In most cases, performing a format deletes data.
Having said that - DLink did include a routine that will let you add a second drive to an existing single drive configuration and create a RAID1 array - however - it is known that the DNS-323 will occasionally format the wrong drive (even when not creating a RAID1 array) so this is something you need to approach with caution.
Start by backing your data up
If you insert a new drive into the unit, at the next power up it should prompt you to format the drive, and there will be a check box, which, if ticked, will run a script that creates the RAID1 configuration, and after the drive is formatted, the unit will then sync the array by copying the data across.
Because your drive is already formatted, this option is not available to you - unless you remove the drive and wipe all data and partitions from it.
Now - requests to go from RAID1 to standard volumes are fairly common, but I believe this is the first request I have seen to go from two standard volumes to RAID1 - please be certain that this is what you want, RAID1 is not about backup, it is about disk redundancy - even with RAID1, data loss is possible and you will still need to back your data up.