Slide 1: Revitalizing The Homestake District Of South Dakota
Revitalizing The Homestake District Of South Dakota NYSE American: DC Virtual Analyst Tour Presentation August 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 is a responsible operator
Dakota Gold is a responsible operator HEALTH AND SAFETY • Achieved 5 YEARS with ZERO Lost Time Incidents (2021 to 2025) ENVIRONMENT • ZERO Notice of Environmental Violations since commencing drill programs in 2022 COMMUNITY • More than $100 Million has been Invested in South Dakota from 2019 to 2024
Slide 4: Dakota Gold – A unique investment opportunity
Dakota Gold Dakota Gold, NYSE – A unique investment opportunity American: DC is a • Gold and Silver prices and demand at record highs during a time of production deficits unique investment • Leadership team with track record success opportunity for • Advancing the Richmond Hill Gold Project, one of
Slide 5: U.S. Gold production and consumption
U.S. Gold production and consumption Historical U.S. Annual Gold Production 1 • U.S. Executive Order (March 20, 2025) designated critical YEARS TONNES minerals as well as gold as a focus for development in securing 2000 302 U.S. domestic supply. 2 2010 209 2020 175 • Current U.S. gold production doe
Slide 6: Homestake District: New Opportunities
Richmond Hill Homestake District: New Opportunities Maitland Gold Project Gold Project Legend - Dakota Gold holds ~50k mineral acres in the • Private Land Homestake District • Over 3,000 mineral acres • Private Land • Development stage Dakota Gold Land Package Richmond Hill – Private Land • 2,3
Slide 7: Richmond Hill Gold Project
RICHMOND HILL GOLD PROJECT dakotagoldcorp.com | NYSE-A: DC 7
Slide 8: Overview of Geology and February 2025 S-K 1300 IA
OVERVIEW of GEOLOGY and FEBRUARY 2025 S-K 1300 IA dakotagoldcorp.com | NYSE-A: DC 8
Slide 9: Regional geology
Regional geology Richmond Hill • The northern Black Hills is a Laramide-age structural dome on the eastern edge of the Wyoming craton, exposing Archean to Oligocene rocks o Precambrian metamorphic basement in the core o Younger Paleozoic sedimentary units preserved around the margins. • The Lead–Dea
Slide 10: Local geology
Local geology • Precambrian units in the project area include Poorman Formation and the Yates greenstone/amphibolite Member, Homestake Iron Formation, Ellison Formation, and Flag Rock Formation o At Maitland, the Homestake Formation is a key target because it hosts the same mineralization style as a
Slide 11: Local geology
Local geology • Paleozoic units and a variety of Tertiary intrusives are present at Richmond Hill and Maitland • The Cambrian–Ordovician Deadwood Formation is the major mineralized Paleozoic unit o The Deadwood includes basal conglomerate and sandstone, interbedded shale-sandstone- carbonate units,
Slide 12: Local geology
Local geology Tbx Tp Breccia Phonolite Trp Rhyolite Ttp Trachyte Tl Latite Tu Tertiary Undifferentiated Mp Pahasapa Limestone RICHMOND HILL MINE MDe Miss-Devonian Englewood Owh Ordovician Whitewood Owi Ordovician Winnipeg OCd Cambro-Ordovician Deadwood Xf Proterozoic Flag Rock Xe Proterozoic Ellison
Slide 13: Richmond Hill Oxide Heap Leach Gold Project
Richmond Hill Oxide Heap Leach Gold Project Maitland – Developing One of the Next Gold Mines in the USA Richmond Hill 3 km north of New S-K 1300 Mineral Resource Wharf • Heap Leachable Mineral Resource: • 3.65 M oz of M&I Gold • 38.1 M oz of M&I Silver • 2.61 M oz of Inferred Gold • 22.8 M oz of Inf
Slide 14: Richmond Hill - Heap leachable resource
Richmond Hill - Heap leachable resource AuEq Mineral resource is based on a RESOURCE CUT OFF AuEq GOLD SILVER GOLD SILVER KTONNES constrained block model using drill results CATEGORY GRADE (G/T) (G/T) (G/T) (KOZ) (KOZ) up to November 2, 2024 using an inverse (G/T) distanced squared methodology and t
Slide 15: Grade / Tonnage Curve
Millions of Tonnes 0 50 100 150 200 250 300 0.0034 0.0171 0.0343 0.0617 0.0789 dakotagoldcorp.com | NYSE-A: DC 0.0960 0.1131 0.1303 0.1474 0.1646 0.1817 0.1989 0.2160 0.2331 Dakota Gold’s resource cut-off 0.2503 Approximate average 0.2674 0.2846 0.3017 0.3257 0.3429 0.4114 0.4800 0.5486 0.6171 (Mton
Slide 16: Richmond Hill – Combined heap leach & mill resource
Richmond Hill – Combined heap leach & mill resource Mineral resource is based on a RESOURCE AuEq GOLD SILVER GOLD SILVER constrained block model using drill results KTONNES up to November 2, 2024 using an inverse CATEGORY (G/T) (G/T) (G/T) (KOZ) (KOZ) distanced squared methodology and the Measured M
Slide 17: Richmond Hill Resource – Plan View
Richmond Hill Resource – Plan View Heap Leach Resource Milled Resource milled portion of the resource dakotagoldcorp.com | NYSE-A: DC 17
Slide 18: Heap Leachable Resource – Cross Section A-A’
Heap Leachable Resource – Cross Section A-A’ dakotagoldcorp.com | NYSE-A: DC 18
Slide 19: Combined Heap Leach and Milled Resource – Cross Section A-A’
Combined Heap Leach and Milled Resource – Cross Section A-A’ dakotagoldcorp.com | NYSE-A: DC 19
Slide 20: Heap Leachable Resource – Cross Section B-B’
Heap Leachable Resource – Cross Section B-B’ dakotagoldcorp.com | NYSE-A: DC 20
Slide 21: Combined Heap Leach and Milled Resource – Cross Section B-B’
Combined Heap Leach and Milled Resource – Cross Section B-B’ dakotagoldcorp.com | NYSE-A: DC 21
Slide 22: Combined Heap Leach and Milled Resource – Cross Section C-C’
Combined Heap Leach and Milled Resource – Cross Section C-C’ dakotagoldcorp.com | NYSE-A: DC 22
Slide 23: Heap Leachable Resource – Isometric View
Heap Leachable Resource – Isometric View Heap Leach Resource Insert cross section Milled Resource milled portion of the resource dakotagoldcorp.com | NYSE-A: DC 23
Slide 24: 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 25: Overview of July 2025 IACF
OVERVIEW of JULY 2025 IACF dakotagoldcorp.com | NYSE-A: DC 25
Slide 26: 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 27: 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 27
Slide 28: Richmond Hill – IACF proposed mine plan
Richmond Hill – Water Overburden Storage Area IACF proposed mine plan Leach Pad 3 Treatment Plant (Reclaimed) North (35.6MM tons) Reclaimed Mined Area Leach Pad 2 • 580 acres of net disturbance is (44.4MM tons) anticipated with the initial permit Storm Event Mined Area Conveyance Spillway • Initial
Slide 29: Richmond Hill - Location and infrastructure
Richmond Hill Dakota Gold Project Map - Location and JB Gold Zone infrastructure Unionville Zone Location: Richmond Hill Proposed Powerline • Project 15-minute drive from 3 km north of Maitland Wharf headquarters in Lead Existing Powerline Labor: • South Dakota provides access to labor for Access ro
Slide 30: 2025 & 2026 Drill Programs Informing PFS/FS Resource Update
2025 & 2026 DRILL PROGRAMS INFORMING PFS/FS RESOURCE UPDATE dakotagoldcorp.com | NYSE-A: DC 30
Slide 31: Richmond Hill - 2025 and 2026 drill campaigns
Richmond Hill - 2025 and 2026 drill campaigns Northern Exp • 2025 Drill Campaign - 29,279 meters (96,000 feet) of drilling completed in 242 holes. • 2026 Drill Campaign - 17,273 meters (56,670 feet) of drilling completed in 112 holes. • Adding ~30% new drilling data relative to the IACF to inform Q4
Slide 32: Richmond Hill – 2025 and 2026 expansion drilling
Richmond Hill – 2025 and 2026 expansion drilling • The expansion drill programs covered an area of 580 meters north - south and 730 meters east – west past the current M&I boundary. • Higher-grade gold expansion drilling intervals: o RH26C-432 - 11.36 g/t Au and 14.92 g/t Ag over 26.3 m (298 gram-me
Slide 33: Richmond Hill resource drilling highlights
Richmond Hill resource drilling highlights • Refined oxidation boundaries through additional drilling to improve resource modeling confidence. • Mineralization remains open to the north with continuity confirmed across the deposit. • Drilling expected to convert inferred resources to indicated, with
Slide 34: Pre-Feasibility Study
PRE-FEASIBILITY STUDY dakotagoldcorp.com | NYSE-A: DC 34
Slide 35: Richmond Hill – Pre-Feasibility study led by M3
Richmond Hill – Pre-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
Slide 36: Richmond Hill - Metallurgical test work
Richmond Hill - Metallurgical test work Over 100 drill holes in 2025 were designed and drilled for the collection of metallurgical samples. The Company shipped representative met samples to Forte Dynamics Lab (the “Lab”) that represent 28 potential geo- metallurgical domains. Metallurgical testing s
Slide 37: Richmond Hill - Metallurgical test work
Richmond Hill - Metallurgical test work Bottle Roll Testing (110 tests) • Covered 5 geological formations using samples grouped by rock type, grade, and sulfur content • Classify ore as oxide (leachable), transition, or sulfide (not leachable) based on recovery performance • Classification driven by
Slide 38: Richmond Hill - Metallurgical test work
Richmond Hill - Metallurgical test work Run of Mine (ROM) Testing • Parallel testing using unprocessed rock from the Intrusive and Deadwood formations • Both vat leach and column leach tests on each sample at different particle sizes Why This Matters • ROM ore will be evaluated for opportunity to pr
Slide 39: Richmond Hill – Pre-Feasibility trade-off studies
Richmond Hill – Pre-Feasibility trade-off studies • Mining and Stacking Tonnage Rates o IACF 30,000 tpd versus 60,000 tpd optimized mining throughput and stacking rate to maximize ounce profile, cash flow, LOM timeline, and overall project financials Conveyor Stack o Crushing and stacking rates will
Slide 40: Pre-Feasibility and Feasibility Study engineering and design
Richmond Hill - Pre-Feasibility and Feasibility Study engineering and design Evolution in Approach to Project Engineering and Design • Focus is on 1) Operability, 2) Maintainability, 3) Constructability (Reliability Approach) • Enhance Project Value by shifting from conceptual designs to fit-for-pur
Slide 41: Richmond Hill timeline to production
Richmond Hill timeline to production - Targeting first gold production in 2029 through a disciplined, phased responsible development approach that systematically de-risks Richmond Hill. 2026 2027 2028 2029 2030 Pre-Feasibility Study Feasibility Study Baseline Data Collection Permitting - County Cond
Slide 42: Environmental and Permitting
ENVIRONMENTAL and PERMITTING dakotagoldcorp.com | NYSE-A: DC 42
Slide 43: Richmond Hill responsible development
Richmond Hill responsible development Scale of the • The first phase of mining within the Richmond Hill Project Area will target a maximum disturbance of 580 acres Richmond Hill Project • Concurrent Reclamation with mining is part of the mining plan to The targeted land disturbance is only reduce di
Slide 44: 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 45: County and State Permits – Mining permit pathways
County and State Permits – Mining permit pathways Large Scale Mine Permit Conditional Use Permit State — SD DANR County — Lawrence County 1 Baseline Data 1 Conditional Use Permit 2025 pre-submission meetings; baseline plan approved. Required for specific land uses such as mining. 2 File Notice of In
Slide 46: Maitland Gold Project
MAITLAND GOLD PROJECT dakotagoldcorp.com | NYSE-A: DC 46
Slide 47: 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 48: 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 49: Maitland – Unionville Zone
Maitland – Unionville Zone • Extensive zone of continuous Tertiary Long Section (A-A’) epithermal gold mineralization A Target Extension Surface Rock Chip Samples • Open in all directions • Target extension strike extends for at least 2,000 meters (6,562 feet) • With inclusion of rock chip samples,
Slide 50: 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 • Drilling in 2026 and maiden resource H1 2027 • Step-out drilling near underground workings with historic production, but no historic drilling or surface sampling • Conceptual
Slide 51: Homestake District – New opportunities
Homestake District – New opportunities Dakota Gold holds ~50k mineral acres across the district Dakota Gold Land Package Richmond Hill – Private Land Homestake Iron Formation Richmond Hill – M&I resource Wharf open pit mine Maitland - Private Land Wharf Land Package Dakota Gold Headquarters Maitla
Slide 52: Corporate Overview
CORPORATE OVERVIEW dakotagoldcorp.com | NYSE-A: DC 52
Slide 53: Local experience and competencies
Local experience and competencies ~87% 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 54: Dakota Gold Senior Management & Board
Dakota Gold Senior Management & Board Own ~8% Jan 1, 2025 – Aug 14, 2026 Dakota Gold 184% Spot Gold +66% NYSE American: DC Alignment with Shareholders Performance S&P 500 +32% CAPITAL STRUCTURE Robert Quartermain (in millions) (Jun 30, 2026) - Co-Chair and Director, 6.0% SSgA Funds, 5.5% Shares Out
Slide 55: The Lassonde Curve
The Lassonde Curve Speculation & Discovery Post-Discovery Dip Institutional & Strategic Operating Mine Initial drill results generate rough resource Company advancing a Future production becomes Full valuation obtained following estimates. New exciting discovery and defined project. Potential immine
Slide 56: Opportunity for increased valuation
Opportunity for increased valuation • Opportunity for $EV/oz of Resources and Reserves valuation to increase as Richmond Hill advances through Feasibility Study and into Production. Developer US$EV/ Resource oz Developer US$EV/ Reserve oz Source: CIBC Weekly Mining Comps as at July 6, 2026 dakotagol
Slide 57: Current market valuation of producers
Current market valuation of producers • Opportunity for EV valuation to increase as Richmond Hill advances into Production. 2026E 100 kozpa as EV (US$M) EV Company Prod'n % of per (US$M) (AuEq koz) production 100kozpa Dakota Gold’s 150 koz of annual production Alamos Gold $11,685 534 19% $2,187 woul
Slide 58: Project financial metrics
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 mine after-tax cas
Slide 59: Significant Gold Optionality for Shareholders 2026/2027 Milestones
Significant Gold Optionality 2026 /2027 Milestones for Shareholders Richmond Hill – Advancing • Richmond Hill - S-K 1300 Initial Feasibility and Permitting Assessment with Cash Flow outlined • Infill and expansion drilling 2.6 Moz Au and 8.7 Moz Ag life of mine • Metallurgical testing production wit
Slide 60: NYSE American: DC
MEDIA AND INVESTOR RELATIONS Jack Henris Chief Executive Officer, President and Director O +1 605 717 2540 Shawn Campbell Chief Development Officer info@dakotagoldcorp.com O +1 778 655 9638 Carling Gaze @dakotagoldcorp Director of Investor Relations O +1 605 679 7429 linkedin.com/company/dakotagold/