BARU GOLD Responds to False Allegations and Rumours ON Sangihe GOLD Project
News Release
June 17, 2021 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
BARU GOLD RESPONDS TO FALSE ALLEGATIONS AND
RUMOURS ON SANGIHE GOLD PROJECT
Baru Gold Corp (“Baru ” and its subsidiary PT. T ambang Mas Sangihe (“PT.TMS”) or the
“Company”) wishes to update stakeholders and investors on recent rumo urs and negative media
attention focused against Baru and its upcoming gold production project on Sangihe Island in North
Sulawesi, Indonesia.
In rec ent days , a Non-Government Organization ( “NGO”) has posed several serious allegations
against Baru Gold through prominent media sources including CNN, BBC , and CNBC. These
publications have failed to do their due diligence. The Company has not received any invitations or
opportunity from these publication s to set the record straight and defend itself from the false
accusations alleged against the Company. These allegations include polluting the environment ,
underpaying locals for their land, illegally pushi ng th e Sangihe mining proj ect ahead, and
endangering the habitat of a certain breed of flycatcher bird . Lastly, this NGO has blamed the
Company for t he unfortunate passing of a local politician , who recently opp osed the Sangihe
project. The Co mpany wishes to cla rify th at this person ’s untimely passing was due to natural
causes and condemns these ac cusations. Baru’s staff reached out to the family on the day of his
passing, and the Company wishes to again offer its sincere condolences to Pak Helmud Hotong’s
family, friends, and the community, he will be missed by all on the Island.
The Company denies these unfounded accusations in the strongest possible terms and can confirm
all of allegations that have been ma de are false and have no basis in fact. The Com pany has
conducted itself , and will continue to conduct itself , in accordance with all laws, rule s, and
regulations. Will do so with t he utmost transparency, and with respect for the locals and for the
environment. The Co mpany appreciates the ongoing support it receives from the federal
government and the Mining Minster of Indonesia.
To be clear, and to highlight the misrepre sentations being made, the Sangihe project has not yet
started construction, and therefore it is impossible for the Company to have caused any
environmental damage. It should be noted and to be clear , illegal operations are currently rampant
on the island, and it is these illegal miners who have been heavily polluting the environment ,
including dumping their mine tailings into the oc ean on the reefs, destroying the mangroves, and
polluting the river and ocean with mercury. These illegal miners tend to not be residents of Sangihe
Island. Further, they have a history of intimidating the members of the Sangihe community, they do
not contribute to the local economy, they pay lower than industry wages , and do not pay federal
royalties or taxes. These illegal miners have a vested interest in keeping their operations going and
continue to employ tactics to protect their own interests at the cost of the environment and the well-
being of local residents.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C1L6
www.barugold.com
In contrast, Baru Gold is a law-abiding Canadian company operating in Indonesia with an extensive
team on the ground. Not only is the Company required to meet c ertain obligations to maintain its
listing as a publicly traded company, it strives to implement Environmental, Social and Governance
(ESG) policies that make p ositive contributions to the health, well-being, and quality of life of
Sangihe’s residents, and to protect the environment. The Company will continue to comply with,
and respect, its obligations to meet the high standards required of an international entity operating in
Indonesia.
While the federal government has principally been supporting larger fore ign companies to res tart
new p rojects, Baru has been diligently engaging with locals, providing job opportunities, and
beneficial structures in preparation of Sangihe’s operations. The Company is not aware of any local
residents opposed to the project. In fact, the Company enjoys remarkably strong support from both
the Islanders of Sangihe, who are hoping for a better and safer economic environment, and the local
government that is actively supporting their aspirations.
Baru Gold ’s AMDAL environmental study outlined in detail a meticulous strategy to mi tigate
disturbances to the rare flora and fauna of the island. Additionally, the Contract of Work (CoW),
dead rent tax, and recently gran ted Operati ng License (February 2021) payments have all been
made. As documented in a BBC interview with the Mining Minister of Indonesia, the Company has
the full support of the Federal government.
To date, the Company has hired over 20 principally local employees and contractors, and expects to
provide over 200 high quality jobs also principally from the local community. Hiring and additional
opportunities engage with local bu sinesses continues to be delayed due to the tactics of the illegal
miners.
Terry Filbert, President, CEO and Director of Baru Gold, commented, “These false and misleading
allegations are the desperate attempts of incumbent and related parties (NGO) who have been
known to use intimidation and distractions to delay lawf ul projects such as the Sangihe project.
Baru Gold has the full support of the federal, provincial, and local governments, and the local
residents, who c an anticipate fair wages and over 200 employment opportunities as the Sangihe
operation ramps up. The land size of 100 hectares approved for production is more than enough for
initial start-up. I welcome the NGO or any major media outlet that runs stories about our operation
to contact me direct ly for a formal discussion . We have and will continue to do everyt hing by the
book to ensure a safe and successful partnership with the Indonesian government and the people of
Sangihe.”
ABOUT SANGIHE GOLD PROJECT
The Sang ihe gold- silver proje ct is located on the island of Sangihe off the northern coast of
Sulawesi and has an existing National Instrument 43 -101 inferred mineral r esource 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 th e Binebase and Bawone Deposits, Sangihe Project,
North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been
explored. Readers are cautioned that mineral resou rces that are not min eral reserves do not have
demonstrated economic viability.
The Company's 70 -percent interest in the Sangihe- mineral-tenement contract of wo rk ("CoW") is
held through PT. Tambang Mas Sangihe (TMS). The remaining 30-percent interest in T MS is held
by three I ndonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon
commencement of the production phase of the project.
The Company intends to proceed to production without th e benefit of first establishing mineral
reserves supported by a f easibility study. The Company cautions readers that the any production
decision made by the Company will not be based on a NI 43 -101 feasib ility 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 such as the interpretation of
drill results; the geology, grade and con tinuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent with our expectations; commodity
and cur rency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates,
refinery costs, and other relevant conversion factor s, permitting and licensing risks; general mar ket
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.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesi a’s
new gold producer. We are a dynamic junior gol d developer with NI43 -101 gold resources in
Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received
approval on the environmental permit and became compliant on all government requirements for
the Sangihe Gold Proje ct. Baru has received the approval for the upg rade of its licence t o advance
the project to construction and production in 2021.
Currently, Baru is awaiting final land acq uisition to conclude so construction of the heap leach can
proceed with production expected to commence in 2021.
Our team of mining and finance profess ionals are based both in North America and loc ally in
Indonesia and boast extensive experience in starting and operati ng small-scale gold and coal assets.
With sufficient funds and strong retail and institutional shareholders support, Baru Gold is w ell
positioned to take advantage of the increased interest in gold and precious metals with both
exploration upsides and operation cashflow in 2021.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAI G, Chief Geologist of Baru Gold Corp. is the
Qualified Person as defined under NI 43 -101 who has revi ewed and approves the content of this
release.
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 Ventu re Exchange nor its Regulation Services Provider (as that ter m 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 na ture, 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 s ubject to certain underlying assumptions, known and unknown risks and uncer tainties and other
factors which may cause actual results, perf ormance or events to be materially diff erent 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 exp loration, 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, permitt ing and licensing risks; general market and
mining exploration risks and production and economic risks related to desi gn and engineering, manufacturing,
technological processes and test procedure s 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 applic able s ecurities 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.