As a Maple Leafs draft pick who played a full four years in the U.S. college system, Dominic Toninato has a unique opportunity to declare himself a free agent on Aug. 16.

The same route was taken last year by Jimmy Vesey, who was drafted by the Nashville Predators in 2012 but chose to become the master of his own destiny and sign with the New York Rangers.

Toninato, however, wants to be a Maple Leaf.

“I’m waiting to hear from Toronto and we’ll go from there,” says Toninato, chosen 126th overall in 2012 — 60 spots after Vesey.

The problem? The Leafs may not be able to sign him.

With assistant general manager Mark Hunter at the helm, they have done an impressive job of accumulating young talent. The question they face now is determining which of those players deserve NHL entry-level contracts and which ones don’t.

“It’s a unique situation that Toronto’s got going,” says Toninato. “Hopefully we’ll have some answers after the draft (June 23 and 24 in Chicago).”

The Leafs offered Toninato a deal last year, but he declined in order to finish his education. Now the ground has shifted somewhat.

GM Lou Lamoriello didn’t want to talk about Toninato: “Until any decisions have been made, it’s unfair to the player and unfair to the organization.”

The NHL’s collective agreement limits teams to 50 pro contracts (with exceptions for players who remain in junior hockey). Most teams don’t want to be at more than 47 or 48 when the season starts, allowing flexibility for unbalanced trades.

The Leafs, though, are at 50 right now. On July 1, they will be at 37 — maybe 36, depending on the June 21 Vegas expansion draft — with four unrestricted and two restricted free agents to be dealt with. Some young players will inevitably fall through the cracks.

The Leafs have an option, though.

There is no salary cap or roster limit in the American Hockey League, so the Marlies, their minor-league affiliate, can sign some prospects — and offer even more that they would get if they signed an NHL entry-level deal, which caps their AHL pay at $70,000.

It’s the route the wealthy Leafs chose to take this season with Tony Cameranesi — Toninato’s one-time college teammate and a 2011 fifth-round pick — and J.J. Piccinich, the 103rd pick in 2014. The 20-year-old Piccinich, captain of the London Knights last season, signed a two-year AHL deal with the Marlies that starts next season.

There’s risk on both sides.

For the player, he’s not likely to get called up by the Leafs since he doesn’t have an NHL contract.

For the Leafs — depending on any out clauses in the deal — they could lose a player they’ve spent time and money developing.

The situation promises to get stickier.

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The Leafs have five of their nine picks from 2015 under contract, and will need to make calls shortly on forwards Martins Dzierkals and Nikita Korostelev plus defenceman Stephen Desrocher

Meanwhile, just two of last year’s 11 picks have deals, and the junior careers of forwards Vladimir Bobylev, Jack Walker and Adam Brooks are ending.

“The Leafs are in a different situation than they were a year ago,” says Neil Sheehy, Toninato’s agent. “But it’s a good situation to have, when both your NHL and minor-league teams make the playoffs.”

Sheehy says he will talk to the Leafs about Toninato again on July 3, adding the forward is not interested in an AHL deal.

“Dom’s a good player. Will teams be interested? Yes. There will be many teams interested in him,” said Sheehy. “The process right now is working with the Leafs. They hold his rights till Aug. 16. They have a lot of things that they’re trying to figure out.”

Goalie Kasimir Kaskisuo — Toninato’s former teammate at the University of Minnesota-Duluth — said the players in the system know the Leafs’ contract situation is ultimately a numbers game.

“It’s a full team here, and a lot of contracts for the Leafs,” the Marlies goalie said. “There’s a lot to decide for him and for the Leafs and for the Marlies. We’ll see what happens. Hopefully, we’ll end up getting him here.

“He’s a skilled guy, plays with speed and plays with heart. A great all-around player.”

Toninato was captain of the Minnesota-Duluth Bulldogs, who lost the U.S. college hockey final to Denver. Toninato had 16 goals and 13 assists in 42 games.

“I was happy with the season I had and the success we had with the team,” said Toninato. “It’s a huge summer for me, training-wise and trying to get better.

“I’m excited for what the future holds.”