Lead, South Dakota--(Newsfile Corp. - September 9, 2022) - Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") is pleased to announce that it has amended its binding option agreement with Lac Minerals (USA) LLC ("LAC") and Homestake Mining Company of California ("HMCC" or "Homestake"), both wholly owned subsidiaries of Barrick Gold Corporation ("Barrick"), on the Richmond Hill Property in the Homestake District, South Dakota ("Richmond Hill").
An 18-month extension to the original 3-year option term pushing the option exercise date to March 7, 2026.
Inclusion of an additional 600 acres of 100% mineral rights owned by Homestake within and around the Wharf Mine Property.
Five core holes have been completed at Richmond Hill for a total of 12,204 feet (3,698 meters). Assays are pending.
The Company is in the process of securing a fourth drill rig with potential placement at Richmond Hill in the future.
The amended option agreement extends the option period for another 18 months, giving the Company further optionality in its exploration at Richmond Hill.
The inclusion of the additional 600 acres of mineral rights is consistent with the Company's continued consolidation in the Homestake District. Furthermore, the addition of these acres gives the Company access to potential drill targets identified in the Company's West Corridor Project, particularly those identified south of Richmond Hill area.
Under terms of the agreement, the Company will issue an additional 180,000 shares to Barrick. Other terms and obligation within the original option agreement will remain unchanged.
Jonathon Awde, President, CEO and Director of Dakota Gold stated, "We are very pleased that Barrick continues to work with us in advancing our broader Homestake District strategy. We look forward to their continued support and collaboration towards our success."
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