Dakota Gold Announces Pricing of Offering of Common Stock for Gross Proceeds of Approximately $35 Million

Lead, South Dakota--(Newsfile Corp. - March 20, 2025) - Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") today announced the pricing of its previously announced public offering of 12,400,000 shares of its common stock, par value $0.001 (the "Common Shares") in the United States (the "Offering"). The Offering is expected to close on or about March 24, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the NYSE American.

The gross proceeds to Dakota Gold from the Offering, before deducting expenses, will be approximately $35 million, or approximately $40 million if the Underwriters exercise the Option (as defined below) in full.

The Company expects to use the net proceeds of the Offering for working capital and other general corporate purposes.

The Common Shares will be offered by the Company with BMO Capital Markets acting as lead book-running manager, Canaccord Genuity acting as book-running manager and CIBC Capital Markets, RBC Capital Markets, Scotiabank and Agentis Capital Markets Limited Partnership acting as co-managers (collectively, the "Underwriters").

Dakota Gold has also granted the Underwriters an option (the "Option") to purchase up to an additional 1,860,000 Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering. The Option is exercisable for a period of 30 days from the date of the Underwriting Agreement, dated March 20, 2025, between Dakota Gold and BMO Capital Markets, as representative of the several Underwriters (the "Underwriting Agreement").

The Offering to the public in the United States is being made pursuant to the Company's effective shelf registration statement on Form S-3, including a base prospectus, previously filed with the Securities and Exchange Commission (the "SEC"). The Offering in the United States will be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the base prospectus may be obtained by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036.