BARU GOLD Completes Second and Final Tranche of Priv Ate Placement
News Release
April 25, 2024 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
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 $89, 129, issuing 4,456,450 Units previously
announced on March 13, 2024 and March 26, 2024. The Company has raised a total of $156,129 and issued
7,806,450 units from both tranches. Each unit will be comprise d of one common 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 su ch Warrant is issued at an exercise price of
$0.05.
The proceeds raised from the Pr ivate Placement will be used for legal fees related to the processing of the
upgrade of its Sangihe Gold Project to production operation status and working capital. No finder’s fees were
paid in connection with this issue.
In connection with both tranches, an Insider of the Company has participated in the foregoing offering which
constitutes a "related party transaction" as defined under Mult ilateral Instrument 61-101 Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the
formal valuation and minority s hareholder approval requirements of MI 61-101 as neither the fair market
value of the securities acquired by the insiders, nor the consi deration for the securities paid by such insiders,
exceed 25% of the Company's market capitalization. The Insider has subscribed for an aggregate of 2,000,000
common shares and as a result the Insider holds less than five percent (5%) of the current issued and
outstanding common shares.
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 August 24, 2024.
The Company further announces that it has paid a finder’s fee of $840 in cash commission and granted 42,000
finder warrants equal to 6.0% of the gross subscription proceed s raised in Tranche 1 to one finder in
accordance with the policies of the TSX Venture Exchange. The finder warrants shall be exercisable for one
Share for 2 years from the date such Warrant is issued at an exercise price of $0.05.
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.
Baru Gold Corp
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 Indonesi an 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 Report
on the Mineral Resource Estimates of the Binebase and Bawone De posits, 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 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 mineral reserves that demonstrates economic
and technical viability and as such, 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 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.
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.