TORONTO, Feb. 19 /CNW/ - 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:
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