Dakota Gold Reports Significant Heap Leachable Gold at Richmond Hill Totaling 3.65 Million Ounces of Measured and Indicated Mineral Resources

Core Viewpoint - Dakota Gold Corp. has reported a significant heap leachable gold resource at the Richmond Hill Oxide Heap Leach Gold Project, totaling 3.65 million ounces of measured and indicated mineral resources, which positions the company for near-term production opportunities [1][4]. Resource Summary - The heap leachable resource includes 1.79 million ounces of measured gold and 1.86 million ounces of indicated gold, with additional inferred resources of 2.61 million ounces [2][4]. - The resource is primarily oxide material, with a significant upgrade from the previous maiden resource reported in April 2024, where the oxide resource was 60% inferred and had no measured resources [7]. - The resource is supported by extensive drilling data, including 56,734 gold assays from 902 drill holes and 30,743 gold assays from Dakota Gold's drilling since 2022 [8]. Economic Potential - The Initial Assessment with Cash Flow (IACF) is planned for release in mid-2025, which will outline a potential heap leach operation similar to Coeur Mining's Wharf Mine, expected to generate over $100 million in free cash flow in 2024 [4][10]. - The project is located on private land with existing infrastructure, which is anticipated to reduce construction costs and timelines to production [6][10]. - A non-binding financial proposal for up to $300 million from Orion Mine Finance could provide the necessary funding for the development of the project [10]. Future Development Plans - Additional drilling is planned to expand the resource and convert it to reserves, with a focus on areas containing higher-grade heap leach material [5][9]. - The company has contracted with engineering and metallurgical firms to advance from the IACF to a full feasibility study by mid-2025 [9]. - The Richmond Hill project has the potential for further resource expansion with ongoing drilling activities [15].