BARU GOLD Corp Enters into a Binding Funding Agreement of up to USD$100,000,000
News Release
May 15, 2025 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD CORP ENTERS INTO A BINDING FUNDING AGREEMENT OF UP TO
USD$100,000,000
VANCOUVER, B.C. - Baru Gold Corp. (the “ Company” or “ Baru”) (TSX.V: BARU) is pleased to
announce that it has entered into an arm’s length binding preliminary collaboration agreement (the
“Preliminary Collaboration Agreement”) with Quantum Metal Thailand Co., Ltd. (“QMT”) on May 15,
2025, contemplating the investment of USD$100 million by QMT to enhance the Company’s gold
production and refining capacity of gold up to a purity rate of 99.99%.
The purpose of the Preliminary Collaboration Agreement is to establish an understanding between the
parties for the development of a gold offtake and funding collaboration, including pricing terms and equity
participation by QMT in the Company. Following the execution of the Preliminary Collaboration
Agreement and no later than 60 days from the date of execution, the parties intend to enter into a definitive
collaboration and offtake agreement (the “Definitive Agreement”).
QMT is a next-generation gold e-commerce platform that has established interests in both the supply and
distribution of gold. QMT’s has multiple offtake agreements for gold mines in several countries and is a
major shareholder in an operating gold mine in Malaysia.
QMT’s e-commerce platform specializes in the trading of digital gold and redemption of physical gold bars,
and it is one of the largest distributors of 99.99% gold bars (the “ Refined Gold) in Asia that operates in
over 13 countries across the globe. QMT’s e-commerce gold exchange platform has over 1 million active
members and has built strong partnerships with several reputable financial technology firms and banking
institutions such as Perth Mint Australia, Brinks Singapore Pte Ltd, ABC Bullion (Australia), Wipay
Payment Solutions Limited and Sou Seng Heng Gold Shop.
The Definitive Agreement, over a period of three years from the acceptance date of the Definitive
Agreement by the TSX Venture Exchange, shall facilitate an aggregate investment of up to USD $100
million by QMT (the “ Investment”) in the mining projects of the Company in tranches of not less than
USD $10 million per tranche, where each tranche shall be considered a distinct funding investment (each,
an “Investment Tranche”). QMT shall fund the initial Investment Tranche for an aggregate amount of up
to USD $30 million (the “Initial Investment Tranche”). The proceeds of the Investment shall be used to
enhance the Company’s gold production and refining capacity in its mining projects in Indonesia.
For each Investment Tranche, QMT shall receive equity shares equivalent to 1.5% of the Company’s issued
capital which equity interested shall increase by 1.5% with each Investment Tranche being completed on
the terms of the Definitive Agreement, subject to a maximum holdings interest of no more than 19.0% of
the Company’s issued capital.
Baru Gold Corp.
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
The Company shall repay the Initial Investment Tranche with the Refined Gold equal to the value of the
Initial Investment Tranche at a price ounce of the Refined Gold as quoted on the London Bullion Market
Association (“LMBA”) on the date of such repayment less a 30% discount and each subsequent Investment
Tranche shall be fully repaid with the Refined Gold at the rate of the then current LMBA price per ounce
less a 20% discount.
QMT shall also receive 20% of the Company’s monthly Refined Gold production until the entire Investment
funding is repaid in full over a period of three years commencing on the date of production, subject to the
applicable discount on the repayment of the Initial Investment and the subsequent Investments.
Shareholders should note that the Preliminary Collaboration Agreement constitutes a binding agreement
between the parties and serves as an expression of their mutual intent to proceed with the negotiation and
execution of the Definitive Agreement within a 60 day’s period following the satisfactory due diligence
review of the Company’s financials, operations, permits, and production capacities by QMT. No finder’s
fee is payable.
Mr. Terry Filbert, CEO of Baru Gold, commented, “ Obviously I am thrilled with this agreement. Once
realized, the funding will allow the Company to bring the Sangihe Gold Project into production and start
the planned drill exploration program. The advancement of the Sangihe Project will be good for both
shareholders and residents on Sangihe Island. I’m very happy and acknowledge the strong working
relationship with Quantum Metal Thailand, and look forward to our new partnership.”
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. See 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.
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.