BARU GOLD Appoints MINE Manager/Ktt (MINE Technical Manager)
News Release
December 16, 2020 Trading Symbol: “BARU: TSX.V | BARUF:US”
BARU GOLD APPOINTS MINE MANAGER/KTT (MINE TECHNICAL MANAGER)
Baru Gold Corporation (TSX. BARU) is pleased to announce the recent appointment of Mr
Fatchil Amal as Mine Manager/Kepala Teknik Tambang (Mine Technical Manager).
For more than 28 years Mr. Amal has had senior technical and management roles in coal, gold
and copper mining , and mine infrastructure construction operations throughout Indonesia . He
has projects including Indo Muro Kenc ana, Batutua Tembaga Raya, Nusa Halmahera Mineral ,
and Nuansa Cipta Coal Investment . His role as Mine Manager at the Wetar copper leaching
project whose island location and remoteness is very similar to the Sangihe Project.
Mr. Amal appointment as the Kepala Teknik Tambang ( KTT/Mine Technical Manager) has
also been approved by the Ministry of Energy and Mineral Resources (MoEMR) for the
Sangihe gold project. This is a statutory position required by all mine operations whether in the
exploration or production stage . The duties of the KTT are to ensure compliance with all
legislation related to safety, health, environmental impact, and conservation of mineral
resources. The KTT is also responsible for regular reporting of activities and operations to the
MoEMR. Mr. Amal has previously been KTT on a number of other mining projects.
Baru Gold CEO, Mr Terry Filbert, commented, “We welcome Mr. Amal to our team and
congratulate him on being approved as our KTT for the Sangihe project. His experience in both
mining and infrastructure construction in remote locations will ensure our project is delivered
as efficiently and safely as possible. This i s another step the Company has taken to position
itself to be able to immediately start construct ion once the production licence upgrade is
received.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold- silver project is located on the island of Sangihe off the northern coast of
Sulawesi and has an existing Na tional 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 Bawo ne Deposits,
Sangihe Project, N orth Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold
bearing area has been explored. Readers are cautioned that mineral resources that are not
mineral reserves do not have demonstrated economic viability. 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 for 30 years upon
commencement of the production phase of the project.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
The Company intends to proceed to production without 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 study of
mineral reserves that demonstrates economic and technical viability and as such, there may be
involved increased uncertainty and various technological and economic ris ks such as t he
interpretation o f 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 fluctua tion; failur e to obtain adequat e
financing; regul atory, 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 a nd engineering, manufacturing, technological proc esses 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 BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals ) is building Indonesia’s new gold
producer. We are a dynamic junior gold developer with NI43- 101 gold resources in Indonesia,
a top 10 gold producer countries in the world. In Q3 2019, Baru Gold has completed milestone
AMDAL environmental permit and paid dead-rent tax on its Sangihe Gold open pit heap leach
operation and is awaiting Operation License to advance the project to construction and
production in 2021.
Our team of m ining and finance professionals are based both in North Amer ica and locally in
Indonesia and boas t extensive experience in starting and operating small -scale gold and coal
assets. With over $5.5 million in cash and strong retail and institutional shareholders support,
Baru Gold is well positioned to take advantage of the increased in terest in gold and precious
metals with both exploration upsides and operation cashflow in 2021.
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
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 Ex change) 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 event s to be mater ially different from those expressed or implied by such forward lo oking
statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; t he
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 relev ant
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 s hould 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 l ooking statements to reflect events or
changes in circumstances that occur after the date hereof.