(TheNewswire)
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July 31 2025 – TheNewswire - VANCOUVER, B.C. - Baru Gold Corp. (BARU: TSX.V | BARUF: OTCQB) (the “Company” or “Baru”) and its subsidiary PT. Tambang Mas Sangihe (“TMS” or the “Company”), are pleased to update shareholders on a recent open forum held with the Sangihe Islands Regent, Michael Thungari, and his leadership team. The forum was attended by the Baru Gold executive team, including CEO Terrence Filbert.
The meeting focused on the latest developments in the Company’s licensing approval process and the Company’s broader commitment to responsible resource management, local economic development, and social and environmental commitments. Both the Company and Sangihe Regency Government view this forum as an important method to create a space for open communication focused on fostering transparent dialogue.
The Regent, leaders of various Sangihe Regency Government departments and key community representatives and village heads attended in support of the meeting. The Sangihe Regency Government representatives included officials in his administration that a mandate to improve infrastructure, social welfare, environmental protection, economic affairs, revenue and investment, communication, and management of natural resources.
Baru Gold is grateful and deeply appreciative for the opportunity to engage and speak directly with the local government and the community. The Company believes that it is vital that the community is heard and responded to directly in a transparent manner, and to ensure our operations align with local priorities.
The open forum focussed on 1. The Central Government’s Authority over licensing and permitting; 2. Environmental Stewardship & Protection; 3, Local Economic Impact & Social wellbeing of the Sangihe people. Baru fully supports and is committed to upholding these standards and principles.
Central Government Authority
During the meeting, Regent Michael Thungari reaffirmed that the authority to issue mining licenses rests solely with Indonesia’s Central Government. Therefore, the Sangihe Regency completely accepts all licensing processes and decisions made by the authorities in the Central Government.
The open forum heard that Baru has met all conditions necessary to receive approval for Production Operations set and provided by the Central Government. Approval of Production Operations is guaranteed by Indonesian Law, and preparations are underway for operations.
Commitment to Environmental Stewardship & Protection
The Regent emphasised the importance of environmental protection on Sangihe Island.
Environmental protection remains a core pillar of Baru Gold’s operational strategy, and the Company is legally obligated and committed to restore and remediate the land on which it operates.
The Company has a valid environmental permit (AMDAL) and a comprehensive restoration and remediation plan. These plans are reviewed and approved by the Central Government. Once in Production Operations, representatives of the Environmental Department will undertake regular site inspections to ensure the Company complies with the restoration plan.
As evidence of the Company’s legal and environmental commitments, on July 29th, 2025, the Company announced the placement of a bond as a financial guarantee for environmental remediation. If the agreed to reclamation standards set in the remediation plan are not met, then the Central Government may apply to use these funds to manage the land restoration. This is only one part of Baru’s multifaceted environmental protection action plan.
Finally, a core leadership value driving the Company’s vision is environmental conservation and remediation. The Board of Baru Gold includes environmentalist, Dr. Shidan Murphy. Dr. Murphy is an award-winning scientist and author of several papers that focus on bird and fish habitat protection. His scientific work focuses on balancing the requirements of environmental protection with urban development.
The Company’s strong focus on environmental protection stands in stark contrast to the damage caused by past illegal mining operations on Sangihe Island. The open forum heard from individuals concerned how the land damaged from past operations by illegal miners would be remediated. Unsurprisingly, the non-resident illegal miners abandoned their operations without any environmental restoration. The open forum acknowledged that neither the Company nor anyone associated with it participated in the damaging and illegal mining activity on Sangihe Island.
Economic Impact & Social Wellbeing
Regent Michael Thungari also emphasised that the local government is supportive of opportunities to improve the community's welfare through economic growth and development. Baru will positively contribute to improving the economic conditions on Sangihe Island.
After starting operations, Baru will quickly become the largest employer on Sangihe Island. When hiring employees, the Company will provide preferential treatment to Sangihe residents. Sangihe residents will be prioritized for hiring, and will be paid above market rate with health insurance and unemployment protections.
The Company’s operations will also create business opportunities and secondary employment on Sangihe Island. Local businesses and vendors that provide catering, logistics, drivers, supplies, services, and equipment will be prioritized for contracting opportunities.
The Company is already the largest taxpayer on Sangihe Island and, once in operation, the revenues provided to the Regency will expand considerably. Sangihe Island is remote and there still exist multiple villages on the Island that remain unconnected to any electrical grid. Once in production, the resulting funds paid to the Regency will create a multi-generational opportunity for infrastructure improvements and new developments.
In summary, the objectives of the Sangihe Regency Government and the Company are in alignment. Both parties share a focus on maintaining a balance between environmental protection and the economic and social interests of the local community.
Terrence Filbert, CEO of Baru Gold, commented: “I am grateful to Regent Michael Thungari and the Sangihe Regency Government for providing an open forum for dialogue. This kind of engagement is critical to ensuring and communicating that our operations align with both national regulations and local values. We are committed to continue to work hand-in-hand with the local Sangihe government to ensure that all our activities are socially responsible, environmentally sound, and economically beneficial for the local communities and Baru.”
Baru looks forward to the continued collaboration with both central and local authorities, as well as with the communities and individuals on Sangihe Island. Baru will pursue sustainable development that respects nature and uplifts livelihoods.
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. See 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). Only 10% of the gold bearing area has been explored.
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.
On behalf of the Board of Directors
BARU GOLD CORP.
“Terry Filbert”
Terry Filbert
Chairman and Chief Executive Officer
info@barugold.com
604-684-2183
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
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.
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