UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 18, 2021

DAKOTA TERRITORY RESOURCE CORP.
(Exact name of registrant as specified in its charter)

Nevada	000-50191	80-0942566
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

141 Glendale Drive
Lead, South Dakota, United States 57754
(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (605) 717-2450

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 15.0102 ~~Entry~~Departure ~~into~~of aDirectors ~~Material~~or ~~Definitive~~Certain ~~Agreement~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 1418, 2021, ~~Dakota~~the ~~Territory~~board ~~Resource~~of ~~Corp.~~directors ("of Dakota Territory" orResource ~~the~~Corp. ~~"Company") entered into a binding definitive option agreement~~ (the "~~Definitive Agreement") to acquire LAC Minerals (USA) LLC ("LAC") and Homestake Mining~~ Company ~~of California's (~~"~~HMCC" or "Homestake"~~) ~~Richmond~~appointed ~~Hill~~James ~~Property~~Berry inas the Homestake District, South Dakota (the "Richmond Hill Property"). The Definitive Agreement aligns with Dakota Territory's strategic objective to be the premier South Dakota exploration company with the largest land and mineral tenure holdings in the historic Homestake District. HMCC and LAC are whollyVice-~~owned~~President ~~subsidiaries~~ of ~~Barrick~~Exploration ~~Gold~~of ~~Corporation~~the ~~("Barrick")~~Company.

~~Under~~The ~~the~~biography ~~terms~~ of ~~the Definitive Agreement, Dakota Territory has a three-year option to acquire 2,126 acres of surface and mineral rights with attendant facilities held by HMCC and LAC (the "Option")~~Mr. InBerry ~~consideration~~is ~~for~~set ~~the~~forth Option, Dakota Territory has made a cash payment of US$100,000 and issued 400,000 shares of common stock of the Company ("Shares") to Barrick and will make annual Option payments of US$100,000 during the Option period. Dakota Territory may exercise the Option on or before September 7, 2024, by assuming all of the liabilities and bonds currently held by LAC and HMCC for the Richmond Hill Property. In addition, on exercise of the Option, Dakota Territory will issue Barrick 400,000 Shares and grant a 1.0% NSR to Barrick with respect to any gold that may be recovered from the Richmond Hill Property. Upon exercise of the Option, Barrick may own up to 5.55 million shares, representing a potential 7.48% interest in Dakota Territory based on Shares outstanding as of October 14, 2021.below:

~~Under~~Mr. Berry has over 30 years of experience in the ~~Definitive~~mining ~~Agreement~~and exploration industry as an exploration and production geologist working in ~~aggregate~~gold, ~~with~~silver, ~~Dakota~~nickel, ~~Territory~~copper, and platinum-group element commodities for both underground and open pit deposits. He has worked for Asarco LLC, Homestake Mining Company of California, Goldcorp Inc., Barrick Gold Corporation, Romarco Minerals Inc., OceanaGold Corporation, Nickel Creek Platinum Corp. and Hycroft Mining Holding Corporation in increasing roles of responsibility. Highlights of Mr. Berry's ~~other~~career ~~property~~include ~~holdings~~working on the Haile deposit in South Carolina, ~~Dakota~~where ~~Territory~~he ~~will~~developed ~~own~~an orexploration ~~have~~model ~~under~~that ~~lease~~tripled athe ~~total~~size ~~property~~of ~~package~~the deposit and advanced the deposit to production. In addition, while at Homestake he was part of 34an exploration team that identified several Precambrian and Tertiary targets in the Homestake District. These included the North Drift,~~657~~ ~~mineral~~Lower ~~acres~~Main ~~(38~~Ledge,~~918~~ ~~acres~~Upper ~~total)~~7 Ledge, 11 Ledge, 15 Ledge, Tinton, Maitland, and Chism Gulch. Mr. Berry holds a Bachelor's degree in Geology from the ~~immediate~~University ~~Homestake~~of ~~District~~Tennessee and is a Registered Member of the Society for Mining, Metallurgy & Exploration.

~~Item~~The Company entered into an employment agreement with Mr. Berry (the "Employment Agreement"), pursuant to which agreement he will receive an annual base salary of US$200,000 and a grant of certain stock options and restricted share units. Pursuant to the terms and conditions of the Employment Agreement, Mr. Berry will be eligible (i) to receive an annual bonus based upon attaining certain performance criteria set by the board of directors of the Company and (ii) to participate in the Company's securities based compensation plans, with the award of any grants being at the discretion of the board. Pursuant to the terms and conditions of the Employment Agreement, if the Company terminates Mr. Berry without cause, then Mr. Berry will be entitled to receive a lump-sum payment equal to: (i) the then current base fee and pro-rated estimated annual bonus payment for the year of termination earned to the termination date; (ii) payment in lieu of notice in an amount equivalent to: (a) if the Employment Agreement is terminated by the Company 3 months prior to, or within 12 months following, a change in control of the Company: (1) 1.025 ~~Unregistered~~times ~~Sales~~Mr. Berry's then current base annual fee and (2) 1.5 times an annual bonus deemed to be 75% of ~~Equity~~Mr. ~~Securities~~Berry's then current base annual fee; or (b) in any other circumstance: (1) 1.5 times Mr. Berry's then current base annual fee and (2) 1.5 times an annual bonus deemed to be 75% of Mr. Berry's then current base annual fee.

The ~~information~~foregoing indescription ~~Item~~of ~~1.01~~the isEmployment ~~hereby~~Agreement ~~incorporated~~does ~~herein~~not bypurport ~~reference.~~to ~~The~~be ~~400,000~~complete ~~Shares~~and ~~were~~is ~~issued~~qualified ~~and~~in ~~sold~~its inentirety ~~reliance~~by ~~upon~~reference anto ~~exemption~~the ~~from~~full ~~registration~~text ~~contained~~of inthe ~~Section~~Employment 4(Agreement, a~~)(2)~~ copy of ~~the~~which ~~Securities~~will ~~Act~~be offiled ~~1933,~~ as ~~amended.~~an Noexhibit ~~commissions~~to ~~were~~our ~~paid~~next inAnnual ~~connection~~Report ~~herewith~~on Form 10-K.

There are no family relationships between Mr. Berry and any of the Company's directors or other executive officers and Mr. Berry is not a party to any transactions set forth in Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
10.1		Option Agreement for Purchase and Sale of Real Property dated October 14, 2021 between Homestake Mining Company of California, LAC Minerals (USA) LLC and Dakota Territory Resource Corp.
99.1		Press Release, dated October 20, 2021
99.1		Press Release, dated October 14, 2021
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DAKOTA TERRITORY RESOURCE CORP.
	(Registrant)	~~(Registrant)~~
Date: October 18, 2021
Date: October 21, 2021
	By:	"/s/ Shawn Campbell"
		Name: Shawn CampbellTitle: Chief Financial Officer
		Name: Shawn Campbell
		Title: Chief Financial Officer

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