Banro Provides Q4 2012 Production Update for its Twangiza

Banro Provides Q4 2012 Production Update for its Twangiza Gold Mine,
DRC 
- 19,750 ounces of gold produced in the fourth quarter of 2012 
TORONTO, ONTARIO -- (Marketwire) -- 01/14/13 -- Banro Corporation
("Banro" or the "Company") (TSX:BAA)(NYSE Amex:BAA)(NYSE MKT:BAA) is
pleased to provide a gold production update for its Twangiza Gold
Mine in the Democratic Republic of the Congo (the "DRC"). 
Twangiza produced 19,750 ounces of gold for the final quarter of
2012. This was Twangiza's best quarterly performance since start-up,
which has enabled management to fully assess the expansion potential,
and operational issues required to achieve higher levels of
productivity. 
A comprehensive upgrade of the metallurgical plant is now underway
which in brief includes the introduction of a larger front end
crusher, as well as increasing the CIL tank volumes and doubling
elution capability. The full expansion exercise is planned to be
completed by the end of the third quarter 2013. This will increase
throughputs to 1.7Mtpa (425,000t/quarter), which is approximately 68%
higher than Q4 2012 and, together with higher recoveries expected to
be in the 90% range, unit costs will reduce further to US$500-600/oz. 
The Company's fourth quarter production results are as follows: 


 
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                                                    Units            Q4 2012
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Total ore mined                                    Tonnes            370,361
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Total ore milled                                   Tonnes            252,220
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Head grade                                         g/t Au               2.98
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Recovery                                                %                 83
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Strip ratio                                           t:t               0.92
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G
old production                                    Ounces             19,750
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Average gold price received                     US$/ounce              1,711
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Given the lower than planned throughput, which will be resolved once
the additional tank capacity is added, mining sequences over the past
quarter were adjusted to optimise grade delivered to the
metallurgical plant. This, and the fact that grade control drilling
is demonstrating grades of 7% higher than resource model grades,
resulted in the higher than planned head grade of 2.98g/t Au for the
period. For similar reasons, the strip ratio for the period increased
to 0.92, which was previously in the order of 0.4, has been
exaggerated somewhat by the fact that only waste was mined during the
periods of downtime. 
Year end 2012 financial results will be released on March 26, 2012,
followed by an investor conference call on March 27. 
Qualified Person 
Colin J.S. Belshaw, FIMMM, I.Eng., Banro's Vice President, Operations
and a "qualified person" (as such term is defined in National
Instrument 43-101), has reviewed and approved the technical
information in this press release. 
Banro Corporation is a Canadian gold mining company focused on
production from the Twangiza oxide mine and development of three
additional 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 Democratic Republic of
the Congo. Led by a proven management team with extensive gold and
African experience, Banro's plans include the construction of its
second gold mine at Namoya, at the south end of this gold belt, as
well as the development of two other projects, Lugushwa and Kamituga,
in the central portion of the belt. The initial focus of the Company
is on oxides, which have a low capital intensity to develop but also
attract a lower technical and financial risk to the Company and as
such maximize the return on capital and limits the dilution to
shareholders as the Company develops this prospective gold belt. All
business activities are followed in a socially and environmentally
responsible manner. 
For further information, please visit our website at www.banro.com. 
Cautionary Note Concerning 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 estimates and/or assumptions in
respect of future gold production, gold recoveries and costs, and the
Company's development plans and objectives) 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:
uncertainty of estimates of capital and operating costs, production
estimates and estimated economic return; the possibility that actual
circumstances will differ from the estimates and assumptions used in
the economic studies of the Company's projects; failure to establish
estimated mineral resources and mineral reserves (the Company's
mineral resource and mineral reserve figures are estimates and no
assurance can be given that the intended levels of gold will be
produced); fluctuations in gold prices and currency exchange rates;
inflation; gold recoveries 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) or less than those expected following the expansion of
the Twangiza plant; uncertainties relating to the availability and
costs of financing needed in the future; 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 26, 2012 filed on SEDAR
at www.sedar.com and 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.
Contacts:
Banro Corporation
Simon Village
President & CEO
+44 (0) 788 405 4012 
Banro Corporation
Arnold T. Kondrat
Executive Vice-President
+1 (416) 366-2221 
Banro Corporation
Naomi Nemeth
Investor Relations
+1 (416) 366-9189 or +1-800-714-7938, Ext. 2802
info@banro.com
www.banro.com