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BARU.V ·

BARU GOLD Corp. Adopts Shareholder Rights Plan

Corporate Actions

News Release

February 5, 2021 Trading Symbol: “TSX.V: BARU | OTCQB: BARUF”

BARU GOLD CORP. ADOPTS SHAREHOLDER RIGHTS PLAN

Vancouver, Canada – Baru Gold Corp (“Baru Gold” or the “Company”) announced that its Board

of Directors has approved a new shareholder rights plan (the “ Plan”) pursuant to a shareholder

rights agreement between the Company and Computer Trust Company of Canada as rights agent ,

effective immediately. The Plan has been adopted to ensur e the fair treatment of all shareholders in

connection with any take -over bid for the Company. The Plan is not being adopted in response to

any specific proposal to acquire control of Baru Gold, nor is the Board of Directors aware of any

pending or threatened take-over bid for Baru Gold.

On the effective date, at the close of business today, one right will be issued and attached to each

common share of the Company outstanding at such time as an applicable event occurs. The rights

will automatically attac h to the common shares of Baru Gold ( the “ Common Shares” ) and no

further action will be required by shareholders. Under the provisions of the Plan, a right will also

automatically attach to each Common Share of Baru Gold issued hereafter.

Subject to the terms of the Plan and to certain exceptions provided therein, the right s will become

exercisable in the event that any person, together with joint actors, acquires or announces its

intention to acquire 20 percen t or more of the Company’s outstanding Common Shares without

complying with the “Permitted Bid” provisions of the Pl an, or in circumstances where the

application of the Plan is waived in accordance with the terms of the Plan.

The Plan has been condit ionally approved by the TSX Venture Exchange , and is subject to the

ratification by the shareholders of the Company within six months of its effective date. The Board

intends to recommend the ratification of the Rights Plan for approval by its shareholders at the

Company’s next annual meeting of shareholders, which will be held prior to December 21 , 2021. If

ratified by shareholders, the Plan wi ll have an initial term of three years. If the Plan is not ratified

by the Company’s shareholders at the annual meeting of shareholders, the Plan and all rights issued

thereunder will terminate and cease to be effective at that time.

ABOUT BARU GOLD CORPORATION

Baru Gold Corporation (formerl y East Asia Minerals) is positioning itself to become Indonesia’s

new gold producer. We are a dynamic junior gold developer wi th NI43- 101 gold resources in

Indonesia, one of the top ten gold producer cou ntries in the world. In 2020, Baru Gold received

approval on the environmental permit and became compliant on all government requirements for

the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance

the project to construction and production in 2021.

Baru Gold Corporation

9th Floor 1021 West Hastings St

Vancouver, BC V6C1L6

www.barugold.com

The Company intends to proceed to production without the benefit of first establishing m ineral

reserves supported by a feasibility s tudy. The Company cautions readers that 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 econom ic 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 e xpectations; commodity

and currency price f luctuation; failure to obtain adequate f inancing; 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.

Our t eam of min ing and finance professionals are based both in North America and l ocally in

Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets.

With sufficient f unds and strong retail and institutional sha reholder support , Baru Gold is well

positioned to take advantage of the increased i nterest in gold and precious metals with both

exploration upsides and operation cashflow in 2021.

BARU GOLD CORPORATION

Per: “Terry Filbert”

Terry Filbert, Director

President & CEO

[email protected]

+1-206-890-8285

For investor contacts more information, please contact:

Kevin Shum

Investor Relations

[email protected]

647-725-3888 ext 702

Neither TSX Venture Exchange nor its Regulation Services Provide r (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 statement s”

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 ar e 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 statements. Th ose risks include the interpretation of dril l resu lts; 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 o ther 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 n ot 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 state ment. 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.