Drilling results include 108.50 metres grading 2.42 g/t Au, 70.60 metres grading 2.68 g/t Au, 30.89 metres grading 7.22 g/t Au, 44.00 metres grading 2.36 g/t Au, 30.00 metres grading 2.83 g/t Au and 13.59 metres grading 10.32 g/t Au TORONTO, April 2 /PRNewswire-FirstCall/ -- Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce further results from the Company's ongoing pre-feasibility, core drilling program at its wholly-owned Twangiza project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC"). Assay results have been received for an additional 58 core holes, which have been drilled at the Twangiza North and Twangiza Main deposits since the previous drilling update in September 2007. Highlights include: - Hole TDD139 intersected 9.00 metres grading 10.71 g/t Au from 41.00 metres - Hole TDD150 intersected 30.89 metres grading 7.22 g/t Au from 49.49 metres - Hole TDD168 intersected 13.59 metres grading 10.32 g/t Au from 48.24 metres - Hole TDD182 intersected 70.60 metres grading 2.68 g/t Au from 0.00 metres - Hole TDD184 intersected 23.22 metres grading 3.67 g/t Au from 0.00 metres - Hole TDD187 intersected 44.00 metres grading 2.36 g/t Au from 0.00 metres - Hole TDD188 intersected 30.00 metres grading 2.83 g/t Au from 16.00 metres - Hole TDD189 intersected 108.50 metres grading 2.42 g/t Au from 0.00 metres The current drilling program is part of the pre-feasibility study being undertaken at Twangiza with the objective of upgrading Inferred Mineral Resources into the Measured and Indicated categories, so that open pit ore reserves can be determined as part of the pre-feasibility study, which is due for completion in June 2008. To accomplish this, the Company has now increased the number of drill rigs operating at Twangiza to six. Twangiza currently has an estimated Measured Mineral Resource of 1,315,000 ounces of gold (14,510,000 tonnes grading 2.82 g/t Au), Indicated Mineral Resource of 2,558,000 ounces of gold (39,119,000 tonnes grading 2.03 g/t Au) and Inferred Mineral Resource of 2,705,000 ounces of gold (46,188,000 tonnes grading 1.82 g/t Au). These Mineral Resources were determined using the assay results from drill holes TDD001 to TDD173. Reference is made to Banro's press release dated January 15, 2008 (a copy of which can be obtained from SEDAR at http://www.sedar.com/). Commenting on these drilling results at Twangiza, Mike Prinsloo, President and C.E.O. of the Company, said: "These drilling results are encouraging with excellent conversion of Inferred Mineral Resources into the Measured and Indicated categories. The ongoing pre-feasibility study is proceeding well and we are on track for completion of this study by the end of June 2008. We are also making good progress on our other advanced gold project at Namoya, where the infill drilling program for the pre-feasibility study has been completed. The Namoya study is also due for completion in June 2008." A locality plan of the reported drill holes is found accompanying this press release on the Company's web site at http://www.banro.com/i/pdf/2008-04-02_NRM.pdf. Results from the core holes are tabulated in the following table: ------------------------------------------------------------------------- MINERALIZATION ----------------------------- AZIMUTH INCL. HOLE EASTINGS NORTHING (deg- (deg- FROM TO WIDTH Au (UTM) (UTM) rees) rees) (m) (m) (m) (g/t) ------------------------------------------------------------------------- TDD132 693196 9683529 70 -50 No significant mineralization ------------------------------------------------------------------------- TDD133 692798 9684869 70 -50 32.00 39.00 7.00 1.13 48.00 50.00 2.00 0.99 ------------------------------------------------------------------------- TDD134 693120 9684051 250 -50 249.00 250.00 1.00 6.02 262.00 266.00 4.00 0.95 269.85 272.00 2.15 3.60 303.00 305.00 2.00 1.23 ------------------------------------------------------------------------- TDD135 693144 9683618 70 -50 75.10 78.00 2.90 0.53 ------------------------------------------------------------------------- TDD136 693420 9682864 70 -55 3.00 17.47 14.47 2.80 93.00 100.00 7.00 0.75 108.00 110.00 2.00 1.63 116.00 119.00 3.00 3.01 121.95 123.00 1.05 4.06 127.00 129.30 2.30 0.63 240.00 245.00 5.00 0.61 ------------------------------------------------------------------------- TDD137 693103 9684149 250 -50 203.00 208.30 5.30 0.65 222.00 224.00 2.00 1.80 227.00 228.00 1.00 0.99 ------------------------------------------------------------------------- TDD138 692801 9684935 70 -57 No significant mineralization ------------------------------------------------------------------------- TDD139 692890 9684447 70 -50 41.00 50.00 9.00 10.71 ------------------------------------------------------------------------- TDD140 693257 9685166 250 -50 64.89 66.00 1.11 0.63 154.00 155.00 1.00 0.69 ------------------------------------------------------------------------- TDD141 693352 9684732 250 -50 9.40 14.85 5.45 0.69 141.00 143.00 2.00 0.68 ------------------------------------------------------------------------- TDD142 693509 9684370 250 -50 No significant mineralization ------------------------------------------------------------------------- TDD143 692948 9684166 70 -53 26.60 30.40 3.80 0.55 53.00 55.00 2.00 1.65 61.95 67.00 5.05 1.16 ------------------------------------------------------------------------- TDD144 692900 9684151 70 -60 50.00 61.00 11.00 1.29 79.00 86.00 7.00 2.32 109.00 119.00 10.00 0.96 131.00 133.00 2.00 4.18 149.40 151.20 1.80 0.95 ------------------------------------------------------------------------- TDD145 692818 9684359 70 -62 103.52 104.52 1.00 2.22 194.00 202.00 8.00 2.18 206.00 214.00 8.00 1.19 221.00 223.72 2.72 0.80 226.45 227.45 1.00 0.97 ------------------------------------------------------------------------- TDD146 693179 9683632 70 -50 40.00 41.00 1.00 0.69 50.00 51.00 1.00 0.53 141.00 142.40 1.40 1.14 ------------------------------------------------------------------------- TDD147 692858 9684291 70 -57 38.00 39.29 1.29 0.68 69.43 71.33 1.90 1.16 162.00 167.44 5.44 2.59 ------------------------------------------------------------------------- TDD148 692927 9684315 70 -56 9.00 16.00 7.00 7.64 32.00 34.00 2.00 0.57 41.00 45.69 4.69 1.95 ------------------------------------------------------------------------- TDD149 692855 9684126 70 -65 33.60 34.62 1.02 1.95 109.58 117.00 7.72 1.12 129.00 132.00 3.00 3.15 204.00 206.00 2.00 8.26 ------------------------------------------------------------------------- TDD150 692861 9684529 70 -55 49.49 80.38 30.89 7.22 ------------------------------------------------------------------------- TDD151 692800 9684619 70 -53 95.00 103.00 8.00 2.83 109.20 111.00 1.80 2.29 116.00 117.00 1.00 1.26 120.00 121.00 1.00 1.06 124.00 125.00 1.00 10.10 ------------------------------------------------------------------------- TDD152 692861 9684373 70 -59 30.00 35.00 5.00 0.65 114.30 126.00 11.70 1.84 132.00 143.48 11.48 4.65 ------------------------------------------------------------------------- TDD153 692835 9684514 70 -68 9.00 10.00 1.00 0.87 44.00 46.00 2.00 0.65 123.90 124.90 1.00 8.54 140.65 145.35 4.70 13.82 ------------------------------------------------------------------------- TDD154 692739 9684766 70 -57 136.65 138.40 1.75 5.07 142.17 145.00 2.83 0.87 147.78 148.78 1.00 2.08 151.78 153.78 2.00 4.20 158.65 161.65 3.00 5.92 ------------------------------------------------------------------------- TDD155 692815 9684315 70 -60 123.00 124.00 1.00 1.25 214.20 216.00 1.80 3.55 221.00 228.90 7.90 6.82 232.00 240.00 8.00 10.77 ------------------------------------------------------------------------- TDD156 692868 9684567 70 -53 29.48 47.00 17.52 2.71 53.00 56.74 3.74 0.86 ------------------------------------------------------------------------- TDD157 692976 9684025 70 -55 15.10 16.00 0.90 0.89 44.00 45.00 1.00 0.63 ------------------------------------------------------------------------- TDD158 692925 9684050 70 -63 27.08 28.66 1.58 0.89 46.18 48.60 2.42 4.57 69.00 77.00 8.00 5.60 81.70 83.80 2.10 1.55 111.55 112.45 0.90 2.04 140.53 143.00 2.47 1.51 179.38 183.00 3.62 0.66 189.27 191.28 2.01 0.52 ------------------------------------------------------------------------- TDD159 692860 9684177 70 -58 76.00 78.20 2.20 0.66 83.30 85.29 1.99 3.89 134.00 135.00 1.00 1.08 157.75 158.50 0.75 4.02 163.00 167.00 4.00 1.20 170.00 171.00 1.00 2.84 203.47 204.32 0.85 1.42 210.61 226.00 15.39 0.97 230.18 234.00 3.82 3.61 243.75 248.72 4.97 0.97 ------------------------------------------------------------------------- TDD160 692920 9684011 70 -61 43.30 51.00 7.70 1.66 103.96 118.00 14.04 1.79 138.00 144.00 6.00 1.23 171.00 173.12 2.12 0.66 ------------------------------------------------------------------------- TDD161 692837 9684061 70 -60 126.00 130.50 4.50 0.53 156.00 157.00 1.00 2.09 186.00 188.00 2.00 1.54 192.00 197.00 5.00 0.93 219.00 223.12 4.12 2.40 ------------------------------------------------------------------------- TDD162 692816 9684425 70 -62 15.30 16.00 0.70 0.89 63.46 64.46 1.00 0.58 ------------------------------------------------------------------------- TDD163 693242 9683173 70 -56 3.00 10.00 7.00 1.04 35.00 37.00 2.00 4.71 99.00 119.22 20.22 2.01 ------------------------------------------------------------------------- TDD164 693318 9683193 70 -55 37.00 41.00 4.00 4.68 ------------------------------------------------------------------------- TDD165 692933 9684286 70 -56 22.66 26.97 4.31 4.15 35.00 43.00 8.00 7.02 46.00 48.91 2.91 1.34 61.70 63.54 1.84 0.65 ------------------------------------------------------------------------- TDD166 693188 9683228 70 -62 10.34 12.88 2.54 1.61 86.53 89.71 3.19 1.27 94.00 95.00 1.00 1.09 98.00 99.00 1.00 1.62 181.00 182.15 1.15 1.70 189.00 190.45 1.45 5.50 ------------------------------------------------------------------------- TDD167 693307 9683261 70 -57 17.00 20.00 3.00 1.25 22.40 25.40 3.00 4.56 ------------------------------------------------------------------------- TDD168 693341 9683112 70 -60 0.00 18.00 18.00 1.48 28.74 31.74 3.00 0.82 39.00 40.00 1.00 14.60 48.24 61.83 13.59 10.32 ------------------------------------------------------------------------- TDD169 692772 9684910 70 -68 68.50 71.30 2.80 1.09 78.00 79.00 1.00 1.80 83.00 84.00 1.00 1.15 ------------------------------------------------------------------------- TDD170 693390 9682819 70 -60 2.00 5.00 3.00 1.85 35.00 36.00 1.00 4.50 40.00 42.00 2.00 1.30 47.00 48.00 1.00 1.45 152.00 153.00 1.00 0.99 181.00 182.00 1.00 1.09 233.60 234.00 0.40 1.45 245.00 245.91 0.91 1.41 ------------------------------------------------------------------------- TDD171 693296 9683098 70 -59 0.00 5.80 5.80 3.89 22.00 28.00 6.00 0.88 67.00 71.00 4.00 0.80 88.95 107.50 18.55 2.49 ------------------------------------------------------------------------- TDD172 693218 9683236 70 -57 63.00 69.28 6.28 1.73 81.00 87.00 6.00 2.35 ------------------------------------------------------------------------- TDD173 693326 9682938 70 -55 27.00 37.00 10.00 4.47 67.00 71.70 4.70 4.71 75.70 79.70 4.00 0.97 83.70 85.70 2.00 3.06 101.60 102.18 0.58 2.53 126.00 127.00 1.00 1.13 129.00 130.00 1.00 0.82 ------------------------------------------------------------------------- TDD174 693209 9683119 70 -56 34.60 35.60 1.00 0.91 51.38 54.00 2.62 0.72 66.42 71.00 4.58 3.31 73.68 78.68 5.00 4.70 153.44 154.80 1.36 5.02 160.00 161.00 1.00 2.38 163.00 164.00 1.00 1.76 174.80 181.70 6.90 2.22 ------------------------------------------------------------------------- TDD175 693273 9683309 70 -52 27.07 29.00 1.93 2.23 42.25 47.00 4.75 0.91 ------------------------------------------------------------------------- TDD176 693280 9683184 70 -56 67.45 77.00 9.55 2.10 ------------------------------------------------------------------------- TDD177 692753 9684980 70 -64 72.00 73.00 1.00 2.23 87.00 91.00 4.00 4.80 95.00 96.00 1.00 1.04 ------------------------------------------------------------------------- TDD178 693276 9682965 70 -55 43.30 44.48 1.18 2.26 67.76 85.00 17.24 1.74 91.26 92.00 0.74 5.47 109.00 112.15 3.15 1.05 126.77 131.05 4.28 0.69 155.00 165.00 10.00 2.91 168.00 172.00 4.00 1.01 ------------------------------------------------------------------------- TDD179 693392 9682802 70 -62 36.30 37.07 0.77 5.67 44.22 47.00 2.78 1.38 54.00 57.00 3.00 0.73 137.08 139.00 1.92 0.65 164.60 166.60 2.00 2.39 176.39 180.00 3.61 1.57 183.00 185.00 2.00 1.17 196.00 198.00 2.00 1.55 222.00 224.00 2.00 1.00 252.29 253.00 0.71 2.67 ------------------------------------------------------------------------- TDD180 693382 9683175 70 -57 5.00 17.00 12.00 2.82 69.00 75.00 6.00 0.56 94.00 104.05 10.05 0.98 ------------------------------------------------------------------------- TDD181 693364 9683069 70 -58 0.00 4.00 4.00 2.63 20.73 30.29 9.56 2.13 33.00 36.40 3.40 1.29 42.00 50.00 8.00 3.18 86.50 90.33 3.83 2.05 ------------------------------------------------------------------------- TDD182 693516 9682715 70 -55 0.00 70.60 70.60 2.68 ------------------------------------------------------------------------- TDD183 693348 9682409 70 -51 0.00 11.20 11.20 2.36 15.53 21.83 6.30 1.50 31.80 38.25 6.45 1.37 41.00 45.74 4.74 0.86 95.00 95.57 0.57 6.71 107.51 109.22 1.71 2.46 114.47 118.03 3.56 1.82 142.47 170.00 27.53 0.80 174.20 184.00 9.80 0.81 215.61 216.61 1.00 3.20 231.95 242.56 10.61 1.88 268.26 276.84 8.58 1.88 297.67 299.90 2.23 2.17 307.96 308.72 0.76 1.80 352.48 353.00 0.52 5.08 391.66 401.00 9.34 0.96 416.50 418.87 2.37 1.58 421.26 423.18 1.92 0.55 425.51 427.86 2.35 1.75 429.86 431.86 2.00 2.21 435.85 444.57 8.72 0.49 454.62 455.18 1.26 0.86 ------------------------------------------------------------------------- TDD184 693515 9682715 70 -66 0.00 23.22 23.22 3.67 26.00 45.38 19.38 1.43 52.45 59.09 6.64 2.18 72.00 73.21 1.21 3.05 76.00 99.00 23.00 1.17 106.09 110.00 3.91 0.60 174.00 176.00 2.00 1.32 187.00 189.00 2.00 1.26 204.00 206.00 2.00 1.72 ------------------------------------------------------------------------- TDD185 693340 9683273 70 -54 0.00 4.00 4.00 1.70 ------------------------------------------------------------------------- TDD186 693377 9682506 70 -51 11.57 12.42 0.85 3.91 16.00 17.00 1.00 2.00 22.00 23.00 1.00 2.67 36.18 37.16 0.98 2.59 57.50 58.00 0.50 2.87 97.40 98.24 0.84 2.76 114.00 132.00 18.00 1.10 135.00 156.00 21.00 2.37 182.00 187.00 5.00 0.93 192.00 200.00 8.00 0.61 210.29 211.00 0.71 2.33 230.00 232.00 2.00 1.58 240.00 245.00 5.00 0.71 252.00 254.15 2.15 0.78 339.00 341.00 2.00 1.93 356.05 359.00 2.95 0.95 ------------------------------------------------------------------------- TDD187 693562 9682509 70 -56 0.00 44.00 44.00 2.36 ------------------------------------------------------------------------- TDD188 693508 9682630 70 -54 0.00 11.50 11.50 2.65 16.00 46.00 30.00 2.83 50.00 61.30 11.30 1.42 123.00 147.00 24.00 1.20 152.00 155.00 3.00 1.25 187.00 188.00 1.00 1.08 194.00 197.84 3.84 0.55 ------------------------------------------------------------------------- TDD189 693508 9682629 70 -64 0.00 108.50 108.50 2.42 113.00 122.14 9.14 1.68 128.32 134.26 5.94 1.27 146.06 147.50 1.44 1.04 151.73 152.73 1.00 1.30 197.00 198.00 1.00 1.36 211.00 214.00 3.00 0.65 217.00 219.00 2.00 0.82 223.00 224.00 1.00 121.00 226.00 227.66 1.66 2.61 259.00 266.11 7.11 0.99 ------------------------------------------------------------------------- Holes are uncut. Core holes were inclined at between minus 50 and 68 degrees and averaged 208.04 metres in depth with a maximum down hole depth of 464.08 metres. Core recovery for these holes averaged 81% within the mineralized zones. It is estimated that the true widths of the mineralized zones vary between 80% and 95% of the intersected widths in the holes. Drill hole spacing was on 40 metre sections. The mineralized sections of the Twangiza North and Twangiza Main deposits are hosted within a series of mineralized feldspar porphyry sills and weakly metamorphosed pelitic sediments along a northerly trending anticlinal structure. The gold mineralization is associated with pyrite and arsenopyrite sulfides and silicic, carbonate and potassic alteration. Drill cores for assaying were taken at a maximum of one metre intervals and were cut with a diamond saw with one-half of the core placed in sealed bags and sent to the Company's sample preparation facility in Bukavu, DRC. The core samples were then crushed down to minus 2 mm, and split with half of the sample pulverised down to 90% passing 75 microns. Approximately 150 grams of the pulverised sample was then shipped to the SGS Laboratory (which is independent of the Company) in Mwanza, Tanzania where the samples were analysed for gold by fire assay using a 50g. charge. As part of the Company's QA/QC procedures, internationally recognised standards, duplicates and blanks were inserted into the sample batches. Additional information with respect to the Twangiza project is contained in the technical report dated September 13, 2007 and entitled "Preliminary Assessment NI 43-101 Technical Report, Twangiza Gold Project, South Kivu Province, Democratic Republic of Congo". A copy of this report can be obtained from SEDAR at http://www.sedar.com/. 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. 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, under the supervision of Daniel K. Bansah, who is a Member of The Australasian Institute of Mining and Metallurgy (Aus.I.M.M), the Company's Vice President, Exploration and a "qualified person" (as such term is defined in National Instrument 43-101). 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 by the Company, such as "measured", "indicated", and "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 # 001-32399, which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.shtml. 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 regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and the Company's exploration and development plans with respect to Twangiza) 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, failure to establish estimated mineral resources (the mineral resource figures referred to in this press release are estimates and no assurances can be given that the indicated levels of gold will be produced), the possibility that future exploration results will not be consistent with the Company's expectations, gold recoveries for Twangiza being less than those indicated by the metallurgical testwork 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 world gold markets and equity markets, political developments in the DRC, fluctuations in currency exchange rates, inflation, 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 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 http://www.sedar.com/. 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. DATASOURCE: Banro Corporation CONTACT: please visit our website at http://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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