Dakota Gold Corp. · AMEX:DC
Dakota Gold — Investor Presentation (January 2026)
31 slides from Dakota Gold's investor presentation, Jan 13, 2026
Slide 1: Revitalizing The Homestake District Of South Dakota
Revitalizing The Homestake District Of South Dakota NYSE American: DC Investors and Analysts Tour Presentation January 2026 dakotagoldcorp.com
Slide 2: Disclaimer
Disclaimer Dakota Gold is focused Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities on responsible Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this commun
Slide 3: Dakota Gold – A unique investment opportunity
Dakota Gold Dakota Gold, NYSE – A unique investment opportunity American: DC is a • Gold prices and demand at record highs during a time of production deficits unique investment • Leadership team with track record success opportunity for exposure to a U.S. • Advancing the Richmond Hill Gold Project,
Slide 4: Securing U.S. domestic supply & production of minerals
Securing U.S. domestic supply & production of minerals • In an Executive Order in March 2025, President Trump designated critical minerals as well as gold as a focus for development in securing U.S. domestic supply and production of the minerals.1 • South Dakota Governor Rhoden visited Dakota Gold
Slide 5: Homestake District: New Opportunities
Richmond Hill Homestake District: New Opportunities Maitland Gold Project Gold Project Legend - Dakota Gold holds over ~48k mineral acres in • Private Land the Homestake District • Over 3,000 mineral acres • Private Land • Development stage Dakota Gold Land Package Richmond Hill – Private Land •
Slide 6: Overview of IACF
OVERVIEW of IACF dakotagoldcorp.com | NYSE-A: DC 6
Slide 7: Richmond Hill – IACF supports simple, open pit, heap leach project
Richmond Hill – IACF supports simple, open pit, heap leach project (US$) M&I plan MI&I plan (US$) M&I plan MI&I plan Key Assumptions LOM AISC (Cash Cost plus $1,047 $1,050 Sustaining Cost) Base Case Gold Price $2,350/oz $2,350/oz Capital Costs Base Case Silver Price $29.00/oz $29.00/oz Initial Capi
Slide 8: Richmond Hill – M&I plan production and cost profile
Richmond Hill - M&I plan production and cost profile M&I plan 153,000 oz/yr GOLD PRODUCTION 2.6 Moz GOLD LOM PRODUCTION (17-year mine life) US$1,047/oz LOM AISC (US$2,350/oz Gold Price) dakotagoldcorp.com | NYSE-A: DC 8
Slide 9: Richmond Hill – Phase 1 & 2 mine plan
Richmond Hill – Water Overburden Storage Area Phase 1 & 2 mine plan Treatment Plant (16MM tons) North • Initial permit to authorize 580 acres of Mined Area net disturbance • Initial mining to start in higher value northeast portion of Project and Merrill Crowe Plant continue to progress south over l
Slide 10: Richmond Hill – Phase 3-5 mine plan
Richmond Hill – Water Overburden Storage Area Phase 3-5 mine plan Leach Pad 3 Treatment Plant (Reclaimed) North (35.6MM tons) Reclaimed Mined Area Leach Pad 2 (44.4MM tons) • Concurrent reclamation with mining to reduce disturbance footprint Storm Event Mined Area Conveyance Spillway • Backfill and
Slide 11: Richmond Hill – 2025 infill/expansion drilling
Richmond Hill RH25C-323 - 31.1m @ 2.19 g/t Au RH25C-319 - 47.6m @ 1.18 g/t Au – 2025 infill/expansion drilling • Drilling completed in December 2025 with final remaining results expected in coming weeks of 2026 for the program. • Plan map with S-K 1300 Initial Assessment resource block model of the
Slide 12: Richmond Hill – 2026 infill/expansion and Feasibility drill plan
Richmond Hill – 2026 infill/expansion and Feasibility drill plan • Total of 15,481 meters (50,790 feet) of drilling in 109 holes Northern Exp • 10-Year Mine Plan OSA o 6,700 meters (22,040 feet) 10-Year Mine Plan o Infill drilling within the 10-Year mine plan to convert inferred to measured and indi
Slide 13: Richmond Hill Feasibility Study
RICHMOND HILL FEASIBILITY STUDY dakotagoldcorp.com | NYSE-A: DC 13
Slide 14: Richmond Hill – Feasibility Study led by M3
Richmond Hill – Feasibility Study led by M3 Lead Study Manager Resource and Environmental/ Metallurgy Heap Leach Mining Plan Permitting Design Environmental sub-contractors supporting permit engineering • LifeCycleGeo • BKS Environmental Assoc. • Vantage Point • Geosyntc • GEI Consultants • ICF • Ai
Slide 15: Richmond Hill – Permitting and Timeline to production
Richmond Hill – Permitting and Timeline to production 2026 2027 2028 2029 2030 Pre-Feasibility Study (PFS) / Feasibility Study (FS) Baseline Data Collection Permitting - County Conditional Use Permit - Mine Permit – SD DANR Notice of Intent Engineering & EPCM Construction 1 Production 1. See news re
Slide 16: Richmond Hill Metallurgy
RICHMOND HILL METALLURGY dakotagoldcorp.com | NYSE-A: DC 16
Slide 17: Richmond Hill - 2026 metallurgical test work
Richmond Hill - 2026 metallurgical test work The metallurgical testing program is in progress and scheduled completion in Q3 2026, with staged testing and reporting milestones throughout. Metallurgical testing scope of work: • Ore Characterization & Preliminary Testing • Column Leach Testing • Commi
Slide 18: Richmond Hill – Metallurgical testing program
Richmond Hill – Metallurgical testing program • Extensive metallurgical drilling was completed in 2025 • The Company expects to ship 4,000 kg of material to Forte Dynamics Lab (the “Lab”) that represent 28 potential geo- metallurgical domains, and complete more than 30 column tests • Approximately 1
Slide 19: Trade-off Studies
TRADE-OFF STUDIES dakotagoldcorp.com | NYSE-A: DC 19
Slide 20: Richmond Hill - Feasibility trade-off studies
Richmond Hill - Feasibility trade-off studies • Mining & Stacking Tonnage Rates o IACF 30,000 tpd vs. 60,000 tpd optimized mining and stacking rate to maximize ounce profile, cash flow, LOM timeline, and overall project financials Conveyor Stack o Crushing and stacking rates will drive sizing and co
Slide 21: Corporate Structure and Permitting
CORPORATE STRUCTURE and PERMITTING dakotagoldcorp.com | NYSE-A: DC 21
Slide 22: County and State Permits
County and State Permits • County – Lawrence County Office of Planning and Zoning o Conditional Use Permit • State – South Dakota Department of Agriculture and Natural Resources (SD DANR) o Determination of Special, Exceptional, Critical, or Unique Lands o Large-Scale Mine Permit(s) o Air Qualit
Slide 23: Local Experience and Competencies
Local Experience and Competencies ~92% of Dakota Gold employees live in South Dakota with 13 South Dakota School of Mines alumni, students or former faculty Jack Henris More than 35 years of experience in the mining industry with both Mark Rantapaa Over 36 years in mining including 26 years with Ba
Slide 24: Maitland Gold Project - High-grade exploration optionality
Maitland Gold Project - High-grade exploration optionality Gold bearing Homestake Formation (red to blue; shallow to deep) Mined out ore bodies (Precambrian Au) Projected to the surface Gold Mineralization in Ledges DC Precambrian Au drill hole intercepts Projected to the surface Maitland Project Ho
Slide 25: Maitland – JB Gold Zone analogous to West Ledge System
Maitland – JB Gold Zone analogous to West Ledge System North South 2.5 m @ 5.25 g/t 6.4 m @ 1.5 m @ 9.46 g/t 8.24 g/t 4.4 m @ 2.0 m @ 25.03 g/t 4.70 g/t 5.5 m @ 3.84 g/t 3.2 m @ 300 10.01 g/t meters 6.4 m @ 4.77 g/t 5.0 m @ 19.54 g/t 21 Ledge 2.5 M oz Au 600 Meters Long Section View Homestake Mine 2
Slide 26: Maitland – Unionville Zone Long Section
Maitland – Unionville Zone Long Section MAITLAND – UNIONVILLE ZONE LONG SECTION VIEW LOOKING EAST A Untested Area Untested Area A’ • Modeled mineralization zone A with drillhole pierce points A’1500 m EL and grade-thickness contours Grade – Thickness Grams gold X meters 1000 m EL 3500 m N 5000 m N 4
Slide 27: Maitland – Unionville 2026 maiden resource infill drill plan
Maitland – Unionville 2026 maiden resource infill drill plan • 5,578 meters (18,300 feet) infill drill campaign in 44 holes Long Section (A-A’) A Target Extension Surface Rock Chip Samples • Maiden resource year end 2026 • Extensive zone of continuous Tertiary epithermal gold mineralization • Open i
Slide 28: Richmond Hill – Low-sulfidation gold system opportunity
Richmond Hill – Low-sulfidation gold system opportunity • Underlying the Richmond Hill near surface oxide resource is extensive sulfide mineralization in the southern area of the property. • Cross Section through central part of the Richmond Hill resource showing distribution of grades, oxide/sulfid
Slide 29: Dakota Gold NYSE American: DC
12 Month Dakota Gold +178% Dakota Gold Senior Management & Board Own ~11% Performance As of Jan 12, Spot Gold +70% GDXJ +173% NYSE American: DC Alignment with Shareholders 2026 S&P 500 +19% Robert Quartermain, 6.9% CAPITAL STRUCTURE (in millions) - Co-Chair, Director and CEO (Sep 30, 2025) Shares O
Slide 30: Significant Gold Optionality for Shareholders / 2026 Catalysts
Significant Gold Optionality 2026 Catalysts for Shareholders Richmond Hill – Advancing • Richmond Hill - S-K 1300 resource Feasibility and Permitting outlining 3.65 Moz of heap leachable • Pre-Feasibility Study H2 2026 M&I resources with robust Initial • Preliminary and final metallurgical Assessmen
Slide 31: NYSE American: DC
MEDIA AND INVESTOR RELATIONS Jack Henris President and COO O +1 605 717 2540 Shawn Campbell Chief Financial Officer info@dakotagoldcorp.com O +1 778 655 9638 Carling Gaze @dakotagoldcorp VP of Investor Relations and Corporate Communications O +1 605 679 7429 linkedin.com/company/dakotagold/ E info@d