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During the Gold Rush of the late 19th century, brothers Fred and Moses Manuel and their partners, Alex Engh and Hank Harney, staked out an area in the northern Black Hills of what was then considered Dakota Territory (today Lead, South Dakota). On April 9, 1876, they discovered there an outcropping of a vein of ore, and quickly claimed the property theirs, naming it the "Homestake". Soon other miners followed suit, seeing great gold potential, and a town was built around the Homestake.
A year later, three entrepreneurs, George Hearst (father of the famous newspaper tycoon William Randolph Hearst ), Lloyd Tevis, and James Ben Ali Haggin, bought the Homestake from them for $70,000, and founded the Homestake Mining Company. Because of the remote location, mining equipment had to be brought in from Nebraska, but eventually a mill began crushing ore in July 1878. A year later, the three partners sold shares in the Homestake Mining Company, listing it on the New York Stock Exchange (NYSE), which would become one of the longest-listed stocks in the history of the NYSE (NYSE:HM).
During the 1980s and 1990s, Richard Bachman, geologist, president and director of Dakota Territory Resource Corp, managed a team for Homestake Mining Company that was successful in uncovering and expanding new significant gold mineralization areas. While the mining at the Homestake Mine halted in 2002 due to low gold prices and high mining expenses, from 2011-2014, Dakota Territory Resource Corp acquired crucial sample data as well as mineral acres, broadening its property position in the Homestake District in efforts to restart a gold revitalization there similar to what was done two to three decades earlier. In a venture to continue exploration and development of this precious metals site, Dakota Territory Resource Corp breathed new life into this once-profitable gold mining area. They cited a commitment to exploration of gold with sustainable practices.
In 2022 the company merged with JR Resources Corp to form the renamed company Dakota Gold Corp which was listed on the New York stock exchange.