Dakota Gold : Corporate Presentation - Gold Forum Europe April 2024

Revitalizing The Homestake District of South Dakota

dakotagoldcorp.com

DAKOTA GOLD CORPORATE PRESENTATION April 8 - 10, 2024

NYSE American: DC

DISCLAIMER

NYSE American: DC

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, including the statements regarding Dakota Gold Corp.'s ("Dakota Gold", or the "Company") option agreements with Barrick Gold Corporation ("Barrick") and the Company's future exploration plans. 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 Company's ability to exercise the options with Barrick, the timing of the exercise of the options, the consideration for the options, Barrick's ownership interest in the Company, the Company's ability to create jobs in South Dakota, the potential for gold mineralization in the properties subject to the option, the price of gold, synergies between the option properties and the Company's existing assets, the Company's use of disturbed land, the Company's use of historic data, the Company's exploration plans and the potential of its projects, 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 Dakota Gold's Annual Report on Form 10-K for year ended December 31, 2023, as amended, as updated by annual, quarterly and other reports and documents that we file with the SEC. 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.

All references to "$" in this presentation are to U.S. dollars unless otherwise stated.

dakotagoldcorp.com | 2

DAKOTA GOLD DELIVERING VALUE

NYSE American: DC

PROGRESS MADE SINCE COMMENCING DRILLING

• Drilling commenced - Jan 2022
• Merger and NYSE American listing - Spring 2022
• Four Drills Operating - 279,921 feet drilled as of Apr 1, 2024
• Private Land (~13k Acres) Secured for drilling - 60 days drill permitting
• Encountered Homestake Formation at depth, proof of concept
• JB Gold Zone Discovery at Maitland - Homestake Formation - West Ledge system analogue
• Unionville Zone Discovery at Maitland - Tertiary Mineralization
• Richmond Hill - S-K1300 maiden resource expected early Q2 2024
• TD Zone Discovery - Rare Earth Elements at Richmond Hill
• Closed Investment with Orion - $17 M* for ~7% ownership
• Planned $30 Million Exploration Program for 2024

| 3

* See Oct 12 and Oct 20, 2023 news releases

DAKOTA GOLD PROJECT AREAS

Homestake District, South Dakota, USA

NYSE American: DC

Over ~48 Thousand Mineral Acres

Incl ~13 Thousand on Private Land

HOMESTAKE DISTRICT HIGHLIGHTS

• World's largest iron formation-hosted gold deposit
• Rare earth elements potential
• Under explored district
• Mining friendly jurisdiction

dakotagoldcorp.com | 4 dakotagoldcorp.com | 4

THE DAKOTA GOLD HOMESTAKE ADVANTAGE

Largest property package in the area; key projects on private land

NYSE American: DC

HOME OF THE	LARGE PROSPECTIVE	EXPERIENCED	+$25.5 MILLION	BARRICK OPTION
HOMESTAKE MINE	LAND PACKAGE	LEADERSHIP TEAM	CASH BALANCE1	AGREEMENTS

• +40M ounce gold producer	•	+48 thousand acre	•	Local leadership	•	Strong cash balance
•	World's largest iron		property position with ~13k
	acres on private land	•	Homestake Mine	•	Strategic Partnership
	formation-hosted gold				experience		with Orion Mine Finance
	deposit	•	Drilling several targets over				for $17 million. Orion
•	Over 126 years		next 12 months	•	Track record of finding		purchased 6,666,667
			district-scale projects		shares for ~7% ownership
	of continuous mining	•	Four drills operating	•	Shareholder alignment -		in the company2
•	Safe, low-cost jurisdiction	•	Potential to re-purpose
	25% management
			existing disturbed mineral		ownership
			property

• Exclusive access to 145 years of historical exploration data
• Including $70M exploration investment in 1980's & 90's

dakotagoldcorp.com | 5

1. Cash as at December 31, 2023
2. See Oct 12 and 20, 2023 news releases

HOMESTAKE CORRIDOR PROPERTY

Revitalizing The Homestake District - Over 45M Oz Gold Produced

NYSE American: DC

TINTON

SIGNIFICANCE TO

DAKOTA GOLD

• Target defined by Homestake Mining

Company's Structural Corridor and City

Creek Drill Programs in the 1980-90's

(~230,000 ft of drilling).

• Multiple zones of gold mineralization in

repeating fold structures (best

historical intercept was 24 ft @ 0.204

Oz/ton Au).

BLIND GOLD

HOMESTAKE FORMATION

projected to the surface of the

precambrian unconformity

RICHMOND HILL ~172,000 Oz produced

WHARF MINE

4 million Oz produced

(currently in production)

MAITLAND MINE	Sturgis
~200,000 Oz
produced

			Deadwood
					HOMESTAKE MINE
				~40 million Oz produced
Lead

GILT EDGE

~282,000 Oz produced

• Continuous extension of the iron

formation-host from the Homestake

Gold Mine.

LEGEND

DAKOTA	BARRICK	◉COEUR	◉AGNICO EAGLE
◉GOLD	◉RICHMOND HILL

miles 1 2

dakotagoldcorp.com | 6

LONG SECTION - HOMESTAKE CORRIDOR

Maitland Gold Project Contiguous to the Historic Homestake Mine

NYSE American: DC

NW

MAITLAND PROPERTY		FORMER HOMESTAKE MINE
Potential For New Mine Opportunities	40 Million Ounces Gold Produced
MG 50' @ 0.109 opt AU			Maitland is 3.4 miles north of
M27 50' @ 0.122 opt AU			Homestake Mine Open Cut
M28 75' @ 0.211 opt AU
M183 80' @ 0.109 opt AU

SE

Homestake Iron

Formation

Dakota Gold Drilling

Historic Drilling

4 Target Areas Present

Blind Gold Property

Unionville Zone Target

MA93-02 10' @ 0.154 opt AU

Saw Pit

APPROXIMATE

PROPERTY

BOUNDARY

6800 Level

Open Cut

Yates Shaft

4850 Level

Ross Shaft

Grizzly Gulch

Production by ledge

Caledonia	<1 Moz
Main Ledge	~19 Moz
7 Ledge	~2 Moz
9 Ledge	~9 Moz
11 Ledge	~2 Moz

Historic North Drift

Discovery

DBM89-2 15.0' @ 0.333 opt AU

DBM89-2A 25.0' @ 0.139 opt AU

DBM92-3C 24.0' @ 0.222 opt AU

DBM92-3F 3.5' @ 0.547 opt AU

Private Surface Access

Dakota Gold Minerals

#6 Winze

Homestake Surface Option

SDSTA Minerals

		13 Ledge	< Moz
		15 Ledge	~1 Moz
		17 Ledge	~1 Moz
		19 Ledge	~3 Moz
		21 Ledge	~2 Moz
			| 7

MAITLAND GOLD PROJECT

2,112 Private Mineral Acres & Contiguous to the Historic Homestake Mine

NYSE American: DC

MAITLAND GOLD OPPORTUNITY

• Two new gold discoveries next to the largest gold mine in the U.S.
• • JB Gold Zone Discovery
  • • Homestake Mine-Style Formation
    • Three Ledges delineated
    • Proof of concept
  • Unionville Zone Discovery
  • • Tertiary Epithermal Mineralization
• Maitland is 1.4 miles north of North Drift Discovery and 3.4 miles north of Homestake Mine Open Cut
• Continuous iron formation host rock extending north from Homestake Mine
• Exploration focus for historic Homestake Mining Company's growth strategy in the 1990's
• Private land for drilling
• 153,283 feet drilled as of Apr 1, 2024

Homestake Mine 19 Ledge at same scale and projected to surface.

19 Ledge produced 3 Million Oz Gold

MAITLAND - JB GOLD ZONE

West Ledge System Comparison

NYSE American: DC

North

	7.2 m @
	8.81 g/t
22.6 m @	6.7 m @
2.50 g/t	7.78 g/t
9.5m @
6.99 g/t
5.5 m @	11.4 m @
3.84 g/t	2.64 g/t
6.4 m @	3.2 m @
10.01 g/t
4.77 g/t

1. m @

1. g/t

South

Dakota Gold

Maitland Drilling

1. m @

1. g/t

Current area of Maitland Homestake hits are similar dimensions to West Ledge system shown below

19 Ledge

21 Ledge

17 Ledge

Homestake Mine West Ledge

Outline Drawn to Scale for

Comparison to Maitland

Homestake Drill Intercepts

Mineralized Intercept (not always True Thickness)

Un-Mineralized Intercept

Homestake Mine - West Ledge Outline

• 2.74 g/t Gold Cut-off
• Total of 6 million ounces of gold produced from West Ledge

dakotagoldcorp.com | 9

Long Section View

600 Meters

MAITLAND - JB GOLD ZONE

Three Distinct Ledges of High-Grade Homestake Mine-Style Gold

NYSE American: DC

Approx. location of

Level Plan Map at 3,400' Level

*See news release dated Jan 17, 2024

• The width, grade and stratigraphy of intercepts identified at Maitland are analogous to the gold mineralization found in the "West Ledge" system at the historic Homestake Mine
• The West Ledge system produced approximately 6 million ounces of gold