BARU GOLD Announces Priv Ate Placement
News Release
November 26, 2024 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 PRIV ATE PLACEMENT
Vancouver, BC - Baru Gold Corp (“Baru” and its subsidiary PT. T ambang Mas Sangihe (“TMS”) or the
“Company”) announces to shareholders a non-brokered private placement consisting of up to 7,500,000
units priced at $0.04 per unit for total proceeds of $300,000.
Each unit will comprise one comm on share in the capital of the Company and one non-transferable
common share purchase warrant. Each warrant will entitle the ho lder to purchase over two years one
additional share at an exercise price of $0.06. The financing i s expected to close on or before December
13, 2024.
The use of proceeds of the financing will be used for year end audit fees of $63,000 and land taxes of
$30,000. The balance of the funds received will be used for working capital while the Company completes
the due diligence for the funding of production operations that was announced in the news release of
November 21, 2024, and completes the regulatory process to transfer the shares and options to PT Arsari
Tambang that was announced on the November 18, 2024 news releas e. TMS has already applied to the
Indonesian Ministry of Energy and Mineral Resources to approve PT Arsari Tambang as a shareholder of
the Contract of Work. This is a required and standard procedure. Once approved, the shares of TMS can
be transferred to PT Arsari Tambang and when the transfer is co mplete the Company will update
shareholders.
There are no proposed payments to non-arm’s length parties of the Company and no payments to persons
conducting investor relations activities.
The Company reminds interested pa rticipants that the Private Pl acement is subject to re-pricing if the
stock price increases following the release of news.
Insiders of the Company participation in the foregoing offering constitutes a "related party transaction" as
defined under Multilate ral Instrument 61-101 Protection of Minority Secu rity Holders in Special
Transactions (“MI 61-101”). Such participatio n is exempt from the formal va luation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired
by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's
market capitalization.
Baru Gold Corp
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
The private placement is subject to regulatory approval, and al l securities to be issued pursuant to the
financing are subject to a four-month hold period under applicable Canadian securities laws. All funds are
denominated in Canadian dollars. In connection with the private placement, the company may pay finders'
fees in cash or securities, or a combination of both, as may be 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 requirement.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesi an island of Sangihe, off the northern
coast of Sulawesi. Sangihe has two existing National Instrument 43-101 reports with over 1 million oz of
gold resource identified (inferred mineral resource of 1,022,98 7 and 114,700 indicated ounces of gold),
as reported in the Company's “Independent Technical Report: San gihe Property” (Caracle Creek
International Consulting Inc, September 22nd, 2010) and “Independent Technical Report on the Mineral
Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia”
(Mining Associates Pty Ltd, May 30, 2017).
Readers are cautioned that mineral resources that are not mi neral reserves do not have demonstrated economic
viability. The Company intends to proceed to production w ithout the benefit of first establishing mineral reserves
supported by a feasibility study. The Company cautions readers that the any production decision made by the
Company will not be based on a NI 43-101 feasibility st udy of mineral reserves that demonstrates economic and
technical viability and as such, there may be invol ved increased uncertainty and various technological and
economic risks
The Company's 70-percent interest in the Sangihe-mineral-teneme nt Contract of Work (“CoW”) is held
through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by other
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 requireme nts of the Indonesian government and has been granted its environmental
permit.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with N I 43-101 gold resour ces 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), MA usIMM, MAIG, CPI-KCMI, Chief G eologist of Baru Gold Corp.
is the Qualified Person as defined under NI 43-101 who has revi ewed and approves the content of this
release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
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 differe nt from those expressed or imp lied 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. Re aders 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.