Baru Gold Corp. Advances Production Approval for Sangihe Gold Project

Baru Gold Corp. has announced further progress in its efforts to secure production approval for the Sangihe Gold Project in Indonesia. According to the company, the Ministry of Energy and Mineral Resources (ESDM) has confirmed that the application is complete and no further meetings are required. This development comes after the August 13, 2026, press release indicated that the application was on track for final administrative steps.

The Sangihe Gold Project is situated on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Baru Gold Corp. holds a 70% ownership stake in the project through its subsidiary, PT Tambang Mas Sangihe (TMS). The remaining 30% is held by other Indonesian corporations. The project covers an area of approximately 25,000 hectares, with 65 hectares targeted for initial production. Although only 10% of the gold-bearing area has been explored, the company has an existing National Instrument 43-101 report suitable for mining planning and production schedules.

Baru Gold Corp.'s President and CEO, Terrence Filbert, expressed optimism regarding the project's future. "ESDM has confirmed that our application is complete, and that no further meetings or submissions are required from the Company," Filbert said. "The approval is guaranteed by Indonesian law, and we look forward to positively transforming local employment opportunities and supporting the economy of Sangihe."

While a specific issuance date has not been provided, the company remains in regular communication with ESDM and anticipates receiving approval in October. The focus of the company is now on community socialization and supporting the completion of the issuance process to prepare for the commencement of operations at Sangihe.

The Sangihe Gold Project is one of the key initiatives for Baru Gold Corp., positioning the company as a potential gold producer in Indonesia. The project is expected to generate long-term benefits for the region through taxes, royalties, and community development programs. However, the company has also acknowledged the inherent risks associated with the project, including the lack of a feasibility study based on mineral reserves that demonstrate economic and technical viability.

In the meantime, Baru Gold Corp. is committed to continuing its exploration and development activities at the Sangihe Gold Project, with a view to establishing a sustainable and responsible mining operation that will contribute positively to the local community.