BARU GOLD Announces $1.6 Million Financing
News Release
October 18, 2021 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
BARU GOLD ANNOUNCES $1.6 MILLION FINANCING
Baru Gold Corp (“BARU” or the “Company”) is pleased to announce a $1.6 million private
placement (the "Private Placement"). The Private Placement will consist of 16,000,000 units
priced at $0.10 per unit (the “Unit”). Each unit will be comprised of one common share in
the capital of the Company (a "Share") and one -half common share purchase warrant (a
"Warrant"). Each full Warrant shall be exercisable into one Share at an exercise price of
$0.17 for 2 years from the date such Warrant is issued. The financing is expected to close on
or before October 31, 2021.
Mr. Terry Filbert, CEO of Baru, adds, “ The Company currently has sufficient funds to
construct and start production that was announced in the news release of September 12,
2021. Construction will consist of clearing land, building two 100,000 tonnes heap leach
pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a
processing plant area including access roads.
With the start of construction and first pour anticipated in Q1 of 2022, the funds raised from
this private placement will be used to further the exploration program announced in the news
release of September 14, 2021, provide support for the start-up of production, and our team’s
ability to execute both activities concurrently , and general working capital . We are
encouraged by the support of our long- term shareholders who have expressed interest in a
sizable allocation of this financing and encourage interested investors to contact Baru or
your financial advisor for an allocation request.”
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.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
The Private Placement is subject to certain conditions including, but not limited to, the receipt
of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in any state in which such offer, solicitation or sale
would be unlawful. The securities have not been registered under the United States Securities
Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
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 "Inde pendent 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 in late 2021/early 2022.
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 of mining and finance professionals boasts extensive experience
in starting and operating small -scale gold and coal assets. With sufficient funds and strong
retail and institutional shareholder support, Baru is positioned to become Indonesia’s next
gold producer.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, 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 CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
+1-647-725-3888 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 i nclude, 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 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. Forward-looking statements should not be 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. Accor dingly, 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.