BARU GOLD Closes $1 Million First Tranche of Financing
News Release
November 4, 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 CLOSES $1 MILLION FIRST TRANCHE OF FINANCING
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) is pleased to announce that
it has closed $1,002,000.00, issuing 10,020,000 Units in the first tranche of the $1.6
million financing previously announced on October 18, 2021. Each unit will be comprised
of one c ommon sha re in the capital of the Company (a "Share") and one -half common
share purchase warrant (a "Warrant"). Each full Warrant shal l be exercisable into one
Share at an exercise price of $0.17 for 2 years from the date such Warrant is issued. The
private placement (the "Private Placement") consists of up to 16,000,000 units priced at
$0.10 per unit (the “Unit”).
In this tranche, finder’s fees of $29,890.00 are payable in cash on a portion of the private
placement to parties at arm’s length to the Company. In addition, 291,900 non-transferable
finder’s warrants to purchase up to 291,900 Shares are being issued (the “Finder’s
Warrants”), the Finder’s Warrants having the same terms as the Warrants.
All securities issued in the first tranche of the Private Placement will be subject to a four-
month hold period expiring March 5, 2022.
The Private Placement is subject to cert ain conditions including, but not limi ted to, the
receipt of all necessary regulatory approvals, inclu ding acceptance of the T SX Venture
Exchange.
The proceeds raised from th e Private Placement will be used to further the explora tion
program and to provide support for the start-up of production at the Sangihe Gold project,
and for general working capital.
This news release shall not constitu te 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 unlawf ul. 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 State s
absent registration or an applicable exemption from the registration requirements.
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 isla nd 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 Mine ral Resource
Estimates of the Binebase and Bawone Deposits, Sangihe Projec t, North Sulawesi,
Indonesia" (May 30, 2017). Readers are cautioned that mineral r esources that are not
mineral reserves do not have demonstrated economic viability. The Company inte nds 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 Indonesia n 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 governm ent 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.
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 viabil ity and as such, there may be involved increased uncertainty and various
technological and economic r isks such as the interpretation of drill results; the geology, grade
and continuity of mineral deposits; the possibility that future exploration, developme nt or mining
results will not be consistent with our expectations; commodity and currency price fluct uation;
failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other
relevant conversion factors, permitting and licensing r isks; 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 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 boast s 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia
Minerals 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, consti tute “forward looking statements”
within the meaning of that phrase under ap plicable 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 stateme nts reflect management’s current assumptions
and expectations an d by their natur e are s ubject 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 l ooking statements. Those risks include the interpretation of drill results;
the geology, grade and continuity of mine ral deposits; the possibility that future exploration, development or mining
results will not be consistent with our expectations; commodity and currency pr ice flu ctuation; failure to obtain
adequate financing; regulatory, recovery rates, refinery costs, a nd other relevant conversion factors, permitting and
licensing risks; general market and mining exploration risks and production and econom ic risks related to desi gn and
engineering, manufacturing, technological processes and test procedures and the risk t hat the project’s output will not
be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking stat ements should
not be construed as investme nt 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, rea ders should not place un due reliance on an y 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.