BARU GOLD Announces $1.5 Million Financing
News Release
January 4, 2023 BARU: TSX.V | BARUF: OTCQB
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
BARU GOLD ANNOUNCES $1.5 MILLION FINANCING
Baru Gold Corp (“ Baru” or the “Company”) is pleased to announce a $1.5 million non-brokered
private placement (the "Private Placement") consist ing of up to 75,000,000 units priced at $0. 02
per unit (the “Unit”). Each unit will be comprised of one common share in the capital of the
Company (a "Share") and one non-transferable common share purchase warrant (a "Warrant").
Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $0.05
for one year and $0.10 for the second year from the date such Warrant is issued. The financing is
expected to close on or before February 15, 2023.
The use of proceeds percentage of the financing will be 15% for land acquisition, 20% for drilling,
7% for security, 3% for investor relations, 23% for payments to non-arm’s length parties and 32%
for working capital.
Note: The Company cautions readers that the any production decision made by the Company will
not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and
technical viability and as such, there may be involved increased uncertainty and various
technological and economic risks such as the interpretation of drill results; the geology, grade and
continuity of mineral deposits; the possibility that future exploration, development or mining
results will not be consistent with our expectations; commodity and currency price fluctuation;
failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant
conversion factors, permitting and licensing risks; general market and mining exploration risks
and production and economic risks related to design and engineering, manufacturing,
technological processes and test procedures and the risk that the project's output will not be salable
at a price that will cover the project's operating and maintenance costs.
The Private Placement is subject to regulatory approval and all securities to be issued pursua nt to
the financing are subject to a four -month hold period under applicable Canadian securities laws.
All funds are denominated in Canadian dollars. I n connection with the Private Placement , the
Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the
policies of the Exchange.
The securities being offered have not been, nor will they be registered under the United States
Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state
registration or an applicable exemption from the U.S. registration requirements. This release does
not constitute an offer for sale of securities in the United States.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the
northern coast of Sulawesi. Sangihe has an existing National Instrument 43- 101 inferred mineral
resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's
"Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone
Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that
mineral resources that are not mineral reserves do not have demonstrated economic viability. The
Company intends to proceed to production without the benefit of first establishing mineral reserves
supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is
held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30- percent interest in TMS is
held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon
commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its
environmental permit. The Company has received approval for the upgrade of its licence to advance
the Sangihe project to construction and production.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43- 101 gold resources in
Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North
America, Baru’s team boasts extensive experience in starting and operating small-scale gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold
Corp. is the Qualified Person as defined under NI 43 -101 who has reviewed and approves the
content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward
looking statements” within the meaning of that phrase under applicable Canadian securities law.
These statements include, but are not limited to, statements or information concerning future work
programs, results and timing of any work programs, the Company’s performance or events as of
the date hereof. These statements reflect management’s current assumptions and expectations and
by their nature are subject to certain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results, performance or events to be
materially different from those expressed or implied by such forward looking statements. Those
risks include the interpretation of drill results; the geology, grade and continuity of mineral
deposits; the possibility that future exploration, development or mining results will not be
consistent with our expectations; commodity and currency pric e fluctuation; failure to obtain
adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion
factors, permitting and licensing risks; general market and mining exploration risks and
production and economic risks related to design and engineering, manufacturing, technological
processes and test procedures and the risk that the project’s output will not be salable at a price
that will cover the project’s operating and maintenance costs. Forward-looking statements should
not b e construed as investment advice. Readers should perform a detailed, independent
investigation and analysis of the Company and are encouraged to seek independent professional
advice before making any investment decision. Accordingly, readers should not place undue
reliance on any forward-looking statement. Except as required by applicable securities laws, the
Company disclaims any obligation to update or revise any forward looking statements to reflect
events or changes in circumstances that occur after the date hereof.