BARU GOLD Files Ni 43-101 Technical Report ON the Sangihe GOLD and Silver Project to Prepare FOR Production Operations
News Release
February 14, 2025 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD FILES NI 43-101 TECHNICAL REPORT ON THE SANGIHE GOLD
AND SILVER PROJECT TO PREPARE FOR PRODUCTION OPERATIONS
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) and its subsidiary PT. Tambang
Mas Sangihe ("PT TMS"), is pleased to announce the filing of a Technical Report and Mineral
Resource Estimate (the "Resource Estimate Report") on the Sangihe Gold and Silver Project
in accordance with the National Instrument 43-101 – Standards of Disclosure in Mineral
Projects.
The Resource Estimate Report was requested by the Company to prepare for production
operations and satisfies a requested due diligence requirement. Since the last Resource
Estimate Report, there has been a large shift in the macroeconomic environment and more than
a doubling of the price of gold. These changes in economics required a redesign of the plan for
production operations.
The Mineral Resource Estimates for the Sangihe Project is reporting on only part of the 65-ha
area targeted for the initial production and is not estimating the resource in the remaining
25,000 ha of gold bearing area. For this approximately 0.15% of the Company’s Contact of
Work area, the Mineral Resource Estimate was completed using a cut-off grade of 0.20 g/t Au
for oxide material and a deposit dependent sulphide cut-off grade of 0.50 g/t at Binebase and
1.0 g/t at Bawone.
Mineral Resource Estimates are as follows:
INDICATED
3.15 Mt at an average grade of 1.12 g/t gold and 19.4 g/t silver containing an estimated 114,000
oz of gold and 1.93 Moz of silver.
INFERRED
2.30 Mt at an average grade of 1.22 g/t gold and 14.5 g/t silver containing an estimated 91,000
oz of gold and 1.08 Moz of silver.
Compared to the “Independent Technical Report on the Mineral Resource Estimates of the
Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia” (Mining
Associates Pty Ltd, May 30, 2017), t he global percentage change in resource categories is
modest:
Table 1: Change in Resource Categories between the 2017 & 2025 Resource Estimate Reports
Category Tonnes (t) Au (g/t) Ag (g/t) Au (oz) Ag (Moz)
Indicated -0.2% -0.6% -1.7% -0.6% -2.0%
Inferred -9% -5% 12% -13% 2.0%
Baru Gold Corp.
9th Floor 1021 West Hastings St
Vancouver, BC V6E 0C3
www.barugold.com
The small reduction in indicated gold ounces reported reflects an optimisation and alteration
of the operational layout.
This is the third NI 43-101 compliant resource estimate produced for this deposit. The current
Resource Estimate Report is suitable for mining planning and production schedules, and this
will replace and supersede all previous NI 43-101 reports.
In this Resource Estimate Report, Mining Associates have recommended an exploration
program with appropriate budget. To date only 7% of the 42,000 ha Sangihe Project area has
been geologically explored.
The Resource Estimate Report has an effective date of January 6, 2025, and was completed by
Mining Associates Pty Ltd, out of Brisbane, Australia at the request of Frank Rocca, Chief
Geologist of Baru Gold Corp. The report titled "Independent Technical Report on the Updated
Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North
Sulawesi, Indonesia” will be filed on the SEDAR+ website at www.sedarplus.ca and posted on
the Company's website.
The scientific and technical data contained in this news release has been reviewed and approved
by Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru
Gold Corp, and is the Qualified Person as defined under NI 43-101 who has reviewed and
approves the content of this release.
Taking into consideration the high price of gold and exploration upside, this reaffirms the
Company’s belief that the Sangihe Gold and Silver Project is an extremely attractive project to
develop. The Company notes that the Resource Estimate Report used USD$2,643/oz for the
price of gold.
The Company has planned a 25,000-metre drilling program once sufficient resources are
secured. The initial area targeted for this drilling program is covered in the Sangihe 2010 NI
43-101 report which identified 835,000 ounces of gold as an inferred resource between
Binebase and Bawone villages over approximately 1.2 kilometers of strike length. An infill
drilling program will be conducted in this area to upgrade some of the inferred resources into
indicated and measured resource status. The Company has prepared 27 drill pad sites which
will be the focus of activity. Thereafter, exploration drilling will continue over an additional
1.45 kilometers from Bawone to South of Salurang village following the continuation of the
known geochemical anomaly and with additional guidance from the ongoing structural study.
Once that program has been completed, the identified resources will then be infill drilled to
bring some of these resources into indicated and measured status. The drilling rig will then be
further deployed for targeted work in the region.
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. Within the area
targeted for initial production, the National Instrument 43-101 report estimates over 219,000
oz of gold resource (Inferred: 105,000 and Indicated: 114,700), and over 3 million oz of silver
resource (Inferred: 1,055,600 and Indicated: 1,972,400) as reported in 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).
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.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Chairman and CEO
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 inc lude 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.