BARU GOLD Completes Second and Final Tranche of Priv Ate Placement
News Release
October 21, 2024 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD COMPLETES SECOND AND FINAL TRANCHE OF PRIV ATE PLACEMENT
Vancouver, BC - Baru Gold Corp (the “ Company” or “Baru”) announces that it has completed its second
and final tranche of its private placement for an aggregate of $56,210, issuing 3,747,333 Units previously
announced on September 16, 2024. The Company has raised a tota l of $109,209.95 and issued 7,280,663
units from both tranches. Each unit will be comprised of one c ommon share in the capital of the Company
(a “Share”) and one non-transferable common share purchase warrant (a “ Warrant”). Each Warrant shall
be exercisable for one Share for 2 years from the date such Warrant is issued at an exercise price of $0.05.
The proceeds raised from the Private Placement will be used for working capital and pre-production expenses
while the Company awaits the issuance of the State of Activity upgrade to Production operation status with
no payments to Non-Arm's Length parties and/or investor relations providers. No finder’s fees were paid in
connection with this issue.
The Private Placement is subject to final Exchange approval. A ll securities issued in the Private Placement
will be subject to a four-month hold period expiring February 16, 2025. The Private Placement is also subject
to final Exchange approval.
This news release shall not constitute 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 unlawful. 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 States absent registration or an applicable exemption from the registration requirements.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesi an island of Sangihe, off the northern coast
of Sulawesi. Sangihe has two existing National Instrument 43-10 1 reports with over 1 million oz of gold
resource identified (inferred mineral resource of 1,022,987 and 114,700 indicated ounces of gold), as reported
in the Company's “Independent T echnical Report: Sangihe Propert y” (September 22nd, 2010) and
“Independent Technical Report on the Mineral Resource Estimate s of the Binebase and Bawone Deposits,
Sangihe Project, North Sulawesi, Indonesia” (May 30, 2017). Rea ders 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 benefi t 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 m ineral reserves that demonstrates economic
and technical viability and as su ch, there may be involved incr eased uncertainty and various technological
and economic risks
The Company's 70-percent interest in the Sangihe-mineral-teneme nt Contract of Work (“CoW”) is held
through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-perce nt interest in TMS is held by other
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
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.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynami c junior gold developer with N I 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
boasts extensive experience in starting and operating small-scale gold assets.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
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 hi storical 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 statemen ts. Those risks include the interpretation of drill results;
the geology, grade and continuity of mineral deposits; the possibility that future explor ation, 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 fa ctors, 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.