BARU GOLD Corp Appoints New Director Colin James Davies to Board, Broadens Technical and Indonesian Team
News Release
August 18, 2021 Trading Symbol: “TSX.V: BARU | OTCQB: BARUF”
BARU GOLD CORP APPOINTS NEW DIRECTOR COLIN JAMES DAVIES TO
BOARD, BROADENS TECHNICAL AND INDONESIAN TEAM
Vancouver, BC - Baru Gold Corp (“Baru Gold” or t he “Company”) is pleased to announce the
appointment of Mr. Colin James Davies to the board of directors.
Mr. Davies is a senior mining executive with broad- based international experience in business
development, corporate acquisitions , strategic and business planning, general management,
knowledge databases, information technology, budgeting, and commodities. He has a successful
track record in negotiating joint ventures with his technical background, IPO capital r aising and
investment analysis globally.
As a structural geologist by education with almost 40 years of work experience in minerals
exploration, of which 30 years have been aggregated in Indonesia , Mr. Davies is well versed in
Baru Gold’s projects. He holds a BSc (honours) in Geology from University College Cardiff, UK
and completed three years of post -graduate research in Namibian structural geology at Leeds
University, UK.
His career started at Anglo American as a gold mine geologist in South Africa at Vaal Reefs
working on brownfield exploration. His travels would take him across the world with BP
Minerals for diamonds, and ultimately to Jakarta, Indonesia where he would spend nearly 30
years mainly in gold exploration. Early formative roles with Santa Fe Gold and the Pelsart Group
led into senior management positions with global mining contractors before culminating with
eight years at the J Resources Group, a US$300 million market capitalization mid -cap 150,000oz
per annum gold producer, where he was both their Independent Director and held various senior
executive roles during his tenure.
Most recently, Mr. Davies established GeoToria Holdings Limited as an independent think- tank
to provide knowledge -based services for peer -to-peer corporate advisory, consultancy,
benchmarking, due diligence, investment targeting, and contract research and development with
the us e of empirically built da tabase sets, custom designed for each client and their specific
requirements to make informed decisions having added 25,000 proje cts and 2,500 companies to
his proprietary M&A database. He also founded and is a director of Triquetra Resources Limited,
a London-based group that identifies orphaned projects and matches their development programs
with mining and exploration investors.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
Mr. Terry Filbert , President and CEO of Baru Gold, commented, “ Colin brings to Baru Gold
decades of geological experience in Indonesia as his whole professional life has been associated
with discovery, both greenfield (from the first holes in the ground) and brownfield (building
inventory near a mine resource) . More specifically, he has a wealth of knowledge in the North
Sulawesi geological and political arenas and his experience will be valuable to ensure success
and efficiencies in near tern production and future exploration at our Sanghie Gold Project.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold project is located on the islan d of Sangihe off the northern coast of Sulawesi
and has an existing National Instrument 43- 101 inferred mineral resource of 114,700 indicated
and 105,000 inferred ounces of gold as repor ted i n the Company's "Independent Techni cal
Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe
Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has
been explored. Readers are cauti oned 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 through PT. Tambang Mas Sangihe (TMS). The remaining 30- percent interest in TMS is
held by three Indonesian corporations. T he term of the Sangihe CoW agreement is for 30 years
upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s
new gold producer. W e are a dynamic junior gol d developer with NI43- 101 gold resources in
Indonesia, one of the top ten gold producer countries in the w orld. In 2020, Baru Gold received
approval on the environmental permit and became compliant on all government requirements for
the Sangihe Gold Proje ct. Baru has received the approval for the upgrade of its licence to
advance the project to construction and production in 2021.
Currently, Baru is awaiting final l and acquisition to conclude so construct ion of the heap leach
can proceed with production expected to commence in 2021. The Company intends to proceed to
production without the benefit of first est ablishing mineral reserves supported by a feasibility
study. The Company cautions readers that the any production decision m ade by the Company
will no t be based on a NI 43- 101 feasibility study of mineral reserves that demonstrates
economic and technical v iability and as such, there may be involved increased uncer tainty and
various technological and economic risks such as the i nterpretation of drill results; the geology,
grade and continuity of mineral deposits; the possibility that future exploration, deve lopment or
mining results will not be consistent with our e xpectations; commodity and currency pric e
fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and
other relevant conversion factors, permitting and licens ing 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 team of mining and finance profess ionals are based both in North America and locally in
Indonesia and boast extensive experience in starting and operating small -scale gold and coal
assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is
well positioned to take advantage of the increased interest in gold and precious metals with both
exploration upsides and operation cashflow in 2021.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the
Qualified Person as defined unde r NI 43-101 who has reviewed and approves the content of this
release.
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 Provi der (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 n ot historical in nature, constitute “forward looking stateme nts” 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, r esults and timing of any work programs, the Company’s performance or events
as of the date hereof. T hese 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 t o be materially different from those expressed or implied by such forward looking statements.
Those risks include t he interpretation of drill results; the g eology, grade and continuity of mineral deposits; the possibility that
future exploration, developme nt or mining results will not be consistent with our expectations; commodity and currency price
fluctuation; failur e to obtain adequate financing; regulator y, re covery rates, refinery costs, and o ther relevant conversion
factors, permitting and licensing r isks; 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 det ailed, 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.