BARU GOLD Announces Structural Study
News Release
October 20, 2021 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD ANNOUNCES STRUCTURAL STUDY
Baru Gold Corporation (“Baru” or the “Company”) is pleased to announce the appointment
of Murphy Geological Services (“MGS”) to conduct a structural study for the entire Sangihe
Island Contract of Work (CoW) area. The study is scheduled to be completed before the end
of this calendar year. This effort will involve the acquisition, processing, and interpretation
of Sentinel-2 and Hi-Res (WorldView, GeoEye and Pleiades) satellite imagery to develop a
structural synthesis for the geological occurrence of known gold occurrences, and to establish
a benchmark for future exploration targets. MGS has undertaken more than 225 remote
sensing GIS and/or structural field analysis projects for mineral exploration in a wide range
of tectonic settings across the world, and we look forward to using this technique to further
our gold discovery ambitions.
Mr. Colin J Davies, Independent Director of Baru, adds, “ I have used MGS on numerous
occasions before in Indonesia, Malaysia and Mongolia, and the results are exceptional in
gaining an understanding of the big picture. With this knowledge, you save time in regional
exploration work by focussing on strain anomali es and the areas of structural dilation that
are highlighted in this type of study . Targets are ranked by several parameters using the
known data from the existing project areas as well as the satellite image interpretation, so it
is both accurate and consistent. The object of the exercise is to discover more gold, and this
method will certainly improve our chances in the new year.”
Mr. Terry Filbert, CEO of Baru, adds, “I believe the Company will benefit greatly from this
very cost-effective exploration tool that will provide multiple ranked targets for our ground
teams to follow -up and evaluate at the beginning of next year. Using this approach, MGS
can also provide a high level of detail ar ound the existing deposits, and this will aid our
recently announced drilling program. I look forward to reporting the results in due course.”
On September 14, 2021, the Company announced the commencement of a 25,000 meter
drilling program at the Sangihe Binbase -Bawone. This structural study will further support
the reconnaissance mapping and sampling completed last month. The reconnaissance efforts
identified four new prospects which could become future exploration drilling targets if the
samples taken from these prospects return positive assay results. The Company will use the
latest nonintrusive data gathering and interpretation methods to do the geological survey of
the CoW. Nothing will be disturbed or damaged environmentally or socially.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
Our team on the island has been very busy over the last few months in preparation for con -
current execution of both the construction of two 100,000 tonnes heap leach pads (announced
on October 5, 2021) a nd commencement of the drilling program (announced on September
14, 2021). During the last few weeks, the Company has constructed several drill pads in
anticipation of the drill rig that is currently enroute to the island.
Note: The Company cautions readers that the any production decision made by the Com pany 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.
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 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 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. 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.