Dakota Gold (DC) 10-Q 10 Aug 22 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2022	Aug. 10, 2022
Cover [Abstract]
Registrant Name	Dakota Gold Corp.
Registrant CIK	0001852353
Current Fiscal Year End Date	--03-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Entity File Number	000-41349
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	85-3475290
Entity Address, Address Line One	106 Glendale Drive
Entity Address, City or Town	Suite A, Lead
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57754
City Area Code	605
Local Phone Number	717-2540
Title of 12(g) Security	Common Stock, par value $0.001
Trading Symbol	DC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		71,994,644
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Document Transition Report	false

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Current assets
Cash and cash equivalents	$ 35,042,049	$ 41,401,116
Receivables	665,569	94,807
Prepaid expenses and other current assets	970,362	376,689
Total current assets	36,677,980	41,872,612
Non-current assets
Mineral rights and properties	77,000,841	76,962,958
Property and equipment, net	1,283,634	1,229,012
Other assets	40,000	20,000
Total assets	115,002,455	120,084,582
Current liabilities
Accounts payable and accrued liabilities	2,547,959	2,537,154
Total current liabilities	2,547,959	2,537,154
Non-current liabilities
Deferred tax liability	2,494,299	3,713,023
Total liabilities	5,042,258	6,250,177
Commitments and contingent liabilities	0	0
Stockholders' equity
Common stock, par value $0.001; 144,302,330 shares authorized, 71,994,644 and 70,850,395 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively	71,994	70,850
Additional paid-in capital	102,631,028	100,697,655
Retained earnings	7,257,175	13,065,900
Total stockholders' equity	109,960,197	113,834,405
Total liabilities and stockholders' equity	$ 115,002,455	$ 120,084,582

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	144,302,330	144,302,330
Common Stock, Shares, Issued	71,994,644	70,850,395
Common Stock, Shares, Outstanding	71,994,644	70,850,395

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating expenses
Exploration expenses	$ 3,771,517	$ 2,183,641
General and administrative expenses	3,308,661	10,728,748
Loss from operations	(7,080,178)	(12,912,389)
Other incomes (expenses)
Foreign exchange gain (loss)	32,872	(13,406)
Loss on settlement of debt	0	(54,169)
Interest income	19,857	237
Interest expense	0	(37,977)
Total other incomes (expenses)	52,729	(105,315)
Loss before income taxes	(7,027,449)	(13,017,704)
Deferred tax benefit	1,218,724	174,980
Net loss	(5,808,725)	(12,842,724)
Less: Net loss attributable to non-controlling interest	0	(4,548,047)
Net loss attributable to owners of the Company	$ (5,808,725)	$ (8,294,677)
Basic loss per share	$ (0.08)	$ (0.17)
Diluted loss per share	$ (0.08)	$ (0.17)
Weighted average number of basic shares of common stock outstanding	70,958,194	49,064,261
Weighted average number of diluted shares of common stock outstanding	70,958,194	49,064,261

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (5,808,725)	$ (12,842,724)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	48,218	27,661
Loss on settlement of debt	0	54,169
Stock-based compensation expense	1,922,517	10,604,248
Accretion of debt discount	0	37,876
Deferred tax benefit	(1,218,724)	(174,980)
Changes in current assets and liabilities:
Receivables	(570,762)	0
Prepaid expenses and other current assets	(593,673)	(41,813)
Accounts payable and accrued liabilities	10,805	317,086
Accounts payable - related party	0	78,250
Net cash used in operating activities	(6,210,344)	(1,940,227)
Cash flows from investing activities
Purchases of property and equipment	(102,840)	(140,618)
Acquisition of other assets	(20,000)	0
Purchases of mineral rights and properties	(37,883)	(901,203)
Cash used in investing activities	(160,723)	(1,041,821)
Cash flows from financing activities
Issuance of common stock, net of issuance costs	0	351,075
Proceeds from sale of DTRC common stock	0	16,895,534
Proceeds from exercise of stock options	12,000	0
Payments on notes payable - related parties	0	(376,550)
Cash provided by financing activities	12,000	16,870,059
Net change in cash and cash equivalents	(6,359,067)	13,888,011
Cash and cash equivalents, beginning of period	41,401,116	11,444,668
Cash and cash equivalents, end of period	35,042,049	25,332,679
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued for purchase of mineral properties	0	1,119,466
Common stock issued for settlement of notes payable	$ 0	$ 223,259

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Non-Controlling Interest [Member]	Total
Beginning Balance at Mar. 31, 2021	$ 48,699	$ 12,092,157	$ 25,679,461	$ 21,183,613	$ 59,003,930
Beginning Balance (Shares) at Mar. 31, 2021	48,698,602
Common stock issued for cash, net of issuance costs	$ 700	350,375			351,075
Common stock issued for cash, net of issuance costs (Shares)	700,000
Common Stock Issued (Shares)				10,399,500	10,399,500
Cash received for unissued DTRC shares of common stock				6,496,031	6,496,031
Common stock issued for purchase of mineral properties				1,119,467	1,119,467
Common stock issued upon conversion of debt				223,259	223,259
Stock-based compensation expense				10,604,248	10,604,248
Change in non-controlling interest		14,794,682		(14,794,682)
Net loss for the Period			(8,294,677)	(4,548,047)	(12,842,724)
Ending Balance at Jun. 30, 2021	$ 49,399	27,237,214	17,384,784	30,683,389	75,354,786
Ending Balance (Shares) at Jun. 30, 2021	49,398,602
Beginning Balance at Mar. 31, 2022	$ 70,850	100,697,655	13,065,900	0	$ 113,834,405
Beginning Balance (Shares) at Mar. 31, 2022	70,850,395				70,850,395
Common stock issued for restricted stock units	$ 800	(800)
Common stock issued for restricted stock units (Shares)	800,000
Common stock issued for exercise of options	$ 37	11,963			$ 12,000
Common stock issued for exercise of options (Shares)	37,500				37,500
Common stock issued for purchase of mineral properties	$ 307	(307)
Common stock issued for purchase of mineral properties (Shares)	306,749
Stock-based compensation expense		1,922,517			$ 1,922,517
Net loss for the Period			(5,808,725)		(5,808,725)
Ending Balance at Jun. 30, 2022	$ 71,994	$ 102,631,028	$ 7,257,175	$ 0	$ 109,960,197
Ending Balance (Shares) at Jun. 30, 2022	71,994,644				71,994,644

Summary of Accounting Policies

Summary of Accounting Policies	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Accounting Policies [Text Block]	Note 1-Summary of Accounting Policies Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements ("interim financial statements") of Dakota Gold Corp. ("we", "us", "our", the "Company", "Dakota Gold") have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and the rules of the Securities and Exchange Commission ("SEC") for interim statements, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's Annual Report on Form 10-K, for the year ended March 31, 2022, as filed with the SEC on June 28, 2022. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended March 31, 2022, as reported in the Company's Annual Report on Form 10-K, have been omitted. The year-end balance sheet data was derived from the audited financial statements. DTRC Merger Transaction On September 10, 2021, the Company and Dakota Territory Resource Corp. ("DTRC") entered into an Amended and Restated Agreement and Plan of Merger (the "merger agreement") providing for the acquisition of the non-controlling interest of DTRC where the Company would acquire the remaining shares (not previously owned) of DTRC for an equal number of shares of the Company and DTRC would merge into a subsidiary of the Company (the "DTRC Merger" or the "DTRC Transaction"). The DTRC Merger was approved by the stockholders of DTRC at a Special Meeting of Stockholders and closed with an effective date of March 31, 2022. Pursuant to the merger agreement, the DTRC stockholders received one share of Dakota Gold common stock for each share of DTRC's common stock owned at the time of the closing. After closing of the DTRS Merger, the former stockholders of DTRC and the Company owned approximately 49% and 51% of the combined entity respectively. Basis of Consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries at the end of the reporting periods as follows: Incorporation Percentage owned 2022 2021 DTRC LLC USA 100% 63% JR Resources (Canada) Services Corp. Canada 100% 100% Dakota Gold Holdings LLC USA 100% N/A Dakota Gold (Canada) Services Corp. Canada 100% N/A All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation.

Mineral Rights and Properties

Mineral Rights and Properties	3 Months Ended
	Jun. 30, 2022
Mineral Industries Disclosures [Abstract]
Mineral Rights and Properties [Text Block]	Note 2 - Mineral Rights and Properties On September 26, 2012, the Company (via the consolidated DTRC, noted as "DTRC" in the disclosures below) was re-organized with North Homestake Mining Company and acquired the Blind Gold Property located in the Homestake District of South Dakota. In 2018 and 2019, DTRC acquired additional acreage associated with DTRC's City Creek Property and the Tinton Gold Property. In 2020 and 2021, DTRC increased the size of the DTRC's Blind Gold Property, the Tinton Property, the Poorman Anticline Property, the Ragged Top Gold Project, the West Corridor Property, the City Creek Property and added the South Lead/Whistler Gulch Property through a combination of acquisitions and claim staking. On October 26, 2020, the Company completed the purchase of the Maitland Gold Property from Homestake Mining Company of California ("HMCC"), a wholly owned subsidiary of Barrick Gold Corporation ("Barrick"). At closing, DTRC paid Barrick $3.5 million in cash and issued 750,000 shares of DTRC's common stock valued at $1.76 per share, for total consideration of $4.82 million. Additionally, Barrick retained a 2.5% net smelter return royalty on the property. The 2,112 mineral-acre Maitland acquisition is an important component of the Company's exploration and development strategy for the structural corridor that extends from the Homestake Gold Mine to the Company's Blind Gold Property at the northern end of the Homestake District. On September 7, 2021, the Company entered into an option agreement to acquire surface rights and certain facilities in the Homestake District, South Dakota from HMCC. The agreement provides for exclusive access to three extensive historic data sets which chronicle its 145-year exploration and mining history throughout South Dakota. Under the terms of the agreement, DTRC has a three-year option to acquire 4,261 acres of surface rights with attendant facilities and data held by HMCC. In consideration for the option, DTRC made a cash payment of $1.3 million and issued 1 million DTRC common stock valued at $4,850,000 to Barrick and will make annual option payments of $300,000 during the option period. DTRC may exercise the option on or before September 7, 2024, by assuming all of the liabilities and bonds currently held by HMCC in the Homestake District. In addition, on exercise of the option, the Company will issue Barrick 3 million shares of common stock and grant a 2.5% net smelter royalty ("NSR") to Barrick with respect to any gold that may be recovered only from the Grizzly Gulch property. On October 14, 2021, the Company entered into an option agreement to acquire Barrick's interest in the Richmond Hill Property in the Homestake District, South Dakota from LAC Minerals (USA) LLC and HMCC. Under the terms of the agreement, the Company has a three-year option to acquire 2,126 acres of surface and mineral rights with attendant facilities. The Company issued 400,000 DTRC shares of common stock valued at $1,816,000 to Barrick and will make annual option payments of $100,000 during the option period. The Company may exercise the option on or before September 7, 2024, by assuming all the liabilities and bonds associated with the Richmond Hill Property. In addition, on exercise of the option, the Company will issue Barrick an additional 400,000 shares of common stock and grant a 1% NSR to Barrick with respect to any gold that may be recovered from the Richmond Hill Property. In total, the Company currently holds eleven brownfield project areas in the district comprised of 1,905 unpatented mining claims (32,256 unpatented acres), the Homestake Option Area (4,261 patented acres), Barrick's interest in the Richmond Hill Option Area (2,126 patented acres) and additional lands and mineral rights throughout the district (3,201 patented acres) for a combination of surface and mineral lease rights covering a total of 43,971 acres. The Company has not established that any of its projects or properties contain proven or probable mineral reserves under Regulation S-K Subpart 1300 ("S-K 1300"). As of June 30, 2022 and March 31, 2022, the carrying cost of the Company's mineral properties totaled $77,000,841 and $76,962,958, respectively. As of June 30, 2022, the Company is in the exploration stage and has not commenced amortization of its properties. The Company will capitalize certain costs to its projects when the costs can be specifically attributable to a project, or when it is reasonable to allocate those costs. General regional exploration costs are not allocated to specific properties.

Property and Equipment

Property and Equipment	3 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment [Text Block]	Note 3 - Property and Equipment As of June 30, 2022 and March 31, 2022, the Company's property and equipment consists of the following: Estimated June 30, 2022 March 31, 2022 Land $ 70,000 $ 70,000 Building 39 729,230 699,975 Furniture and equipment 3 to 5 699,718 626,133 1,498,948 1,396,108 Less accumulated depreciation (215,314 ) (167,096 ) Property and equipment, net $ 1,283,634 $ 1,229,012 Depreciation expense for the three months ended June 30, 2022 and 2021 was $48,218 and $27,661, respectively.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	3 Months Ended
	Jun. 30, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities [Text Block]	Note 4 - Accounts Payable and Accrued Liabilities As of June 30, 2022 and March 31, 2022, the Company's accounts payable and accrued liabilities consists of the following: June 30, 2022 March 31, 2022 Trade payables $ 2,177,704 $ 2,051,569 Accrued liabilities 341,194 467,965 Other 29,061 17,620 $ 2,547,959 $ 2,537,154

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity [Text Block]	Note 5 - Stockholders' Equity Common Stock The holders of common stock are entitled to one vote per share with respect to all matters required by law to be submitted to stockholders. The holders of common stock have the sole right to vote. The common stock does not have any cumulative voting, pre-emptive, subscription or conversion rights. Election of directors requires the affirmative vote of a plurality of common stock represented at a meeting, and other general stockholder action (other than an amendment to our Articles of Incorporation) requires the affirmative vote of the majority of shares represented at a meeting in which a quorum is represented. The outstanding shares of common stock are validly issued, fully paid and non-assessable. In connection with the domestication process on May 22, 2020, the Company changed its share capital structure from unlimited authorized shares of common stock without par value to 144,302,330 authorized shares of common stock, with a par value of $0.001 per share. Share Issuances during the three months ended June 30, 2022 During the three months ended June 30, 2022, the Company issued (i) 37,500 shares of common stock pursuant to an exercise of stock options for proceeds of $12,000, (ii) 306,749 shares of common stock valued at $1,500,000 (included in additional paid-in capital as at March 31, 2022), for investment in mineral properties and (iii) 800,000 shares of common stock (see "Restricted Stock Units" below) to employees of the Company for the settlement of restricted stock units which vested on June 4, 2022. An additional 350,000 restricted stock units vested on the same date but were not settled as at June 30, 2022. Share Issuances during the three months ended June 30, 2021 During the year ended June 30, 2021, the Company issued 505,050 units at a weighted average price of $1.39 per unit for proceeds of $700,000 through various private placements. Each unit consists of one share of the Company's common stock (505,050 total shares of common stock) and one-half warrant (252,525 total warrants). Each whole warrant entitles the holder thereof to purchase, upon exercise, one share of the Company's common stock for $2.08 per share for a period expiring on March 15, 2026. In connection with the private placements, the Company incurred aggregate expenses of $381,428. DTRC Share Issuances during the three months ended June 30, 2021 On June 23, 2021, DTRC issued 2,311,000 shares of common stock at a price of $4.50 per share of common stock, for gross proceeds of $10,399,500 in connection with the initial tranche of a non-brokered private placement ("Private Placement"). As of June 30, 2021, DTRC had received $6,496,034 in connection with the second tranche of the Private Placement. The related 1,443,563 shares of common stock were in July 2021. During the three months ended June 30, 2021, DTRC also issued (i) 224,005 shares of DTRC common stock valued at $1,119,46 for investment in mineral properties, (ii) 45,563 shares of DTRC common stock valued at $223,259 for a settlement of debt, and (iii) 1,450,000 shares of DTRC common stock valued at $7,177,500 as bonus shares to directors, employees and consultants to DTRC. For the three months ending June 30, 2021, the share-based compensation expense for the bonus shares was allocated $1,361,250 to exploration costs and $5,816,250 to general and administrative expense Stock Options Issued by DTRC Pursuant to the DTRC Merger on March 31, 2022, the Company cancelled DTRCs outstanding stock options and replaced them with options of Dakota Gold Corp. ("DGC") under the "2022 Stock Incentive Plan" with the same terms and provisions. The 2022 Stock Incentive Plan had a total of 6,250,000 common stock purchase options available to award to the Company's directors, executive officers and consultants. As of June 30, 2022, a total of 6,250,000 shares of the Company's common stock remained available for future grants under the 2022 Stock Incentive Plan. Outstanding stock options under the 2022 Stock Incentive Plan have a term of five years. Outstanding stock options granted to third-party service providers generally vest over a period of up to two years. During the three months ended June 30, 2022, the Company did not issue stock options and during the three months ended June 30, 2021, DTRC granted a total of 2,071,250 stock options with a weighted average exercise price of $4.76, exercisable for up to five years. The Company recognized stock-based compensation related to the vesting of stock options totaling $854,344 for the three months ended June 30, 2022, of which $172,438 was allocated to exploration costs and $681,906 and allocated to administrative expenses. For the three months ended June 30, 2021 DTRC recognized stock-based compensation related to the vesting of stock options totaling $3,056,515, of which $501,890 was allocated to exploration costs and $2,554,625 and allocated to administrative expenses. During the three months ended June 30, 2021, DTRC estimated the fair value of each stock option granted to have a weighted average grant date fair value of $3.39 per share using a Black Scholes valuation model. The weighted- average assumptions used to calculate the grant date fair value were as follows: risk-free interest rate ranging from 0.95%, estimated volatility of 90%, dividend yield of 0%, and expected life of 5.0 years. The stock-based compensation expense related to the options has been recognized in the consolidated financial statements since the grant date and the fair value determined at the initial grant date using Black-Scholes will continue to be amortized over the vesting period. The fair value was determined at the grant date based on the market value of the underlying securities. A summary of the Company's stock option activity and related information for the period ended June 30, 2022 is as follows: Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding as of March 31, 2022 3,349,375 $ 4.06 4.12 - Options exercised (37,500 ) 0.32 Outstanding as of June 30, 2022 3,311,875 4.10 3.89 $ 1,141,438 Options exercisable as of March 31, 2022 2,293,333 $ 3.80 3.84 $ 1,141,438 As of June 30, 2022, the unrecognized compensation cost related to unvested options was $1,626,055, which will be expensed through December 2023. Warrants As of June 30, 2022, there were 7,615,718 warrants outstanding, all with an exercise price of $2.08 and expiring on March 15, 2026. Restricted Stock Units ("RSU") The Company recognized stock-based compensation related to the vesting of RSUs totaling $1,068,173 for the three months ended June 30, 2022, of which $164,629 was allocated to exploration costs and $903,544 allocated to administrative expenses. Allocations are based upon the primary activities of the grantees. For the three months ended June 30, 2021 DTRC recognized stock-based compensation related to the vesting of RSUs totaling $370,233, all of which was allocated to administrative expenses. As of June 30, 2022, there was no unrecognized compensation cost related to unvested RSUs. On June 4, 2022, all 1,150,000 RSUs vested and on June 6, 2022, 800,000 RSUs which were settled by the issuance of shares of common stock. As at June 30, 2022, 350,000 vested RSUs have not been settled. Bonus Shares of Common Stock Issued by DTRC during the three months ended June 30, 2021 During the three months ended June 30, 2021, DTRC issued 1,450,000 shares of common stock valued at $7,177,500 as bonus shares to directors, employees and consultants of DTRC, with the stock-based compensation expense for the bonus shares being allocated as $1,237,500 to exploration costs and $5,940,000 to general and administrative expenses.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	Note 6 - Commitments and Contingencies The Company may become party to various legal actions that arise in the ordinary course of its business. The Company is also subject to audit by tax and other authorities for varying periods in various federal, state and local jurisdictions, and disputes may arise during the course of these audits. It is impossible to determine the ultimate liabilities that the Company may incur resulting from any of these lawsuits, claims, proceedings, audits, commitments, contingencies and related matters or the timing of these liabilities, if any. If these matters were to ultimately be resolved unfavorably, it is possible that such an outcome could have a material adverse effect upon the Company's consolidated financial position, results of operations, or liquidity. The Company, does not, however, anticipate such an outcome and it believes the ultimate resolution of these matters will not have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity.

Summary of Accounting Policies

Summary of Accounting Policies (Tables)	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of subsidiaries ownership percentage [Table Text Block]	Incorporation Percentage owned 2022 2021 DTRC LLC USA 100% 63% JR Resources (Canada) Services Corp. Canada 100% 100% Dakota Gold Holdings LLC USA 100% N/A Dakota Gold (Canada) Services Corp. Canada 100% N/A

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment [Table Text Block]	Estimated June 30, 2022 March 31, 2022 Land $ 70,000 $ 70,000 Building 39 729,230 699,975 Furniture and equipment 3 to 5 699,718 626,133 1,498,948 1,396,108 Less accumulated depreciation (215,314 ) (167,096 ) Property and equipment, net $ 1,283,634 $ 1,229,012

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Jun. 30, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of accounts payable and accrued labilities [Table Text Block]	June 30, 2022 March 31, 2022 Trade payables $ 2,177,704 $ 2,051,569 Accrued liabilities 341,194 467,965 Other 29,061 17,620 $ 2,547,959 $ 2,537,154

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of share-based compensation, stock options, activity [Table Text Block]	Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding as of March 31, 2022 3,349,375 $ 4.06 4.12 - Options exercised (37,500 ) 0.32 Outstanding as of June 30, 2022 3,311,875 4.10 3.89 $ 1,141,438 Options exercisable as of March 31, 2022 2,293,333 $ 3.80 3.84 $ 1,141,438

Summary of Accounting Policie_2

Summary of Accounting Policies (Narrative) (Details)	Sep. 10, 2021
DTRC LLC [Member]
Class of Stock [Line Items]
Percentage of outstanding shares of common stock	51%
DTRC LLC [Member]
Class of Stock [Line Items]
Former stockholders of DTRC	49%

Summary of Accounting Policie_3

Summary of Accounting Policies (Schedule of Ownership Percentage) (Details)	Jun. 30, 2022	Sep. 10, 2021	Jun. 30, 2021
DTRC LLC [Member]
Class of Stock [Line Items]
Percentage owned		51%
DTRC LLC [Member] | US [Member]
Class of Stock [Line Items]
Percentage owned	100%		63%
JR Resources (Canada) Services Corp. [Member] | Canada [Member]
Class of Stock [Line Items]
Percentage owned	100%		100%
Dakota Gold Holdings LLC [Member] | US [Member]
Class of Stock [Line Items]
Percentage owned	100%
Dakota Gold (Canada) Services Corp. [Member] | Canada [Member]
Class of Stock [Line Items]
Percentage owned	100%

Mineral Rights and Properties (

Mineral Rights and Properties (Narrative) (Details)			1 Months Ended	3 Months Ended
	Oct. 14, 2021 USD ($) a shares	Sep. 07, 2021 USD ($) a shares	Oct. 26, 2020 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) a	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Area of land | a				43,971
Payment to purchase mineral property				$ 37,883	$ 901,203
Mineral rights and properties				77,000,841		$ 76,962,958
Nine Brownfield Project Areas [Member]
Property, Plant and Equipment [Line Items]
Unpatented claims held				$ 1,905
Area of land | a				32,256
Homestake Gold Mine [Member]
Property, Plant and Equipment [Line Items]
Area of land | a				4,261
Surface Rights And Certain Residual Facilities [Member]
Property, Plant and Equipment [Line Items]
Area of land | a				3,201
Richmond Hill Property [Member]
Property, Plant and Equipment [Line Items]
Area of land | a				2,126
Barrick Gold Corporation [Member] | Maitland Gold Property [Member]
Property, Plant and Equipment [Line Items]
Stock issued during period, value, purchase of assets			$ 3,500,000
Stock issued during period, shares, purchase of assets | shares			750,000
Issued price per share | $ / shares			$ 1.76
Asset acquisition, consideration transferred			$ 4,820,000
Percentage of net smelter return royalty owned			2.50%
Barrick Gold Corporation [Member] | Surface Rights And Certain Residual Facilities [Member]
Property, Plant and Equipment [Line Items]
Area of land | a		4,261
Payment to purchase mineral property		$ 1,300,000
Stock issued during period, value, purchase of assets		$ 4,850,000
Stock issued during period, shares, purchase of assets | shares		1,000,000
Asset acquisition, consideration transferred		$ 300,000
Additional shares to be issued upon exercise of option | shares		3,000,000
Percentage of net smelter return royalty owned		2.50%
Barrick Gold Corporation [Member] | Richmond Hill Property [Member]
Property, Plant and Equipment [Line Items]
Area of land | a	2,126
Stock issued during period, value, purchase of assets	$ 1,816,000
Stock issued during period, shares, purchase of assets | shares	400,000
Asset acquisition, consideration transferred	$ 100,000
Additional shares to be issued upon exercise of option | shares	400,000
Percentage of net smelter return royalty owned	1%

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 48,218	$ 27,661

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,498,948	$ 1,396,108
Less accumulated depreciation	(215,314)	(167,096)
Property and equipment, net	1,283,634	1,229,012
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 70,000	70,000
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	39 years
Property, plant and equipment, gross	$ 729,230	699,975
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 699,718	$ 626,133
Furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	3 years
Furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	5 years

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Schedule of Company's Accounts Payable and Accrued Liabilities) (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Trade payables	$ 2,177,704	$ 2,051,569
Accrued liabilities	341,194	467,965
Other	29,061	17,620
Accounts payable and accrued liabilities	$ 2,547,959	$ 2,537,154

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)		1 Months Ended		3 Months Ended
	Jun. 04, 2022	Jul. 31, 2021	Jun. 23, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized				144,302,330		144,302,330
Common stock, par or stated value per share				$ 0.001		$ 0.001
Common stock issued for cash					$ 10,399,500
Proceeds from sale of common stock				$ 0	16,895,534
Common stock issued for investment in mineral properties					1,119,467
Common stock issued for exercise of options (Shares)				37,500
Common stock issued for exercise of options				$ 12,000
Common stock issued upon conversion of debt					223,259
Issuance of common stock, net of issuance costs				$ 0	$ 351,075
Private Placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued					505,050
Proceeds from units issued					$ 700,000
Number of warrants issued					252,525
Weighted average price of units issued					$ 1.39
Warrants issued, weighted average exercise price					$ 2.08
Units issuance costs					$ 381,428
Exploration Costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					1,361,250
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					$ 5,816,250
DTRC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued for purchase of mineral properties (Shares)					224,005
Common stock issued for investment in mineral properties					$ 111,946
Number of common shares issued in settlement of debt					45,563
Value of common shares issued in settlement of debt					$ 223,259
Number of common shares issued pursuant to RSU plan					1,450,000
Value of common shares issued pursuant to RSU plan					$ 7,177,500
Number of share options granted				2,071,250
Weighted average exercise price of share options granted				$ 4.76
Stock-based compensation expense				$ 854,344	$ 3,056,515
Weighted average grant date fair value of options					$ 3.39
Risk-free interest rate					0.95%
Estimated volatility					90%
Dividend yield					0%
Expected life					5 years
Exercising period				5 years
DTRC [Member] | Initial tranche of a non-brokered private placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock Issued (Shares)		1,443,563	2,311,000
Weighted average price of common stock issued			$ 4.5
Proceeds from sale of common stock			$ 10,399,500		$ 6,496,034
DTRC [Member] | 2022 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock purchase options available for award						6,250,000
Shares remaining available for future grants				6,250,000
Term of options				5 years
Vesting period				2 years
DTRC [Member] | Exploration Costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 172,438	501,890
DTRC [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 681,906	$ 2,554,625
DTRC [Member] | Directors, employees and consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus shares issued to directors, employees and consultants (Shares)					1,450,000
Bonus shares issued to directors, employees and consultants					$ 7,177,500
DTRC [Member] | Directors, employees and consultants [Member] | Exploration Costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					1,237,500
DTRC [Member] | Directors, employees and consultants [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					5,940,000
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants issued, weighted average exercise price				$ 2.08
Unrecognized compensation cost related to unvested options				$ 1,626,055
Number of warrants outstanding				7,615,718
Class of warrants, outstanding expiry date				Mar. 15, 2026
Restricted Stock Units ("RSU") [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted share units vested	1,150,000
Number of restricted stock units settled	800,000
Number of restricted stock units un settled.				350,000
Unrecognized compensation cost to unvested RSUs				$ 0
Number of Restricted stock units issued				350,000
Restricted Stock Units ("RSU") [Member] | Exploration Costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 164,629
Restricted Stock Units ("RSU") [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 903,544
Restricted Stock Units ("RSU") [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued				800,000
Restricted Stock Units ("RSU") [Member] | DTRC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock based compensation restricted stock units				$ 1,068,173	$ 370,233
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued				37,500
Proceeds from units issued				$ 12,000
Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued for investment in mineral properties				(307)
Common stock issued for exercise of options				$ 11,963
Investment In Mineral Properties [Member] | Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued				306,749
Proceeds from units issued				$ 1,500,000

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Stock Option Activity and Related Information) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Options outstanding, beginning of period	3,349,375
Weighted average exercise price at beginning of period	$ 4.06
Number of options exercised	(37,500)
Options exercised, weighted average exercise price	$ 0.32
Number of share options outstanding at end of period	3,311,875	3,349,375
Weighted average exercise price at end of period	$ 4.1	$ 4.06
Options outstanding, weighted average remaining contractual life (in years)	3 years 10 months 20 days	4 years 1 month 13 days
Options outstanding, aggregate intrinsic value, ending balance	$ 1,141,438
Number of options exercisable		2,293,333
Weighted average exercise price of options exercisable		$ 3.8
Options exercisable, weighted average remaining contractual life (in years)		3 years 10 months 2 days
Options exercisable, aggregate intrinsic value, ending balance		$ 1,141,438