Vancouver, Canada – Baru Gold Corp. is pleased to report on its corporate social responsibility (CSR) efforts to improve the community on Sangihe Island where the Company’s gold project is located.
The Company is in the early stages of implementing its CSR programs and has identified eight key community development directives:
- EDUCATION which includes scholarships, skills training, educator assistance, and educational facilities and training assistance.
- HEALTH which includes supporting public health, healthcare assistance, and assistance to health facilities and infrastructure.
- ECONOMY in the form of increased income and jobs in the areas of trade, plantation agriculture, livestock, fisheries and entrepreneurship.
- ECONOMIC INDEPENDANCE by increasing the capacity of the community to support economic independence, development of micro, small and medium enterprises (MSMEs), and providing opportunities for MSMEs to participate in business partnerships with the Company.
- SOCIAL AND CULTURAL assistance in the construction of worship facilities and/or infrastructure, relationships with the religious communities, institutional preservation of local customs, culture and wisdom, and when needed, support natural disaster relief.
- Environmental Management
- Institutional formation of society
- Infrastructure Development
In consultation with various community groups, the Company’s CSR and HR teams will develop a five-year blueprint for community development programs.
Over the last three months the Company has undertaken several initiatives towards its CSR program objectives. The initial focus has been to generate public trust in the Company and the companies that have joined us in pre-production operations, as well as support the land acquisition program that will be carried out by the land acquisition team.
The Company, thus far, has been successful in generating a positive economic impact for the villagers.
Recent initiatives guided by the eight key community development directives include:
- Recruiting daily workers to improve the Company's basecamp.
- Purchase of supplies from local suppliers for various camp supplies and consumables.
- Hiring local truck owners to assist in the relocation of the core shed to a more suitable warehouse.
- Contracting a local tailor to produce the 5,200 sample bags required for the drilling program.
- Securing fertilizer supply to assist farmer groups in increasing farming productivity and food supply on island.
Terry Filbert, CEO of Baru Gold, commented, “With Environmental, Social and Governance (ESG) rightfully at the forefront of our industry, Baru Gold strives to uphold the highest standard for the mining industry as we advance Sangihe towards cashflow. By bringing prosperity and benefits to the community that we work in, we show locals mining can and will bring tangible improvements to Indonesia despite challenging times due to COVID-19’s impact on the travel and hospitality industry. This will bolster our operation’s success as we build local and buy local to benefit locals.”
Looking ahead we have undertaken the initial steps for our post-mining rehabilitation programs to ensure we leave the mining area free of negative environmental impacts. The Company has established dialogue with three local farmer groups. These three farmer groups have 48 members, most of whom are mothers. This group of farmers will be planting crops that will be needed once the Company is in the process of land rehabilitation.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 10, 2017 by Ian Taylor MAusIMM(CP) and Anthony James Woodward MAusIMM, MAIG filed on SEDAR. Only 10% of the gold-bearing area has been explored. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held in PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
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 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 such as 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.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
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.