Baru Gold Corp. has approved the settlement in the amount of $163,526.17 of debt through the issuance of common shares of the company. Pursuant to the debt settlement, the company would issue 10,901,745 common shares of the company at a deemed price of 1.5 cents per common share to Shidan Murphy, a director of the company.

The debt settlement is for $163,526.17 in cash advances from Mr. Murphy to the company from November, 2022, to May, 2023.

The issuance of the common shares to the creditor is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four-month hold period, which will expire on the date that is four months and one day from the date of issue.

Insider participation in the foregoing offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). 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 per cent of the company's market capitalization.

About Baru Gold Corp.

Baru is a dynamic junior gold developer with National Instrument 43-101 gold resources in Indonesia, one of the top 10 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.