Banro Foundation Inaugurates Community Offices At Twangiza, Lugushwa And Namoya

October 15th, 2007

Bukavu, DR Congo — October 15, 2007 — The Banro Foundation, an initiative of Banro Corporation (TSX: BAA, AMEX: BAA) today officially opened its new community office in Twangiza, and will be inaugurating new community offices on October 16 and 17 in Lugushwa and Namoya. The community offices, each staffed by a local Banro Foundation secretary, will be administrative centres for the work of the Banro Foundation in promoting social and economic development.

Among the honoured guests at the today’s opening ceremony were the Governor of South Kivu province, provincial cabinet ministers, members of the provincial parliament, and officials of the Roman Catholic Church and local Protestant Churches. The local Banro Foundation committee in each location, which is comprised of leading members of the community and representation from Banro Corporation, were also among the special guests. The Banro Foundation committees identify and recommend community projects for funding by the Banro Foundation and help oversee the development of such projects.

Dèsire Sangara, Vice-President of Government Relations for Banro Corporation, said at the opening: “We are thrilled to mark this major milestone in the evolution of the Banro Foundation. While the Banro Foundation has to date completed a number of projects, we view today’s opening as the beginning of a vigorous effort to ensure that the communities near Banro’s operations benefit from the development of the region’s mineral deposits.”

The Banro Foundation is a registered charity in the Democratic Republic of the Congo with a mandate to support education, health and infrastructure improvements, as well as provide humanitarian assistance as needed. The Banro Foundation is funded by Banro Corporation.

A number of guiding principles steer the work of the Banro Foundation. The Foundation focuses on needs identified by the local communities and invests in improvements that benefit communities as a whole. Whenever possible, the Foundation employs local labour in its initiatives.

A number of new community initiatives are being launched as part of the inauguration ceremonies:

New projects at Lugushwa include construction of a new medical clinic and the building of a Women’s Centre to be used for the teaching of sewing and other skills. Rehabilitation of the Lugushwa-Tukenga road is also planned.

At Namoya, new projects include rehabilitation of the local medical clinic and construction of the Sarambila Institute secondary school.

Projects proposed by the local Banro Foundation committee at Twangiza include the supply of potable water to the community, construction of three new schools and provision of stationary supplies to local schools.

The Banro Foundation has to date completed several social development projects. Most recently, the Foundation built the Ntiaso bridge and put in place the supply of potable water to a village in Lugushwa. It is also in the process of completing construction of the Kadubo bridge. Meanwhile, local residents in Namoya are finishing repairs to the Roman Catholic Church with building materials supplied by the Banro Foundation. The Foundation also provides writing supplies and desks, built by local carpenters, to primary schools. In the area of health care, it has focused on infrastructure development and distributes beds, blankets, and mosquito netting to medical clinics. Construction of roads and bridges is also an ongoing priorty.

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 Democratic Republic of the Congo (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, or contact: Simon Village, Chairman, United Kingdom, Tel: (44) 870-351-7904, 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.