource grade including drill hole RH25C-171 with 1.50 grams per tonne gold (g/t Au) over 62.1 meters (93 gram meters). RH25C-171 is one of many metallurgical drill holes reported from the north central Project area (Figure 1) that intercepted significantly higher-grade than the average measured and indicated resource grade of 0.463 g/t Au (0.0135 ounces per ton Au).

• The Company is now active with two Core drills in the northeast Project area where we expect assay results from expansion and infill of higher-grade zones before the end of the year. Figure 2 and 3 illustrate the target area where previously reported drill hole RH24C-142 intercepted 2.22 g/t Au over 50.0 meters. The proposed infill and expansion drilling surrounding the intercept has the potential to add to the Measured, Indicated and Inferred resources based on prior drilling and current resources in the area. The mineralization in the northeast, including the Chism Gulch area is only limited by drilling and remains open. The area is expected to be mined at the beginning of the mine plan as outlined in the July 7, 2025 Initial Assessment with Cash Flow.

• Acceleration of metallurgical testwork to refine phase two metallurgical program and strengthening of in-house capabilities. An initial two composite samples totaling 1,500 pounds for the purpose of conducting column testing of material from the initial phases of mining at the north end of the Project area have been sent to Forte Dynamics. The test results are expected before year-end and will inform the follow-up metallurgical drilling and testwork for 2026, that will then inform our Feasibility Study in progress. The Company also welcomes Mike Eiselein as Vice President Project Development to the Dakota Gold team to oversee the metallurgical program. Mr. Eiselein has extensive operational experience applicable to our Richmond Hill Gold Project.

"We are pleased with the progress of the 2025 drill campaign and look forward to releasing additional results from the drilling in the northeast Project area as they are received," said Jack Henris, President and COO of Dakota Gold. "Dakota Gold remains focused on advancing the Project through disciplined exploration and technical rigor with the results from the current drill campaign contributing to the Feasibility Study, which is expected to be completed in early 2027."

Dakota Gold is conducting Core drilling at the northern portion of the Project area for the purposes of completing a Feasibility Study. The Core drilling is designed to collect metallurgical samples for column testing, condemnation drilling beneath proposed site infrastructure for mine planning, infill drilling to upgrade the existing resource, and expansion drilling where the resource remains open. The drill core from all holes is systematically assayed for gold due to the significant halo of low-grade gold mineralization underlying much of the Project area. In addition, the Company is also active with a Reverse Circulation drill to install monitor wells in support of environmental baseline data collection for permitting.

The group of assay results reported today in Figure 1 are primarily from metallurgical and condemnation drilling in the north central Project area. The drill results will refine the modelled oxide and sulfide boundaries and improve the precision of the geo-metallurgical model for the Feasibility and mine planning. In addition, the holes were designed to acquire samples for metallurgical tests ranging from low to high grade, various rock types and oxidation states so that composites can be made for heap leach column tests.

The condemnation drill holes under historical leach pads show potential for pit expansion and conversion of waste to mineralized material. Drill hole RH25C-183 intersected 1.82 g/t Au over 10.8 meters outside of the Measured and Indicated Initial Assessment with Cash Flow mine plan announced on July 7, 2025. Follow-up drilling in 2026 is planned and has the potential to add material to the mine plan.

Metallurgical testwork update:

Metallurgical drilling at the Project for 2025 is near completion, and the Company is preparing for the next phase of studies. To support this effort, the Company has appointed Mike Eiselein as Vice President Project Development to oversee the metallurgical program.

Mike Eiselein joined the Company on August 18, 2025 and brings over 34 years' experience in process operations, engineering, design, and maintenance across a broad-spectrum of operations ranging from refractory and double refractory gold processing, oxide heap leach, base metals flotation, and industrial minerals. Prior to joining the Company, Mr. Eiselein held senior operations positions with many established mining companies such as Barrick Gold Corporation, Newmont Mining Corporation, McEwen Mining Inc., Teck Cominco, and Bunker Hill Mining. Mr. Eiselein holds a BSc in Metallurgical Engineering/Mineral Processing from Montana College of Mineral Science and Technology.

The metallurgical testwork cadence will focus on finalizing geo-metallurgical domains and performing trade-off studies to establish processing optimization to minimize capital and operating expenditures, while maximizing recoveries and cash flow in the Feasibility Study.

• Finalize geo-metallurgical domains (Q3 2025)

• Sample preparation and shipment (Q3 / Q4 2025)

• Metallurgical sample preparation for testing (Q4 2025)

• Material testing and column tests (Q4 2025 / Q2 2026)

• Final test report (Q2 2026)

Figure 1. Plan Map of Dakota Gold Corp. Richmond Hill 2025 Drill Campaign Highlighted Drill Results in North Central Project Area

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Figure 2. Plan Map of Dakota Gold Corp. Richmond Hill 2025 Drill Campaign in Northeast Expansion and Infill Project Area

Plan map showing the S-K 1300 Initial Assessment resource block model of the 5,600, 5,500, 5,400 and 5,300 bench levels in the northeast Project area including the Chism Gulch area projected to the surface with select historical drill hole information that informed the block model, and the location of current and future drill holes designed for the metallurgical, infill and step-out drilling to define and expand a future resource estimation.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8218/265613_6084aadea4c269bb_003full.jpg

Figure 3. Cross Section of Dakota Gold Corp. Richmond Hill 2025 Drill Campaign in Northeast Expansion and Infill Project Area

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

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"); and 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 the Table 1 based on the bench height and average grade.

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 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

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 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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