Baru Gold Hits Key Milestone, Enters into Exclusive Negotiations for Funding of Up To USD$100,000,000

Core Viewpoint - Baru Gold Corp. is making significant progress in securing a funding agreement of up to $100 million USD with Quantum Metal Thailand Co., LTD for the Sangihe Gold Project, following a successful private placement raising $1 million CAD [1][2][3]. Funding Agreement - Baru and QMT are exclusively negotiating the funding for the Sangihe Gold Project and are not considering third-party offers [2]. - The $1 million CAD raised is a prerequisite for advancing negotiations towards a definitive agreement, ensuring the company is well-capitalized [3]. - The exclusivity period aims to facilitate focused negotiations and expedite the closing of the funding agreement [3]. Due Diligence and Negotiations - Both parties are currently in a due diligence phase, reviewing the terms of the definitive agreement [4]. - The definitive agreement is expected to be executed within 60 days after satisfactory due diligence on the company's financials and operations [5]. Project Development - The proposed funding will support the near-term development, resource expansion, and construction activities for the Sangihe Gold Project [6]. - The company anticipates that finalizing this transaction will secure long-term capital and unlock value for shareholders [6]. Project Overview - The Sangihe Gold Project is located on the Indonesian island of Sangihe, covering approximately 25,000 hectares, with only 10% of the gold-bearing area explored [7]. - The company holds a 70% interest in the Sangihe mineral tenement Contract of Work, with a 30% interest held by other Indonesian corporations [9].