BARU GOLD Corp Provides Update ON Jakarta Lawsuit and Corrects False Information
News Release
January 17, 2023 BARU: TSX.V | BARUF: OTCQB
BARU GOLD CORP PROVIDES UPDATE ON JAKARTA LAWSUIT
AND CORRECTS FALSE INFORMATION
Baru Gold Corp (“Baru” and its subsidiary PT . Tambang Mas Sangihe (“TMS”) or the
“Company”) wishes to update stakeholders and investors on the legal status on its upcoming
gold produc�on project on Sangihe Island in North Sulawesi, Indonesia , and to correct false
informa�on posted online about the status of the Company’s permits and Contract of Work.
The Supreme Court of Indonesia ( the “Court”) has reached a decision on two legal challenges
filed against various government departments. The first lawsuit was filed in Manado,
Indonesia (the “Manado Lawsuit”) against two government departments responsible for the
issuance of the Environmental Permit (“AMDAL”) to the Company. The second lawsuit was
filed in Jakarta against the Ministry of Energy and Mineral Resources of the Republic of
Indonesia (“MEMR”) for the produc�on license upgrade (the “Opera�onal Permit”) issued to
TMS.
As
announced to shareholders on January 9, 2023, the AMDAL lawsuit was decided and was
in favour of the Company. The AMDAL remains valid and the Supreme Court of Indonesia’s
decision is final.
Unfortunately, on January 16th, 2023 t he Company learned that the Court did not decide in
favour of the MEMR for the Opera�onal Permit. The Court has decided that the Opera�onal
Permit be cancelled. The reason for the cancella�on should be released in a f ew days. The
Company intends to reapply for a new Opera�onal Permit from MEMR.
At this point in �me, the Company does not an�cipate a lengthy delay in obtaining the new
Opera�onal Permit, as the Company expects no -to-litle addi�onal work or informa�on
required to reapply. The individuals behind this atempt to impact the Company’s opera�ons
has caused no significant changes to our �meline. Drilling is an�cipated shortly and is not
dependent on the Opera�onal Permit. The reissuance of the Opera�onal Permit is expected
before subsequent constr uc�on and produc�on. The Company remains commited to gold
produc�on in 2023.
The Company wishes to note that individuals opposed to TMS opera�ons have ini�ated a
social media campaign that suggests the loss of the Opera�onal Permit affects the Company’s
Contract of Work and\or AMDAL, and is required to vacate Sangihe Island. These statements
are en�rely incorrect and is yet another example of a patern of false informa�on, by clearly
biased individuals , to undermine the Company’s legal rights . The Company suspects these
individuals are making such claims to panic our shareholders, manipulate uninformed
organiza�ons and individuals, and to exaggerate what is only a minor setback for the Company.
Baru Gold Corpora�on
9th Floor 1021 West Has�ngs St
Vancouver, BC V6C 1L6
www.barugold.com
We unequivocally reiterate, this court ruling has no impact on the Company’s AMDAL and the
Contract of Work, as both are valid and in full force.
Mr. Terry Filbert, CEO of Baru, commented, “ Although regrettable, this is only a small and
i
nconsequential incident and just another example of the questionable opposition to the legal
operation of TMS on Sangihe . I’m obviously still very happy that t he Supreme Court’s final
decision was to reaffirm the validity of the AMDAL . The AMDAL is a requirement for the
issuance of the Operational Permit . With the AMDAL still in full force, it will be fairly
straightforward to address any outstanding concerns and we will simply reapply for a new
Operational Permit. This will get fixed. We are working very closely with MEMR to expedite
the permitting process. For accurate information, please refer to our official press releases and
not a group of individuals that has repeatedly and continues to produce outright lies and false
statements about our operation.”
It should be noted, Sangihe Island has a history of rampant illegal mining that has heavily
polluted the environment, including the dumping of mine tailings into the ocean, reefs, and
mangroves, and the pollu�ng of the river and ocean with mercury. These illegal miners have
had no permits and are largely not residents of Sangihe Island. Further, they have a history
of in�mida�on of the members of the Sangihe community, they pay lower than industry
wages, do not contribute to the local economy, have no regards for staff safety, have
resulted in irreparable environmental damages, and do not pay federal royal�es or taxes.
In contrast, the Company has conducted itself, and will con�nue to conduct itself, in
accordance with all laws, rules, and regula�ons. We do so with the utmost transparency, and
with respect for the local community and for the environment. The Company has published
their Environmental, Social and Governance policies that show how we will make posi�ve
contribu�ons to the health, well-being, and quality of life of Sangihe’s residents, and protect
the environment.
The Company appreciates the ongoing support it receives from the MEMR with whom we are
working closely to rec�fy and obtain a new Opera�onal Permit.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the
northern coast of Sulawesi. Sangihe has an exis�ng N a�onal 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 Es�mates of the Binebase
and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers
are cau�oned that mineral resources that are not mineral reserves do not have demonstrated
economic viability.
The Company intends to proceed to produc�on without the benefit of first establishing
mineral reserves supported by a feasibility study. The Company cau�ons readers that the any
produc�on 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 three Indonesian corpora�ons. The term of the Sangihe CoW agreement is
30 years upon commencement of the produc�on phase of the project.
Baru has met all the requirements of the Indonesian government and ha s been granted its
environmental permit.
ABOUT BARU GOLD CORP .
Baru Gold Corpora�on 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 star�ng and opera�ng small-scale
gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI -KCMI, Chief Geologist of Baru Gold
Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the
content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more informa�on, please contact:
Kevin Shum
Investor Rela�ons
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.