Banro Increases Measured And Indicated Resources At Twangiza By 49% To 3.00 Million Ounces Of Gold

January 31st, 2007

Toronto, Canada — January 31, 2007 - Banro Corporation (“Banro” or the “Company”) (AMEX - “BAA”; TSX - “BAA”) is pleased to announce the following updated mineral resource estimates at its wholly-owned Twangiza project in the Democratic Republic of the Congo (the “DRC”).

• Measured and Indicated Mineral Resource estimates have increased by 49% to 3.008 million ounces of gold (39.229 million tonnes grading 2.39 g/t Au)
• Inferred Mineral Resources now stand at 2.633 million ounces of gold (43.104 million tonnes grading 1.90 g/t Au)

This significant increase in the Measured and Indicated Mineral Resources at Twangiza results from additional core drilling of 10,616.2 metres (38 drill holes) which has been completed since the previous Twangiza mineral resource determination announced on September 28, 2006 (see the Company’s press release dated September 28, 2006).

Table I below summarizes the current Mineral Resource estimates for the Main Twangiza Deposit, as of January 31, 2007.
Table I 		      (Using a 1.0 g/t Au cut-off)
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Mineral                                  Au  
Resource Category         Tonnes        (g/t)     Ounces
---------------------------------------------------------
Measured                 9,926,000      2.99      955,000
Indicated               29,303,000      2.18    2,053,000
Measured & Indicated    39,229,000      2.39    3,008,000
---------------------------------------------------------
Inferred*               43,104,000      1.90    2,633,000
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Ounces and tonnes rounded to the nearest ‘000.
* Includes an Inferred Resource of 132,000 ounces of gold (985,000 tonnes grading 4.16 g/t Au) of “Valley Fill” oxide material from previous artisanal activity associated with the Main Twangiza deposit.

Table II below summarises the Mineral Resource estimates at Twangiza in terms of oxide, transitional and fresh rock (sulphide) categories.
Table II				(Using a 1.0 g/t Au cut-off)
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  Material |    Measured & Indicated     |          Inferred        
    Type   |            Au               |             Au           
           |  Tonnes   (g/t)    Ounces   |   Tonnes   (g/t) Ounces  
--------------------------------------------------------------------
Oxide        13,327,000  2.70  1,156,000   3,266,000  2.66   279,000
Transitional 25,902,000  2.22  1,852,000   9,134,000  1.90   557,000
Sulphide                                  30,704,000  1.82 1,797,000
--------------------------------------------------------------------
Total        39,229,000  2.39  3,008,000  43,104,000  1.90 2,633,000
--------------------------------------------------------------------
Ounces and tonnes rounded to the nearest '000. 
The Mineral Resources at Twangiza have been determined to vertical depths varying from 160 metres below surface in the north end of the deposit to 430 metres in the south, following the plunge of the mineralization.

The Mineral Resources were calculated from the current and previous core drilling programs as well as previous adit information. Gold grades in the Measured and Indicated Resource categories have been determined using ordinary kriging interpolation algorithm into a 3-Dimensional block model constrained by mineralization wireframes. Gold grades in the Inferred Resource category have been determined using the weighted inverse distance squared method. The mineralization models were constrained within the wireframe with primary block dimensions of 20 metres along the strike and cross structure directions, and 10 metres in the vertical direction. Higher-grade values in the oxide and transitional material have been statistically capped to 30 g/t Au, while in the sulphide material higher-grade values have been statistically capped to 20 g/t Au. The improved geological knowledge coupled with the increased data density, the continuity of the mineralization and the increased reliability of the database, have allowed resources to be classified with higher confidence. Tonnages and grades are reported using a 1.0 g/t Au cut-off.

Commenting on these results at Twangiza, Peter Cowley, President and C.E.O. of the Company, said: “The significant 49% increase in the Measured and Indicated categories is encouraging with a high degree of conversion from the Inferred Mineral Resource category. These results are being incorporated into a Preliminary Assessment being undertaken with respect to Twangiza. We were hoping to complete such an assessment this month with the assistance of an independent consulting group, however this has now been delayed until the results of additional metallurgical testwork on the transitional and sulphide materials have been completed. This testwork is underway and is exploring a variety of flow sheet alternatives. Similarly on the Namoya project, metallurgical testwork is being undertaken on the sulphide material which was intersected in drilling in the last quarter of 2006.”

Drill cores for assaying were taken at a maximum of one metre intervals and were cut with a diamond saw with one-half of the core placed in sealed bags and sent to the Company’s sample preparation facility in Bukavu, DRC. The core samples were then crushed down to minus 2 mm, split with half the sample then being pulverised down to minus 75 microns. A portion of the pulverised sample was then shipped to the SGS Laboratory in Mwanza, Tanzania or ALS Chemex in Johannesburg, South Africa (which are both independent of the Company) where the samples were analysed for gold by fire assay using a 50 g sample. As part of the Company’s QA/QC procedures, internationally recognised standards, duplicates and blanks were inserted into the sample batches.

The Mineral Resource estimates disclosed in this press release have been prepared in accordance with National Instrument 43-101 (“NI 43-101”) based on information compiled by Banro’s Mineral Resources Manager, Daniel Bansah, who is a Member of The Australasian Institute of Mining and Metallurgy (Aus.I.M.M). Mr. Bansah has over 17 years experience in the determination of gold mineral resources and is a “qualified person” as such term is defined in NI 43-101. Mr. Bansah has reviewed and approved the contents of this press release.

A detailed, NI 43-101 technical report on Twangiza, including the updated Mineral Resource estimates disclosed by this press release, will be filed on SEDAR and on the Company’s website within 45 days of this press release.

Additional information with respect to the Twangiza property is contained in the following technical reports of Michael B. Skead (who is the Company’s Vice President, Exploration and a “qualified person” as such term is defined in NI 43-101): (a) the report dated November 10, 2006 and entitled “Third NI 43-101 Technical Report, Twangiza Project, South Kivu Province, Democratic Republic of the Congo”; and (b) the report dated March 30, 2006 and entitled “NI 43-101 Technical Report, Twangiza Project, South Kivu Province, Democratic Republic of the Congo”. Copies of these reports can be obtained from SEDAR at www.sedar.com. Exploration at Twangiza is being conducted under the supervision of Mr. Skead (Aus.I.M.M).

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.

Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission (the “SEC”) permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Certain terms are used by the Company, such as “measured”, “indicated”, and “inferred” “resources”, that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in the Company’s Form 40-F Registration Statement, File No. 001-32399, which may be secured from the Company, or from the SEC’s website at http://www.sec.gov/edgar.shtml.

Forward-Looking Statements: This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, potential mineralization, potential mineral resources, and future plans and objectives of the Company) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to establish estimated mineral resources, changes in world gold markets and equity markets, political developments in the DRC, changes to regulations affecting the Company’s activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data and the other risks involved in the gold exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

The mineral resource figures disclosed in this press release are estimates and no assurances can be given that the indicated levels of gold will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the resource estimates included in this press release are well established, by their nature resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that mineral resources can be upgraded to mineral reserves through continued exploration.


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For further information, please visit our website at www.banro.com, or contact: Peter Cowley, President and C.E.O., 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.
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