Banro Comments On Correspondence Received From The DRC Minister Of Mines
February 19th, 2008
Toronto, Canada — February 19, 2008 - Banro Corporation (“Banro” or the “Company”) (AMEX - “BAA”; TSX - “BAA”) announces that on February 18, 2007, the Company received a letter from the Honourable Martin Kabwelulu, Minister of Mines for the Democratic Republic of the Congo (the “DRC”). The letter refers to certain surface tax issues and the liquidation of Sominki SARL. There are no issues with Banro’s titles.
The Company is confident that the matters referred to in the correspondence will be clarified with the Ministry of Mines.
Banro is a Canadian-based gold exploration company focused on the development of four major, wholly-owned gold projects along the 210 kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC. Led by a proven management team with extensive gold and African experience, Banro’s strategy is to unlock shareholder value by increasing and developing its significant gold assets in a socially and environmentally responsible manner.
For further information, please visit our website at www.banro.com, or contact: Peter Cowley, President, United Kingdom, Tel: (44) 790-454-0856; Arnold T. Kondrat, Executive Vice-President, Toronto, Ontario, or Martin Jones, Vice-President, Corporate Development, Toronto, Ontario, Tel: (416) 366-2221 or 1-800-714-7938.