Baru Gold Corp V.BARU

PP closed and done...ever onward

[2021Gamble]

News Release
July 4, 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 COMPLETES PRIVATE PLACEMENT
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) announces that it has completed its private
placement for an aggregate of $113,000, issuing 7,533,333 Units announced on June 26, 2024. Each unit will
be comprised of one common share in the capital of the Company (a “Share”) and one non-transferable
common share purchase warrant (a “Warrant”). Each Warrant shall be exercisable for one Share for 2 years
from the date such Warrant is issued at an exercise price of $0.05.
The proceeds raised from the Private Placement will be used for working capital with no payments to Non-
Arm's Length parties and/or investor relations providers. No finder’s fees were paid in connection with this
issue.
An Insider of the Company has participated in the foregoing offering which constitutes a "related party
transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in
Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by
the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's
market capitalization. The Insider has subscribed for an aggregate of 4,333,333 common shares and as a
result the Insider holds more than five percent (5%) on an undiluted basis of the current issued and outstanding
common shares.
The Private Placement is subject to final Exchange approval. All securities issued in the Private Placement
will be subject to a four-month hold period expiring November 4, 2024.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities
have not been registered under the United States Securities Act of 1933, as amended, and may not be offered
or sold in the United States absent registration or an applicable exemption from the registration requirements.
Baru Gold Corp.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
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 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 Deposits, 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 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 three
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, Director
President & CEO
[e-mail]
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
[e-mail]
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.