BARU GOLD Corp Appoints Director & Grants Options
News Release
January 31, 2021 Trading Symbol: “TSX.V: BARU | OTCQB: BARUF”
BARU GOLD CORP APPOINTS DIRECTOR
& GRANTS OPTIONS
Vancouver, BC - Baru Gold Corp (“Baru Gold” or “The Company”) is pleased to announce
the appointment of Mr. Joseph Keane to the board of directors.
Mr. Keane has held numerous engineering, technical, and managerial positions in the
mineral industry worldwide, including positions with Chile E xploration Company in Chile,
Molycorp in New Mexico, and Pincock, Allen & Holt. From 1982 to 2005, Mr. Keane was
President and Principal Metallurgical Engineer with KD Engineering Co., specializing in
process design development, equipment selection, and pollution abateme nt for global
clients. Concurrent ly, from 1985 to 2005, he was President of METCON Research ,
supervising numerous mineral beneficiation test programs and pilot plant studies. SGS, a
global analytical and engineering services firm, acquired both KD and ME TCON in 2013,
renaming the combined companies SGS Metcon/KD Engineering.
Notably, Mr. Keane has served as a director of Golden Cycle Gold Corporat ion, Rochester
Resources, Mercator Minerals , and Stingray Copper Corporation. In addition, he was a
consultant to the Mining & Petroleu m Division of IMF (International Finance Corp), the
Mining Foundation (Southwest Mining Hall of Fame), and the World Bank.
Among his many mining operational achievements, Mr. Keane was instrumental in starting
the first semi- autogenous copper sulfide flotation mi ll in the Philippines , doubling the
production capacity of the largest gold mine in the Southeast Asian country. In addition, he
was the project sponsor for China’s largest gold heap le ach mine (30,000 tonnes per day
and 133,000 ounces gold per year) in Inner Mongolia, which was subsequently acquired by
China Gold International, and expanded to 250,000 ounces gold per year with a resource of
over 3 million ounces.
President & CEO of Baru Gold, Mr. Terry Filbert comments, “Joseph brings to Baru Gol d
decades of relevant global experience in heap leach and engineering . His we alth of
knowledge and experience will be shared with our ground team, furthering our efforts to
ensure the start up process at the Sanghie Gold Project goes smoothly.”
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
The Company also announces that it has granted an a ggregate amount of 7,200,000 stock
options to certain officers and directors of the Company in accordance with the provisions
of the Company's stock option plan. The grant of the options is subject to the approval of
the TSX Venture Exchange. Each option entitles the holder to purchase one common share
of the company at an exercise price of $0.11 for a five-year period.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold project is located on the island of Sangihe off the northern coast of Sulawe si and
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 t he Binebase and Bawone Dep osits, Sangihe Project, North
Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bear ing area has been explored.
Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated
economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of
work ("CoW") is held in 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 for 30
years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral
reserves supported by a feasibility study. The Company cautions readers t hat any production
decision made by the Company will not be based on a NI 43- 101 feasibility study of mineral
reserves tha t demons trates economic and technical viability and as such, there may be involved
increased uncertainty and various technological and economic risks such as th e interpretation of
drill results; the geology, grade and continuity of mineral deposits; the possibilit y 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.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s
new gold producer. We are a dyna mic junior gold developer with NI43- 101 gold resources in
Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gol d received
approval on the environmental permit and bec ame compliant on all government requirements for
the Sangihe Gold Project. Baru now awaits the approval for the upgrade of its licence to advance
the project to construction and production in 2021.
Our team of mining and finance professionals are based both in North America and locally in
Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets.
With sufficient funds and strong retail and instituti onal shareholder support, Baru Gold is well
positioned to take advantage of the increased interest in gold and precious metals w ith both
exploration upsides and operation cashflow in 2021.
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 Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements in this News Release, which are not histori cal 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 un certainties and other
factors which may cause actual results, performance or even ts to be materially different from those expressed or implied
by such forward looking statements. Those risks include the interpretation of drill results; the g eology, grade and
continuity of mineral deposits; the possibility that future exploration, devel opment or mining results will not be consistent
with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulator y,
recovery rates, refinery costs, and other relevant conversion factors, permitting and licensi ng risks; general market and
mining exploration risks and production and economic risks related to design and engineering, manufacturing,
technological processes and test proc edures 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 independ ent prof essional advice before making any investment decision. Accordingly, readers should not place
undue reliance on any forward -looking statement. Except as required by app licable 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.