Banro Intersects Further Significant Gold Mineralization in Trenches at Lugushwa and Identifies New Prospect Areas

October 25th, 2005

New trench sampling results include 70.5 metres averaging 4.90 g/t Au, 93 metres at 2.24 g/t Au and 39 metres of 8.67 g/t Au

Toronto, Canada - October 25, 2005: Banro Corporation (“Banro” or the “Company”) (AMEX - “BAA”; TSX Venture Exchange - “BAA”) is pleased to announce further positive exploration results from the Company’s wholly-owned Lugushwa project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the “DRC”).

Closely spaced trench results received from the G20 prospect at Lugushwa include 70.5 metres averaging 4.90 g/t Au in trench T6B and 93 metres at 2.24 g/t Au from trench T10. On the D18 prospect, results include 12 metres averaging 1.75 g/t Au and 29 metres at 1.30 g/t Au from trench TL58720 as well as 10 metres averaging 6.30 g/t Au and 16 metres at 1.93 g/t Au from trench TL58560. At the newly delineated Kimbangu prospect, the first trench intersected 39 metres averaging 8.67 g/t Au, including 25 metres at 11.76 g/t Au.

The more significant new Lugushwa trench results received are summarised in the tables below together with a full table of trench results received to date. A locality plan is found accompanying this press release on the Company’s website, at
                          FROM         TO     LENGTH      Au
PROSPECT    TRENCH     (metres)   (metres)   (metres)   (g/t)
G20           T6B            0       70.5      70.50    4.90
G20           T8            28       87        59.00    1.87
G20           T10            0       93        93.00    2.24
G20           T12            0       95        95.00    2.08
KIMBANGU   TL59840A/B        0       39        39.00    8.67
           including        13       38        25.00   11.76
D18         TL58720        152      164        12       1.75
              And          167      196        29.00    1.30
D18         TL58560         99      109        10.00    6.30
              And          310      326        16.00    1.93
In addition, two of the three previously announced trenches (T3 and T4) have been extended with the following mineralized lengths incorporating the previously announced trench results (see the Company’s press release dated July 8, 2005).
                          FROM         TO     LENGTH      Au
PROSPECT    TRENCH     (metres)   (metres)   (metres)   (g/t)
G20        T3/3A/3B         88        126      38.00    1.69
              And          131        246     115.00    1.62
G20          T4/4A         105        127      22.00    1.38
              And          140        264     124.00    3.72
The G20 trench results are from previously excavated exploration trenches and represent close spaced (20 to 50 metres apart) trenches at variable orientations and cover an area of 25,000 square metres. These trenches were resampled to verify previous historical results with the recent results indicating that the gold mineralization is more extensive than the historical data. The geological setting of the mineralization at G20 consists of sericite chlorite schists and interbedded quartzites with mineralized quartz veins occurring as a network of interlocking conjugate sets with trends oriented from NNW-SSE to NNE -SSW and in an E-W direction with dips to the E and N respectively. At the D18 prospect, trenches TL58720 and TL58560 are orientated NW-SE and are 160 metres apart. Mineralization at prospect D18 is similar to that at G20.

The first trench on the new Kimbangu prospect, 1,000 metres ENE of prospect D18, intersected 39 metres averaging 8.67 g/t Au and is perpendicular to the soil anomaly trend. Initial geological mapping indicates a similar geological setting to prospect G20 and consists of sericite schists and interbedded quartzites with gold mineralization associated with a network of interlocking quartz veins trending NNW-SSE to NNE -SSW and in an E-W direction.

A total of 2,250 metres of trenching have now been completed at Lugushwa with the collection of 3,044 rock samples for analysis.

All trench results received to date from Lugushwa are tabulated below:
                                      AZIMUTH              LENGTH
                                  LENGTH    |                   |    Au
PROS- TRENCH      NORTHING  EASTING    |    |  FROM     TO      | (g/t)
PECT  ID          (UTM)     (UTM)     (m)   |    (m)    (m)    (m)    |
G20   TN1/T1A     9623982   595439.5 358  160                        UM
G20   *T3/3A/3B   9624157.1 595532   251  160  66.0   72.0    6.0  1.48
                                               88.0  126.0   38.0  1.69
                                              131.0  246.0  115.0  1.62
G20   *T4/4A      9624149   595486   535  162  80.0   86.0    6.0  1.70
                                              105.0  127.0   22.0  1.38
                                              140.0  264.0  124.0  3.72
                                              519.0  526.0    7.0  1.09
G20   *T5/5A      9623983   595489   341  160 129.5  130.5    2.0  1.00
                                              178.0  261.6   83.6  1.97
G20   T6          9624021   595591    79  208   0.0   79.0   79.0  4.05
G20   T6B         9623981   595559    71  210   0.0   70.5   70.5  4.90
G20   T8          9624052   595543    87  210  28.0   87.0   59.0  1.87
G20   T9          9623959   595619    60  210   0.0   52.0   52.0  1.16
G20   T10         9624033   595551    93  206   0.0   93.0   93.0  2.24
G20   T12         9624013   595603    95  205   0.0   95.0   95.0  2.08
      TL59840A/B  9624550   597380   148  135   0.0   39.0   39.0  8.67
                                              104.0  107.0    3.0  2.30
D18   TL58720     9624512   595473   208  135 152.0  164.0   12.0  1.75
                                              167.0  196.0   29.0  1.30
D18   TL58560     9624472   595303   449  135  99.0  109.0   10.0  6.30
                                              141.0  145.0    4.0  3.25
                                              310.0  326.0   16.0  1.93
                                              332.0  335.0    3.0  1.98
                                              365.0  369.0    4.0  1.53
 * = Previously reported trench results with extensions
UM = Unmineralized                        
A total of 2,630 soil samples were collected and submitted for analysis. Soil geochemical results received to date from Lugushwa highlight a prominent 1,700 metre long, north trending gold in soil anomaly which then trends northeastwards at the D18/19 prospects for additional 1,400 metres to include the new Kimbangu prospect (see the locality plan referred to above). The 500 metre long Kimbangu soil anomaly represents a new grassroots discovery and is not associated with any previous mining activity.

South of the G20/21 prospects, the gold in soil anomaly remains open and further soil sampling will be undertaken in this area to fully outline the extent of the soil anomaly to the south.

The gold in soil geochemical anomaly associated with the Mapale prospect to the north now appears to represent a separate parallel NE-SW trending mineralized trend. A number of soil anomalies have been identified along the Mapale trend and will require follow up. Initial geological mapping at Mapale indicates that the dominant rock types are quartzites and sericite chlorite schists. Quartz veins occur as a network of interlocking conjugate sets with trends oriented from N-S to NE-SW and dipping to the E, SE and NW.

The above trench sampling was undertaken at approximately one metre intervals and the assay composites are uncut. Soil sampling was undertaken at 40 metres along lines 80 to 160 metres apart. The soil and trench samples were analysed for gold by fire assay using a 50g sample at S.G.S.’s accredited Mwanza Geochemical Laboratory in Tanzania and at the accredited ALS Chemex Laboratory in Johannesburg. Internationally recognised standards and blanks were inserted as part of the Company’s QA/QC analytical procedures.

Trenching, geological mapping and geochemical sampling are continuing at the G20, D18, Kimbangu, and Simali prospects to better define the mineralized trends prior to drilling.

A previous study by independent geological consultants Steffen, Robertson and Kirsten (UK) Ltd (“SRK”) on historic data at Lugushwa outlined an Inferred Mineral Resource of 37,000,000 tonnes grading 2.3 g/t Au, equivalent to 2,735,000 ounces of gold (see the Company’s press release dated February 28, 2005).

Commenting on these new results at Lugushwa, Peter Cowley, President and C.E.O. of the Company, said: “These trench and soil results demonstrate the upside potential at Lugushwa in terms of both the historically known mineralization and in delineating new prospect areas such as Kimbangu.”

Additional information with respect to the Lugushwa property is contained in SRK’s report dated February 2005. A copy of this report can be obtained from SEDAR at and from the Company’s website at

At Banro’s other project areas along the Twangiza-Namoya gold belt, core drilling is continuing at the Namoya project area while at Twangiza, the exploration camp has now been established with gridding and geological mapping underway.

In Bukavu, the mobile sample preparation facility has been successfully commissioned and is now fully operational. This preparation facility should result in a reduced turnaround time for assay results.

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.

Qualified Person
The exploration results disclosed by this press release have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company’s geological staff based in Bukavu, DRC which includes a “qualified person” (as such term is defined in National Instrument 43-101), Michael Skead (Aus.I.M.M), the Company’s Vice President of Exploration.

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 in this press release, such as “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

Forward-Looking Statements: This press release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include without limitation, statements regarding potential mineralization and resources, exploration results and future plans and objectives of the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Factors that could cause such differences include 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. 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 TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

For further information, please visit our website at, 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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