Banro Provides Update on Share Trading Activity

June 1st, 2009

Toronto, Canada — June 1, 2009 - At the request of Market Surveillance on behalf of the Toronto Stock Exchange, Banro Corporation (“Banro” or the “Company”) (TSX - “BAA”; NYSE AMEX - “BAA”) is providing an update to investors on the recent trading activity in the Company’s shares. There have been no material changes to report to explain the recent volatility in the Company’s share price.

The Company is currently optimizing the results of its Feasibility Study of its wholly-owned Twangiza gold project using the results of further metallurgical testwork and updating materials and energy costs and other input parameters pertinent to the Feasibility Study. The Company is reviewing options for the financing of the development of the Twangiza project.

Banro is a Canadian-based gold exploration company focused on the development of four major, wholly-owned gold projects, each with mining licenses, along the 210 kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. 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: Mike Prinsloo, President and C.E.O., South Africa, Tel: +27 (0) 11 958 2885; 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.