BARU GOLD ANNOUNCES SHARES FOR DEBT TRANSACTION AND CANCELLATION OF PREVIOUSLY ANNOUNCED DEBT SETTLEMENT

Baru Gold Corp.'s board of directors has approved the settlement of up to $137,500 of debt through the issuance of common shares of the company. Pursuant to the debt settlement, the company would issue up to 6,875,000 common shares of the company at a deemed price of two cents per share to certain directors and officers of the company.

The debt settlement is for $137,500 in management and director fees from October, 2022, to May, 2024. The issuance of the common shares to the creditors 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.

Insiders of the company 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 exceeds 25 per cent of the company's market capitalization.

The proposed settlement of $157,500 of debt through the issuance of 7,875,000 common shares as announced on May 24, 2024, is hereby cancelled.

About Baru Gold Corp.

Baru Gold 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 Gold's team boasts extensive experience in starting and operating small-scale gold assets.