BARU GOLD Corp Annnouces US$35,000,000 Letter of Intent FOR Investment
News Release
February 24, 2025 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD CORP ANNNOUCES US$35,000,000 LETTER OF INTENT FOR
INVESTMENT
VANCOUVER, B.C. - Baru Gold Corp. (the “Company” or “Baru”) is happy to provide an update to
shareholders on the latest progress in securing a strategic partner and investor to bring the Sangihe Project
into production.
The Company has signed a non-binding Letter of Intent with a distinguished family office, located in
Singapore, (the “Investor”) that specializes in developing new opportunities within the mining and real
estate sectors. The Investor currently holds a portfolio of gold mines in various stages of operation within
Indonesia. In addition, they have other investments in leisure, residential, and commercial property
developments in Southeast Asia.
The Investor is proposing to carry out a private placement resulting in the issuance of common shares equal
to 60% of the issued and outstanding equity in the Company after giving effect to the private placement for
USD$35,000,000 (CAD $49,598,000). The payment period and terms are still to be negotiated.
The Company and the Investor will be working through the due diligence process and the drafting of
definitive agreements. The investment will remain subject to approval by both the TSXV and a vote by
Baru shareholders. Although all of the parties involved are committed to seeing this opportunity close as
quickly as possible, investors are cautioned that this Letter of Intent is non-binding until the transaction is
approved and the definitive agreements are signed.
Mr. Terry Filbert, CEO of Baru, commented, “I am thrilled at this opportunity. The Investor has significant
experience operating within Indonesia and both parties are very much looking forward to closing this
investment. I am in full support of the contemplated transaction. This investment opportunity will allow
shareholders to realise the maximum value of the Company’s entire portfolio.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast
of Sulawesi with a gold bearing area of approximately 25,000 ha. Sangihe has an existing National
Instrument 43-101 report suitable for mining planning and production schedules for an area within the 65-
ha area targeted for initial production. Within the area targeted for initial production, the National
Instrument 43-101 report estimates over 200,000 oz of gold resource (Inferred: 91,000 and Indicated:
114,000), and over 3 million oz of silver resource (Inferred: 1,080,000 and Indicated: 1,930,000) as reported
in the Company’s “Independent Technical Report on the Updated Mineral Resource Estimates of the
Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia” (Mining Associates Pty Ltd,
February 1st, 2025). Only 10% of the gold bearing area has been explored.
Baru Gold Corp.
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
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 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
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 other
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 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
boasts extensive experience in starting and operating small-scale gold assets.
On behalf of the Board of Directors
BARU GOLD CORP.
“Terry Filbert”
Terry Filbert
Chairman and Chief Executive Officer
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 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. 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, 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.