Dakota Gold Corporate Update Following Successful Close of $35 Million Financing

Core Viewpoint - Dakota Gold Corp. has successfully raised $35 million through a common stock offering, enhancing its cash position to over $47 million, which will fund the Richmond Hill Oxide Heap Leach Gold Project through the Feasibility Study phase [1][2][3]. Group 1: Financing and Cash Position - The company raised $35 million from an underwritten common stock offering, resulting in a total cash position exceeding $47 million before expenses [1]. - With this strong cash position, the company will suspend its at-the-market equity program previously used for generating working capital [1]. Group 2: Richmond Hill Project Development - Richmond Hill is identified as one of the largest undeveloped gold resources in the U.S., with potential production expected as early as 2029 following the completion of the Feasibility Study [2]. - The company plans to release the Richmond Hill Initial Assessment with Cash Flow (IACF) in mid-2025, which is a critical step towards commercial production [3]. - Drilling operations are set to commence on April 1, 2025, focusing on infill drilling and sample collection in the northwest corner of the project [4]. Group 3: Environmental and Regulatory Considerations - Baseline environmental studies are being conducted to inform future permitting requirements for the Richmond Hill project [3]. - The project is located on private land within a mining jurisdiction that has existing infrastructure, which is expected to lower construction costs and timelines [5]. Group 4: Maitland Gold Project - At the Maitland Gold Project, the company is reviewing drilling and database information to outline an initial resource for the JB Gold Zone and the Unionville Zone [6]. - Maitland is seen as providing long-term high-grade optionality within the company's project pipeline [6]. Group 5: Market Context - The company anticipates that resource projects on the development track will benefit from a favorable government-supported permitting process, especially with gold prices at record highs [2][7].