BARU GOLD Corp Approves 2021 Budget Approves 35,000 Meters Drilling Program at Sangihe GOLD Project
News Release
March 11, 2021 Trading Symbol: “TSX.V: BARU | OTCQB: BARUF”
BARU GOLD CORP APPROVES 2021 BUDGET
APPROVES 35,000 METERS DRILLING PROGRAM AT SANGIHE GOLD PROJECT
Vancouver, Can ada – Baru Gold Corp. is pleased to announce that its Board of Directors has
approved the 2021 annual budget which includes a 35,000 -metre Resource Development drilling
program targeted to start in mid -2021 and run for 13 months until compl etion. The initial area
targeted for this drilling is covered in the Sangihe 2010 NI 43-101 which identified 835,000 ounces
gold inferred resource between Binebase and Bawone villages over a distance of approximately
1.2 kilometres. An infill drilling prog ram wi ll be conducted in this area to upgrade some of the
inferred resources into indicated and m easured resource status. Exploration drilling will continue
over an additional 1.45 kilometres from Bawone to South of Salurang villages area over which this
anomaly continues. After the initial exploration drilling in this area has been completed, the
identified resources will then be infill drilled to bring some of these resources into indicated and
measured status as well. Full technical details on the Sangih e land package and reports can be
accessed here https://barugold.com/projects/sangihe-gold-project/
Terry Filbert, Chairman and CEO, commented, “This is an extremely exciting year for Ba ru Gol d
with the beginning of construction on the Sangihe Gold mine is imminent. With over 42,000
hectares and an initial past NI 43 -101 resource of 835,000 ounces of gold, this sizable 35,000
meters program will test new high potential t argets and upgrade existing resource to next tier
while Baru advances to cashflow.”
“On operational updates f or the last month, our engineering team has been preparing the project
site on Sangihe Island. The team is in the midst of land acquisition and will soon begin hiri ng
construction staff. The Company expects to commence production in Q2 of 2021, once construction
is complete.”
“Once the project is producing gold, the drilling program will start and will be funded out of
cashflow. This will enable Baru to expand the p roject faster, in addition to extending the mine life
at the same time. We believe this will be a large resource and will positively affect the Company’s
bottom line, with no further dilution to shareholders as the Company will be self-funding.”
The approved budget for the Sangihe Gold Project includes costs for constructing the heap leach
pad, developing the mining pit, the building of roads, supporting infrastructure, and hiring staff
needed to pour its first gold, targeted for Q3 2021. The Company currently has sufficient funds
available to cover all the budgeted and approved expenditures.
Frank Rocca, BAp pSc. (Geolo gy), MAusIMM, MAIG, Chief Geologist of B aru Gold Co rp. is the
Qualified Person as defined under NI 43 -101 who h as reviewed and app roves the content of this
release.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold project is located on the island 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 reported in the Company's "Independent Technical Report on
the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North
Sulawesi, Indon esia" dated May 10, 2017 by Ian Taylor MAusIMM(CP) and Anthony J ames
Woodward MAusIMM, MAIG filed on SEDAR. Only 10% of the gold -bearing area has been
explored. 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.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is po sitioning itself to become Indonesia’s
new gold producer. We are a dynamic junior gold developer with NI43 -101 gold resources in
Indonesia, one of the top ten gold producer countries in the wo rld. 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.
The Company intends to proceed to product ion without the benefit of first establishing mineral
reserves supported by a feasibility study. 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 demon strates economic and technical viability and as such, there may be involved
increased uncertainty and various technological and economic risks such as the interpretation of
drill results; the geology, grade and continuity of mineral deposits; the possibili ty that future
exploration, development or mining results will not be consistent with our expectations;
commodity and currency price fluctuation; failure to obtain adequate financing; regulato ry,
recovery rates, refinery costs, and other relevant conversio n factors, permitting and licensing risks;
general market and mining exploration risks and production and economic risks related to design
and engineering, manufacturing, technological process es and test procedures and the risk that the
project’s output wi ll not be salable at a price that will cover the project’s operating and
maintenance costs.
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 smal l-scale gold and coal
assets. With sufficient funds and strong retail and institutional shareholder support, Baru Gold is
well positioned to take advantage of the increased interest in gold an d precious metals with 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 th at term is defined in the
policies of the TSX Venture Exchange) accepts re sponsibility for the adequacy or accuracy of this
release.
Certain statements in this News Release, which are not historical in nature, constitute “forward
looking statements” withi n 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 assu mptions 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 futu re 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 sa lable at a price
that will cover the project’s operating and maintenance c osts. Forward-looking statements should
not be construed as investment advice. Readers should perform a detailed, independent
investigation and analysis of the Company and are encour aged 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 obligatio n to update or revise any forward looking statements to reflect
events or changes in circumstances that occur after the date hereof.