Company Information for Banro Corp

TSX-BAA; AMEX-BAA

www.banro.com

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TSX; BAA

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AMEX; BAA

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Company Statement

Banro is a gold exploration and development company which is developing four, wholly-owned properties along the 210 km Twangiza-Namoya gold belt in the Democratic Republic of the Congo. The Company is led by a focused management team with extensive African and gold industry experience

The Company has to date identified 3.70 million ounces of Measured and Indicated Resources, plus Inferred Resources of 6.87 million ounces.

In November, 2004, Banro launched an aggressive exploration program to fully delineate and extend the total resource base. Currently, there are six drilling rigs active on three properties -- Twangiza, Lugushwa and Namoya -- with plans to add a further rig later this year. The Company also plans to begin exploration at Kamituga in 2006. Grades and thicknesses indicate that there is good potential for converting the resources into open pit reserves and the Company believes it can potentially add resources at a cost significantly below that of the industry.

In addition to its current properties, which cover 2,600 square kilometers, Banro has also applied for and is awaiting confirmation of title for Exploration Permits (PRs) covering an additional 6,829 square kilometers of land in the Twangiza-Namoya gold belt.

With its substantial outlined resource base and focused leadership team, Banro enjoys strong support from institutional investors in North America, the U.K., Europe and South Africa. During 2005-2006, Banro successfully completed financings of over $Cdn 87 million, which the Company believes is sufficient to carry it through the feasibility stage in 2007.

Banro's mission is to unlock shareholder value by increasing and developing the Company's significant gold assets in a socially and environmentally responsible manner.

Current Operations

Twangiza Project
Twangiza is the most advanced of Banro's four projects, with a growing deposit that currently comprises Measured and Indicated Resources of 3.87 million ounces of gold and Inferred Resources of 2.70 million ounces. The property is located 45 kilometres south-southwest of Bukavu in South Kivu Province and consists of six Exploitation Permits covering 1,164 square kilometres.

Drilling in 2007 has focused on the northern extension of the main Twangiza trend, including the potential new zone between the Kashegeshe and Lukungurhi workings, with the objective of increasing the total resource base. The initial results of this successful program were announced on June 13, 2007, with the announcement of the discovery of the Twangiza North gold deposit. In addition, the Company in 2007 is commencing exploration on the nearby, major artisanal sites of Mufwa and Tshondo, which are highly prospective and appear to offer potential for expanding the Twangiza asset well beyond the main trend.

2008 Exploration & Development Program
The Company is building on the work of the Twangiza scoping study over 2008; in July the Company released the results of the Twangiza Pre-Feasibility Study and plans to complete a bankable feasibility study on Twangiza by December 2008.

Banro has planned almost 40,000 metres of core drilling at the Twangiza North and Twangiza Main deposits during the year, with the objective of upgrading the existing mineral resources to higher confidence resource categories and extending these deposits. The Company is also testing the possible northern extension of the Twangiza North deposit while continuing exploration on the Mufwa and Tshondo blocks, and pursuing ground follow-up on regional targets generated from the LIDAR, airborne magnetic and radiometric surveys. Additional drilling to be undertaken as part of the feasibility study will include geotechnical holes to optimize pit slopes and hydro-geological holes to monitor ground water flow and quality.

In addition, Banro is undertaking additional metallurgical testwork at Twangiza with the goal of further optimizing the recoveries of the oxide, transitional and sulphide ore types.

Kamituga Project
Kamituga is located 100 kilometres southwest of Bukavu and consists of three PEs covering an area of 649 square kilometres.
It is the most mature of Banro's four properties, having previously been the site of major alluvial and underground mining operations.

2007 and 2008 Exploration Program
In 2007, Banro completed LIDAR, aeromagnetic and radiometric surveys of the property, primarily with the goal of identifying targets for future exploration. The analysis of this data is largely complete and will assist the Company as it begins exploration of Kamituga in the second half of 2008. This initial work, consisting of gridding, geological mapping, soil, trench and adit sampling, will focus on the bulk tonnage potential in the vicinity of the Little Mobale open pit. A total of 3,250 metres of drilling is currently planned for the fourth quarter of the year.

Lugushwa Project
The three Lugushwa PEs, covering an area of 641 square kilometers, are located approximately 150 kilometres southwest of the town of Bukavu. To date, Banro has delineated an Inferred mineral resource of 2.7 million ounces of gold.

2008 Exploration Program
Banro plans a broad exploration program for 2008 that includes 10,000 metres of drilling, as well as surface exploration to identify new targets for exploration. Infill drilling, planned for the first half of the year, is underway with the goal of converting Inferred Resources at D18-19 and G20-21 into higher resource categories in preparation for the Preliminary Assessment study at Lugushwa, which is expected to be completed by year-end. Resource drilling is planned for the Carriere A prospect and newly identified anomalies within the G20 area and south of Carriere A at Mpongo.

The Company has recently completed analysis of the comprehensive airborne magnetic and radiometric surveys and LiDAR survey which were undertaken on the property in 2007. The resulting data is helping to identify several new targets for follow-up work.

Metallurgical testwork is also being undertaken to optimize recoveries of oxide, transitional and sulphide ore types.

Namoya Project
Drilling continues at Namoya with the goal of upgrading remaining Inferred Resource ounces and adding to the Company's total mineral resources. Other exploration activities, including soil sampling and trenching, have been extended to cover the rest of the Namoya property in order to delineate additional targets for drilling in 2007. Of particular interest, the Company has identified anomalies to the east of Namoya Summit which may indicate the existence of a parallel zone of mineralization. This new prospect will be followed up with further exploration in 2007.

In July 2007, the Company announced the successful results of its Preliminary Assessment of the Namoya project. The full study can be accessed through the link near the top of the page. A press announcement outlining the results, dated July 3, 2007, can be accessed below. The Company is commencing a pre-feasibility study of the Namoya project.

The Namoya property lies at the southern end of the Twangiza-Namoya gold belt in Maniema province, approximately 225 kilometers southwest of Bukavu and consists of one PE covering an area of 174 square kilometres.

With completion of a promising Preliminary Assessment and a 36% increase in Indicated Resources in 2007, Banro foresees completion of a Pre-Feasibility Study in 2008 and continued expansion and upgrading of resources.

2008 Exploration Program
Banro's focus in 2008 and beyond is on further improving Namoya's economics by expanding the resource base, completing the feasibility study and moving Namoya along the development path and up the value curve.

Approximately 13,000 metres of drilling are planned for Namoya in 2008, with the objectives of upgrading remaining Inferred Resource ounces and adding to the Company's total mineral resources. Other exploration activities, including soil sampling and trenching, have been extended to cover the rest of the Namoya property in order to delineate additional targets for drilling in 2008. Analysis of the airborne geophysical and LIDAR surveys is also proving invaluable in identifying new prospects on the ground.

Meanwhile the Company is working to complete a Pre-Feasibility Study by November 2008, and then proceed directly to a full Feasibility Study of the project. Additional metallurgical testwork is being included in the Pre-Feasibility work to further optimize the recoveries of the oxide, transitional and sulphide ore types. Drilling of geotechnical holes to optimize pit slopes and hydro-geological holes to monitor ground water flow and quality is also being undertaken as part of the ongoing Pre-Feasibility Study.

Geographical Spread

South Kivu and Maniema Provinces, Democratic Republic of the Congo

Board of Directors and Key Management

Simon Village	Chairman
Peter Cowley	Director
Arnold T. Kondrat	Director, Executive VP
John Clarke	Director
Michael Prinsloo	President & CEO
Bernard van Rooyen	Director
Piers Cumberlege	Director
Richard Lachcik	Director
J. Gregory Short	Chief Financial Officer
Donat K. Madilo	Treasurer
Dan Bansah	Mineral Resource Manager
Howard Fall	Chief Geologist
Desire Sangara	Administrative Manager

Company Address

Address 1 First Canadian Place
100 King St. West
Suite 7070
P.O. Box 419
Toronto, M5X 1E3


Telephone:	+1 416-366-2221
Facsimile:	+1 416-366-7722
Email:	info[at]banro.com
Website:	http://www.banro.com

Additional Address/Key Contact

London UK Office Address
Castle Court, 41 London Road
Reigate, Surrey
United Kingdom RH2 9RJ

Telephone:+44 (0) 870 351 7904
Fax:+44 (0) 870 351 7905

Capital

Shares Outstanding: 39.7 Million
Shares Fully Diluted: 43.4 Million

Year End

December 31

Major Shareholders

Shareholders:

Management: 8%

Institutions: 80%

Retail: 12%

Most Recent Statement

23/09/08 - Banro announces exercise of over-allotment option
23/09/08 - Banro announces exercise of over-allotment option
17/09/08 - Banro announces closing of financing
19/08/08 - Banro intersects 29.00 metres grading 5.59 g/t Au, 7.70 metres grading 18.58 g/t Au and 13.50 metres grading 9.14 g/t Au in Pre-Feasibility Drilling at its Namoya Gold Project
18/08/08 - Banro Files NI 43-101 Technical Report on Twangiza Pre-feasibility Study
25/07/08 - Banro Provides Update On Share Trading Activity

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