The Conversation (0)
(TheNewswire)
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June 3, 2026 TheNewswire - VANCOUVER, B.C. - Baru Gold Corp. (BARU: TSX.V | BARUF: OTCQB) ("Baru" or the "Company") and its subsidiary PT. Tambang Mas Sangihe ("TMS" or the "Company") are pleased to report to shareholders on progress in securing approval to begin production operations.
The Company formally requested the Ministry of Energy and Mineral Resources (ESDM) to grant approval for Production Operations without further delay. The Company highlighted that the absence of lawful mining operations on Sangihe Island has contributed to the growth of illegal mining activities, depriving the Republic of Indonesia of revenue while undermining regulatory oversight and responsible management of its mineral resources.
On May 26, 2026, a meeting was held between Company management and the Director of Mineral Business Development of ESDM to discuss the request and review the application for Production Operations. Also in attendance were representatives of the Legal Section of the Directorate General of Mineral and Coal and representatives of the Legal Bureau of the Ministry of Energy and Mineral Resources.
The meeting went extremely well. ESDM presented their review of the Company's application for Approval to Production Operations. There were no significant issues raised.
On May 29, 2026, the Company received a formal letter from ESDM accurately summarizing the meeting and outlining the requested updates on documents that are necessary to complete the application for Production Operations. The updates are administrative in nature and reflect the transition into a new calendar year.
Specifically, the Company has been asked to provide updated:
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Confirmation of current corporate organizational structure and beneficial ownership;
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Audited financial statements, including the fiscal year ending 2025; and
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Tax compliance certificates for the Company and relevant management personnel.
The Company has made updating and submission of these documents its highest priority. These are standard corporate and personal documents that are easy to obtain.
Mr. Terrence Filbert, CEO and Chairman of Baru Gold commented: "The formal response from ESDM provides the clarity we have been seeking regarding the issuance for Approval to Production Operations. We are pleased that the items are straightforward administrative updates and do not involve any additional tax obligations or material changes to our application. We remain committed to working closely with ESDM to secure final approval as quickly as possible. We look forward to announcing the start of production operations."
ABOUT Baru Gold CORPORATION
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 CORPORATION
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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