Dakota Gold : Corporate Presentation February 2024

Revitalizing The Homestake District of South Dakota

dakotagoldcorp.com

DAKOTA GOLD CORPORATE PRESENTATION

February 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-KT for the nine-month transition period ended December 31, 2022, 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 - 258,496 feet drilled as of Feb 21, 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
• Unionville Zone Discovery at Maitland - Tertiary Mineralization
• Significant Mineralization encountered at Richmond Hill - validation drilling program complete for producing S-K 1300 resource in Q1 2024
• Closed Investment with Orion - $17 M* for ~7% ownership
• Planned $30 Million Exploration Program for 2024
• TD Zone Discovery - Rare Earth Elements at Richmond Hill

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* See Oct 12 and Oct 20, 2023 news releases

DAKOTA GOLD PROJECT AREAS

Homestake District, South Dakota, USA

NYSE American: DC

Over ~46 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

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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	+$32.3 MILLION	BARRICK OPTION
HOMESTAKE MINE	LAND PACKAGE	LEADERSHIP TEAM	CASH BALANCE1	AGREEMENTS

• +40M ounce gold producer	•	+46 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

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1. Cash as at September 30, 2023 was $12.76M + $17M from the Orion financing and $2.55M from the ATM, both disclosed as a subsequent event in the 10-Q as filed on November 12, 2023 and available on Edgar.
2. See Oct 12 and 20, 2023 news releases

DAKOTA GOLD'S PROPERTY MAP

Key project areas

NYSE American: DC

BARRICK AGREEMENTS

MAITLAND PURCHASE

AGREEMENT

October 23, 2020

• Purchased 2,112 mineral acres

SURFACE BARRICK OPTION AGREEMENT

September 7, 2021

• Option to acquire 4,261 acres of surface rights with attendant facilities and data
• Provides for exclusive access to Homestake's extensive historic data sets which chronicle its 145-year exploration and mining history throughout South Dakota

RICHMOND HILL OPTION

AGREEMENT

October 14, 2021 /

September 9, 2022

• Option to acquire 2,726 acres of surface and mineral rights with facilities

	Blind	MAITLAND
				Sturgis
RICHMOND HILL	Gold
		City
		Creek
Tinton		Deadwood

	Lead
		BARRICK
		(HOMESTAKE)
Over ~46 Thousand
Mineral Acres
Incl ~13 Thousand
on Private Land
		miles 1 2
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*Dakota Gold does not own all surface rights or mineral rights associated with the Project Areas outlined above.

The images above are for illustrative purposes and do not represent an exact description of surface and mineral rights.

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

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LONG SECTION - HOMESTAKE CORRIDOR

Maitland Gold Project Contiguous to the Historic Homestake Mine

NYSE American: DC

NW

MAITLAND PROPERTY

Potential For New Mine Opportunities

FORMER HOMESTAKE MINE

40 Million Ounces Gold Produced

SE

Homestake Iron Formation

MG 50' @ 0.109 opt AU M27 50' @ 0.122 opt AU M28 75' @ 0.211 opt AU M183 80' @ 0.109 opt AU

Blind Gold

Property

APPROXIMATE
PROPERTY
BOUNDARY	Saw Pit

Dakota Gold Drilling

Historic Drilling

Open Cut

Grizzly Gulch

MA93-02

10' @ 0.154 opt AU

Drilling has confirmed Homestake Mine-Style Gold Mineralization is present

at Maitland & revealed

- Phase I Drilling Complete

- Phase II Directional Drilling

commenced Q3 2023

Historic North Drift

Discovery

6800 Level

Yates Shaft

4850 Level

#6 Winze

Ross Shaft

Production by ledge

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

a new Tertiary Epithermal Mineralization target

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

15 Ledge	~1 Moz
17 Ledge	~1 Moz
19 Ledge	~3 Moz

Private Surface Access Dakota Gold Minerals

Homestake Surface Option

SDSTA Minerals

	21 Ledge	~2 Moz
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MAITLAND GOLD PROJECT

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

MAITLAND GOLD OPPORTUNITY

• Continuous iron formation host rock extending north from Homestake Mine
• Exploration focus for Homestake Mining Company's growth strategy in the 1990's
• Private land for drilling
• Completed Phase I of drill program (~ 90k ft). Phase II of directional drilling to halve the distance between holes commenced Q3 2023
• 131,960 feet drilled as of Feb 21, 2024
• JB Gold Zone Discovery at Maitland - Homestake Mine-Style Formation - proof of concept
• Unionville Zone Discovery at Maitland - Tertiary Epithermal Mineralization

NYSE American: DC

HISTORICAL HOMESTAKE MINE LEDGES

19 Ledge Projected Footprint with Dakota Gold Maitland Holes Plan view

NYSE American: DC

• Identified Homestake Mine-style gold mineralization at Maitland and discovered the JB Gold Zone

• Tertiary epithermal gold mineralization is over 4,000 feet in strike length and remains open to the north and south

• The large Tertiary structural zone extends from the surface to deep into the Precambrian basement

• 19 Ledge footprint used for scale of major mineralization in the Homestake Mine

• The Maitland Project is 1.4 miles north of the North Drift discovery and 3.4 miles north of the Homestake Mine Open Cut

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*See news releases dated Jan 17, 2024