Mr. Terry Filbert reports

BARU GOLD COMPLETES CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Baru Gold Corp. has closed $119,500, issuing 5,975,000 units previously announced on Jan. 24, 2024, and Feb. 1, 2024. Each unit will be composed of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant shall be exercisable for one share for two years from the date such warrant is issued at an exercise price of five cents.

The proceeds raised from the private placement will be used for legal fees related to the processing of the upgrade of its Sangihe gold project to production operation status. No finders' fees were paid in connection with this issue.

All securities issued in the private placement will be subject to a four-month hold period expiring June 3, 2024.

About Sangihe gold project

The Sangihe gold project is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe 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" (May 30, 2017). 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 any production decision made by the company will not be based on a National Instrument 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-per-cent interest in the Sangihe-mineral-tenement contract of work is held through PT Tambang Mas Sangihe. The remaining 30-per-cent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.

Baru Gold has met all the requirements of the Indonesian government and has been granted its environmental permit.

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.

We seek Safe Harbor.