Dakota Gold Corp. Announces Merger Closing as Part of a Specific Focus on Revitalizing the Homestake District in Lead, South Dakota

Lead - Dakota Gold Corp. ('Dakota Gold' or the 'Company') is pleased to announce the completion of the merger (the 'Merger') between Dakota Territory Resource Corp. and JR Resources Corp. pursuant to an Amended and Restated Agreement and Plan of Merger, dated September 10, 2021.

Dakota Gold expects to receive approval to list its common stock on the NYSE American and the Company anticipates that trading will commence on or about April 5, 2022. Dakota Gold's common stock will trade under the symbol 'DC'. The last day of trading Dakota Territory common stock on the OTCQB was March 30, 2022, as on March 31, 2022, Dakota Territory common stock is no longer quoted on the OTCQB. The Company recommends that holders who acquired shares of Dakota Territory common stock through the OTC Markets monitor their institution or brokerage account to ensure their holdings are correctly reflected under the new ticker symbol. Dakota Gold intends to list its warrants for trading on the NYSE American following the effectiveness of its related registration statement on Form S-1.

Dakota Gold is a South Dakota-based pure play gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold maintains high-caliber gold mineral properties covering over 40 thousand acres surrounding the historic Homestake Mine. The Dakota Gold team is focused on new gold discoveries and opportunities that build on the legacy of the Homestake District and its 145 years of gold mining history.

'On behalf of the board and management of Dakota Gold, and the entire team in Lead, South Dakota, I want to personally thank all shareholders of Dakota Territory and JR Resources, and all of our new shareholders who participated in Dakota Territory's $50 million private placement. All of you have directly contributed to the success of Dakota Gold Corp.,' said Jonathan Awde, President and Chief Executive Officer of Dakota Gold. 'Because of this support, we were able to dramatically expand our land package and close several mineral ownership deals with Barrick Gold Corporation, making us the largest landowner in the historic Homestake District. We have also established an ESG fund to support various local and State initiatives,' added Mr. Awde.

Co-Chairman and Director Dr. Robert Quartermain stated, 'Our strategy is to apply an entrepreneurial spirit guided by a strong shareholder alignment to acquire properties and advance projects with a sense of urgency in the Homestake District of South Dakota. This merger enables Dakota Gold to move forward and focus on its strategic objectives.'

About Dakota Gold Corp.

Dakota Gold is a South Dakota-based responsible gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold has high-caliber gold mineral properties covering over 40 thousand acres surrounding the historic Homestake Mine.

The Dakota Gold team is focused on new gold discoveries and opportunities that build on the legacy of the Homestake District and its 145 years of gold mining history.

Contact:

Jonathan Awde

Tel: [phone]

Email: [e-mail]

Cautionary Note to U.S. Investors

The SEC limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. Our property currently does not contain any known proven or probable ore reserves under SEC reporting standards. Our reference above to the various formations and mineralization believed to exist in our property as compared to historical results and estimates from other property in the district is illustrative only for comparative purposes and is no indication that similar results will be obtained with respect to our property. U.S. investors are urged to consider closely the disclosure in our latest reports filed with the SEC.

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, including the statements regarding the Merger. 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 effect of the announcements regarding the Merger on the market price of Dakota Gold common stock, the possibility that the anticipated benefits of the Merger will not be realized, or will not be realized within the expected time period, the inability to meet expectations regarding the accounting and tax treatments of the Merger, the possibility that the Merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events, the possibility that the listing of Dakota Gold common stock on the NYSE American will be delayed or does not occur for reasons beyond our control, diversion of management's attention from ongoing business operations and opportunities, the execution and timing of our planned exploration activities, our use and evaluation of historic data, our ability to achieve our strategic goals, fluctuations in the market price of the Company's common stock following the Merger, 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 Dakota Territory's Annual Report on Form 10-K for the year ended March 31, 2021, as amended, as updated by annual, quarterly and other reports and documents that we file with the SEC, including the registration statement on Form S-4 that has been filed with the SEC in connection with the Merger and the proxy statement filed on Form DEF 14A. 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.

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