Barisan Gold Corporation

Barisan Gold Corporation

December 09, 2011 19:38 ET

Barisan Gold Advised of Potential Litigation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2011) - Barisan Gold Corporation (TSX VENTURE:BG) wishes to inform shareholders that it has been advised that PT Linge Mineral Resources ("PTLMR"), PT Gayo Mineral Resources ("PTGMR") and East Asia Minerals Corporation ("EAMC") have been named as defendants and Barisan Gold as a co-defendant in a civil case claim filed by PT Atlas Mineral Exploration ("PTAME") in the Central Jakarta District Court. PTAME is an Indonesian company that owns a 12% direct equity interest in each of PTLMR and PTGMR. Barisan Gold is the majority shareholder of PTLMR and PTGMR with an 80% direct equity interest in each company. PTAME is majority owned by a relative of a previous consultant to EAMC who left EAMC in October 2010.

PTAME approached PTGMR and PTLMR in recent months asking that its 12% equity interest in both companies be acquired. When Barisan Gold and PTAME could not agree on reasonable terms, including a price fair and reasonable to Barisan Gold for the sale of the interests held by PTMAE, PTAME filed this action.

The claim filed by PTAME purports to challenge the asset transfer process by which EAMC transferred its 80% direct equity interest in PTLMR and PTGMR to its wholly owned subsidiary, Barisan Gold. Barisan Gold strongly believes the claims are clearly without merit and intends on defending against this frivolous lawsuit vigorously. The Company has received legal advice confirming that the transfer of PTLMR and PTGMR from EAMC to Barisan Gold was legally executed in accordance with Indonesian law. Barisan Gold, its subsidiaries and EAMC intend to file their own claims and seek the maximum damages from PTAME under Indonesian law in response to this claim.

The defendants and co-defendant have engaged the services of Fredrik J. Pinakunary Law Offices and Bahar & Partners as Indonesian legal counsel with regards to this matter. The first hearing in this case is expected in 2-3 months. We will update shareholders as we receive more detailed information on the matter.

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About Barisan Gold Corporation

Barisan Gold (TSX VENTURE:BG) is a Canadian-based minerals exploration company listed on the TSX Venture Exchange under the symbol "BG". The Company is engaged in the exploration, acquisition and development of mineral properties in Indonesia. Barisan Gold currently owns and operates three gold and gold-copper properties in Indonesia's Aceh Province on the northern tip of Sumatra Island, namely the Barisan gold-copper porphyry belt, the Abong epithermal gold project and the Takengon gold-copper porphyry prospect. Barisan Gold currently has 40,706,186 shares outstanding.

Caution Regarding Forward Looking Statements

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. When used in this News Release, such statements use words such as "may", "will", "expect", "intend", "anticipate" and other similar terms. These statements reflect management's current assumptions and expectations regarding future results, performance or events as of the date hereof 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. Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future or performance results. Accordingly, readers should not place undue reliance on any forward looking statement.

Forward looking statements are based on assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The Company believes that the assumptions and expectations reflected in such forward looking statements are reasonable.

Forward looking statements are also subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information. Those risks include the interpretation of drill results and the estimation of mineral resources and reserves; 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, permitting and licensing risks; and general market and mining exploration risks.

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. 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.

Investment in the common shares of the Company involves substantial risk. Please refer to the Prospectus, in particular, the section with the heading "Risk Factors".

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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