Banro comments on correspondence received from the DRC Minister of Mines
February 19 2008 - 1:38PM
PR Newswire (US)
TORONTO, Feb. 19 /PRNewswire-FirstCall/ -- 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. DATASOURCE: Banro Corporation
CONTACT: please visit our website at http://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
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