Banro's mining convention and titles confirmed by DRC government



    TORONTO, ON and KINSHASA, DRC, Feb. 25 /CNW/ - Banro Corporation ("Banro"
or the "Company") (NYSE Alternext US - "BAA"; TSX - "BAA") is pleased to
announce that following discussions it has received official confirmation from
the Honourable Emile Bongeli, Deputy Prime Minister and the official
responsible for the mining contract review process, and from the Honourable
Martin Kabwelulu, Minister of Mines of the Democratic Republic of the Congo
(the "DRC"), that all aspects of the Company's Mining Convention and its
mining licenses respecting the Company's wholly-owned gold projects in the DRC
are in accordance with Congolese law.
    The Company determined it was necessary to receive this confirmation in
light of international investor concern regarding the Company's rights in the
DRC.
    The Honourable Emile Bongeli, Deputy Prime Minister of the DRC and the
official in charge of Reconstruction, said: "We congratulate Banro on its
professional approach and look forward to working together and supporting them
on all projects to achieve a win/win for all stakeholders."
    Further, the Honourable Martin Kabwelulu, Minister of Mines for the DRC,
added: "Banro will get our full support and assistance from the central and
regional governments of the DRC to ensure we together achieve Banro's
objectives, as they move forward to build their projects."
    Discussions were also held with the DRC government regarding Banro's
commitment to the Banro Foundation, a charity based in Bukavu and funded by
the Company with a mandate to improve the lives of thousands of people living
in South Kivu and Maniema provinces through strategic investments in
education, health and infrastructure development. Projects undertaken by the
Banro Foundation in 2008 included the construction of two new high schools
serving a total of 350 students, construction of a potable water delivery
system serving 18,000 villagers, construction of a new health clinic,
rehabilitation of over 100 kilometres of roadway, support for HIV/AIDS testing
and education and for malaria eradication, and the shipment of medical
equipment from Canada to seven hospitals in the region.

    
    The Company has agreed to enhance its commitment to these areas through
the following:

    -   A pledge of 5% of future net profits after return of capital
        allocated through the central government to the communities of South
        Kivu and Maniema provinces for the building of infrastructure
        projects, including roads and bridges, schools and health care
        facilities.
    -   An advance payment of US$1 million to the DRC government to be made
        when the Company raises financing for construction of the future
        Twangiza mine. These funds will also be used to support social
        infrastructure development in the Twangiza and Luhwindja communities
        and will be credited against any future taxes payable.
    -   A pledge of US$200,000 to settle legacy issues with SOMINKI SARL and
        the transfer to the government of certain real estate assets
        redundant to the Company's operations.
    

    In addition, the Company's Twangiza Feasibility Study, released on
January 26, 2009, allocates a significant capital investment for community and
employee infrastructure and resettlement in the Twangiza and Luhwindja areas
once the finances for the project have been raised and construction of the
project has begun.
    Company President and C.E.O. Mike Prinsloo said: "The successful
conclusion of this process demonstrates our combined commitment to the
peaceful social and economic development of the DRC and more specifically to
the communities of South Kivu and Maniema provinces, where we operate. It is
also in support of Banro's vision to ensure we develop these projects, which
in turn will lead to enhanced opportunities and quality of life for the
communities in the long term."

    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 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.

    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 in respect of future gold production and the Company's development
plans and objectives with respect to its projects) 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:
uncertainties relating to the availability and costs of financing needed in
the future; uncertainty of estimates of capital and operating costs,
production estimates and estimated economic return; failure to establish
estimated mineral resources or mineral reserves; fluctuations in gold prices
and currency exchange rates; inflation; gold recoveries being less than those
indicated by the metallurgical test work carried out to date (there can be no
assurance that gold recoveries in small scale laboratory tests will be
duplicated in large tests under on-site conditions or during production);
changes in equity markets; political developments in the DRC; lack of
infrastructure; failure to procure or maintain, or delays in procuring or
maintaining, permits and approvals; lack of availability at a reasonable cost
or at all, of plants, equipment or labour; inability to attract and retain key
management and personnel; changes to regulations affecting the Company's
activities; the uncertainties involved in interpreting drilling results and
other geological data; and the other risks disclosed under the heading "Risk
Factors" and elsewhere in the Company's annual information form dated March
28, 2008 filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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.





For further information:

For further information: please visit our website at www.banro.com, 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

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