Dakota Gold intersects 3.14 g/t gold and 10.57 g/t silver over 13.4 meters in expansion drilling at Richmond Hill Ready to Announce with Confidence?
Lead, South Dakota--(Newsfile Corp. - March 17, 2026) - Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") is pleased to report the remaining infill and expansion drill results from the Richmond Hill Oxide Heap Leach Gold Project ("Richmond Hill" or the "Project") from the 2025 drill campaign. Richmond Hill hosts a large resource including 3.65 million ounces ("oz") of measured and indicated ("M&I") gold and 2.61 million oz of inferred gold, as well as 38.1 million oz of M&I silver and 22.8 million oz of inferred silver outlined in the S-K 1300 Initial Assessment published on February 6, 2025. Gold and silver assay results from the 2025 and 2026 drill campaigns at Richmond Hill will be incorporated into a Pre-Feasibility Study ("PFS") being published in the second half of 2026. This work will enable the Company to report reserves in 2026, further de-risking the Project as it advances along its path to expected production in 2029.
Highlights from this update include:
Jack Henris, President and COO of Dakota Gold said, "The final drill results from the 2025 drill campaign at Richmond Hill continue to illustrate the potential for expansion and higher-grade gold and silver opportunities for the Project, particularly in the north where we expect to begin the initial years of mining. The Company began its 2026 drill campaign in January and has added a third drill. We are pleased with how the program is progressing to date and we expect the infill portion of the campaign to be completed before the end of March. The infill drilling has been primarily focused in the northwest area of the Project to convert inferred resources to indicated in the upcoming PFS. We look forward to announcing the results as they are received throughout the year."
2025 Drill Campaign Summary
The 2025 drill campaign at Richmond Hill included 242 drill holes in 29,524 meters (96,865 ft) and was designed to collect data for a multitude of purposes to advance the Project towards completing a PFS. The campaign included infill, expansion, metallurgical, site infrastructure and water well testing. The testing informs our geological and geo-metallurgical modelling and will enable the Company to optimize the mine design for cash flow and operation efficiencies.
With the higher-grade gold encountered in the 2025 drill campaign, the Company is undertaking trade-off studies in the PFS evaluating mine sequencing to bring forward high-grade gold areas. Using an average gold grade of 0.55 g/t Au, a base case gold price of $2,350 an ounce, and a processing rate of 30,000 tons per day, the IACF calculates an average annual gold production of 150,000 ounces Au and an initial CAPEX payback or Internal Rate of Revenue ("IRR") of 59% for the MI&I mine plan. The 2025 drill campaign returned many gold assays exceeding the average gold grade from the IACF including select highlighted intersections over 80 gram meters Au listed below. A complete table of the 2025 drill results including gold and silver assays is available to view here.
Select higher-grade gold drill results from the 2025 Richmond Hill Drill Campaign
Figure 1. Plan Map showing location of Dakota Gold Corp. Richmond Hill 2025 Drill Campaign drill results reported today in Table 1.
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Figure 2. Plan Map showing S-K 1300 Initial Assessment measured and indicated blocks projected to the surface with 2025 drilling, with labeled holes reported today in Table 1, and location of cross-section in Figure 3.
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Figure 3. Cross-section with S-K 1300 Initial Assessment measured and indicated blocks and measured and indicated resource cone, with projection of drillholes within 500 meter section, showing open mineralization to the north.
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Table 1. Richmond Hill Drill Results (Metric / Imperial) 1,2,3,4,5, 6
The table may contain rounding errors.
Figure 4. Plan Map showing location of Dakota Gold Corp. Richmond Hill 2026 Drill Campaign infill drill holes completed to date.
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About Dakota Gold Corp.
Dakota Gold is expanding the legacy of the 145-year-old Homestake Gold Mining District by advancing the Richmond Hill Oxide Heap Leach Gold Project to commercial production as soon as 2029, and outlining a Tertiary maiden resource as well as a high-grade underground gold resource at the Maitland Gold Project, both located on private land in South Dakota.
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Shareholder and Investor Inquiries
For more information, please contact:
Jack Henris
President and COO
Tel: +1 605-717-2540
Shawn Campbell
Chief Financial Officer
Tel: +1 778-655-9638
Carling Gaze
VP of Investor Relations and Corporate Communications
Tel: +1 605-679-7429
Email: info@dakotagoldcorp.com
Qualified Person and S-K 1300 Disclosure
James M. Berry, a Registered Member of SME and Vice President of Exploration of Dakota Gold Corp., is the Company's designated qualified person (as defined in Subpart 1300 of Regulation S-K) for this news release and has reviewed and approved its scientific and technical content.
Quality Assurance/Quality Control consists of regular insertion of certified reference materials, duplicate samples, and blanks into the sample stream. Samples are submitted to the ALS Geochemistry sample preparation facility in Winnipeg, Manitoba. Gold and multi-element analyses are performed at the ALS Geochemistry laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab. Check samples are submitted to Bureau Veritas, Vancouver B.C. as an umpire laboratory. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company database.
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. When used in this communication, the words "plan," "target," "anticipate," "believe," "estimate," "intend," "potential," "will" and "expect" and similar expressions are intended to identify such forward-looking statements. Any express or implied statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation: our expectations regarding additional drilling, metallurgy and modeling; our expectations for the improvement and growth of the mineral resources and potential for conversion of mineral resources into reserves; completion of a pre-feasibility study, a feasibility study, and/or permitting; our expectations regarding free cash flow and future financing, and our overall expectation for the possibility of near-term production at the Richmond Hill project. 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 execution and timing of our planned exploration activities; our use and evaluation of historic data; our ability to achieve our strategic goals; 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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as updated by annual, quarterly and current reports that we file with the SEC, which are available at www.sec.gov. 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. We do not give any assurance that we will achieve our expectations.
All references to "$" in this communication are to U.S. dollars unless otherwise stated.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288759
Source: Dakota Gold Corp.
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