BARU GOLD Increases Priv Ate Placement Allotment
News Release
February 13, 2024 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
BARU GOLD INCREASES PRIV ATE PLACEMENT ALLOTMENT
Vancouver, BC - Baru Gold Corp (“Baru” and its subsidiary PT. T ambang Mas Sangihe (“TMS”) or
the “Company”) announces that further to its news releases regarding the non-brokered private placement
dated January 24, 2024, January 31, 2024 and tranche closing on February 6, 2024, the Company is increasing
the offer to up to 15,000,000 units priced at $0.02 per unit fo r total proceeds of $300,000 (the “ Private
Placement”). The funding will be used as follows; up to 50% for legal f ees related to the processing of the
upgrade of its Sangihe Gold Project to production operation sta tus, 30% for audit fees and the balance for
working capital. This offering will expire March 9, 2024. There are no proposed payments to non-arm’s
length parties of the Company and no payments to persons conducting investor relations activities.
The Private Placement is subject to regulatory approval, and al l securities to be issued pursuant to the
financing are subject to a four-month hold period under applica ble Canadian securities laws. All funds are
denominated in Canadian dollars.
The securities being offered have not been, nor will they be, registered under the United States Securities Act
of 1933, as amended, or state securities laws, and may not be o ffered or sold within the United States or to,
or for the account or benefit of, U.S. persons absent U.S. fede ral and state registration or an applicable
exemption from the U.S. registration requirement.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesi an island of Sangihe, off the northern coast
of Sulawesi. Sangihe 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 De posits, Sangihe Project, North Sulawesi,
Indonesia” (May 30, 2017). 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 benefi t 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 m ineral reserves that demonstrates economic
and technical viability and as su ch, there may be involved incr eased uncertainty and various technological
and economic risks.
The Company's 70-percent interest in the Sangihe-mineral-teneme nt Contract of Work (“CoW”) is held
through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-perce nt interest in TMS is held by three
Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the
production phase of the project.
Baru Gold Corp.
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
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 N I 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, Director
President & 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 hi storical 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 statemen ts. Those risks include the interpretation of drill results;
the geology, grade and continuity of mineral deposits; the possibility that future explor ation, 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 fa ctors, 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.