Had the Wild hung onto its 3-1 third-period lead, it would have had a chance to win the prestigious tournament for the third time in franchise history and the first since 2010.
Instead, it concluded round-robin play in the ultra-competitive Ted Lindsay Division with a 2-1-0 record -- the same as division-winning Detroit -- but with one fewer point in the standings. The Red Wings cruised to a 5-0 win over the New York Rangers on Monday, securing three points for a regulation victory.
Minnesota's shootout victory was worth just two.
"It's great to get a win, but it really stinks] having to play in the third-place game, which is not what we wanted," said Wild forward Mason Shaw. "Tough to give up a two-goal lead but we have a resilient group, and it was nice to get the win."
Resiliency has been the word preached endlessly by Iowa Wild coach Tim Army, who is leading the prospects in Traverse City.
The Wild came to Michigan without a first round draft pick on its roster and with just one second rounder, Jordan Greenway, who did not play on Monday and won't on Tuesday as well.
Wild General Manager Paul Fenton said Greenway proved all he needed to in the first two games of the tournament. The big power forward will now get a few days of rest before opening training camp in Minnesota on Friday with a legitimate chance to make the NHL roster.
Dallas has one of the best rosters in the tournament, featuring a pair of first-round draft picks, including defenseman Miro Heiskanen, the third overall pick in the 2017 Draft.
Heiskanen scored goals five minutes apart in the third period on Monday, tying the game at 3 at 11:25 before giving the Stars a 4-3 advantage at 16:41.
With the way Dallas was playing, it looked like that would be enough.
But late in the game, the Stars made one mental error and the Wild capitalized. With the Minnesota net empty, Stars forward Jason Robertson fired a shot at the open cage and missed, resulting in an icing.
Off the ensuing faceoff, Gerry Fitzgerald worked the puck from the left corner to the front of the net where Mattieu Foget jammed the puck past goaltender Colton Point for the tying goal.
After a thrilling 3-on-3 overtime with grade-A chances in both directions, Dmitry Sokolov and Alexander Khovanov each scored in the shootout to secure the win.
Wild goaltender Kaapo Kahkonen was terrific in the victory, making 36 saves and two more in the shootout. In the third period alone, Kahkonen stopped two breakaways and a penalty shot, as the Minnesota netminder was under siege from the time the puck was dropped.
Kahkonen also stopped two breakways in overtime.
"He was outstanding," Army said. "They put a lot of pucks at the net and they had some big bodies and some traffic around the net. They made him work and he worked through the traffic extremely well."
The teams left the first period tied 1-1 following power-play goals by Robertson and Wild defenseman Brennan Menell.
Minnesota had perhaps its best period of the tournament in the second, getting goals from Khovanov and Fitzgerald. Khovanov's one-timer was set up by a beauty of a feed by invitee Zeb Knutson. For Fitzgerald, his five-hole tally came just 22 seconds later, giving the Wild a 3-1 edge.
Fitzgerald finishes round-robin play as the Wild's leading scorer, having tallied two goals and three helpers in three games. Ivan Lodnia had two assists and has four points in the tournament. Fogut, an invitee who didn't play in the opening game against Detroit, finished with a goal and an assist.
More from Traverse City:
- [Greenway begins push for NHL job
- Shaw comes full circle in Traverse City return
- Q&A with Wild Assistant GM Tom Kurvers
- Army ready for another crack as head coach
