BARU GOLD Commences Drilling at Sangihe While Construction Activities Continue
News Release
December 21, 2021 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD COMMENCES DRILLING AT SANGIHE WHILE CONSTRUCTION
ACTIVITIES CONTINUE
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) is pleased to announce the
arrival of the drill rig on Sangihe Island yesterd ay. The 25,000-metre drilling program
announced in a news release dated September 14, 2021 will commence immediately.
The initial area targeted for this drilling program is covered in the Sangihe 2010 NI 43-101
report which identified 835,000 ounces of gold as an inferred re source between Binebase
and Bawone villages over approximately 1.2 kilometres of strike length. An infill drilling
program will be conducted in this area to upgrade some of the inferred resources into
indicated and measured resource status. Over the past f ew months , the Company has
prepared 27 drill pad sites which will be the focus of activity over the next two months.
Thereafter, exploration drilling will continue over an additional 1.45 kilometres from
Bawone to South of Salurang village following the continuation of the known geochemical
anomaly and with guidance from the ongoing structural study. Once that program has been
completed, the identified resources will then be infill drilled to bring some of these
resources into indicated and measured status . The rig will then be further deployed for
regional target work.
Construction Activities
Construction is currently in progress. Preparation of the laydown area is now 90% complete
and widening of the access bridge to the laydown has been completed. All mobilization
requirements for construction are in place, including security, labour clearing crew, heavy
equipment, fuel, electrical team, and facilities. Catering facilities at camp are operational
and on-site laundry facilities will be running next week.
Land acquisition is on- going with minimal effect on construction. The heavy equipment
on site will be u tilized efficiently and concurrently as required between the drilling and
construction activities. The Company currently employs 79 people on this project and 66
are locals from Sangihe Island.
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 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 "Independent Technical Re port 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 In donesian 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 production in early 2022.
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 engine ering, 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 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asi a
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, 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 ass umptions, 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 adeq uate
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. Rea ders 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-look ing 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.