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September 8, 2026 TheNewswire - VANCOUVER, B.C. — Baru Gold Corp. (BARU: TSX.V | BARUF: OTCQB) ("Baru" or the "Company"), through its 70%-owned Indonesian subsidiary PT Tambang Mas Sangihe ("TMS" or the "Company"), is pleased to provide an update on the Company's application for approval to commence production operations at the Sangihe Gold Project in Indonesia.
Further to the August 13, 2026 press release, the Company confirms that the Ministry of Energy and Mineral Resources of the Republic of Indonesia ("ESDM") has confirmed to the Company that no further meetings from the Company are required and the application is complete.
The Company has also been notified that ESDM has now progressed to the remaining administrative steps required for issuance of the approval to commence production operations.
While no specific issuance date has been provided, Company management remains in regular communication with ESDM and continues to request and receive updates regarding the status and progress of the approval. The Company anticipates receiving approval in October.
With the regulatory requirements requested by ESDM now completed and no further meetings required, the Company's focus remains on community socialisation, supporting the completion of the issuance process and preparing for the commencement of operations at Sangihe.
Terrence Filbert, President and CEO of Baru Gold, commented "ESDM has confirmed that our application is complete, and that no further meetings or submissions are required from the Company. The approval is guaranteed by Indonesian law.
I look forward to working and supporting the economy of Sangihe and the positive contribution that responsible, regulated and sustainable mining can make to the local community. The commencement of operations by PT Tambang Mas Sangihe will positively transform local employment opportunities, support small businesses, increase economic activity, and generate long-term benefits for the region through taxes, royalties and community development programs."
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 of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. Baru is positioned to become Indonesia's next gold producer.
Baru Gold CORP.
Per: "Terry Filbert"
Terry Filbert, Director
President & CEO
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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