Banro Corporation

[boba]

Banro's Pre-Feasibility Study of its Twangiza Gold Project Indicates Gold Production of 2.3 Million Ounces at Average Operating Cash Costs of Us$345/Oz During 12 Years of Operation

[boba]

Banro Corp., based on the encouraging results of the prefeasibility study of its wholly owned Twangiza gold project, as announced in Stockwatch on July 7, 2008, plans to move aggressively toward completion of a bankable feasibility study of Twangiza by December, 2008.
The expected completion date for the bulk sampling metallurgical testwork on the oxide and transitional material from the four ore bodies at Namoya is the end of September 2008. The Company expects to announce the results of the Pre-Feasibility Study for Namoya in November 2008 and to then progress toward completion of a Bankable Feasibility Study.

[boba]

At the request of Market Surveillance on behalf of the Toronto Stock Exchange, Banro Corp. is providing an update to investors on the recent trading activity in the company's shares. There have been no material developments at the company which the company believes would explain the recent decline in the company's share price.

[boba]

Banro Intercepts 192 Metres Grading 2.02 G/t Au, 149 Metres Grading 1.71 G/t Au, 68 Metres Grading 3.77 G/t Au, 77.8 Metres Grading 2.17 G/t Au And 60 Metres Grading 3.50 G/t Au As Part Of The Bankable Feasibility Drilling Program At Its Twangiza Project

[needan]

The current exploration at Twangiza commenced in October 2005. A preliminary assessment study of Twangiza was completed in July 2007. This study was advanced to a Pre-Feasibility Study, the results of which were released by the Company by way of a press release dated July 7, 2008. The focus is now to further improve Twangiza's economics by expanding the resource base, completing the infill drilling program by the end of October 2008, as well as optimizing various aspects of the project, more specifically the processing route, the engineering designs, as well as the hydro electric power plant.

"This will be done over the next 5 to 6 months as we progress all this work through to a definitive Bankable Feasibility Study and move Twangiza further along the development path and up the value curve," said Banro President and CEO, Mike Prinsloo.

[needan]

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; Other Drill Intersections Include 25.01 Metres Grading 3.20 G/t Au, 16.35 Metres Grading 4.44 G/t Au, And 24.00 Metres Grading 3.00 G/t Au

[needan]

Toronto, Canada -- September 10, 2008 - Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and including CIBC World Markets Inc., UBS Securities Canada Inc. and Raymond James Ltd. to sell 11,000,000 units of the Company at a price of U.S.$1.75 per unit to raise gross proceeds of approximately U.S.$19,250,000. Each unit will consist of a common share and one half of one common share purchase warrant. Each whole warrant will allow the holder to purchase a Banro common share for US$2.20 per share for a period of 36 months. The underwriters have been granted an option, exercisable for a period of 30 days from the date of closing of the offering, to purchase up to an additional 1,000,000 common shares and 500,000 warrants to cover over-allotments and for market stabilization purposes.

[needan]

Banro Intercepts Further Significant Gold Mineralization In Feasibility Drilling At Its Twangiza Project; Highlights Include 143.00 Metres Grading 2.47 G/t Au, 106.00 Metres Grading 2.62 G/t Au, And 23.00 Metres Grading 9.03 G/t Au

[BBRUN]

TORONTO (miningweekly.com) – Banro Corporation, which owns gold prospects in the Democratic Republic of Congo, still expects to complete a prefeasibility study on its Namoya project next month, followed by a full feasibility study on the Twangiza operation in January, the company said on Friday.

The prefeasibility and full feasibility studies are being undertaken by Senet Engineering, with input from a number of independent consultants, including SRK Consulting.

However, now that the drilling programmes for both studies have been completed, the company will halt all other drilling activities, which represent a large portion of the firm's operating costs, and will also look at other ways to reduce spending.

“In response to continuing global financial developments, the company is scaling back its operations to conserve cash,” Toronto-based Banro explained in an emailed statement.

Exploration efforts going forward will focus on the delineation of new mineral prospects which have been identified at its Twangiza, Lugushwa and Namoya projects and within its 14 exploration permits.

This will involve gridding, mapping and soil, stream and rock sampling, which will not involve any significant spending, Banro said.

Mining and exploration companies around the world are reducing capital spending and taking various steps to conserve cash, as commodity prices weaken and financing options dry up.

[needan]

TORONTO (miningweekly.com) – Canadian gold hopeful Banro is a potential takeover target, because of its low market value, plus the difficulties the firm is likely to face in raising money for working capital, let alone project development, RBC Capital Markets analyst Cailey Barker said.

There are several gold miners on the prowl for acquisition prospects, particularly as producing gold companies are almost the only miners raising capital in current markets while their less-fortunate peers flounder, but the fact that all four of the company's projects are in the Democratic Republic of Congo (DRC) could deter some risk-averse suitors.

On Monday, Banro released the results of a feasibility study on its Twangiza project, in the DRC, in which it estimates the mine will cost $476-million, plus $133-million for a hydro-electric power plant.

Banro said that it plans to initiate talks with potential strategic partners, but Barker commented in a research note that RBC believes the company will be "challenged" to finance the project, given the high capital cost requirements."We believe Banro will find it difficult to find a partner, given the current global economic climate, DRC political risk and challenges of the project."

Further, Barker estimates that Banro will soon need to raise up to $20-million in equity, to cover working capital requirements.

"This could be significantly dilutive to the current share price," the analyst commented.