BARU GOLD Commences Sangihe GOLD MINE Construction
News Release
October 5, 2021 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD COMMENCES SANGIHE GOLD MINE CONSTRUCTION
Vancouver, BC - Baru Gold Corp ( “Baru ” or the “Company”) is pleased to announce it has
commenced construction of phase one of the Sangihe gold project.
Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit
overburden removal, preparation of waste dumps, a crushing facility, and a processing plant
area including access roads.
Baru COO Garry Kielenstyn and the Indonesian team are currently on site to supervise the
engineering and contr actor management, oversee site activities an d keep costs in line and
within budget. Construction of the heap leach pad system is targeted to be completed and
operational by December 2021, with first production gold pour in Q1 2022.
The Company, along with its contractors, are currently preparing the principal production
area, grubbing, and establishing pit limits to the plan. The focus will be on digging out
the pregnant solution pond, constructing pond berms, and compacting to engineering
specifications in preparation for installation of the leach p ad liner and the processing
facility.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
Heap leaching is an industrial mineral processing method used to extract precious metals
and other compounds from ore using a series of chemic al reactions that absorb specific
minerals and re-separate them after their division from other earth mate rials. Heap leaching
is the most economical and environmentally efficient method of processing lower grade
mined ore. Heap leaching achieves these processing efficiencies by placing finely crushed
ore on a liner, then adding reagents via drip systems to the ore . As comp ared to
conventional processing methods such as flotation, agitation, or vat leaching, heap leaching
is widely used in modern large -scale mining operations to produce the desired concentrates
at a lower cost for lower grade ores.
Terry Filbert, President, CEO and Direct or of Baru, commented, “ The successful start of
construction of the pit, pads, and pond facilities is a tremendous milestone for our Sangihe
project. Once operations are running smoothly and Sangihe starts generating reliable
cashflow we will invest that c ashflow t o expand the resource through an extended
exploration and drilling program . This will allow us to expand production and the mine’s
life. We will provide further updates on the heap leach operations in the weeks to come.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“ Sangihe”) is located on the Indonesian island of S angihe, 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 Report on the Mineral Res ource 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 demons trated 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.
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 reser ves that demonstrates economic and
technical viability and as such, there may be involved increased uncertaint y 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 expect ations; 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 en gineering, 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 pr oducing countries in the world. Based in Indonesia
and North America, Baru’s team of mining and finance profes sionals boasts extensive
experience in starting and operating small -scale gold and coal assets. With sufficient funds
and strong retail and instit utional 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
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 Ventur e Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Certain statements in this N ews Release, which a re 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, re sults 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 assumpti ons, 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, t echnological
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 ope rating 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 befor e 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.