Dakota Gold Corp. · AMEX:DC
Dakota Gold — Investor Presentation (August 2025)
29 slides from Dakota Gold's investor presentation, Aug 18, 2025
Slide 1: Revitalizing The Homestake District Of South Dakota
Revitalizing The Homestake District Of South Dakota NYSE American: DC Investor Presentation | August 2025 dakotagoldcorp.com
Slide 2: Disclaimer
Disclaimer Dakota Gold is a Forward-Looking Statements South Dakota-based, 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 communi
Slide 3: Dakota Gold – A unique investment opportunity
Dakota Gold – A unique investment opportunity Dakota Gold, NYSE American: DC is a unique investment Advancing opportunity for Richmond Hill –heap Two discoveries at Maitland along strike Leadership team with leach gold project with track record success exposure to a U.S. robust IACF to from +40m Oz
Slide 4: U.S. Gold production vs consumption
U.S. Gold production vs consumption Historical U.S. Annual Gold Production (tons) 2 • U.S. Annual Gold Production 2024: ~160 tonnes 1 YEARS TONS • U.S. Annual Gold Consumer Demand 2024: 209 tonnes 1 1998 366 (Consumer demand: sum of jewelry, bar and coin demand. Does not include technology or invest
Slide 5: Homestake District: New Opportunities
Richmond Hill Homestake District: New Opportunities Maitland Gold Project Gold Project • Private Land Legend - Homestake District and Key Projects • Over 3,000 mineral acres • Private Land • Development stage Dakota Gold Land Package Richmond Hill – Private Land • 2,364 mineral acres Homestake
Slide 6: 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 Unit Operating Costs Base Case Gold Price $2,350/oz $2,350/oz Total Operating Costs $764 $820 Base Case Silver Price $29.00/oz $29.00/oz Total Cash Costs $857 $912 Pr
Slide 7: 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 7
Slide 8: Richmond Hill - MI&I plan production and cost profile
Richmond Hill - MI&I plan production and cost profile MI&I plan 142,000 oz/yr GOLD PRODUCTION 3.98 Moz GOLD LOM PRODUCTION (28-year mine life) US$1,050/oz LOM AISC (US$2,350/oz Gold Price) dakotagoldcorp.com | NYSE-A: DC 8
Slide 9: Richmond Hill – Phase 1 & 2 mine plan
Richmond Hill – Water Overburden Storage Area Phase 1 & 2 mine plan Treatment Plant (16MM tons) North • Initial permit to authorize 580 acres of Mined Area net disturbance • Initial mining to start in higher value northeast portion of Project and Merrill Crowe Plant continue to progress south over l
Slide 10: Richmond Hill – Phase 3-5 mine plan
Richmond Hill – Water Overburden Storage Area Phase 3-5 mine plan Leach Pad 3 Treatment Plant (Reclaimed) North (35.6MM tons) Reclaimed Mined Area Leach Pad 2 (44.4MM tons) • Concurrent reclamation with mining to reduce disturbance footprint Storm Event • Backfill and shared to fulfill final Mined A
Slide 11: Richmond Hill – Conceptual closure plan
Richmond Hill – Water Overburden Storage Area Conceptual closure plan Leach Pad 3 Treatment Plant (Reclaimed) North (Reclaimed) Reclaimed Mined Area Leach Pad 2 (Reclaimed) • Backfill and shaped to fulfill final designed and approved topography Reclaimed • Area revegetated to final presented and Min
Slide 12: Richmond Hill - IACF M&I plan capital & operating costs details
Richmond Hill - IACF M&I plan capital & operating costs details Capital Cost Items (US$M) Initial Sustaining LOM LOM US$/tonn Operating Cost Items US$/oz Au (US$M) e leached Ore Preparation $83.5 $0 $83.5 Mining $887.4 $5.27 $341 (Crush, Agglomerate, Stack) Heap Leach Pad & Ponds $23.3 $80.7 $104.0
Slide 13: Richmond Hill - CN assay to fire assay ratio
Richmond Hill - CN assay to fire assay ratio • Metallurgical testwork indicates strong recoveries, amenability to heap leach processing with average gold recovery of 85% used in IACF Metallurgical Recovery Estimates Material Type Oxide Heap Leach Transition Heap Leach Process North Gold 89% 65% Silv
Slide 14: Richmond Hill - Location and infrastructure
Richmond Hill - Location and infrastructure Location: • Project 15-minute drive from headquarters in Lead Labor: • South Dakota provides access to labor for exploration through to production Maitland Infrastructure: • Project has an existing powerline and road connected to grid Proposed Powerline Ex
Slide 15: Richmond Hill - Timeline to production
Richmond Hill - Timeline to production 2025 2026 2027 2028 2029 2030 S-K 1300 Feasibility Study (FS) IA with Cash Flow Dakota Gold has a non-binding proposal from Orion Mine Finance for up to $300 million of financing support for the purposes of Baseline Data Collection Permitting - County Condition
Slide 16: Richmond Hill – Heap leachable resource review
Richmond Hill – Heap leachable resource review A’ Maitland S-K 1300 Mineral Resource announced in February 2025 A • Heap Leachable Mineral Resource: • 3.65 M oz of M&I at 0.463 g/t Gold • 2.61 M oz of Inferred at 0.353 g/t Gold Richmond Hill 3 km north of • 38.1 M oz of M&I at 4.83 g/t Silver Wharf
Slide 17: Richmond Hill - Potential step-out & infill areas
Plan View Richmond Hill - Potential step-out & infill areas • Mineralization is very shallow with portions of the resource exposed at surface. • The heap leachable resource remains open to the north and in the southeast area of Richmond Hill. Heap Leach Resource • 2025 planned drill program ~80,000
Slide 18: Richmond Hill - Initial results from 2025 drilling campaign
Richmond Hill - Initial results from 2025 drilling campaign Plan View • 19 drill hole assay results received to date located in the north project area • Metallurgical / infill drill holes • Grades/Widths consistent with previous drilling and inline with expectations dakotagoldcorp.com NYSE-A: DC dak
Slide 19: Maitland Gold Project – JB Gold / Unionville Zones
Maitland Gold Project Unionville Zone – JB Gold / Unionville Zones • Since commencing exploration in 2022, Dakota Gold has completed 73 drill holes totaling 63,448 meters at Maitland. In 2024, 35 drill holes were Property boundary between Maitland and Homestake completed including 14 daughter holes
Slide 20: Maitland Gold Project - High-grade exploration optionality
Maitland Gold Project - High-grade exploration optionality West Ledge System - Approx. 6,000 Drill Holes underground - Avg grade of 11.63 g/t Au and width of 6.1 m - 6 million oz gold produced JB Gold Zone - Approx. 47 Drill Holes from surface - Avg grade of 10.76 g/t Au and width of 4.0 m dakotagol
Slide 21: Maitland Gold Project
Maitland Gold LEGEND Showing select intercepts at Maitland Project Homestake Mineralization 34 Ledge 35 Ledge 36 Ledge “The opportunity we see at 37 Ledge Maitland is unique in that we Homestake Intersections have the possibility to access two 10.76 g/t Au / 4.0 m average distinct types of mineraliz
Slide 22: 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 with drillhole pierce points A 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 23: Dakota Gold is a Responsible Miner – Sustainability Highlights 2024
“Dakota Gold is committed Dakota Gold is a Responsible Miner – to sustainable development as a core value, as further Sustainability Highlights 2024 articulated in our Dr. Stephen O’Rourke Environmental and Co-Chair Community Relations HEALTH AND SAFETY and Director Policies.” • Achieved 4 YEARS wit
Slide 24: Dakota Gold NYSE American: DC
Dakota Gold +81.4% Dakota Gold Senior Management & Board Year To Date Own ~11% Performance Spot Gold +27.2% As of GDXJ +72.7% NYSE American: DC Alignment with Shareholders Aug 15, 2025 S&P 500 +9.7% Orion Mine Finance, 8.7% Robert Quartermain, 6.9% CAPITAL STRUCTURE - Co-Chair, Director and CEO (in
Slide 25: Industry Leading Project Financial Metrics
Industry Leading Project Financial Metrics M&I plan MI&I plan Net Present Value discounted at 5% to Initial Capital Cost Ratio NPV5% @ 2,350/oz Gold Price $1,622 M $2,113 M Initial Capital Cost $384 M $383 M Ratio of NPV5%: CAPEX 4.2 X 5.5 X Number of Times Initial Capex is repaid over the life of
Slide 26: Richmond Hill - Ready to become one of the next independent US gold mines
Richmond Hill - Ready to become one of the next independent US gold mines, in a market with limited assets 2025E 100 kozpa as EV (US$M) EV Company Prod'n % of per (US$M) Independent Gold Projects (AuEq koz) production 100kozpa Alamos Gold $11,392 588 17% $1,939 Being Advanced in America (Estimated p
Slide 27: Directors and Management
Directors and Management ~92% of Dakota Gold employees live in South Dakota with 13 South Dakota School of Mines alumni, students or former faculty Robert Past Executive Chairman of Pretium Resources Inc. and CEO of Todd Kenner More than 40 years experience in engineering design and business BOARD O
Slide 28: 2025 Transformational Year Leading to the Next Era of the Homestake Gold District
2025 Transformational Year Leading to the Next Era of the Homestake Gold District CATALYSTS: Announced Heap Leachable Oxide Gold Resource of 3.65 Moz of M&I resources at Richmond Hill in Q1 2025 Announced close of $35 Million financing in March 2025 Announced robust Richmond Hill Initial Asses
Slide 29: 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