Baru Gold Corp Increases Private Placement Offering

Baru Gold Corp, a junior gold developer with operations in Indonesia, has announced an increase in its private placement offering. The company, which holds a 70% interest in the Sangihe Gold Project, located on the Indonesian island of Sangihe, off the northern coast of Sulawesi, is raising additional capital to support its working capital needs.

On September 18, 2026, the company disclosed that it is increasing the private placement offer to up to 5,643,150 units, priced at $0.06 per unit, for total proceeds of $338,589. This increase from the original offering of $240,000 is due to additional requests to participate in the private placement. Each unit will comprise one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at an exercise price of $0.10 over a two-year period.

The financing is expected to close on or before September 22, 2026. The private placement is subject to regulatory approval, and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The funds raised will be denominated in Canadian dollars. The company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the exchange.

The Sangihe Gold Project covers an area of approximately 25,000 hectares. The project has an existing National Instrument 43-101 report suitable for mining planning and production schedules for an area within the 65-hectare area targeted for initial production. According to the report, within the targeted initial production area, there are estimated over 200,000 ounces of gold resource (Inferred: 91,000 and Indicated: 114,000), and over 3 million ounces of silver resource (Inferred: 1,080,000 and Indicated: 1,930,000). Only 10% of the gold-bearing area has been explored to date.

Baru Gold Corp's President and CEO, Terry Filbert, stated, "We are pleased to increase our private placement offering to meet the strong interest from investors. This additional capital will support our ongoing exploration and development efforts at the Sangihe Gold Project."

The company's 70% interest in the Sangihe-mineral-tenement Contract of Work (CoW) is held through PT. Tambang Mas Sangihe (TMS). The remaining 30% interest in TMS is held by other Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project. Baru has met all the requirements of the Indonesian government and has been granted its environmental permit.